Trump Media & Technology Group (NASDAQ:DJT) – Trump Media & Technology Group announced that the SEC approved the resale of shares and warrants, expecting to raise about $247 million. With the warrants now exercisable, they plan to expand Truth Social and consider mergers. The company’s stock has fallen 46% in value since it closed its Nasdaq listing in March. Its current market capitalization is approximately $8.83 billion. The shares fell 5.4% in pre-market trading.
KB Home (NYSE:KBH) – In the second fiscal quarter, KB Home reported net income of $168.4 million, or $2.15 per share, beating analysts’ expectations of $1.80 per share. Revenue was $1.71 billion, above the expected $1.65 billion. Home orders increased 2% to 3,997, with the value of orders rising to $2.03 billion. The average selling price rose from $479,500 to $483,000. Shares rose 1.7% in pre-market trading.
Nvidia (NASDAQ:NVDA) – Nvidia acquired Shoreline.io for around $100 million. Based in Redwood City, California, the software startup Shoreline develops solutions for detecting problems in computer systems and automating fixes. Founded in 2019 by Anurag Gupta, a former AWS executive, Nvidia saw its shares rise 2.7% in pre-market trading after becoming the most valuable listed company on Tuesday. Its market valuation reached $3.35 trillion.
Apple (NASDAQ:AAPL) – Apple has halted the development of its high-end version of the Vision Pro headset, opting to focus on a more affordable model, according to a report. This shift may reflect a strategy to compete directly with Meta Platforms, which leads the mixed reality market with its more affordable Quest 3.
Meta Platforms (NASDAQ:META) – A US judge dismissed Meta Platforms’ attempt to throw out a lawsuit filed by Australian magnate Andrew Forrest over fraudulent Facebook ads using his image. The judge allowed Forrest to claim negligence and misappropriation by Meta, highlighting the company’s potential responsibility for profiting from these ads.
Qualcomm (NASDAQ:QCOM) – Qualcomm agreed to pay $75 million to settle a shareholder lawsuit accusing it of concealing anticompetitive practices. Allegations included artificially inflating stock prices between 2012 and 2017 by not properly disclosing sales and licensing practices. The company denied wrongdoing in agreeing to the settlement.
Advanced Micro Devices (NASDAQ:AMD) – AMD reported that hackers obtained limited information during a recent cyberattack, stating it will not significantly impact their operations. The intrusion involved accessing product specifications through a third-party supplier but did not compromise critical business data.
Hewlett Packard Enterprise (NYSE:HPE), Juniper Networks (NYSE:JNPR) – The UK is investigating Hewlett Packard Enterprise’s $14 billion acquisition of Juniper Networks for potential antitrust concerns. The Competition and Markets Authority is examining whether the merger could impact competition in the network device market, including routers and switches.
Dell Technologies (NYSE:DELL), Super Micro Computer (NASDAQ:SMCI) – Elon Musk announced that Dell Technologies will supply half of the server racks for the supercomputer of xAI, his artificial intelligence startup, while Super Micro Computer will provide the other half. This initiative aims to support the advanced development of xAI’s Grok chatbot, planned to operate by 2025.
Amazon (NASDAQ:AMZN) – Just Eat Takeaway announced on Wednesday an agreement to provide free delivery for Amazon Prime members in Germany, Austria, and Spain on food orders above 15 euros ($16.13). The deal, with no financial details disclosed, marks the first European collaboration between the two companies. Elsewhere, Amazon was fined $5.9 million by California for failing to properly inform workers about productivity quotas in its warehouses. The company faces criticism and union allegations related to the quota system, which may affect working conditions and safety. Amazon denies fixed quotas and is appealing the fines. Additionally, Amazon announced an additional $10.7 billion (€10 billion) investment in Germany to expand its cloud and logistics infrastructure, including €8.8 billion to build data centers in the Frankfurt region by 2026.
Netflix (NASDAQ:NFLX) – Netflix is expanding its local production in Southeast Asia to increase its subscriber base. Focused on original content, such as the Thai thriller “Hunger” and the Indonesian series “Cigarette Girl,” the platform aims to meet the demand for authentic regional stories. This contrasts with American rivals like Disney and Amazon, which are cutting investments in the region due to profitability pressures.
EchoStar (NASDAQ:SATS) – Creditors of Hughes Satellite Systems are investigating a costly leasing deal with EchoStar, accusing it of diverting money from Hughes to its parent company. Concerns include elevated fees and significant payments to EchoStar, potentially impacting Hughes’ earnings and leading to legal considerations, including litigation.
Walmart (NYSE:WMT) – Walmart agreed to pay $1.64 million to settle New Jersey’s allegations of illegal pricing practices in its 64 stores in the state. Irregularities included more than 2,000 incorrect measures, making it difficult for consumers to compare prices, violating state display regulations.
Best Buy (NYSE:BA) – Best Buy is launching a major training initiative for its employees, preparing them to sell and support Microsoft’s new Copilot+ PCs, which integrate artificial intelligence. This effort is crucial to boost sales and reverse recent declines, focusing on educating about new technologies like neural chips and advanced AI features.
Dollar Tree (NASDAQ:DLTR) – Dollar Tree kept lead-contaminated applesauce on shelves for nearly two months after the initial recall, according to an FDA letter. The company faces criticism for its inadequate handling of the issue and is strengthening its compliance controls under new leadership.
Toyota Motor (NYSE:TM) – Toyota Motor announced it will suspend six production lines at five of its plants in Japan starting Thursday due to a lack of components. A company spokesperson stated that the decision on when to resume production will be made on Friday.
Tesla (NASDAQ:TSLA) – Judge Trina Thompson allowed owners to sue Tesla for alleged monopoly over repairs and parts, citing practices that limit authorized service centers and restricted parts sales. The decision revived a previously dismissed class action, accusing Tesla of coercion and antitrust violations.
Ferrari (NYSE:RACE) – Ferrari will launch its first electric car for at least €500,000, indicating confidence in demand from ultra-rich customers despite the trend in the electric vehicle market. The new factory in Maranello will be able to increase production to around 20,000 vehicles annually while maintaining the brand’s exclusivity. Additionally, the factory will expand Ferrari’s capabilities, having an assembly line for gasoline, hybrid, and fully electric vehicles, and manufacturing specific components for hybrid and electric vehicles.
Polestar Automotive (NASDAQ:PSNY) – Hakan Samuelsson, chairman of Polestar Automotive Holding UK, plans to step down amid a board restructuring at the electric vehicle manufacturer. This change comes in the context of operational challenges and a decline in the stock price since its listing in 2022, reflecting lukewarm demand for EVs and regulatory compliance issues.
Momenta Global Limited – China’s securities regulator approved the IPO of autonomous driving startup Momenta Global Limited in the US. Momenta plans to list up to 63,352,856 ordinary shares on the Nasdaq or New York Stock Exchange. China has also advanced with autonomous vehicle tests as part of its accelerated adoption plan.
Boeing (NYSE:BA) – US senators confronted Boeing CEO Dave Calhoun in a tense hearing over ongoing safety and corporate management concerns. Questioned about his significant compensation amid persistent 737 MAX problems and recent incidents, the hearing highlighted tensions over his leadership and Boeing’s crisis response. Calhoun took responsibility for the incidents, committing to improving the company’s safety practices. Meanwhile, families of the 737 Max crash victims are requesting a nearly $25 billion fine from the DOJ, alleging one of the worst corporate crimes in US history. Additionally, a Boeing inspector revealed that the company handled and lost hundreds of defective parts, some possibly installed in new 737 Max planes, detailing failures in managing non-conforming parts and accusing Boeing of hiding inadequately stored components from the FAA before inspections. Regarding the Starliner mission, Boeing and NASA delayed the return of two astronauts from the International Space Station by four days due to technical issues with the CST-100 Starliner capsule.
Embraer (NYSE:ERJ) – Embraer is focused on expanding sales of its C-390 Millennium aircraft in strategic markets such as India, Saudi Arabia, the European Union, and the US. With open bids in India and Saudi interest in replacing their C-130 Hercules, the company seeks to increase its international presence, especially in the US and NATO. Additionally, Embraer is negotiating sales of E2 jets to Latam Airlines and Gol, aiming to increase revenues to $10 billion by 2030. With strong demand for narrow-bodies, the company seeks to fill gaps and improve connectivity between Brazilian cities while facing supply challenges until 2026.
Wolfspeed (NYSE:WOLF) – Wolfspeed delayed the construction of a $3 billion semiconductor factory in Germany, reflecting the European Union’s challenges in expanding local chip production and reducing dependence on Asian suppliers. The company cut spending after the slowdown in electric vehicle markets and now focuses on increasing production in New York.
GE Aerospace (NYSE:GE) – GE Aerospace is developing a hybrid electric engine for future narrow-body jets, aiming for a launch in the next decade. The technology, still in testing, promises to transform hybrid jets into the aerial equivalents of the Toyota Prius, potentially significantly cutting global aviation carbon emissions. Additionally, GE Aerospace faces ongoing global supply chain challenges despite the slowdown in Boeing’s production. Concerns persist for next year, with efforts to align with production rates and resolve bottlenecks, including using advanced technology to improve efficiency and reduce delivery times.
US Steel (NYSE:X) – Nippon Steel, planning to acquire US Steel, faces risks of rising decarbonization costs, according to activist shareholders. They urge the company to review the impact of this acquisition on its climate goals, especially considering the addition of 11 blast furnaces, which could intensify challenges and costs associated with reducing carbon emissions.
Nasdaq (NASDAQ:NDAQ) – Nasdaq Stockholm was fined $9.59 million (100 million Swedish crowns) by Sweden’s financial authority for failing to monitor and report suspicious trading, and for violating rules by initiating trading of financial instruments on two occasions.
JPMorgan Chase (NYSE:JPM) – In recent years, India has transformed from a peripheral emerging market to a central component of global portfolios, with its stock market now ranked as the world’s fifth largest. Currently, the focus is on its robust $1.3 trillion sovereign debt, standing out amid the economic challenges faced by Russia and China, driving significant increases in foreign interest and investments. This movement was catalyzed by JPMorgan’s decision to include Indian government bonds in its primary emerging markets index, scheduled for June. In China, tech stocks are rising due to economic recovery and improved earnings expectations. Alex Yao of JPMorgan forecasts a 20% to 25% upside, highlighting that the sector could be rewarded for sustainable profits despite regulatory and competitive concerns.
Citigroup (NYSE:C) – According to Reuters, Citigroup is committed to expanding its operations in Europe despite political uncertainties that have concerned investors. Even facing political instability, including upcoming elections in the UK and France, the bank sees this as a chance to advise and assist its clients. Ignacio Gutierrez-Orrantia was recently appointed CEO of Citibank Europe, aiming to lead the bank to industry leadership in the region within three to five years.
Taiwan Semiconductor Manufacturing Co (NYSE:TSM), Goldman Sachs (NYSE:GS) – Investors are using options to explore arbitrage between TSMC shares traded in Taiwan and their American Depositary Receipts (ADR) in the US, whose prices diverge. Goldman Sachs suggests strategies of buying puts on the ADRs and selling corresponding puts on Taiwan shares to manage risks and profit from price convergence. Optimism around TSMC has grown, driven by forecasts of high demand related to artificial intelligence and potential price increases in 2025.
Carlyle Group (NASDAQ:CG), KKR & Co (NYSE:KKR), Discover Financial Services (NYSE:DFS), Energean (LSE:ENOG) – Carlyle Group and KKR are leading bids for Discover Financial’s $10 billion student loan portfolio, according to the Financial Times. The private equity firms are intensifying their credit investments, working together on the bid. Additionally, Energean agreed to sell its oil assets in Egypt, Italy, and Croatia to Carlyle for up to $945 million. The deal includes an initial payment of $504 million, allowing the company to pay a special dividend and repay debt.
Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson is facing a new class action lawsuit seeking damages and medical monitoring for women who used their talc products and developed or may develop cancer. This lawsuit, filed in New Jersey, is the first to seek regular testing for early cancer detection among the company’s talc users.
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.