Doordash (NYSE:DASH), Deliveroo (LSE:ROO) – Doordash, a US meal delivery company, expressed interest in acquiring the UK-based Deliveroo, but negotiations were terminated due to disagreements over the company’s valuation. Currently, there are no ongoing negotiations between the two companies.
Comcast (NASDAQ:CMCSA) – Universal, a division of Comcast Corp., plans to build a large theme park in the UK, potentially creating 20,000 construction jobs and 8,000 permanent positions. With projected investments of $44.5 billion (£35.1 billion), the park would include possible attractions such as a Harry Potter-themed area near London.
Verizon Communications (NYSE:VZ) – Verizon will pay a $1.05 million fine to settle an investigation into failures to connect 911 calls during a blackout in six states in December 2022. The outage, which lasted nearly two hours, prevented hundreds of emergency calls. The company also agreed to implement a compliance plan to prevent future failures.
Disney (NYSE:DIS), Netflix (NASDAQ:NFLX) – The IATSE union, representing Hollywood film and TV workers, reached a tentative three-year agreement with major studios, including wage increases and protections against the use of AI. The deal proposes annual increases of 7%, 4%, and 3.5%, ensuring that AI will not displace employees.
Paramount Global (NASDAQ:PARA) – Paramount Global is exploring partnerships to expand its international streaming service, aiming to transform its scale and economy. The co-CEOs highlighted the pursuit of mergers that could replicate the success of Paramount+ in the US, while facing market challenges and strategic adjustments to sustain growth.
Microsoft (NASDAQ:MSFT) – Microsoft may face a significant antitrust fine after the European Commission accused it of illegally bundling its Teams app with the Office suite, giving it an unfair advantage over competitors like Slack. This is the first major antitrust action against Microsoft in the EU in two decades.
OpenAI, Baidu (NASDAQ:BIDU), Alibaba (NYSE:BABA), Tencent (USOTC:TCEHY) – OpenAI is delaying the launch of its highly anticipated voice assistant feature for ChatGPT to ensure safety and effectiveness in handling a large number of users. Originally scheduled for June, the release has been postponed to July to adjust processing capacity and user experience at scale. Additionally, OpenAI’s decision to block access in China is causing a shakeup in the AI sector, with companies like Baidu, Alibaba, and Tencent offering incentives for developers to switch to their platforms. This intensifies the US-China tech divide, impacting global AI development and competitiveness.
Alphabet (NASDAQ:GOOGL) – Google will announce new artificial intelligence advancements and updates for its Pixel devices and Android at an event on August 13 at its headquarters in Mountain View. The event will feature a keynote and a hands-on session with the products. Alphabet’s Waymo has expanded its autonomous transport service, Waymo One, to all users in San Francisco, replicating its previous model in Phoenix. The initiative reflects the commercial potential of autonomous vehicles despite regulatory challenges and investor concerns about the high costs of the technology.
Nvidia (NASDAQ:NVDA) – Nvidia shares rose nearly 7% on Tuesday, recovering after a three-session decline that wiped about $430 billion off its market value. This move is seen as a normal technical correction following a significant drop. The shares are up 2.5% in pre-market trading.
Broadcom (NASDAQ:AVGO) – Over the past five days, Broadcom Inc. has faced a sharp decline, losing over $115 billion in market capitalization, equivalent to the total value of Boeing Co. and close to Intel Corp.’s market value. Still, most analysts maintain positive recommendations, highlighting its potential in artificial intelligence compared to Nvidia.
Micron Technology (NASDAQ:MU) – Micron Technology will report quarterly results after the market close today, expecting robust quarterly growth driven by increasing demand in PCs and smartphones, reduced inventories in automotive and industrial sectors, and the demand for artificial intelligence (AI). The company benefits particularly from AI servers and AI-enabled devices requiring more memory. The company forecasts a revenue increase of 76% to $6.6 billion for the May quarter and 89% to $7.59 billion for the August quarter, with an expected annual profit of $37.3 billion, a 50% increase. Optimistic analysts are raising their estimates and price targets, anticipating strong results driven by these trends. Shares rose 3.3% in pre-market trading.
Reddit (NYSE:RDDT) – Reddit announced it will strengthen the use of the Robots Exclusion Protocol to block the automatic collection of data, following reports that AI startups were improperly using its content. The measure aims to protect data against unauthorized use by artificial intelligence companies.
American International Group (NYSE:AIG) – Zurich Insurance announced the purchase of AIG’s travel insurance unit for $600 million, aiming to expand its presence in the US through the Cover-More Group. The transaction, expected to be completed by the end of 2024, will increase annual premiums to about $2 billion.
Volkswagen Group (TG:VOW3), Rivian (NASDAQ:RIVN) – Volkswagen Group plans to invest up to $5 billion in Rivian, forming a joint venture to share electric vehicle technology. This investment strengthens Rivian’s operations and allows Volkswagen to expand its EV software capabilities. Rivian’s shares rose 37.6% in pre-market trading.
General Motors (NYSE:GM) – General Motors’ Cruise robotaxi unit appointed Marc Whitten, a founding Xbox engineer, as its new CEO. Whitten will take over on July 16, replacing two co-presidents who have been leading since Kyle Vogt’s resignation following an accident involving one of the company’s autonomous vehicles.
Toyota Motor (NYSE:TM) – Toyota President Akio Toyoda received about $10.2 million (¥1.62 billion) in fiscal year 2023, a 62% increase from the previous year, including salary, bonuses, and stock. Despite lower shareholder approval due to safety investigations, Toyota achieved record operating revenue.
Tesla (NASDAQ:TSLA) – Tesla announced the recall of a large number of Cybertrucks in the US due to issues with windshield wipers and exterior trim. This physical recall is unusual for the company, which typically resolves issues via software updates. The recall affects over 11,000 vehicles.
BYD (USOTC:BYDDY), Berkshire Hathaway (NYSE:BRK.A) – Warren Buffett’s Berkshire Hathaway has intensified the sale of BYD shares, a leading Chinese electric vehicle company, reducing its stake to 5.99% on June 19, down from 7.02% on June 11. According to Hong Kong rules, Berkshire will continue to disclose sales until its stake falls below 5%.
Visa (NYSE:V), Mastercard (NYSE:MA) – A US judge rejected a $30 billion antitrust settlement between Visa and Mastercard aimed at reducing fees charged to merchants accepting their cards. Judge Margo Brodie found the settlement offered little relief and was temporary, denying preliminary approval and signaling that the case may go to trial.
KKR & Co (NYSE:KKR) – KKR acquired a portfolio of 18 multifamily properties from Quarterra Multifamily for about $2.1 billion, including 5,200 units in eight US states.
BlackRock (NYSE:BLK), Saba Capital Management (NYSE:SABA) – BlackRock retained seats on the board of six of its closed-end funds after Saba Capital Management failed to secure enough votes to replace directors or remove BlackRock as the funds’ manager. Shareholders rejected Saba’s attempt to influence the governance of these funds.
DuPont (NYSE:DD), 3M (NYSE:MMM), Honeywell (NASDAQ:HON) – Connecticut firefighters sued DuPont, 3M, Honeywell, and others for protective equipment contaminated with PFAS, toxic chemicals linked to cancer. They allege that PFAS are absorbed through the skin, increasing the risk of adverse health conditions, seeking $5 million in damages.
Albemarle (NYSE:ALB) – The world’s largest lithium producer plans to increase auctions of the metal to promote price transparency and improve market understanding. This aims to clarify lithium pricing and support supply contracts with automakers needing consistent supply.
Exxon Mobil (NYSE:XOM) – Exxon Mobil signed a preliminary agreement to supply up to 100,000 metric tons of lithium from a project in Arkansas to SK On, a South Korean electric vehicle battery manufacturer. This agreement could extend over several years, strengthening the US battery supply chain.
Royal Philips NV (NYSE:PHG) – The Agnelli family, through Exor NV, increased its stake in Philips to 17.51%, a total investment of $4.19 billion. This reflects greater confidence in the Dutch medical device company, which recently resolved legal issues in the US related to its sleep apnea products.
Worthington Enterprises (NYSE:WOR) – The industrial products and construction-focused company reported fourth-quarter revenue of $318.8 million, a 14% decline. The company had a loss of $31.8 million, or 65 cents per share, compared to a previous profit of $129.9 million, or $2.67 per share. Worthington Enterprises shares fell 7.5% in pre-market trading.
FedEx (NYSE:FDX) – In the fourth quarter, FedEx exceeded expectations with earnings of $5.41 per share and sales of $22.1 billion, compared to the expected $5.34 and $22 billion, respectively. FedEx exceeded profit expectations for 2025, projecting earnings of $20 to $22 per share, above analysts’ estimate of $20.92. The company plans to cut expenses and consolidate operations to increase profitability, despite weak package delivery demand. Shares rose 13.5% in pre-market trading.
Nike (NYSE:NKE) – Nike is expected to report its lowest revenue growth in two years in the fourth quarter, facing innovation challenges and increasing competition from brands like On and Hoka. With a lack of innovative products, Nike has been losing market share to these emerging rivals.
Gap Inc. (NYSE:GPS) – Gap Inc. is optimistic about the back-to-school season, boosting its brands with new products and marketing strategies. TD Cowen analysts upgraded their stock recommendations from hold to buy, anticipating underestimated earnings growth, though they warn of pressure for consistent results due to high market expectations.
Target (NYSE:TGT) – Target is adjusting its leadership strategy to revitalize sales while facing a continued decline. Recent changes include searching for a new chief marketing officer and internal reallocations to strengthen merchandising and growth strategy.
General Mills (NYSE:GIS) – General Mills is set to report its fourth-quarter fiscal results, expecting a sales decline due to high inflation and higher prices. Analysts predict revenue of $4.85 billion, 3.6% lower than last year, with earnings per share expected at 99 cents, an 11.6% decline. Shares rose 1.1% in pre-market trading.
Chipotle Mexican Grill (NYSE:CMG) – Chipotle Mexican Grill saw its shares rise 2.8% on Tuesday, anticipating its first stock split in nearly two decades. With a 50-to-1 split, the shares will be more accessible to retail investors, potentially boosting the price in the short term despite recent controversies. Shares fell -0.40% in pre-market trading, with a last price of $65.40.
McDonald’s (NYSE:MCD) – Restaurant industry experts say McDonald’s can profit from a $5 meal despite a tight profit margin of 1% to 5%. The combo includes a sandwich and sides, designed to attract price-sensitive customers, although it costs up to $6 in certain high-demand markets.
Clario – The pharmaceutical software provider confidentially filed for an initial public offering (IPO) in the US, aiming for a valuation above $10 billion. The company is working with major banks like JPMorgan and Morgan Stanley for the IPO process.
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