Berkshire Hathaway (NYSE:BRK.A), Bank of America (NYSE:BAC) – Berkshire Hathaway sold 33.9 million Bank of America shares for approximately $1 .48 billion. After the sale, it still owns around 999 million shares in the bank. Warren Buffett’s Berkshire has invested in BofA since 2011, when it purchased preferred shares and warrants. Bank of America shares fell 1.7% in premarket trading.
Ryanair Holdings Plc (NASDAQ:RYAAY) – Ryanair fell 12.2% announced a 46% drop in quarterly profit and lower than expected fares for the summer. Despite a 10% increase in passenger traffic, the company cited weaker fares and falling demand over Easter as reasons for the decline in profit. Tariffs fell by 15%, resulting in a profit reduced to 360 million euros. The company faces challenges such as low consumer confidence, air traffic problems and delays in plane deliveries. Shares fell 11.7% in premarket trading.
Delta Air Lines (NYSE:DAL) – Delta Air Lines is still facing major problems due to a CrowdStrike software glitch, resulting in the cancellation of 11% of its flights and additional delays on Monday . Meanwhile, rivals like American Airlines and United Airlines have faced fewer difficulties. The company has had 5,000 flights canceled and thousands of passengers affected since the IT failure, and is still struggling to resolve operational issues, particularly with its crew tracking system. Shares fell 0.1% in premarket trading.
American Airlines (NASDAQ:AAL) – American Airlines flight attendants have reached a tentative labor agreement after more than three years of negotiations. The agreement, which still needs to be ratified by members, promises billion-dollar investments in wages and working conditions. Final approval will depend on a vote among the commissioners. The union requested a 33% pay increase, noting that flight attendants have not had a pay raise in more than five years and have faced significant challenges with problem passengers during the pandemic. Shares fell 0.7% in premarket trading.
Southwest Airlines (NYSE:LUV) – The Federal Aviation Administration (FAA) is investigating a Southwest Airlines flight that flew just 175 feet over Tampa Bay on July 14. The incident is part of a series of safety problems involving the company, including flights at dangerously low altitudes and anomalous aircraft movements. Southwest is cooperating with the investigation.
FedEx (NYSE:FDX), United Parcel Service (NYSE:UPS) – FedEx and UPS warned of possible delivery delays due to global IT failure. FedEx faced “substantial disruptions” and said it could delay scheduled packages, while UPS dealt with issues with its systems but continues to operate. These issues arose in the wake of Amazon’s record Prime Day sales.
Crowdstrike (NASDAQ:CRWD), Microsoft (NASDAQ:MSFT) – CrowdStrike reported that many of the 8.5 million Windows devices affected by the global software flaw have now been restored and are operational. Although it impacted less than 1% of systems, the outage had serious economic and social repercussions. Experts point out that the update, intended to improve security against hackers, failed due to inadequate testing, resulting in major outages. Banks, airlines and hospitals were affected. In premarket trading, Crowdstrike shares fell 2.9%, while Microsoft shares rose 0.6%.
Tesla (NASDAQ:TSLA) – Elon Musk announced that Tesla has stopped using CrowdStrike’s software following an update that caused global outages. In posts on X, Musk mentioned that the problem affected the automotive supply chain. He did not confirm whether all of his companies, such as SpaceX and Neuralink, have abandoned the software. Shares rose 1.4% in premarket trading.
Meta Platforms (NASDAQ:META) – CrowdStrike’s faulty update caused an outage that also affected Meta’s external vendors responsible for content moderation on Facebook. Although Meta classified the incident as SEV1, with high risk and need for immediate attention, the impact on moderation was minimal. Mark Zuckerberg praised Donald Trump’s response after the assassination attempt, calling it “tough” and inspiring, which helps explain his appeal to voters. While Zuckerberg doesn’t support Trump or Biden and doesn’t plan to get involved in the election, he recognizes Trump’s emotional impact. In Nigeria, Meta was fined US$220 million for violating privacy laws with its 2021 data policy, forcing it to adjust its practices and guarantee the privacy rights of Nigerian users. Shares rose 0.8% in pre-market trading.
Nvidia (NASDAQ:NVDA) – Nvidia is adapting its new AI chips, launched in March, to meet US export rules, targeting the Chinese market. The “B20” chip, a modified version of the “Blackwell”, will be distributed with the help of Inspur, its partner in China. Sales of H20 chips, also from Nvidia, are growing rapidly despite US export restrictions and the competitive market with Huawei. Shares rose 1.4% in premarket trading.
Oracle (NYSE:ORCL) – Oracle agreed to pay $115 million to settle a lawsuit that alleged the company violated privacy by collecting and selling personal information without authorization. The agreement requires court approval and prohibits Oracle from collecting data from websites visited and forms from other websites.
Walt Disney (NYSE:DIS) – Walt Disney announced that Safra Catz, CEO of Oracle, is leaving the entertainment company’s board after six years. Disney’s board will now have 11 members following Catz’s departure. Catz was elected to Disney’s board in 2017, during which the company was planning to acquire Twenty-First Century Fox’s media empire.
Booking.com (NASDAQ:BKNG), Ryanair Holdings (NASDAQ:RYAAY) – A US court ruled that Booking.com violated the Computer Fraud and Abuse Act by accessing the Ryanair website without permission. Ryanair believes the decision will help combat unauthorized practices of screen scraping and ticket reselling. Booking.com plans to appeal the decision.
Starbucks (NASDAQ:SBUX) – Activist fund Elliott Investment Management has acquired a significant stake in Starbucks, seeking to improve the company’s stock performance. This occurs in a context of falling company sales and profits, especially in the US and China. Shares fell 0.8% in premarket trading.
Vodafone (NASDAQ:VOD) – Vodafone sold 10% of its stake in Vantage Towers for $1.4 billion, reducing its stake as planned. The sale, part of a 2022 deal, aims to reduce Vodafone’s debt. With the sale, Vodafone’s stake in Vantage Towers fell to 44.7%. Shares rose 0.3% in premarket trading.
Stellantis (NYSE:STLA) – Chrysler owner Stellantis paid $190.7 million in fines for failing to meet U.S. fuel economy requirements for 2019 and 2020, with an additional $459.7 million outstanding. The fines highlight compliance challenges as the company invests heavily in electric vehicle production. Shares rose 1.4% in premarket trading.
Xpeng (NYSE:XPEV) – Xpeng and Volkswagen are collaborating to develop a new architecture for electric vehicles (EV) through engineering centers in China, Guangzhou and Hefei. The objective is to start production of this new technology in two years. The partnership aims to create more affordable electric cars for the Chinese market. Shares rose 2.3% in premarket trading.
Boeing (NYSE:BA) – Aviation leaders will meet at a summit in London to discuss challenges such as supply chain disruptions and aircraft delays. The Farnborough Airshow, July 22-26, is expected to see fewer aircraft orders due to problems at Airbus and Boeing. Boeing sees significant improvements in 737 MAX production flow following safety crisis, with new boss Stephanie Pope saying changes at the factory are “transformational”, highlighting that the priority is safety and quality, not just schedule . Boeing still faces problems with the 737 MAX 7’s anti-icing system, which could delay certification until 2025, and the MAX 10 awaits FAA approval. Additionally, the company is facing delays in building Air Force One, with possible delays until 2027 or 2028, and has already lost more than $2 billion on the project due to supply, inflation and workforce challenges. Shares rose 0.5% in premarket trading.
Embraer (NYSE:ERJ), Gol (NYSE:GOL) – Eve, controlled by Embraer, revealed its full-scale “flying taxi” prototype, marking a significant advance. The vehicle, an eVTOL (electric vertical takeoff and landing aircraft), is scheduled for certification and operation by 2026. The company has already raised almost US$400 million and has 3,000 potential orders. Furthermore, Gol and LATAM Airlines are negotiating the inclusion of Embraer planes in their fleets, driven by BNDES and the Brazilian government. The negotiations aim to strengthen the national manufacturer and improve regional aviation in Brazil. Both companies, which predominantly operate with Boeing and Airbus, can expand with Embraer models.
Astra Space (NASDAQ:ASTR) – Astra Space’s capitalization deal with its founders has been completed following a rapid decline in its valuation, which fell from $3.9 billion in 2021 to around $12.2 million in March. CEO Chris Kemp and technology chief Adam London will buy shares in the company at 50 cents each, down from the previous sale price of 53 cents. Astra, which has faced numerous problems and delays, now plans to develop a new rocket and cut up to 25% of its workforce.
Exxon Mobil (NYSE:XOM) – Exxon Mobil agreed to sell its oil and gas assets in Malaysia to state-owned Petronas, exiting the sector in the country. Exxon seeks to focus on production in the Americas. Petronas will take over operations, including the Tapis field, and discuss new arrangements for the transfer. Shares rose 0.1% in premarket trading.
U.S. Steel (NYSE:X) – Nippon Steel has hired former U.S. Secretary of State Mike Pompeo as an advisor to support the acquisition of U.S. Steel, highlighting economic and national security benefits. Despite approvals outside the US, the deal faces political resistance and objections from unions and politicians, including Trump and Biden.
Sempra Infrastructure LLC (NYSE:SRE) – Sempra has hired Bechtel Energy to expand its Port Arthur LNG export plant in Texas. Bechtel is already building the first phase of the plant, which will have a capacity of 13 million tons per year. The expansion, which will double this capacity, has no disclosed cost yet. The agreement includes guaranteeing project costs and schedules.
BlackRock (NYSE:BLK) – BlackRock is expanding its presence in the Middle East, moving senior strategist Ben Powell to Dubai. He will lead macroeconomic and markets research for the region and continue oversight in Asia-Pacific. The company seeks to strengthen ties with local customers and is already strengthening its operations in the region.
Deutsche Bank AG (NYSE:DB) – Arjun Nagarkatti, head of Deutsche Bank’s U.S. wealth unit, plans to hire up to a dozen private bankers this year, focusing on San Francisco and Los Angeles. The goal is to expand its presence in the ultra-rich market and achieve double-digit revenue growth in the coming years.
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