Big Lots (NYSE:BIG) – Big Lots is considering filing for bankruptcy protection soon, according to Bloomberg. The company is seeking investors to avoid Chapter 11, with its stock falling 27% last week and nearly 88% this year. Big Lots is facing financial difficulties due to declining sales and high interest rates. The stock fell 26.9% in pre-market trading after closing down 5.8% on Wednesday.
DraftKings (NASDAQ:DKNG) – DraftKings acquired Simplebet, a company that offers real-time betting during sports events. The acquisition aims to simplify betting for customers by integrating Simplebet’s technology into their systems. The purchase amount was not disclosed. Simplebet is known for providing betting data for leagues such as the NFL and NBA. The stock rose 0.3% in pre-market trading after closing down 2.8% on Wednesday.
Berkshire Hathaway (NYSE:BRK.A) – Berkshire Hathaway’s market value surpassed $1 trillion for the first time, reflecting investor confidence in the conglomerate Warren Buffett has built over nearly six decades. The company now joins other U.S. tech giants with similar valuations. Class A shares have risen 28% this year.
Apple (NASDAQ:AAPL) – Luca Maestri is retiring as Apple’s CFO, a position he has held since 2014. During his tenure, he boosted capital returns, paying $134 billion in dividends and buying back $600 billion in shares. Kevan Parekh will take over, and analysts expect continuity in strategy. The stock rose 0.8% in pre-market trading after closing down 0.7% on Wednesday.
Alphabet (NASDAQ:GOOGL) – Google updated its Gemini AI model to generate images of people after a pause due to historical inaccuracies. The new feature will be available to paid subscribers, starting in English. The enhanced tool, based on the Imagen 3 model, will avoid creating images of specific individuals or graphic content. Additionally, Google may build a large data center in Vietnam near Ho Chi Minh City, marking the first significant investment by a major U.S. tech company in the country. This center, planned for 2027, aims to meet the growing demand for cloud services and support the local digital economy. On another front, YouTube promised to limit minors’ access to videos about DIY weapons, but a report shows they can still easily find and watch such content. This comes despite previous promises to restrict access and update policies after criticism and pressure from authorities about the impact of these videos. The stock rose 0.3% in pre-market trading after closing down 1.1% on Wednesday.
Yelp (NYSE:YELP) – Yelp sued Google, alleging that the company uses its search monopoly to dominate the local search and advertising market. Yelp seeks to prevent Google from prioritizing its services over competitors, citing a recent antitrust ruling that confirmed Google’s monopolistic practices.
Intel (NASDAQ:INTC) – Senator Rick Scott questioned Intel about its plans to cut over 15,000 jobs despite receiving nearly $20 billion in U.S. subsidies for chip production. He requested clarification on how these cuts align with promises of job creation and protection of public investments. The stock rose 0.3% in pre-market trading after closing down 2.3% on Wednesday.
OpenAI – OpenAI is in talks to raise billions of dollars in a new funding round, potentially reaching a valuation of over $100 billion. The round is expected to be led by Thrive Capital, with an investment of about $1 billion, and will also include participation from Microsoft.
Super Micro Computer (NASDAQ:SMCI) – The delay in a $10,000 payment by Super Micro Computer caused a loss of over $800 million in Chairman Charles Liang’s net worth. The stock dropped 19% after the company postponed its annual financial disclosures and faced allegations of accounting irregularities. Liang, whose fortune fell from $9 billion to $3.5 billion since March, saw a 62% reduction in his wealth. The stock fell 5.3% in pre-market trading after closing down 19% on Wednesday.
Reddit (NYSE:RDDT) – Reddit announced that an update caused an outage affecting thousands of users, but the issue has now been fixed. The company stated it had resolved the flaw and restored platform stability. Downdetector recorded over 152,000 problem reports in the U.S. The stock remains stable in pre-market trading after closing down 4.9% on Wednesday.
Meta Platforms (NASDAQ:META) – Meta is developing the “Puffin,” a lighter mixed-reality device than current Quest headsets. It is expected to be released in 2027 and will allow interaction through gestures and eye movements, without handheld controllers. Puffin aims to offer a more attractive alternative for consumers by combining augmented and virtual reality. In Brazil, Meta faces a fine of up to $3.62 million after losing a lawsuit filed by the Havan network. Havan accused Meta of allowing fraudulent ads that used its name and image without authorization. The court ruling requires Meta to block such ads within 48 hours or face additional fines. The stock rose 0.3% in pre-market trading after closing down 0.5% on Wednesday.
Trump Media & Technology Group (NASDAQ:DJT) – Trump Media shares fell 4.2% on Wednesday, dropping below $20 for the first time since its merger with Digital World Acquisition Corp. The stock, which reached $29 in August, has been declining since then, reflecting a significant loss from the recent peak. The stock fell 0.7% in pre-market trading.
Walt Disney (NYSE:DIS) – ESPN renewed its contract with the United States Tennis Association to broadcast the US Open until 2037. The new deal, which starts in 2026, covers the U.S., Latin America, and the Caribbean and includes additional streaming rights. It is the network’s longest tennis contract, with financial terms undisclosed. Additionally, ESPN is exploring the use of artificial intelligence to personalize “SportsCenter” on Disney’s new standalone app, expected in 2025. AI will assist in personalization, clip generation, and narration, and ESPN also plans to include betting and fantasy sports in the app. The company recently launched ESPN Bet and a “Where to Watch” feature to find sports broadcasts. In India, Disney and Reliance Industries received approval for an $8.5 billion merger of media assets after resolving regulatory concerns about cricket broadcasting rights control. The deal will create India’s largest media conglomerate.
Amazon (NASDAQ:AMZN) – Amazon received permission to acquire a 500-square-meter plot of land in New Zealand for its Project Kuiper, which aims to provide satellite internet. The land will be used to install telecommunications equipment, with the goal of launching its satellites by the end of 2024 and starting tests in 2025. The stock rose 0.6% in pre-market trading after closing down 1.3% on Wednesday.
Tesla (NASDAQ:TSLA) – Ahead of a 100% tariff on Chinese electric vehicles by Canada starting October 1st, Tesla requested a reduced fee from the Canadian government, similar to that of the European Union. JD Power adjusted its forecast for EV market share in the U.S. in 2024 to 9% due to increasing competition and slow adoption but expects it to reach 36% by 2030. Additionally, Supreme Court Justice Alexandre de Moraes gave Elon Musk 24 hours to appoint a legal representative for the X platform in Brazil or face suspension. On Wednesday, SpaceX’s Falcon 9 failed to land after launching Starlink satellites, resulting in a violent crash into the ocean; the FAA has demanded an investigation, which could affect future launches. Additionally, Starlink launched services in Botswana after obtaining a two-year license from local regulators. Finally, xAI, a startup founded by Musk, is under criticism for using gas turbines in its Memphis data center without proper permits. The stock fell 0.04% in pre-market trading after closing down 1.7% on Wednesday.
Ford Motor (NYSE:F) – Ford announced changes to its diversity, equity, and inclusion (DEI) program, including withdrawing from the rankings of an LGBTQ advocacy group. CEO Jim Farley stated that the company is adjusting its policies due to a changing external and legal environment and to focus on supporting employees and customers.
Toyota Motor (NYSE:TM) – Toyota reported a 0.7% growth in global sales in July, driven by demand in Europe and Japan, after five months of decline. However, recalls in the U.S. and production issues in Japan due to the typhoon could negatively impact future results.
Fisker (NYSE:FSR) – The U.S. National Highway Traffic Safety Administration closed investigations into Fisker’s Ocean SUVs after the company issued recalls for door and brake issues. The failures were corrected by recalls and software updates, resolving safety concerns.
Polestar Automotive (NASDAQ:PSNY) – Polestar named Michael Lohscheller as the new CEO to address losses and operational challenges. Lohscheller, former CEO of Opel, VinFast, and Nikola, will replace Thomas Ingenlath starting October 1st. Polestar faces challenges with delayed launches and strong competition in China. The stock rose 0.5% in pre-market trading after closing down 16.4% on Wednesday.
AeroVironment (NASDAQ:AVAV) – AeroVironment shares surged on Wednesday after the U.S. Army awarded a record $990 million contract for its SwitchBlade technology. The contract will guarantee about $50 million in quarterly revenue through 2029, exceeding Wall Street expectations and boosting the stock. The stock remains stable in pre-market trading after closing up 9.1% on Wednesday.
United Airlines (NASDAQ:UAL) – United Airlines flight attendants approved a strike authorization with 99.99% of the vote in favor. This is the first such vote since 2005. They are seeking wage increases, better ground pay, and improved working conditions. The strike will not occur immediately; permission from the National Mediation Board is required after a “cooling-off” period.
ONEOK (NYSE:OKE) – ONEOK announced the acquisition of GIP assets for $5.9 billion, including stakes in EnLink Midstream and Medallion Midstream, to expand its presence in the Permian Basin and other regions. These deals are expected to immediately boost earnings and cash flow, generating synergies of $250 million to $450 million over the next three years. The company secured up to $6 billion in financing commitments from JPMorgan Chase and Goldman Sachs, with completion expected in early Q4.
Petrobras (NYSE:PBR) – Petrobras plans to reduce natural gas reinjection in response to the decree allowing the ANP regulator to set reinjection limits. The company’s president, Magda Chambriard, said that due to limited infrastructure and platform design, Petrobras will adjust its operations and explore new platforms to optimize gas transport.
Ecopetrol SA (NYSE:EC), Occidental Petroleum (NYSE:OXY) – Two Ecopetrol board members, Juan José Echavarría and Luis Alberto Zuleta, resigned after the company canceled the $3.6 billion purchase of Occidental Petroleum assets. They claimed the decision, influenced by opposition from Colombian President Gustavo Petro, would compromise the company’s finances and growth strategy.
US Steel (NYSE:X) – Nippon Steel plans to invest an additional $1.3 billion in US Steel as part of the pending acquisition. This amount complements the $1.4 billion investment already promised by 2026. The funds will be primarily directed to modernizing and expanding US Steel’s facilities. The deal is expected to close in H2 2024. The stock rose 1.6% in pre-market trading after closing down 1.6% on Wednesday.
Raymond James Financial (NYSE:RJF) – Raymond James Financial is advancing in the municipal bond market, reaching seventh place this year. The St. Petersburg-based firm increased its positions after the exit of major banks and a wave of hiring. Municipal debt issuance is up 37% this year, and Raymond James has already replaced Citigroup in major deals.
Franklin Resources (NYSE:BEN) – Franklin Resources CEO Jenny Johnson realized the risks of celebrity fund managers after the acquisition of Legg Mason. Now, the company faces a crisis with the SEC investigation into Ken Leech of Wamco, involving allegations of unfair business practices. The situation has caused a decline in shares and investor withdrawals.
BlackRock (NYSE:BLK) – BlackRock initiated an auction for the German startup SellerX after failing to approve a loan. The auction, scheduled for September 17th in Berlin, seeks to resolve SellerX’s financial crisis, which is struggling due to the post-pandemic slowdown in e-commerce. The debt value and impact on investors are in dispute.
Deutsche Bank AG (NYSE:DB) – Deutsche Bank will lead a $4.325 billion bond issuance and loan to finance Apollo Global Management’s purchase of Everi Holdings, which also includes acquiring International Game Technology operations. The financing will help complete the planned merger, with the possibility of launches until September 2025.
HSBC Holdings (NYSE:HSBC) – Nuno Matos, head of HSBC’s wealth unit, is leaving the bank after losing the CEO position. He will be replaced by Barry O’Byrne and will remain as an advisor until 2024 before leaving HSBC in 2025. Matos’s departure follows Georges Elhedery’s promotion to CEO and other changes in the bank’s top management. The stock fell 0.1% in pre-market trading after closing down 0.5% on Wednesday.
Just Eat Takeaway (LSE:JET), JPMorgan Chase (NYSE:JPM) – Just Eat Takeaway CEO Jitse Groen humorously reacted to JPMorgan’s suggestion of a possible merger with Delivery Hero and iFood to create a new giant called JustiFoodHero. He commented on X, mentioning that the name would need adjustments, with a laughing emoji.
Dick’s Sporting Goods (NYSE:DKS) – Dick’s Sporting Goods revealed on Wednesday that an unauthorized third party accessed its systems and confidential data. The company has engaged cybersecurity experts and notified federal authorities. There is no information yet on impacts on business operations.
Foot Locker (NYSE:FL) – Foot Locker will move its headquarters from New York to St. Petersburg, Florida, by the end of 2025, aiming to reduce costs and expand locally. The city, which once housed Champs, offers benefits such as lower living costs and tax incentives. The move is expected to create 175 new jobs, totaling 330 in Florida. The stock remains stable in pre-market trading after closing down 10.2% on Wednesday.
Chipotle Mexican Grill (NYSE:CMG) – Chipotle Mexican Grill appointed Adam Rymer as the new CFO starting October 1st. Rymer, with 15 years at the company, was vice president of finance. Jack Hartung will indefinitely assume the role of president and chief strategy officer to support interim CEO Scott Boatwright.
Kroger (NYSE:KR), Albertsons (NYSE:ACI) – On Wednesday, the U.S. Federal Trade Commission highlighted labor disputes in the Kroger-Albertsons merger case following strikes in Oregon. Kroger’s lead negotiator, Jon McPherson, and union leader Daniel Clay testified, discussing wages and labor competition. The merger faces resistance from unions concerned about the impact on working conditions.
Wynn Resorts (NASDAQ:WYNN) – Wynn Resorts, in partnership with Related Cos. and Oxford Properties Group, unveiled a $12 billion casino-resort project at Hudson Yards, New York. The plan includes a 1,500-room hotel, restaurants, spa, public art, 1,500 residences, a school, and a park. The project will create 35,000 construction jobs and 5,000 permanent jobs. Wynn is competing for one of three new casino licenses for the New York metropolitan area.
Kenvue (NYSE:KVUE) – The manufacturer of Tylenol, Kenvue, won a lawsuit filed by consumers who claimed that the “rapid release” gel capsules did not relieve pain faster than cheaper tablets. Federal Judge Andrew Carter ruled that the company followed FDA regulations, dismissing the consumers’ allegations of misleading labeling.
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