Johnson Controls Division Sold for $8 Billion; Alphabet’s Offer Rejected by Wiz; AMD President Announces Retirement

Johnson Controls (NYSE:JCI), Robert Bosch GmbH (TG:R1WE) – Robert Bosch GmbH plans to buy Johnson Controls’ heating and ventilation division for $8 billion, expanding its operations beyond the automotive sector. The deal includes the complete acquisition of a joint venture with Hitachi, strengthening Bosch’s presence in global heating, ventilation, and air conditioning markets. The transaction is pending regulatory approval and is expected to be completed within a year. Johnson Controls shares rose 1% in pre-market trading.

Alphabet (NASDAQ:GOOGL) – The Israeli startup Wiz canceled negotiations to be acquired by Alphabet for $23 billion and opted for an initial public offering, targeting annual revenue of $1 billion. Alphabet will release its quarterly report after market close today. Alphabet is expected to announce nearly 14% growth in its quarterly revenue, driven by AI-powered cloud services and increased advertising. YouTube is projected to perform robustly, with cloud sales expected to grow by 26.4% and advertising revenue by 10.8%. Additionally, Google decided to keep third-party cookies in Chrome to facilitate personalized ads despite privacy concerns. Shares rose 0.1% in pre-market trading.

Advanced Micro Devices (NASDAQ:AMD) – Victor Peng, president of AMD and former CEO of Xilinx, which was acquired by AMD in 2022, will retire on August 30. During his tenure, AMD, led by CEO Lisa Su, increased its market share and surpassed Intel in market value. Peng’s responsibilities will be partly assumed by Vamsi Boppana, focusing on AMD’s AI accelerators. Shares fell 1.4% in pre-market trading.

Alphabet (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) – Negotiations for a global tax agreement called “Pillar 1” on the taxation of large multinationals, including Alphabet, Amazon, and Apple, continue past the June 30 deadline. The plan aims to replace unilateral taxes on U.S. tech companies with a shared global system. The G20 meeting could be crucial for advancing discussions.

Amazon (NASDAQ:AMZN) – Workers at a major Amazon warehouse in California went on strike to protest the company’s retaliation against unionization efforts, according to the Teamsters union. The protest occurred in San Bernardino and involved over 100 workers, despite Amazon claiming the action did not impact its operations. Workers demand better working conditions and higher wages, especially after incidents during high-demand periods like Prime Day. Shares rose 0.3% in pre-market trading.

ON Semiconductor (NASDAQ:ON) – The automotive chip supplier ON Semiconductor is collaborating with Volkswagen to supply silicon carbide microchips that help electric vehicles travel longer distances without additional batteries. This agreement aims to integrate technologies that improve operational performance and reduce costs, creating more accessible and efficient electric vehicles. The partnership is seen as strategic for the automotive industry, seeking to overcome range and cost challenges of electric vehicles. Shares fell 3% in pre-market trading.

Equinix (NASDAQ:EQIX) – Equinix acquired three data centers in the Philippines from Total Information Management to expand its presence in Southeast Asia. The company also plans to expand in Singapore, Jakarta, and Chennai. The strategy aims to strengthen its operations in a region with significant growth potential and increasing demand for IT services.

Logitech (NASDAQ:LOGI) – Daniel Borel, co-founder of Logitech, won the right in court to include his own candidate for chairman of the company’s board on the agenda of the next shareholder meeting. The decision allows shareholders to vote for Guy Gecht, despite him and the company preferring the current chairwoman, Wendy Becker. Borel has criticized Becker for her lack of technology experience. The situation has caused surprise and discontent at Logitech, seeing the decision as a source of confusion for shareholders. Shares fell 0.3% in pre-market trading.

AT&T (NYSE:T) – AT&T’s network failure in February prevented 92 million calls and blocked 25,000 attempts to reach 911. The U.S. Federal Communications Commission (FCC) is investigating potential violations of company rules, affecting 125 million devices. AT&T promised to prevent future issues and credited customers with one day of service. Shares fell 0.1% in pre-market trading.

CrowdStrike (NASDAQ:CRWD) – The U.S. House Homeland Security Committee asked CrowdStrike CEO George Kurtz to testify about a global flaw in its security software. The software update caused issues on 8.5 million Windows devices, affecting various sectors. Shares rose 1.6% in pre-market trading.

Mattel (NASDAQ:MAT) – Private equity firm L Catterton, linked to LVMH, made a purchase proposal for Mattel, the toy manufacturer. This could attract other interested parties, such as Hasbro, which may also consider making an offer.

Alibaba (NYSE:BABA) – Chinese companies raised a record $14 billion in offshore convertible bonds this year, an increase of 1,588% from last year. Alibaba Group raised $5 billion in May, while Ping An Insurance completed a $3.5 billion transaction last week. This growth reflects renewed investor interest in China, especially after a period of capital market downturn and IPOs. Shares fell 1.1% in pre-market trading.

Reddit (NYSE:RDDT) – Reddit partnered with major sports leagues like the NFL, NBA, and MLB to enrich its site with sports video content. This strategy aims to boost the platform’s advertising revenue by offering game videos, behind-the-scenes moments, and direct interactions with athletes. The company seeks to attract more advertisers by improving the quality and variety of its visual content.

Warner Bros Discovery (NASDAQ:WBD) – TNT Sports, a Warner Bros Discovery company, decided to match Amazon’s $1.9 billion per season offer to broadcast NBA games. The decision aims to maintain its long-standing partnership with the league, which has signed deals with ESPN, NBCUniversal, and Amazon for upcoming contracts. Shares fell 0.8% in pre-market trading.

AMC Entertainment Holdings (NYSE:AMC) – AMC extended the maturity of up to $2.45 billion in debt until 2029. The company will transfer assets and rights of 175 theaters to the new subsidiary Muvico and convert part of the debt into equity, helping to reduce its debt by $464 million. Shares fell 2.1% in pre-market trading.

Walt Disney (NYSE:DIS) – India’s antitrust body intensified its evaluation of the merger between Reliance Industries and Walt Disney, an $8.5 billion deal, asking about 100 questions on details such as sports rights. The deal would form India’s largest entertainment conglomerate, raising concerns about the concentration of cricket rights and impacts on competition. The companies claim the merger would not harm the market, but the regulator seeks more clarifications. Shares fell 0.1% in pre-market trading.

Comcast (NASDAQ:CMCSA) – Comcast is betting on the 2024 Paris Olympics to boost Peacock, its streaming service. The company hopes to attract new subscribers by offering exclusive Games coverage and high-tech content. Peacock’s performance at the Olympics is seen as crucial for competing with rivals like Netflix and Disney+.

McDonald’s (NYSE:MCD) – McDonald’s extended its $5 meal offer until August, after approval from 93% of U.S. restaurants. The promotion, launched in June to attract budget-conscious customers, helped increase store traffic and compete with offers from rivals like Burger King and Wendy’s.

New York Community Bancorp (NYSE:NYCB), JPMorgan Chase (NYSE:JPM) – NYCB sold about $5.9 billion in mortgage loans to JPMorgan Chase. The deal improves NYCB’s liquidity and capital as it seeks to return to profitability. The bank also plans to sell another $200 million in loans soon.

Barclays (NYSE:BCS) – Barclays asked the London High Court to dismiss more than half of a $720 million lawsuit accusing it of misleading investors about its operations in “dark pools” trading platforms. The bank faces allegations that it failed to adequately inform shareholders, leading to a significant loss in market value in 2014. The case will be initially heard in October 2025. Shares fell 0.6% in pre-market trading.

Goldman Sachs (NYSE:GS) – Goldman Sachs Alternatives, the investment arm of Goldman Sachs, acquired seven logistics properties in Australia to expand its portfolio. These sites are strategically located in urban areas of cities like Adelaide, Brisbane, Perth, and Melbourne, primarily targeting e-commerce and distribution companies. These properties facilitate rapid delivery of products to end consumers.

Julius Baer Group (USOTC:JBAXY) – Julius Baer appointed Stefan Bollinger as its next CEO, coming from Goldman Sachs, where he co-led private wealth management. The choice aims to overcome the Signa real estate scandal after the bank’s $700 million exposure to the failed business. Bollinger will take over by February 1, 2025, marking a new beginning for the Swiss bank after significant management and reputation challenges. Julius Baer shares rose 1.4% in pre-market trading.

Blackstone (NYSE:BX) – Blackstone’s first private equity fund for individual investors in Japan raised $1.2 billion in just four months, reflecting growing Japanese interest in alternative investments. This interest is driven by government incentives to diversify investments beyond traditional stocks and bonds, especially in a context of rising inflation. The fund, which requires a significantly higher minimum investment than the local average, is popular among wealthier investors.

Coinbase Global (NASDAQ:COIN) – Brian Armstrong, CEO of Coinbase, was removed from the Giving Pledge, an initiative where billionaires commit to donating a large portion of their wealth to charity. Armstrong, who joined in 2018 as the first representative from the cryptocurrency sector, was removed without public explanation by the Gates Foundation, which confirmed his departure but did not comment on the reason. Armstrong had expressed in 2018 his desire to use his wealth to improve education and economic freedom. Shares fell 1.6% in pre-market trading.

Boeing (NYSE:BA) – Boeing’s Wisk Aero aims to launch its autonomous air taxi by the end of the decade, despite doubts about regulation and technology. The company is developing a four-seat electric aircraft with a range of 145 km. Wisk differentiates itself by opting for a pilotless model, aiming to reduce costs. Boeing led sales on the first day of the Farnborough International Airshow, achieving about $12.6 billion in orders. Korean Air committed to acquiring up to 50 Boeing planes, including 20 777-9 models and 20 787-10 models, with options for another 10 787 Dreamliners. Additionally, Boeing signed a deal for 20 787 Dreamliner aircraft with Japan Airlines. Shares rose 0.1% in pre-market trading.

Embraer (NYSE:ERJ) – Embraer signed a contract to sell nine C-390 Millennium military aircraft to the Netherlands and Austria. Delivery will begin in 2027 and extend to 2030. This is Embraer’s largest export contract for the C-390, reinforcing its presence in the European defense market. Shares rose 0.7% in pre-market trading.

Delta Air Lines (NYSE:DAL) – Delta, affected by a global cyber disruption, canceled more than 4,000 flights since Friday. The disruption, triggered by a faulty software update from CrowdStrike that affected Windows systems, including many airlines, severely impacted Delta’s operations. The Atlanta-based company canceled over 800 flights on Monday alone, accounting for about 21% of its scheduled flights. CEO Ed Bastian stated that the situation is gradually improving and expects a full recovery in the coming days.

Tesla (NASDAQ:TSLA) – The electric vehicle maker will release its earnings report on Tuesday, and it is expected that the margin will drop to the lowest level in five years due to discounts and incentives. The company is betting on the development of robotaxis and AI products to recover margin and drive growth. Vehicle sales and technological advancements are priorities for Tesla’s recovery. Additionally, CEO Elon Musk announced that Tesla will begin low-scale production of humanoid robots for internal use in 2024, with plans to expand to high production for other companies by 2026. The robot, called Optimus, is expected to perform tasks in the factory and be ready for sale by the end of 2025. Shares rose 0.5% in pre-market trading.

Stellantis (NYSE:STLA) – The NHTSA has initiated a preliminary evaluation of about 150,000 Stellantis vehicles, including the 2022 RAM 1500 pickups and Jeep Wagoneer SUVs, following 80 reports of power loss and unexpected engine shutdowns, often at low speeds. The issue also involves the vehicle shifting to park mode and activating the emergency brake, with a battery failure warning light on the dashboard. Shares fell 1.8% in pre-market trading.

Toyota Motor (NYSE:TM) – Toyota will buy back 806.8 billion yen (approximately $5.2 billion) of its own shares from Japanese banks and insurers. This move is part of a broader plan to eliminate cross-shareholdings with financial partners, aligning with government guidelines to unwind long-standing strategic ties and improve corporate governance. This action may encourage other major Japanese companies to do the same.

Berkshire Hathaway (NYSE:BRK.B) – Warren Buffett’s Berkshire Hathaway reduced its stake in Chinese electric vehicle maker BYD to less than 5%, possibly ending disclosure obligations for future share sales. Berkshire’s stake fell to 4.94% after selling shares acquired in 2008.

Petrobras (NYSE:PBR) – Brazilian fertilizer manufacturer Unigel is demanding compensation from Petrobras for losses at two leased plants, which have been idle since last semester. A natural gas-for-fertilizers exchange deal failed, worsening Unigel’s financial situation, which now seeks reimbursement for the losses suffered. Both companies aim to resume production but are currently in arbitration.

SunPower (NASDAQ:SPWR) – The solar energy company faces tough times. Recently, it announced it would no longer lease solar panels for homes, following an earlier decision to stop selling panels directly. This led analysts, like Joe Osha of Guggenheim Securities, to predict that SunPower may cease operations. The company’s shares have also plummeted in recent years, indicating serious challenges ahead. Shares fell 0.1% in pre-market trading.

Agilent Technologies (NYSE:A) – Agilent Technologies will buy drug manufacturer Biovectra for $925 million to expand its services to biotech companies and researchers. Biovectra, which offers manufacturing services and active ingredients for complex drugs, will be integrated into Agilent’s diagnostics and genomics unit.

Novo Nordisk (NYSE:NVO) – Novo Nordisk bought land in Odense, Denmark, for a potential new factory to meet the growing demand for its weight-loss drugs like Ozempic and Wegovy. The municipality approved the planning, and Novo will soon begin site preparation. The final investment decision will be made later this year after an internal review. Shares rose 0.6% in pre-market trading.

Solventum (NYSE:SOLV) – Activist fund Trian Fund Management is building a position in Solventum, believing the company has significant potential for value appreciation as an independent entity. Trian plans to work with Solventum’s management to drive growth and optimize the business portfolio. Solventum sells various medical products, from wound care to filtration technology. After Solventum split from 3M, its shares started trading at $80 and have since declined.

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