Starboard Acquires $1 Billion Stake in Pfizer; Rio Tinto Pursues Acquisition of Arcadium Lithium, and More

Pfizer (NYSE:PFE) – Activist investor Starboard Value acquired about $1 billion in Pfizer shares, seeking changes to improve performance. Former CEO Ian Read and former CFO Frank D’Amelio showed interest in supporting Starboard, according to Reuters. Pfizer is facing a significant decline in COVID-19 vaccine and drug sales, leading to a stock drop. Shares rose 2.2% pre-market after closing up 0.9% on Friday.

Rio Tinto (NYSE:RIO), Arcadium Lithium (NYSE:ALTM) – It was confirmed on Monday that Rio Tinto is negotiating the purchase of lithium producer Arcadium Lithium, estimated between $4 billion and $6 billion. The acquisition would strengthen Rio’s position as one of the largest lithium producers, essential for electric vehicle batteries. Falling lithium prices made Arcadium an attractive target. Shares fell 0.6% pre-market after closing down 0.2% on Friday.

Novo Nordisk (NYSE:NVO) – Danish pharmaceutical company Novo Nordisk announced a $158.2 million (864 million reais) investment to renovate its factory in Montes Claros, Brazil. This facility is responsible for a quarter of global insulin production and will implement sustainable projects. The announcement was made during a meeting between President Lula and Queen Mary of Denmark. Shares rose 1.0% pre-market.

BP (NYSE:BP) – BP abandoned its goal of cutting oil and gas production by 40% by 2030, adjusting its strategy to focus on short-term returns and increased investment in projects in the Middle East and the Gulf of Mexico. The company still aims for net-zero emissions by 2050 but prioritizes more profitable oil and gas assets. Shares rose 0.2% pre-market after closing up 1.3% on Friday.

Shell (NYSE:SHEL) – Shell’s refining profit margins fell 30% in Q3, reaching $5.5 per barrel due to declining global demand and new refineries. The company also expects lower earnings on October 31 due to petrochemical trading. However, increased liquefied natural gas (LNG) and oil production offset some losses. Shares rose 0.4% pre-market after closing up 0.1% on Friday.

Samsung Electronics (USOTC:SSNHZ) – Samsung Electronics is expected to report a more than fourfold increase in quarterly profits, reaching $7.67 billion (10.33 trillion won), driven by improved chip demand. However, its recovery is slowing due to a delayed response to the AI chip market and increased competition from rivals like SK Hynix and Micron.

Foxconn (USOTC:FXCOF) – Foxconn reported its highest quarterly revenue, driven by strong demand for AI servers, reaching $57.3 billion (T$1.85 trillion), a 20.2% increase year-over-year. The revenue boost came from AI server demand, with strong growth in its cloud and network division. Despite quarterly growth in consumer electronics, annual performance remained flat.

Micron Technology (NASDAQ:MU) – Micron Technology CEO Sanjay Mehrotra plans to sell up to $20 million in company shares starting November 7. The sale will occur through a trading plan under Rule 10b5-1, which automates transactions based on pre-established conditions like price and volume. Shares fell 0.4% pre-market after closing up 0.4% on Friday.

Alphabet (NASDAQ:GOOGL) – Google is testing checkmarks next to some companies in its search results to help users identify trusted sources and avoid fraudulent sites. This feature is aimed at protecting brands and offering accurate information. The feature is still in the experimental phase and is not widely available. Shares fell 0.5% pre-market after closing up 0.7% on Friday.

Meta Platforms (NASDAQ:META) – Meta Platforms launched Movie Gen, a new AI tool that creates or edits videos based on text prompts. The feature is currently available to some employees and partners to increase engagement across the company’s platforms. Meta is also testing a new “Local” tab on Facebook, showing users content based on location, such as neighborhood activities and items for sale. Additionally, Meta is developing an “Explore” tab and a full-screen video section to attract younger users. Shares fell 0.3% pre-market after closing up 2.3% on Friday.

OpenAI – OpenAI is now worth more than 87% of S&P 500 companies, becoming one of the most valuable private companies after raising $6.6 billion, reaching a valuation of $157 billion. Despite projecting $11.6 billion in revenue by 2025, the company expects $5 billion in losses this year. Investors see future potential, but Wall Street remains skeptical due to strong competition from companies like Google and Meta.

Trump Media & Technology (NASDAQ:DJT) – Trump Media & Technology, owner of Truth Social, saw its stock rise 2% on Friday after announcing the departure of COO Andrew Northwall on September 28. The company did not disclose the reason for his departure and plans to redistribute his duties internally. Shares, down 72% from their March peak, rose 2.7% pre-market.

Palantir Technologies (NYSE:PLTR) – Palantir Technologies shares rose 2% on Friday, reaching a new high of $40.01, following a 4.7% gain on Thursday. Recently, Chairman Peter Thiel sold more than 12.4 million shares for $457.4 million. Although shares are up 130% this year, some analysts are cautious due to high valuations and elevated multiples. Shares fell 0.4% pre-market.

Boeing (NYSE:BA) – Boeing will resume contract negotiations with its largest union, IAM, on October 7, aiming to resolve a strike involving around 33,000 workers. The company prioritizes an agreement due to rising debt and financial pressure, while seeking a 30% wage increase over four years. Additionally, Italian prosecutors charged seven people and two subcontractors with fraud and safety violations following an investigation into defective parts supplied to Boeing. The investigations revealed that the subcontractors used unsuitable materials, compromising aircraft safety. Boeing and Leonardo cooperated with the investigation, which identified over 5,000 non-compliant components. Shares fell 0.6% pre-market after closing up 3.0% on Friday.

General Motors (NYSE:GM) – General Motors temporarily suspended truck and SUV production at its Flint, Michigan, and Arlington, Texas, plants due to supplier disruptions caused by Hurricane Helene. The automaker is working with suppliers to resume operations quickly, minimizing impacts on its plants. Shares fell 0.1% pre-market after closing up 1.6% on Friday.

Stellantis (NYSE:STLA) – Stellantis sued the United Auto Workers (UAW) union for threatening a strike, alleging contract violations due to delays in planned investments. The automaker seeks compensation for financial losses and argues that investments depend on market conditions, while UAW claims the company backed out of agreed commitments. Shares fell 1.3% pre-market after closing up 1.8% on Friday.

Tesla (NASDAQ:TSLA) – Tesla’s Robotaxi Day is scheduled for Thursday, representing a crucial opportunity for the company to reinforce its leadership in automotive innovation. Shares rose 0.3% pre-market after closing up 3.9% on Friday.

Rivian Automotive (NASDAQ:RIVN) – Rivian lowered its annual production forecast due to parts shortages and weak demand for electric vehicles. The company now expects to produce between 47,000 and 49,000 vehicles, down from the previous forecast of 57,000, facing challenges in deliveries and costs. Rivian delivered 10,018 vehicles in Q3, missing analysts’ estimates of 12,078. The company reaffirmed its annual delivery forecast between 50,500 and 52,000 vehicles, while market expectations were 53,491. Additionally, Rivian applied for a federal loan to build its electric vehicle factory in Georgia, according to a U.S. Department of Energy document. While the loan amount and terms were not disclosed, the factory will begin partial operations in Q3 2027. Shares fell 0.6% pre-market after closing down 3.2% on Friday.

Wynn Resorts (NASDAQ:WYNN) – Wynn Resorts obtained the first commercial gaming license in the UAE, granted by the General Gaming Regulatory Authority. The company is developing a luxury resort on Wynn Al Marjan Island in Ras Al Khaimah, in partnership with Marjan and RAK Hospitality Holding. This decision follows legal reforms allowing gambling in the region. Shares rose 3.4% pre-market after closing up 2.3% on Friday.

Vista Outdoor (NYSE:VSTO) – Vista Outdoor Inc. agreed to sell its ammunition and outdoor gear divisions for approximately $3.4 billion. The outdoor gear unit, Revelyst, will be sold to Strategic Value Partners for $1.13 billion, while the ammunition business, Kinetic Group, will be acquired by Czechoslovak Group for $2.23 billion. Shares rose 6.8% pre-market after closing up 1.1% on Friday.

McDonald’s (NYSE:MCD) – McDonald’s will launch the Chicken Big Mac in the U.S. on October 10, replacing beef patties with fried chicken in the classic Big Mac. The launch is part of the expansion of its chicken offerings, including McNuggets and McCrispy, aiming to boost sales in a challenging year.

Goldman Sachs (NYSE:GS) – Goldman Sachs economists reported that the likelihood of a U.S. recession next year fell back to 15%, following a strong September jobs report. The 254,000 job increase and the unemployment rate falling to 4.1% supported expectations of moderate interest rate cuts by the Federal Reserve. Additionally, Goldman Sachs upgraded its recommendation for Chinese stocks to overweight, highlighting the positive impact of Beijing’s recent stimulus package. Analysts predict indices could rise 15%-20% if policy measures are implemented, though they caution about potential challenges, such as weaker fiscal stimulus and global risks. Shares fell 0.2% pre-market after closing up 1.9% on Friday.

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