Nike (NYSE:NKE) – Nike will cut over 1,600
jobs, about 2% of its workforce, to reduce costs after forecasting
lower profits. Nike outlined a $2 billion cost-saving plan over the
next three years, including measures such as supply optimization,
supply chain improvement, and automation, with layoff costs
estimated between $400 million and $450 million in the third
quarter. The staff cuts will not affect store employees,
distribution center workers, or innovation teams.
Nvidia (NASDAQ:NVDA) – Options traders in the
US are optimistic about Nvidia, anticipating a significant impact
following its next earnings report on February 21. An up to 11%
movement in the stock is predicted, the largest in three years,
reflecting a potential $200 billion increase in its market
capitalization. The demand for call options remains high, even as
the company has already appreciated 50% this year. Nvidia is on the
verge of surpassing Alphabet (NASDAQ:GOOGL) as the
third most valuable company in the US, with earnings and revenue
estimates rising for the next quarter.
Taiwan Semiconductor Manufacturing (NYSE:TSM) –
TSMC is on the brink of reclaiming its spot among the world’s 10
most valuable companies, driven by a $42 billion rally on Thursday,
fueled by optimism regarding artificial intelligence. Investors are
bullish on its role in supplying AI chips.
Alphabet (NASDAQ:GOOGL) – Google plans to
launch an anti-disinformation campaign in five European Union (EU)
countries ahead of the parliamentary elections. With the European
Digital Services Act, this initiative aims to combat the spread of
illegal content online and influence voters. Moreover, Google
unveiled an initiative to strengthen online security with
artificial intelligence (AI) tools and investments. It will launch
an open-source AI-driven feature to detect malware and publish a
white paper at the Munich Security Conference in Germany, proposing
advanced AI research for cyber defense.
Apple (NASDAQ:AAPL) – Apple plans to launch an
artificial intelligence tool to complete software code, akin to
Microsoft’s Copilot. The tool will be available in Xcode later this
year. Additionally, the company considers integrating AI features
into its products, such as automatic playlists for Apple Music.
Meta Platforms (NASDAQ:META) – Meta has updated
its guidelines to help small businesses avoid Apple’s extra fees
when purchasing ads on Facebook and Instagram for iPhone. This has
intensified the rivalry between the companies, with Meta
criticizing Apple’s policy, while Apple questions Meta’s data
usage.
Nokia (NYSE:NOK), Dell
Technologies (NYSE:DELL) – Nokia and Dell Technologies
have formed a partnership to deploy private 5G networks and adapt
infrastructures to the cloud. The agreement involves migrating
customers from Nokia AirFrame to Dell’s PowerEdge servers, aiming
to meet the increasing demands of modern networks and private 5G
use cases.
Walt Disney (NYSE:DIS) – India’s Reliance
Industries is in talks to acquire Disney’s stake in the satellite
TV provider Tata Play, aiming to expand its media presence. The
company seeks to offer its JioCinema content to Tata customers,
according to Reuters.
Herbalife (NYSE:HLF) – Herbalife shares are up
2% in pre-market trading, after plummeting 32% on Thursday,
reaching a 14-year low. Activist investor Bill Ackman has revived
his rivalry with the company, once again labeling it a “pyramid
scheme.” Despite sales improvements, analysts remain cautious, with
positive projections for the future.
Coca-Cola (NYSE:KO) – Coca-Cola has reinforced
its position as a dividend leader with a 5.4% increase, raising the
quarterly payment to 48.5 cents per share. With 62 years of
dividend increases, Coca-Cola stands out among the few companies
with such a record, including Procter & Gamble
(NYSE:PG) and Johnson & Johnson
(NYSE:JNJ).
JPMorgan Chase (NYSE:JPM), State
Street (NYSE:STT) – JPMorgan Chase and State Street have
exited a global climate coalition, followed by
BlackRock (NYSE:BLK), which transferred its
membership to its international subsidiary, reducing the total
involvement by about $14 trillion. The move comes amid political
criticisms and pressures on their independence.
NatWest (NYSE:NWG) – NatWest confirmed Paul
Thwaite as the permanent CEO on Friday, reporting a profit for 2023
above forecasts. Its shares rose 3.3% in pre-market trading. The
pre-tax profit was £6.2 billion, with a £300 million share buyback
announced. Thwaite will lead the planned government share sale.
General Motors (NYSE:GM) – Carl Jenkins, GM’s
head of hardware, announced his resignation on Thursday, following
a series of departures since the suspension of the autonomous unit
Cruise’s operations in the US in October. Jenkins led the
development of Cruise’s autonomous hardware over the past six
years.
Ford Motor (NYSE:F), General
Motors (NYSE:GM) – The CEOs of Ford and General Motors
expressed interest in partnerships to cut electric vehicle
technology costs amid growing competition from Chinese
manufacturers. Ford projects significant EV losses this year,
seeking competitive alternatives.
Lucid Group (NASDAQ:LCID) – Lucid Group has
reduced the prices of its luxury Air sedans by up to 10% to boost
demand in a weak electric vehicle market. In the US, prices now
start at $69,900 for the Air Pure, with additional incentives
announced for accessories and maintenance.
Lockheed Martin (NYSE:LMT) – Lockheed Martin
stated on Thursday that it is accelerating the production of its
weapon systems to meet growing demand, driven by global security
concerns, including the war in Ukraine, the conflict in the Middle
East, and tensions with China.
Exxon Mobil (NYSE:XOM) – Exxon Mobil plans to
choose by the end of the year the lithium filtration technology for
Arkansas, aiming to become a major global producer of the metal for
batteries. The company has tested various direct extraction
technologies and expects to start production by 2026. In related
news, the New York State Retirement Fund will limit investments in
oil and gas companies, partially divesting from Exxon Mobil,
following a review on readiness for a low-carbon economy. The fund
will continue to hold Exxon passively, while restricting other
sector companies.
Shell (NYSE:SHEL) – Shell, a leading energy
company, may abandon bidding for Norway’s first commercial offshore
wind farm due to uncertainties about its profitability. The contest
conditions are challenging, raising doubts about participation. The
global wind industry faces cost and inflation challenges.
General Electric (NYSE:GE) – General Electric
filed the anticipated Form 10 on Thursday, detailing the future
split into GE Aerospace and GE Vernova. Vernova will start
debt-free, with $4.2 billion in cash. It will operate in three
segments: power, wind, and electrification, aiming to lead the
energy transition.
Earnings
The Trade Desk (NASDAQ:TTD) – After the digital
advertising company reported a quarterly revenue of $606 million,
exceeding Wall Street’s $582 million estimate, shares soared 19.2%
in pre-market trading. Additionally, the company’s first-quarter
revenue forecast also surpassed analysts’ expectations,
highlighting confidence in continued growth and boosting investor
optimism.
Coinbase (NASDAQ:COIN) – The cryptocurrency
exchange’s shares surged 13.2% in pre-market trading, driven by a
fourth-quarter earnings announcement of $1.04 per share and revenue
of $954 million. These results surprised analysts, who had
predicted a 1 cent per share loss on $822 million in revenue, as
reported by LSEG.
Doordash (NYSE:DASH) – DASH shares are down
6.8% in pre-market trading following the food delivery company’s
mixed fourth-quarter results. Despite a 27% revenue increase to
$2.3 billion, surpassing LSEG’s expectations, the 39-cent per share
loss was greater than anticipated. The total number of orders rose
23% to 574 million, above the expected 561 million.
Toast (NYSE:TOST) – Following the
fourth-quarter results announcement, shares of the restaurant
point-of-sale system manufacturer rose 5.2% in pre-market trading.
The company reported a 7-cent per share loss, below analysts’
11-cent per share loss expectation, as informed by LSEG.
Additionally, the $1.04 billion revenue was nearly in line with the
$1.02 billion expectation.
DraftKings (NASDAQ:DKNG) – After the sports
betting company reported an unexpected fourth-quarter loss of 10
cents per share, contrasting with analysts’ 8-cent per share
earnings expectation as reported by LSEG, shares fell 3.3% in
pre-market trading. Moreover, revenue slightly missed analysts’
estimates, totaling $1.23 billion compared to the expected $1.24
billion, adding more pressure on the company’s performance.
Roku (NASDAQ:ROKU) – After the streaming
provider reported a larger-than-expected fourth-quarter loss of 55
cents per share, compared to the 52 cents per share expected by
LSEG analysts, shares fell 14.1% in pre-market trading. However,
the $984 million revenue exceeded the $968 million estimate.
Dropbox (NASDAQ:DBX) – After the file hosting
service operator reported fourth-quarter adjusted earnings of 50
cents per share on $635 million in revenue, shares fell 9% in
pre-market trading. Analysts had expected earnings of 48 cents per
share on $631 million in revenue, according to LSEG.
Yelp (NYSE:YELP) – After announcing projections
below analysts’ expectations for the first quarter, both for
adjusted EBITDA and revenue, shares fell about 9.2% in pre-market
trading. Additionally, the fourth-quarter earnings per share also
fell short of forecasts, as reported by LSEG. During the period,
Yelp recorded a profit of 37 cents per share and revenue of $342.4
million.
Applied Materials (NASDAQ:AMAT) – Shares of the
semiconductor equipment manufacturer surged 12% in pre-market
trading, driven by beating earnings estimates and an optimistic
outlook for the fiscal second quarter. In the first quarter,
earnings per share reached $2.13, excluding items, surpassing
LSEG’s $1.90 per share expectation. Additionally, the period’s
revenue reached $6.71 billion, exceeding the $6.48 billion
estimate.
Texas Roadhouse (NASDAQ:TXRH) – In the fourth
quarter, earnings per share exceeded consensus analyst estimates as
reported by FactSet. Moreover, Texas Roadhouse announced a
significant increase in its dividends, raising them by 11%.
Oatly (NASDAQ:OTLY) – Oatly shares fell 3.3%,
with the fourth-quarter net loss widening to $298.7 million, or 50
cents per share, more than doubling from the previous year. Revenue
reached $204.1 million, surpassing estimates. The company faces
financial challenges, with debt of about $444 million, but
approximately $454 million in liquidity.
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