Unilever (NYSE:UL) – Unilever
announced on Tuesday the spin-off of its ice cream unit, including
Magnum and Ben & Jerry’s, into an independent business,
accompanied by a cost-cutting program that would cut 7,500 jobs.
The initial action resulted in a 3.2% increase in shares in
pre-market trading.
Berkshire Hathaway (NYSE:BRK.A) –
Berkshire Hathaway has stepped up its share
repurchases, indicating that Warren Buffett sees the stock as
undervalued and an opportunity to use excess capital. Buying 3,808
Class A shares this year until March 6, it spent between $2.2
billion and $2.4 billion.
Nvidia (NASDAQ:NVDA) – At the annual
developers’ conference, Nvidia’s CEO Jensen Huang unveiled a new
B200 chip, 30 times faster than its predecessor, along with a suite
of software tools. The company aims to maintain its leadership
position in the AI industry. With 208 billion transistors, these
chips will power new data center products, reinforcing the
company’s position as one of the world’s most valuable. Nvidia also
announced an expansion of its partnerships with Chinese automakers,
including BYD, which will use Nvidia’s new chips to enhance
autonomous driving and other digital functionalities. It also
unveiled a hardware and software platform for building robots with
generative AI capabilities, named Project GR00T, including the
“Jetson Thor” computer system and genAI software, enabling robots
to mimic human life. Additionally, it launched an AI-powered
software platform for 6G technology research, simulating cloud
communication environments. Expected to launch commercially around
2030, 6G will require enhanced spectral efficiency in wireless
communications. Nvidia’s shares are down -0.57% in pre-market
trading.
Apple (NASDAQ:AAPL) – Apple
faces a lawsuit alleging that AirTags facilitate stalking. Although
the judge dismissed some claims, three plaintiffs remain with
allegations of negligence and product liability.
Apple claims to have implemented robust safety
measures.
Tesla (NASDAQ:TSLA) – Elon
Musk revealed that a ketamine prescription has been
beneficial for Tesla, in an interview with Don
Lemon. Musk, leading Tesla, SpaceX, and X, defended his use of the
drug as good for investors, following earlier reports about his
drug use. Tesla records a 0.6% pre-market
increase, after a 6.3% gain on Monday, being the best-performing
stock in the S&P 500 for the day. This increase followed
Tesla‘s announcement that it would raise the list
prices of the Model Y in the United States and Europe.
Fisker (NYSE:FSR) – Fisker
announced on Monday a six-week pause in electric vehicle production
and plans to raise up to $150 million in funding through the sale
of convertible notes. The company seeks to resolve a cash crisis
after missing an interest payment.
XPeng (NYSE:XPEV) – In the last quarter,
XPeng announced an adjusted loss of 28 cents per
American Depositary Share (ADS) with total revenue of $1.84
billion. The gross margin was 6.2%, lower than the previous year’s
8.7%, but an improvement compared to the -2.7% negative in the
third quarter of 2023. XPeng‘s shares in the US
register a 3.5% increase in pre-market trading.
Ford Motor (NYSE:F) – Regulators are
investigating a fatal accident in Texas involving a
Ford SUV that may have used assisted driving
technology. The NHTSA has included the incident in its list of
investigations, while Ford is actively
cooperating.
Embraer (NYSE:ERJ) – Embraer
anticipates an increase in aircraft deliveries in 2024, but supply
chain challenges limit potential. CEO Francisco Gomes Neto
estimates between 125 and 135 executive jets and 72 to 80
commercial planes.
Zscaler (NASDAQ:ZS) – Zscaler
has acquired the Israeli AI data startup Avalor, strengthening its
cloud security solutions. The $310 million deal reflects the
pursuit of innovation and strategic alignment with investors.
Synopsys (NASDAQ:SNPS), SoundHound
AI (NASDAQ:SOUN) – Synopsys registered a
2.92% increase in pre-market trading after announcing collaboration
with Nvidia (NASDAQ:NVDA) to streamline the chip design process and
automotive prototyping through the application of artificial
intelligence. Meanwhile, SoundHound AI saw a 2.55%
increase after revealing a partnership with Nvidia to integrate an
advanced voice assistant in vehicles.
Comtech Telecommunications (NASDAQ:CMTL) –
Comtech Telecommunications‘ shares fell 9.8% in
pre-market trading after a wider second-quarter loss per share and
challenging business conditions. Sales were $134.2 million, while
consolidated net bookings dropped to $141.8 million. The CEO
expects a recovery in the third quarter.
Walt Disney (NYSE:DIS) – Walt
Disney received a crucial endorsement from Glass Lewis on
Monday, urging shareholders to re-elect all company directors,
supporting the current leadership amid a heated boardroom battle.
The Glass Lewis recommendation was a setback for Trian Fund
Management and Blackwells Capital, who argue for changes in the
boardroom to rejuvenate the entertainment giant.
National CineMedia (NASDAQ:NCMI) –
National CineMedia exceeded analysts’ expectations
in the fourth quarter with earnings per share of 24 cents, above
the forecasted 8 cents. Its revenue of $90.90 million was 12.08%
higher than the analysts’ estimate of $81.10 million. Shares are up
24.2% in pre-market trading.
WW International (NASDAQ:WW) – WW
International shares, formerly known as Weight Watchers,
continued their pre-market recovery on Tuesday, driven by
expectations surrounding an Oprah Winfrey TV special. Shares rose
after the company predicted it would surpass its previous
projections.
Starbucks (NASDAQ:SBUX) –
Starbucks announced a new global leadership
structure on Monday, with Michael Conway appointed CEO of the North
America region and Brady Brewer as CEO of Starbucks International.
Conway, a partner at the company since 2013, will oversee teams in
Asia-Pacific, EMEA, Japan, and international licensed partners,
while Brewer will lead international operations. China will remain
under regional co-CEOs Belinda Wong and Molly Liu.
Alibaba (NYSE:BABA) – Alibaba
appointed Yan Xiaolei as the new CEO of Freshippo, replacing
founder Hou Yi. Hou will retire but continue as a senior advisor.
The change is part of Alibaba’s restructuring to regain growth and
overcome regulatory challenges.
Kroger (NYSE:KR) – Kroger
announced on Monday the definitive agreement to sell its specialty
pharmacy business to CarelonRx, a unit of the American health
insurer Elevance Health. Financial terms were not disclosed. The
sale does not include other Kroger pharmacies.
UnitedHealth Group (NYSE:UNH) –
UnitedHealth announced on Monday that it advanced
over $2 billion in payments to help financially affected healthcare
providers due to a cyberattack on its technology unit, Change
Healthcare. The company also launched its medical billing
software.
Pfizer (NYSE:PFE), Haleon
(NYSE:HLN) – On Tuesday, Haleon‘s major
shareholder, Pfizer, sold a stake of about $3.9
billion in the consumer health company, reducing its ownership to
22.6%. This is the first sale since Haleon was spun off from GSK
and listed in 2022.
AstraZeneca (NASDAQ:AZN) –
AstraZeneca announced it would acquire the
biopharmaceutical company Fusion Pharmaceuticals for approximately
$2 billion in cash, strengthening its focus on next-generation
cancer treatments. This is AstraZeneca’s second deal this month,
following the acquisition of Amolyt Pharma for $1.05 billion.
Novo Nordisk (NYSE:NVO) – The Novo Nordisk
Foundation, the major shareholder of the Danish pharmaceutical
company Novo Nordisk for obesity, plans to increase its donations
outside Denmark, citing global health, climate, and environmental
challenges. Most of its revenue already comes from abroad.
Additionally, Novo Nordisk will collaborate with Nvidia
(NASDAQ:NVDA) to build a supercomputer in Denmark, boosting
research in health, life sciences, and green transition. Partly
funded by the foundation, it will be one of the world’s most
advanced machines.
Acurx Pharmaceuticals (NASDAQ:ACXP) –
Acurx Pharmaceuticals‘ shares declined 26.6% in
pre-market trading following the announcement of an offering of
common shares. The company, based in Staten Island, New York, plans
to use the proceeds for clinical trials and research.
Augmedix (NASDAQ:AUGX) –
Augmedix shares saw a 15.9% increase in pre-market
trading, driven by fourth-quarter financial results that showed a
smaller loss per share and higher revenues. The company develops
software for medical documentation. During the fourth quarter, the
company said, its operational cash consumption improved to
$900,000, compared to $4.4 million in the same period last year.
Augmedix reported a fourth-quarter loss per share
of 9 cents on revenue of $12.6 million.
Goldman Sachs (NYSE:GS) – Stephanie Cohen,
former global head of platform solutions at Goldman
Sachs, left the bank on Monday, joining Cloudflare
(NYSE:NET) as its first chief strategy officer. Her departure is
the latest in a series of senior executives leaving
Goldman.
Morgan Stanley (NYSE:MS) – Morgan
Stanley raised its Brent oil price forecasts to $90 per
barrel for the third quarter of 2024, citing tighter supply-demand
balances due to OPEC+’s commitment and production restrictions on
Russian oil following recent drone attacks on its refineries. The
bank also reduced its supply forecast for OPEC and Russia by
0.2-0.3 million barrels per day for the second and third quarters,
anticipating a modest deficit in the second quarter, increasing to
a larger deficit in the third quarter.
Bank of America (NYSE:BAC) – Bank of
America is reducing office space at its central district
headquarters in Hong Kong, relocating employees to more accessible
locations in Kowloon. Additionally, a Bank of
America survey revealed that investors are increasing
their exposure to stocks in Europe and emerging markets at the
expense of the US and the tech sector. The optimism reflects the
highest risk appetite since 2021.
UBS Group AG (NYSE:UBS) – UBS
celebrates a year since the acquisition of Credit Suisse, a
milestone that boosted its market capitalization above $100
billion, strengthening its global position in wealth management.
The deal catalyzed immediate growth and leveraged its presence in
the US.
Nomura Holdings (NYSE:NMR) –
Nomura appointed Hemish Shah as head of flow rates
for Europe, the Middle East, and Africa, strengthening its
wholesale operations in the region. Shah, formerly of Deutsche
Bank, will report to Richard Volpe and Nat Tyce.
Mastercard Incorporated (NYSE:MA) –
Mastercard is expanding its reach in international
remittances through a partnership with Alipay, offering
near-instant transfers to consumers in their digital wallets.
China, already a major recipient of remittances, is a key market in
this global economic growth.
Robinhood Markets (NASDAQ:HOOD) –
Robinhood now offers commission-free trading in
the United Kingdom, with over 6,000 US stocks available. However,
the addition of margin lending is temporarily suspended while the
company continues discussions with the regulator.
DLocal (NASDAQ:DLO) – In the fourth quarter,
DLocal reported earnings of 10 cents per share,
falling short of analysts’ expectations of 15 cents. Additionally,
the Uruguayan cross-border payments company announced the
appointment of Mark Ortiz as its new chief financial officer,
resulting in a 12.3% drop in shares in pre-market trading.
Exxon Mobil (NYSE:XOM) – Exxon
Mobil‘s CEO Darren Woods stated on Monday that the company
seeks to establish its rights over Hess’s assets in Guyana in its
dispute with Chevron. Exxon seeks to confirm
existing contractual rights but is not looking to acquire Hess.
US Steel (NYSE:X) – Nippon Steel plans to move
its US headquarters to Pittsburgh if the acquisition of US
Steel is completed, as part of its efforts to secure the
deal. The proposed merger, facing resistance, includes employment
and investment commitments.
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