Apple (NASDAQ:AAPL) – Meta
Platforms (NASDAQ:META), Microsoft
(NASDAQ:MSFT), Match Group (NASDAQ:MTCH), and
X joined Epic Games in protesting against Apple,
accusing it of violating an injunction by restricting payment
options in the App Store, claiming price inflation and competition
hurdles. Furthermore, the U.S. Department of Justice is preparing
to sue Apple for alleged antitrust law violations, citing blocking
rivals’ access to iPhone features. Apple shares are down -1.2% in
pre-market trading.
Intel (NASDAQ:INTC) – Intel plans to spend $100
billion across four U.S. states to build and expand factories,
driven by federal grants. CEO Pat Gelsinger aims to transform
Columbus, Ohio, into an AI chip hub, with investments through
2027.
Synopsys (NASDAQ:SNPS) – Synopsys unveiled new
software tools on Wednesday to streamline the design of complex
systems, such as cars and data centers. Beyond chip creation, the
company aims to assist customers in developing products and
systems, exemplified by Tesla’s pioneering use.
Equinix (NASDAQ:EQIX) – Hindenburg Research
revealed a short position in Equinix, accusing it of inflating its
profitability by manipulating expenses. Allegations suggest a $3
billion increase in AFFO since becoming a REIT in 2015. Equinix is
investigating the accusations.
Astera Labs (NASDAQ:ALAB) – Astera Labs’ shares
surged in their trading debut, exceeding expectations by raising
$713 million in the initial public offering. The gain, the largest
since June 2021, reflects optimism around AI and a rebound in
listings. ALAB shares are up 6.00% in pre-market trading, priced at
$65.75.
Reddit – Reddit priced its initial public
offering at the top of its target range, raising $748 million and
giving a boost to the challenging tech IPO market. Reddit plans to
use 8% of the shares to attract retail investors.
Paramount Global (NASDAQ:PARA), Apollo
Global Management (NYSE:APO) – Apollo Global Management
offered $11 billion for Paramount Global, boosting acquisition
interest in the Paramount Pictures film studio, considered a jewel
of the media conglomerate. Other suitors include billionaire David
Ellison and media entrepreneur Byron Allen.
Boeing (NYSE:BA) – On Wednesday, CFO Brian West
informed analysts that Boeing will keep B737 jet production below
38 per month, now requiring fully compliant fuselages from supplier
Spirit AeroSystems (NYSE:SPR) at its Washington
factory.
Ryanair (NASDAQ:RYAAY) – Ryanair CEO Michael
O’Leary will meet with Boeing executives in Dublin to discuss
delays in 737 MAX 10 deliveries and certification. He emphasizes
the need for improvements in Boeing’s production systems and
quality control.
Tesla (NASDAQ:TSLA) – On Wednesday, Tesla
announced that most employees at its German factory rejected the IG
Metall union, opting for non-unionized representation on the new
workers’ council. The union still hopes to occupy most seats.
Li Auto (NASDAQ:LI) – Li Auto shares, a Chinese
electric vehicle company listed in the U.S., are down 7.2% in
pre-market trading after revising its delivery estimates for the
first quarter, projecting between 76,000 and 78,000 vehicles, down
from the previous forecast of 100,000 to 103,000, citing orders
below expectations.
Exxon Mobil (NYSE:XOM),
TotalEnergies (NYSE:TTE) – Suriname’s state-owned
oil company, Staatsolie, began negotiations with Exxon Mobil and
TotalEnergies to develop natural gas fields spanning the maritime
borders of Guyana and Suriname. The goal is to transform the South
American nation into a regional gas hub.
Shell (NYSE:SHEL) – On Wednesday,
Shell announced the sale of its 50% stake in
SouthCoast Wind Energy to joint venture partner Ocean Winds
North America for an undisclosed amount. The project aims
to develop offshore wind farms in Massachusetts.
Barclays Plc (NYSE:BCS) – Barclays plans to cut
hundreds of jobs in its investment bank to boost profits. The
restructuring includes layoffs in global markets and research. CEO
Venkatakrishnan seeks to make the unit more profitable with a focus
on advisory and equity underwriting.
Citigroup (NYSE:C) – Citigroup is cutting jobs
in its London investment banking division, aligning with the trend
of employee cuts on Wall Street due to the downturn in global
trading. The cuts affect around 20 employees, mainly junior
staff.
JPMorgan Chase (NYSE:JPM) – JPMorgan Chase
plans to appoint Alan Ho as CEO and Rita Chan as Senior Director to
lead its operations in China. These changes come amid adjustments
in regional leadership, including the departure of Asia-Pacific CEO
Filippo Gori.
Walmart (NYSE:WMT) – According to a Bloomberg
report, Walmart, known for its low prices, is transforming its
stores with attractive lighting, luxury brands, and stylish product
layouts. The investments aim to attract more affluent customers
without alienating its traditional value base.
Nike (NYSE:NKE) – Nike is set to report its
first quarterly revenue decline in nearly two years due to a
slower-than-expected boost from its direct-to-consumer strategy and
falling demand in North America, while rivals like Adidas also face
similar challenges.
Chipotle Mexican Grill (NYSE:CMG) – Chipotle’s
shares surpassed $3,000 for the first time on Wednesday, after the
board approved a 50-for-1 stock split aimed at attracting investors
with its high price. The fast-casual chain has seen record growth
due to steady demand for its offerings.
Alibaba (NYSE:BABA) – Former Alibaba Group CEO
Daniel Zhang will join Firstred Capital as managing partner,
focusing on mergers and acquisitions. After 16 years at Alibaba,
Zhang seeks a new direction in investments, including
technology.
Earnings
Micron Technology (NASDAQ:MU) – Micron saw a
15.9% increase in pre-market trading after beating revenue
forecasts and providing a solid outlook for the future. In the
fiscal second quarter, Micron reported revenues of $5.82 billion
and anticipates $6.6 billion for the next period, both figures
exceeding analysts’ expectations. The adjusted earnings per share
were 42 cents, while analysts had predicted a 25-cent per share
loss.
BioNTech (NASDAQ:BNTX) – BioNTech reported a
significant decline in revenues and profits in 2023, with revenues
of 3.819 billion euros and net profit of 930.3 million euros,
respectively. For 2024, it projects revenues between 2.5 billion
and 3.1 billion euros, aiming to launch its first cancer drug in
2026. Sales of the COVID-19 vaccine with Pfizer
(NYSE:PFE) fell 54% in the fourth quarter of 2023.
Five Below (NASDAQ:FIVE) – The discount
retailer faced a 12.4% drop in pre-market trading due to
underwhelming financial results and bleak outlooks for the fourth
quarter. Five Below reported earnings of $3.65 per share and
revenue of $1.34 billion. Analyst estimates surveyed by LSEG were
for earnings of $3.78 per share and revenue of $1.35 billion.
Additionally, the company issued conservative guidance for both the
current quarter and the full year, contributing to the pressure on
its shares.
Signet Jewelers (NYSE:SIG) – Signet Jewelers
reported an adjusted profit of $6.73, beating estimates, on sales
of $2.5 billion, which fell short of expectations. Furthermore, the
board declared a quarterly dividend of 29 cents, a 26% increase.
The forecasts for sales and profits were below analysts’
expectations.
Guess (NYSE:GES) – Guess’ shares rose 11.6% in
pre-market trading following strong fourth-quarter results. Guess
reported adjusted earnings of $2.01 per share and revenue of $891
million. Analyst estimates surveyed by LSEG were for earnings of
$1.56 per share and revenue of $856 million.
Chewy (NYSE:CHWY) – Chewy reported earnings of
7 cents per share and revenue of $2.83 billion, exceeding
expectations for a 5-cent per share loss and $2.77 billion in
revenue. However, the company issued conservative revenue guidance
for the current quarter, and its shares are down 1% in pre-market
trading.
General Mills (NYSE:GIS) – General Mills
achieved adjusted earnings of $1.17 per share and revenue of $5.1
billion in the fiscal third quarter, surpassing Wall Street
expectations. CEO Harmening highlighted investments in brand
building and innovation, while analysts reaffirmed a conservative
outlook.
KB Home (NYSE:KBH) – KB Home shares rose 2.4%
in pre-market trading after reporting earnings of $1.76 per share
and revenue of $1.47 billion, exceeding analyst estimates surveyed
by LSEG, which had forecast earnings of $1.57 per share and $1.46
billion in revenue.
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