Trump Media & Technology Group (NASDAQ:DJT)
– Trump Media & Technology Group announced that the SEC
approved the resale of shares and warrants, expecting to raise
about $247 million. With the warrants now exercisable, they plan to
expand Truth Social and consider mergers. The company’s stock has
fallen 46% in value since it closed its Nasdaq listing in March.
Its current market capitalization is approximately $8.83 billion.
The shares fell 5.4% in pre-market trading.
KB Home (NYSE:KBH) – In the second fiscal
quarter, KB Home reported net income of $168.4 million, or $2.15
per share, beating analysts’ expectations of $1.80 per share.
Revenue was $1.71 billion, above the expected $1.65 billion. Home
orders increased 2% to 3,997, with the value of orders rising to
$2.03 billion. The average selling price rose from $479,500 to
$483,000. Shares rose 1.7% in pre-market trading.
Nvidia (NASDAQ:NVDA) – Nvidia acquired
Shoreline.io for around $100 million. Based in Redwood City,
California, the software startup Shoreline develops solutions for
detecting problems in computer systems and automating fixes.
Founded in 2019 by Anurag Gupta, a former AWS executive, Nvidia saw
its shares rise 2.7% in pre-market trading after becoming the most
valuable listed company on Tuesday. Its market valuation reached
$3.35 trillion.
Apple (NASDAQ:AAPL) – Apple has halted the
development of its high-end version of the Vision Pro headset,
opting to focus on a more affordable model, according to a report.
This shift may reflect a strategy to compete directly with Meta
Platforms, which leads the mixed reality market with its more
affordable Quest 3.
Meta Platforms (NASDAQ:META) – A US judge
dismissed Meta Platforms’ attempt to throw out a lawsuit filed by
Australian magnate Andrew Forrest over fraudulent Facebook ads
using his image. The judge allowed Forrest to claim negligence and
misappropriation by Meta, highlighting the company’s potential
responsibility for profiting from these ads.
Qualcomm (NASDAQ:QCOM) – Qualcomm agreed to pay
$75 million to settle a shareholder lawsuit accusing it of
concealing anticompetitive practices. Allegations included
artificially inflating stock prices between 2012 and 2017 by not
properly disclosing sales and licensing practices. The company
denied wrongdoing in agreeing to the settlement.
Advanced Micro Devices (NASDAQ:AMD) – AMD
reported that hackers obtained limited information during a recent
cyberattack, stating it will not significantly impact their
operations. The intrusion involved accessing product specifications
through a third-party supplier but did not compromise critical
business data.
Hewlett Packard Enterprise (NYSE:HPE),
Juniper Networks (NYSE:JNPR) – The UK is
investigating Hewlett Packard Enterprise’s $14 billion acquisition
of Juniper Networks for potential antitrust concerns. The
Competition and Markets Authority is examining whether the merger
could impact competition in the network device market, including
routers and switches.
Dell Technologies (NYSE:DELL), Super
Micro Computer (NASDAQ:SMCI) – Elon Musk announced that
Dell Technologies will supply half of the server racks for the
supercomputer of xAI, his artificial intelligence startup, while
Super Micro Computer will provide the other half. This initiative
aims to support the advanced development of xAI’s Grok chatbot,
planned to operate by 2025.
Amazon (NASDAQ:AMZN) – Just Eat Takeaway
announced on Wednesday an agreement to provide free delivery for
Amazon Prime members in Germany, Austria, and Spain on food orders
above 15 euros ($16.13). The deal, with no financial details
disclosed, marks the first European collaboration between the two
companies. Elsewhere, Amazon was fined $5.9 million by California
for failing to properly inform workers about productivity quotas in
its warehouses. The company faces criticism and union allegations
related to the quota system, which may affect working conditions
and safety. Amazon denies fixed quotas and is appealing the fines.
Additionally, Amazon announced an additional $10.7 billion (€10
billion) investment in Germany to expand its cloud and logistics
infrastructure, including €8.8 billion to build data centers in the
Frankfurt region by 2026.
Netflix (NASDAQ:NFLX) – Netflix is expanding
its local production in Southeast Asia to increase its subscriber
base. Focused on original content, such as the Thai thriller
“Hunger” and the Indonesian series “Cigarette Girl,” the platform
aims to meet the demand for authentic regional stories. This
contrasts with American rivals like Disney and Amazon, which are
cutting investments in the region due to profitability
pressures.
EchoStar (NASDAQ:SATS) – Creditors of Hughes
Satellite Systems are investigating a costly leasing deal with
EchoStar, accusing it of diverting money from Hughes to its parent
company. Concerns include elevated fees and significant payments to
EchoStar, potentially impacting Hughes’ earnings and leading to
legal considerations, including litigation.
Walmart (NYSE:WMT) – Walmart agreed to pay
$1.64 million to settle New Jersey’s allegations of illegal pricing
practices in its 64 stores in the state. Irregularities included
more than 2,000 incorrect measures, making it difficult for
consumers to compare prices, violating state display
regulations.
Best Buy (NYSE:BA) – Best Buy is launching a
major training initiative for its employees, preparing them to sell
and support Microsoft’s new Copilot+ PCs, which integrate
artificial intelligence. This effort is crucial to boost sales and
reverse recent declines, focusing on educating about new
technologies like neural chips and advanced AI features.
Dollar Tree (NASDAQ:DLTR) – Dollar Tree kept
lead-contaminated applesauce on shelves for nearly two months after
the initial recall, according to an FDA letter. The company faces
criticism for its inadequate handling of the issue and is
strengthening its compliance controls under new leadership.
Toyota Motor (NYSE:TM) – Toyota Motor announced
it will suspend six production lines at five of its plants in Japan
starting Thursday due to a lack of components. A company
spokesperson stated that the decision on when to resume production
will be made on Friday.
Tesla (NASDAQ:TSLA) – Judge Trina Thompson
allowed owners to sue Tesla for alleged monopoly over repairs and
parts, citing practices that limit authorized service centers and
restricted parts sales. The decision revived a previously dismissed
class action, accusing Tesla of coercion and antitrust
violations.
Ferrari (NYSE:RACE) – Ferrari will launch its
first electric car for at least €500,000, indicating confidence in
demand from ultra-rich customers despite the trend in the electric
vehicle market. The new factory in Maranello will be able to
increase production to around 20,000 vehicles annually while
maintaining the brand’s exclusivity. Additionally, the factory will
expand Ferrari’s capabilities, having an assembly line for
gasoline, hybrid, and fully electric vehicles, and manufacturing
specific components for hybrid and electric vehicles.
Polestar Automotive (NASDAQ:PSNY) – Hakan
Samuelsson, chairman of Polestar Automotive Holding UK, plans to
step down amid a board restructuring at the electric vehicle
manufacturer. This change comes in the context of operational
challenges and a decline in the stock price since its listing in
2022, reflecting lukewarm demand for EVs and regulatory compliance
issues.
Momenta Global Limited – China’s securities
regulator approved the IPO of autonomous driving startup Momenta
Global Limited in the US. Momenta plans to list up to 63,352,856
ordinary shares on the Nasdaq or New York Stock Exchange. China has
also advanced with autonomous vehicle tests as part of its
accelerated adoption plan.
Boeing (NYSE:BA) – US senators confronted
Boeing CEO Dave Calhoun in a tense hearing over ongoing safety and
corporate management concerns. Questioned about his significant
compensation amid persistent 737 MAX problems and recent incidents,
the hearing highlighted tensions over his leadership and Boeing’s
crisis response. Calhoun took responsibility for the incidents,
committing to improving the company’s safety practices. Meanwhile,
families of the 737 Max crash victims are requesting a nearly $25
billion fine from the DOJ, alleging one of the worst corporate
crimes in US history. Additionally, a Boeing inspector revealed
that the company handled and lost hundreds of defective parts, some
possibly installed in new 737 Max planes, detailing failures in
managing non-conforming parts and accusing Boeing of hiding
inadequately stored components from the FAA before inspections.
Regarding the Starliner mission, Boeing and NASA delayed the return
of two astronauts from the International Space Station by four days
due to technical issues with the CST-100 Starliner capsule.
Embraer (NYSE:ERJ) – Embraer is focused on
expanding sales of its C-390 Millennium aircraft in strategic
markets such as India, Saudi Arabia, the European Union, and the
US. With open bids in India and Saudi interest in replacing their
C-130 Hercules, the company seeks to increase its international
presence, especially in the US and NATO. Additionally, Embraer is
negotiating sales of E2 jets to Latam Airlines and Gol, aiming to
increase revenues to $10 billion by 2030. With strong demand for
narrow-bodies, the company seeks to fill gaps and improve
connectivity between Brazilian cities while facing supply
challenges until 2026.
Wolfspeed (NYSE:WOLF) – Wolfspeed delayed the
construction of a $3 billion semiconductor factory in Germany,
reflecting the European Union’s challenges in expanding local chip
production and reducing dependence on Asian suppliers. The company
cut spending after the slowdown in electric vehicle markets and now
focuses on increasing production in New York.
GE Aerospace (NYSE:GE) – GE Aerospace is
developing a hybrid electric engine for future narrow-body jets,
aiming for a launch in the next decade. The technology, still in
testing, promises to transform hybrid jets into the aerial
equivalents of the Toyota Prius, potentially significantly cutting
global aviation carbon emissions. Additionally, GE Aerospace faces
ongoing global supply chain challenges despite the slowdown in
Boeing’s production. Concerns persist for next year, with efforts
to align with production rates and resolve bottlenecks, including
using advanced technology to improve efficiency and reduce delivery
times.
US Steel (NYSE:X) – Nippon Steel, planning to
acquire US Steel, faces risks of rising decarbonization costs,
according to activist shareholders. They urge the company to review
the impact of this acquisition on its climate goals, especially
considering the addition of 11 blast furnaces, which could
intensify challenges and costs associated with reducing carbon
emissions.
Nasdaq (NASDAQ:NDAQ) – Nasdaq Stockholm was
fined $9.59 million (100 million Swedish crowns) by Sweden’s
financial authority for failing to monitor and report suspicious
trading, and for violating rules by initiating trading of financial
instruments on two occasions.
JPMorgan Chase (NYSE:JPM) – In recent years,
India has transformed from a peripheral emerging market to a
central component of global portfolios, with its stock market now
ranked as the world’s fifth largest. Currently, the focus is on its
robust $1.3 trillion sovereign debt, standing out amid the economic
challenges faced by Russia and China, driving significant increases
in foreign interest and investments. This movement was catalyzed by
JPMorgan’s decision to include Indian government bonds in its
primary emerging markets index, scheduled for June. In China, tech
stocks are rising due to economic recovery and improved earnings
expectations. Alex Yao of JPMorgan forecasts a 20% to 25% upside,
highlighting that the sector could be rewarded for sustainable
profits despite regulatory and competitive concerns.
Citigroup (NYSE:C) – According to Reuters,
Citigroup is committed to expanding its operations in Europe
despite political uncertainties that have concerned investors. Even
facing political instability, including upcoming elections in the
UK and France, the bank sees this as a chance to advise and assist
its clients. Ignacio Gutierrez-Orrantia was recently appointed CEO
of Citibank Europe, aiming to lead the bank to industry leadership
in the region within three to five years.
Taiwan Semiconductor Manufacturing Co
(NYSE:TSM), Goldman Sachs (NYSE:GS) – Investors
are using options to explore arbitrage between TSMC shares traded
in Taiwan and their American Depositary Receipts (ADR) in the US,
whose prices diverge. Goldman Sachs suggests strategies of buying
puts on the ADRs and selling corresponding puts on Taiwan shares to
manage risks and profit from price convergence. Optimism around
TSMC has grown, driven by forecasts of high demand related to
artificial intelligence and potential price increases in 2025.
Carlyle Group (NASDAQ:CG), KKR &
Co (NYSE:KKR), Discover Financial
Services (NYSE:DFS), Energean (LSE:ENOG)
– Carlyle Group and KKR are leading bids for Discover Financial’s
$10 billion student loan portfolio, according to the Financial
Times. The private equity firms are intensifying their credit
investments, working together on the bid. Additionally, Energean
agreed to sell its oil assets in Egypt, Italy, and Croatia to
Carlyle for up to $945 million. The deal includes an initial
payment of $504 million, allowing the company to pay a special
dividend and repay debt.
Johnson & Johnson (NYSE:JNJ) – Johnson
& Johnson is facing a new class action lawsuit seeking damages
and medical monitoring for women who used their talc products and
developed or may develop cancer. This lawsuit, filed in New Jersey,
is the first to seek regular testing for early cancer detection
among the company’s talc users.
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