Novavax (NASDAQ:NVAX), Sanofi
(NASDAQ:SNY) – Novavax closed a $1.4 billion deal with Sanofi to
commercialize its Covid-19 vaccine and develop a new combined
vaccine against coronavirus and influenza, boosting NVAX shares by
56.70% in pre-market. The deal led Novavax to suspend its
continuity warning, reversing its previous financial decline.
Apple (NASDAQ:AAPL) – Apple plans to launch
artificial intelligence features through its own data centers
powered by internal chips later this year, according to Bloomberg
News. The chips, similar to those in Macs, will be used to process
advanced AI tasks in the cloud, while simpler tasks will be handled
on devices. Additionally, Apple apologized after criticism of its
new iPad Pro ad, which depicted musical instruments and creative
symbols being destroyed. The company stated that its goal is to
celebrate user expression. The ad, titled “Crush,” received online
backlash for its insensitivity.
Microsoft (NASDAQ:MSFT) – Microsoft will launch
its own mobile gaming store in July, offering an alternative to
Apple and Google’s app stores and their fees. The web-based store
will initially feature Microsoft games, such as Candy Crush Saga,
with discounts on in-game items. Xbox president Sarah Bond
announced the change during the Bloomberg Technology Summit. The
store will later open to other publishers. Bond emphasized the
store’s accessibility on all devices and countries, independent of
app store policies. Microsoft aims to create a store that
transcends ecosystems, allowing a consistent gaming experience
across consoles, PCs, and mobile devices.
Alphabet (NASDAQ:GOOGL) – OpenAI plans to
launch its AI-based search product on Monday. The product is an
extension of ChatGPT and allows for extracting information from the
web, competing with Perplexity, an AI startup, and intensifying
competition with Google.
Taiwan Semiconductor Manufacturing Company
(NYSE:TSM) – TSMC’s sales in April surged 60% to $7.3 billion
(NT$236 billion), driven by demand for artificial intelligence and
a recovery in consumer electronics products. The company exceeded
revenue growth estimates, strengthening its position as a global
leader in contracted chips.
Baidu (NASDAQ:BIDU) – Baidu’s head of media
relations, Qu Jing, resigned after videos endorsing the “996” work
culture, dismissing team well-being. His comments sparked debate in
China about the excessive demands of the tech industry. Qu later
apologized. “996” is a term representing a common work practice in
some tech companies in China, where employees are expected to work
from 9 am to 9 pm, six days a week, totaling 72 hours of work per
week.
Reddit (NYSE:RDDT) – CEO Steve Huffman
announced at the Bloomberg Technology Summit that Reddit plans to
introduce new products in the coming months, aiming to expand its
revenue sources beyond advertising. The company is considering
expanding its “user economy” and launching new versions of digital
gifts. Additionally, it aims to close data licensing deals and
explore international expansion and possible acquisitions.
Snap Inc. (NYSE:SNAP) – Snap’s CEO Evan Spiegel
expressed the company’s commitment to ensuring user safety,
especially for children, during the Bloomberg Technology Summit. He
emphasized Snapchat’s focus on personal connections, advocating for
shared responsibility among parents, companies, and online
platforms.
Spotify (NYSE:SPOT) – Julie McNamara, head of
Spotify Technology SA’s podcast studios, will leave the company
after nearly three years, as announced in a memo to the staff on
Thursday. Her departure highlights Spotify’s scaled-back ambitions
in the podcast space, with McNamara returning to her creative
roots.
T-Mobile (NASDAQ:TMUS), Verizon
Communications (NYSE:VZ), United States
Cellular (NYSE:USM) – T-Mobile and Verizon are in talks to
acquire parts of United States Cellular in separate transactions,
as reported by the Wall Street Journal. US Cellular shares
increased by 8.6% on Thursday. T-Mobile is close to closing a deal
for more than $2 billion to acquire a portion, taking over some
operations and wireless spectrum licenses, while Verizon’s
negotiations may be more prolonged and may not lead to a deal.
Vodafone (NASDAQ:VOD) – Next week will reveal
how cost cuts and capital spending will shape the profit growth and
cash flow for BT Group Plc, Deutsche Telekom AG, and Vodafone Plc.
The carriers have set an optimistic baseline, forecasting a strong
increase in free cash flow for Deutsche Telekom and Vodafone, while
BT seeks to justify its expansion strategy.
Rio Tinto (NYSE:RIO) – Rio Tinto considered an
offer for Anglo American, now under BHP’s control, with an
acquisition target of $39 billion. BHP has until May 22 to make a
formal offer.
Exxon Mobil (NYSE:XOM) – Calpers, the leading
US public pension plan, is considering voting against the
re-election of ExxonMobil’s CEO Darren Woods, due to shareholder
discontent over a lawsuit against climate-focused investors.
BP plc (NYSE:BP) – BP’s electric charging unit
is looking to expand in the United States following the disbandment
of Tesla’s EV charging team. BP prioritizes the Northeast, Sun
Belt, West Coast, and Great Lakes.
Tesla (NASDAQ:TSLA) – Tesla’s CEO Elon Musk
praised the expansion plans for the Supercharger network after
laying off nearly 500 employees responsible for the business. The
company will invest “much more” than $500 million this year in
expansion, a surprising move following its recent restructuring in
the charging division. In other matters, Tesla was accused by a US
labor agency of discouraging unionization at its Buffalo, New York
factory by banning the use of personal devices. These allegations
add to previous legal disputes over labor practices and racial
discrimination. Additionally, a federal judge expressed on Thursday
his inclination to compel Elon Musk to testify again in the SEC’s
investigation into his $44 billion purchase of Twitter.
Zeekr Intelligent Technology – The Chinese
electric vehicle manufacturer priced its US IPO at the top of the
indicated range, raising $441 million. The IPO values the company
at about $5.5 billion fully diluted. Strategic investors, including
parent company Geely Automobile, purchased significant shares.
Interest in the IPO comes amid fierce competition in China’s
electric vehicle market.
Ford Motor (NYSE:F) – Ford is considering
offering gasoline and hybrid vehicles beyond 2030 in Europe,
contrary to its earlier plan for a fully electric lineup. The
change is due to the slowdown in electric vehicle adoption in the
region and the increased demand for hybrids. The company stated
that it is closely monitoring the situation and will adapt as
necessary. Additionally, the US National Highway Traffic Safety
Administration (NHTSA) expressed “significant safety concerns”
regarding the recall of over 42,000 Ford Motor SUVs due to fuel
leaks that could cause engine fires. Ford proposed a software
update and the installation of drains, but the NHTSA questions the
effectiveness.
Boeing (NYSE:BA) – The US Securities and
Exchange Commission is investigating claims made against Boeing Co.
about air safety following a panel explosion on a 737 MAX flight.
The investigation aims to determine if there was deception to
investors.
Target (NYSE:TGT) – Target is planning to
reduce the offering of LGBTQ+-themed products in some of its stores
during Pride Month in June, following criticism last year. The full
line will be available online, and the decision on physical
presence will depend on store data analysis. The company will
maintain support for Pride events, offering a selected collection
of products in some stores and online.
Western Union (NYSE:WU) – Western Union
announced the resumption of its remittance service from the US to
Cuba after a three-month hiatus, restoring a vital connection for
Cubans and their families in the US. Remittances are crucial to
address the economic crisis exacerbated by sanctions and the
pandemic.
UBS Group AG (NYSE:UBS) – UBS is exploring an
incentive system for investment bankers who refer clients to the
wealth management business. CEO Sergio Ermotti seeks to expand the
bank’s invested assets following the acquisition of Credit Suisse,
aiming for continued growth in the wealth management market.
Bain Capital (NYSE:BCSF) – Bain Capital is
investing $250 million in Sikich, a Chicago-based business services
company. This is the first external investment in Sikich, founded
in 1982. CEO Christopher Geier views Bain’s involvement as crucial
for the next stage of development.
Sony (NYSE:SONY), Blackstone
(NYSE:BX), KKR (NYSE:KKR) – Sony and other
interested parties, including Blackstone and KKR, plan to acquire
Infocom Corp (USOTC:IFFOF) in a deal worth up to 200 billion yen.
Teijin Ltd, the parent company of Infocom, is looking to sell its
55% stake, with a second round of bidding scheduled for May.
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