GameStop (NYSE:GME) – GameStop
reported $1.79 billion in revenue for the fourth quarter, which is
less than the $2.23 billion earned in the same quarter of the
previous year. However, the company announced an adjusted earnings
per share of 22 cents, compared to the previous year’s 16 cents per
share. Shares of the video game retailer fell 19.7% in pre-market
trading.
Direct Digital Holdings (NASDAQ:DRCT) – The
advertising platform provider reported a net loss of $1.2 million
in the last quarter. This contrasts with the net profit of $1.4
million in the same period of the previous year. Revenue in the
fourth quarter reached $41 million, compared to $30.7 million in
the previous year. Shares fell 41.87% in pre-market trading.
Apple (NASDAQ:AAPL) – Apple
announced its Worldwide Developers Conference (WWDC) from June 10
to 14, revealing significant changes to iOS and partnerships in
artificial intelligence (AI). The online event will highlight
software updates for iPhones, iPads, and other devices, with some
attendees present at Apple Park. In other related news,
Apple‘s iPhone shipments in China fell about 33%
in February from the previous year, reflecting a continued decline
in demand for the device in its primary foreign market.
Nvidia (NASDAQ:NVDA) –
Nvidia‘s rapid growth, though based on solid
profits and revenues, is generating caution due to the possibility
of over-anticipation of future earnings, resulting in overly valued
shares. Nvidia has become one of the world’s
largest companies, adding $2 trillion in value over the past 15
months.
Dell Technologies (NYSE:DELL) –
Dell eliminated 13,000 jobs during the last fiscal
year, a deeper cut than initially expected. With 120,000 employees
as of February 2, the company reduced its global workforce by
almost 10%.
Adobe (NASDAQ:ADBE) – Adobe is
innovating in generative AI with GenStudio for advertising and
marketing, as well as a partnership with Microsoft
(NASDAQ:MSFT) to optimize workflows. A focus on productivity gains
is anticipated in 2024.
nCino (NASDAQ:NCNO) – The cloud software
company reported fourth-quarter results that exceeded those of the
previous year. Revenue reached $123.7 million, representing a 13%
increase compared to the same period last year. Shares of nCino
rose 11.73% in pre-market trading.
Concentrix (NASDAQ:CNXC) – The customer
experience technology company reported adjusted earnings of $2.57
per share and revenue of $2.4 billion in the first fiscal quarter.
In the same period of the previous year, the company recorded
earnings per share of $2.59 and revenue of $1.64 billion. In
addition, Concentrix reiterated its annual projections for the
current fiscal year. Shares of Concentrix fell -4.23% in pre-market
trading.
Progress Software (NASDAQ:PRGS) –
Progress Software had fiscal first-quarter revenue
that exceeded expectations but projected adjusted earnings for the
second quarter between 93 and 97 cents per share, with revenues
forecasted between $166 million and $170 million. The earnings and
revenue forecasts fell below Wall Street estimates, and shares
dropped 2% in pre-market trading.
Arista Networks (NYSE:ANET) – Andreas
Bechtolsheim, founder and former chairman of Arista
Networks, agreed to pay a civil fine of approximately $1
million to settle insider trading charges, as disclosed by the U.S.
Securities and Exchange Commission. In addition, he accepted a
five-year ban from serving as an executive or director at public
companies.
Trump Media & Technology Group (NASDAQ:DJT)
– Shares of Donald Trump’s publicly traded Truth Social company
rose 16% on their first trading day on Tuesday, following the
completion of the merger deal with Digital World Acquisition Corp.
Shares reached a high of 59%, closing at $57.99 each. This values
the company at $7.9 billion, providing Trump with a significant
potential gain, although his 60% stake is subject to a six-month
lock-up. The company faces financial and legal challenges but has
attracted retail investors due to its potential as a “meme
stock.”
Comcast (NASDAQ:CMCSA), Amazon
(NASDAQ:AMZN) – In the 2024 season, Comcast‘s
Peacock streaming service will exclusively showcase NFL Week 1
game, while rival Amazon.com will broadcast the NFL Wild Card. This
groundbreaking deal marks the first NFL game in South America and
promises a unique experience for fans.
Walt Disney (NYSE:DIS) – Proxy advisor
Egan-Jones endorsed the nominations of Nelson Peltz and Jay Rasulo
to the Walt Disney board, estimating they would
bring fresh perspectives. The report criticized
Disney in several areas, including management
succession and relationship with the Florida government.
Zoetis (NYSE:ZTS) – Zoetis is
under EU antitrust investigation for allegedly blocking a rival dog
pain medication from entering the market. The European Commission
is examining whether there was unfair exclusion and may impose
substantial fines.
Clorox (NYSE:CLX) – A few years before a
cyberattack in 2023 halted production at Clorox,
one of the largest disinfectant producers in the U.S., an audit
highlighted cybersecurity flaws in the company’s production
systems. Clorox leaders delayed cybersecurity
improvements, affecting recovery after the attack, while the
company invested in a digital transformation initiative.
Hershey (NYSE:HSY), Mondelez
(NASDAQ:MDLZ) – Hershey,
Mondelez, and other confectionery manufacturers
are stepping up promotions and diversifying their Easter offerings
with non-chocolate treats, such as biscuit and cream bunnies. The
rise in cocoa prices is pressuring profits, while consumers resist
higher prices.
Krispy Kreme (NASDAQ:DNUT),
McDonald’s (NYSE:MCD) – Krispy
Kreme announced that its donuts will be available in
McDonald’s restaurants across the U.S. by the end
of 2026, expanding a pilot program. This caused its shares to jump
23% on Tuesday.
Canada Goose Holdings (NYSE:GOOS) –
Canada Goose will cut its global workforce by
about 17%, representing approximately 156 jobs, as part of efforts
to control costs amid pressure on luxury goods demand in the U.S.
The company will also realign executive functions to drive
growth.
Amazon (NASDAQ:AMZN) – Amazon
expanded same-day prescription drug delivery in New York and Los
Angeles. Using new facilities and AI, Amazon is
offering flu and diabetes medications within a few hours. Expansion
plans include more U.S. cities.
Walmart (NYSE:WMT), Capital
One (NYSE:COF) – A federal judge ruled on Tuesday that
Walmart may terminate its credit card partnership
with Capital One due to customer service failures.
The decision favored the clear terms of the 2018 agreement between
the parties.
Morgan Stanley (NYSE:MS) – Morgan
Stanley was ordered to pay over $3 million to a group of
financial advisors for improperly withholding their deferred
compensation upon leaving. The arbitration panel ruled in favor of
the 10 advisors, ordering payment of deferred compensation,
interest, and legal fees.
Citigroup (NYSE:C) – Citigroup
fired at least 10 equity research employees in Asia-Pacific, part
of a global overhaul. This move follows earlier cuts, aiming for
significant staff reduction to improve efficiency and save $1
billion annually.
Western Digital (NASDAQ:WDC) – Western
Digital rose 1.44% in pre-market trading after analysts at
Evercore ISI began covering the stock with an “Outperform” rating
and set a target price of $80.
Deutsche Bank (NYSE:DB) – Shares of
Deutsche Bank rose 3.8% in pre-market trading
following an upgrade from Morgan Stanley to
“Overweight”. The U.S. bank believes there is more growth
potential, highlighting improved revenue momentum and confidence in
cost reduction.
Nu Holdings (NYSE:NU) – Nu
Holdings will reduce the interest rate on its savings
account in Mexico by 25 basis points to 14.75%, following a rate
cut by the central bank. Intense competition in the fintech sector
keeps rates high.
Visa (NYSE:V), Mastercard
(NYSE:MA) – Visa and Mastercard
agreed to a historic $30 billion deal to limit card fees,
potentially reducing prices for consumers. Merchants have long
accused the companies of anti-competitive practices, while critics
question the durability of the resulting savings. Judicial approval
is awaited.
Robinhood Markets (NASDAQ:HOOD) – The online
trading platform Robinhood introduced a new credit
card on Tuesday, aiming to expand its presence in personal finance
and attract more subscribers to its premium service, complementing
its product diversification and partnership strategy.
Blackstone (NYSE:BX) –
Blackstone is considering selling Trilliant Food
& Nutrition, the maker of Victor Allen’s and Aspen Ridge coffee
brands, for about $600 million. Trilliant generates almost $60
million in annual profits. Bank of America
(NYSE:BAC) has been hired as a financial advisor.
BlackRock (NYSE:BLK) – In BlackRock’s annual
letter to shareholders, Larry Fink mentioned the financial security
of his retired parents, contrasting it with current concerns over
the sustainability of pension funds. He proposed solutions,
including a new investment product from
BlackRock.
Moody’s (NYSE:MCO), Boeing
(NYSE:BA) – Moody’s Investors Service is
considering downgrading Boeing‘s ratings,
including the “Prime-2” short-term rating and the “Baa2” senior
unsecured rating. This reflects concerns about the company’s
ability to deliver 737 aircraft in volumes necessary to improve its
cash flow. Regarding Boeing‘s search for a new
CEO, potential candidates include industry leaders and external
executives, with GE, Spirit, and former Boeing
leaders among the options.
Toyota Motor (NYSE:TM) –
Toyota plans to mass-produce an electric Hilux
pickup by the end of 2025, revealed by the president of its Thai
unit. This announcement follows Isuzu Motors‘
statement that it will manufacture its D-MAX battery-powered pickup
in Thailand by 2025.
Ford Motor (NYSE:F), Allego
(NYSE:ALLG), General Motors (NYSE:GM) –
Ford and Allego announced a
partnership to install ultra-fast chargers at Ford
dealerships in Europe, aiming to overcome the shortage of charging
infrastructure. The chargers, set to be installed starting from
2025, will be available to all electric vehicle owners.
Additionally, GM and Ford will
adjust shipments following the collapse of a bridge in Baltimore.
While they expect minimal impact, they are redirecting vehicle
shipments to other ports. The Port of Baltimore is vital to the
auto industry, handling thousands of vehicles annually.
Ferrari NV (NYSE:RACE) – Ferrari
NV has partnered with South Korea’s SK On to develop
batteries for its future electric supercars. CEO Benedetto Vigna is
committed to taking Ferrari into the electric
world, planning to launch its first fully electric car next
year.
Tesla (NASDAQ:TSLA) – Tesla
shares rose up to 1% in pre-market trading in response to the
announcement of free trials of its autonomous software. A driving
test is anticipated for all customers before purchase. Despite
previous declines, shares are rebounding this week.
VinFast (NASDAQ:VFS) – Electric vehicle maker
VinFast signed agreements with 15 dealers in
Thailand, seeking to expand its presence in Southeast Asia. This
initiative accompanies the Bangkok International Motor Show,
reflecting the growing demand for electric vehicles in the
region.
Li-Cycle (NYSE:LICY) –
Li-Cycle plans to cut 17% of its workforce,
including three senior executives, aiming to reduce costs and focus
on building a crucial facility in New York. The cuts reflect
technical challenges and excessive costs associated with the
company’s global expansion.
United Parcel Service (NYSE:UPS) –
UPS exceeded revenue forecasts for 2026 on
Tuesday, with a three-year plan focused on high-margin parcels and
cost cuts. UPS aims to boost growth through health
logistics and SME customers. With the “Network of the Future” plan,
it expects to save about $3 billion by 2026 through automation and
robotics. Capital expenditures from 2024 to 2026 are expected to
total between $17 billion and $18 billion.
International Paper (NYSE:IP), DS
Smith (USOTC:DSSMY) – DS Smith is in
talks with International Paper about a proposal to
acquire all shares of its U.S.-listed competitor, valuing the
British company at $7.2 billion.
Merck (NYSE:MRK) – The U.S. Food and Drug
Administration approved Merck‘s treatment for
pulmonary arterial hypertension. The drug, called Winrevair, is the
first in its class, targeting the activin protein. The approval is
based on a late-stage trial showing significant improvements in
patients. Merck paid $11.5 billion in 2021 for the
company that developed the drug.
Johnson & Johnson (NYSE:JNJ),
Shockwave Medical (NASDAQ:SWAV) – Johnson
& Johnson is in talks to acquire medical device
manufacturer Shockwave Medical, as revealed by the
Wall Street Journal on Tuesday. With a market capitalization of
about $11 billion, a deal could be finalized soon.
AstraZeneca (NASDAQ:AZN) –
AstraZeneca plans to establish an independent
production network to supply drugs to major markets, aiming to
reduce the pharmaceutical industry’s dependence on China. CEO
Pascal Soriot highlighted in an interview at the Bo’ao Forum the
importance of serving the U.S., Europe, and China
independently.
Rite Aid (NYSE:RAD) – The pharmacy chain
Rite Aid reached an agreement with creditors, the
U.S. Department of Justice, and McKesson Corp
(NYSE:MCK), paving the way to complete its bankruptcy process by
April. The deal was disclosed by a company attorney during a court
hearing.
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