BP Plc (NYSE:BP) – BP expects a net debt
increase in Q3 due to lower refining margins and changes in asset
sale timing. The company faces reduced earnings of up to $600
million, signaling a weaker outlook for the oil industry amid
concerns about China’s demand. Shares fell 1.0% pre-market.
Tesla (NASDAQ:TSLA) – Elon Musk revealed a
robotaxi with gull-wing doors, no steering wheel or pedals, and an
autonomous robovan for up to 20 passengers. He stated production of
the “Cybercab” would begin in 2026 at a cost of under $30,000. Musk
bets on AI and cameras, predicting operating costs of 20 cents per
mile over time, with inductive charging eliminating plugs. Tesla
likely failed to impress investors, with shares falling 5.6%
pre-market. Additionally, Tesla announced it would offer permanent
jobs to 500 temporary workers at its German gigafactory starting
November 1. The factory, employing around 12,000 people, had faced
previous staff cuts.
Stellantis (NYSE:STLA) – Stellantis confirmed
CEO Carlos Tavares will retire in 2026 as the company faces
declining profits and U.S. sales. The automaker, having appointed
new executives to tackle these challenges, views reorganization as
essential for improving production and competing with Chinese EV
manufacturers, focusing on boosting EV sales by 2030. Shares fell
3.3% pre-market.
Berkshire Hathaway (NYSE:BRK.A), Bank
of America (NYSE:BAC) – Berkshire Hathaway sold 9.5
million shares of Bank of America this week, reducing its stake to
below 10%. The sale generated $382.4 million. Investors now await
upcoming quarterly reports to see if more shares were sold by the
investment giant. Bank of America shares fell 0.2% pre-market.
General Motors (NYSE:GM) – General Motors
announced that its GM Energy unit will offer solar energy storage
options for EV owners, launching the GM Energy PowerBank with
capacities of 10.6 and 17.7 kWh. The product can supply power
during outages and help reduce costs during peak hours. Shares fell
0.7% pre-market.
Toronto-Dominion Bank (NYSE:TD) – TD Bank
admitted to violating the U.S. Bank Secrecy Act, agreeing to a fine
of over $3 billion. Investigators found the bank facilitated
illicit transactions linked to drug trafficking and failed to
monitor suspicious transactions. An asset cap was imposed,
impacting its U.S. expansion, and the CEO was replaced. TD Bank
stated it would focus on restructuring its balance sheet in 2025,
planning to sell up to $50 billion in securities and reduce U.S.
assets by 10%, impacting short-term revenue. Shares rose 0.1%
pre-market.
Bain Capital (NYSE:BCSF) – Bain Capital was
forced to nearly halve the valuation of Japanese Kioxia for its
IPO, leading to the cancellation of the planned October listing.
Investors wanted a market value of 800 billion yen, while Bain
sought 1.5 trillion yen, reflecting concerns about the memory chip
market.
Citigroup (NYSE:C) – Citigroup formed a new
executive team for its corporate and investment bank, seeking to
expand its market share. The move follows the hiring of Viswas
Raghavan and includes John Chirico and Jason Rekate as
co-heads.
Mastercard (NYSE:MA) – Mastercard and Citigroup
are collaborating to offer 24/7 international payments with debit
cards, allowing consumers and businesses to conduct borderless
transactions. The service, called Mastercard Move, will facilitate
payments like insurance and reimbursements, available in 65
countries.
Shell (NYSE:SHEL) – Shell lost its bid to
access non-public documents related to Venture Global LNG’s
Calcasieu Pass facility amid a dispute over undelivered gas
cargoes. The FERC allowed access to documents from January 1, 2022,
but denied Shell’s request for earlier files. Shares fell 0.4%
pre-market.
Duke Energy (NYSE:DUK) – Duke Energy faced
major challenges restoring power with two severe storms affecting
the U.S. Southeast. The company was nearly finished recovering from
2 million outages caused by Hurricane Helene when Hurricane Milton
hit Florida, prompting new efforts. Infrastructure damage may
result in higher rates for consumers.
First Solar (NASDAQ:FSLR) – First Solar and the
solar sector shares dropped on Thursday amid concerns over project
delays. Jefferies analysts warned that these delays, caused by long
interconnection queues and supply chain issues, could impact the
company’s finances, leading to a target price cut. First Solar
shares rose 0.6% pre-market after closing down 9.3% on
Thursday.
Boeing (NYSE:BA) – Boeing filed an unfair labor
practice charge against the union representing its striking workers
on the U.S. West Coast, claiming the union did not bargain in good
faith. The 33,000-member strike is in its fifth week, causing
frustration and financial pressure. Shares fell 0.1%
pre-market.
Spirit AeroSystems (NYSE:SPR) – Airbus is
facing challenges with essential part supplies from Spirit
AeroSystems, which may delay deliveries, including the A350 next
year. The company is increasing its presence at suppliers to
mitigate the impact. Fuselage and wing production issues with the
A220 are further straining the supply chain.
Aehr Test Systems (NASDAQ:AEHR) – Aehr Test
Systems reported quarterly profits of $660,000 (2 cents per share),
down from $4.7 million (16 cents) a year earlier. Revenue fell 36%
to $13.1 million. Adjusted earnings were 7 cents per share. The
company maintains an annual revenue forecast of at least $70
million. Shares rose 12.5% pre-market.
Delta Air Lines (NYSE:DAL),
CrowdStrike (NASDAQ:CRWD) – Delta Air Lines warned
that Q4 revenue would be impacted by the U.S. presidential
election, as consumers cut spending and prefer to stay home.
However, the company expects it to be one of its most profitable
quarters, driven by strong holiday travel bookings and higher
pricing power. A software update disruption at CrowdStrike caused a
45-cent per share loss in its Q3 earnings. Delta shares fell 0.2%
pre-market.
United Airlines (NASDAQ:UAL) – United Airlines
stated that the Boeing workers’ strike would not affect its summer
flight schedule, including new routes. Despite the strike, the
airline plans to expand transatlantic operations and introduce
flights to new destinations, maintaining confidence in resolving
the conflict. Shares fell 0.1% pre-market.
Apple (NASDAQ:AAPL) – Malala Yousafzai, Nobel
Peace Prize winner, is expanding her Hollywood career with the
documentary “The Last of the Sea Women,” available on Apple TV+.
The visually stunning film portrays the haenyeo, Korean female
divers who collect seafood without oxygen tanks. Critics say the
film lacks depth in personal stories and the challenges the divers
face. Shares fell 0.1% pre-market.
Comcast (NASDAQ:CMCSA) – Comcast CEO Brian
Roberts stated that the company is prepared for more cord-cutting
among TV subscribers but believes it will benefit from offering
broadband internet and NBA games online.
Sony Music Group (NYSE:SONY) – Rob Stringer,
chairman of Sony Music Group, confirmed the purchase of Pink
Floyd’s rights, calling the band’s catalog invaluable. He
highlighted the importance of music in the digital age and
expressed concerns about streaming service algorithms limiting new
music discovery. Shares rose 0.2% pre-market.
AT&T (NYSE:T) – AT&T, which lost appeal
among dividend investors after a 2022 cut, saw its shares rise 13%
over three months, driven by the completion of its exit from
entertainment. While it still faces challenges, the company offers
a 5.2% yield, attractive in a declining interest rate environment.
Shares rose 0.2% pre-market.
Advanced Micro Devices (NASDAQ:AMD) – AMD
shares closed down 4% on Thursday, its biggest decline in a month,
after launching new AI chips but providing no details on customers
or financial performance. CEO Lisa Su highlighted that the MI325X
chips would outperform Nvidia’s, with a growing market outlook.
Shares rose 0.4% pre-market.
Alphabet (NASDAQ:GOOGL) – Matt Brittin, who
oversaw Google’s operations in Europe, the Middle East, and Asia
for a decade, is stepping down. Brittin, who joined the company in
2007, will remain in the role until a successor is named. Shares
rose 0.1% pre-market.
Trump Media & Technology Group (NASDAQ:DJT)
– Trump Media & Technology Group shares gained 17.3% on
Thursday, marking the highest close in six weeks, with a 46% gain
for the week. Trading volume was three times the average. Trump’s
election victory odds have also increased recently, according to
PredictIt. Shares rose 3.2% pre-market.
Pfizer (NYSE:PFE) – The conflict between Pfizer
and Starboard Value escalated when Starboard called for an
investigation into the pressure former Pfizer executives faced,
leading them to withdraw support for Starboard’s campaign.
Starboard, with a $1 billion stake in Pfizer, alleges the former
executives were threatened with litigation.
Sanofi (NASDAQ:SNY) – Sanofi is in talks with
private equity firm Clayton Dubilier & Rice to sell 50% of its
consumer healthcare division, Opella. The deal, valued at $16.41
billion (€15 billion), has not yet disclosed financial details,
with updates expected soon. The French pharmaceutical company aims
to focus on developing new drugs. The deal could be announced soon,
according to Bloomberg. Shares rose 0.5% pre-market.
Johnson & Johnson (NYSE:JNJ) – A Johnson
& Johnson subsidiary may proceed with a new attempt to settle
thousands of lawsuits over talc products allegedly causing cancer,
following a Texas bankruptcy judge’s decision. This is the
company’s third attempt, proposing a $9 billion settlement to
compensate victims.
Teva Pharmaceutical (NYSE:TEVA) – Teva
Pharmaceutical agreed to pay $450 million to resolve allegations of
using charities to pay kickbacks and boost sales of its drug
Copaxone, as well as conspiring to fix generic drug prices. The
company, which admitted no wrongdoing, will pay the amount over six
years, the U.S. Department of Justice announced.
Mattel (NASDAQ:MAT) – Mattel is recalling all
models of its Fisher-Price Snuga infant swings following five
deaths related to suffocation risks between 2012 and 2022. The
swing, which should not be used for sleeping, will be recalled, and
Fisher-Price will offer a partial refund of $25 to consumers.
Nike (NYSE:NKE) – Nike appointed Tom Peddie as
vice president and general manager of North America following his
return to the company. Peddie, who retired in 2020, will replace
Scott Uzzell and report to Craig Williams. His experience is seen
as crucial for recovering retail partnerships and driving
sales.
McDonald’s (NYSE:MCD) – McDonald’s CEO Chris
Kempczinski stated that low-income customers will continue to face
financial difficulties next year. The company plans to keep
offering strong value propositions, including affordable meal
options like chicken, which is cheaper than beef. Shares fell 0.4%
pre-market.
PepsiCo (NASDAQ:PEP) – PepsiCo may have to
lower prices after pandemic-era increases, as TD Cowen analysts
downgraded its stock from “Buy” to “Hold.” They noted that
PepsiCo’s product prices have risen 41% since 2020, while grocery
store prices increased 25%, raising concerns about demand.
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