Salesforce (NYSE:CRM) – Salesforce announced
the purchase of Own Company for $1.9 billion to strengthen its data
privacy and security solutions. The acquisition aims to meet the
growing demand for customer protection against data loss.
Salesforce expects the transaction to drive growth starting from
the second year after completion, slated for the fourth quarter of
2025. Shares dropped 0.7% in premarket trading, after closing down
0.6% on Thursday.
Qualcomm (NASDAQ:QCOM), Intel
(NASDAQ:INTC) – Qualcomm is exploring the possibility of acquiring
parts of Intel, especially the PC design business, to strengthen
its product portfolio. Intel, facing financial difficulties, is
considering selling assets. However, Qualcomm has yet to initiate
formal discussions, and negotiations may change. Qualcomm shares
fell 1.3% in premarket trading, after closing down 1% on Thursday.
Intel shares rose 0.5% in premarket trading.
Mobileye (NASDAQ:MBLY) – Intel is considering
selling part of its 88% stake in Mobileye, which is facing
financial challenges. The company is also evaluating options for
its networking unit, whose revenue has drastically fallen. These
actions are part of a strategic restructuring to address financial
issues and improve performance. Mobileye shares fell 3.7% in
premarket trading, after closing down 7.4% on Thursday.
Alphabet (NASDAQ:GOOGL) – YouTube terminated
the Tenet Media channel and four other channels operated by Lauren
Chen, a political and cultural content creator, following
allegations from the U.S. Department of Justice. RT employees,
formerly known as Russia Today, are accused of using shell
companies to pay $10 million to an American company to produce
content aimed at influencing the 2024 presidential election. Shares
dropped 0.7% in premarket trading, after closing up 0.5% on
Thursday.
Apple (NASDAQ:AAPL) – Apple will hold the
iPhone 16 launch event, titled “It’s Glowtime,” on September 9.
Investors expect updates on generative AI and potential price
increases that may influence shares. Historically, shares tend to
drop on the day of the event but rise later. This year, a
compelling presentation could drive performance beyond past trends.
Additionally, Apple approved a WeChat update before the launch,
enabling new features and deferring speculation about a ban. The
dispute between Apple and Tencent over app fees continues, with
Apple demanding that Tencent block external payments in mini-games
to ensure its commission. Tencent is still negotiating to reach an
agreement. Shares fell 0.5% in premarket trading, after closing up
0.7% on Thursday.
Nvidia (NASDAQ:NVDA) – Nvidia CEO Jensen Huang
sold 5.3 million shares, totaling $633.1 million, between June and
September, as part of a plan to sell up to 6 million shares by
March 2025. Huang is Nvidia’s largest individual shareholder, with
his personal fortune growing to $94.2 billion. Shares dropped 2.4%
in premarket trading, after closing up 0.9% on Thursday.
ASML (NASDAQ:ASML) – The Dutch government will
now require ASML to apply for licenses to export its older DUV
lithography systems to China, instead of the U.S. ASML, already
banned from shipping its most advanced machines to China, said it
does not expect a significant financial impact from the change.
Shares dropped 1.1% in premarket trading, after closing down 2% on
Thursday.
Adobe (NASDAQ:ADBE) – Adobe’s chief counsel
Dana Rao, who led the company’s AI strategy and its attempt to
acquire Figma, is stepping down. Rao was central to Adobe’s
approach to generative AI and the Content Authenticity Initiative.
Gloria Chen will temporarily lead the legal organization. Shares
dropped 0.7% in premarket trading, after closing down 1.3% on
Thursday.
Amazon (NASDAQ:AMZN) – Amazon sued the U.S.
labor board, claiming it interfered illegally in the union election
at a New York warehouse and that its structure violates the U.S.
Constitution. The lawsuit seeks to block the board’s decision that
could force Amazon to negotiate with the union. Amazon also
criticizes the board’s structure, which combines prosecutor, judge,
and jury functions. Additionally, Amazon aims to help Indian
exporters sell $5 billion in low-value items this year, nearly
double that of 2023. The initiative targets 150,000 small exporters
using Amazon’s platform to reach international markets, with a goal
of $13 billion in exports by 2024. Shares fell 1.7% in premarket
trading, after closing up 2.6% on Thursday.
Paramount Global (NASDAQ:PARA) – Paramount
Global chairwoman Shari Redstone will receive $180 million in
severance and other benefits, along with approximately $350 million
from selling her stake in National Amusements to Skydance Media.
David Ellison’s Skydance will acquire Paramount in a complex $4.5
billion deal, with Larry Ellison taking majority control.
Walt Disney (NYSE:DIS) – Walt Disney’s leaked
online data includes financial, strategic, and personal employee
and customer information. The exposed data includes passport
numbers, visa details, and contact information of Disney Cruise
Line passengers. The company is investigating the unauthorized
disclosure, which also includes Slack messages.
Dish Network (NASDAQ:DISH) – Dish Network, with
over $20 billion in debt, is negotiating with creditors to resolve
a lawsuit over asset transfers. Discussions include a potential
extension of a $2 billion bond. Creditors want to reverse transfers
made by Dish to protect assets from bondholders.
Newsmax – The conservative news channel Newsmax
confidentially filed for an IPO in the U.S., seeking to raise up to
$75 million by late 2024 or early 2025. The company is also
conducting a private placement to raise up to $225 million. Founded
in 1998 and headquartered in Florida, Newsmax expects $180.5
million in revenue in 2024.
Verizon (NYSE:VZ), Frontier
Communications (NASDAQ:FYBR) – Verizon, which will acquire
Frontier Communications for $9.59 billion, will focus on debt
reduction during the deal’s closing, expected within 18 months.
Verizon expects its debt ratio to rise post-transaction but plans
to refinance Frontier’s debt and maintain manageable leverage. The
acquisition aims to expand Verizon’s subscriber base and improve
competitiveness against AT&T and T-Mobile. Verizon will pay
$38.50 per share, a 37.3% premium. Shares rose 0.9% in premarket
trading, after closing down 0.4% on Thursday.
AT&T (NYSE:T) – AT&T submitted its
final offer to the Communications Workers of America union, but it
did not meet expectations. The union criticized the proposal,
particularly for increasing healthcare costs for employees. Over
17,000 AT&T workers are on strike, demanding better conditions
and compensation. AT&T stated the offer includes wage increases
and higher health contributions. Shares dropped 0.4% in premarket
trading, after closing up 0.4% on Thursday.
Snap Inc. (NYSE:SNAP) – The state of New Mexico
sued Snap Inc., claiming that Snapchat facilitates the spread of
child sexual exploitation material. Attorney General Raul Torrez
said the platform is used for sexual blackmail, and Snapchat, known
for temporary messages, fails to adequately protect minors. Snap is
reviewing the accusation. Shares dropped 0.2% in premarket trading,
after closing up 0.9% on Thursday.
US Steel (NYSE:X) – The U.S. government,
through the Committee on Foreign Investment in the United States
(CFIUS), expressed national security concerns over Nippon Steel’s
proposed acquisition of US Steel. The committee cited risks to
domestic steel production and vulnerability to Chinese competition.
Despite this, Nippon promised to maintain U.S. investments and
jobs, aiming to ease concerns. Cleveland-Cliffs CEO Lourenco
Goncalves expressed interest in acquiring US Steel’s assets if
Nippon’s bid fails. Goncalves confirmed he is working with JPMorgan
and Wells Fargo on a potential offer. Shares rose 2.6% in premarket
trading, after closing up 2% on Thursday.
Weyerhaeuser (NYSE:WY) – Weyerhaeuser shares
recently hit a near four-year low. Director Al Monaco purchased
shares of the company at $31.38 each, increasing his stake to
70,726 shares. Despite low earnings expectations, a BMO analyst
believes the balance sheet is solid and maintains a “Market
Perform” rating with a $38 price target.
Marathon Petroleum (NYSE:MPC) – Marathon
Petroleum refuses to negotiate with striking workers at its Detroit
refinery, where over 200 employees have walked off following wage
and safety negotiation impasses. The Teamsters union warns the
strike could expand to other Marathon refineries if talks do not
advance.
Honeywell (NASDAQ:HON) – Honeywell announced
that Mike Stepniak will be the new CFO, replacing Greg Lewis, who
will leave after the 2024 earnings report. Stepniak, currently CFO
of Honeywell Aerospace, has been praised by CEO Vimal Kapur for his
growth track record in various sectors. Lewis will take on a new
role as Senior VP and advisor to the CEO. Shares dropped 0.3% in
premarket trading, after closing down 1.3% on Thursday.
Ford Motor (NYSE:F) – In August, Ford saw a
13.4% increase in U.S. vehicle sales, totaling 182,985 units,
driven by high demand for SUVs and pickups. Electric vehicle sales
grew 28.9%, and hybrid sales nearly 50%. Overall, the U.S. new
vehicle market reached about 15.13 million units. Shares dropped
0.5% in premarket trading, after closing down 1.6% on Thursday.
Toyota Motor (NYSE:TM) – Japan announced it
would provide up to $2.4 billion in subsidies for electric vehicle
battery production, supporting 12 projects, including initiatives
from Toyota, Nissan, and Panasonic. The goal is to expand Japan’s
battery production capacity by 50% by 2026 and strengthen the
supply chain. According to Nikkei, Toyota Motor will reduce its
global electric vehicle production target in 2026 to about 1
million units, down from the initial 1.5 million target. Shares
dropped 1.5% in premarket trading, after closing down 1% on
Thursday.
Stellantis (NYSE:STLA) – Stellantis will invest
$385 million in its Córdoba, Argentina, plant from 2025 to 2030, as
part of a $6.22 billion plan for South America. The investment aims
to develop a new line of vehicles and engines. Stellantis also
plans to launch hybrid-flex vehicles in Brazil later this year.
Shares rose 0.3% in premarket trading, after closing down 1.6% on
Thursday.
General Motors (NYSE:GM) – General Motors
announced the addition of Alfred Kelly Jr., former Visa CEO, to its
board of directors. Kelly, who led Visa from 2016 to 2023, brings
financial and technology expertise. His addition increases GM’s
independent directors to 12 out of a total of 13 members. Shares
dropped 0.7% in premarket trading, after closing down 0.6% on
Thursday.
Tesla (NASDAQ:TSLA) – Elon Musk may face more
responsibilities if Donald Trump wins the election, with Trump
considering Musk to lead a government efficiency commission. While
this might concern Tesla investors due to possible distractions,
Musk has already stated he does not need payment or recognition for
the role. Shares dropped 0.5% in premarket trading, after closing
up 4.9% on Thursday.
AST SpaceMobile (NASDAQ:ASTS) – AST SpaceMobile
shares closed down 14% on Thursday after the company announced an
offering of up to $400 million in shares. This is the biggest drop
since April and follows a recent 12.5% increase due to the launch
of its first commercial satellites. Shares dropped 1.5% in
premarket trading.
Delta Air Lines (NYSE:DAL), American
Airlines Group (NASDAQ:AAL), United Airlines
Holdings (NASDAQ:UAL), Southwest Airlines
(NYSE:LUV) – The U.S. Department of Transportation is investigating
the rewards programs of these four U.S. airlines. The carriers must
report how changes to the programs affect consumers, including
point devaluation and hidden fees. The investigation seeks to
understand the rewards’ impact and potential unfair practices.
JetBlue Airways (NASDAQ:JBLU) – JetBlue
investor Vladimir Galkin, with a 9.98% stake, met with company
executives to discuss a potential board seat. Galkin, the
third-largest shareholder of JetBlue, has yet to decide whether he
wants to be a director but expressed interest in closely monitoring
his investment. The company is recovering after regulatory
blockages. Shares rose 2.8% in premarket trading, after closing up
7.2% on Thursday.
FedEx (NYSE:FDX) – FedEx invested in robotics
company Nimble to improve its fulfillment unit, focusing on
automating logistics processes. This move aims to reduce costs and
increase efficiency, especially during a period of low freight
demand. The investment will help expand FedEx’s e-commerce presence
and optimize its North American supply chain.
Costco Wholesale (NASDAQ:COST) – Costco
reported a 7.1% increase in August sales, continuing its positive
growth in the fourth fiscal quarter, with total sales reaching
$78.2 billion. Same-store sales rose 5% in August and 5.4% for the
quarter. Online sales also grew. Despite high food prices, Costco
has performed well, with shares up 34.3% in 2024. Recently, Costco
raised membership fees to offer better pricing to consumers. The
fourth-quarter earnings release is scheduled for September 26.
Hershey (NYSE:HSY) – Hershey has asked a U.S.
judge to dismiss a lawsuit alleging the company misled consumers
about Reese’s candy design. The company argues that images on
packaging are merely decorative suggestions and not guarantees of
the product. The lawsuit seeks $5 million in damages, with
plaintiffs claiming the candies did not match Halloween and
Christmas imagery.
WK Kellogg Co. (NYSE:KLG) – WK Kellogg
executives discussed strategies to focus solely on core cereals,
such as Frosted Flakes and Raisin Bran, following the separation
from Kellanova. Despite a less optimistic sales outlook and
challenges with the Special K brand, the company plans to improve
production and innovation to increase margins. Shares rose 10% on
Thursday.
Vestis (NYSE:VSTS) – French office supply
provider Elis SA made an offer to acquire Vestis, the former
uniform rental division of Aramark, valued at around $3.3 billion.
The negotiations are confidential, and Vestis has not yet confirmed
whether it will accept the offer. Shares rose 11.8% on
Thursday.
Nike (NYSE:NKE) – Investors are pressuring Nike
to improve working conditions in its factories, with Norway’s
sovereign wealth fund supporting a resolution for this. Nike faces
criticism over its supply chain and a negative ESG rating. The
resolution calls for binding agreements with workers to address
persistent abuses. Shares dropped 0.5% in premarket trading, after
closing down 0.2% on Thursday.
Marriott International (NASDAQ:MAR) – Marriott
International reported that the booking window in Greater China has
fallen below three days, the shortest ever recorded. CEO Anthony
Capuano noted that this reduction makes it harder to develop
effective pricing strategies and negatively impacts the company’s
revenue growth forecast.
Live Nation Entertainment (NYSE:LYV) –
Ticketmaster is being investigated in the UK for possible unfair
practices in selling tickets for Oasis concerts. Complaints
indicate that dynamic pricing raised costs to more than $461,
prompting a review of whether this violated consumer protection
laws. The investigation is in its early stages and aims to ensure
fair treatment of consumers.
Alibaba (NYSE:BABA),
Mastercard (NYSE:MA) – Alibaba, in partnership
with Mastercard, will launch a credit card in the U.S. for small
businesses. The Business Edge Credit Card offers 3% cashback or 60
days interest-free on purchases up to $40,000 on Alibaba.com and
carries an annual fee of $199. This initiative aims to build
confidence in direct purchases from China and expand Alibaba’s
international business. Alibaba shares fell 0.6% in premarket
trading, after closing down 0.1% on Thursday.
PayPal (NASDAQ:PYPL) – PayPal is expanding its
in-person payments presence in the U.S., integrating its debit card
with Apple Wallet and offering 5% cashback. This strategy aims to
compete with banks and tech giants, as part of its recovery under
new CEO Alex Chriss. Shares fell 1.3% in premarket trading, after
closing down 0.8% on Thursday.
Bank of America (NYSE:BAC) – A whistleblower
accused Bank of America of sharing non-public information with
investors before selling $200 million in shares in India. The bank
denied the allegations, stating there is no evidence and that it
thoroughly investigates any improper behavior. Shares fell 0.9% in
premarket trading, after closing down 0.9% on Thursday.
Deutsche Bank (NYSE:DB) – A former Deutsche
Bank employee lost a lawsuit in London seeking a $3.4 million
bonus, claiming she helped sell significant bank assets. Deutsche
Bank argued there was no formal bonus guarantee and cited financial
difficulties, leading the court to dismiss the claim. Shares fell
0.4% in premarket trading, after closing up 4% on Thursday.
JPMorgan Chase (NYSE:JPM) – JPMorgan analysts
stated that interest rate cuts might take time to impact
investments in cash-like instruments. Even with the recent increase
in long-term bond yields, liquidity could remain attractive for
months. Historically, significant changes in money market assets
occur after a delay of about three months. Additionally, JPMorgan
named Andrew Castaldo and Andrew Martin as co-heads of mid-cap
M&A. Castaldo, with 25 years of experience, led energy M&A.
Martin, joining JPMorgan in late 2024, came from Bank of
America.
Goldman Sachs (NYSE:GS) – Presidential
candidate Kamala Harris’s proposal to raise the corporate tax rate
from 21% to 28% could reduce S&P 500 company profits by around
5%, according to Goldman Sachs analysts. They warned the impact
could be larger with additional taxes. Meanwhile, Donald Trump
proposed lowering the corporate tax rate to 15% for companies
manufacturing in the U.S. and promised to cut regulations and audit
the government, an idea backed by Elon Musk. Trump also plans to
eliminate trade tariffs and create a sovereign wealth fund to
invest in U.S. manufacturing and research.
Berkshire Hathaway (NYSE:BRK.B) – Warren
Buffett continued selling Bank of America shares, totaling $6.97
billion since July. Recently, Berkshire Hathaway sold $760 million
in shares since Tuesday, according to a regulatory filing on
Thursday. Despite the sales, Berkshire still holds 11% of the bank,
valued at $34.7 billion. If Buffett continues selling, his stake
could drop below 10%, requiring less disclosure. Berkshire shares
fell 0.5% in premarket trading, after closing down 2.9% on
Thursday.
Blackstone (NYSE:BX) – Blackstone and the
Canadian Pension Plan Investment Board are securing a loan of about
$3.7 billion to finance the acquisition of AirTrunk, valued at
$16.1 billion. The loan, the second-largest in the Asia-Pacific
region this year, will be split into a $1.35 billion term loan and
a $2.36 billion credit line. More than 10 banks are involved in the
financing. Shares fell 0.2% in premarket trading, after closing up
0.3% on Thursday.
Nomura Holdings (NYSE:NMR) – Kevin Connors, who
played a key role in expanding Nomura Holdings in emerging markets
since 2021, has left the company. He helped hire over 20 traders in
various cities and contributed to the firm’s global strategy.
Connors’s departure coincides with Nomura’s plans to nearly double
its profits by 2031.
Earnings
Broadcom (NASDAQ:AVGO) – The semiconductor and
chip technology company exceeded Wall Street’s expectations for the
third quarter, reporting an adjusted earnings per share (EPS) of
$1.24 and revenue of $13.1 billion. However, its fourth-quarter
revenue projection of $14 billion fell below the consensus estimate
of $14.04 billion by LSEG. Broadcom reported a net loss of $1.88
billion, attributed to a one-time $4.5 billion tax provision
related to intellectual property rights. The company expects to
reach $12 billion in AI chip and solution sales in fiscal 2024.
Shares dropped 9.5% in premarket trading, after closing down 0.8%
on Thursday.
UiPath (NYSE:PATH) – The robotic automation
software company exceeded second-quarter expectations, reporting
adjusted earnings of 4 cents per share and a 10% revenue increase
to $316 million, above the expected $304 million. The company
forecasts third-quarter revenue between $345 million and $350
million and annual revenue between $1.42 billion and $1.425
billion. UiPath also approved a share buyback program of up to $500
million. Shares rose 7.9% in premarket trading, after closing up
0.2% on Thursday.
Samsara (NYSE:IOT) – The IoT solutions company
for fleets exceeded second-quarter expectations with adjusted
earnings of $0.05 per share, above the $0.01 forecast. Revenue came
in at $300.2 million, beating the $289.53 million expected. Annual
recurring revenue reached $1.264 billion, a 36% year-over-year
increase. For the third quarter, the company projects earnings
between $0.03 and $0.04 per share and revenue of $309 million to
$311 million. Shares rose 3.6% in premarket trading, after closing
up 0.2% on Thursday.
DocuSign (NASDAQ:DOCU) – The electronic
signature and document management company beat second-quarter
expectations with adjusted earnings of $0.97 per share, surpassing
the expected $0.81. Revenue reached $736 million, a 7% growth,
exceeding the forecasted $727 million. The company projects
third-quarter revenue between $743 million and $747 million.
DocuSign also launched a new platform for agreement management,
leveraging AI. Shares fell 1.6% in premarket trading, after closing
down 0.9% on Thursday.
Planet Labs (NYSE:PL) – The satellite imaging
and data company posted record revenue of $61.1 million in the
second quarter, a 14% year-over-year increase, with GAAP gross
margins of 53%. Adjusted EBITDA loss improved to $4.4 million,
while the net loss was $38.7 million, including $10.5 million in
non-recurring expenses. The company forecasts third-quarter revenue
between $61 million and $64 million. Shares fell 12.1% in premarket
trading.
Braze (NASDAQ:BRZE) – The customer engagement
and marketing company surpassed second-quarter expectations,
reporting adjusted earnings of $0.09 per share, better than the
forecasted loss of $0.03. Revenue grew by 26.4% to $145.5 million.
The company expects earnings for the next quarter to range between
break-even and a loss of $0.01 per share, better than estimates,
with revenue forecasts between $147.5 million and $148.5 million,
in line with consensus.
Quanex Building Products (NYSE:NX) – The
building products and windows company reported a 6.4% drop in
third-quarter net sales, totaling $280.3 million. Diluted earnings
per share fell from $0.96 to $0.77, with adjusted EBITDA margins
dropping from 16.2% to 15.0%. The company updated its annual
projection, estimating net sales between $1.275 billion and $1.285
billion, following the completion of its acquisition of Tyman.
Smartsheet (NYSE:SMAR) – The collaboration and
work management software company exceeded second-quarter
expectations with adjusted earnings of $0.44 per share and revenue
of $276.4 million, both surpassing forecasts of $0.29 and $274.29
million. Annual recurring revenue increased by 17%, reaching $1.093
billion. Smartsheet projects earnings of $0.29 to $0.31 per share
for the next quarter. Along with the strong quarterly results,
Smartsheet initiated discussions in July for a possible acquisition
by private equity firms. Negotiations have progressed, with Vista
Equity and Blackstone involved, and a deal, if successful, could be
finalized in the coming weeks, according to Reuters.
Tillys (NYSE:TLYS) – The casual apparel and
accessories retailer reported a second-quarter loss of $69,000, or
less than 1 cent per share, surpassing expectations of a 6-cent
loss. Revenue totaled $162.9 million, slightly below the forecasted
$163.8 million. The company projects third-quarter revenue between
$140 million and $146 million.
Zumiez (NASDAQ:ZUMZ) – The skate and streetwear
apparel retailer reported a second-quarter loss of $847,000, or 4
cents per share, better than the expected 33-cent loss. Revenue
reached $210.2 million, surpassing the forecasted $202 million. For
the next quarter, the company projects revenue between $221 million
and $225 million.
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