JPMorgan Chase (NYSE:JPM) –
JPMorgan surprised by increasing its dividends by
9.5%, reflecting a record profit and the potential easing of
capital rules by regulators. The largest US bank has sent about $60
billion to shareholders over the past three years. Additionally,
JPMorgan established a new investment banking team
focused on sports, targeting a growing sector. With the valuation
of sports franchises exceeding $400 billion, the bank will offer
global consultancy and financing.
Chipotle Mexican Grill (NYSE:CMG) –
Chipotle announced a 50-for-1 stock split,
boosting its shares by about 4.9% in pre-market trading. Subject to
shareholder approval in June, holders will receive 49 additional
shares for each one held. The split is scheduled to take place on
June 26th.
Apple (NASDAQ:AAPL) – CEO Tim Cook of
Apple is in Shanghai to open a new retail store as
iPhone sales in China decline. Cook often visits the country for
launches, meetings, and faces challenges with local competitors.
Cook visited China last October after reports of weak iPhone 15
sales, and in 2018, Apple agreed to pay a
substantial sum to settle investor claims about misleading
information regarding iPhone sales in China.
Microsoft (NASDAQ:MSFT) –
Microsoft has appointed DeepMind co-founder
Mustafa Suleyman as the leader of a new consumer AI unit and
recruited talents from his startup Inflection AI, strengthening its
position against growing competition from Google
(NASDAQ:GOOGL).
Nvidia (NASDAQ:NVDA) –
Nvidia‘s shares rose on Tuesday following the
announcement that the new AI processor is expected to be released
later this year, and forecasts a data center market exceeding $250
billion. The company is focusing on total systems and is optimistic
about the demand for its new chip. According to CEO Jensen Huang,
the Blackwell B200 chip will be sold at a price ranging from
$30,000 to $40,000.
Intel (NASDAQ:INTC) – The US will grant
Intel up to $19.5 billion in funding, split
between $8.5 billion in grants and up to $11 billion in loans, to
expand its semiconductor factories as part of the Chips Act
program.
Samsung Electronics – Samsung
Electronics recorded the highest profit in six months
after reports that Nvidia is interested in buying
its HBM chips, boosting Samsung‘s pursuit of
global chip market leadership.
Astera Labs – Wall Street is about to access a
new opportunity at the convergence of chips and artificial
intelligence. Astera Labs set the price of its initial public
offering at $36 per share, surpassing its original target,
reflecting its vision of the growing importance of chip
connectivity in the AI era.
Alphabet (NASDAQ:GOOGL) –
Google‘s parent company received a fine of 250
million euros ($271 million) from France for failing to negotiate
fair agreements with media outlets and using press content to train
its AI. This is another penalty related to the unfair treatment of
media.
Meta Platforms (NASDAQ:META) – Meta
Platforms lowered its monthly subscription fee for
Facebook and Instagram from 9.99 euros to 5.99 euros in response to
privacy and antitrust regulators’ concerns in Europe. The new price
seeks to balance EU privacy laws and the DMA.
Sarcos Technology & Robotics (NASDAQ:STRC)
– Sarcos Technology & Robotics‘ shares surged
40% during Tuesday’s regular trading session, closing at $1.82. The
company regained compliance with Nasdaq’s requirements. The stock
has seen an increase of over 153% for the year.
Boeing (NYSE:BA) – Boeing is
considering selling part of its defense division, according to
Bloomberg. Investors are closely watching the potential sale. The
division generated $25 billion in sales in 2023, facing its second
consecutive annual loss. Boeing is also
considering cutting ties with Airbus (USOTC:EADSY)
through Spirit AeroSystems (NYSE:SPR),
contemplating transferring parts of the Airbus
business. This strategic move aims to solve quality issues while
both face challenges and explore complex business options. The head
of the Federal Aviation Administration of the United States
insisted that Boeing needs to prioritize safety
culture and address quality issues before increasing 737 MAX
production. The FAA is closely monitoring Boeing‘s
progress and has not started discussions on increasing production
until safety is ensured.
JetBlue Airways (NASDAQ:JBLU) – JetBlue
Airways informed its team on Tuesday about eliminating
several routes in a cost-cutting effort following the failed
attempt to acquire Spirit Airlines and issues with Pratt &
Whitney engines.
Tesla (NASDAQ:TSLA) – Tesla
confirmed it will raise prices for Model Y vehicles produced in
China by 5,000 yuan ($694.55) from April 1st, in addition to
increasing prices by approximately 2,000 euros ($2,177) in some
European countries starting March 22nd.
Stellantis (NYSE:STLA) –
Stellantis, the parent company of Chrysler, and
the state of California reached an agreement on emissions Tuesday,
committing to comply with zero-emission vehicle requirements by
2030, in an effort to significantly reduce pollution.
Ferrari (NYSE:RACE) – Ferrari
faces a lawsuit in the US, accused by drivers of not properly
fixing vehicles at risk of total or partial brake loss. The 2021
and 2022 recalls were deemed insufficient, allowing the sale of
cars with defects.
Shell (NYSE:SHEL) – Shell
appointed Greg Joiner to lead its Shell Energy
unit, overseeing renewable generation, gas, and energy marketing,
as part of a broader restructuring. The appointment takes effect on
April 1st, following Steve Hill’s departure.
Nasdaq (NASDAQ:NDAQ) – Borse Dubai announced on
Tuesday the sale of $1.6 billion in Nasdaq shares,
reducing its stake to 10.8%. Thoma Bravo, a private equity firm,
will become Nasdaq‘s main shareholder, holding
12.5% of the shares.
BlackRock (NYSE:BLK) –
BlackRock CEO Larry Fink was seen with Texas
Lieutenant Governor Dan Patrick in Houston, suggesting an easing of
tensions between the state and the company. However, the Texas
Board of Education decided to end BlackRock‘s
management of its assets, citing anti-fossil fuel boycott
legislation.
Raymond James Financial (NYSE:RJF) –
Raymond James Financial announced that CEO Paul
Reilly will retire before October 2025, to be succeeded by current
CFO Paul Shoukry. Shoukry, promoted to president, will continue as
CFO, while Reilly will remain as executive chairman. The company
also revealed other leadership changes, including the retirement of
COO Jeff Dowdle and new roles for Scott Curtis and Tash Elwyn,
effective October 1, 2024.
UBS Group AG (NYSE:UBS) – Swiss financial
regulator FINMA announced 40 assessments of UBS,
including two stress tests, following its acquisition of Credit
Suisse in 2023, aiming to mitigate ‘too big to fail’ risks,
emphasizing operational stability and post-merger integrity. The
Swiss National Bank urges a review of banking regulations to
prevent future crises.
Coinbase Global (NASDAQ:COIN) –
Coinbase CEO Brian Armstrong stated that the
company needs more investment to improve its trading
infrastructure, after users faced difficulties during Bitcoin’s
surge in February.
Amazon (NASDAQ:AMZN) – About 1,400 workers at
an Amazon warehouse in Coventry, England, went on
strike on Tuesday, planning to repeat the action on Wednesday, as
part of a dispute over wages and union recognition, said the GMB
union. In India, Amazon.com plans to launch over
70 new TV shows and movies on its streaming platforms in the coming
years, targeting new subscribers.
Macy’s (NYSE:M) – Macy’s
announced it will open its records to Arkhouse and Brigade Capital,
advancing the $6.6 billion offer to privatize the department store
operator.
Nordstrom (NYSE:JWN) – The founding family of
Nordstrom is seeking to take the US department
store operator private, following an unsuccessful previous attempt,
according to Reuters on Tuesday. The deliberations come amid
challenges faced by retailers with reduced consumer spending due to
inflation and high interest rates. Nordstrom
contacted Morgan Stanley (NYSE:MS) and Centerview Partners to
explore private equity firms’ interest in a possible deal.
Gildan Activewear (NYSE:GIL) – Gildan
Activewear‘s shares rose 10% on Tuesday after announcing
it received a “non-binding and confidential expression of interest”
to acquire the company. A special committee of the board is in
contact with potential buyers.
Amcor plc (NYSE:AMCR) – Shares of
Amcor, an Australian packaging company, fell 3.3%
in pre-market trading after announcing that CEO Ron Delia will
leave the company due to health issues.
Harrow (NASDAQ:HROW) –
Harrow‘s shares plummeted 13.15% in pre-market
trading. The ophthalmic pharmaceutical company reported a loss of
$9.1 million (or -$0.26 per share), compared to a profit of $1.1
million in the same period last year. Analysts had expected a loss
of $0.04 per share. The annual revenue was $130.2 million, at the
lower end of the revised estimate for 2023.
Moleculin Biotech (NASDAQ:MBRX) –
Moleculin Biotech announced a 1-for-15 reverse
stock split. The reverse split aims to meet Nasdaq listing
standards.
HealthEquity (NASDAQ:HQY) – In the last
quarter, HealthEquity, specializing in health
savings accounts, recorded a profit, with an adjusted gain of 63
cents per share, surpassing analysts’ forecasts, who expected 57
cents. Revenue also exceeded expectations, increasing by 12% to
$262.4 million. As a result, shares rose 2.6% in pre-market
trading.
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