Alphabet (NASDAQ:GOOGL) – Alphabet is close to
buying the cybersecurity startup Wiz for approximately $23 billion,
marking its largest acquisition to date. Wiz, which offers
AI-driven cloud security solutions, could close the deal soon. The
stock rose 0.04% in pre-market trading.
Trump Media (NASDAQ:DJT) – The shares of Trump
Media & Technology Group Corp. surged 63% in pre-market trading
to about $50.17, driven by a failed assassination attempt on Donald
Trump. The company, which controls Truth Social, saw an increase in
Trump’s chances of returning to the White House after the
incident.
Meta Platforms (NASDAQ:META) – Meta, the parent
company of Facebook, removed special restrictions from the accounts
of former U.S. President Donald Trump to ensure equal access to
political expression before the 2024 elections. The accounts were
suspended following the Capitol incident in January 2021. The stock
fell 0.46% in pre-market trading.
Nvidia (NASDAQ:NVDA) – Portfolio managers saw
significant profits from Nvidia shares, which have surged about
785% since the beginning of 2023 and around 160% this year alone
due to the demand for AI chips. However, excessive concentration in
a single stock could be risky if there is a reversal. Nvidia
accounted for a third of the S&P 500’s gain this year. The
stock rose 0.58% in pre-market trading.
Apple (NASDAQ:AAPL) – Apple’s annual sales in
India reached a record nearly $8 billion, marking a 33% increase
from the previous year. Apple’s iPhones led the sales, reflecting
the growing purchasing power in India and Apple’s strategy to
diversify beyond China due to trade tensions. The stock rose 2.13%
in pre-market trading.
Taiwan Semiconductor Manufacturing Co
(NYSE:TSM) – TSMC is expected to report a 30% increase in
second-quarter profit, reaching $7.25 billion, due to the growing
demand for advanced AI chips. TSMC, which includes clients like
Apple and Nvidia, saw its shares hit record highs, with quarterly
revenue surpassing expectations and significant expansion plans,
including investments in new factories in Arizona. The stock rose
0.99% in pre-market trading.
Paramount Global (NASDAQ:PARA) – Mario
Gabelli’s investment firm is questioning the valuation of National
Amusements’ assets following the historic merger deal with Skydance
Media and Paramount Global. Gabelli seeks transparency about the
deal involving the acquisition of National Amusements, signaling a
possible legal challenge to the transaction.
AT&T (NYSE:T), Snowflake
(NYSE:SNOW) – AT&T disclosed that about 109 million accounts
had their data illegally downloaded in April, including call and
text message records from 2022, in an incident that is part of a
series of attacks affecting 165 Snowflake Inc. customers. Snowflake
attributed the responsibility for the lack of security to its
clients despite facing reputational damage. The FBI is
investigating the incident, which has potential implications for
U.S. national security. Experts warn that the stolen metadata
represents a “goldmine” for espionage and extortion activities,
exposing significant vulnerabilities in the telecommunications
sector and possible legal and regulatory consequences. According to
Bloomberg, a hacker claimed to have received approximately $400,000
in mid-May to delete confidential call and message data from
AT&T that had been stolen. Bitcoin transaction analyses suggest
the payment could have been extortion, although it is not confirmed
whether AT&T made the payment directly. The stock fell 0.32% in
pre-market trading.
Nokia (NYSE:NOK) – Nokia and Telecom Egypt have
partnered to implement 5G in Alexandria, Aswan, Cairo, Giza, and
Luxor by the end of this year. The new technology promises to
enhance speeds, performance, and support for new services,
following Telecom Egypt securing the country’s first 5G license
this year. The stock fell 0.25% in pre-market trading.
Logitech International (NASDAQ:LOGI) – Daniel
Borel, founder of Logitech International SA, obtained a court
ruling that could delay the company’s annual shareholder meeting
due to a dispute over the appointment of the chairman. The company
is barred from sending invitations until the court resolves the
conflict between Borel and the current management.
Yandex NV (NASDAQ:YNDX) – The founder of Yandex
NV, Arkady Volozh, returned as CEO after selling his main search
engine in Russia for 475 billion rubles ($5.4 billion) in cash and
shares to a Russian consortium. The company, renamed Nebius Group,
will focus on autonomous car technology, cloud storage, and
educational projects, driven by the proceeds from the sale.
Sea Ltd. (NYSE:SE) – Sea Ltd. appointed Natalia
Goh, former Chief Operating Officer of Trust Bank, as the new head
of its digital bank MariBank in Singapore. Goh replaces Yu Dong
Zheng, who will now be a consultant for the company. This change
comes amid growing competition in the Southeast Asian digital
banking sector. The stock rose 0.64% in pre-market trading.
Super Micro Computer (NASDAQ:SMCI),
Walgreens Boots Alliance (NASDAQ:WBA) – Super
Micro Computer will replace Walgreens Boots Alliance in the Nasdaq
100 index due to the significant increase in Super Micro’s market
value and Walgreens’ decline. The change will take effect before
trading on Monday, July 22, reflecting recent fluctuations in the
companies’ stock values. SMCI shares rose 1.98% in pre-market
trading, while Walgreens shares rose 0.52%.
Amazon (NASDAQ:AMZN) – Amazon’s shopping
assistant Rufus is now available to all U.S. customers after a
testing period with a select group. Functioning via chat in apps,
Rufus can answer product questions, recommend places, and even
create stories using generative AI for various interactions. In
other news, a federal judge in New York ordered Amazon to comply
with a subpoena from a civil rights agency investigating whether
the company discriminated against pregnant employees, rejecting
Amazon’s claim that the subpoena was too broad and requested
irrelevant information. The stock rose 0.34% in pre-market
trading.
Walmart (NYSE:WMT) – China’s Vice Minister of
Commerce, Wang Shouwen, met with Walmart CEO Kathryn McLay to
discuss U.S.-China trade relations, Walmart’s growth in China, and
other issues, as announced by China’s Ministry of Commerce.
Unilever (NYSE:UL) – Unilever plans to cut
one-third of office jobs in Europe by 2025 to revitalize growth
under CEO Hein Schumacher’s leadership. This includes up to 3,200
layoffs as part of a productivity program following
underperformance and pressure from shareholders like Nelson
Peltz.
Chipotle Mexican Grill (NYSE:CMG) – A social
media controversy over portion sizes at Chipotle led to a drastic
drop in its stock, losing about $7 billion in market value in a
week. For optimistic investors, this drop represents a buying
opportunity amid perceptions of “shrinkflation” and online
criticism. The stock rose 0.50% in pre-market trading.
Lululemon Athletica (NASDAQ:LULU) – Lululemon
is being sued for misleading consumers with its Be Planet campaign,
promoting itself as sustainable while its greenhouse gas emissions
significantly increase. The class action lawsuit alleges that the
company causes direct environmental harm contrary to its promises,
facing criticism amid increased climate scrutiny in the fashion
industry. The stock rose 0.32% in pre-market trading.
PayPal (NASDAQ:PYPL) – Poland’s antitrust
authority fined PayPal Europe $27.3 million (106.6 million zlotys)
for vague contractual clauses that do not clearly specify
prohibited actions for users or potential penalties, allowing
PayPal great freedom to impose sanctions such as account blocks.
The decision can still be contested in court. The stock rose 0.70%
in pre-market trading.
Goldman Sachs (NYSE:GS) – Goldman Sachs is
planning to raise $2 billion for its first private equity fund
focused on the Asia-Pacific region, with a special focus on Japan,
and including major markets like India, South Korea, and Australia.
The fund aims to capitalize on the rapid economic growth in these
regions despite geopolitical and economic challenges, particularly
in China. Meanwhile, the bank has strengthened its leadership in
India, appointing Sudarshan Ramakrishnan and Devarajan Nambakam as
co-heads of investment banking, aligning with the increase in local
business opportunities. Additional team reinforcements include
Sunil Khaitan as head of financing and Kamna Sahni as executive
director. Furthermore, Goldman Sachs contested the results of the
Federal Reserve’s “stress tests,” which identified the need to
increase the bank’s capital reserves due to significantly high
losses in credit card loan balances. The test revealed substantial
losses of 25.4% in credit card loan balances, well above the 17.6%
average among tested banks. This resulted in one of the largest
reserve increases, with a 94-basis point addition to its stress
capital buffer (SCB). The stock rose 0.21% in pre-market
trading.
Citigroup (NYSE:C) – Citigroup has asked a U.S.
court to dismiss a lawsuit accusing it of racial discrimination.
The lawsuit claims the bank is violating civil rights laws by
exempting minority-owned bank customers from ATM fees while
charging customers from other banks. In defense, Citigroup argues
its ATMs do not identify users’ race and there is no unequal
treatment. The stock rose 0.74% in pre-market trading.
BlackRock (NYSE:BLK) – Thomas Matthew Crooks,
the 20-year-old shooter who injured Donald Trump at a rally,
briefly appeared in a BlackRock ad. The company, condemning the
attack, stated that Crooks was one of several students in the
background of the ad, which will be removed and made available to
authorities.
Tesla (NASDAQ:TSLA) – Tesla’s market share fell
below 50% for the first time, indicating growing diversification in
the electric vehicle (EV) market. This reflects a more competitive
industry, with more manufacturers participating and expanding
consumer options. While EV sales growth slowed in early 2024, the
11% increase in the second quarter shows an expanding market,
positive for all manufacturers, including Tesla. Additionally, Elon
Musk made significant donations to a political group supporting
Donald Trump, Joe Biden’s rival, according to Bloomberg. Musk
previously denied donating to presidential candidates. His actions
reflect growing support for the Republican Party, impacting his
image and Tesla’s sales, his primary source of wealth. The stock
rose 4.61% in pre-market trading.
VinFast (NASDAQ:VFS) – The Vietnamese electric
vehicle manufacturer VinFast delayed the launch of its planned
factory in North Carolina, USA, to 2028 and reduced its vehicle
delivery forecast for this year by 20,000 units, citing
uncertainties in the global EV market. The company, founded by Pham
Nhat Vuong, also faces economic challenges despite a sales
increase.
Boeing (NYSE:BA) – Boeing began certification
flight tests of its 777-9 with U.S. regulators on board after
receiving the necessary Type Inspection Authorization (TIA). This
development represents a milestone for the company, which has faced
challenges with legal and production issues recently. The stock
rose 0.36% in pre-market trading.
BP plc (NYSE:BP) – BP released its annual
energy outlook, predicting that oil demand will stabilize by 2025
and then depend on countries’ carbon emission reduction measures.
In a “net zero” scenario, demand could drop to 25 to 30 million
barrels daily by 2050 from the current 102 million. In contrast,
OPEC forecasts continuous oil demand growth until at least 2045.
The stock fell 0.45% in pre-market trading.
ConocoPhillips (NYSE:COF), Marathon
Oil (NYSE:MRO) – ConocoPhillips received a second request
from the U.S. FTC regarding its proposal to acquire Marathon Oil
following a $22.5 billion stock offer. Both companies are
cooperating to review the merger, expecting to complete it by the
fourth quarter of 2024 to leverage economies of scale. Marathon Oil
shares rose 0.98% in pre-market trading.
Bunge Global (NYSE:BG) – Bunge and Viterra are
proposing to sell assets in the EU to gain antitrust approval for
their $34 billion merger, aiming to better compete with giants like
ADM and Cargill. The European Commission is reviewing the
concessions presented after initial concerns about the impact on
the European market.
BHP Group (NYSE:BHP), Lundin
Mining (TSX:LUN), Filo Corp. (TSX:FIL) –
Lundin Mining Corp and BHP Group are considering a joint offer for
Filo Corp, focused on the Filo del Sol project on the
Chile-Argentina border. Negotiations are in early stages and aim to
combine mining infrastructures, potentially costing between $5
billion and $8 billion. BHP shares fell 0.66% in pre-market
trading.
Rio Tinto (NYSE:RIO) – Rio Tinto Australia
has agreed to develop an 80 MW solar farm for its operations in
Pilbara, aiming to replace up to 11% of currently used gas. The
project could reduce emissions by 120 kilotons of CO2 per year and
is scheduled to start operations in 2027. Stocks fell 0.63% in
pre-market trading.
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