Apple (NASDAQ:AAPL) – The new artificial
intelligence features of Apple, set to be released with iOS 18 and
iPadOS 18, will be available only a few weeks after the updates in
September. Apple plans to begin testing Apple Intelligence for
developers with the betas of iOS 18.1 and iPadOS 18.1 this week.
General availability will be delayed due to European Union
regulations. Additionally, Apple has adopted the Biden
administration’s new voluntary AI guidelines, following companies
like OpenAI and Microsoft. These rules require AI testing for
discrimination and security failures, and demand transparency with
governments and academics. This comes as Apple prepares to
integrate ChatGPT into its voice assistant. Moreover, the IAM CORE
Retail Employees Coalition of IAM reached a provisional agreement
with employees at a Maryland store to improve work-life balance,
offer 10% wage increases, and ensure job security. Workers at the
Apple store in Towson, Maryland, will vote on the agreement on
August 6. Shares rose 0.3% in pre-market.
Philips (NYSE:PHG) – In the second quarter,
Royal Philips recorded a 9% increase in new orders, the first rise
in two years, after resolving issues with its sleep apnea machines.
Adjusted earnings before interest, taxes, and amortization (EBITA)
reached 495 million euros ($537.4 million), surpassing estimates.
The adjusted EBITA margin rose to 11.1%. The company projects sales
growth of 3-5% and an adjusted EBITA margin of 11-11.5% for 2024,
with free cash flow forecasted between 0.8 and 1 billion euros. The
proposed dividend remained at 0.85 euros per share. Shares rose
10.2% in pre-market.
Abbott Laboratories (NYSE:ABT) – Abbott
Laboratories was ordered to pay $495 million, $95 million in
compensation, and $400 million in punitive damages for concealing
risks of its premature baby formula associated with a severe
intestinal disease. The verdict heightens concerns about the safety
of Abbott’s infant products. Abbott’s shares fell 7.1% in
pre-market.
Centene Corp (NYSE:CNC) – Centene Corp expects
its medical costs to improve next year with states reassessing
Medicaid enrollments. Although healthcare utilization remains high,
the company believes this situation is temporary and that its
Medicaid business should normalize.
Indivior (NASDAQ:INDV) – Indivior agreed to an
$86 million settlement with 16 U.S. states for its alleged role in
the opioid crisis. The company is accused of promoting the improper
use of its buprenorphine-based medications, used to treat addiction
but potentially contributing to dependency. The amount will be used
for addiction treatment and prevention. Shares fell 2.4% in
pre-market.
GSK Plc (NYSE:GSK) – GSK confidentially settled
a Zantac case with Ronald Kimbrow without admitting liability. The
lawsuit will be dismissed. GSK and other pharma companies face
litigation claiming Zantac may cause cancer. Despite 16 studies
finding no evidence of risk, GSK continues to defend itself. Shares
rose 0.8% in pre-market.
Microsoft (NASDAQ:MSFT) – LinkedIn agreed to
pay $6.625 million to settle a class action accusing it of
inflating video ad view counts, overcharging advertisers. The
preliminary settlement, requiring court approval, includes hiring
an external auditor to review its ad metrics for two years.
LinkedIn denies wrongdoing, but affected advertisers will receive
compensation. Shares rose 0.5% in pre-market.
Amkor Technology (NASDAQ:AMKR) – Amkor
Technology will receive $400 million in grants and $200 million in
loans from the U.S. government for a chip packaging project in
Arizona. The funding, part of the 2022 Chips and Science Act, will
support a new $2 billion facility in Peoria, creating about 2,000
jobs and boosting U.S. semiconductor manufacturing.
Amazon (NASDAQ:AMZN), Netflix
(NASDAQ:NFLX) – Amazon MGM Studios partnered with Scott Stuber,
former Netflix film chief, to fund and launch movies from his new
production company. Stuber will produce films for the relaunched
United Artists, to be shown in theaters and on Prime Video. UA was
originally founded by Charlie Chaplin in 1919 and acquired by MGM
in 1981. Netflix shares rose 0.3% in pre-market.
Walt Disney (NYSE:DIS) – Disney’s “Deadpool
& Wolverine” grossed $205 million in its opening weekend in the
U.S. and Canada, breaking the record for R-rated films. The film
exceeded expectations and the success of “Joker.” Starring Ryan
Reynolds and Hugh Jackman, it also helped revitalize the Marvel
Cinematic Universe and brought relief to cinema chains. Shares rose
1% in pre-market.
Warner Bros Discovery (NASDAQ:WBD) – Warner
Bros Discovery sued the NBA for rejecting its offer to match a
third-party proposal for broadcasting rights. Turner Broadcasting,
which invested billions in rights and production, claims the NBA
violated its contract by not allowing it to match Amazon’s offer.
The NBA says the allegations are unfounded. Shares rose 0.2% in
pre-market.
Rogers Communications (NYSE:RCI) – Rogers
Communications shares have fallen about 19% since January. However,
analyst Vince Valentini believes it’s a good time to buy, as the
recent price hikes by operators and the Bank of Canada’s rate cuts
should boost the company, promising significant recovery. Shares
are stable in pre-market.
DraftKings (NASDAQ:DKNG) – A study found that
the legalization of online sports betting since the 2018 U.S.
Supreme Court decision increased consumers’ financial stress. In
states where online betting is allowed, there has been an increase
in loan delinquencies and bankruptcies. The research, led by Brett
Hollenbeck, suggests financial problems may offset some expected
fiscal benefits. Shares rose 0.7% in pre-market.
MGM (NYSE:MGM) – BetMGM expects similar losses
in the second half as in the first six months due to investments in
marketing and customer experience. After a $123 million loss in the
first half, the company, the third largest in U.S. online betting
revenue, expects revenue growth in 2025. Shares fell 0.3% in
pre-market.
Alibaba (NYSE:BABA) – Alibaba announced it will
start charging a 0.6% service fee on confirmed transactions on its
Tmall and Taobao platforms starting in September. The change aims
to boost the company’s revenue and is similar to practices adopted
by other e-commerce platforms. The new policy will replace the
current annual fixed fee and may exempt small merchants. Shares
rose 3% in pre-market.
Amazon (NASDAQ:AMZN) – In Italy, an Amazon unit
is being investigated for tax evasion, focusing on duties and
customs fees. This inquiry, initiated in 2021, is unrelated to a
recent seizure of 121 million euros from another Amazon unit in
Italy. The suspected evasion amount has yet to be defined. Shares
rose 0.6% in pre-market.
Walmart (NYSE:WMT) – Walmart plans to invest up
to $200 million in autonomous forklifts for its distribution
centers, aiming to automate operations and reduce costs. The
company intends to acquire hundreds of units from Fox Robotics,
with an initial investment of $25 million. Automation is part of a
broader strategy to improve efficiency and reduce reliance on
manual labor.
Starbucks (NASDAQ:SBUX) – Former Starbucks CEO
Howard Schultz, the sixth-largest shareholder, opposes a potential
deal with activist investor Elliott Investment Management. Schultz
expressed his resistance to the board, while Elliott seeks to
improve Starbucks’ stock performance. Shares rose 0.2% in
pre-market.
McDonald’s (NYSE:MCD) – McDonald’s will release
its second-quarter results before the market opens today. It is
expected to report $6.62 billion in revenue for Q2, up 1.9% from
last year. Earnings are estimated at $3.07 per share, about 3.2%
lower than the same period last year. The $5 promotion may
negatively impact profit margins. Despite a 15% drop in shares this
year through last Friday, analysts have a median price target of
$302, suggesting a 20% upside. Shares rose 0.1% in pre-market.
Boeing (NYSE:BA) – Boeing is searching for a
new leader following Dave Calhoun’s departure at year-end. Kelly
Ortberg, former Rockwell Collins chief, is a top candidate for
Boeing CEO, according to The Air Current. Other contenders include
Pat Shanahan of Spirit AeroSystems and Stephanie Pope of Boeing.
Additionally, Boeing is asking suppliers to provide records of
Chinese titanium since 2014 after discovering fake documents used
to authenticate the metal in commercial jets. The investigation,
also affecting Airbus, aims to ensure compliance and safety of
parts.
Ryanair (NASDAQ:RYAAY) – Ryanair contested a
$163 million (€150 million) bailout granted by Austria to Austrian
Airlines during Covid-19, claiming it distorted competition.
However, the EU court ruled that the aid did not violate EU rules,
considering the pandemic’s impact and the airline’s size. Shares
rose 0.1% in pre-market.
Ferrari (NYSE:RACE) – In July, a Ferrari
executive received fake messages from CEO Benedetto Vigna via
WhatsApp, using a different photo and number. The scam involved a
convincing imitation of Vigna’s voice to discuss a confidential
deal, but the executive grew suspicious and sought confirmation on
a previously recommended book. Ferrari is investigating the
case.
Honda Motor (NYSE:HMC), Mitsubishi
Motors (TG:MIE1), Nissan (TG:A282LM) –
Rumors suggest Mitsubishi Motors is negotiating to join the
strategic partnership between Nissan and Honda. The collaboration
aims at electric vehicle components and software, without capital
merger. Growing pressure to reduce tech costs is forcing automakers
to unite. Honda shares rose 1.3% in pre-market.
Stellantis (NYSE:STLA) – Stellantis NV CEO
Carlos Tavares faces challenges. Despite his cost-cutting strategy,
the company struggles with low sales of Jeep SUVs and Ram trucks,
resulting in weak financial performance. Since January, Stellantis
has lost 40% of its value and saw the departure of seven senior
executives. Shares fell 2.9% in pre-market.
Tesla (NASDAQ:TSLA) – Over the weekend, Tesla
offered 1.99% financing for Model Y buyers in the U.S. with
delivery by September. Tesla shares closed down 0.2% last Friday.
Despite another analyst downgrade and a 12% drop after weak
earnings, factors like restructuring and selling regulatory credits
helped stabilize shares. Tesla, traditionally seen as a carmaker,
is viewed by some as an AI company due to its leadership in
autonomous driving technology. Compared to Nvidia, which dominates
the GPU market, Tesla presents an interesting tech investment
perspective despite its higher stock price and stabilized revenue.
Shares rose 0.8% in pre-market.
Rivian Automotive (NASDAQ:RIVN) – Volkswagen
and Rivian are considering forming a joint venture, as disclosed by
the German competition authority. Andreas Mundt, head of the
Bundeskartellamt, stated there are “no serious competition
concerns” regarding the partnership. Shares rose 0.9% in
pre-market.
Union Pacific (NYSE:UNP) – Union Pacific
interfered with a federal safety audit by coaching employees on how
to respond, leading the Federal Railroad Administration to cancel
the review. Senator Maria Cantwell initiated an investigation and
requested documents related to the audit, citing concerns about the
company’s safety culture and high derailment rate. Shares rose 0.9%
in pre-market.
3M (NYSE:MMM) – 3M shares rose 23% on Friday,
their biggest single-day gain ever, driven by better-than-expected
second-quarter earnings and an optimistic annual outlook. Shares
rose 0.3% in pre-market.
Diageo (NYSE:DEO) – Diageo is expected to
report its first annual sales decline since 2020. The company faces
challenges in North America and Latin America, with market share
losses and weak sales. Analysts project a 0.2% decline in net
sales. Investors are concerned about ongoing competition and
inventory issues. Shares fell 0.9% in pre-market.
Heineken (EU:HEIA) – Heineken reported a $949
million (€874 million) loss due to the write-down of its 40% stake
in China Resources Beer Holdings. Heineken’s operating profit
forecast was reduced to 4-8% growth in 2024, down from a previous
single-digit growth expectation.
Visa (NYSE:V) – The Reserve Bank of India fined
Visa $288,000 (24.1 million rupees) for implementing a payment
solution without necessary authorization. Visa stated it will
comply with RBI guidelines. The move is part of a broader effort by
the central bank to increase oversight of fintechs in India. Shares
rose 0.4% in pre-market.
Bank of America (NYSE:V) – Michael Hartnett of
Bank of America warns that the recent rally in big U.S. tech stocks
may weaken if the economy continues to slow. He predicts a rotation
to smaller, cheaper stocks and highlights that the global economy
may be in poor shape, which could negatively impact large tech
stocks.
Morgan Stanley (NYSE:MS) – Michael Wilson of
Morgan Stanley warned that a pessimistic outlook for U.S. corporate
earnings could negatively impact economy-linked stocks due to
falling inflation and its effect on pricing power. He notes that
cyclical sectors, more dependent on inflation, are struggling, and
the S&P 500 has faltered since July due to fears of rapid rate
cuts. The rotation to smaller, cheaper stocks is also not
materializing, with emphasis remaining on large-cap stocks. Shares
rose 0.3% in pre-market.
Charles Schwab (NYSE:SCHW) – Executives Walt
Bettinger and Rick Wurster bought Schwab shares after the stock
fell due to weak second-quarter results. Bettinger purchased 25,000
shares at $66.26 each, while Wurster bought 10,000 shares at $62.05
each. Shares fell 1.1% in pre-market.
Nasdaq (NASDAQ:NDAQ) – Nasdaq reported that
Thoma Bravo will sell 41.6 million of its shares in a secondary
offering, reducing its stake from 14.9% to 7.4%. After the sale,
raising $2.79 billion, Thoma Bravo will become Nasdaq’s
fifth-largest shareholder.
Apollo Global Management (NYSE:APO),
Sony (NYSE:SONY) – Apollo Global Management
invested $700 million in Sony Music Group, allowing its clients to
access high-quality alternative investments. The transaction, whose
terms were not disclosed, reflects the growing interest in music
assets, driven by streaming rights earnings and industry cash
flows. Sony shares fell 0.4% in pre-market.
Pershing Square USA – Bill Ackman’s closed-end
fund Pershing Square USA’s IPO was delayed, with a new date yet to
be set. Initially scheduled for pricing at $50 per share and debut
on the NYSE, it is now expected to be priced late next week. Ackman
aimed to raise $25 billion, but may reduce it to $2.5 to $4
billion.
Bank of Nova Scotia (NYSE:BNS) – Bank of Nova
Scotia resolved a technical issue affecting thousands of customers
in Canada, causing check and payment delays. The bank confirmed all
payments will be credited and any fees resulting from the issue
will be refunded. Over 3,000 customers reported the problem. Shares
rose 0.1% in pre-market.
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