Paramount Global (NASDAQ:PARA) – Some investors
in Paramount Global are concerned about a potential merger with
Skydance Media and are calling for a fair approach. Skydance, known
for hits such as “Top Gun: Maverick,” is in exclusive talks. Four
board members of Paramount Global have announced they will resign
amid reports of merger talks with Skydance Media. This will reduce
the board to seven directors, including Shari Redstone and CEO
Robert Bakish. The departure of board members is seen as a
precautionary measure to avoid litigation, and the deal could help
the company pay off its debt.
Morgan Stanley (NYSE:MS) – The wealth
management arm of Morgan Stanley is under scrutiny from regulators,
such as the SEC and the OCC, for allegations of lacking due
diligence in identifying clients and monitoring financial
activities. This means they are investigating whether the bank
conducted an adequate investigation into who its clients are, the
origin of their wealth, and how they are conducting their financial
transactions. These investigations may also relate to international
clients. In addition, Morgan Stanley has increased its commitment
to children’s mental health to $50 million over five years. The
Morgan Stanley Alliance for Children’s Mental Health funds
nonprofits addressing youth mental health, including an educational
center for marginalized children, in partnership with the American
Academy of Pediatrics and Sesame Workshop.
Amazon (NASDAQ:AMZN) – Amazon’s shares reached
a new record on Thursday, rising 1.7% to close at $189.05. The
company is now part of the elite group of tech giants, including
Meta Platforms, Microsoft, and Nvidia, which have reached all-time
highs during the post-pandemic recovery. Analysts are optimistic
about Amazon’s cost-cutting efforts and restructuring, seeing
potential for increased profitability and free cash flow.
Additionally, Amazon named Andrew Ng, a computer scientist known
for his work in artificial intelligence at Alphabet and Baidu, to
its board of directors. This occurs as Amazon faces competition in
cloud and voice assistants. Andrew is also a professor at Stanford
and an AI investor.
Alphabet (NASDAQ:GOOGL) – Investors are
optimistic about Alphabet’s AI strategy, with its shares
approaching the record $2 trillion market cap. Despite recent
stumbles, the company is rebounding, highlighting its AI growth
potential to attract investors. Shares have risen 12% this year,
fueled by advances in hardware and news about the possible adoption
of Gemini technology by Apple. Despite this, some question the
discount, arguing that Alphabet should focus on higher ROI. In
other news, Epic Games is urging a federal judge in California to
force Google to open its Play Store to more competition, following
a jury’s conclusion that Google abused its power on the Android
platform. The request, made to James Donato, aims to allow
competing app stores for six years. Google has until May 3 to
respond.
Apple (NASDAQ:AAPL) – Apple is advancing in the
production of M4 processors for computers, featuring AI
capabilities. According to Bloomberg, Apple aims to upgrade all Mac
models with these chips by the end of this year and early next
year, including new iMacs, 14-inch MacBook Pros, and Mac minis.
Apple’s shares jumped 4.3% on Thursday to $175.04, marking the
stock’s best daily gain since May 5, 2023, when it rose 4.7%.
Shares are down 0.4% in Friday’s pre-market.
Microsoft (NASDAQ:MSFT) – Russian
government-backed hackers exploited a Microsoft email system to
steal correspondence between employees and the company. The US
Cybersecurity Agency issued an emergency directive alerting about
the breach, which also targeted government agencies. Microsoft is
cooperating with the investigation.
HP Inc (NYSE:HPQ), Wex Inc
(NYSE:WEX) – Wex Inc., a company specializing in payment processing
and information management, has sued HP Inc. for trademark
infringement, alleging misuse of the name “Wex” to brand competing
software from HP, which could confuse
customers.
Meta Platforms (NASDAQ:META) – Australian
prosecutors have halted the criminal case of Andrew Forrest against
Meta due to fraudulent cryptocurrency ads on Facebook using his
image. Forrest, Australia’s second-richest person, claims these ads
caused losses to investors. Despite this, he continues to pursue
civil accountability in a separate case in California. Meta asserts
its commitment to combating scams, while Forrest insists on his
claims.
Advanced Micro Devices (NASDAQ:AMD),
Intel (NASDAQ:INTC) – Advanced Micro Devices saw a
1.9% drop, while Intel fell 1.5% in Friday’s pre-market, in
response to reports from the Wall Street Journal about the guidance
of Chinese authorities for the country’s major telecom operators,
instructing the gradual replacement of foreign processors.
Goldman Sachs (NYSE:GS) – A Goldman Sachs
economist predicts that the Nigerian naira may continue its
appreciation, following a 12% rise in April. Recent measures by the
central bank, including interest rate hikes, have helped the
currency recover. Goldman maintains a long-term projection for the
naira at 1,200 per dollar.
UBS Group AG (NYSE:UBS) – UBS may need to
retain between $10 billion and $15 billion in excess capital, due
to Swiss plans for stricter capital requirements. This could impact
share buybacks. The government plans to finalize the plans by
2025.
Reddit (NYSE:RDDT) – Reddit’s first earnings
report after its public offering will be on May 7. The company will
involve users in the process, allowing questions in a subreddit.
After an IPO in March, its shares soared 48% on the first day,
mainly driven by advertising and data licensing deals.
Lyft (NASDAQ:LYFT), Uber
Technologies (NYSE:UBER) – Lyft and Uber will extend their
services in Minneapolis until July 1. The decision follows the City
Council’s vote to delay the wage increase for shared transport
drivers from May to July, securing a minimum wage of $15.57 per
hour.
Lockheed Martin (NYSE:LMT) – Lockheed Martin
announced on Thursday it secured a contract of up to $4.1 billion
from the US Missile Defense Agency to continue developing its
battle command system, C2BMC-Next. This system is crucial for
defense against ballistic missiles, with a focus on global
integration. The contract spans from May 1, 2024, to April 30,
2029, with an option to extend until April 30, 2034, and will
involve upgrades at facilities in Huntsville, Alabama, and Colorado
Springs, Colorado.
Spirit Aerosystems (NYSE:SPR) – The CEO of
Airbus indicated that the company might take over two factories
managed by Spirit Aerosystems in the US and the UK, as Boeing seeks
to purchase one of its main suppliers. The final decision depends
on Boeing’s actions, but Airbus (USOTC:EADSY) has significant
influence.
Boeing (NYSE:BA) – The US Senate Commerce
Committee will hold a hearing next week with members of a panel
that criticized Boeing’s actions, seeking improvements in safety
culture.
Southwest Airlines (NYSE:LUV) – Southwest
Airlines is facing challenges due to reduced deliveries of Boeing
aircraft, affecting its growth plans. Initially expected to receive
46 aircraft, they now anticipate about 20, as they deal with
production delays and certification uncertainties. The company is
reviewing strategies to mitigate the impacts.
Ford Motor (NYSE:F) – US safety investigators
stated that a Ford Mustang Mach-E, equipped with the advanced
driver assistance system “BlueCruise,” was involved in a rear-end
collision with a stationary Honda CR-V on I-10 in San Antonio,
Texas, on February 24, resulting in a fatal accident. The NTSB is
investigating the incident, along with another similar accident in
Philadelphia on March 3. Ford also announced on Thursday that it
will begin shipping 144,000 redesigned F-150 and Ranger pickups to
dealers in the US, after holding them back due to quality concerns.
Additionally, Ford Motor has reduced the prices of some variants of
the electric F-150 Lightning by up to $5,500, facing a competitive
electric vehicle (EV) market. The XLT variant now costs $62,995,
while the Lariat dropped 3.14% to $76,995. The Flash variant has a
discount of $5,500, totaling $67,995.
Rivian Automotive (NASDAQ:RIVN) – Rivian
Automotive’s shares plummeted 6.8% to close at a record low on
Thursday after Ford Motor announced price cuts for its electric
vehicles F-150 Lightning.
VinFast (NASDAQ:VFS) – The Vietnamese
conglomerate Vingroup, boosting its electric vehicle branch, faces
growing financial risks due to the loss-making unit VinFast Auto.
Dependence on domestic sales and financial support raises concerns.
The company struggles to attract retail buyers and faces challenges
in the global electric vehicle market.
Exxon Mobil (NYSE:XOM) – The CEO of Exxon
Mobil, Darren Woods, received total compensation of $36.9 million
for 2023, an increase of nearly 3%. The company recommended that
investors vote against shareholder proposals, including emission
reductions and additional reports on social and environmental
issues.
Petrobras (NYSE:PBR) – A Brazilian judge has
suspended the chairman of the Petrobras board, Pietro Sampaio
Mendes, due to a conflict of interest with his role at the Ministry
of Energy. The decision included the suspension of his salary
payments and highlighted other alleged irregularities, as tensions
persist over dividends withheld by the company.
AstraZeneca (NASDAQ:AZN) – Shareholders of
AstraZeneca approved a salary policy for 2024, raising CEO Pascal
Soriot’s remuneration to up to 18.9 million pounds this year. Over
a third of investors opposed the package, reflecting concerns about
salary disparities and global competitiveness.
Zumiez (NASDAQ:ZUMZ) – Shares of Zumiez have
fallen more than 25% this year, but an executive of the company
took the opportunity to acquire devalued shares. Adam Ellis,
president of international operations, purchased 10,000 shares for
$143,100, increasing his stake to 57,917 shares.
Archer-Daniels-Midland (NYSE:ADM) –
Archer-Daniels-Midland announced on Thursday an expansion of the
recall of 17 additional lots of feeds for poultry, pigs, and
rabbits due to elevated levels of magnesium, sodium, calcium,
and/or phosphorus, posing risks to the animals.
Nike (NYSE:NKE) – Bank of
America (NYSE:BAC) now sees Nike’s estimates as
achievable, upgrading its recommendation to ‘Buy’ after 3 years of
‘Neutral’ rating, and raising the target price for the shares from
$110 to $113. The brand’s focus on innovation and reduction of
styles may cause a temporary drop in sales but could strengthen its
position in the long term.
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