Apple (NASDAQ:AAPL) – Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT), Match Group (NASDAQ:MTCH), and X joined Epic Games in protesting against Apple, accusing it of violating an injunction by restricting payment options in the App Store, claiming price inflation and competition hurdles. Furthermore, the U.S. Department of Justice is preparing to sue Apple for alleged antitrust law violations, citing blocking rivals’ access to iPhone features. Apple shares are down -1.2% in pre-market trading.
Intel (NASDAQ:INTC) – Intel plans to spend $100 billion across four U.S. states to build and expand factories, driven by federal grants. CEO Pat Gelsinger aims to transform Columbus, Ohio, into an AI chip hub, with investments through 2027.
Synopsys (NASDAQ:SNPS) – Synopsys unveiled new software tools on Wednesday to streamline the design of complex systems, such as cars and data centers. Beyond chip creation, the company aims to assist customers in developing products and systems, exemplified by Tesla’s pioneering use.
Equinix (NASDAQ:EQIX) – Hindenburg Research revealed a short position in Equinix, accusing it of inflating its profitability by manipulating expenses. Allegations suggest a $3 billion increase in AFFO since becoming a REIT in 2015. Equinix is investigating the accusations.
Astera Labs (NASDAQ:ALAB) – Astera Labs’ shares surged in their trading debut, exceeding expectations by raising $713 million in the initial public offering. The gain, the largest since June 2021, reflects optimism around AI and a rebound in listings. ALAB shares are up 6.00% in pre-market trading, priced at $65.75.
Reddit – Reddit priced its initial public offering at the top of its target range, raising $748 million and giving a boost to the challenging tech IPO market. Reddit plans to use 8% of the shares to attract retail investors.
Paramount Global (NASDAQ:PARA), Apollo Global Management (NYSE:APO) – Apollo Global Management offered $11 billion for Paramount Global, boosting acquisition interest in the Paramount Pictures film studio, considered a jewel of the media conglomerate. Other suitors include billionaire David Ellison and media entrepreneur Byron Allen.
Boeing (NYSE:BA) – On Wednesday, CFO Brian West informed analysts that Boeing will keep B737 jet production below 38 per month, now requiring fully compliant fuselages from supplier Spirit AeroSystems (NYSE:SPR) at its Washington factory.
Ryanair (NASDAQ:RYAAY) – Ryanair CEO Michael O’Leary will meet with Boeing executives in Dublin to discuss delays in 737 MAX 10 deliveries and certification. He emphasizes the need for improvements in Boeing’s production systems and quality control.
Tesla (NASDAQ:TSLA) – On Wednesday, Tesla announced that most employees at its German factory rejected the IG Metall union, opting for non-unionized representation on the new workers’ council. The union still hopes to occupy most seats.
Li Auto (NASDAQ:LI) – Li Auto shares, a Chinese electric vehicle company listed in the U.S., are down 7.2% in pre-market trading after revising its delivery estimates for the first quarter, projecting between 76,000 and 78,000 vehicles, down from the previous forecast of 100,000 to 103,000, citing orders below expectations.
Exxon Mobil (NYSE:XOM), TotalEnergies (NYSE:TTE) – Suriname’s state-owned oil company, Staatsolie, began negotiations with Exxon Mobil and TotalEnergies to develop natural gas fields spanning the maritime borders of Guyana and Suriname. The goal is to transform the South American nation into a regional gas hub.
Shell (NYSE:SHEL) – On Wednesday, Shell announced the sale of its 50% stake in SouthCoast Wind Energy to joint venture partner Ocean Winds North America for an undisclosed amount. The project aims to develop offshore wind farms in Massachusetts.
Barclays Plc (NYSE:BCS) – Barclays plans to cut hundreds of jobs in its investment bank to boost profits. The restructuring includes layoffs in global markets and research. CEO Venkatakrishnan seeks to make the unit more profitable with a focus on advisory and equity underwriting.
Citigroup (NYSE:C) – Citigroup is cutting jobs in its London investment banking division, aligning with the trend of employee cuts on Wall Street due to the downturn in global trading. The cuts affect around 20 employees, mainly junior staff.
JPMorgan Chase (NYSE:JPM) – JPMorgan Chase plans to appoint Alan Ho as CEO and Rita Chan as Senior Director to lead its operations in China. These changes come amid adjustments in regional leadership, including the departure of Asia-Pacific CEO Filippo Gori.
Walmart (NYSE:WMT) – According to a Bloomberg report, Walmart, known for its low prices, is transforming its stores with attractive lighting, luxury brands, and stylish product layouts. The investments aim to attract more affluent customers without alienating its traditional value base.
Nike (NYSE:NKE) – Nike is set to report its first quarterly revenue decline in nearly two years due to a slower-than-expected boost from its direct-to-consumer strategy and falling demand in North America, while rivals like Adidas also face similar challenges.
Chipotle Mexican Grill (NYSE:CMG) – Chipotle’s shares surpassed $3,000 for the first time on Wednesday, after the board approved a 50-for-1 stock split aimed at attracting investors with its high price. The fast-casual chain has seen record growth due to steady demand for its offerings.
Alibaba (NYSE:BABA) – Former Alibaba Group CEO Daniel Zhang will join Firstred Capital as managing partner, focusing on mergers and acquisitions. After 16 years at Alibaba, Zhang seeks a new direction in investments, including technology.
Earnings
Micron Technology (NASDAQ:MU) – Micron saw a 15.9% increase in pre-market trading after beating revenue forecasts and providing a solid outlook for the future. In the fiscal second quarter, Micron reported revenues of $5.82 billion and anticipates $6.6 billion for the next period, both figures exceeding analysts’ expectations. The adjusted earnings per share were 42 cents, while analysts had predicted a 25-cent per share loss.
BioNTech (NASDAQ:BNTX) – BioNTech reported a significant decline in revenues and profits in 2023, with revenues of 3.819 billion euros and net profit of 930.3 million euros, respectively. For 2024, it projects revenues between 2.5 billion and 3.1 billion euros, aiming to launch its first cancer drug in 2026. Sales of the COVID-19 vaccine with Pfizer (NYSE:PFE) fell 54% in the fourth quarter of 2023.
Five Below (NASDAQ:FIVE) – The discount retailer faced a 12.4% drop in pre-market trading due to underwhelming financial results and bleak outlooks for the fourth quarter. Five Below reported earnings of $3.65 per share and revenue of $1.34 billion. Analyst estimates surveyed by LSEG were for earnings of $3.78 per share and revenue of $1.35 billion. Additionally, the company issued conservative guidance for both the current quarter and the full year, contributing to the pressure on its shares.
Signet Jewelers (NYSE:SIG) – Signet Jewelers reported an adjusted profit of $6.73, beating estimates, on sales of $2.5 billion, which fell short of expectations. Furthermore, the board declared a quarterly dividend of 29 cents, a 26% increase. The forecasts for sales and profits were below analysts’ expectations.
Guess (NYSE:GES) – Guess’ shares rose 11.6% in pre-market trading following strong fourth-quarter results. Guess reported adjusted earnings of $2.01 per share and revenue of $891 million. Analyst estimates surveyed by LSEG were for earnings of $1.56 per share and revenue of $856 million.
Chewy (NYSE:CHWY) – Chewy reported earnings of 7 cents per share and revenue of $2.83 billion, exceeding expectations for a 5-cent per share loss and $2.77 billion in revenue. However, the company issued conservative revenue guidance for the current quarter, and its shares are down 1% in pre-market trading.
General Mills (NYSE:GIS) – General Mills achieved adjusted earnings of $1.17 per share and revenue of $5.1 billion in the fiscal third quarter, surpassing Wall Street expectations. CEO Harmening highlighted investments in brand building and innovation, while analysts reaffirmed a conservative outlook.
KB Home (NYSE:KBH) – KB Home shares rose 2.4% in pre-market trading after reporting earnings of $1.76 per share and revenue of $1.47 billion, exceeding analyst estimates surveyed by LSEG, which had forecast earnings of $1.57 per share and $1.46 billion in revenue.