Berkshire Hathaway (NYSE:BRK.A), Chubb (NYSE:CB) – Chubb’s stock increased by approximately 9.3% after Berkshire Hathaway disclosed its acquisition of nearly 26 million shares of the property and casualty insurer, representing a $6.7 billion investment. As a result, Chubb became Berkshire’s ninth-largest holding by the end of March, as recorded in a new regulatory document.
Netflix (NASDAQ:NFLX) – Netflix revealed that 40 million monthly active users have now adopted its ad-supported plan, compared to 5 million the previous year. Netflix also announced it will stream NFL games on Christmas this year, extending into 2025 and 2026. This marks the first time it has licensed league rights and streamed live football. The deal reflects a desire to attract sports audiences and boost the advertising market.
Comcast (NASDAQ:CMCSA) – Major League Baseball, the National Hockey League, and the National Basketball Association expressed concern over the imminent bankruptcy of broadcaster Diamond Sports, stressing that the lack of a new deal with Comcast could be fatal. The leagues, in a hearing, requested more information on the impasse in negotiations.
Walt Disney (NYSE:DIS) – CEO Bob Iger announced a drastic reduction in investment in programming for traditional television networks, aiming to maximize audiences and profits in the streaming era. Shows like “Abbott Elementary” quickly transitioned to Hulu, attracting a younger audience.
Paramount Global (NASDAQ:PARA), Amazon (NASDAQ:AMZN) – Paramount Global is in talks with Amazon to strengthen ties between their media operations, including possible combined channel and advertising sales. It is also considering a streaming partnership with Comcast to boost Paramount+, its already popular streaming service on Amazon’s channel store. Meanwhile, it faces acquisition offers from David Ellison and Apollo Global Management (NYSE:APO) to address financial challenges, following the replacement of CEO Bob Bakish with a new trio of leaders.
Trump Media & Technology Group (NASDAQ:DJT) – Hudson Bay Capital Management, Geode Capital Management, and Morgan Stanley are among the investors who acquired positions in Trump Media & Technology Group in the first quarter, securities records showed. On Wednesday, Trump Media informed the U.S. Securities and Exchange Commission that it would delay its quarterly filing due to the appointment of a new auditor after the dismissal of the previous one, accused of fraud.
Microsoft (NASDAQ:MSFT) – Microsoft is encouraging employees in China to consider relocating outside the country due to increasing tensions between the U.S. and China over technologies like artificial intelligence and semiconductors. About 700 to 800 people received the offer, mainly Chinese engineers.
Apple (NASDAQ:AAPL) – Coatue Management dissolved its stake in Apple Inc. in the first quarter, while Viking Global Investors built a substantial new position. Other major investors, such as Berkshire Hathaway, also reduced their stakes in Apple but praised the company.
Alphabet (NASDAQ:GOOGL) – Google is enhancing security in Android 15, revealed at the annual Google I/O conference. With anti-theft features, fraud protection, and a private space, it targets competition from Apple. Google also highlighted the growth of its ecosystem, including Wear OS and Android TV.
Palo Alto Networks (NASDAQ:PANW), IBM (NYSE:IBM) – Palo Alto is acquiring cloud security assets from IBM, including QRadar software, strengthening its Cortex Xsiam platform. The partnership aims to expand consulting and customer base. Meanwhile, IBM retains QRadar for local data centers but promotes the transition to Cortex Xsiam. The transaction is expected to be completed by September. Additionally, IBM plans to add 800 new employees in Ireland, marking the country’s largest multinational sector job announcement this year. These hires will focus on research and development, digital sales, and consulting, boosting the Irish technology ecosystem in key growth areas.
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) – A fatal explosion occurred at TSMC’s construction site in Arizona. Cesar Anguiano-Guitron, a 41-year-old driver, was killed while inspecting a waste tank. The local union expressed concern for safety, while TSMC is cooperating with investigations.
BlackRock (NYSE:BLK) – BlackRock revealed that only about 58% of votes at its annual meeting supported executive compensation. All 16 nominated directors received majority votes. Proxy advisors recommended votes against, citing concerns with the award determination processes. The company aims to engage with shareholders to address their concerns about executive compensation and respond to questions about its investment approach and corporate policies.
Corebridge Financial (NYSE:CRBG) – Nippon Life Insurance agreed to acquire 20% of Corebridge Financial for about $3.8 billion, its largest deal to date in the U.S. The transaction includes a strategic partnership with American International Group (NYSE:AIG) and is subject to regulatory approval.
Goldman Sachs (NYSE:GS) – Goldman Sachs is expanding its middle-market business to diversify revenue, after recruiting Kerry Burke from Evercore and Eddie Rubin from Lazard, as part of a strategy to advise mid-sized businesses on transactions up to $2 billion.
Visa (NYSE:V) – Visa is launching an innovative technology to share shopping preference information with retailers, using proprietary “tokens” for security. CEO Ryan McInerney emphasizes consumer control over shared data. Visa will also introduce facial recognition payments and flexible credentials in the U.S.
Anglo American (LSE:AAL) – According to Reuters, Anglo American has suspended global hiring, aiming to streamline and increase value, after resisting a $43 billion acquisition offer from BHP Group (NYSE:BHP). Refocusing on copper, the company is shutting down less profitable businesses and facing investor pressure.
Exxon Mobil (NYSE:XOM) – Exxon requested that proxy advisor Glass Lewis abstain from recommendations at its upcoming shareholder meeting, citing conflict of interest due to Glass Lewis’s affiliation with ICCR, which is critical of Exxon’s legal actions. Glass Lewis recommended voting against independent director Joseph Hooley.
Uber Technologies (NYSE:UBER) – Uber is diversifying its services, now offering bus transportation to airports and events, along with a partnership with Costco Wholesale (NASDAQ:COST) for deliveries via Uber Eats. The expansion aims to sustain growth, focusing on cost-effective options and strategic partnerships. Additionally, a U.S. judge dismissed a class action lawsuit against Uber, accused of concealing its use of a Dutch subsidiary as a tax haven. The judge found no evidence of false statements, noting that the company based its European operations in Amsterdam for tax reasons, not personal ones, as claimed.
Tesla (NASDAQ:TSLA) – A U.S. judge rejected Tesla’s attempt to dismiss a lawsuit alleging the company misled owners about the autonomous driving capability of its electric vehicles. The suit, led by Thomas LoSavio, seeks compensation for owners who believed Tesla’s claims since 2016.
Toyota Motor (NYSE:TM) – Toyota is testing its new electric Hilux pickup truck in Thailand, aiming for local production by 2025. With the Thai market being crucial, the automaker faces increasing competition from Chinese electric vehicle manufacturers. The focus is on understanding and meeting customer needs while expanding hybrid sales in the region.
Honda Motor (NYSE:HMC) – Japan’s Honda announced a significant increase in its investment in electrification and software, reaching about $65 billion by 2030. CEO Toshihiro Mibe emphasized the importance of securing reliable batteries and reducing costs before focusing on advanced software vehicles.
Nio (NYSE:NIO) – Nio announced the annual launch of new models under its Onvo brand, with prices comparable to gasoline vehicles, targeting the family market in China. The first Onvo L60 SUV was launched at a price 12% lower than Tesla’s Model Y. The company is also investing in electric vehicle infrastructure, including battery swapping stations, aiming to generate additional revenue as its user base grows.
Volaris Airlines (NYSE:VLRS) – The U.S. Department of Transportation will impose a fine of up to $300,000 on Volaris Airlines for tarmac delays that violate federal law. In two incidents, one in Houston in 2021 and another in St. Louis in 2022, passengers were unable to deplane due to long delays.
Pfizer (NYSE:PFE) – Pfizer agreed to pay up to $250 million to settle over 10,000 lawsuits in the U.S. related to the cancer risks of Zantac, according to the Financial Times. The settlement aims to mitigate Pfizer’s liability amid concerns about the medication.
Tyson Foods (NYSE:TSN) – CEO Donnie King of Tyson Foods expressed uncertainty about the timing of a significant rebuild of the U.S. cattle herd due to supply shortages, impacting the company’s beef business. Lower feed costs and better grazing conditions are encouraging, but high interest rates are a hurdle. Additionally, King reported that the reintroduction of some antibiotics is yielding positive results, with healthier birds gaining more weight and experiencing less early mortality. The company adjusted its antibiotic policy to focus on poultry health and operational efficiency.
Mondelez (NASDAQ:MDLZ) – Swedish fund AP7 will vote in favor of a resolution requiring Mondelez to conduct an independent study on the risks of continuing operations in Russia. The non-binding resolution will be voted on at the company’s annual meeting.
Lululemon Athletica (NASDAQ:LULU) – Lululemon will acquire the operations and retail stores of its franchise partner in Mexico. The local franchisee, Lululemon Mexico, has operated 15 stores since 2017. All employees will be absorbed by Lululemon. Financial terms were not disclosed.
On Holding (NYSE:ONON) – Swiss shoe manufacturer On Holding signed a sponsorship deal with 22-year-old tennis player Flavio Cobolli, elevating him to its select group of athletes. He will wear On apparel at the French Open in May. The company, whose deals include Roger Federer, aims to expand its global presence.
Victoria’s Secret (NYSE:VSCO) – Victoria’s Secret will revive its iconic angel wing runway show in the third quarter. After an attempt on Amazon Prime Video in 2023, the company returns to tradition.
GameStop (NYSE:GME), AMC Entertainment (NYSE:AMC) – GameStop recorded a 15.8% drop in pre-market trading, following a 19% decline on Wednesday, while AMC Entertainment saw a 12% drop in pre-market trading after a 20% decline the previous day. Despite recent drops, both stocks still posted significant gains over the week, driven by strong rallies on Monday and Tuesday.
Earnings
AST SpaceMobile (NASDAQ:ASTS), AT&T (NYSE:T) – Shares of AST SpaceMobile jumped 36.8% in pre-market trading after announcing a commercial agreement with AT&T to provide its satellite broadband network directly to mobile devices. Meanwhile, AT&T shares rose 0.6%. Additionally, AST SpaceMobile reported a loss per share of 16 cents in the first quarter, better than the 23-cent loss in the same period last year and estimates of a 21-cent per-share loss. The company reported revenue of $500,000, missing revenue estimates of $5.50 million.
Cisco Systems (NASDAQ:CSCO) – Cisco Systems shares rose 4.5% in pre-market trading after the tech company reported adjusted earnings of 88 cents per share in the third fiscal quarter, with revenues of $12.70 billion. The results exceeded analysts’ expectations of 82 cents per share and $12.53 billion in revenue, as reported by LSEG.
Baidu (NASDAQ:BIDU) – Shares of the Chinese internet search provider rose 2% in pre-market trading, driven by demand for its AI cloud business. Its net profit fell 6% to 5.45 billion renminbi. Excluding extraordinary items, profits would have increased 24% to 19.91 renminbi per share, or $2.76 per U.S. share. Revenue rose 1% to $4.37 billion (31.5 billion renminbi), with the core Baidu and its AI service Ernie offsetting the decline in its video streaming service iQIYI. Analysts expected a profit of $2.21 per share and sales of $4.34 billion.
B. Riley Financial (NASDAQ:RILY) – B. Riley shares are steady in pre-market trading after reporting a loss of $1.71 per share in the first quarter, contrasting with a net profit of 51 cents last year. Revenue for the period was $343.03 million. The company maintained its quarterly dividend at 50 cents per share, after halving it in February.
Hawkins (NASDAQ:HWKN) – Hawkins shares are steady in pre-market trading after reporting revenue of $223 million, compared to the consensus estimate of $217.49 million in the fourth quarter, a 2% drop from the same period last year. The company reported earnings per share of $0.66, below the $0.68 expected by analysts. Management expressed caution about the performance of its industrial sector over the next 12 months, noting that while moderately optimistic, they still expect economic and competitive pressures to affect many of their clients, impacting demand.