News Corp (NASDAQ:NWS) – News Corp and OpenAI have established a historic partnership allowing OpenAI to use journalistic content from News Corp, including major titles like The Wall Street Journal and The Sun, to enhance OpenAI’s answers and products. News Corp’s shares rose up to 2% in pre-market trading.
DuPont de Nemours (NYSE:DD) – DuPont de Nemours Inc. plans to split into three independent companies, seeking specialization in smaller businesses. It will separate its electronics and water units, maintaining operations focused on areas like biopharmaceuticals. The third, housing its industrial solutions operations, including adhesives, would become the new DuPont. This move follows the trend of large conglomerates that have spun off their operations to enhance stock value, like Johnson & Johnson and General Electric. The division is expected to occur within 18 to 24 months, subject to regulatory approvals.
BHP Group (NYSE:BHP), Anglo American (LSE:AAL) – BHP maintains its acquisition proposal for Anglo American, focusing on mitigating execution concerns. The company has until May 29 to make a definitive offer. The chairman of Anglo cited completion risks.
Petrobras (NYSE:PBR) – Brazil’s antitrust regulator, Cade, approved new terms of a deal allowing Petrobras to retain control of certain oil and gas refining assets. This reflects a broader government initiative to diversify the energy sector and attract more investments.
Microsoft (NASDAQ:MSFT) – Microsoft is in talks with UAE’s AI company G42 to transfer advanced AI technology, including crucial components like model weights. This raises national security concerns in the US, with some lawmakers questioning the transparency and adequacy of security measures. The US Commerce Department needs to approve the deal, highlighting gaps in existing AI technology export laws.
Meta Platforms (NASDAQ:META) – Mark Zuckerberg, CEO of Meta, established the Meta Advisory Group, consisting of Patrick Collison, Nat Friedman, Tobi Lütke, and Charlie Songhurst. This unpaid advisory board will provide insights on artificial intelligence and technology to enhance Meta products amid an AI-focused expansion.
TSMC (NYSE:TSM) – TSMC anticipates an annual growth of 10% in the semiconductor industry, excluding memory, driven by the demand for AI chips. The company has lowered its previous outlook, while the World Semiconductor Trade Statistics forecast a growth of 13.1% in 2024.
Amazon (NASDAQ:AMZN) – Amazon announced that its voice assistant service Alexa will receive AI updates to make the voice assistant more conversational, planning to introduce a monthly subscription for users to fund AI upgrades. The price has not yet been decided. Additionally, Amazon Web Services (AWS) has partnered with AI startup Hugging Face to facilitate running AI models on its custom chips, aiming for efficiency and cost savings. Amazon seeks to attract more developers to its cloud platforms, highlighting lower costs in running AI models. At the annual shareholders’ meeting, investors rejected all 14 resolutions, including calls for greater transparency on carbon emissions. CEO Andy Jassy indicated that Amazon does not plan to offer dividends, opting to reinvest in the business.
Alibaba (NYSE:BABA) – Alibaba’s shares fell 2.3% in pre-market trading on Thursday following reports of plans to raise $5 billion through convertible bonds. This move comes after a similar offering from JD.com. Alibaba has faced recent challenges, including a significant profit decline in 2023.
Warner Bros Discovery (NASDAQ:WBD), Walt Disney (NYSE:DIS) – Warner Bros Discovery has secured a five-year deal with Walt Disney for the TNT network to broadcast selected College Football Playoff games, starting next season. This move comes amid ongoing negotiations over NBA broadcast rights. Additionally, Disney also plans to launch the Venu Sports streaming service in the third quarter.
Walmart (NYSE:WMT) – Walmart plans to invest $700 million in Guatemala over the next five years, as announced by regional executive Cristina Ronski. This announcement follows similar investments in Costa Rica. Walmart’s unit in the region, Walmex, has seen strong sales growth across various locations during the first quarter.
Walgreens Boots Alliance (NASDAQ:WBA), Cencora (NYSE:COR) – Walgreens Boots Alliance sold $400 million in shares of drug distributor Cencora, reducing its stake to about 12%. The proceeds will be primarily used for debt repayment and corporate purposes. This sale follows other stake reductions in recent years, with no impact on the partnership between the companies.
Cytokinetics (NASDAQ:CYTK) – Shares of the biopharmaceutical company plunged -15.4% in pre-market trading after announcing it would issue $500 million in common stock, with JPMorgan, Goldman Sachs, and Morgan Stanley serving as joint book-running managers.
Pfizer (NYSE:PFE) – Pfizer has launched a multi-year program to cut its expenses by $1.5 billion by 2027, supplementing a previous $4 billion plan. The company faces pressure from investors due to post-pandemic sales declines, responding with cost cuts and strategic acquisitions. Shares rose 0.47% in pre-market trading.
Moderna (NASDAQ:MRNA), Pfizer (NYSE:PFE) – Moderna and Pfizer are in discussions with the US government about a potential avian flu vaccine program, boosting shares amid concerns about outbreaks. Both companies are considering producing vaccines based on messenger RNA technology.
Bristol Myers Squibb (NYSE:BMY), Sanofi (NASDAQ:SNY) – A judge in Hawaii ordered Bristol Myers Squibb and Sanofi to pay over $916 million for failing to warn non-white patients about the health risks of Plavix. The medication, used to prevent blood clots, may have reduced effectiveness in certain ethnic groups due to genetic variations.
Biogen (NASDAQ:BIIB) – Biogen announced on Wednesday the acquisition of Human Immunology Biosciences for up to $1.8 billion, expanding its portfolio of drugs for rare diseases. The highlight is felzartamab, completing mid-stage studies for kidney disease treatment. The deal aims to strengthen Biogen’s position in innovative therapies.
Boeing (NYSE:BA) – NASA and Boeing aim for a manned launch of the Starliner spacecraft by June 1, following delays due to a helium leak. Engineers are investigating the issue to ensure safety. Starliner has faced development and budgetary challenges, competing with SpaceX. New launch dates are available if needed.
Mondelez International (NASDAQ:MDLZ) – The maker of Oreo was fined approximately $365.72 million by the European Union for hindering cross-border trade of chocolate, biscuits, and coffee within the EU. The European Commission claims the company abused its dominant position, violating EU antitrust laws.
Keurig Dr Pepper (NASDAQ:KDP) – Keurig Dr Pepper faces challenges in the coffee sector, but the new leadership led by Tim Cofer aims to revitalize the business. Partnerships and innovative product launches, such as K-Rounds capsules, may boost growth. Analysts are optimistic about the company’s recovery potential.
Lululemon Athletica (NASDAQ:LULU) – Lululemon announced on Wednesday the departure of its chief product officer, raising concerns about the brand’s loss of edge. The company will not replace Sun Choe, transferring his responsibilities to Jonathan Cheung. Analysts have expressed concerns about the impact on sales and product popularity, as competition increases and inventory becomes a challenge.
Live Nation Entertainment (NYSE:LYV) – The US Department of Justice and states plan to sue Live Nation Entertainment, possibly seeking a split, due to alleged anti-competitive practices by Ticketmaster. This move reflects an aggressive approach in pursuing competition and responds to criticism from concert fans and politicians.
JPMorgan Chase (NYSE:JPM) – The Commodity Futures Trading Commission of the US is set to resolve a dispute in a $100 million settlement with JPMorgan Chase & Co over reporting failures. The bank agreed to admit violations, reflecting a shift towards greater corporate accountability in response to regulatory pressure.
Goldman Sachs (NYSE:GS) – David Solomon, CEO of Goldman Sachs, does not expect the Federal Reserve to lower interest rates this year, citing inflation concerns. Contrary to market expectations, he highlights global challenges, including inflationary pressures and geopolitical issues, calling attention to the need for a broader approach to industrial policy in the US.
HSBC (NYSE:HSBC) – HSBC was fined approximately $8 million for unfairly treating over 1.5 million UK customers facing financial difficulties. The Financial Conduct Authority found the measures offered to customers inadequate, leading to additional financial risks. The FCA is strengthening consumer protections to prevent abuses.
Bridgewater Bancshares (NASDAQ:BWB) – Joanna Alpert, previously general manager of Bridgewater in China, has been promoted to head a new business unit focused on managing and creating investment products. The move reflects the company’s growth in China, where assets under management are expected to nearly double to 40 billion yuan. The recent reorganization at Bridgewater included splitting the business into two units: Alpha Engine, focused on the Pure Alpha fund, and Total Portfolio Strategies, led by Alpert, centered on tailored investment solutions. Alpert will move to the US and report directly to Karniol-Tambour.
KKR & Co. (NYSE:KKR) – KKR has secured a $133 million loan agreement for MYOB Ltd., an Australian accounting software company. The loan includes an interest payment option in kind and a margin of 525 basis points over the Australian benchmark rate. It will be used for financial restructuring. The loan will be directed towards financial restructuring.