United Parcel Service (NYSE:UPS) – United Parcel Service will sell its Coyote Logistics unit to RXO for $1.025 billion. The transaction will be financed through equity and debt, including significant investments from MFN Partners and Orbis Investments. The sale allows UPS to focus more on its core business.
Under Armour (NYSE:UAA) – Under Armour agreed to pay $434 million to settle a 2017 class-action lawsuit, accused of misleading shareholders about its revenue growth to meet Wall Street expectations. The settlement avoids a trial set for July 15. The shares fell 3.43% in pre-market trading.
Apple (NASDAQ:AAPL) – Apple’s antitrust dispute with the European Union is escalating, with the European Commission issuing a new warning that could lead to more fines for Apple. The company is accused of illegal practices in the App Store, especially for limiting how developers direct users to offers outside the store. The EU is now investigating App Store fees, and Apple could face fines of up to 10% of its global annual revenue. Recently, Apple announced it would delay the launch of three new AI features in the EU due to interoperability requirements imposed by the Digital Markets Act (DMA). The company expressed concerns that such requirements could compromise user data privacy and security. Shares fell 0.14% in pre-market trading.
Meta Platforms (NASDAQ:META) – Meta Platforms is discussing integrating its generative AI model into Apple’s new AI system for iPhones. Apple seeks to incorporate AI technologies from various companies, expanding its industry partnerships, including negotiations with startup Anthropic and search company Perplexity. Shares rose 0.70% in pre-market trading.
Alibaba (NYSE:BABA), JD.com (NASDAQ:JD) – Apple added Chinese online retail giants Taobao (a unit of Alibaba) and JD.com to the list of apps compatible with its new mixed reality headset Vision Pro. Taobao will offer virtual experiences like car test drives and makeup simulations, while JD.com will allow product visualization in home environments through its JD.Vision app. In pre-market trading, Alibaba shares fell 0.10% while JD.com shares rose 0.50%.
Amazon (NASDAQ:AMZN) – Amazon plans to revamp its Alexa service by introducing generative AI and two service levels. A possible monthly cost of about $5 would be charged for the premium version. This project, internally called “Banyan,” is the first major update since Alexa’s introduction in 2014. Additionally, Formula 1 will introduce a new artificial intelligence called “Statbot” during the Spanish Grand Prix, created in partnership with Amazon. This system will use race data to provide real-time analysis and trivia, aiming to enhance viewer experience and engagement. Shares fell 0.12% in pre-market trading.
Spotify (NYSE:SPOT) – Spotify launched a new streaming plan in the US for $10.99 per month, offering the benefits of a premium plan except for audiobook listening. This follows a price increase in its premium plans to improve the company’s financial margins.
Nvidia (NASDAQ:NVDA) – Nvidia signed a deal to deploy its AI technology in the data centers of the telecommunications group Ooredoo in five Middle Eastern countries. This agreement marks Nvidia’s first large-scale launch in the region and will allow Ooredoo to offer exclusive AI services to its customers. After becoming the world’s most valuable company, Nvidia’s shares fell 6.7% over the past two sessions, losing more than $220 billion in market value. In 2024, Nvidia shares rose 156%, and CEO Jensen Huang sold 720,000 shares between June 13 and 21 for $94.6 million. Shares fell 1.7% in pre-market trading.
Broadcom (NASDAQ:AVGO), Taiwan Semiconductor Manufacturing Co (NYSE:TSM) – China’s ByteDance, owner of TikTok, is working with Broadcom to create a 5-nanometer artificial intelligence (AI) processor. This custom chip will help ByteDance secure a stable supply of advanced semiconductors amid trade restrictions between the US and China. The production of this chip will be outsourced to Taiwan’s TSMC, adhering to US export regulations. Broadcom shares rose 0.60% in pre-market trading, while TSMC shares fell 1.3%.
Trump Media & Technology Group (NASDAQ:DJT) – On Friday, the company announced it expects to generate more than $69.4 million from the activation of warrants last Thursday and Friday. Recently, the Securities and Exchange Commission approved the necessary documents for the company to resell its shares and warrants. Trump Media also projected it could raise up to $247 million if all available warrants were activated. Shares of Trump Media rose 6.6% before the market opened.
Alaska Air Group (NYSE:ALK) – The union representing Alaska Airlines flight attendants reached a tentative contract agreement with the airline. Details will be reviewed by union leadership before being submitted for ratification by members.
American Airlines Group (NASDAQ:AAL) – American Airlines flight attendants, represented by a union, are considering striking after negotiations failed to reach a new agreement. They are divided on key issues such as wage increases and retroactive pay. The strike could occur after a 30-day “cooling-off” period if negotiations declare an impasse. Shares rose 0.09% in pre-market trading.
Boeing (NYSE:BA) – The US Department of Justice has yet to decide whether to prosecute Boeing for violating the terms of a 2021 agreement related to two fatal 737 MAX crashes. Boeing, which paid $2.5 billion to resolve the previous criminal investigation, claims it complied with the agreement. Shares fell 0.63% in pre-market trading.
Tesla (NASDAQ:TSLA) – Tesla and opponents of Elon Musk’s $56 billion compensation package are in court. Tesla argues that shareholder approval should validate the package, while shareholders contend that the vote has no legal effect and that the only option is to appeal to the Delaware Supreme Court. Additionally, Musk’s lawyers argue that recent approval of the pay package should delay a hearing on attorney fees due to its implications in ongoing litigation. They requested the postponement of the hearing set for July 8. Shares fell 0.17% in pre-market trading.
Fisker (NYSE:FSR) – Electric vehicle startup Fisker is heading for liquidation after filing for bankruptcy, with lawyers anticipating a creditor dispute over who gets paid first. The company plans to liquidate its assets, including 4,300 vehicles, after failing to secure additional funding.
Lockheed Martin (NYSE:LMT) – China imposed sanctions on Lockheed Martin subsidiaries and their senior executives, including the president, in response to US arms sales to Taiwan. These sanctions include asset freezes and entry bans for the affected executives.
American Express (NYSE:AXP) – American Express is acquiring restaurant reservation platform Tock for $400 million to expand its presence in the restaurant sector, which generated $100 billion in spending on its cards last year. The acquisition follows the purchase of Resy in 2019 and aims to enhance benefits for its customers.
Morgan Stanley (NYSE:MS) – Morgan Stanley faces a lawsuit from the heirs of a deceased client. They accuse the bank of failing to act in the best interest of clients by paying only 0.01% interest on their uninvested cash. The lawsuit argues that the bank should offer a higher interest rate as established by SEC regulations.
Citigroup (NYSE:C) – Citigroup named Matthew Hung as the new head of corporate banking for Hong Kong, replacing Joy Cheng. The move is part of a global restructuring of Citi to streamline operations and will take effect on August 19. Hung joins from HSBC, where he managed corporate coverage in Hong Kong.
Mitsubishi UFJ Financial Group (NYSE:MUFG) – Japan’s Financial Services Agency ordered MUFG to improve compliance measures after finding violations of “firewall” regulations, which prohibit sharing customer data between banks and brokerages within the same group without consent. Due to these violations, where customer data was improperly shared and the bank offered preferential loan conditions to encourage business with its brokerages, the regulator required MUFG to identify the causes of the problems and present action plans to prevent future infractions.
LPL Financial (NASDAQ:LPLA) – A former LPL broker in Florida, Nathaniel Adams, was suspended for two months and fined $5,000 by Finra after improperly sending personal information of about 2,300 clients to his wife and a contact at LPL. By sending a spreadsheet with sensitive client data, including information about people he did not work with, he violated privacy policies.
Carlyle Group (NASDAQ:CG) – Carlyle Group is moving forward with the sale of the Italian fashion brand Twinset, requesting non-binding offers and aiming for a valuation of around 300-350 million euros. The company chose Rothschild as a financial advisor to facilitate the process. Carlyle Group increased its stake in Twinset from 72% in 2012 to 90% in 2015, acquiring full control in 2017. Sale attempts in 2020 were halted by the pandemic. The fashion brand struggles to reach pre-Covid profit and revenue, with a profit of 34 million euros in 2023.
Walmart (NYSE:WMT), Capital One (NYSE:COF) – Walmart resolved its lawsuit against Capital One over their exclusive credit card issuance partnership, which ended after disagreements over customer service quality. The terms of the settlement were not disclosed, and the case was dismissed by Judge Katherine Polk Failla.
PepsiCo (NASDAQ:PEP), Britvic (LSE:BVIC), Carlsberg (TG:CBGB) – PepsiCo agreed to remove a clause from its bottling agreement with Britvic, making it easier for Carlsberg to present a more attractive acquisition proposal after two rejected offers. Removing the clause could facilitate a new offer from Carlsberg for Britvic.
Darden Restaurants (NYSE:DRI) – Olive Garden, owned by Darden Restaurants, opts not to offer significant discounts as a strategy to attract customers, unlike competitors like McDonald’s and Burger King. The company prioritizes sustainable profitable growth over aggressive promotions, focusing on maintaining stable prices despite inflation.
Chipotle Mexican Grill (NYSE:CMG) – Chipotle Mexican Grill will conduct a 50-for-1 stock split on June 26, making its shares more accessible to retail investors and employees. This applies to all Chipotle common shares outstanding as of June 18. Although shareholders will have more shares, the total investment value does not change. This is the company’s first stock split.
AMC Entertainment Holdings (NYSE:AMC) – AMC is in negotiations with creditors to reduce its $4.5 billion debt and extend near-term maturities. These talks aim to restructure the $2.8 billion due in 2026, including a $1.9 billion loan and second-lien notes. The decision is still pending. Shares fell 2.20% in pre-market trading.
Madison Square Garden Entertainment (NYSE:MSGE) – James Dolan had his contract as executive chairman and CEO of Madison Square Garden Entertainment renewed for another three years, until June 30, 2027. He will receive an annual base salary of at least $1.5 million, a target bonus of 200% of his salary, and annual long-term awards of at least $8.6 million.
Altria (NYSE:MO) – The US Food and Drug Administration (FDA) approved the sale of four menthol-flavored e-cigarettes from Altria, marking the first time the agency has allowed e-cigarettes with a flavor other than tobacco. Shares rose 0.11% in pre-market trading.
Eli Lilly (NYSE:LLY) – Eli Lilly announced on Friday that it is seeking FDA approval to expand the indications for its weight-loss drug Zepbound to also treat sleep apnea.