Alphabet (NASDAQ:GOOGL) – A U.S. judge plans to force Google to allow Android users to download apps from sources other than the Play Store after a favorable antitrust ruling for Epic Games. The decision will be clear but won’t detail daily management. Google argues this will harm security and competition. Shares fell 2.3% pre-market.
Apple (NASDAQ:AAPL) – Apple is developing an innovative home device that combines a large screen with a robotic arm, seeking new revenue sources. The product, codenamed J595, can rotate 360 degrees and tilt, functioning as a command center and videoconferencing hub. Expected to launch between 2026 and 2027, it could be priced around $1,000. Additionally, Apple will allow banks and services to use the iPhone’s payment chip starting from iOS 18.1, enabling transactions with third-party apps. This includes in-store payments, transit fares, and ID cards. The change responds to regulatory pressures and may impact Apple Pay’s revenue. Shares rose 0.2% pre-market.
Spotify (NYSE:SPOT) – Spotify will update its app for Apple devices in the European Union, including plan prices, after Apple rejected the initial request. Spotify will accept Apple’s music streaming terms but won’t include external links for payments, avoiding commissions. The change follows an EU fine against Apple. Spotify shares fell 0.1% pre-market.
MercadoLibre (NASDAQ:MELI) – Marcos Galperin, co-founder and CEO of MercadoLibre, sold 100,000 shares, raising about $188.4 million following a strong quarterly report. His stake remains around 7% in the company. MercadoLibre, now the most valuable company in Latin America, saw its shares rise nearly 50% in the last year. Shares fell 0.9% pre-market.
Victoria’s Secret (NYSE:VSCO) – Victoria’s Secret is hiring Hillary Super, former CEO of Savage X Fenty, to lead the company’s recovery. Super will replace Martin Waters, who was recently fired. The company faces ongoing challenges with competition and declining demand. Shares rose 16.4% pre-market.
Kellanova (NYSE:K) – Mars, the maker of M&M’s, is buying Kellanova for nearly $36 billion, bringing brands like M&M’s and Pringles under its portfolio. Mars plans to absorb costs and invest in healthy products, avoiding price increases for consumers, and Kellanova will be integrated into Mars’ snacks division by 2025. In McLean, Virginia, the joke is that the real secret organization isn’t the CIA but Mars Inc., according to Reuters. Mars, one of the wealthiest families in the U.S., is known for its privacy and large acquisitions. Kellanova shares rose 7.8% pre-market.
Intel (NASDAQ:INTC), Taiwan Semiconductor Manufacturing Co (NYSE:TSM) – SoftBank withdrew from a partnership with Intel to develop an AI chip, citing Intel’s inability to meet volume and speed demands. SoftBank is now focusing on negotiating with TSMC. Intel shares fell 2.7% pre-market, while TSMC shares fell 1.4%.
Dell Technologies (NYSE:DELL) – The Delaware Supreme Court ruled that five law firms are to receive $267 million in fees for a $1 billion settlement for Dell Technologies shareholders. This fee is one of the largest ever paid in shareholder litigation in the U.S. and has sparked debates about the appropriateness of the amount. Shares rose 3% pre-market.
T-Mobile (NASDAQ:TMUS) – The U.S. Committee on Foreign Investment (CFIUS) fined T-Mobile $60 million for failing to protect and adequately report unauthorized access to sensitive data. The fine, the largest ever imposed by the committee, resulted from violations of an agreement made during T-Mobile’s acquisition of Sprint. Shares rose 0.6% pre-market.
Booking Holdings (NASDAQ:BKNG), Expedia Group (NASDAQ:EXPE), Airbnb (NASDAQ:ABNB) – Short-term rental companies like Booking Holdings, Expedia Group, and VRBO are ramping up efforts to influence lawmakers and avoid restrictions on short-term rentals. With slowing growth in several major North American cities, these companies have increased their lobbying spending, with Expedia investing $380,000 and Booking Holdings $570,000 in the first half of 2024. While Airbnb has reduced its lobbying spending, it continues to monitor regulations affecting the market. Booking shares rose 0.1% pre-market, while Expedia and Airbnb shares fell 1.2% and 0.6%, respectively.
Squarespace (NYSE:SQSP) – A Squarespace shareholder criticized the $6.9 billion acquisition by Permira, claiming the $44 per share price undervalues the company. Glazer Capital, which owns 5.4% of the shares, argues that omitted analyses indicate a true value of $49.30 per share. The shareholder opposes the sale. Shares rose 0.7% pre-market.
Social Media – A study by the Stanford Deliberative Democracy Lab shows that most American teenagers reject restrictions on social media platforms despite acknowledging potential mental health harms. Over 60% of new voters oppose requiring parental consent for minors under 16, and 85% do not want time limits on notifications.
Playtech Plc (LSE:PTEC), Flutter Entertainment (NYSE:FLUT) – Playtech Plc shares surged on Wednesday after confirming exclusive talks with Flutter Entertainment to sell its Italian unit Snaitech for about $2.6 billion (£2 billion). Flutter aims to expand its global presence through acquisitions, including the purchase of Sisal and Tombola. Flutter shares rose 8.1% pre-market.
Starbucks (NASDAQ:SBUX) – Starbucks’ new CEO, Brian Niccol, could earn up to $98 million in stock and annual awards, plus a base salary of $1.6 million and a $10 million bonus. According to Bloomberg, Niccol won’t need to relocate to Seattle, instead working remotely from Newport Beach, California, where Starbucks will pay for an office. Niccol will commute to Seattle as needed. Shares fell 2.1% pre-market.
Shake Shack (NYSE:SHAK), Serve Robotics (NASDAQ:SERV), Uber Technologies (NYSE:UBER) – Shake Shack and Serve Robotics partnered to deliver orders made on Uber Eats using autonomous robots in Los Angeles. Serve aims to expand its robot fleet by 2025, and the partnership will help Uber explore more U.S. regions. Shake Shack shares rose 0.7% pre-market, while Serve Robotics and Uber shares rose 9.6% and 1.2%, respectively.
Alaska Air Group (NYSE:ALK), Hawaiian Holdings (NASDAQ:HA) – Alaska Air postponed the DOJ’s review of its $1.9 billion acquisition proposal of Hawaiian Holdings by one day. The extension runs until August 16. The deal, aimed at increasing Alaska’s market share in Hawaiian flights, faces strict regulatory scrutiny. Additionally, Alaska Airlines flight attendants rejected a three-year tentative labor agreement offering a 32% wage increase. The union, Association of Flight Attendants-CWA, will survey members to identify issues and resume negotiations, highlighting worker participation’s importance. Alaska Air shares fell 2% pre-market, while Hawaiian Holdings shares rose 6.1%.
Boeing (NYSE:BA) – El Al Israel Airlines has signed an agreement with Boeing to acquire up to 31 737 MAX aircraft, valued at up to $2.5 billion. The contract includes purchasing 20 aircraft for $1.5 billion, with options for 11 more. Deliveries are expected to begin in 2028, though they could start in 2027 through leasing. Additionally, the U.S. Department of Justice is expected to approve a settlement with Boeing over fraud charges related to two fatal 737 MAX crashes. Boeing will pay at least $243.6 million in fines and invest $455 million in safety and compliance improvements. However, the victims’ families deemed the fine insufficient. Moreover, NASA is deciding by the end of August how to bring astronauts Butch Wilmore and Suni Williams back to Earth after issues with Boeing’s Starliner capsule. Launched on June 5, the Starliner was supposed to return in eight days, but the astronauts have been on the ISS for over 60 days. In response, NASA is considering using a SpaceX Crew Dragon for the return, possibly in February 2025. Lastly, the astronauts do not receive additional compensation for their extended stay. Boeing shares fell 0.2% pre-market.
Tesla (NASDAQ:TSLA) – The National Highway Traffic Safety Administration (NHTSA) closed an investigation into 74,918 Tesla vehicles due to front suspension failures. Although it found no evidence of significant issues affecting drivability, NHTSA noted that Tesla has had problems with suspension and steering components in several recalls. The agency recommended expanding the component replacement for all affected vehicles. Shares fell 3.1% pre-market.
Toyota Motor (NYSE:TM) – The National Highway Traffic Safety Administration (NHTSA) closed an investigation into 1.8 million Toyota RAV4 SUVs from 2013-2018 models after concerns over battery short circuits. The investigation revealed that the fires occurred in vehicles with replaced batteries or those older than expected. Shares rose 2.7% pre-market.
Polestar Automotive (NASDAQ:PSNY) – Polestar began manufacturing the Polestar 3 SUV in the U.S. to avoid tariffs on Chinese-made electric vehicles. Assembled at Volvo’s Ridgeville, South Carolina plant, the $73,400 model will be sold in America and Europe. The company faces operational challenges and job cuts to reduce costs. Shares fell 2.7% pre-market.
DR Horton (NYSE:DHI) – Buying a home is challenging due to high prices and mortgage rates, currently around 7%. However, DR Horton shares stand out, with an average annual return of 25% over the past 10 years. The company, with shares at $174, has a stock of 43,000 homes and a land portfolio of 630,000 lots. Its shares are expected to rise to $210 by 2025, with earnings growth around 10% annually and a quarterly dividend of 30 cents, yielding 0.7%. Shares fell 0.5% pre-market.
Equinor ASA (NYSE:EQNR), Dominion Energy (NYSE:D) – Equinor and Dominion won leases in a U.S. offshore wind energy auction, with Equinor offering $75 million for 101,443 acres and Dominion $17.65 million for 176,505 acres. The sale generated less than $93 million, reflecting challenges in the wind sector, such as high costs and supply chain issues. Equinor shares rose 0.3% pre-market, while Dominion shares rose 0.8%.
Eli Lilly (NYSE:LLY) – Eli Lilly sent cease-and-desist letters to U.S. healthcare providers to stop promoting compounded versions of its Zepbound and Mounjaro drugs. With the growing availability of original drugs, Lilly wants to prevent the sale of copies made by pharmacies, which offer lower prices. Shares fell 2.6% pre-market.
Medtronic (NYSE:MDT) – Weight-loss drugs like Ozempic and Wegovy are impacting Medtronic in two ways. First, there’s concern that these drugs could reduce demand for Medtronic products like stents and insulin pumps. The company’s shares fell to $81.74, despite the healthcare sector rising more than 10% in the same period. Investors fear that the impact on bariatric procedures and demand for medical devices could negatively affect revenues. However, Medtronic believes the impact will be temporary and that new products and growing demand due to an aging population could offset these concerns. Shares fell 0.6% pre-market.
Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson is preparing to announce that 75% of cancer claimants linked to its talc have accepted a $6.48 billion bankruptcy settlement. The company plans to use a subsidiary to seek bankruptcy protection and end the lawsuits, despite objections from some attorneys and previously rejected bankruptcies. Shares rose 0.1% pre-market.
UBS Group AG (NYSE:UBS) – UBS Fund Management decided to liquidate the Credit Suisse Real Estate Fund International starting Thursday. The decision was made after a detailed assessment of options to protect investors’ interests, as reported by the bank. Shares rose 5.6% pre-market.
NatWest (NYSE:NWG) – Texas added NatWest to its list of companies boycotting the energy sector for limiting oil and gas financing. This could restrict the bank’s business with state public entities. The measure is part of a political backlash against ESG policies. Shares fell 0.1% pre-market.
Klarna Bank AB – Klarna Bank AB is close to choosing Goldman Sachs to lead its U.S. IPO next year. The Swedish fintech is also negotiating a sale of existing shares ahead of the IPO, seeking a valuation of around $20 billion. The bank’s valuation has already fallen from $45.6 billion to $6.7 billion due to rising interest rates.
Barclays (NYSE:BCS) – Barclays decided to withdraw from future Israeli government bond auctions after pressure from pro-Palestinian activists. The bank will still act as a primary dealer alongside major international banks but faced criticism for its involvement with defense companies supplying equipment to Israel. Shares fell 0.5% pre-market.
Citibank (NYSE:C), Julius Baer (USOTC:JBAXY) – Singapore charged two former bankers, Wang Qiming and Liu Kai, in the country’s largest money laundering scandal, totaling S$3 billion. Wang, formerly with Citibank, forged documents to deceive his bank, while Liu, formerly with Julius Baer, facilitated account openings with forged documents. Both are awaiting trial on bail. Citigroup shares rose 1.9% pre-market.
Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS) – The variety of institutional investors in bitcoin ETFs is growing. Goldman Sachs and Morgan Stanley bought more than $600 million in bitcoin ETFs in the second quarter of 2024. Goldman Sachs invested about $418 million, while Morgan Stanley acquired $188 million in bitcoin-related ETFs. Goldman shares rose 1.4% pre-market, while Morgan Stanley shares rose 2.8%.
Investment Portfolios
Alibaba (NYSE:BABA), Shift4 Payments (NYSE:FOUR) – Michael Burry’s Scion Asset Management, known for betting against the U.S. housing market in 2008, increased its stake in Alibaba to $11.2 million, while halving its overall portfolio in the second quarter. It also bought Shift4 Payments shares and built new positions in various sectors. Alibaba shares fell 2% pre-market, while Shift4 shares rose 5.5%.
Pershing Square Capital Management (LSE:PSH), Nike (NYSE:NKE), Alphabet (NASDAQ:GOOGL) – Investor William Ackman of Pershing Square acquired new stakes in Nike, holding 3.04 million shares, as disclosed in a regulatory filing. Additionally, Pershing Square reduced its stake in Alphabet by 19.5%, retaining 7.55 million class C shares.
Berkshire Hathaway (NYSE:BRK.B), Ulta Beauty (NASDAQ:ULTA), Heico (NYSE:HEI), Snowflake (NYSE:SNOW) – Berkshire Hathaway’s 13F report shows that Warren Buffett’s conglomerate bought a small stake of $266 million in beauty and care products company Ulta Beauty. Berkshire held Heico shares worth $185.4 million and also bought Chubb and Sirius XM shares. Additionally, Berkshire completely sold its position in cloud data storage company Snowflake and Paramount Global. The company halved its stake in Apple and also reduced shares in Bank of America, T-Mobile, among others. Ulta shares fell 0.8% pre-market.
Apple (NASDAQ:AAPL), Broadcom (NASDAQ:AVGO), Micron (NASDAQ:MU), Texas Instruments (NASDAQ:TXN), Super Micro Computer (NASDAQ:SMCI), Qualcomm (NASDAQ:QCOM), Ambarella (NASDAQ:AMBA), Block (NYSE:SQ) – In the quarter ended June 30, George Soros’ fund bought Apple shares valued at over $160 million and made new investments in Broadcom, Micron, Texas Instruments, and Super Micro Computer. On the other hand, it sold stakes in Qualcomm and Ambarella, and divested in Block. It also reduced positions in 3M and Chemours.
Unilever (NYSE:UL) – Nelson Peltz’s Trian Fund Management sold 3.8 million Unilever shares for about $232 million, reducing its stake to 32.6 million shares. The fund had acquired Unilever shares in 2022 and still maintains collaboration with the company’s board. Shares rose 0.1% pre-market.
CVS Health (NYSE:CVS), US Foods (NYSE:USFD) – Sachem Head Capital acquired 2.45 million CVS Health shares during the second quarter when the company’s shares fell 25%. The stake represents 0.20% of CVS. The fund also reduced its position in US Foods. The acquisition may signal a potential activist investment to improve CVS’s stock performance. CVS shares rose 0.3% pre-market, while US Foods shares rose 3.9%.
Trump Media & Technology Group (NASDAQ:DJT) – In the second quarter, institutional investors like Vanguard, BlackRock, and State Street took large positions in Trump Media & Technology Group before its inclusion in the Russell indexes. These funds bought shares in advance, reflecting the company’s inclusion in the indexes and causing significant stock volatility. Trump Media & Technology shares fell to near-record levels on Wednesday after weak financial results and Trump’s return to platform X. The decline in Trump’s poll numbers and focus on X instead of Truth Social affected investor confidence. The company’s valuation fell to $4.73 billion, less than half its initial value.