FuboTV (NYSE:FUBO), Walt Disney (NYSE:DIS), Fox Corporation (NASDAQ:FOX) – A U.S. judge temporarily blocked the launch of Venu Sports, a new sports streaming service backed by Disney, Fox, and Warner Bros Discovery. The decision came after FuboTV alleged antitrust practices by the media giants that could harm competition and inflate prices for consumers. Fubo’s shares jumped 12.4% in pre-market trading.
Goldman Sachs (NYSE:GS) – Goldman Sachs reduced the likelihood of a U.S. recession from 25% to 20% after recent data showed a decline in unemployment claims and an increase in retail sales. The reduction reflects the absence of clear recession signals, with expectations of a potential interest rate cut by the Federal Reserve in September.
BHP Group (NYSE:BHP) – The union at BHP’s Escondida mine in Chile ended a strike after agreeing to a three-year contract with BHP. The agreement includes improved working conditions and bonuses of up to $32,000 per worker. The strike, which threatened global copper supply, was suspended after successful negotiations. Shares rose 0.9% in pre-market trading.
Apple (NASDAQ:AAPL), Qualcomm (NASDAQ:QCOM) – Apple’s decision to develop its own modem chips instead of using Qualcomm’s may not yield immediate benefits but sets the stage for future innovations, according to Bloomberg. Additionally, Apple is advancing with a desk robot, opening its NFC payment chip to third parties, and facing AI challenges compared to Google. Apple’s shares fell 0.1% in pre-market trading, while Qualcomm’s shares fell 0.9%.
Texas Instruments (NASDAQ:TXN) – Texas Instruments will receive up to $1.6 billion from the U.S. Department of Commerce to build two factories in Texas and one in Utah. The funding, part of the CHIPS Act, aims to increase domestic semiconductor production and create 2,000 jobs, strengthening national chip capacity.
Foxconn (USOTC:FXCOF) – Foxconn Chairman Young Liu defended the company’s hiring practices after allegations of discrimination against married women. Liu stated that Foxconn employs women regardless of marital status, and they are a significant part of the workforce. The company is under investigation in New Delhi.
Nokia (NYSE:NOK), TIM SA – Nokia will supply equipment to expand TIM Brasil’s 5G network in 15 states starting in January 2025. The deal aims to offer fast and secure connectivity, helping businesses digitize operations and boost economic growth. Financial details were not disclosed. Nokia’s shares rose 1.0% in pre-market trading.
Ericsson AB (NASDAQ:ERIC) – Ericsson will sell its U.S. call routing unit, Iconectiv, for $1 billion to Koch Equity Development. The transaction, expected in the first half of 2025, will result in a one-time gain of approximately $870 million for Ericsson. The sale is part of Ericsson’s efforts to cut costs and improve margins in a challenging market. Shares fell 0.1% in pre-market trading.
Warner Bros Discovery (NASDAQ:WBD) – S&P downgraded Warner Bros Discovery’s outlook to “negative” due to declining cable TV business and potential losses of NBA broadcast rights. The company faces challenges with consumer migration to streaming and needs to address high debt and asset reductions. Shares fell 0.1% in pre-market trading.
Paramount Global (NASDAQ:PARA) – Edgar Bronfman Jr. is preparing an offer for National Amusements, the controlling shareholder of Paramount Global. This follows Paramount’s agreement to merge with Skydance Media. If Paramount finds another acceptable buyer by August 21, the merger plan could change. National Amusements controls major media companies, including Paramount. Shares fell 0.5% in pre-market trading.
Amazon.com (NASDAQ:AMZN) – Amazon is facing challenges with its Prime Air drone service in College Station, Texas, due to constant noise and low flight altitude. According to CNBC, local residents and officials are concerned about the impact of these drones on the environment, prompting Amazon to consider reducing the number of flights or relocating its operations to a less residential area. The company is also developing a new drone model, the MK30, designed to be quieter. Additionally, Amazon warned Flex drivers that payments from last Thursday could be delayed due to a “technical issue,” according to Reuters. The company did not provide details about the cause or the new payment date, causing concern among drivers who usually receive payments quickly after deliveries. Shares are stable in pre-market trading.
Meta Platforms (NASDAQ:META) – TikTok claims that a bill that could ban it from the U.S. violates First Amendment protections, comparing itself to foreign-owned media companies. The Department of Justice disputes this, arguing that the protection does not apply to a foreign app. If TikTok is banned, Meta, which is already trying to attract content creators to Instagram Reels, could benefit from the increase in users. Shares fell 0.4% in pre-market trading.
CrowdStrike (NASDAQ:CRWD), Palo Alto Networks (NASDAQ:PANW) – The impact of CrowdStrike’s crisis could affect the cybersecurity sector. Investors are watching Palo Alto Networks’ financial results closely, particularly to see if it can attract clients negatively impacted by CrowdStrike’s failure. Palo Alto is expected to report modest growth as analysts monitor its platform strategy and customer response. CrowdStrike’s shares fell 0.4% in pre-market trading, while Palo Alto’s shares fell 0.2%.
Trump Media & Technology Group (NASDAQ:DJT) – Trump Media & Technology Group, the parent company of Truth Social, has faced a continued decline in its stock, with losses of 12.6% over seven days, marking the longest streak of weekly losses since its merger with Digital World Acquisition in March. Political uncertainty and poor financial performance are putting pressure on the stock. Shares rose 0.4% in pre-market trading.
Nike (NYSE:NKE) – After a weak sales forecast in June, Nike’s shares rose 11.5% last week, outperforming the S&P 500. The increase was driven by strong results from other companies and a new $229 million position from Pershing Square. The rise also reflected a shift in the executive team, with Nike still 23% below its year-start level. Shares are stable in pre-market trading.
Starbucks (NASDAQ:SBUX) – Balmuccino, a developer of coffee-flavored lip balms, has sued Starbucks for the third time, claiming that the coffee chain copied its concept for coffee-flavored lipstick and gloss. The Los Angeles-based company alleges it presented prototypes to Starbucks in 2018 and accuses the chain of launching similar products in 2019 without compensation. The current lawsuit was filed after a previous one was dismissed on procedural grounds. Shares fell 0.3% in pre-market trading.
Diageo (NYSE:DEO) – Diageo is under investigation in India for billing and discounting practices related to the sale of alcoholic beverages to municipal agencies. The Delhi Anti-Corruption Police has requested financial documents and summoned Hina Nagarajan, CEO of the Indian unit, to testify. The company has provided the requested documents and is cooperating with the investigation.
Kroger (NYSE:KR) – Kroger is considering issuing new bonds and a debt exchange offer from Albertsons while facing antitrust challenges to its $24.6 billion merger. The company has initiated investor calls with Citigroup and Wells Fargo to explore this possibility. The deal’s completion remains uncertain due to ongoing legal proceedings.
Tempur Sealy International (NYSE:TPX) – Tempur Sealy International is seeking to acquire Mattress Firm for $4 billion to “eliminate future competition,” according to revealed documents. The proposal, which aims to integrate more than 2,300 Mattress Firm stores, faces resistance from the FTC due to concerns about competition, prices, and jobs.
Boeing (NYSE:BA), Lockheed Martin (NYSE:LMT) – Boeing and Lockheed Martin are negotiating the sale of their space launch joint venture, United Launch Alliance (ULA), to Sierra Space. Valued between $2 billion and $3 billion, the sale would represent a significant shift in the U.S. space industry, separating ULA from large defense contractors to a smaller, private company. Sierra Space could use ULA to advance its own space projects. After years of monopoly, United Launch Alliance (ULA) faces growing competition from SpaceX and Blue Origin. ULA is experiencing financial and operational difficulties, with delays and the loss of engineers to competitors. The company needs to accelerate production and launches to maintain its relevance in the space sector while dealing with internal and external challenges. Boeing’s shares rose 0.2% in pre-market trading, while Lockheed’s shares fell 0.4%.
Tesla (NASDAQ:TSLA) – X, Elon Musk’s media platform and also the CEO of Tesla, announced the immediate suspension of its operations in Brazil. The decision was prompted by censorship orders from Judge Alexandre de Moraes, who, according to the company, threatened to imprison a representative if the platform did not remove certain content. The Supreme Federal Court (STF) did not confirm the authenticity of the orders. Tesla’s shares fell 1.3% in pre-market trading.
Ford Motor (NYSE:F) – Ford is recalling 85,000 Explorer SUVs with the Police Interceptor package due to engine fire risks, according to the National Highway Traffic Safety Administration. If the engine fails, oil and fuel could leak and accumulate near ignition sources, potentially causing fires. The recall affects 2020-2022 models with hybrid and gasoline engines. Shares fell 0.1% in pre-market trading.
Rivian Automotive (NASDAQ:RIVN), Amazon (NASDAQ:AMZN) – Rivian temporarily halted production of its delivery vans for Amazon due to a parts shortage. The company is facing ongoing supply chain challenges but expects to recover lost production. Other models were not affected. Rivian’s shares fell 0.1% in pre-market trading.
Zeekr (NYSE:ZK) – The Chinese electric vehicle manufacturer revealed a battery that charges from 10% to 80% in less than 11 minutes with an 800-volt architecture. This innovation could accelerate the adoption of electric vehicles, addressing concerns about recharge time and costs, and improving competitiveness against rivals like Tesla. Shares rose 0.7% in pre-market trading.
Canadian National Railway (NYSE:CNI), Canadian Pacific Kansas City (TSX:CP) – Major Canadian railways, Canadian National Railway and Canadian Pacific Kansas City, face the risk of simultaneous strikes due to failed labor negotiations. Both companies have expired labor agreements, and the truckers’ union may call a strike, or the government may intervene with arbitration or back-to-work legislation.
JPMorgan Chase (NYSE:JPM) – Investors like JPMorgan and M&G are increasing their holdings in emerging market bonds after a drop in riskier assets. They believe that bonds from developing countries like Ukraine and Ecuador could offer significant returns. Despite some fears of a potential U.S. recession, many are betting on high yields due to possible continued Federal Reserve easing.
UBS Group AG (NYSE:UBS) – UBS Asset Management will sell its Quantitative Investment Strategies (QIS) segment to Manteio Partners. The QIS team, managing about $1.5 billion in funds, will be transferred and operate independently under Manteio. The transaction is expected to close in the fourth quarter. Shares fell 0.1% in pre-market trading.
Deutsche Bank (NYSE:DB) – Deutsche Bank offered a settlement to shareholders who sued the bank for underpaying in the acquisition of Postbank, but the offer was deemed too low by the plaintiffs. The shareholders’ attorney called the proposal “inadequate” and said it falls far short of the total claims. Shares rose 0.3% in pre-market trading.
Jefferies Financial Group (NYSE:JEF), Rubicon Technologies (NYSE:RBT) – Jefferies Financial Group sued Rubicon Technologies, claiming it received restricted stock worth only $40,000 instead of the promised $7 million. Rubicon allegedly failed to meet the payment agreement in cash or tradable shares. Rubicon’s shares plummeted following the merger.
EQT AB (NYSE:EQT), PropertyGuru Group Ltd. (NYSE:PGRU) – EQT agreed to acquire PropertyGuru for $1.1 billion in an all-cash deal, valuing each share at $6.70, a 52% premium over the previous price. The transaction, expected to close by early 2025, will make PropertyGuru a private company.
Moody’s Ratings (NYSE:MCO), Morgan Stanley (NYSE:MS), Wells Fargo (NYSE:WFC) – Moody’s warned that investigations into money-sweeping programs could negatively impact the credit ratings of large wealth managers like Morgan Stanley and Wells Fargo. This impact could increase costs and reduce profit margins, especially for companies with less diversified business models. Moody’s shares fell 0.1% in pre-market trading.
Mastercard (NYSE:MA) – Mastercard is reducing its global workforce by 3%, affecting about 1,000 people, to better focus on core activities. The restructuring will include a one-time charge of $190 million and the reallocation of resources to expansion and growth areas such as cybersecurity and anti-fraud.