Qualcomm (NASDAQ:QCOM) – Qualcomm, in collaboration with Samsung and Google, is developing mixed-reality glasses that connect to smartphones, offering a lighter, more portable alternative to Apple’s bulky headsets. Qualcomm CEO Cristiano Amon hopes these glasses will provide new experiences and expand the mixed-reality market, which is currently smaller than the smartphone market. Shares rose 0.2% in pre-market after closing 1.3% higher on Wednesday.
Verizon Communications (NYSE:VZ), Frontier Communications Parent (NASDAQ:FYBR) – Verizon will increase its quarterly dividend to 67.75 cents per share, marking its 18th consecutive year of growth. This adjustment raises its dividend yield to 6.53%, reinforcing its position as the highest yield in the Dow Jones Index. The payment will be made on November 1 to shareholders of record by October 10. Verizon is also in advanced talks to acquire rival Frontier Communications. The deal could be announced soon and is expected to be an all-cash transaction. Frontier shares closed 38% higher on Wednesday after the negotiations were disclosed, boosting its market value to $9.3 billion. Frontier specializes in fiber-optic services. Verizon shares rose 0.3% in pre-market after closing 3.4% lower on Wednesday.
Samsonite International SA – Samsonite is preparing for a dual listing in the US to improve liquidity and attract global investors. The company is working with JPMorgan and Morgan Stanley and may consider the US as its primary listing venue. Already traded in Hong Kong, Samsonite aims to expand its international presence.
Alphabet (NASDAQ:GOOGL) – The European Commission will seek feedback next week on Google’s proposals to comply with fair competition rules. The investigation, launched in March, examines whether Google favors its own services in search results, violating the EU’s Digital Markets Act. The company may face charges and fines if it doesn’t meet the requirements. Shares rose 0.4% in pre-market after closing 0.6% lower on Wednesday.
Meta Platforms (NASDAQ:META) – Meta’s Oversight Board ruled that Facebook should not automatically remove the phrase “From the river to the sea” as it may have various meanings and is not necessarily harmful. The phrase is often used in pro-Palestinian protests and has sparked controversy over its interpretations. Shares rose 0.4% in pre-market after closing 0.2% higher on Wednesday.
Microsoft (NASDAQ:MSFT) – The UK regulator approved Microsoft’s acquisition of Inflection AI’s former employees and partnership with the startup, concluding that the deal does not harm competition. Inflection, with a small share of the UK chatbot market, had no significant competitive impact. Shares fell 0.1% in pre-market after closing 0.1% lower on Wednesday.
OpenAI – Safe Superintelligence, co-founded by former OpenAI chief scientist Ilya Sutskever, raised $1 billion to create a safe, advanced AI system. Investors include Andreessen Horowitz and Sequoia Capital. Unlike other companies, Safe Superintelligence focuses exclusively on developing a safe superintelligence without selling short-term products.
Foxconn (USOTC:FXCOF) – In August, Apple’s partner Foxconn reported a 33% revenue increase, hitting a record $17.1 billion, driven by high demand for AI servers. After a decline in smartphone sales, Foxconn saw a significant rise in server sales. Growth is expected to continue, with a recovery in the AI server sector and a rebounding smartphone market.
Nvidia (NASDAQ:NVDA) – Nvidia said it hasn’t received a subpoena from the US Department of Justice but is willing to cooperate, according to Bloomberg. Reports suggest the Department is investigating Nvidia’s business practices, including hardware bundling, its $700 million RunAI acquisition, and market activities. Reuters notes the probe may focus on Nvidia’s dominance in the AI market. Meanwhile, Volvo Cars announced that its future models, starting with the EX90, will use a single software system powered by Nvidia chips. The software will enhance safety and allow remote updates. Shares rose 1.1% in pre-market after closing 1.7% lower on Wednesday.
Intel (NASDAQ:INTC) – Intel suffered a setback in its contract manufacturing division after Broadcom tested its advanced 18A process and found it unsuitable for mass production. This could hinder Intel’s recovery efforts as it seeks to attract major clients for expansion. CFO David Zinsner commented that Intel will start generating significant revenue from its contract chip manufacturing in 2027. The company is negotiating with 12 clients and decided to focus on its 18A manufacturing process. For now, revenue comes from advanced packaging. Shares rose 0.2% in pre-market after closing 3.3% lower on Wednesday.
ASML (NASDAQ:ASML) – ASML CEO Christophe Fouquet said that US restrictions on exports to China have become more about economics than security. He anticipates growing resistance to these restrictions, although the slowdown in China’s chip advances continues. Shares fell 1.3% in pre-market after closing 4% lower on Wednesday.
AeroVironment (NASDAQ:AVAV) – In an interview with CNBC, AeroVironment CEO Wahid Nawabi emphasized that its drones are more affordable and effective than competitors. He highlighted the importance of the company’s drones for Ukrainian forces and mentioned a $1 billion contract with the Department of Defense.
Palo Alto Networks (NASDAQ:PANW), IBM (NYSE:IBM) – Palo Alto Networks acquired IBM’s cloud security assets for $500 million, including QRadar software. Palo Alto plans to integrate these customers into its Cortex XSIAM platform. The deal could boost Palo Alto’s customer base and strengthen its position in the cybersecurity market.
Logitech International SA (NASDAQ:LOGI) – Daniel Borel failed in his attempt to remove Wendy Becker as chair of Logitech. With 86% of shareholders supporting Becker’s re-election, Borel argued the company has failed to adapt to new tech trends. He proposed Guy Gecht as a replacement, but Gecht received only 14% of the vote.
Roblox (NYSE:RBLX) – Roblox is appealing a decision in Turkey that banned its platform over child safety concerns. The ban, initiated in August, was prompted by inappropriate content accessible to children and allegations that adults could interact inappropriately with minors. Roblox is working with authorities to reverse the decision.
Alibaba (NYSE:BABA) – Alibaba will allow WeChat Pay transactions on its Taobao and Tmall platforms, breaking a barrier between competitors after the regulatory crackdown on monopolistic practices. Shares fell 0.5% in pre-market after closing 0.2% higher on Wednesday.
Disney (NYSE:DIS) – The dispute between DirecTV and Disney over fees and programming bundles is shaping the future of pay-TV. DirecTV wants cheaper bundles without ESPN, while Disney defends the traditional structure. The battle may also accelerate the shift to sports streaming.
US Steel (NYSE:X) – The Biden administration informed Nippon Steel on Saturday that its $14.9 billion bid for US Steel could threaten national security by weakening the American steel industry. The Committee on Foreign Investment in the US highlighted concerns about reduced domestic production. The decision is under consideration due to strong political opposition and US Steel’s warnings about job losses and potential headquarters changes. The deal faces opposition from politicians, including Kamala Harris and Donald Trump. Shares rose 2.4% in pre-market after closing 17.5% lower on Wednesday.
Phillips 66 (NYSE:PSX) – Phillips 66 expects a favorable refining market next year, with strong global demand and limited production capacity. High margins and the competitiveness of US refineries should sustain operations despite a projected global refining capacity reduction of 700,000 barrels per day.
General Motors (NYSE:GM) – GM will start producing hybrid-flex vehicles in Brazil, capable of using 100% ethanol or gasoline, along with batteries. Production is scheduled for 2025, as part of a R$7 billion investment. GM also plans to expand its electric vehicle lineup in Brazil. Shares fell 0.1% in pre-market after closing 0.1% higher on Wednesday.
Stellantis (NYSE:STLA) – Stellantis, Jeep’s parent company, announced it will resume production at some US plants after adjusting production levels. The company recently halted the manufacture of Jeep Wrangler and Grand Cherokee SUVs. Operations at the Toledo North, Jefferson, and Mack plants will restart, and Bob Broderdorf was appointed head of Jeep North America. Shares fell 0.4% in pre-market after closing 1.1% higher on Wednesday.
Tesla (NASDAQ:TSLA) – Tesla plans to launch its Full Self-Driving technology in China and Europe in Q1 2025, pending regulatory approval. The company has already made progress in China, securing approval for tests in Shanghai and establishing local partnerships, aiming to maintain its leadership in the EV market. Shares rose 3% in pre-market after closing 4.2% higher on Wednesday.
Norfolk Southern (NYSE:NSC) – Norfolk Southern announced a tentative agreement with the union representing conductors in 22 US states. Nearly 65% of the company’s unionized workforce is now covered by tentative agreements.
Boeing (NYSE:BA) – Acting US Labor Secretary Julie Su urged Boeing and its 30,000 workers to settle their differences and finalize a fair contract ahead of a vote on September 12. If unresolved, workers could strike on September 13. Negotiations still involve issues like job security and wage increases.
Visa (NYSE:V) – Visa is partnering with major UK banks to revamp bank transfer payments, aiming to introduce a formal process for disputing transactions. The initiative seeks to improve security and direct debit experiences, addressing fraud and inflexibility issues in the current system.
JPMorgan Chase & Co. (NYSE:JPM) – JPMorgan downgraded Chinese stocks from “overweight” to “neutral,” citing US election volatility and China’s weak economic growth. The bank warns that a new trade war with the US and internal challenges could negatively affect the market.
Goldman Sachs (NYSE:GS) – Goldman Sachs predicts the US economy will grow more under a Democratic victory led by Kamala Harris, due to increased spending and tax credits. A Republican win, particularly with Donald Trump, would hinder growth with tariffs and strict immigration policies. Goldman also forecasts that AI will reduce shale production costs by 30% over the next decade, potentially lowering oil prices by up to $5 per barrel. While AI will boost oil supply, it will also modestly increase demand, raising prices by $2.
Bank of America (NYSE:BAC) – The US election is becoming a major risk to the global economy, with Bank of America highlighting uncertainty over candidates’ platforms and their potential market impact. Although the election is not yet reflected in market prices, the US economy and Federal Reserve decisions are dominating attention. Shares rose 0.3% in pre-market after closing 0.5% lower on Wednesday.
Citigroup (NYSE:C) – Citi warns that if OPEC+ doesn’t cut production further, oil prices could drop to $60 per barrel by 2025 due to increased supply and weaker demand. Without new cuts, confidence in OPEC+ could erode, leading to even lower prices.
Robinhood Markets (NASDAQ:HOOD) – Robinhood Markets will pay $3.9 million to settle claims that it prevented cryptocurrency withdrawals between 2018 and 2022. The agreement requires the platform to allow withdrawals to personal wallets and improve its trading practices. Shares rose 0.4% in pre-market after closing 1.3% lower on Wednesday.
Blackstone (NYSE:BX) – Blackstone, in partnership with Canada Pension Plan Investment Board (CPP Investments), will acquire Australian data center group AirTrunk for $16.1 billion (A$24 billion). The acquisition, the largest in Australia this year, requires approval from the Australian Foreign Investment Review Board.
AstraZeneca (NASDAQ:AZN) – Five AstraZeneca employees in China were detained for questioning over potential legal violations, including improper patient data collection and importing an unapproved drug. The investigation, led by Shenzhen police, comes amid a crackdown on pharmaceutical smuggling in China. Shares fell 0.4% in pre-market.
Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson plans to pay an additional $1.1 billion to settle lawsuits alleging its talc caused cancer, raising the settlement to over $9 billion. The company is preparing a subsidiary bankruptcy to finalize the settlement while still facing objections from some lawyers. Additionally, J&J must pay $1 billion to Auris Health shareholders for breaching a 2019 agreement. A judge ruled J&J failed to support Auris’ iPlatform technology as promised, hindering milestone achievements and additional payments. The company plans to appeal.
Coca-Cola (NYSE:KO), PepsiCo (NASDAQ:PEP) – Coca-Cola and PepsiCo, after decades of investment in Muslim markets like Egypt and Pakistan, are seeing sales decline due to boycotts against global brands perceived as symbols of the US and Israel. Coca-Cola experienced a sales drop in Egypt, while local brands like V7 and Cola Next are gaining popularity.
Beyond Meat (NASDAQ:BYND) – Beyond Meat is launching a new plant-based product mimicking the texture of muscle steak, aiming to attract health-conscious consumers. CEO Ethan Brown mentioned a partnership with a health-focused restaurant chain, abandoning the previous strategy of partnering with fast-food chains. The company is also reformulating existing products, facing challenges in sales and market conditions. Shares rose 0.2% in pre-market after closing 0.7% lower on Wednesday.
Unilever (NYSE:UL) – Unilever received Russian government approval to sell its assets in Russia, valued at around $400 million. The decision follows criticism for maintaining operations in the country since the start of the Ukraine war. Arnest Group may be the buyer. Shares rose 0.3% in pre-market after closing 0.4% higher on Wednesday.
AMC Entertainment Holdings (NYSE:AMC) – AMC CEO Adam Aron rejected rumors that the company was “suppressing” ticket sales for the film “City of Dreams.” He stated that these claims are false and emphasized that AMC benefits from every ticket sold. The film, which premiered on August 30, addresses human trafficking. Shares rose 0.6% in pre-market after closing 1.5% higher on Wednesday.
Topgolf Callaway (NYSE:MODG) – Topgolf Callaway Brands plans to separate its operations in 2025, potentially splitting Topgolf and Callaway. The decision reflects Topgolf’s struggles to attract customers and the need to better align the business models of both brands. The split could face challenges due to the company’s debt.
Earnings
C3.ai (NYSE:AI) – The scalable enterprise AI company reported a loss of 5 cents per share, better than the projected loss of 13 cents. Revenue was $87.2 million, beating the estimate of $86.9 million. However, the drop in subscription revenue to $73.5 million disappointed investors. Future revenue projections range from $88.6 million to $93.6 million. Shares fell 18.5% in pre-market after closing 1.9% lower on Wednesday.
Hewlett Packard Enterprise (NYSE:HPE) – The corporate IT solutions company posted adjusted earnings of 50 cents per share, beating the estimate of 47 cents. Net income was $512 million. Revenue was $7.7 billion, a 10% increase, in line with analyst expectations. The revenue forecast for the next quarter is between $8.1 billion and $8.4 billion, with adjusted earnings per share between 52 cents and 57 cents, above estimates. Antonio Neri, CEO of Hewlett Packard Enterprise, said it is the company’s “fiduciary duty” to seek compensation against the estate of Mike Lynch after his death last month. Lynch, who faced a $4 billion civil suit for fraud in the sale of his company, was cleared of criminal charges before his death.
ChargePoint (NYSE:CHPT) – The electric vehicle charging infrastructure company reported a loss of 16 cents per share, worse than analysts’ consensus of a 15-cent loss. Quarterly revenue was $109 million, down 27.6%, below the $113.5 million forecast. For the next quarter, the company projects revenue between $85 million and $95 million, while analysts expected $135.9 million. ChargePoint expects to reach positive EBITDA by fiscal 2026. Shares fell 8.9% in pre-market after closing 0.6% lower on Wednesday.
Casey’s (NASDAQ:CASY) – The convenience store chain posted diluted earnings per share of $4.83, a 7% increase, beating analysts’ estimates of $4.58. Revenue reached $4.2 billion, in line with expectations. Net income grew 6% to $180 million. Same-store inside sales increased 2.3%. Operating expenses rose 9% due to store expansion.
Credo (NASDAQ:CRDO) – The high-performance connectivity company reported adjusted earnings per share of 4 cents, in line with expectations. Revenue was $59.7 million, exceeding the $59.48 million consensus and representing 70% year-over-year growth. For the second quarter, the company forecasts revenue between $65 million and $68 million, above analysts’ estimates. Shares fell 13.1% in pre-market after closing 1% lower on Wednesday.
Sprinklr (NYSE:CXM) – The customer experience management company reported adjusted earnings of 6 cents per share, below the 7-cent estimate. Revenue was $197.2 million, beating the $194.51 million forecast. For the third quarter, the company projects revenue between $196 million and $197 million, above expectations. However, its earnings per share forecast for the next quarter of 8 cents fell short of the 12-cent expectation, as did the full-year EPS forecast.
Copart (NASDAQ:CPRT) – The online vehicle auction company reported fourth-quarter revenue of $1.1 billion, a 7.2% increase, with net income of $323 million, down 7.3%. Diluted earnings per share were 33 cents, an 8.3% decrease. For fiscal 2024, revenue grew 9.5% to $4.2 billion, with EPS of $1.40. Shares fell 5% in pre-market after closing 0.9% lower on Wednesday.
AeroVironment (NASDAQ:AVAV) – The drone and defense technology company reported adjusted earnings of 89 cents per share, beating FactSet’s estimate of 62 cents. Revenue grew 24% year-over-year to $189.5 million, surpassing the $183.2 million expectation. However, its annual earnings forecast of $3.18 to $3.49 per share and revenue of up to $820 million disappointed, falling short of the $3.50 per share and $841.5 million forecast.
Verint (NASDAQ:VRNT) – The engagement intelligence company reported second-quarter earnings of $5.5 million, compared to a $6 million loss the previous year. Adjusted earnings per share were 49 cents, below the 53-cent estimate. Revenue remained flat at $210.17 million. The company maintains its full-year EPS forecast of $2.90. Shares fell 14% in pre-market after closing 1% lower on Wednesday.
Concrete Pumping Holdings (NASDAQ:BBCP) – The specialty concrete pumping and materials company reported revenue of $109.6 million, missing estimates of $125.47 million and falling from $120.7 million the previous year. Net income was $7.6 million, with GAAP earnings per share of 13 cents, compared to 18 cents last year. Adjusted EBITDA was $31.6 million, with total debt at $375 million.