Salesforce (NYSE:CRM) – Salesforce announced the purchase of Own Company for $1.9 billion to strengthen its data privacy and security solutions. The acquisition aims to meet the growing demand for customer protection against data loss. Salesforce expects the transaction to drive growth starting from the second year after completion, slated for the fourth quarter of 2025. Shares dropped 0.7% in premarket trading, after closing down 0.6% on Thursday.
Qualcomm (NASDAQ:QCOM), Intel (NASDAQ:INTC) – Qualcomm is exploring the possibility of acquiring parts of Intel, especially the PC design business, to strengthen its product portfolio. Intel, facing financial difficulties, is considering selling assets. However, Qualcomm has yet to initiate formal discussions, and negotiations may change. Qualcomm shares fell 1.3% in premarket trading, after closing down 1% on Thursday. Intel shares rose 0.5% in premarket trading.
Mobileye (NASDAQ:MBLY) – Intel is considering selling part of its 88% stake in Mobileye, which is facing financial challenges. The company is also evaluating options for its networking unit, whose revenue has drastically fallen. These actions are part of a strategic restructuring to address financial issues and improve performance. Mobileye shares fell 3.7% in premarket trading, after closing down 7.4% on Thursday.
Alphabet (NASDAQ:GOOGL) – YouTube terminated the Tenet Media channel and four other channels operated by Lauren Chen, a political and cultural content creator, following allegations from the U.S. Department of Justice. RT employees, formerly known as Russia Today, are accused of using shell companies to pay $10 million to an American company to produce content aimed at influencing the 2024 presidential election. Shares dropped 0.7% in premarket trading, after closing up 0.5% on Thursday.
Apple (NASDAQ:AAPL) – Apple will hold the iPhone 16 launch event, titled “It’s Glowtime,” on September 9. Investors expect updates on generative AI and potential price increases that may influence shares. Historically, shares tend to drop on the day of the event but rise later. This year, a compelling presentation could drive performance beyond past trends. Additionally, Apple approved a WeChat update before the launch, enabling new features and deferring speculation about a ban. The dispute between Apple and Tencent over app fees continues, with Apple demanding that Tencent block external payments in mini-games to ensure its commission. Tencent is still negotiating to reach an agreement. Shares fell 0.5% in premarket trading, after closing up 0.7% on Thursday.
Nvidia (NASDAQ:NVDA) – Nvidia CEO Jensen Huang sold 5.3 million shares, totaling $633.1 million, between June and September, as part of a plan to sell up to 6 million shares by March 2025. Huang is Nvidia’s largest individual shareholder, with his personal fortune growing to $94.2 billion. Shares dropped 2.4% in premarket trading, after closing up 0.9% on Thursday.
ASML (NASDAQ:ASML) – The Dutch government will now require ASML to apply for licenses to export its older DUV lithography systems to China, instead of the U.S. ASML, already banned from shipping its most advanced machines to China, said it does not expect a significant financial impact from the change. Shares dropped 1.1% in premarket trading, after closing down 2% on Thursday.
Adobe (NASDAQ:ADBE) – Adobe’s chief counsel Dana Rao, who led the company’s AI strategy and its attempt to acquire Figma, is stepping down. Rao was central to Adobe’s approach to generative AI and the Content Authenticity Initiative. Gloria Chen will temporarily lead the legal organization. Shares dropped 0.7% in premarket trading, after closing down 1.3% on Thursday.
Amazon (NASDAQ:AMZN) – Amazon sued the U.S. labor board, claiming it interfered illegally in the union election at a New York warehouse and that its structure violates the U.S. Constitution. The lawsuit seeks to block the board’s decision that could force Amazon to negotiate with the union. Amazon also criticizes the board’s structure, which combines prosecutor, judge, and jury functions. Additionally, Amazon aims to help Indian exporters sell $5 billion in low-value items this year, nearly double that of 2023. The initiative targets 150,000 small exporters using Amazon’s platform to reach international markets, with a goal of $13 billion in exports by 2024. Shares fell 1.7% in premarket trading, after closing up 2.6% on Thursday.
Paramount Global (NASDAQ:PARA) – Paramount Global chairwoman Shari Redstone will receive $180 million in severance and other benefits, along with approximately $350 million from selling her stake in National Amusements to Skydance Media. David Ellison’s Skydance will acquire Paramount in a complex $4.5 billion deal, with Larry Ellison taking majority control.
Walt Disney (NYSE:DIS) – Walt Disney’s leaked online data includes financial, strategic, and personal employee and customer information. The exposed data includes passport numbers, visa details, and contact information of Disney Cruise Line passengers. The company is investigating the unauthorized disclosure, which also includes Slack messages.
Dish Network (NASDAQ:DISH) – Dish Network, with over $20 billion in debt, is negotiating with creditors to resolve a lawsuit over asset transfers. Discussions include a potential extension of a $2 billion bond. Creditors want to reverse transfers made by Dish to protect assets from bondholders.
Newsmax – The conservative news channel Newsmax confidentially filed for an IPO in the U.S., seeking to raise up to $75 million by late 2024 or early 2025. The company is also conducting a private placement to raise up to $225 million. Founded in 1998 and headquartered in Florida, Newsmax expects $180.5 million in revenue in 2024.
Verizon (NYSE:VZ), Frontier Communications (NASDAQ:FYBR) – Verizon, which will acquire Frontier Communications for $9.59 billion, will focus on debt reduction during the deal’s closing, expected within 18 months. Verizon expects its debt ratio to rise post-transaction but plans to refinance Frontier’s debt and maintain manageable leverage. The acquisition aims to expand Verizon’s subscriber base and improve competitiveness against AT&T and T-Mobile. Verizon will pay $38.50 per share, a 37.3% premium. Shares rose 0.9% in premarket trading, after closing down 0.4% on Thursday.
AT&T (NYSE:T) – AT&T submitted its final offer to the Communications Workers of America union, but it did not meet expectations. The union criticized the proposal, particularly for increasing healthcare costs for employees. Over 17,000 AT&T workers are on strike, demanding better conditions and compensation. AT&T stated the offer includes wage increases and higher health contributions. Shares dropped 0.4% in premarket trading, after closing up 0.4% on Thursday.
Snap Inc. (NYSE:SNAP) – The state of New Mexico sued Snap Inc., claiming that Snapchat facilitates the spread of child sexual exploitation material. Attorney General Raul Torrez said the platform is used for sexual blackmail, and Snapchat, known for temporary messages, fails to adequately protect minors. Snap is reviewing the accusation. Shares dropped 0.2% in premarket trading, after closing up 0.9% on Thursday.
US Steel (NYSE:X) – The U.S. government, through the Committee on Foreign Investment in the United States (CFIUS), expressed national security concerns over Nippon Steel’s proposed acquisition of US Steel. The committee cited risks to domestic steel production and vulnerability to Chinese competition. Despite this, Nippon promised to maintain U.S. investments and jobs, aiming to ease concerns. Cleveland-Cliffs CEO Lourenco Goncalves expressed interest in acquiring US Steel’s assets if Nippon’s bid fails. Goncalves confirmed he is working with JPMorgan and Wells Fargo on a potential offer. Shares rose 2.6% in premarket trading, after closing up 2% on Thursday.
Weyerhaeuser (NYSE:WY) – Weyerhaeuser shares recently hit a near four-year low. Director Al Monaco purchased shares of the company at $31.38 each, increasing his stake to 70,726 shares. Despite low earnings expectations, a BMO analyst believes the balance sheet is solid and maintains a “Market Perform” rating with a $38 price target.
Marathon Petroleum (NYSE:MPC) – Marathon Petroleum refuses to negotiate with striking workers at its Detroit refinery, where over 200 employees have walked off following wage and safety negotiation impasses. The Teamsters union warns the strike could expand to other Marathon refineries if talks do not advance.
Honeywell (NASDAQ:HON) – Honeywell announced that Mike Stepniak will be the new CFO, replacing Greg Lewis, who will leave after the 2024 earnings report. Stepniak, currently CFO of Honeywell Aerospace, has been praised by CEO Vimal Kapur for his growth track record in various sectors. Lewis will take on a new role as Senior VP and advisor to the CEO. Shares dropped 0.3% in premarket trading, after closing down 1.3% on Thursday.
Ford Motor (NYSE:F) – In August, Ford saw a 13.4% increase in U.S. vehicle sales, totaling 182,985 units, driven by high demand for SUVs and pickups. Electric vehicle sales grew 28.9%, and hybrid sales nearly 50%. Overall, the U.S. new vehicle market reached about 15.13 million units. Shares dropped 0.5% in premarket trading, after closing down 1.6% on Thursday.
Toyota Motor (NYSE:TM) – Japan announced it would provide up to $2.4 billion in subsidies for electric vehicle battery production, supporting 12 projects, including initiatives from Toyota, Nissan, and Panasonic. The goal is to expand Japan’s battery production capacity by 50% by 2026 and strengthen the supply chain. According to Nikkei, Toyota Motor will reduce its global electric vehicle production target in 2026 to about 1 million units, down from the initial 1.5 million target. Shares dropped 1.5% in premarket trading, after closing down 1% on Thursday.
Stellantis (NYSE:STLA) – Stellantis will invest $385 million in its Córdoba, Argentina, plant from 2025 to 2030, as part of a $6.22 billion plan for South America. The investment aims to develop a new line of vehicles and engines. Stellantis also plans to launch hybrid-flex vehicles in Brazil later this year. Shares rose 0.3% in premarket trading, after closing down 1.6% on Thursday.
General Motors (NYSE:GM) – General Motors announced the addition of Alfred Kelly Jr., former Visa CEO, to its board of directors. Kelly, who led Visa from 2016 to 2023, brings financial and technology expertise. His addition increases GM’s independent directors to 12 out of a total of 13 members. Shares dropped 0.7% in premarket trading, after closing down 0.6% on Thursday.
Tesla (NASDAQ:TSLA) – Elon Musk may face more responsibilities if Donald Trump wins the election, with Trump considering Musk to lead a government efficiency commission. While this might concern Tesla investors due to possible distractions, Musk has already stated he does not need payment or recognition for the role. Shares dropped 0.5% in premarket trading, after closing up 4.9% on Thursday.
AST SpaceMobile (NASDAQ:ASTS) – AST SpaceMobile shares closed down 14% on Thursday after the company announced an offering of up to $400 million in shares. This is the biggest drop since April and follows a recent 12.5% increase due to the launch of its first commercial satellites. Shares dropped 1.5% in premarket trading.
Delta Air Lines (NYSE:DAL), American Airlines Group (NASDAQ:AAL), United Airlines Holdings (NASDAQ:UAL), Southwest Airlines (NYSE:LUV) – The U.S. Department of Transportation is investigating the rewards programs of these four U.S. airlines. The carriers must report how changes to the programs affect consumers, including point devaluation and hidden fees. The investigation seeks to understand the rewards’ impact and potential unfair practices.
JetBlue Airways (NASDAQ:JBLU) – JetBlue investor Vladimir Galkin, with a 9.98% stake, met with company executives to discuss a potential board seat. Galkin, the third-largest shareholder of JetBlue, has yet to decide whether he wants to be a director but expressed interest in closely monitoring his investment. The company is recovering after regulatory blockages. Shares rose 2.8% in premarket trading, after closing up 7.2% on Thursday.
FedEx (NYSE:FDX) – FedEx invested in robotics company Nimble to improve its fulfillment unit, focusing on automating logistics processes. This move aims to reduce costs and increase efficiency, especially during a period of low freight demand. The investment will help expand FedEx’s e-commerce presence and optimize its North American supply chain.
Costco Wholesale (NASDAQ:COST) – Costco reported a 7.1% increase in August sales, continuing its positive growth in the fourth fiscal quarter, with total sales reaching $78.2 billion. Same-store sales rose 5% in August and 5.4% for the quarter. Online sales also grew. Despite high food prices, Costco has performed well, with shares up 34.3% in 2024. Recently, Costco raised membership fees to offer better pricing to consumers. The fourth-quarter earnings release is scheduled for September 26.
Hershey (NYSE:HSY) – Hershey has asked a U.S. judge to dismiss a lawsuit alleging the company misled consumers about Reese’s candy design. The company argues that images on packaging are merely decorative suggestions and not guarantees of the product. The lawsuit seeks $5 million in damages, with plaintiffs claiming the candies did not match Halloween and Christmas imagery.
WK Kellogg Co. (NYSE:KLG) – WK Kellogg executives discussed strategies to focus solely on core cereals, such as Frosted Flakes and Raisin Bran, following the separation from Kellanova. Despite a less optimistic sales outlook and challenges with the Special K brand, the company plans to improve production and innovation to increase margins. Shares rose 10% on Thursday.
Vestis (NYSE:VSTS) – French office supply provider Elis SA made an offer to acquire Vestis, the former uniform rental division of Aramark, valued at around $3.3 billion. The negotiations are confidential, and Vestis has not yet confirmed whether it will accept the offer. Shares rose 11.8% on Thursday.
Nike (NYSE:NKE) – Investors are pressuring Nike to improve working conditions in its factories, with Norway’s sovereign wealth fund supporting a resolution for this. Nike faces criticism over its supply chain and a negative ESG rating. The resolution calls for binding agreements with workers to address persistent abuses. Shares dropped 0.5% in premarket trading, after closing down 0.2% on Thursday.
Marriott International (NASDAQ:MAR) – Marriott International reported that the booking window in Greater China has fallen below three days, the shortest ever recorded. CEO Anthony Capuano noted that this reduction makes it harder to develop effective pricing strategies and negatively impacts the company’s revenue growth forecast.
Live Nation Entertainment (NYSE:LYV) – Ticketmaster is being investigated in the UK for possible unfair practices in selling tickets for Oasis concerts. Complaints indicate that dynamic pricing raised costs to more than $461, prompting a review of whether this violated consumer protection laws. The investigation is in its early stages and aims to ensure fair treatment of consumers.
Alibaba (NYSE:BABA), Mastercard (NYSE:MA) – Alibaba, in partnership with Mastercard, will launch a credit card in the U.S. for small businesses. The Business Edge Credit Card offers 3% cashback or 60 days interest-free on purchases up to $40,000 on Alibaba.com and carries an annual fee of $199. This initiative aims to build confidence in direct purchases from China and expand Alibaba’s international business. Alibaba shares fell 0.6% in premarket trading, after closing down 0.1% on Thursday.
PayPal (NASDAQ:PYPL) – PayPal is expanding its in-person payments presence in the U.S., integrating its debit card with Apple Wallet and offering 5% cashback. This strategy aims to compete with banks and tech giants, as part of its recovery under new CEO Alex Chriss. Shares fell 1.3% in premarket trading, after closing down 0.8% on Thursday.
Bank of America (NYSE:BAC) – A whistleblower accused Bank of America of sharing non-public information with investors before selling $200 million in shares in India. The bank denied the allegations, stating there is no evidence and that it thoroughly investigates any improper behavior. Shares fell 0.9% in premarket trading, after closing down 0.9% on Thursday.
Deutsche Bank (NYSE:DB) – A former Deutsche Bank employee lost a lawsuit in London seeking a $3.4 million bonus, claiming she helped sell significant bank assets. Deutsche Bank argued there was no formal bonus guarantee and cited financial difficulties, leading the court to dismiss the claim. Shares fell 0.4% in premarket trading, after closing up 4% on Thursday.
JPMorgan Chase (NYSE:JPM) – JPMorgan analysts stated that interest rate cuts might take time to impact investments in cash-like instruments. Even with the recent increase in long-term bond yields, liquidity could remain attractive for months. Historically, significant changes in money market assets occur after a delay of about three months. Additionally, JPMorgan named Andrew Castaldo and Andrew Martin as co-heads of mid-cap M&A. Castaldo, with 25 years of experience, led energy M&A. Martin, joining JPMorgan in late 2024, came from Bank of America.
Goldman Sachs (NYSE:GS) – Presidential candidate Kamala Harris’s proposal to raise the corporate tax rate from 21% to 28% could reduce S&P 500 company profits by around 5%, according to Goldman Sachs analysts. They warned the impact could be larger with additional taxes. Meanwhile, Donald Trump proposed lowering the corporate tax rate to 15% for companies manufacturing in the U.S. and promised to cut regulations and audit the government, an idea backed by Elon Musk. Trump also plans to eliminate trade tariffs and create a sovereign wealth fund to invest in U.S. manufacturing and research.
Berkshire Hathaway (NYSE:BRK.B) – Warren Buffett continued selling Bank of America shares, totaling $6.97 billion since July. Recently, Berkshire Hathaway sold $760 million in shares since Tuesday, according to a regulatory filing on Thursday. Despite the sales, Berkshire still holds 11% of the bank, valued at $34.7 billion. If Buffett continues selling, his stake could drop below 10%, requiring less disclosure. Berkshire shares fell 0.5% in premarket trading, after closing down 2.9% on Thursday.
Blackstone (NYSE:BX) – Blackstone and the Canadian Pension Plan Investment Board are securing a loan of about $3.7 billion to finance the acquisition of AirTrunk, valued at $16.1 billion. The loan, the second-largest in the Asia-Pacific region this year, will be split into a $1.35 billion term loan and a $2.36 billion credit line. More than 10 banks are involved in the financing. Shares fell 0.2% in premarket trading, after closing up 0.3% on Thursday.
Nomura Holdings (NYSE:NMR) – Kevin Connors, who played a key role in expanding Nomura Holdings in emerging markets since 2021, has left the company. He helped hire over 20 traders in various cities and contributed to the firm’s global strategy. Connors’s departure coincides with Nomura’s plans to nearly double its profits by 2031.
Earnings
Broadcom (NASDAQ:AVGO) – The semiconductor and chip technology company exceeded Wall Street’s expectations for the third quarter, reporting an adjusted earnings per share (EPS) of $1.24 and revenue of $13.1 billion. However, its fourth-quarter revenue projection of $14 billion fell below the consensus estimate of $14.04 billion by LSEG. Broadcom reported a net loss of $1.88 billion, attributed to a one-time $4.5 billion tax provision related to intellectual property rights. The company expects to reach $12 billion in AI chip and solution sales in fiscal 2024. Shares dropped 9.5% in premarket trading, after closing down 0.8% on Thursday.
UiPath (NYSE:PATH) – The robotic automation software company exceeded second-quarter expectations, reporting adjusted earnings of 4 cents per share and a 10% revenue increase to $316 million, above the expected $304 million. The company forecasts third-quarter revenue between $345 million and $350 million and annual revenue between $1.42 billion and $1.425 billion. UiPath also approved a share buyback program of up to $500 million. Shares rose 7.9% in premarket trading, after closing up 0.2% on Thursday.
Samsara (NYSE:IOT) – The IoT solutions company for fleets exceeded second-quarter expectations with adjusted earnings of $0.05 per share, above the $0.01 forecast. Revenue came in at $300.2 million, beating the $289.53 million expected. Annual recurring revenue reached $1.264 billion, a 36% year-over-year increase. For the third quarter, the company projects earnings between $0.03 and $0.04 per share and revenue of $309 million to $311 million. Shares rose 3.6% in premarket trading, after closing up 0.2% on Thursday.
DocuSign (NASDAQ:DOCU) – The electronic signature and document management company beat second-quarter expectations with adjusted earnings of $0.97 per share, surpassing the expected $0.81. Revenue reached $736 million, a 7% growth, exceeding the forecasted $727 million. The company projects third-quarter revenue between $743 million and $747 million. DocuSign also launched a new platform for agreement management, leveraging AI. Shares fell 1.6% in premarket trading, after closing down 0.9% on Thursday.
Planet Labs (NYSE:PL) – The satellite imaging and data company posted record revenue of $61.1 million in the second quarter, a 14% year-over-year increase, with GAAP gross margins of 53%. Adjusted EBITDA loss improved to $4.4 million, while the net loss was $38.7 million, including $10.5 million in non-recurring expenses. The company forecasts third-quarter revenue between $61 million and $64 million. Shares fell 12.1% in premarket trading.
Braze (NASDAQ:BRZE) – The customer engagement and marketing company surpassed second-quarter expectations, reporting adjusted earnings of $0.09 per share, better than the forecasted loss of $0.03. Revenue grew by 26.4% to $145.5 million. The company expects earnings for the next quarter to range between break-even and a loss of $0.01 per share, better than estimates, with revenue forecasts between $147.5 million and $148.5 million, in line with consensus.
Quanex Building Products (NYSE:NX) – The building products and windows company reported a 6.4% drop in third-quarter net sales, totaling $280.3 million. Diluted earnings per share fell from $0.96 to $0.77, with adjusted EBITDA margins dropping from 16.2% to 15.0%. The company updated its annual projection, estimating net sales between $1.275 billion and $1.285 billion, following the completion of its acquisition of Tyman.
Smartsheet (NYSE:SMAR) – The collaboration and work management software company exceeded second-quarter expectations with adjusted earnings of $0.44 per share and revenue of $276.4 million, both surpassing forecasts of $0.29 and $274.29 million. Annual recurring revenue increased by 17%, reaching $1.093 billion. Smartsheet projects earnings of $0.29 to $0.31 per share for the next quarter. Along with the strong quarterly results, Smartsheet initiated discussions in July for a possible acquisition by private equity firms. Negotiations have progressed, with Vista Equity and Blackstone involved, and a deal, if successful, could be finalized in the coming weeks, according to Reuters.
Tillys (NYSE:TLYS) – The casual apparel and accessories retailer reported a second-quarter loss of $69,000, or less than 1 cent per share, surpassing expectations of a 6-cent loss. Revenue totaled $162.9 million, slightly below the forecasted $163.8 million. The company projects third-quarter revenue between $140 million and $146 million.
Zumiez (NASDAQ:ZUMZ) – The skate and streetwear apparel retailer reported a second-quarter loss of $847,000, or 4 cents per share, better than the expected 33-cent loss. Revenue reached $210.2 million, surpassing the forecasted $202 million. For the next quarter, the company projects revenue between $221 million and $225 million.