Intel (NASDAQ:INTC) – Intel secured up to $3.5 billion in federal subsidies to manufacture semiconductors for the U.S. Department of Defense. This information was disclosed by Bloomberg News after the company signed a binding agreement with U.S. authorities. Shares rose 3.7% in pre-market trading after closing up 1.6% on Friday.
Stellantis NV (NYSE:STLA) – Stellantis NV, Europe’s second-largest automaker, opposes delaying the European Union’s new emissions targets set to take effect next year. CEO Carlos Tavares stated it would be unfair to change the rules now, as the company is prepared to meet the regulations. Shares rose 1.2% in pre-market trading after closing up 0.5% on Friday.
Apollo Global Management (NYSE:APO), BP plc (NYSE:BP) – Apollo Global Management closed a $1 billion deal with BP to finance its 20% stake in the Trans Adriatic Pipeline. Apollo will acquire a minority interest in BP’s subsidiary owning the pipeline, allowing BP to retain control. The deal, expected in Q4, will aid BP’s divestment plan for 2024. BP shares rose 0.7% in pre-market trading after closing up 0.8% on Friday.
Oracle (NYSE:ORCL) – Oracle surprised the industry by announcing plans for a giant nuclear-powered data center, capable of consuming more energy than 300,000 homes. Larry Ellison revealed the company’s intent to use small nuclear reactors to power the facility. The news excited the nuclear industry, despite the lack of project details and partners. Shares fell 0.1% in pre-market trading after closing up 0.4% on Friday.
Amazon (NASDAQ:AMZN), Walmart (NYSE:WMT) – Samsung, Xiaomi, and other smartphone manufacturers were accused of colluding with Amazon and Walmart’s Flipkart to launch products exclusively on their platforms, violating antitrust laws in India. The Competition Commission of India found evidence that these practices harmed competition and demanded changes in the involved companies’ business practices. Amazon shares rose 0.1% in pre-market trading, while Walmart shares dropped 0.1%.
Walt Disney (NYSE:DIS) – Walt Disney and DirecTV announced a deal restoring access to channels like ABC and ESPN for over 11 million DirecTV subscribers after a dispute had interrupted service. The agreement includes new package options and Disney’s streaming services. Additionally, DirecTV will have distribution rights for ESPN’s streaming version. Disney also won the 2024 Emmy Award for Best Drama for Shogun, which set a record with 18 awards. Shares rose 0.5% in pre-market trading after closing up 1.4% on Friday.
Netflix (NASDAQ:NFLX) – Netflix is negotiating to broadcast live versions of the popular talk show “Hot Ones,” produced by BuzzFeed. The plan includes live episodes with host Sean Evans to attract more viewers and expand the platform’s live programming, which now features sports and wrestling. Shares rose 0.1% in pre-market trading after closing up 1.5% on Friday.
EchoStar (NASDAQ:SATS), AT&T (NYSE:T) – AT&T and its joint venture TPG are in early talks to merge DirecTV with Dish’s EchoStar. The merger would create the largest U.S. pay-TV provider with 16 million subscribers. The deal would face antitrust scrutiny but may overcome hurdles due to increasing competition. AT&T shares rose 0.1% in pre-market trading after closing up 0.2% on Friday.
Trump Media & Technology Group (NASDAQ:DJT) – On Friday, Donald Trump stated he would not sell his shares in Trump Media & Technology Group, causing the stock to surge 30% before closing with an 11.8% gain. Trump owns 57% of the company, and the rally reflects a recovery after recent losses. Shares rose 3.5% in pre-market trading.
Delta Air Lines (NYSE:DAL) – Delta Air Lines asked the U.S. Department of Transportation to delay the resumption of four daily flights to China due to market difficulties. The airline already operates flights to Shanghai from Seattle and Detroit but seeks to postpone two daily flights to Shanghai and two to Beijing. Shares rose 0.2% in pre-market trading after closing up 2.1% on Friday.
United Airlines (NASDAQ:UAL) – United Airlines signed an agreement with Starlink to provide in-flight internet on its aircraft. Starlink, part of SpaceX, already has contracts with other airlines. United plans to begin testing in 2025 and will offer the service for free on over 1,000 aircraft. Shares rose 0.6% in pre-market trading after closing up 1.2% on Friday.
Boeing (NYSE:BA) – A strike at Boeing may extend as workers seek higher wages and better retirement benefits. Over 30,000 union members rejected an initial contract, prioritizing wage increases and pension restoration. Boeing and the union will resume negotiations next week. Shares rose 0.5% in pre-market trading after closing down 3.7% on Friday.
Ryanair (NASDAQ:RYAAY) – Ryanair’s CEO, Michael O’Leary, warned that a prolonged Boeing strike could reduce aircraft deliveries from 25 to 20 by next summer. The low-cost airline was set to receive 30 737 MAX planes by 2025, but production issues and the strike have affected these numbers.
Uber Technologies (NYSE:UBER) – Uber announced an expansion of its partnership with Alphabet to include autonomous transportation services from Waymo in Austin and Atlanta next year. Uber will continue integrating electric autonomous vehicles into its fleet. Additionally, Uber recently lost a legal appeal in New Zealand, where four drivers were classified as employees rather than contractors, leading to changes in New Zealand’s labor laws. Shares rose 0.2% in pre-market trading after closing up 6.5% on Friday.
US Steel (NYSE:X) – A U.S. national security panel is reviewing Nippon Steel’s $14.9 billion offer for US Steel. The Committee on Foreign Investment in the U.S. (CFIUS) will decide by September 23 whether to recommend approving or blocking the deal. The decision is politically sensitive, with opposition from figures like Biden and Trump. Nippon Steel and US Steel sent a letter to President Joe Biden addressing national security concerns that could prompt Biden to block the deal.
Alcoa (NYSE:AA) – Alcoa will sell a 25.1% stake in its Ma’aden joint venture to Saudi miner Ma’aden for $1.1 billion. The transaction includes 86 million shares and $150 million in cash, aiming to simplify Alcoa’s portfolio and increase financial flexibility.
Archer-Daniels-Midland (NYSE:ADM) – The U.S. Environmental Protection Agency found that Archer-Daniels-Midland violated drinking water rules and its underground injection permit in its Illinois carbon capture project. The company failed to properly monitor the well, and the injected CO2 flowed into unauthorized areas, but ADM claims there was no impact on public health.
HSBC Holdings Plc (NYSE:HSBC) – Georges Elhedery, HSBC’s new CEO, began a major restructuring after two weeks in office. Facing revenue declines due to low interest rates, he aims to cut $2 billion in costs and is considering selling non-essential businesses. Elhedery, who visited Hong Kong shortly after taking office, is evaluating changes to the bank’s structure and executive team, focusing on efficiency and expense reduction. Shares fell 0.5% in pre-market trading after closing up 0.7% on Friday.
Goldman Sachs (NYSE:GS) – According to Goldman Sachs, hedge funds were active in buying shares of financial institutions last week, at the fastest pace since June 2023. Despite maintaining global short positions for nine consecutive weeks, funds focused on long positions in North American and European financial institutions. Goldman noted that funds were more active in buying financial sector stocks while moderately selling consumer finance companies and mortgage-backed securities.
JPMorgan Chase (NYSE:JPM) – JPMorgan Chase has hired Yang Ruo, a former Citigroup banker, to lead its technology, media, and telecommunications team in China. With extensive experience in financial leadership, Yang will help expand the company’s presence in this booming sector. He will report to Asia-Pacific and China leadership and has a track record of success at companies like Xiaohongshu and Fosun.
Citigroup (NYSE:C) – Citigroup agreed to sell its trust services unit to JTC, a financial services firm based in Jersey. JTC will provide fiduciary and curator services, while Citi will continue with investment management and other services. The sale is aimed at helping Citi focus on strategic areas, while JTC expands its global presence. The deal is expected to close by mid-2025. Shares rose 0.5% in pre-market trading after closing up 0.6% on Friday.
Berkshire Hathaway (NYSE:BRK.B), (NYSE:BRK.A) – Berkshire Hathaway’s shares are facing their longest losing streak in over 15 years after a rally that brought its market capitalization to $1 trillion. Recently, Vice Chairman Ajit Jain sold $139 million in Class A shares, sparking speculation about valuation. Additionally, Warren Buffett made an unusual donation of 20 Class B shares, worth about $9,000, to one or two individuals. While Buffett is known for large donations to foundations like the Bill & Melinda Gates Foundation, personal donations of this type are rare. BRK.B shares rose 0.4% in pre-market trading after closing down 0.7% on Friday.
KKR (NYSE:KKR) – German billionaire Mathias Doepfner and KKR have reached a preliminary agreement to split up media giant Axel Springer. KKR is set to gain a majority stake in the company’s profitable classified ad business. The deal values Axel Springer at about $14.95 billion, with over $10.77 billion allocated to the classifieds business. The signing could take months, but an announcement may come in the coming days.
Bain Capital (NYSE:BCSF) – Bain Capital is considering selling British insurer Esure and has hired advisors, including Fenchurch, for the process. Belgian insurer Ageas is interested in the purchase, primarily because it already uses the same technology platform as Esure. The company could be worth at least $1.31 billion.
Icahn Enterprises (NASDAQ:IEP) – Carl Icahn’s Icahn Enterprises won a lawsuit accusing it of inflating its stock prices by paying unsustainably high dividends to secure personal loans. Judge K. Michael Moore ruled that shareholders did not prove material misrepresentations or intent to defraud. The case continues, with a new complaint to be filed by October 14. Shares rose 1.4% in pre-market trading.
Walgreens Boots Alliance (NASDAQ:WBA) – Walgreens Boots Alliance agreed to pay $106.8 million to settle claims of fraudulent billing to the U.S. government for uncollected prescriptions between 2009 and 2020. The company, without admitting guilt, corrected the error and repaid $66.3 million. The settlement ends whistleblower lawsuits in three states. Shares rose 0.7% in pre-market trading after closing up 4.2% on Friday.
Novartis AG (NYSE:NVS) – Novartis’s Kisqali showed progress in treating breast cancer, reducing the recurrence risk by 28.5% after four years of treatment. These data are compared to Eli Lilly’s Verzenio. Kisqali’s approval for early-stage breast cancer in the U.S. is expected in September. Despite a smaller reduction compared to Verzenio, the cancer-free survival rate is higher.