Microsoft (NASDAQ:MSFT), Vodafone (NASDAQ:VOD) – Microsoft announced a new stock buyback program of up to $60 billion and a 10% increase in its quarterly dividend to $0.83. The company plans to hold its annual shareholders’ meeting on December 10. Additionally, Microsoft revealed that Vodafone signed a significant contract to use 68,000 licenses for Copilot AI assistants in Office after tests showed a time-saving of three hours per worker weekly. Microsoft also introduced new AI tools for Excel, Outlook, and Teams aimed at enhancing business productivity. Microsoft shares rose 1.9% in pre-market trading after closing up 0.2% on Monday.
Intel (NASDAQ:INTC) – Intel signed a deal with Amazon’s cloud services division to produce custom AI chips. CEO Pat Gelsinger highlighted cost-cutting efforts and restructuring its foundry operations to increase competitiveness after a disappointing quarterly report. Additionally, Intel’s construction projects in Poland and Germany will be delayed by around two years, although German Chancellor Olaf Scholz assured that Intel remains committed to building factories in eastern Germany. Intel has already qualified for up to $3 billion from the US CHIPS and Science Act program. Shares climbed 6.9% in pre-market trading after closing up 6.4% on Monday.
Amazon (NASDAQ:AMZN) – Amazon CEO Andy Jassy announced changes to improve efficiency, such as eliminating management layers and requiring employees to return to the office five days a week starting in January. The move aims to reduce bureaucracy that hinders quick decision-making. Jassy also plans to increase the proportion of individual contributors by 15% by March 2025 and set up a direct line for reporting inefficient processes. Separately, hundreds of Amazon delivery drivers joined the International Brotherhood of Teamsters, demanding better wages and working conditions. They are calling for Amazon to recognize their union. Amazon shares rose 0.5% in pre-market trading after closing down 0.9% on Monday.
Micron Technology (NASDAQ:MU) – Micron Technology shares fell 4.43% on Monday, signaling a bearish chart pattern for the first time in over two years, suggesting potential accelerated losses. Morgan Stanley expressed pessimism about the memory chip sector, predicting a nearly 30% contraction in valuations as investors worry about a possible profit peak. Shares rose 1.1% in pre-market trading.
Apple (NASDAQ:AAPL) – Apple shares closed down 2.78% on Monday after analysts noted that delivery times for the new iPhone 16 Pro indicate weaker-than-expected demand. The average shipping time is shorter compared to previous models, raising concerns about the lack of AI features in the release. Pre-order sales also saw significant drops. Shares rose 0.2% in pre-market trading.
Affirm Holdings (NASDAQ:AFRM) – Affirm announced on Monday that its “buy now, pay later” payment options are now available to Apple Pay users on iPhones and iPads. This integration offers flexibility and security, allowing users to select customized payment plans. Shares rose 0.5% in pre-market trading after closing up 0.1% on Monday.
Dell Technologies (NYSE:DELL), Super Micro Computer (NASDAQ:SMCI) – Dell received an Outperform rating and a $135 price target from Mizuho. Mizuho also initiated coverage of Super Micro Computer with a Neutral rating and a $450 price target. SMCI shares rose 0.5% in pre-market trading, while Dell shares rose 1.7%.
Alphabet (NASDAQ:GOOGL) – Google reinforced its commitment to hardware, highlighting Pixel devices as showcases for Android. Despite this, sales have never rivaled the iPhone or Galaxy. The company’s AI advantage, exemplified in its Gemini AI suite, is a new bet for differentiation. The Pixel 9 and other devices offer software and hardware integration, but practical limitations remain, such as commands that Google Assistant fails to execute properly, according to Bloomberg. Nevertheless, the new Pixels continue to exemplify the best Android experience with sleek designs and advanced camera functionality. Shares rose 0.5% in pre-market trading after closing up 0.4% on Monday.
Meta Platforms (NASDAQ:META) – EssilorLuxottica, maker of Ray-Ban and Oakley eyewear, announced on Tuesday the extension of its partnership with Meta Platforms to develop smart glasses for the next decade. In other news, Meta announced a ban on RT and other Russian state media, citing deceptive online influence tactics. The ban will be implemented across all Meta platforms in the coming days. Meta shares rose 0.2% in pre-market trading after closing up 1.7% on Monday.
Udemy (NASDAQ:UDMY) – Udemy announced a new round of layoffs as part of its recovery plan, expected to be completed by March. About half of the 280 affected employees will be rehired, mainly in lower-cost regions. The company estimates charges between $16 million and $19 million, recognized from 2024 to 2025. In February 2023, Udemy had already cut 10% of its workforce, ending 2023 with 1,443 employees.
Flutter Entertainment (NYSE:FLUT) – Flutter Entertainment agreed to acquire Playtech’s gaming division, Snaitech, for $2.6 billion, aiming to expand its presence in the Italian market. The deal is expected to close in the second quarter of 2025. With this acquisition, Flutter will control around 30% of the Italian betting market. Shares rose 0.4% in pre-market trading after closing up 1.3% on Monday.
DraftKings (NASDAQ:DKNG) – The Major League Baseball Players Association sued DraftKings and Bet365, alleging unauthorized use of athletes’ images in marketing campaigns, violating Pennsylvania law. The union seeks damages and a cease in image usage, as well as the return of profits.
Tapestry (NYSE:TPR), Capri Holdings (NYSE:CPRI) – Designer Michael Kors explained in court that the luxury handbag market is highly competitive and diverse, with new brands rapidly gaining popularity thanks to social media and influencers. Kors testified that the competition in the handbag market is so intense that he only discovered the Aupen brand after seeing Taylor Swift with one of their bags. Kors noted how social media has made it easier to launch new brands and pointed out that celebrities like Swift and Beyoncé are not paid for such promotions. His testimony came during a hearing about the $8.5 billion merger between Tapestry and Capri Holdings, which faces regulatory opposition for potentially reducing competition in the “accessible luxury” handbag market.
Starbucks (NASDAQ:SBUX) – Michael Conway, CEO of Starbucks North America, announced his retirement after 11 years with the company. The change comes as new CEO Brian Niccol implements a recovery plan and will not fill Conway’s position. Sarah Trilling, head of retail operations, will report directly to Niccol. Conway will serve as a consultant until the end of 2024. Shares rose 0.2% in pre-market trading after closing down 2.3% on Monday.
Chipotle (NYSE:CMG) – Chipotle is testing a bowl-making machine and an avocado-processing robot at some California locations. The technology aims to improve efficiency as the chain seeks to maintain quality customer service. Broader implementation will depend on feedback received. Chipotle also mentioned that the automation is not related to the state’s wage increase. Shares rose 0.03% in pre-market trading after closing up 2.7% on Monday.
Walmart (NYSE:WMT) – The Walton family, heirs to Walmart, reached significant wealth milestones, with Jim and Rob Walton each surpassing $100 billion in net worth, while Alice Walton is close to that figure. Walmart shares have been boosted in 2024 by increased online sales, reflecting growing demand for groceries and consumer products. Shares rose 0.1% in pre-market trading after closing down 0.05% on Monday.
Target (NYSE:TGT) – Target announced plans to hire about 100,000 seasonal workers for the holiday season, maintaining the same level as in the past three years. Despite projected retail sales growth at the slowest pace in six years, the company will focus on offering affordable products to attract inflation-conscious consumers.
Sprouts Farmers Market (NASDAQ:SFM) – Evercore ISI believes Sprouts Farmers Market’s positive trajectory will continue after its shares more than doubled in value this year, driven by growing consumer interest in healthy eating. Following an “outperform” rating upgrade, the stock hit a record high, with a new $120 price target indicating more upside potential. Shares closed up 4.4% on Monday.
Chewy (NYSE:CHWY) – Chewy shares closed up 2.2% on Monday, completing a seven-day winning streak after influential trader Keith Gill, known as Roaring Kitty, made an enigmatic post featuring a dog image. This marks the longest winning streak since June 2019, with the stock closing at $32.67.
Tupperware Brands (NYSE:TUP) – Tupperware Brands is preparing to file for bankruptcy this week after years of failed attempts to revitalize the company in a declining market. The company, which faces over $700 million in debt, violated loan terms and hired financial advisors. Tupperware has struggled in recent years, including closing its only US factory and laying off employees. The brand, known for its storage products, began selling its items in 1946. Shares closed down 57.5% on Monday.
Boeing (NYSE:BA) – According to Reuters, Boeing could lose more than $100 million in daily revenue until it reaches an agreement with its striking union, representing over 30,000 workers. The strike, the first since 2008, could cost Boeing up to $3 billion, putting pressure on its already strained finances. Boeing has frozen hiring and is considering temporary layoffs to cut costs. Additionally, FAA chief Mike Whitaker will testify on September 24 about Boeing’s quality improvement plan, following the plan’s submission in May. Senator Blumenthal emphasized the need to explain FAA oversight and Boeing’s safety culture. Whitaker also prohibited Boeing from increasing production until issues are resolved. Boeing faces growing scrutiny from Congress, especially after a 737 MAX incident. Shares rose 0.3% in pre-market trading after closing down 0.8% on Monday.
Embraer (NYSE:ERJ) – Boeing will pay Embraer $150 million after backing out of merger talks in 2020, concluding a long arbitration process. Embraer’s US-listed shares closed down 4.1% on Monday as the amount was considered below market expectations. Nevertheless, the stock remains up 120% for the year. The dispute arose after Boeing accused Embraer of not meeting conditions for the $4.2 billion deal.
Ryanair Holdings (NASDAQ:RYAAY) – Ryanair estimates that a Boeing strike will delay its aircraft deliveries by six weeks, pushing jets from the first half of 2025 to the end of the year. CEO Michael O’Leary mentioned that up to 10 deliveries could be affected, impacting the carrier’s target of transporting 200 million passengers. Shares rose 0.8% in pre-market trading after closing up 0.2% on Monday.
Stellantis (NYSE:STLA) – The United Auto Workers (UAW) union accused Stellantis of unfair labor practices for not providing information about its product plans and attempting to move Dodge Durango production out of the US. UAW president Shawn Fain criticized the company’s management and highlighted delays in investments. Shares rose 0.9% in pre-market trading after closing up 0.8% on Monday.
Tesla (NASDAQ:TSLA) – Tesla shares closed down 1.52% on Monday, ending a five-day winning streak, as the S&P 500 and Dow Jones rose. The weakness was attributed to a general decline in tech stocks, despite Tesla’s announcement of producing its 100 millionth 4680 battery cell. Investors are looking ahead to the company’s RobotaxiDay on October 10 and the Federal Reserve’s interest rate decision, which could affect vehicle financing. Shares rose 0.6% in pre-market trading.
Mobileye Global (NASDAQ:MBLY) – Mobileye shares rose 4.2% in pre-market trading after closing up 4.7% on Monday, following reports that the Israeli driver-assistance technology company was not mentioned in Intel’s new “transformation” phase. Bloomberg recently reported that Intel is evaluating its 88% stake in Mobileye amid a restructuring of its chip division.
Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX) – Oil companies like Exxon Mobil and Chevron won an appeal from consumers accusing them of conspiring with Donald Trump, Russia, and Saudi Arabia to reduce production and raise prices. The US Ninth Circuit Court of Appeals ruled that the case involved political questions and found no evidence of antitrust violations. Exxon shares rose 0.2% in pre-market trading, while Chevron shares rose 0.3%.
BP Plc (NYSE:BP) – BP Plc plans to sell its US onshore wind energy operation, refocusing on its core business and reducing exposure to renewables. The company will also sell part of its stake in a pipeline to Apollo Global Management for $1 billion, facing financial challenges. BP, which committed to increasing dividends and share buybacks, is now seeking to simplify its portfolio and prioritize its solar arm, Lightsource BP. Shares rose 0.3% in pre-market trading after closing up 1.4% on Monday.
Petrobras (NYSE:PBR) – Petrobras’ five-year business plan, set for release in November, will include realistic investments and may raise the debt ceiling to $65 billion, providing more financial flexibility. The company focuses on expanding oil and gas reserves. Recently, it sold $1 billion in bonds, with strong demand from international markets. Shares rose 0.1% in pre-market trading after closing up 1.7% on Monday.
Equinor (NYSE:EQNR) – Equinor plans to begin production at the Johan Castberg oil field in the Barents Sea later this year after anchoring a production ship on-site. The field has recoverable resources of 450 to 650 million barrels of oil equivalent and is expected to operate for 30 years. Equinor holds 50% of the field, while Var Energi owns 30% and Petoro 20%. Shares fell 0.1% in pre-market trading after closing up 0.4% on Monday.
Berkshire Hathaway (NYSE:BRK.B) – Berkshire Hathaway could reach up to $300 billion in cash by the end of September, driven by stock sales and solid profits, despite a weak buyback quarter. The current cash balance of $277 billion represents over 25% of its market value, while stock buybacks have been drastically reduced. Shares rose 0.3% in pre-market trading after closing up 0.9% on Monday.
Bank of America (NYSE:BAC) – Bank of America hired Johnbull Okpara, former chief accounting officer at Citigroup, as its new head of accounting. Okpara, who will assume the role in December, will work with Rudolf Bless through 2025. He brings over 30 years of experience in governance and financial management, having also worked at Morgan Stanley and American Express. The bank also appointed Jim Rourke and Michael Liu as co-leaders of the “Private Client Partnership Development” initiative, aimed at increasing connectivity between its investment banking and wealth management units. They will be responsible for maximizing opportunities in Global Corporate & Investment Banking, Merrill Wealth Management, and Private Bank. Shares rose 0.3% in pre-market trading after closing up 1.2% on Monday.
Charles Schwab (NYSE:SCHW) – Charles Schwab shares closed up 2.53% on Monday after the company reported a significant increase of $32.8 billion in new net assets in August, despite a decline in bank deposits. Schwab faces challenges with cash sorting, but analysts believe the situation may improve as interest rates ease.
UBS Group AG (NYSE:UBS) – A Swissmem survey of 231 companies in August 2024 revealed that nearly 25% of Swiss industrial companies are dissatisfied with UBS services, particularly in lending, since its acquisition of Credit Suisse in 2023, reflecting concerns about the bank’s dominance. While UBS reiterated its commitment to the market, only 2% said banking services had improved, while 74% reported dissatisfaction with lending terms. Shares rose 0.5% in pre-market trading after closing up 0.7% on Monday.
Citigroup (NYSE:C) – Citigroup appointed Tim Ryan, head of technology, to work with Anand Selva on addressing data management issues. Ashutosh Nawani, head of risk management, will also join the team. The bank faces pressure to improve after being fined $136 million for insufficient progress. Shares closed up 1.3% on Monday.
Barclays (NYSE:BCS) – Barclays hired Morgan Stanley veteran Rob Patterson to lead investment banking coverage in data and information. Patterson will report to Kristin Roth DeClark as Barclays continues to expand its technology and M&A team. In another development, Barclays’ Skylar Montgomery Koning believes stronger sales will shift expectations of rate cuts, boosting the dollar. Montgomery stated that the dollar is set to recover as traders overestimate Federal Reserve rate cuts and underestimate an upcoming retail sales report. Shares rose 1.9% in pre-market trading after closing up 0.9% on Monday.
Blackstone (NYSE:BX), Smartsheet (NYSE:SMAR) – Vista Equity Partners and Blackstone are in advanced talks to acquire Smartsheet, valuing the company at around $8 billion, with a bid of roughly $56 per share, according to Reuters. If successful, the deal will be one of the largest transactions of the year, driven by expectations of Federal Reserve rate cuts. Blackstone shares closed up 2.2% on Monday, while Smartsheet rose 0.9%.
Apollo Global Management (NYSE:APO) – Apollo Global Management’s Scott Kleinman warned that investors are overestimating Federal Reserve rate cuts over the next 12 months. He believes rate cuts will only happen if there is a recession, and that wage and housing inflation will limit reductions, with markets not yet reflecting this scenario.
Rappi – Colombian startup Rappi, backed by SoftBank, could launch an initial public offering on the New York Stock Exchange within 12 months, according to co-founder Simon Borrero. He emphasized that the company is profitable and will take a patient approach in choosing the right time for the IPO. Rappi operates in nine Latin American countries and offers delivery and digital banking services.
BKV Corp. – BKV, a natural gas production unit of Thailand’s Banpu Pcl, seeks to raise up to $315 million in an initial public offering in the US, offering 15 million shares priced between $19 and $21 each. Founded in 2015, the company operates in the Barnett Shale and Northeast Marcellus formations. Banpu, which owns 93% of BKV, will continue to control the majority of voting shares.
Shein – Chinese online clothing company Shein faces challenges in going public in the US, with members of Congress calling on the SEC to block its listing due to concerns over sustainability, labor practices, and ties to China. The Biden administration’s recent proposal to limit tariff benefits for Chinese companies further complicates Shein’s IPO ambitions and underscores the growing skepticism of doing business with China in the current political climate.
Guardian Pharmacy Services – Guardian Pharmacy Services announced a valuation of up to $973.5 million for its initial public offering in the US, planning to list on the New York Stock Exchange as “GRDN.” The pharmaceutical services company aims to raise up to $108 million by selling 6.75 million shares priced between $14 and $16 each.
Johnson & Johnson (NYSE:JNJ) – An Oregon judge overturned a $260 million verdict against Johnson & Johnson in a mesothelioma case linked to the use of talc. Judge Katharine von ter Stegge granted the company’s request for a new trial, while the plaintiff, Kyung Lee, plans to appeal. J&J faces over 62,000 asbestos-related claims tied to its products.