Intel (NASDAQ:INTC), Apollo Global Management (NYSE:APO), Qualcomm (NASDAQ:QCOM) – Apollo Global Management has reportedly offered up to $5 billion to invest in Intel, according to Bloomberg. The negotiations are in the early stages and could change or fall apart. In addition, Qualcomm is in preliminary talks to acquire Intel, aiming to reshape the chip sector, but faces significant challenges, with CEO Cristiano Amon evaluating deal options. The proposals come amid Intel’s stock losing almost 60% of its value. According to some experts like Hendi Susanto of Gabelli Funds, acquiring Intel would be financially risky for Qualcomm and wouldn’t resolve its reliance on Taiwan Semiconductor, possibly affecting its margins. In pre-market trading, Intel shares rose 1.9%, while Qualcomm shares dropped 0.2%.
TSMC (NYSE:TSM), Samsung Electronics (USOTC:SSNHZ) – TSMC and Samsung are discussing chip projects in the UAE, funded by Mubadala, with potential investments exceeding $100 billion. TSMC stated no confirmed plans, while Samsung considers new operations, according to the WSJ. TSMC shares fell 0.2% in pre-market trading, after closing 1.2% lower on Friday.
ASML (NASDAQ:ASML) – Morgan Stanley lowered its earnings estimates for ASML, following similar cuts by UBS and Deutsche Bank, due to weakness in the memory chip market and concerns about demand from Intel and Chinese manufacturers. However, Morgan Stanley expects strong performance in 2025, driven by demand for advanced AI-related technologies. ASML shares closed down 4% on Friday but rose 0.1% in pre-market trading Monday.
Constellation Energy (NASDAQ:CEG), Microsoft (NASDAQ:MSFT) – Constellation Energy and Microsoft have signed an agreement to revitalize the Three Mile Island nuclear plant, marking a potential historic restart, according to Reuters. The plant, which was decommissioned in 2019, will supply 835 megawatts of electricity, helping meet Microsoft’s growing data center demands for 20 years. Constellation plans to spend about $1.6 billion on the plant, expected to be operational by 2028. The deal still requires regulatory approvals. Constellation Energy shares rose 0.8% in pre-market trading, after closing 22.3% higher on Friday.
Meta Platforms (NASDAQ:META) – A Kenyan court ruled that Meta, Facebook’s parent company, can be sued over the firing of content moderators after unionization attempts. The ruling reaffirms a previous decision on layoffs and poor working conditions, potentially impacting Meta’s global operations with moderators. In other news, the family of billionaire Eduardo Saverin, Facebook’s co-founder, donated about $15.5 million to the Singapore American School, marking the largest donation in the institution’s history. Superintendent Tom Boasberg noted the gift would have a “transformative” impact, supporting infrastructure and educational programs for current and future students. Shares rose 0.6% in pre-market trading, after closing 0.4% higher on Friday.
Fox Corp. (NASDAQ:FOX) – Fox may avoid a shareholder vote on a proposal requiring differentiated labels for its news and opinion programs, according to the U.S. Securities and Exchange Commission. The decision is a win for the company ahead of its annual meeting and reflects concerns about misinformation in news coverage.
News Corp (NASDAQ:NWS) – REA Group, controlled by News Corp, made a third bid to acquire British company Rightmove, valuing the brokerage at approximately $8.1 billion. The new proposal offers 770 pence per share, a 9.2% increase over the previous offer. Rightmove will consider the bid, but it has already rejected two others, claiming they undervalue its worth and potential.
Trump Media & Technology Group (NASDAQ:DJT) – Shares of Trump Media & Technology Group fell 7.8% on Friday, hitting a new low of $13.50 after the end of a privileged sales lockup. The company, which operates the Truth Social app and is 57% owned by Donald Trump, saw its market capitalization drop to $2.71 billion. Shares rose 1.5% in pre-market trading.
Amazon (NASDAQ:AMZN), Nokia (NYSE:NOK) – Nokia announced that a Munich Regional Court ruled Nokia can block Amazon from selling certain Fire TV Stick products in Germany, accusing Amazon of using Nokia’s patented video technologies without a license. Amazon contested the decision, stating the situation will be resolved soon and expressed dissatisfaction with Nokia’s demands. Both companies are engaged in patent litigation.
Zoom Video Communications (NASDAQ:ZM) – Zoom decided to reduce stock compensation for its employees. CEO Eric Yuan stated that stock dilution has become unsustainable and that the company will adjust its compensation policy, offering more cash bonuses and reducing stock grants. Shares rose 0.5% in pre-market trading, after closing 0.9% higher on Friday.
MicroStrategy (NASDAQ:MSTR) – MicroStrategy raised $1.01 billion by selling convertible senior notes to acquire more Bitcoin and redeem higher-yielding bonds. The company used $458 million to purchase Bitcoin, increasing its total holdings to about 252,220 units, solidifying its position as the largest corporate holder of the cryptocurrency. Shares rose 2.3% in pre-market trading, after closing 0.1% higher on Friday.
Citigroup (NYSE:C) – Citigroup’s plan to expand in China faces delays due to a $136 million fine imposed by the Federal Reserve over data management issues. The bank has yet to receive Fed approval, necessary for obtaining the Chinese license, but remains in talks to establish its business in the country.
Wells Fargo (NYSE:WFC), Tempur Sealy (NYSE:TPX) – A Wells Fargo-led consortium launched a $1.6 billion loan to finance Tempur Sealy International’s acquisition of Mattress Firm. The FTC seeks to block the deal, claiming it could harm competition and raise prices. The loan is one of the largest since 2021, according to Bloomberg.
HSBC (NYSE:HSBC) – HSBC is selling its private banking operations in Germany to BNP Paribas. The deal, involving 120 employees, will close in the second half of 2025, pending approvals. HSBC aims to streamline its operations, while BNP Paribas will strengthen its position in the German market with over €40 billion in assets. Shares rose 0.5% in pre-market trading, after closing 1.2% lower on Friday.
Tesla (NASDAQ:TSLA) – Elon Musk announced on X that SpaceX plans to launch five uncrewed Starship missions to Mars in the next two years. The success of these missions will determine the timeline for crewed missions in four years. If failures occur, the schedule may be delayed by another two years, depending on the challenges faced. Shares rose 1.0% in pre-market trading, after closing 2.3% lower on Friday.
General Motors (NYSE:GM) – General Motors will lay off 1,695 workers at its Fairfax, Kansas plant in two phases by January 2024. According to Reuters, the first phase will take place on November 18 and the second on January 12. GM will invest $390 million to produce the Chevrolet Bolt EV, with production resuming in 2025, resulting in temporary layoffs. In Ontario, Canada, CAMI plant workers approved a two-year contract with GM, with 95.7% voting in favor. The deal includes an immediate 10% wage increase, followed by 2% in September 2025 and 3% in July 2026, along with a 20.25% wage increase for skilled workers. Shares fell 0.4% in pre-market trading, after closing 0.5% higher on Friday.
Stellantis (NYSE:STLA), Ferrari (NYSE:RACE) – An Italian judge seized about $84 million from five people, including John Elkann, in a tax fraud investigation. Prosecutors allege that Elkann and his siblings failed to pay taxes on their grandmother Marella Caracciolo’s inheritance, claiming she resided in Italy, not Switzerland. The Elkanns’ lawyers argue the seizure does not indicate guilt, reiterating that their grandmother always lived in Switzerland.
Boeing (NYSE:BA) – Last Friday, Boeing began temporary layoffs for thousands of employees in Washington and Oregon after more than 32,000 workers went on strike, halting production of the 737 MAX and other jets. Union negotiations are stalled, and the company is preparing for a possible extended strike, with workers demanding a 40% wage increase. Additionally, Boeing announced the immediate departure of Ted Colbert, head of its space and defense unit, temporarily replaced by Steve Parker. The new CEO, Kelly Ortberg, highlights the need to restore customer trust following several setbacks, including issues with the Starliner capsule and the 737 MAX. Shares rose 0.6% in pre-market trading, after closing 0.8% lower on Friday.
Alaska Airlines (NYSE:ALK) – Alaska Airlines reported an IT failure that caused delays and led to a two-hour stop order on arrivals in Seattle. The airline clarified that the issue was caused by a certificate and not a cyberattack. Some residual impacts are still expected.
American Airlines (NASDAQ:AAL) – American Airlines requested the U.S. Department of Transportation to delay the resumption of two daily flights to China, citing low travel demand between the two countries. The airline currently operates one daily flight between Dallas and Shanghai, but demand has not yet returned to pre-pandemic levels. Shares fell 0.2% in pre-market trading, after closing 0.9% lower on Friday.
Southwest Airlines (NYSE:LUV) – Southwest Airlines is considering changes in routes and schedules to boost revenue, as well as offering assigned seats. The airline announced it will take difficult steps to restore profitability and meet demands from activist investor Elliott Investment Management.
Rio Tinto (NYSE:RIO) – Dominic Barton, chairman of Rio Tinto, stated in an interview with Bloomberg TV that the mining industry needs to ramp up exploration to meet growing demand for critical metals like copper for the energy transition. He emphasized that mergers and acquisitions will not solve the supply gap and that the company is focused on exploration investments. Shares fell 0.3% in pre-market trading, after closing 2.5% lower on Friday.
Nike (NYSE:NKE) – New Nike CEO Elliott Hill is expected to reverse the direct-to-consumer strategy of former president John Donahoe, prioritizing relationships with retailers and boosting sales. Nike shares closed 6.8% higher on Friday after his appointment, as the company faces strong competition and seeks to regain market share. During Donahoe’s tenure, he received nearly $104 million in salary and benefits at Nike, while the company lost about $40 billion in market value. Donahoe still holds more than 1.5 million stock options that could generate returns if the stock price recovers. Hill will receive an annual package worth about $20 million. Shares fell 0.4% in pre-market trading.
AstraZeneca (NASDAQ:AZN) – AstraZeneca announced that its experimental cancer drug, datopotamab deruxtecan (Dato-DXD), did not improve survival in breast cancer patients compared to chemotherapy. The company noted that the use of other effective therapies after disease progression may have influenced the results. Shares fell 1.4% in pre-market trading, after closing 0.7% lower on Friday.
Grifols (NASDAQ:GRFS) – Grifols accelerated the reduction of executive powers from Thomas Glanzmann, who will now only chair the board, aiming to improve corporate governance. The change, anticipated for 2025, is part of a restructuring following criticism from Gotham City Research and comes amid acquisition talks for the company. Shares fell 2.0% in pre-market trading, after closing 1.4% lower on Friday.
Cardinal Health (NYSE:CAH) – Cardinal Health announced the acquisition of Integrated Oncology Network for $1.12 billion, expanding its presence in cancer treatment. The transaction will allow its Navista unit to access more than 100 healthcare providers across 10 states, strengthening community oncology services. The company expects a positive earnings impact within 12 months of the deal’s close.
Johnson & Johnson (NYSE:JNJ) – A Johnson & Johnson subsidiary filed for bankruptcy for the third time, seeking a $10 billion settlement to resolve thousands of lawsuits alleging its talc products cause cancer. Despite 83% of claimants supporting the deal, J&J faces legal resistance and criticism for manipulating the bankruptcy system.
Novo Nordisk (NYSE:NVO) – Novo Nordisk shares closed down 5.5% on Friday after disappointing results from a trial of its obesity pill, monlunabant, which showed only 6.5% weight loss over 16 weeks, compared to the 15% expected. The company plans to initiate a phase 2b trial to further explore dosage and safety. Shares fell 0.8% in pre-market trading.
Sanofi (NASDAQ:SNY) – Sanofi announced that its multiple sclerosis drug, tolebrutinib, reduced the progression of a progressive form of the disease by 31%. The pharmaceutical company plans to seek approval later this year, following a setback in trials for the recurring form of the disease. Sanofi is looking to diversify its options in MS treatment after losing the Aubagio patent. Sanofi also announced that the Food and Drug Administration (FDA) approved Sarclisa as a first-line combination treatment for multiple myeloma in newly diagnosed patients who are ineligible for stem cell transplant. This is Sarclisa’s third U.S. approval and the first for newly diagnosed patients, based on data from the IMROZ study.