BP Plc (NYSE:BP) – BP expects a net debt increase in Q3 due to lower refining margins and changes in asset sale timing. The company faces reduced earnings of up to $600 million, signaling a weaker outlook for the oil industry amid concerns about China’s demand. Shares fell 1.0% pre-market.
Tesla (NASDAQ:TSLA) – Elon Musk revealed a robotaxi with gull-wing doors, no steering wheel or pedals, and an autonomous robovan for up to 20 passengers. He stated production of the “Cybercab” would begin in 2026 at a cost of under $30,000. Musk bets on AI and cameras, predicting operating costs of 20 cents per mile over time, with inductive charging eliminating plugs. Tesla likely failed to impress investors, with shares falling 5.6% pre-market. Additionally, Tesla announced it would offer permanent jobs to 500 temporary workers at its German gigafactory starting November 1. The factory, employing around 12,000 people, had faced previous staff cuts.
Stellantis (NYSE:STLA) – Stellantis confirmed CEO Carlos Tavares will retire in 2026 as the company faces declining profits and U.S. sales. The automaker, having appointed new executives to tackle these challenges, views reorganization as essential for improving production and competing with Chinese EV manufacturers, focusing on boosting EV sales by 2030. Shares fell 3.3% pre-market.
Berkshire Hathaway (NYSE:BRK.A), Bank of America (NYSE:BAC) – Berkshire Hathaway sold 9.5 million shares of Bank of America this week, reducing its stake to below 10%. The sale generated $382.4 million. Investors now await upcoming quarterly reports to see if more shares were sold by the investment giant. Bank of America shares fell 0.2% pre-market.
General Motors (NYSE:GM) – General Motors announced that its GM Energy unit will offer solar energy storage options for EV owners, launching the GM Energy PowerBank with capacities of 10.6 and 17.7 kWh. The product can supply power during outages and help reduce costs during peak hours. Shares fell 0.7% pre-market.
Toronto-Dominion Bank (NYSE:TD) – TD Bank admitted to violating the U.S. Bank Secrecy Act, agreeing to a fine of over $3 billion. Investigators found the bank facilitated illicit transactions linked to drug trafficking and failed to monitor suspicious transactions. An asset cap was imposed, impacting its U.S. expansion, and the CEO was replaced. TD Bank stated it would focus on restructuring its balance sheet in 2025, planning to sell up to $50 billion in securities and reduce U.S. assets by 10%, impacting short-term revenue. Shares rose 0.1% pre-market.
Bain Capital (NYSE:BCSF) – Bain Capital was forced to nearly halve the valuation of Japanese Kioxia for its IPO, leading to the cancellation of the planned October listing. Investors wanted a market value of 800 billion yen, while Bain sought 1.5 trillion yen, reflecting concerns about the memory chip market.
Citigroup (NYSE:C) – Citigroup formed a new executive team for its corporate and investment bank, seeking to expand its market share. The move follows the hiring of Viswas Raghavan and includes John Chirico and Jason Rekate as co-heads.
Mastercard (NYSE:MA) – Mastercard and Citigroup are collaborating to offer 24/7 international payments with debit cards, allowing consumers and businesses to conduct borderless transactions. The service, called Mastercard Move, will facilitate payments like insurance and reimbursements, available in 65 countries.
Shell (NYSE:SHEL) – Shell lost its bid to access non-public documents related to Venture Global LNG’s Calcasieu Pass facility amid a dispute over undelivered gas cargoes. The FERC allowed access to documents from January 1, 2022, but denied Shell’s request for earlier files. Shares fell 0.4% pre-market.
Duke Energy (NYSE:DUK) – Duke Energy faced major challenges restoring power with two severe storms affecting the U.S. Southeast. The company was nearly finished recovering from 2 million outages caused by Hurricane Helene when Hurricane Milton hit Florida, prompting new efforts. Infrastructure damage may result in higher rates for consumers.
First Solar (NASDAQ:FSLR) – First Solar and the solar sector shares dropped on Thursday amid concerns over project delays. Jefferies analysts warned that these delays, caused by long interconnection queues and supply chain issues, could impact the company’s finances, leading to a target price cut. First Solar shares rose 0.6% pre-market after closing down 9.3% on Thursday.
Boeing (NYSE:BA) – Boeing filed an unfair labor practice charge against the union representing its striking workers on the U.S. West Coast, claiming the union did not bargain in good faith. The 33,000-member strike is in its fifth week, causing frustration and financial pressure. Shares fell 0.1% pre-market.
Spirit AeroSystems (NYSE:SPR) – Airbus is facing challenges with essential part supplies from Spirit AeroSystems, which may delay deliveries, including the A350 next year. The company is increasing its presence at suppliers to mitigate the impact. Fuselage and wing production issues with the A220 are further straining the supply chain.
Aehr Test Systems (NASDAQ:AEHR) – Aehr Test Systems reported quarterly profits of $660,000 (2 cents per share), down from $4.7 million (16 cents) a year earlier. Revenue fell 36% to $13.1 million. Adjusted earnings were 7 cents per share. The company maintains an annual revenue forecast of at least $70 million. Shares rose 12.5% pre-market.
Delta Air Lines (NYSE:DAL), CrowdStrike (NASDAQ:CRWD) – Delta Air Lines warned that Q4 revenue would be impacted by the U.S. presidential election, as consumers cut spending and prefer to stay home. However, the company expects it to be one of its most profitable quarters, driven by strong holiday travel bookings and higher pricing power. A software update disruption at CrowdStrike caused a 45-cent per share loss in its Q3 earnings. Delta shares fell 0.2% pre-market.
United Airlines (NASDAQ:UAL) – United Airlines stated that the Boeing workers’ strike would not affect its summer flight schedule, including new routes. Despite the strike, the airline plans to expand transatlantic operations and introduce flights to new destinations, maintaining confidence in resolving the conflict. Shares fell 0.1% pre-market.
Apple (NASDAQ:AAPL) – Malala Yousafzai, Nobel Peace Prize winner, is expanding her Hollywood career with the documentary “The Last of the Sea Women,” available on Apple TV+. The visually stunning film portrays the haenyeo, Korean female divers who collect seafood without oxygen tanks. Critics say the film lacks depth in personal stories and the challenges the divers face. Shares fell 0.1% pre-market.
Comcast (NASDAQ:CMCSA) – Comcast CEO Brian Roberts stated that the company is prepared for more cord-cutting among TV subscribers but believes it will benefit from offering broadband internet and NBA games online.
Sony Music Group (NYSE:SONY) – Rob Stringer, chairman of Sony Music Group, confirmed the purchase of Pink Floyd’s rights, calling the band’s catalog invaluable. He highlighted the importance of music in the digital age and expressed concerns about streaming service algorithms limiting new music discovery. Shares rose 0.2% pre-market.
AT&T (NYSE:T) – AT&T, which lost appeal among dividend investors after a 2022 cut, saw its shares rise 13% over three months, driven by the completion of its exit from entertainment. While it still faces challenges, the company offers a 5.2% yield, attractive in a declining interest rate environment. Shares rose 0.2% pre-market.
Advanced Micro Devices (NASDAQ:AMD) – AMD shares closed down 4% on Thursday, its biggest decline in a month, after launching new AI chips but providing no details on customers or financial performance. CEO Lisa Su highlighted that the MI325X chips would outperform Nvidia’s, with a growing market outlook. Shares rose 0.4% pre-market.
Alphabet (NASDAQ:GOOGL) – Matt Brittin, who oversaw Google’s operations in Europe, the Middle East, and Asia for a decade, is stepping down. Brittin, who joined the company in 2007, will remain in the role until a successor is named. Shares rose 0.1% pre-market.
Trump Media & Technology Group (NASDAQ:DJT) – Trump Media & Technology Group shares gained 17.3% on Thursday, marking the highest close in six weeks, with a 46% gain for the week. Trading volume was three times the average. Trump’s election victory odds have also increased recently, according to PredictIt. Shares rose 3.2% pre-market.
Pfizer (NYSE:PFE) – The conflict between Pfizer and Starboard Value escalated when Starboard called for an investigation into the pressure former Pfizer executives faced, leading them to withdraw support for Starboard’s campaign. Starboard, with a $1 billion stake in Pfizer, alleges the former executives were threatened with litigation.
Sanofi (NASDAQ:SNY) – Sanofi is in talks with private equity firm Clayton Dubilier & Rice to sell 50% of its consumer healthcare division, Opella. The deal, valued at $16.41 billion (€15 billion), has not yet disclosed financial details, with updates expected soon. The French pharmaceutical company aims to focus on developing new drugs. The deal could be announced soon, according to Bloomberg. Shares rose 0.5% pre-market.
Johnson & Johnson (NYSE:JNJ) – A Johnson & Johnson subsidiary may proceed with a new attempt to settle thousands of lawsuits over talc products allegedly causing cancer, following a Texas bankruptcy judge’s decision. This is the company’s third attempt, proposing a $9 billion settlement to compensate victims.
Teva Pharmaceutical (NYSE:TEVA) – Teva Pharmaceutical agreed to pay $450 million to resolve allegations of using charities to pay kickbacks and boost sales of its drug Copaxone, as well as conspiring to fix generic drug prices. The company, which admitted no wrongdoing, will pay the amount over six years, the U.S. Department of Justice announced.
Mattel (NASDAQ:MAT) – Mattel is recalling all models of its Fisher-Price Snuga infant swings following five deaths related to suffocation risks between 2012 and 2022. The swing, which should not be used for sleeping, will be recalled, and Fisher-Price will offer a partial refund of $25 to consumers.
Nike (NYSE:NKE) – Nike appointed Tom Peddie as vice president and general manager of North America following his return to the company. Peddie, who retired in 2020, will replace Scott Uzzell and report to Craig Williams. His experience is seen as crucial for recovering retail partnerships and driving sales.
McDonald’s (NYSE:MCD) – McDonald’s CEO Chris Kempczinski stated that low-income customers will continue to face financial difficulties next year. The company plans to keep offering strong value propositions, including affordable meal options like chicken, which is cheaper than beef. Shares fell 0.4% pre-market.
PepsiCo (NASDAQ:PEP) – PepsiCo may have to lower prices after pandemic-era increases, as TD Cowen analysts downgraded its stock from “Buy” to “Hold.” They noted that PepsiCo’s product prices have risen 41% since 2020, while grocery store prices increased 25%, raising concerns about demand.