Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) – TSMC is planning new factories in Europe focused on AI chips after starting construction on its first plant in Dresden, Germany. According to Wu Cheng-wen of TSMC, the company is considering further expansion in Europe, but there is no specific timeline. TSMC is already investing $65 billion in three factories in Arizona, but most of its production will remain in Taiwan. TSMC is set to release its earnings report on Thursday morning. According to LSEG, TSMC is expected to report a 40% increase in third-quarter profit due to high demand for AI chips, with estimated net income of $9.27 billion (T$ 298.2 billion). The stock rose 0.3% in pre-market trading after closing 2.7% higher on Friday.
Boeing (NYSE:BA) – Boeing will cut 17,000 jobs, about 10% of its global workforce, due to the ongoing strike. The company will also delay the delivery of the 777X jet until 2026 and record a $5 billion loss in the third quarter, facing financial and production challenges. Under new leadership from Kelly Ortberg, the company is restructuring but faces financial hurdles, including potential credit downgrades. The stock dropped 1.5% in pre-market trading after closing down 3% on Friday.
Berkshire Hathaway (NYSE:BRK.B) – Berkshire Hathaway increased its stake in Sirius XM, purchasing 3.6 million shares for $87 million, raising its total stake to 32%. Although Sirius XM shares have fallen 55% this year, Berkshire continues to invest despite concerns over subscribers, stagnant revenue, and high company debt. BRK.B shares rose 0.4% in pre-market trading after closing 1.2% higher on Friday.
Alphabet (NASDAQ:GOOGL) – Google has requested a federal judge in California to suspend a court order requiring greater competition in its Play app store. The tech giant argues that the measure, which takes effect on November 1, would harm the company and pose security and privacy risks on Android. Shares rose 0.1% in pre-market trading after closing 0.7% higher on Friday.
Nvidia (NASDAQ:NVDA), Accenture (NYSE:ACN) – Nvidia made two significant moves: it launched a 72-billion-parameter large language model, NVLM, and formed a strategic partnership with Accenture for AI services. The NVLM puts Nvidia in the open-source AI game, directly competing with models from OpenAI, Meta, and Alphabet. Nvidia shares rose 0.6% in pre-market trading after closing flat on Friday.
Netflix (NASDAQ:NFLX) – Netflix shares have surged 48.5% this year as the company cut costs, introduced ads, and cracked down on password sharing. Analysts expect a subscription price hike, driven by content releases like the second season of “Squid Games” and events like live NFL games. Analysts predict an 8% to 15% increase in the Standard plan. Shares rose 0.4% in pre-market trading after closing down 1.0% on Friday.
JFrog (NASDAQ:FROG) – JFrog has attracted preliminary acquisition interest from private equity firms, including Permira and Hellman & Friedman. However, there are no guarantees this will result in a deal. JFrog has denied being in any merger or acquisition talks, and its stock closed 4.5% higher on Friday after news of the interest. Shares are stable in pre-market trading.
Tesla (NASDAQ:TSLA) – Tesla shares closed down 8.8% on Friday after Elon Musk unveiled the Cybercab, a two-seater sports robotaxi from Tesla, causing confusion among analysts and investors. They questioned the limited design and lack of financial details. With production set for 2026, the model may not meet market demand, as two-door vehicles are unpopular in the U.S. Shares rose 1.6% in pre-market trading.
Stellantis NV (NYSE:STLA) – Carlos Tavares, CEO of Stellantis, will be actively participating in the Paris Auto Show with a busy schedule of public events. Tavares faces challenges following a profit warning and a 45% drop in shares in 2024. The company is dealing with operational issues in the U.S., such as high prices and accumulated stock. Tavares aims to turn things around before his retirement in 2026, amid growing competition and internal reorganization. He recently stated that France’s planned corporate tax hike will hurt investments in the country, costing Stellantis “millions of euros,” though the company can absorb the impact. Tavares also warned that tax hikes for the wealthy could cause skilled talent to leave. Shares are stable in pre-market trading after closing down 2.2% on Friday.
Fisker (USOTC:FSRNQ) – Electric vehicle startup Fisker received court approval for its liquidation plan after securing the sale of 3,000 Ocean SUVs for $46 million. Fisker filed for bankruptcy in June due to cash flow problems, halting production. American Lease will buy the fleet and pay $2.5 million for support services.
Plug Power (NASDAQ:PLUG) – Plug Power shares closed 7.6% higher on Friday after Norway’s central bank, Norges Bank, increased its stake to 88 million shares, about 8% of the total. The bank’s interest, known for investing in sustainability, boosted confidence in the hydrogen fuel cell maker, which faces challenges in developing low-cost technology. Shares dropped 1.4% in pre-market trading.
Kinder Morgan (NYSE:KMI) – A U.S. appeals court has suspended approvals for the construction of a 32-mile pipeline in Tennessee by Kinder Morgan after a request from environmental groups. The decision was made to give the court time to assess claims that the project could cause environmental harm, with new arguments in December. Shares dropped 0.2% in pre-market trading after closing down 4.1% on Friday.
Honeywell (NASDAQ:HON) – Private equity firm Odyssey is in advanced talks to acquire Honeywell’s face mask unit, according to Bloomberg News. The deal could value Honeywell’s personal protective equipment (PPE) division at approximately $1.5 billion.
Mitsubishi UFJ Financial Group (NYSE:MUFG) – Mitsubishi UFJ Financial Group’s trust banking arm plans to launch three funds worth up to $670.6 million (100 billion yen) in 2024 to offer loans to businesses, according to Nikkei. These funds will seek financing from insurers and pension funds for mergers, acquisitions, and infrastructure projects, meeting the growing demand for alternative financing. Shares closed 3.2% higher on Friday.
Bain Capital (NYSE:BCSF) – Bain Capital made a binding offer of 9,450 yen per share to buy Fuji Soft, valuing the company at $4 billion, outbidding KKR’s offer by 7%. Bain plans to launch the offer soon, while KKR argues its proposal is more advantageous for the company.
Charles Schwab (NYSE:SCHW), Ally Financial (NYSE:ALLY), UMB Financial Corp. (NASDAQ:UMBF), KeyCorp (NYSE:KEY) – The Federal Open Market Committee cut the federal funds rate in September, but the effects on banks will take time to appear. By 2025, banks like Charles Schwab, Ally Financial, UMB Financial, and KeyCorp are expected to improve their net interest margins as interest rates decline and bond yields rise. Schwab shares rose 0.5% in pre-market trading after closing up 1.6% on Friday.
Citigroup (NYSE:C) – Citigroup has hired two senior bankers from JPMorgan for its markets team in Asia. Anand Goyal was appointed head of institutional FX sales for several Asian regions and will be based in Singapore. Hooi Wan Ng was named head of markets for Malaysia, reporting to Citi’s regional leaders.
CVS Health (NYSE:CVS) – CVS Health announced that it is exiting the infusion services business and plans to close or sell 29 regional pharmacies in the coming months. The company stopped accepting new patients on October 8, transferring current ones to other providers. The move does not affect its corporate job cut forecast. Shares rose 0.3% in pre-market trading after closing down 0.3% on Friday.
Pfizer (NYSE:PFE) – Pfizer received approval for hympavzi, the first anti-tissue factor inhibitor authorized for hemophilia A or B without inhibitors. Administered weekly via autoinjector pen, it significantly reduces bleeding and the need for constant infusions, benefiting especially hemophilia B patients, who have fewer treatment options available.
GSK Plc (NYSE:GSK) – GSK’s experimental drug, depemokimab, showed promising results in advanced trials for treating chronic rhinosinusitis with nasal polyps, a condition that affects up to 4% of the population. The drug reduced nasal obstruction and polyp size, boosting GSK’s growth prospects, with launches expected by 2027. Shares rose 0.9% in pre-market trading after closing down 1.0% on Friday.
Unilever (NYSE:UL) – Elon Musk’s X platform has dropped Unilever from a lawsuit alleging a conspiracy to boycott the platform, causing revenue loss. The two companies reached a settlement, with Unilever stating that X would meet its responsibility standards. X continues to pursue its claims against other defendants in the case.