Lucid Group (NASDAQ:LCID) – Lucid Group announced it expects a larger loss in Q3 and launched a public offering of 262 million shares. The Saudi Public Investment Fund, Lucid’s largest shareholder, will buy 374.7 million shares, maintaining around 59% ownership of the company. Lucid shares fell 14.6% pre-market after closing up 0.3% on Wednesday.
Phunware (NASDAQ:PHUN) – Phunware Inc. shares surged 17.6% on Wednesday after the company announced the development of a new generative AI platform. CEO Mike Snavely said the platform, expected in 2025, will streamline app design and content creation, significantly reducing development costs and time. Phunware shares rose 13.4% pre-market.
Meta Platforms (NASDAQ:META) – Meta is laying off employees in units like Instagram, WhatsApp, and Reality Labs, according to The Verge. The company stated these changes are aimed at aligning teams with long-term goals. While the number of layoffs is small, Meta has already cut about 21,000 jobs since November 2022. Shares rose 0.7% pre-market after closing down 1.6% on Wednesday.
Deere & Co. (NYSE:DE) – Deere is laying off around 300 employees in Iowa and Illinois due to decreased demand for agricultural equipment. This is the latest round of layoffs after the company reduced its annual profit forecast. The decision is not related to the relocation of production to Mexico.
Apple (NASDAQ:AAPL) – Apple collaborated with Chinese automaker BYD since 2017 on long-range batteries for its now-canceled car project. Although the partnership ended, it helped develop BYD’s Blade battery technology, now used in its electric vehicles, and brought technical advancements to Apple. Apple shares rose 0.5% pre-market after closing down 0.9% on Wednesday.
Nvidia (NASDAQ:NVDA) – Nvidia shares closed 3.1% higher on Wednesday at $ 35.72, after a 4.7% drop the previous day following ASML’s disappointing earnings. ASML fell 16%, with an additional 6.4% drop on Wednesday. Nvidia remains behind Apple in market value, at $3.23 trillion. Nvidia shares rose 2.6% pre-market.
Trump Media and Technology Group (NASDAQ:DJT) – Gerald Shvartsman was sentenced to 22 months in prison for trading shares of Digital World Acquisition Corp. using insider information about its merger with Donald Trump’s media company before it was announced. He earned more than $4.6 million from the trades, being part of a group of three investors charged with fraud. Trump Media shares rose 3.2% pre-market after closing up 15.5% on Wednesday.
ASML (NASDAQ:ASML) – ASML Holding NV is in talks with the Dutch regulator after it published its financial results a day early due to a technical error. The AFM regulator confirmed discussions but did not comment on potential repercussions. ASML shares fell after the results, with investors and analysts cautious after the company lowered its financial outlook for 2025, citing weakness outside the AI market and delayed orders. Despite its essential role in the chip sector, doubts have arisen over short-term sales. Shares rose 0.3% pre-market after closing down 6.4% on Wednesday.
BlackBerry (NYSE:BB) – BlackBerry forecasted higher-than-expected profits for the next fiscal year and is exploring options for its Cylance division. The company plans to increase investments in high-growth areas such as IoT and secure communications while seeking to separate its cybersecurity and IoT divisions. BlackBerry expects EBITDA between $50 million and $60 million for fiscal 2026, above the forecast of $47.8 million. Annual revenue remains projected between $ 91 million and $616 million, with EBITDA of up to $10 million. The IoT division’s revenue is expected to reach between $225 million and $235 million in 2025. Cylance, however, will record an adjusted loss of $51 million this fiscal year. BlackBerry shares closed 4.4% higher on Wednesday.
America Movil (NYSE:AMX) – America Movil will focus on expanding 5G technology in 2024, particularly in Latin America, according to its CEO, Daniel Hajj. The company, controlled by Carlos Slim, had already planned this expansion within its $7 billion budget for 2023. The company is also considering partnerships with SpaceX and debt refinancing.
Uber Technologies (NYSE:UBER), Expedia Group (NASDAQ:EXPE) – Autonomous food delivery robots from Serve Robotics, backed by Nvidia, will be launched by Uber Eats in 2025. These third-generation robots are faster, have greater load capacity, and are more efficient. The company plans to operate 2,000 robots by 2025, starting with 250 in the first quarter. Additionally, the Financial Times reported that Uber Technologies was considering acquiring Expedia. Although Uber’s interest is in the early stages, and no negotiations are ongoing, the acquisition would bolster Uber’s plans to become a “super app.” Uber shares fell 2.4% pre-market, while Expedia shares rose 6.5%.
Instacart (NASDAQ:CART) – Instacart has appointed Anirban Kundu, former head of engineering at Uber, as chief technology officer, after the position was vacant for eight months. Kundu, who led the development of Uber Eats, will start on October 28. His experience in scalable technical systems will help drive Instacart’s growth in advertising and e-commerce.
Walt Disney (NYSE:DIS) – Disney is launching the Lightning Lane Premier Pass, which offers direct access to popular attractions at its theme parks, priced between $129 and $449, depending on the park and date. The new pass, available in October, provides a VIP option while visitors choose between paying for the privilege or sticking with the more affordable and traditional options.
Comcast (NASDAQ:CMCSA) – Comcast’s NBCUniversal plans to add its regional sports channels to the Peacock streaming service in 2025, including broadcasts of games from teams like the Warriors, Celtics, and Phillies. The games will still air on TV, but the channels may be offered as paid add-ons. The launch could be delayed. Comcast shares fell 0.3% pre-market after closing up 0.3% on Wednesday.
Boeing (NYSE:BA) – Boeing plans to raise $15 billion through stock and mandatory convertible notes to strengthen its finances, impacted by a strike. The company is also considering a transaction to raise an additional $5 billion. The capital raise could occur after the strike to protect its credit rating, preventing it from being downgraded to “junk” status. Boeing faces $11 billion in debt through 2026, and the issuance of convertible notes could attract investors as it is more favorable to current shareholders. Boeing shares fell 0.5% pre-market after closing up 1.7% on Wednesday.
Ryanair (NASDAQ:RYAAY) – Ryanair will lower its traffic estimates for next year due to delays in Boeing aircraft deliveries, impacted by a strike and supply chain issues. CEO Michael O’Leary stated that the airline expects fewer planes than anticipated, affecting its planned growth.
American Airlines Group (NASDAQ:AAL), Delta Air Lines (NYSE:DAL) – American Airlines and Delta were provisionally selected for new long-haul flights at Ronald Reagan National Airport, excluding low-cost carriers such as Spirit and JetBlue. Other approved routes include Southwest, Alaska, and United. Spirit and Frontier expressed disappointment with the decision. American Airlines shares fell 0.2% pre-market after closing up 7.2% on Wednesday. Delta shares are down 0.6% after rising 6.8% yesterday.
Tesla (NASDAQ:TSLA) – Amid declining shares and demand for electric vehicles, Elon Musk appointed Omead Afshar to lead Tesla’s operations in North America and Europe. Afshar, Tesla’s vice president since 2017 and a close confidant of Musk, will take over responsibilities previously held by Tom Zhu, reporting directly to Musk. Tesla shares rose 0.4% pre-market after closing up 0.8% on Wednesday.
Stellantis (NYSE:STLA) – The White House urged Stellantis to fulfill commitments to the UAW union and the communities affected by U.S. factory closures. The automaker faces pressure over delayed investments and strike threats. Stellantis reiterated its commitment to creating jobs and investing in the U.S. Stellantis shares rose 0.7% pre-market after closing up 0.9% on Wednesday.
General Motors (NYSE:GM) – General Motors and Foxconn plan to replace imports with production in Mexico, with an announcement expected by the end of the month. The government is also negotiating with companies like DHL and Stellantis to expand local production.
Windrose Technology – Chinese startup Windrose Technology plans to expand its electric truck production to France and Belgium and is considering listing in Brussels. The company, seeking to raise $400 million in New York, plans to use the funds for research, development, and production of zero-emission autonomous trucks.
Pony.ai – Autonomous driving startup Pony.ai plans to hold a U.S. IPO, aiming to raise up to $300 million, according to sources. Guangzhou Automobile Group, an investor in another autonomous vehicle company, WeRide, is considering participating in the IPO. Founded in 2016, Pony.ai operates autonomous fleets in the U.S. and China.
BHP (NYSE:BHP) – BHP exceeded iron ore production estimates in the first quarter, driven by operational improvements in Western Australia and a recovery in China’s real estate market. Production reached 71.6 million metric tons, surpassing the forecast of 70.7 Mt. BHP also recorded a 4% increase in copper production during the quarter. Shares fell 0.2% pre-market after closing down 2.5% on Wednesday.
Goldman Sachs (NYSE:GS) – Goldman Sachs expects the Federal Reserve to consecutively cut interest rates by 25 basis points from November 2024 to June 2025, reaching 3.25%-3.5%. The current rate is 4.75%-5.00%. The bank also anticipates similar cuts at the European Central Bank, reaching 2% by June 2025. Additionally, Goldman Sachs’ investment arm, the second-largest shareholder in Northvolt AB, is considering participating in a financial bailout for the battery manufacturer, which is facing a liquidity crisis. Northvolt is seeking to raise $218 million, with Goldman involved in negotiations to find a solution, encouraging other investors to join. Shares fell 0.9% pre-market after closing up 1.4% on Wednesday.
Morgan Stanley (NYSE:MS) – Traders and bankers at Morgan Stanley drove a 32% increase in third-quarter earnings, beating expectations and boosting the stock by 6.5% on Wednesday. Revenue of $15.4 billion was driven by a 13% increase in trading and record performance in the wealth management unit.
Robinhood (NASDAQ:HOOD) – Robinhood launched its desktop platform, “Robinhood Legend,” and added options, futures, and index trading to its mobile app. The fintech, known for commission-free trading, now aims to serve experienced investors and compete with traditional brokerages like Schwab and Fidelity. The platform offers advanced tools and competitive commissions. Shares rose 2.5% pre-market after closing up 0.5% on Wednesday.
Nike (NYSE:NKE) – Nike is betting on its All Conditions Gear (ACG) line, which makes hiking and outdoor gear like boots and waterproof jackets, to drive global growth. Angela Dong will lead ACG, initially focusing on China, while Scott LeClair will take over as vice president and general manager of the division. Shares are nearly flat in pre-market trading after closing up 2.2% on Wednesday.