HSBC Holdings (NYSE:HSBC) – HSBC is undergoing a major restructuring under new CEO Georges Elhedery, focusing on cost-cutting and simplification. The merger of commercial and institutional banking operations will be overseen by Michael Roberts. Additionally, Pam Kaur has been appointed as the bank’s first female CFO, while regional changes create new autonomous units in the UK and Hong Kong. Shares rose 0.1% in pre-market after closing down 1.2% on Monday.
Meta Platforms (NASDAQ:META) – Meta is re-testing facial recognition three years after deactivating it to combat “celebrity bait” scams. The test involves public figures, comparing profile photos with images used in fraudulent ads. If a match is found, Meta will block the ads. Celebrities will be notified and can opt out of the program if they do not want to participate. Shares fell 0.2% in pre-market after closing down 0.2% on Monday.
Nebius Group NV (NASDAQ:NBIS) – Nebius Group surged in its first trading session since February 2022 after a long suspension due to the Ukraine invasion. Originally part of Yandex, the company was spun off in July after a $5.4 billion deal. Nebius now focuses on providing cloud services for AI and Nvidia GPUs, targeting the AI infrastructure market. The company projects its revenue to increase three to four times by 2025, reaching between $500 million and $700 million, with significant investments in data centers in Finland, France, and North America. Shares fell 3.0% in pre-market.
Microsoft (NASDAQ:MSFT) – Microsoft is launching AI tools that automate business tasks like sending emails and managing records, intensifying competition with rivals like Salesforce. Ten “autonomous agents” will be available starting in December. These tools, integrated into Dynamics 365, will enable companies to automate repetitive tasks without human intervention. Shares fell 0.1% in pre-market after closing up 0.2% on Monday.
Qualcomm (NASDAQ:QCOM) – Qualcomm is integrating technology developed for its laptop chips into its mobile chips, aiming to improve performance in generative AI tasks. The new chip, Snapdragon 8 Elite, includes the “Oryon” suite and special tools for developers. Samsung, Asus, and Xiaomi will adopt this technology. Shares fell 0.3% in pre-market after closing down 1.1% on Monday.
Nvidia (NASDAQ:NVDA) – Nvidia shares surged on Monday, reaching a market capitalization of $3.525 trillion, joining the exclusive group of companies with a value above $3.5 trillion alongside Apple. The closing price of $143.71 marked a 4.1% gain, solidifying its position in the chip sector. Shares fell 0.6% in pre-market.
Texas Instruments (NASDAQ:TXN) – Weakness in Texas Instruments’ key markets may lead to an underwhelming forecast for investors. Analysts expect revenue of $4.12 billion and adjusted earnings per share of $1.38 for the September quarter. Demand in the automotive and industrial sectors remains weak, but a recovery is expected next year. Shares fell 0.3% in pre-market after closing down 1.4% on Monday.
Amazon (NASDAQ:AMZN) – Amazon’s ambitious Project Kuiper, which aims to launch 3,236 broadband satellites, is gaining attention ahead of its main mission in 2024. However, Bank of America analysts warn that it may take years to impact the company’s stock value due to high costs and competition. Shares fell 0.3% in pre-market after closing flat on Monday.
Honeywell (NASDAQ:HON), Alphabet (NASDAQ:GOOGL) – Honeywell has partnered with Google to integrate advanced AI into its industrial data. Using Google’s Gemini technology, the collaboration aims to automate tasks and optimize operations, particularly in sectors with labor shortages. The first AI solutions will be launched in 2025, aiming to boost efficiency and reduce costs. Alphabet shares fell 0.1% in pre-market after closing up 0.4% on Monday.
Boeing (NYSE:BA) – Boeing has proposed a new contract to end a strike that has lasted over a month. The offer includes a 35% pay increase, a $7,000 bonus, and improved retirement plans. However, workers have expressed dissatisfaction, and approval remains uncertain. Shares rose 0.4% in pre-market after closing up 3.1% on Monday.
Azul SA (NYSE:AZUL) – Azul’s efforts to raise $400 million in new debt have faced challenges, with Jefferies Financial Group struggling to attract investors to sell convertible capital debt. Azul needs this financing to meet an agreement with lessors and suppliers to reduce its debt by R$3 billion.
United Parcel Service (NYSE:UPS) – UPS received a rare sell recommendation from Barclays on Monday, citing concerns over declining profits due to lower demand for deliveries and a potential reduction in business with Amazon. The analyst also highlighted growing competition from FedEx, which could further pressure UPS’s performance. Shares fell 3.4% on Monday.
Hasbro (NASDAQ:HAS), Mattel (NASDAQ:MAT) – As the US presidential race heats up, companies and economists are concerned about the impact of new tariffs if Donald Trump returns to office. However, UBS analyst Arpine Kocharyan stated that Hasbro and Mattel are less exposed to tariff risks due to their lower reliance on China compared to other companies. Mattel closed down 3.4% on Monday, while Hasbro fell 1.4%.
Nike (NYSE:NKE) – Nike renewed its partnership with the NBA and WNBA for another 12 years, making it the exclusive provider of uniforms and apparel until 2037. The previous $1 billion deal was significantly expanded, keeping Nike as the primary merchandising and content partner. Shares rose 0.3% in pre-market after closing down 1.7% on Monday.
Cheesecake Factory (NASDAQ:CAKE) – Activist investor JCP Investment Management, with a 2% stake in Cheesecake Factory, suggested that the company consider creating a new public company by spinning off its smaller brands, such as North Italia, Flower Child, and Culinary Dropout.
Unilever (NYSE:UL) – Former Unilever CEO Paul Polman, along with the Rockefeller Foundation and other advocates, is pushing major food companies to produce and market healthier products. The campaign aims to combat junk food dependency and promote more sustainable practices, with support from investors focused on a healthier and more equitable future. Shares fell 0.3% in pre-market after closing down 1.0% on Monday.
RH Inc. (NYSE:RH) – RH Inc. overpriced its luxury goods but is recovering thanks to new products and stores. Wedbush upgraded the company to outperform, with projected sales growth despite a tough housing market. The target price was raised to $430. Shares closed down 2.2% on Monday.
Walt Disney (NYSE:DIS) – Disney announced plans to name a successor for CEO Bob Iger by early 2026, marking progress in its leadership succession. Former Morgan Stanley CEO James Gorman will become board chairman on January 2, 2025, while Iger will remain until 2026. Shares fell 0.2% in pre-market after closing down 0.7% on Monday.
Tesla (NASDAQ:TSLA), Warner Bros Discovery (NASDAQ:WBD) – Alcon Entertainment sued Tesla and Warner Bros, alleging misuse of images from “Blade Runner 2049” to promote Tesla’s cyber cab. The studio claims copyright infringement and “false endorsement,” arguing that Tesla used AI-generated images even after Alcon denied Warner Bros’ request. Tesla shares fell 0.7% in pre-market, while Warner shares rose 0.4%.
Lucid Group (NASDAQ:LCID) – Lucid CEO Peter Rawlinson said the recent stock sale, which raised nearly $1.75 billion, will ensure liquidity until 2026. The company plans to launch the Gravity SUV and expand factories in the US and Saudi Arabia. It expects to increase deliveries by 50% in 2024 compared to 2023. Shares rose 3.9% in pre-market after closing down 3.0% on Monday.
Schlumberger (NYSE:SLB) – Dozens of US lawmakers from both parties have called on the Biden administration to toughen sanctions on Russian oil and questioned the exemption given to SLB, the largest oilfield services company, which continues to operate in Russia. They argue this helps fund Putin’s war against Ukraine.
KKR and Company (NYSE:KKR), Bain Capital (NYSE:BCSF) – Fuji Soft’s largest shareholder confirmed support for KKR’s acquisition offer, preferring it over Bain Capital’s higher bid. KKR has secured commitments from major shareholders, controlling nearly a third of the company, potentially blocking Bain’s offer. 3D Investment Partners expressed confidence in KKR.
BlackRock (NYSE:BLK) – BlackRock CEO Larry Fink said the growth of private markets could reduce the economic impact of large deficits and high US government debt. He emphasized that while rising public debt is a concern, private capital markets can drive economic growth without increasing the deficit.
Blackstone (NYSE:BX), Apollo Global Management (NYSE:APO) – Blackstone increased its investment-grade private credit portfolio by 40%, while Apollo manages $275 billion in high-quality credit. According to Bloomberg, asset managers who previously financed struggling companies are now seeking loans for highly rated firms. Both are competing with banks by offering direct financing solutions to large companies, backed by insurers seeking higher returns on safe assets.
WisdomTree Inc. (NYSE:WT) – WisdomTree Asset Management, a subsidiary of WisdomTree Inc., agreed to pay $4 million to settle SEC charges that it misleadingly marketed three funds as ESG. The SEC found that the funds invested in fossil fuels and tobacco, contrary to claims. Shares rose 3.7% in pre-market after closing down 0.2% on Monday.
Moody’s (NYSE:MCO) – Moody’s adjusted its outlook for the US banking system from negative to stable, citing expectations that interest rate cuts and moderate economic growth will stabilize banks’ asset quality and boost profitability, promoting a more positive sector outlook.
CVS Health (NYSE:CVS) – David Joyner has taken over as CEO of CVS Health following Karen Lynch’s departure, facing questions about his experience in reviving Aetna, which is dealing with high medical costs. The appointment comes amid investor pressure as the company reviews its strategy, including asset sales and pharmacy closures.
Catalent (NYSE:CTLT) – Catalent CEO Alessandro Maselli stated that he will continue leading the company after its $16.5 billion acquisition by Novo Holdings, despite concerns about potential threats to competition in weight-loss drugs. He assured that Catalent will continue to operate independently and protect customer information.
Eli Lilly (NYSE:LLY) – Eli Lilly sued three medical spas and online sellers for marketing products containing tirzepatide, an ingredient in its Zepbound drug. The companies Pivotal Peptides, MangoRx, and Genesis Lifestyle Medicine were accused of selling unauthorized versions without proof of safety. Lilly is seeking injunctions to stop the sales and monetary damages.
Earnings
SAP (NYSE:SAP) – The enterprise software company exceeded expectations in Q3, reporting adjusted earnings of €1.23 per share, above the €1.06 expected, with revenue of €8.47 billion, slightly below the €8.63 billion estimate. Cloud revenue grew 25% to €4.35 billion, and operating profit grew 28%, beating expectations. AI played a key role, with 30% of contracts involving AI. The company raised its 2024 profit forecast to between €7.8 billion and €8.0 billion. Shares rose 4.6% in pre-market after closing down 0.4% on Monday.
Logitech (NASDAQ:LOGI) – The tech peripherals maker raised its full-year forecast after a strong Q2, with non-GAAP operating income of $193 million, beating the $176 million estimate. Revenue grew 6% to $1.12 billion, surpassing the $1.10 billion forecast. The company now expects sales between $4.39 billion and $4.47 billion, driven by increasing demand. However, shares fell 7.3% in pre-market after closing up 3.6% on Monday.
AGNC Investment Corp (NASDAQ:AGNC) – The real estate investment firm reported earnings per share of $0.63 in Q3 2024, beating the $0.51 estimate but with revenue of $376 million, well below the $707.77 million expectation. The company generated a 9.3% economic return and increased tangible net book value per share to $8.82, a 5% growth from the previous quarter. Shares fell 0.2% in pre-market after closing down 2.1% on Monday.
RLI Corp (NYSE:RLI) – The niche-focused insurer reported net income of $95.0 million, or $2.06 per share, in Q3 2024, a sharp increase from $13.5 million or $0.29 per share the prior year. Revenue was $469.99 million, surpassing the $389.49 million estimate. Operating profit more than doubled to $60.4 million. Shares rose 2.5% in pre-market after closing down 0.6% on Monday.
Nucor (NYSE:NUE) – The steel and products company reported earnings per share of $1.49 in Q3, below the $1.52 estimate, while revenue reached $7.44 billion, exceeding the $7.29 billion forecast. For Q4 2024, the company expects lower earnings due to declining selling prices and volumes in the steel mill segment.
WR Berkley (NYSE:WRB) – The commercial risk-focused insurer reported diluted earnings per share of $0.91 in Q3 2024, below the $0.97 estimate. Total revenue was $3.4 billion, with net written premiums of $3.06 billion, up from $2.85 billion the previous year. Investment income rose 19.5%, reaching $323.8 million. The company posted record net income of $366 million, surpassing the $333.6 million from the prior year. Return on equity was 19.6%, while operating cash flow reached $1.2 billion.
BOK Financial (NASDAQ:BOKF) – The regional bank reported net income of $140 million in Q3 2024, with earnings per share of $2.18, down from $163.7 million and $2.54 per share the prior quarter. Net interest income increased to $308.1 million, and total revenue was $510.6 million, in line with analyst estimates.
Zions Bancorporation (NASDAQ:ZION) – The regional financial services bank reported net income of $204 million in Q3 2024, with earnings per share of $1.37, beating the $1.18 estimate. This represented a 21% increase compared to the same quarter last year. Net interest margin rose to 3.03%, while operating costs increased by 1%.
Washington Trust Bancorp (NASDAQ:WASH) – The community bank reported net income of $11.0 million in Q3 2024, with earnings per share of $0.64, slightly above the $0.63 from the prior quarter. Net interest margin rose to 1.85%, and assets under management grew 4% to $7.1 billion. Deposits increased by 3%, while loans fell by 2%.
TFI International (NYSE:TFII) – The transportation and logistics company reported adjusted earnings per share of $1.60 in Q3 2024, below the $1.78 estimate. Revenue was $2.19 billion, falling short of the $2.27 billion forecast but up 14.3% year-over-year. Operating income rose to $203.3 million, while net income fell to $128 million.
Hexcel (NYSE:HXL) – The composite materials manufacturer reported adjusted earnings of $0.47 per share on revenue of $456.5 million in Q3, slightly below the $457.1 million estimate from FactSet analysts. Furthermore, Hexcel’s revised annual outlook for earnings and revenue fell below Wall Street expectations.
Alexandria Real Estate (NYSE:ARE) – The real estate investment trust reported Q3 revenue of $791.6 million and adjusted operating funds of $2.37 per share, surpassing the $713.8 million in revenue and $2.26 per share from the same period last year.
InterContinental Hotels Group (NYSE:IHG) – The global hotel and resort chain reported a 1.5% increase in lodging revenue in Q3 2024, driven by a 4.9% rise in revenue per available room (RevPAR) in the EMEAA region. However, RevPAR declined by 10.3% in China. The company expects to meet market expectations for the year, with a projected RevPAR growth of 2.6% for 2024.