Facebook boycott. Ford and The Clorox joined the list of companies boycotting Facebook because of its inability to moderate hate speech. German sportswear brand Puma announced Tuesday that it will in turn suspend the publication of its Facebook and Instagram ads in July in order to push the social networking giant to remove hateful content from its platforms.
New acquisition. Lululemon Athletica announced on Monday the acquisition of Mirror, a company specializing in home fitness classes and equipment, for $500 million.
Consolidation continues. Uber is reportedly discussing a $2.6bn takeover of Postmates, according to the Wall Street Journal. The meals-on-wheels delivery company had been considering its options for several months. At last count, an IPO was still on the table. But Uber's ambitions in meal delivery, thwarted by the competition since GrubHub will fall into the shoes of Just Eat Takeaway, have undoubtedly changed the situation.
RD Shell loads the boat. Royal Dutch Shell will depreciate between $15 billion and $22 billion of assets in the second quarter, after having revised its medium and long-term projections on oil prices. This is intended to adjust the value of the major's reserves.
Wirecard North America wants to emancipate. Wirecard's North American subsidiary is looking for a buyer by distancing itself from its German parent company. The entity, born from the takeover of Citi Prepaid Card Services in 2016, boasts its "substantial autonomy" and its legal personality distinct from its cumbersome shareholder. Wirecard jumped 154% yesterday on the stock market at the mere mention of an activity that continues despite the bankruptcy. The "lottery ticket" phase has started.
One against three. Wells Fargo is expected to reduce its dividend for the first time in a decade. On the other hand, Citigroup, Morgan Stanley and Bank of America have maintained theirs. These decisions were announced in the wake of the Fed's recommendations last week on earnings-based coupon moderation and a temporary ban on share buybacks.
Norwegian wants money. Norwegian Air Shuttle is cancelling an order for 92 B737MAXs and 5 B787s from Boeing and wants compensation, while the U.S. manufacturer has flown a B737 MAX for the first time in months as part of the recertification campaign. Norwegian said that it had entered into a dialogue with Boeing on compensation, but was not satisfied with the negotiations.
In other news. Micron publishes better-than-expected targets for the fourth fiscal quarter. Gimv takes a significant stake in Televic, a global player in communication systems. Stadler Rail is awarded an equipment contract in the Netherlands. The FDA approves Roche's Phesgo for the treatment of HER2-positive breast cancer. Lonza will have to find a new COO. Leonteq enters into partnership with Blackrock.