• Bhp and Anglo American are facing challenges in their negotiation efforts as the deadline for the takeover talks looms. The complexities of operations in South Africa are proving to be a significant hurdle. Bhp has sought an additional deadline extension to continue the discussions.
  • Volkswagen is setting its sights on developing entry-level electric vehicles with a target price of around EUR 20,000.
  • Ep Corp has agreed to acquire International Distribution Services for GBX 370 per share.
  • Darktrace and Vistry are set to join the FTSE 100, replacing Ocado and St James's Place.
  • Siemens Gamesa (a part of Siemens Energy) plans to cut 4,100 jobs as a part of a company-wide restructuring, as communicated by the CEO in a letter to employees.
  • The FDA has awarded priority review status to Roche's inavolisib.
  • Shell is reportedly planning to implement job reductions in its offshore wind energy division, according to Bloomberg.
  • Kuehne und Nagel has inaugurated a new facility in Texas.
  • ConocoPhillips is reportedly nearing an agreement to acquire Marathon Oil, with the Financial Times noting the potential all-stock deal could have an enterprise value of $15 billion. Marathon Oil shares have risen by 6.1% in pre-market trading, while ConocoPhillips shares have seen a slight decline of 0.7%.
  • Shareholders of Hess have approved a takeover by Chevron.
  • Merck & Co is reportedly close to a $1.3 billion acquisition of Eyebiotech, with the deal potentially including up to $1.7 billion in additional payments, as reported by the Wall Street Journal.
  • American Airlines has adjusted its profit forecasts downwards, leading to a 6% decline in after-hours trading. The airline's shares further dropped by 7.8% in pre-market trading following a downgrade by Jefferies from “buy” to “hold”.
  • Elliott Management has taken a $2.5 billion stake in Texas Instruments.
  • Spire Global is set to join the Russell 3000 index come July.
  • Kkr has acquired Emera's stake in a Canadian power transmission project for $872 million.
  • Atlantica Sustainable Infrastructure is to be acquired by Energy Capital Partners Group for USD 22 per share in cash.
  • Robinhood Markets has announced a $1 billion share buyback plan, which led to a 3.2% increase in premarket trading.
  • Trump Media has requested that Louisiana authorities investigate its stock trading activities.
  • Byd has unveiled a new hybrid vehicle that boasts a non-stop driving range of approximately 2000 km.
  • Lenovo has issued $2 billion in bonds to the Saudi sovereign wealth fund.
  • The parent company of Gol is engaging in discussions with Azul to explore potential opportunities, as stated by the two airlines.
  • For the first time in South Korea's history, unions at Samsung Electronics may go on strike.
  • Nvidia and Apple - The gap in market valuation between Nvidia and Apple has narrowed to about $100 billion. Nvidia shares rose by 6.98% on Tuesday amid enthusiasm for generative AI technologies. Should Nvidia shares continue to rise significantly on Wednesday, the company could overtake Apple as the second-largest company by market capitalization on Wall Street, just behind Microsoft.
  • Faraday Future Intelligent Electric - The electric vehicle manufacturer's shares fell by 5.3% in premarket trading after it announced the withdrawal of its production forecast for the year due to the current market conditions and financing levels.
  • Advance Auto Parts has seen a 3.1% increase in pre-market trading. The company's full-year fiscal net sales forecast ranges between $11.30 billion and $11.50 billion, which is consistent with or slightly exceeds analyst expectations reported by LSEG.

Today's key earnings reports include Salesforce, Bank of Montreal, Agilent Technologies, HP Inc, National Bank of Canada, Pure Storage, Dick's Sporting Goods, Okta, Nutanix, Pershing Square, Opap, Telecom Italia, Evn, Strabag, Douglas, Aroundtown, and others.