North America:

  • Meta Platforms faced multiple financial penalties, including a $264 million fine by the Irish Data Protection Commission for a Facebook data breach and a $31.7 million settlement in Australia over the Cambridge Analytica scandal, alongside updating their Ray-Ban smart glasses with AI video and live translation features.
  • Mexico's antitrust regulator, Cofece, has fined Wal-Mart de Mexico for anticompetitive practices and could impose further penalties up to 8% of its income for non-compliance, while separately, Walmart is expanding its e-commerce in China through a partnership with Meituan.
  • Pfizer anticipates its 2025 revenue and earnings to align with market expectations, maintaining its 2024 financial guidance, despite expecting no major vaccine policy changes under Trump and a $1 billion impact from federal drug benefit redesigns, while healthcare stocks see a slight decline.
  • Broadcom's price target was raised to $240, Micron received a $6.1 billion investment for chip facilities, and Tesla's shares surged over 6% due to optimistic projections for its AI and autonomous driving initiatives, amidst a mixed performance in Wallstreetbets-discussed stocks and a falling US stock market as the Federal Reserve policy meeting commenced.
  • Congo has filed criminal complaints and is suing Apple over the use of conflict minerals in their supply chain, amidst a backdrop of rising tech stocks, with notable gains in the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD).
  • Alibaba Group has sold its 100% stake in the Intime department store chain for 7.4 billion yuan ($1.02 billion), expecting to incur a loss of approximately $1.28 billion.
  • Gilead Sciences is expanding its impact with lenacapavir potentially available in the poorest countries by 2025, receiving FDA breakthrough designation for its cancer drug Trodelvy, and partnering with Terray Therapeutics to develop novel small molecule therapies through an AI-powered research collaboration.
  • Amazon faces multiple challenges including a Senate Committee report on workplace safety, escalating labor disputes with Teamsters, negotiations with Taiwan over the Kuiper satellite project, and a strike authorization by unionized delivery drivers in Illinois.
  • Nucor and Steel Dynamics anticipate fourth-quarter earnings below analyst expectations, with Nucor projecting earnings between $0.55 and $0.65 per share and reporting significant share repurchases and dividend payments totaling over $2.73 billion year-to-date.

Europe and Asia:

  • Financial stocks, including Barclays, faced declines in premarket trading on Tuesday, with Barclays losing a UK court appeal over unfair car loan practices, potentially leading to a significant consumer redress plan, while also signing a new agreement with ZignSec's subsidiary for enhanced account screening services.
  • Volkswagen is engaged in prolonged negotiations with labor unions, particularly IG Metall, to finalize a cost-cutting deal involving a 10% wage cut, amidst broader discussions on Germany's economic challenges and political strategies ahead of the upcoming election.
  • Nokia is collaborating with Ishan Technologies to enhance broadband services in Gujarat and Maharashtra, India, and is also partnering with Fraunhofer Heinrich Hertz Institute and Charité - Universitätsmedizin Berlin to explore wireless sensing technology for healthcare applications.
  • Carlsberg has successfully acquired British soft drink manufacturer Britvic for approximately 4.8 billion euros, receiving approval from both EU and UK regulators.
  • Stellantis is reportedly planning to boost automotive production in Italy by assigning a new mass-market model to be produced at either the Pomigliano d'Arco or Cassino plant, while also engaging in discussions with French President Emmanuel Macron about the company's role in France, amidst the EU suspending fines on carmakers for 2025 emissions targets.
  • Bunzl PLC projects a 3% revenue increase and strong growth in adjusted operating profit for FY24, despite lowering its profit forecast due to price deflation in continental Europe, while maintaining a positive outlook for 2025.
  • CVC Capital Partners is considering acquiring Vivendi's 24% stake in Telecom Italia, which could lead to a complete takeover and restructuring of the company, while Vivendi aims to reduce its debt and improve its financial standing, amidst a broader surge in the communications sector.
  • Chemring Group PLC announced a 21% increase in pretax profit to GBP53.3 million and a rise in revenue to GBP510.4 million for FY24, with earnings per share reaching GBX15.30.
  • Mercedes-Benz has received approval for its updated high-automated driving system, which now allows for speeds up to 95 km/h on German highways, amidst ongoing discussions in the European Union about new regulations for making cars more resource-efficient and recyclable.
  • SoftBank Group, led by CEO Masayoshi Son, plans to invest $100 billion in the U.S. over the next four years, aiming to create 100,000 jobs.
  • Rio Tinto, BHP, and BlueScope have announced a collaboration to build an electric ironmaking pilot plant in Western Australia, aiming to decarbonize iron and steel production.
  • Walmart is partnering with Meituan to enhance its e-commerce sales in China, while Meituan is also expanding its grocery delivery service to Saudi Arabia via its Little Elephant Supermarket app.
  • The Biden administration is gearing up to initiate a trade investigation into China's manufacturing of older-model semiconductors.
  • Alphabet's Waymo is entering Japan's market through a partnership with Nihon Kotsu and GO, while TikTok faces a US ban discussed by the Supreme Court over national security concerns.
  • Australia's Competition and Consumer Commission is suing Exxon Mobil's local brand for allegedly misleading consumers about the fuel quality at six stations in Queensland.
  • Chinese shares fell for the third consecutive session despite BYD, a major electric vehicle manufacturer, reaching a production milestone of over 1 million vehicles at its Xi'an plant.
  • Eli Lilly and EVA Pharma have secured approval from the Egyptian Drug Authority to produce insulin glargine locally in Egypt.
  • Taiwan is launching 'Chips Team Taiwan,' a new initiative aimed at boosting local production of satellites, drones, and robotics by Taiwanese companies.