TSLA (Tesla):- Tesla will be asking shareholders to allow the distribution of additional shares during the annual meeting scheduled for next week so that it might pay a stock dividend, according to a Tesla Company tweeter post. The additional shares will enable the company to separate its stock. Tesla‘s share price increased around 5.4% in the pre-open session.
AAPL (Apple):- According to a report by Japan’s Nikkei news service, Apple Company will cut planned iPhone SE production by around 20% in the next quarter due to the lower-than-expected demand. In the pre-open market, Apple‘s share fell nearly 1.2%.
COIN (Coinbase):- According to a local newspaper, the cryptocurrency exchange operator is nearing a deal to acquire 2TM, the parent organization of Mercado Bitcoin, the largest Latin American cryptocurrency brokerage. As per the newspaper, a deal could be finalized by the end of April. In the pre-open session, Coinbase’s share rose around 4.2%.
BYND (Beyond Meat):- Beyond Meat’s share price slid nearly 5.1% in the premarket trading session following Piper Sandler lowered the stock to “underweight” from “neutral.” Piper Sandler company points to the growing competition for plant-based meat substitutes and also less positive expectations for the impact of a national MCD (McDonald’s) announcement.
POLY (Poly):- HPQ (HP Inc.) agreed to acquire the POLY communications technology corporation for around $40 per share, as compared to Poly’s stock Friday close of nearly $26.20 per share. The companies anticipate that the deal will be complete before the end of the year.
BCS (Barclays):- Barclays fell 3.1% in the pre-open trading session after the British bank disclosed a $592 million loss due to mismanaged bond trades. As a result, the company stated that it would postpone a planned share buyback.
FL (Foot Locker):- Cowen downgraded the athletic apparel and footwear retailer’s stock to “market perform” from “outperform.” Cowen believes that, despite the low valuation, investors might be underestimating the potential impact of inflation. In the pre-open trading session, Foot Locker stock declined around 1.7%.
UBER (Uber Technologies):- Uber has been granted a new 30-month license to run its business in London. The ride-hailing service was at war with regulators over the last five years due to safety issues and was denied its license to operate twice during that time.
AMC (AMC Entertainment):- AMC Company CEO Adam Maximilian Aron stated that the company would strike additional “transformational” agreements after its $27.9 million purchase of silver and gold mine operator HYMC (Hycroft Mining) at the beginning of this month. The AMC stock jumped around 2.2% in the pre-open market, while the Hycroft Mining stock, with a market capitalization of $77.3 million at Friday’s closing – rose approximately 32.8%.
Hasbro (HAS):- Hasbro has rejected a settlement proposal from an activist shareholder Alta Fox Capital overboard nominees, according to the sources familiar with the situation told to the media. Alta Fox Company holds a nearly 2.5% stake in the toymaker, and the two sides have been in negotiations to prevent a proxy fight.
ABOUT AUTHOR
Barry is a lover of everything technology and finance (FinTech). Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.
