The Strategist
Companies & CEOs

Court orders Musk to testify before SEC about Twitter purchase - 02/12/2024

The California judge ruled that Elon Musk will have to appear before the Securities and Exchange Commission (SEC) once more as part of an inquiry into potential irregularities in the acquisition of Twitter in 2022. Billionaire Elon Musk will have to appear again before the Securities and Exchange Commission (SEC) in the federal court in California as part of an inquiry into potential violations...

Pioneer shareholder suspects the company of withholding information its buyer Exxon - 02/12/2024

According to Bloomberg Law, the Operating Engineers Construction Industry and Miscellaneous Pension Fund sued Pioneer Natural Resources Co., a producer of oil and gas in the United States, in Delaware Chancery Court to obtain its internal documents so that they could evaluate the management's actions during the company's merger with ExxonMobil. The fund, which owns a portion of Pioneer, is...

Deutsche Boerse’s operator increases quarterly profit and revenue - 02/09/2024

Deutsche Boerse AG, the exchange’s operator, saw a 13% increase in net profit and a 20% gain in revenue in Q4. The company's net profit for October through December of 2023 was €427.4 million, up from €378.9 million in the same period the previous year. EPS increased from €1.96 to €2.2. Revenue increased to €1.436 billion from €1.168 billion in the previous year. EBITDA for Deutsche Boerse...

Maersk shares lose 17% after halting share buybacks amid disruptions in Red Sea - 02/09/2024

Maersk's stock dropped 17% in Copenhagen following the release of its projections. Following the release of statements and projections, shares of the Danish shipping corporation Maersk dropped 17% during trading in Copenhagen on February 8, according to CNBC.  Maersk stated in its 2024 earnings projection that there is a lot of uncertainty because of Hussite attacks and an excess of...

Toyota to invest $1.3 billion more in Kentucky flagship plant - 02/08/2024

According to a press release from the company's U.S. division, Japanese carmaker Toyota Motor plans to invest an additional $1.3 billion on its flagship facility located in Kentucky. Consequently, the firm will receive almost $10 billion in total investments. The additional funding is intended to further the electrification of transportation, namely by creating the possibility of building a...

Activists withdraw proposal to Exxon for additional emissions reductions - 02/05/2024

The Financial Times reports, referring to a statement released by the climate group Follow This, that the group has opted to remove a proposal it had intended to include on the agenda of US ExxonMobil's annual shareholders meeting, which aimed to hasten the reduction of greenhouse gas emissions. To stop the plan, Exxon filed a lawsuit in a Texas district court last week. "Given that Exxon chose...

Retailer Shein faces more than 90 lawsuits in the US over copyright infringements - 02/05/2024

The Financial Times reports that Asian online apparel company Shein, which is getting ready to go public on the US stock market, has been charged with many copyright violations. At least ninety-three designers and businesses have sued Shein in US courts since 2018. Thirty additional cases have been filed in 2023 alone. Hennes & Mauritz (H&M), a multinational retail conglomerate, and...

EC allows Pirelli and PIF to set up tires production in Saudi Arabia - 02/02/2024

The Public Investment Fund (PIF) of Saudi Arabia and Pirelli of Italy have been granted permission by the European Commission to establish a joint venture specializing in tires within the kingdom. "Considering that the joint venture does not now operate in or intend to operate in the European Economic Area, the Commission has determined that the proposed acquisition would not give rise to...

Cigna to sell assets, including Medicare segment, for $3.7B - 02/01/2024

Health Care Service Corp. (HCSC) will purchase US health insurer Cigna Corp.'s Medicare national insurance program business and subsidiary CareAllies, which provides services to healthcare organizations, for about $3.7 billion, the company announced. It is anticipated that the deal would be finalized in 2025's first quarter. Share repurchases will be financed mostly by the proceeds. For the...

Alphabet's profit rises to $73.8B - 01/31/2024

The US holding corporation Alphabet Inc., which controls Google, announced in a release that its net profit for 2023 climbed by 23% year over year to $73.795 billion. For the period, diluted earnings per Class A, B, and C share were $5.8, up from $4.56 in the prior year. The company's revenue grew by 8.6% to $307.394 billion in the previous year. Alphabet's fourth-quarter net income rose by 1.5...
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