In a significant boost for the electric vehicle sector, Fisker (FSR, Financial) has reported a 300% increase in deliveries between the third and fourth quarters, with a total of 4.7K vehicles delivered this year, primarily the Fisker Ocean Ones. The company has manufactured over 10.1K Fisker Oceans this year and is preparing to announce a plan to further increase sales and deliveries in January. Fisker's stock surged by approximately 9% in premarket trading following the update.
Alphabet’s Google (GOOGL, Financial) (GOOG, Financial) has made headway in a long-standing class action lawsuit regarding privacy concerns with its Chrome browser's Incognito mode. The tech giant has reached a preliminary settlement, with formal terms expected to be presented for court approval by February 2024. This development comes after a federal court ruling last week that denied Google's request to exclude substantial evidence, moving the company closer to a final settlement.
UnitedHealth Group (UNH, Financial) has announced the sale of its Brazilian operations to a private investor, expecting to incur a one-time charge of nearly $7 billion. The transaction is anticipated to close in the first half of 2024, and while it will impact the company's net earnings outlook for 2024, UnitedHealth has reaffirmed its adjusted earnings outlook for the year.
Publishers such as News Corp. (NWS, Financial) (NWSA, Financial), IAC (IAC, Financial), and Gannett (GCI, Financial) are reportedly in discussions with OpenAI to license their content, addressing legal concerns about the use of third-party content in training AI. Microsoft (MSFT, Financial), OpenAI's largest investor, is also said to be involved in the talks. This news follows recent negotiations just days after The New York Times Company (NYT) reported similar discussions.
Microbot Medical (MBOT, Financial) has entered into an agreement for the immediate exercise of certain outstanding preferred investment options, expecting to raise approximately $2.73 million in gross proceeds. However, the company's stock price fell by 22% in premarket trading on Friday.
JD.com (JD, Financial) has emerged victorious in a lawsuit against Alibaba (BABA, Financial), which has been fined 1 billion yuan for monopolistic practices. The ruling by the High People's Court of Beijing found that Alibaba and its subsidiaries had abused their market dominance, causing significant damage to JD.com.
Huawei Technologies is projecting over 700 billion yuan in revenue for 2023, signaling a solid performance across its various business segments. Despite previous U.S. restrictions, Huawei is showing signs of recovery and is competing with tech giants like Apple (AAPL, Financial) and Samsung (SSNLF, Financial).
Tesla (TSLA, Financial) is reportedly in the final stages of negotiations to establish its first electric vehicle supply system manufacturing unit in India, with an announcement expected at the Vibrant Gujarat Summit in January 2024. The potential investment by Tesla in Gujarat is highly anticipated, although no official confirmation has been made.
Regeneron Pharmaceuticals (REGN, Financial) has filed a new lawsuit against Samsung Bioepis, claiming that its biosimilar version of the eye disease therapy Eylea infringes upon 51 of Regeneron's patents. This legal action follows a favorable ruling for Regeneron in a similar case against Viatris (VTRS, Financial).
Altamira Therapeutics (CYTO, Financial) has regained compliance with Nasdaq's minimum bid price requirement, closing the listing matter and seeing its shares rise by over 18% in pre-market trading.
Fortress Biotech (FBIO, Financial) is facing a 15% premarket loss after announcing a registered direct offering of common stock and warrants, aiming to raise approximately $11 million for various operational purposes.
An Indian financial regulator has called out nine foreign cryptocurrency exchanges, including Binance and Kraken, for operating illegally in the country without adhering to anti-money-laundering laws. India's Financial Intelligence Unit has requested the blocking of these entities' URLs and highlighted the need for compliance with the country's Anti Money Laundering and Counter Financing Terrorism framework.
