As the financial sector remains under the spotlight, Morgan Stanley (MS, Financial) and Goldman Sachs (GS, Financial) are poised to reveal their quarterly results, following a wave of earnings reports from major banks. The week ahead, despite the market closure on Martin Luther King, Jr. Day, is brimming with earnings announcements from key players across various industries. Industrial giants such as Alcoa (AA, Financial) and PPG Industries (PPG, Financial), energy firms like Kinder Morgan (KMI, Financial) and Schlumberger (SLB, Financial), and the semiconductor leader Taiwan Semiconductor (TSM, Financial) are all set to share their financial performance, offering a comprehensive look into their respective sectors as the new year unfolds.
Amidst regulatory challenges, Nvidia (NVDA, Financial) has been reported to have its semiconductors, which are banned from export to China, purchased by Chinese military entities and public universities with alleged military ties. Despite the ban, tender documents reveal that chips like Nvidia's A100 and H100 have been acquired, raising concerns over their use for AI development, although the quantities are reportedly insufficient for building a large language model from scratch.
Apple (AAPL, Financial) is making a strategic move in the competitive Chinese market by offering rare discounts on its iPhones, with price cuts reaching up to 500 yuan (around $70). This promotion, which coincides with the Lunar New Year celebrations, marks a significant shift for Apple, which has not reduced its iPhone prices in years. The discount extends to other Apple products, signaling the tech giant's efforts to maintain its market presence amidst rising competition.
Novo Nordisk (NVO, Financial) has addressed a temporary shortage of its weight loss drug Wegovy by resuming shipments of the 1.7 mg dose in the United States. The drug had been listed with limited availability on the FDA's drug shortage list, alongside lower strength doses. Despite this hiccup, the larger 2.4 mg dose remains available, reflecting the company's commitment to meeting the demand for this obesity treatment.
The Cannabist Company Holdings (CBSTF, Financial) has undergone a significant leadership change, with David Hart stepping up as the new CEO and Jesse Channon taking on the role of President. This transition comes as the company continues to navigate the evolving cannabis industry, with Nicholas Vita remaining as a Director to provide continuity and experience to the board.
Thomson Reuters (TRI, Financial) has strategically increased its stake in Pagero Group AB, becoming the majority shareholder and subsequently raising its public tender offer for the remaining shares. This move underscores Thomson Reuters' commitment to expanding its digital footprint and solidifying its position in the global market.
U.S. lawmakers have reached a consensus on a temporary spending bill to prevent a government shutdown, extending funding for various agencies into early March. This agreement reflects the ongoing efforts to ensure the continuity of government operations while longer-term budgetary and policy decisions are being negotiated.
Victoria Gold (VGCX, Financial) has reported robust gold production for the fourth quarter of 2023, with a total annual output that underscores the company's operational success. This performance highlights Victoria Gold's position in the mining sector and its potential for continued growth.
TEGNA (TGNA, Financial) and DIRECTV have successfully negotiated a new multi-year distribution agreement, ensuring that TEGNA's owned stations return to DIRECTV's platforms. This resolution benefits customers and reflects the importance of collaborative agreements in the media and broadcasting industry.
