Today's News
President Biden has decided to block Nippon Steel's proposed acquisition of US Steel (X, Financial), emphasizing the importance of maintaining a domestically owned steel industry for national security. This decision halts a significant $14.1 billion deal that had been under review by the Committee on Foreign Investment in the U.S. and leaves US Steel without the nearly $3 billion investment from the Japanese company, potentially affecting its operations.
Apple (AAPL, Financial) has announced new features for its Fitness+ service, including programs for strength, pickleball, yoga, and breath meditation. The service is also integrating with Strava to enhance user experience and offering a special trial for Strava subscribers. These updates aim to support diverse fitness journeys and will be available starting January 6 on various Apple devices.
Rivian Automotive (RIVN, Financial) reported better-than-expected production and delivery numbers for Q4, with 12,727 vehicles produced and 14,183 delivered, surpassing analyst estimates. For the full year 2024, Rivian produced 49,476 vehicles and delivered 51,579, aligning with its guidance. The company has overcome previous production constraints and is set to release its Q4 earnings on February 20.
Apple's (AAPL, Financial) App Store revenue saw a notable increase, with a 13% growth in December and 15% in the fiscal first quarter, according to Bank of America. The growth was driven by strong performance in regions like the U.S., EU, Turkey, and Thailand. Despite hardware challenges in China, the App Store achieved a 7.2% year-over-year growth there.
Tesla's (TSLA, Financial) sales in China hit a record high in December, with 83,000 units sold, marking a 12.8% month-over-month increase despite global delivery declines in 2024. Overall, Tesla sold 657,000 units in China, an 8% year-over-year increase, highlighting China as a key market amid competitive pressures.
Boeing (BA, Financial) is implementing new surprise inspections and quality checks at its factories to address a manufacturing quality crisis. These measures include random quality checks on plane parts and additional training for workers, aiming to improve overall production standards and comply with federal regulations.
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