US stocks must read before the market: Three major stock index futures fell, Nokia rose more than 7%
As of press time, Dow futures, dominated by blue-chip stocks, fell 0.23%; S&P 500 futures fell 0.19%, and Nasdaq 100 futures, dominated by technology stocks, fell 0.01%.
【Economic News】
Russia's oil output up 3.4% in first half year
Russian Ministry of Energy: Russia's oil production increased by 3.4% in the first half of this year; knowing that Russian products are sufficient, parallel imports of some commodities will be canceled soon.
Italian Prime Minister Draghi formally submits his resignation
Italian Presidential Palace issued a statement saying that Prime Minister Draghi formally submitted his resignation. Italian President Mattarella asked Draghi to remain as caretaker prime minister.
【Company News】
GM GM 0.00%↑ and Ford F 0.00%↑ apply to deploy steering wheelless self-driving cars in the U.S.
General Motors and Ford are seeking waivers from U.S. authorities to ease some of the rules related to self-driving car testing, said NHTSA Administrator Steven Cliff. Two automakers, GM and Ford, have reportedly asked the U.S. auto safety watchdog for a waiver to deploy a limited number of self-driving cars without human controls such as steering wheels and brake pedals. NHTSA published the companies' petition on July 20 and opened it for public comment for 30 days.
Tesla TSLA 0.00%↑ plans to start production of 4680 cells at Texas Gigafactory this quarter
Drew Bagrino, Tesla's senior vice president of powertrain and energy engineering, confirmed that the automaker plans to officially begin production of the 4680 cells at the Gigafactory in Texas this quarter.
Nokia's NOK 0.00%↑ second-quarter results exceeded expectations, net profit increased by 31% year-on-year
On July 21, Nokia announced its second-quarter earnings that exceeded expectations. Data show that the company’s Q2 net sales reached 5.87 billion euros, an increase of 11% year-on-year, higher than market expectations of 5.6 billion euros; net profit was 460 million euros, a year-on-year increase of 31%; comparable operating profit was 714 million euros, an increase over the same period last year. 5%, higher than analysts' forecast of 636.52 million euros; diluted earnings per share of 0.08 euros, a year-on-year increase of 33%.
Pfizer PFE 0.00%↑ fined £63m by UK regulator
Britain's antitrust watchdog on Thursday fined Pfizer and Flynn pharmaceutical companies £63m and £6.7m, respectively, over a seizure drug they sold to the NHS System (NHS) charges are too high.
Samsung SDI plans to invest US$1.3 billion to build battery factory in Malaysia
South Korea's Samsung SDI will build a second battery plant in Malaysia to boost production of cylindrical batteries used in electric vehicles and electronic devices. In May, Samsung SDI announced plans to partner with Stellantis to invest $2.5 billion to build its first U.S. battery plant in Indiana.
SkyWater SKYT 0.00%↑ plans to invest $1.8 billion to build chip factory in Indiana
U.S. semiconductor maker SkyWater Technology announced Wednesday that it plans to invest $1.8 billion to build a chip research and production facility in the state in partnership with Indiana and Purdue University.
Lyft LYFT 0.00%↑ to close its car rental business amid labor shortage
In response to labor shortages and falling stock prices, ride-hailing giant Lyft said on Wednesday it would shut down its car rental business and cut about 60 jobs. The layoffs, which affect less than 2% of Lyft's roughly 4,600 employees, are largely concentrated in the rental sector.
United Airlines UAL 0.00%↑ made its first profit since the epidemic in Q2, but it was lower than expected, and it is expected to be profitable for the whole year
After the bell on Wednesday, United Airlines announced its second-quarter earnings. The company turned a profit for the first time since the pandemic, but missed expectations and fell 7.15% to $38.7 in after-hours trading. According to the financial report, United Airlines’ Q2 revenue reached $12.11 billion, an increase of 6% over the same period in 2019, a record high for the same period; net profit was $329 million, a year-on-year turnaround; earnings per share were $1.43, lower than analysts’ expectations of $1.88.
Mattel MAT 0.00%↑ will partner with SpaceX to make space toys
Mattel, the maker of Barbie dolls, said on July 20 that it had signed a multi-year agreement with SpaceX, the rocket company of the world's richest man Elon Musk, to develop space exploration-themed toys.
Shell SHEL 0.00%↑ reportedly plans to sell shares in two oil fields in the U.S. Gulf of Mexico, valued at about $1.5 billion
Shell is considering selling its stake in two oil and gas developments in the U.S. Gulf of Mexico, which could raise as much as $1.5 billion for the energy company, people familiar with the matter said on Wednesday.
【Analyst Rating】
Amazon AMZN 0.00%↑ : Jefferies lowered its price target to $150 from $163 to account for uncertainty from incremental costs.
Biogen BIIB 0.00%↑ : Cowen lowered its price target to $270 from $285, citing risks in clinical trials of lecanemab.
CSX CSX 0.00%↑ : Credit Suisse raised its price target to $37 from $35, citing better-than-expected second-quarter results.
Docusign DOCU 0.00%↑ : Piper Sadler downgraded to underweight from neutral, saying the company's risk profile remains high amid CEO turnover, rapid employee turnover and a deteriorating macro environment.
Tesla TSLA 0.00%↑ : Cowen raised its price target to $733 from $700, saying the company manages its supply chain well.
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