Corporate results:

  • Goldman Sachs: The bank profit rose 28% in the first quarter, buoyed by a recovery in debt underwriting and dealmaking that boosted its investment banking unit.

In other news:

  • Apple's smartphone shipments fell by around 10% in the first quarter of 2024, penalized by intensifying competition from Android smartphone manufacturers, according to figures revealed Sunday by a study from IDC. 
  • Italy's Prysmian is to acquire American group Encore Wire in a friendly takeover bid for around $4.2 billion in cash (USD 290 per share).
  • Salesforce is in advanced talks to acquire data management software provider Informatica, the Wall Street Journal reported on Friday, citing people familiar with the matter. 
  • Boeing, Spirit Aerosystems - The aerospace supplier is limiting overtime and hiring due to lower production of 737 MAX aircraft from U.S. manufacturer Boeing, which is facing quality issues after an in-flight incident on an Alaska Airlines plane in early 2024, Spirit told Reuters on Friday.
  • Tesla said on Friday it had cut prices for its FSD full autonomous driving software subscriptions in the US and Canada, amid slowing demand and price competition. Technology website Electrec also reported on Monday that the automaker would be cutting more than 10% of its workforce. 
  • Defense sector - Tensions in the Middle East support military groups. Lockheed Martin, Rtx, Northrop Grumman, and General Dynamics gain between 1% and 2% before the opening.
  • Semi-conductors - The U.S. government will provide up to $6.4 billion in subsidies to Samsung to expand its chip production in Texas, as part of a broader effort to develop chip manufacturing in the U.S., the Commerce Department said Monday.
  • CVC Capital Partners plans to go public in Amsterdam.
  • Salesforce is in advanced talks to buy Informatica, according to the WSJ.
  • Glanbia agrees to acquire flavor producers for up to $300 million, plus deferred consideration
  • Moderna - The U.S. drugmaker's lawsuit against Pfizer and BioNTech for infringement of its patent rights in their COVID-19 messenger RNA vaccine will be stayed while the U.S. Patent Office determines whether two of the three Moderna patents in question are valid, a Massachusetts federal court ruled Friday.
  • Novavax - US hedge fund Shah Capital wrote to the company's board of directors on Monday to request the appointment of two new independent directors, the Financial Times reported on Monday.
  • Johnson & Johnson - The South African Health Products Regulatory Authority announced on Saturday that it was recalling batches of Johnson & Johnson children's cough syrup after detecting high levels of diethylene glycol. The affected lots were sold in South Africa, Eswatini, Rwanda, Kenya, Tanzania, and Nigeria, according to the statement.
  • Medical Properties Trust said Friday it would sell a majority stake in five Utah hospitals for $886 million.
  • Blackbaud - Clearlake Capital said Monday it would buy the group at a price valuing it at $4.3 billion.
  • Snap One - Resideo Technologies will buy the group for $1.4 billion, including debt. Snap One gained 29% before the opening.
  • Warner Music Group - Hollywood artists have reached a tentative agreement with major record companies such as Warner Music Group and Sony Music Entertainment, which includes minimum wage increases and protections against the use of artificial intelligence (AI).
  • New York Community Bancorp appointed Craig Gifford as CFO on Friday to succeed John Pinto, as the bank seeks to regain investor confidence after revealing errors in its financial reports earlier this year.
  • Samsung overtakes Apple as the world's leading smartphone vendor in Q1, according to IDC figures.
  • China Vanke acknowledges that it is under financial and operational pressure, but says it has put in place measures to cope (stock rises).
  • United States Steel - The steelmaker's shareholders on Friday approved the planned $14.9 billion takeover of the group by Japanese rival Nippon Steel, bringing the merger a step closer to completion, even as political opposition to the deal intensifies.
  • Encore Wire - Prysmian, the world's largest cable manufacturer, is to acquire US-based Encore Wire for an enterprise value of around 3.9 billion euros ($4.15 billion), the two companies said on Monday.