Daily US Stock Market News Briefing (April 2, Wednesday)
Important News
- The U.S. March ADP employment figure is 155,000, expected 115,000, previous value 77,000.
Individual Stock News
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Market news: Swedish insurance company Folksam sold all its shares in Tesla (TSLA.O) citing employee union rights.
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Qualcomm (QCOM.O) confirmed it is considering making a takeover bid for semiconductor company Alphawave IP Group, but it is currently uncertain whether a formal offer will be made and what the potential terms will be.
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According to informed sources, Visa (V.N) has offered Apple (AAPL.O) about $100 million in chips, intending to seize exclusive cooperation rights for Apple’s credit card from Mastercard (MA.N).
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Wells Fargo downgraded its rating on Tesla (TSLA.O) stock from neutral to underweight, significantly cutting the target price by half to $130.
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Lululemon (LULU.O) stated at its Q4 2024 earnings conference that the company expects full-year revenue for 2025 to be between $11.15 billion and $11.3 billion (growth of 5%-7%), plans to open 40-45 net new stores (10-15 in the Americas, mostly in international markets in China), and complete about 40 optimizations, with an area increase of about 10%.
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WeRide announced a strategic partnership with Uber and the Dubai Roads and Transport Authority to collaborate on launching robotaxi autonomous driving services in Dubai.
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Trump Media & Technology Group (DJT.O) applied to issue an additional 134 million shares of common stock.
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Rivian (RIVN.O): Delivered 8,640 vehicles in the first quarter, with market forecasts at 8,610 vehicles. Maintains delivery range guidance for 2025