Incannex Healthcare Ltd (ASX:IHL, NASDAQ:IXHL) has completed a constructive pre-Investigational New Drug (IND) application meeting with the US Food and Drug Administration (FDA) for its IHL-675A proprietary drug targeted at the treatment of rheumatoid arthritis (RA).
IHL-675A is a combination of cannabidiol (CBD) and hydroxychloroquine sulphate designed to address inflammatory disorders including RA.
Visa Inc (NYSE:V) after Tuesday’s closing bell reported fiscal third-quarter 2023 net income of $4.16 billion, or adjusted earnings of $2.16 per share, which surpassed the Zacks Investment Research consensus estimate of $2.11 per share.
The global payments processor generated revenue for the period of $8.12 billion, which also beat estimates of $8.06 billion, as the company cited 'resilient' spending as travel recovery continues.
Microsoft posted a fiscal fourth-quarter 2023 earnings beat but its stock fell on a modest decline in the growth of its cloud platform Azure from the previous quarter.
For 4Q, which ended June 30, 2023, the company reported a 21% jump in diluted earnings per share (EPS) to $2.69. Revenue increased by 8% to $56.2 billion.
Coca-Cola is scheduled to report earnings before the opening bell Wednesday, and analysts at Barclays believe the company could outperform Street expectations.
The consensus for Coca-Cola’s second-quarter results is revenue of $10.56 billion and earnings of $0.65 per share. Barclays, meanwhile, projects EPS of $0.74. In terms of sales, the consensus expectation is 3.9% growth, but Barclays projects 4.8%.
AT&T Inc will be looking for good news when the company reports second-quarter earnings Wednesday morning, particularly after its stock hit a fresh 52-week low last week.
The telecommunications giant has seen its share price decline 21% over the past year, thanks in part to recent reports that AT&T, Verizon and others were aware that the lead cables used as phone wires caused employees to have abnormally high amounts of lead in their blood.
Amazon.com Inc (NASDAQ:AMZN) will pay about 15% less for iRobot Corporation (NASDAQ:IRBT) after the vacuum cleaner maker entered into a $200 million financing facility to fund its ongoing operations.
The two companies said in a statement that under the amended terms of their merger agreement, Amazon will pay $51.75 per share for iRobot, instead of the $61 previously agreed. That values the deal at about $1.44 billion, down from $1.7 billion.
RTX shares tumbled after it disclosed a defect with its Pratt & Whitney engines that power Airbus A320neo jets that will require the accelerated removal from service and inspection of the airplanes.
The Pratt & Whitney parent company said on Tuesday that a rare condition in the powder metal used to manufacture certain engine parts requires an accelerated fleet inspection.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has closed a previously announced brokered private offering for gross proceeds of more than $2.5 million.
The company offered over 6 million units, each consisting of one common share and one share purchase warrant, at a price of $0.42 each for total proceeds of $2,546,203.
The Sherwin-Williams Company (SHW) has announced record second revenue and upped its full-year profit and sales guidance, sending its shares higher.
Shares of the Cleveland-based paint company added 4.7% at US$280.67 late morning on Tuesday.
Chesapeake Financial Shares Inc. (OTCQX:CPKF), the parent company of Chesapeake Bank and Chesapeake Wealth Management, told investors that its asset quality remains “extremely good,” as it reported a slight increase in total assets to over $1.35 billion for the second quarter of 2023.
For the period ended June 30, 2023, the Kilmarnock, Virginia-based community bank reported non-performing assets at 0.327% compared to 0.460% a year earlier. The net interest margin was 3.45% for the quarter, lower than the 3.74% for 2Q 2022.
Arizona Silver Exploration Inc issued an update on its Silverton carbonate-hosted gold exploration property in Nevada following a combined helicopter-borne magnetotelluric (MT) and magnetic survey flown over the entire property in March.
The survey was used to create a 3D data set to aid in mapping resistivity changes and structures down to the depth limit, the company said. The goal was to identify signature features that characterize Carlin-type gold deposits, which are hosted in sediment.
Packaging Corporation of America, the third largest producer of containerboard products in North America, shares rose by more than 10% after its second quarter results topped expectations, despite both its profit and revenue falling year-over-year.
For 2Q, it posted earnings per share of $2.31, down from $3.23 in the year-ago quarter but above the Street’s expectation of $1.96, per Zacks Consensus Estimate.
Twitter’s shift to becoming ‘X’ has begun.
Larry the blue bird has been wiped from the social media platform, replaced by the new interim black and white ‘X’ shaped logo.
Warren Buffett’s investment firm Berkshire Hathaway is doubling down on fossil fuels, continuing to make multi-billion dollar investments in the sector.
Rather than cashing in the profits it made from its early pandemic energy investments, Berkshire Hathaway is still loading up its oil and gas portfolio despite souring sentiment towards the sector amid poor environmental, social, and governance performance and future demand concerns.
TotalEnergies SE (NYSE:TOT, EPA:TTE) is moving deeper into renewable energy, announcing an agreement to buy the remaining 71% stake in France-based clean power developer Total Eren that it didn’t already own in a US$1.66 billion deal.
The move gives TotalEnergies control of a company with more than 3.5 gigawatts of solar, wind and hydropower in operation, with a project pipeline of more than 10 gigawatts, according to a statement Tuesday.
Dow Inc. (NYSE:DOW) has reported second-quarter revenue and earnings that beat expectations despite a tough period for the company due to lower demand and prices as a result of waning macroeconomic activity.
The company, which provides chemical, plastic and agricultural products and services to a wide range of industries, also warned that conditions are expected to remain challenging for the remainder of its 2023 financial year.
General Electric (NYSE:GE) has reported stronger-than-expected second-quarter earnings, partly due to increased demand at its GE Aerospace division and record Renewable Energy orders as it prepares to spin off the two businesses.
It has also raised its full-year guidance, sending its shares more than 10% higher in early Tuesday trading.
The social media battle continues to rumble on as TikTok, renowned for its short-form video content, launches an option to post just text, not dissimilar to a tweet on Twitter.
Users can add colours, stickers, hashtags and sounds to their text posts in which they can share written content - also like Twitter, Meta's new Threads or its original Facebook platform.
Xerox (NYSE:XRX) stock moved higher after the document management technology and service provider’s second-quarter profit topped expectations and it raised its 2023 guidance.
For 2Q, Xerox (NYSE:XRX) posted adjusted earnings per share of $0.44, up from $0.13 in the year-ago quarter and ahead of the Street expectation per Zacks Consensus Estimate of $0.33.
Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) signed a term sheet last week to advance the construction of infrastructure at its Santander Pipe project in Peru, the company announced.
The company inked the deal with China Railway N° 10 Engineering Group CO. LTD., Sucursal del Perú (CREC10), an engineering and construction company that will provide US$12 million worth of services.
Bridgeline Digital Inc (NASDAQ:BLIN) announced that microwave signals solutions leader Spectrum Control has chosen the company’s artificial intelligence (AI)-based search solution Hawksearch to power their ecommerce platform.
Through a multi-year agreement, the company said it plans to drive conversions on Spectrum Control’s ecommerce platform with Hawksearch features such as Smart Search and Recommendations.
Spotify Technology SA (NYSE:SPOT) has reported a wider second-quarter loss as it incurred additional charges aimed at streamlining its operations and reducing its cost base, sending its shares sharply lower in Tuesday pre-market trading.
The results come a day after the Swedish-based music, podcast, and video streaming service increased the price of its subscription service for the first time in its history, saying the move will help it to continue to deliver value to fans and artists on the platform.
Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) said its recently completed surface time domain electromagnetic (TDEM) and borehole electromagnetic (BHEM) geophysical programs have identified new zones of conductivity at the Gochager Lake project in Saskatchewan, Canada.
The company said the TDEM survey covered approximately 1 square kilometre and defined a moderate-strength zone of conductivity directly over the top of the historic Gochager Lake deposit, extending both to the southwest and the northeast of the deposit area.
Adidas said it now expects to incur a significantly smaller full-year operating loss after making more than half a billion dollars in early sales of its Yeezy stock.
The German sportswear giant trimmed its operating loss forecast to €450mln from €700mln after selling US$565mln worth of Yeezy shoes which were part of rapper Kanye West’s clothing range with the company.
Nike’s stock price could double, according to analysts at UBS, which believe that even the most “bull case” scenario has a high probability of occurring this year.
The broker set a 12-month price target of US$150 while reiterating its Buy rating on the American sportswear giant.
Predictmedix AI Inc. (CSE:PMED, OTCQB:PMEDF) said its fully owned Indian subsidiary, Predictmedix India Private Ltd, has engaged an Indian supplier for the mass production of AI-powered Safe Entry stations.
"We are thrilled to be partnering with our esteemed Indian supplier to accelerate the mass production and deployment of Safe Entry. We are aligning with a supplier that can rapidly deploy thousands of units in a compressed time frame," said Dr. Rahul Kushwah, COO of Predictmedix, in a statement.
Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) said the remaining drill results from holes MTDD047 and MTDD048 and the results from the 2022 drilling campaign on the Mitu Trend at the Solwezi project in Zambia confirm high-grade intercepts.
The company said significant mineralisation was encountered, adding that the copper mineralisation intercepted at Mitu is associated with cobalt, nickel, and anomalous gold.
General Motors Company (NYSE:GM) has raised its full-year earnings guidance for a second time after reporting a better-than-expected second quarter due to a strong response to new trucks and SUVs including the Chevrolet Trax, the Chevrolet Montana and the GMC Sierra HD.
For the three months to June 30, 2023, the auto maker reported revenue of $44.7 billion, up 25% from the same quarter last year. Net income jumped 52% to $2.57 billion and adjusted earnings per share rose 68% to $1.91, ahead of the consensus analyst estimate of $1.73, according to Zacks Investment Research.
Verizon Communications Inc. (NYSE:VZ) has delivered second-quarter earnings that beat expectations, supported by a big improvement in postpaid phone subscribers.
The telecommunications giant reported total broadband net additions of 418,000 over the period to June 30, 2023, which it said reflected strong demand for fixed wireless and Fios products.
3M Co (NYSE:MMM) has swung to a second-quarter loss after the company agreed to pay up to $10.3 billion over the next 13 years to settle legal disputes over toxic water contamination in the US.
The company, known for products like Post-It notes and Scotch Tape, delivered sales of $8.3 billion for the three months to June 30, 2023, down 4.3% year-over-year. It reported a loss of $12.35 per share compared with a $0.14 profit a year earlier.
UK watchdog the Information Commissioner's Office, which is in charge of upholding data protection and GDPR rules, has its eyes on Worldcoin, the cryptocurrency project launched by OpenAI boss Sam Altman.
"We note the launch of WorldCoin in the UK and will be making further enquiries," a spokesperson for the ICO told Reuters.
UK watchdog the Information Commissioner's Office, which is in charge of upholding data protection and GDPR rules, has its eyes on Worldcoin, the cryptocurrency project launched by OpenAI boss Sam Altman.
"We note the launch of WorldCoin in the UK and will be making further enquiries," a spokesperson for the ICO told Reuters.
Elon Musk's rebranding of Twitter to X may encounter significant legal hurdles due to the difficulty in protecting a single letter and because many other large companies have rights associated with it.
Social media rival Meta Platforms Inc (NASDAQ:FB), for example, which recently launched a Twitter rival called Threads, as well as Instagram, Facebook and WhatsApp, owns a 2019 trademark for a blue-and-white letter 'X' covering software and social media.
Banks in the US have been incorrectly reporting their uninsured deposits after dozens of lenders restated figures, according to a government body.
The Federal Deposit Insurance Corporation (FDIC), citing data compiled by S&P Global Market Intelligence, said some 55 banks have revised their deposit data in the last few months amid increased scrutiny.
Wheat prices climbed to their highest since February as Russia mounted large attacks on Ukrainian ports and grain storage facilities on the Danube river.
Futures contracts rose 8.6% on Monday after a Russian drone attack destroyed a grain storage silo in the Ukrainian port of Reni. Corn prices were also 6% higher.
The gap between earnings for workers from different regions has widened further since the start of the pandemic, research from the Institute of Fiscal Studies (IFS) found.
Between February 2020 and May 2023, the mean earnings of workers living in London increased by 5% - when accounting for inflation – to reach £4,400 a month.
Beleagured cinema chains certainly enjoyed their time in the sun this weekend, with Greta Gerwig’s and Christopher Nolan’s Barbenheimer double bill sparking one of the best weekends at the box office in years.
AMC Entertainment Holdings (NYSE:AMC), the largest cinema chain in the US, saw its share price surge over 30% to US$5.85 when the markets opened on Monday in response to the weekend’s nearly half a billion dollars in ticket sales for Gerwig's Barbie and Nolan's Oppenheimer movies.
Apple Inc (NASDAQ:AAPL) is facing a US$1bn (£785mln) class-action lawsuit from UK app developers over the ”abusive pricing” of its App Store commissions.
Led by Professor Sean Ennis from the University of East Anglia Centre for Competition Policy, the call-action represents 1,566 app creators who are challenging the tech giant's "excessive" charges.
A US federal jury in Waco, Texas, has ruled that Google, a subsidiary of Alphabet Inc (NASDAQ:GOOG), infringed on the patent rights of software developer Touchstream Technologies.
The search giant has been ordered to pay $338.7mln in damages.
Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) told investors it has been awarded a new US patent for its process for beneficiating and cleaning biomass.
The company, in a statement, noted that the patent grants it the rights to exclude others from making, using and selling any apparatus or system that includes the company's existing CoalSwitch production technology – including the use of a reaction vessel that increases exposure of biomass, using steam.
Destiny Pharma PLC (AIM:DEST, OTC:DTTYF) has named City grandee Sir Nigel Rudd as its chairman.
The appointment marks a second stint at the Brighton-based company for the former Alliance Boots chair, who has been an investor in the business for the past 20 years.
Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) has said it expects revenue to grow this year but conceded that a delay from Bosch and Weichai in the signing of China joint ventures has reduced its expectations from their peak.
Both Bosch and Weichai have reconfirmed their commitment to signing the China JVs this year, the hydrogen fuel cell company said, but given the delay so far it is “taking a prudent view” that revenues are unlikely to be recognised this year.
American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has identified a new significant rare earth element (REE) deposit in Wyoming, US (Beaver Creek REE project) containing grades between 1.7% and 9.1% of rare earths lanthanum, cerium, neodymium, praseodymium, and yttrium (La + Ce +Nd + Pr + Y).
Golden Rim Resources Ltd (ASX:GMR, OTC:GMRMF) has completed resource expansion diamond drilling at its flagship Kada Gold Project in Guinea, where 23 holes for 4,192.5 metres were drilled across the Massan and Bereko prospects.
The West African gold explorer has outlined a maiden inferred mineral resource of 25.5 million tonnes at 1.1 g/t gold for 930,000 ounces at Kada, 72% of which is shallow oxide-transitional gold mineralisation, and now aims to build on this.
Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) is enthused about visible gold it has discovered at the high-grade RPM Deposit, within its flagship Estelle Gold Project.
The project can be found in the prolific Tintina Gold Belt in Alaska, renowned for its rich gold deposits.
West Wits Mining Ltd (ASX:WWI, OTCQB:WMWWF) has welcomed exploration progress by joint venture (JV) partner Rio Tinto Exploration Pty Limited, with the successful completion of a down-hole electromagnetic (DHEM) survey at the SGC_1 target of the Mt Cecelia Gold Project in Western Australia.
The survey was conducted over three reverse circulation (RC) holes at the farm-in project, which previously intersected gold mineralisation and sulphides, confirming the presence of two conductive plates.
Tamboran Resources Ltd (ASX:TBN, OTC:TBNRF) has awarded John Wood Group plc the contract to select the most suitable concept for its proposed Northern Territory LNG (NTLNG) project at the Middle Arm Sustainable Development Precinct in Darwin.
The company secured exclusivity for the 170-hectare project from the Northern Territory Government last month, where it expects to utilise low reservoir carbon dioxide gas from its Beetaloo Basin projects to produce liquefied natural gas (LNG) by 2030.
Immuron Ltd (NASDAQ:IMRN, ASX:IMC) has enrolled its first cohort of 30 participants into the Travelan® clinical trial to evaluate its efficacy to prevent infectious diarrhea caused by enterotoxigenic Escherichia coli (ETEC).
Travelan® is known to protect against the onset of travellers’ diarrhea (TD), the most common illness reported by travellers.
Lion Copper and Gold Corp said it has granted stock options pursuant to its 20% fixed stock option plan to certain directors, officers, employees and consultants of the company to purchase up to an aggregate of 23,194,737 common shares of the company. The stock options are exercisable at a price of eight Canadian cents (six US cents) per share and expire five years from the date of grant. The company further announced that it has cancelled an aggregate of 5,333,334 restricted share units (RSUs), representing all of the outstanding RSUs of the company.
Baru Gold Corp announced that its board of directors has approved a new shareholder rights plan to ensure the fair treatment of all shareholders in connection with any take-over bid for the company. The plan is not being adopted in response to any specific proposal to acquire control of Baru Gold, nor is the board aware of any pending or threatened take-over bid for Baru Gold, according to the company. At the close of business today, one right will be issued and attached to each common share of Baru’s outstanding shares, while a right will also automatically attach to each common share of Baru Gold issued hereafter. The rights will become exercisable in the event that any person, together with joint actors, acquires or announces its intention to acquire 20% or more of the company’s outstanding common shares without complying with the 'permitted bid' provisions of the plan or in circumstances where the application of the plan is waived in accordance with its terms. The plan will have an initial term of three years. As well, Baru Gold reported that each finder’s warrant issued in connection with the closing of the financing announced on June 22, 2023, shall be exercisable for one company common share for two years from the date such warrant is issued at an exercise price of $0.05 for the first year and $0.10 for the second year. Specifically, 14,000 finder’s warrants shall expire on June 23, 2025.