WeWork Inc (NYSE:WE) shares slumped a further 5.4% in Tuesday’s premarket deals, after it elected to withhold interest payments on five of its bonds, initiating a 30-day grace period before a potential default.
The co-working firm withheld $37.3 million in cash and $57.9 million in in-kind payments, despite having the liquidity to make the payments, according to SEC filings. Read more
Oddity Tech (NASDAQ:ODD), up 17%, primed investors for a strong rise in third-quarter revenue, sending its shares soaring in Tuesday pre-market trading.
Releasing preliminary results for the quarter ended September 30, 2023, the health and wellness-focused technology company said it expects its results to reveal its “strongest third quarter ever,” exceeding its own forecasts.
Tesla Inc (NASDAQ:TSLA) can cheer a court win, albeit investors are evidently still stuck on yesterday’s worse-than-expected quarterly delivery numbers.
Today, the electric vehicle maker celebrated something of a win after a judge ruled that a group of owners of its cars, who claimed the company used misleading information to market its autopilot features, will need individual arbitration rather than pursuing a class-action suit.
‘Legacy’ motor firms Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM) and Stellantis NV (NYSE:STLA, EPA:STLA) saw their stock somewhat steady ahead of today trading, as the industrial dispute continues, and, amidst new reports that could turn out to be costly.
The car makers could collectively be hit with fines worth well over US$10 billion under proposals on fuel economy standards in the US. 'Revisions to Corporate Average Fuel Economy' requirements, aimed at encouraging the production more efficient, or electric, vehicles, could see the manufacturers paying US$2,151 per vehicle. Read more
WK Kellogg (Kellogg Company (NYSE:K)LG) & Kellanova (NYSE:K) each saw some relief in premarket deals, with each up around 1% in early deals.
Yesterday, the market saw the parts as less than the sum, with the cereal maker and the Pringles snack spin-out both falling around 11% as they began trading separately in New York.
The split saw shareholders received one share of WK Kellogg for every four shares of Kellogg they owned as of September 21. Read more
Meta Platforms Inc (NASDAQ:FB), up 0.45%, may make subscribers in the European Union pay for ad-free access to Facebook and Instagram, according to a report in the Wall Street Journal.
The move would be the company’s latest effort to address EU rules around users’ personal data.
Novo Nordisk (NYSE:NVO), Europe's largest drugs company, down 1%, told investors its once-monthly injection, Rivfloza, has received approval from the US Food and Drug Administration (FDA) for treating a rare genetic kidney condition known as primary hyperoxaluria.
Rivfloza employs RNA interference technology (RNAi) to silence or neutralise genes that contribute to the disease. Read more
Manchester United Plc (NYSE:MANU) stock market investors are evidently uninspired by Sir Jim Ratcliffe’s mooted proposal to now acquire only a 25% stake and join the Glazer family in co-ownership of the club.
Alternative media reports, meanwhile, claim the Qatari businessman Sheikh Jassim bin Jaber Al Thani ‘still wants to complete’ a full takeover, as his unanswered £5 billion takeover offer remains the ‘highest’ offer made to the Glazers, who are said to be holding out for a larger valuation.
In New York, Manchester United stock was indicated just 0.2% higher in early premarket dealing at $19.45 valuing the football club at just over £3 billion.