Palantir Technologies Inc (NYSE:PLTR) on Monday beat Wall Street estimates for first-quarter revenue and raised its full-year forecast, driven by surging demand for its artificial intelligence software in the US commercial market.
Revenue rose 39% from a year earlier to $884 million in the quarter ended March 31, topping analysts' average estimate of $862.8 million, according to LSEG data. Adjusted earnings per share came in at $0.13, in line with expectations.
Apple Inc (NASDAQ:AAPL, ETR:APC) is planning to tap the US investment-grade bond market on Monday with a multi-part debt offering, marking the iPhone maker’s first corporate bond sale in two years, Bloomberg reported.
The tech giant is preparing to issue debt in as many as four tranches, with initial price discussions on the longest portion – a 10-year note – around 70 basis points above comparable U.S. Treasuries, a source told Bloomberg.
Shares of Berkshire Hathaway Inc (NYSE:BRK.A) fell 4.6% on Monday morning after the company announced that Greg Abel will take over as CEO at the start of next year, succeeding Warren Buffett after more than six decades at the helm.
The leadership transition was approved unanimously by Berkshire’s board following Buffett’s weekend announcement to shareholders. The 94-year-old billionaire will remain chairman of the board.
Skechers USA (NYSE:SKX)’ shares jumped 25% at the opening bell Monday, following news that the company is being acquired by investment firm 3G Capital for $9 billion.
The acquisition offer of $63 per share represents a 30% premium over Skechers' recent stock price.
Sunoco LP (NYSE: SUN) said on Monday it will acquire Parkland Corp (TSX: PKI) in a cash-and-equity transaction valued at $9.1 billion.
As part of the deal, Sunoco will create SUNCorp, LLC, a new publicly traded entity that will hold limited partnership units of Sunoco, equivalent to its common units.
Shares of Netflix Inc (NASDAQ:NFLX, ETR:NFC) fell nearly 5% and Walt Disney Co (NYSE:DIS, ETR:WDP) dropped 3.2% in premarket trading on Monday after US President Donald Trump said he plans to impose a 100% tariff on films produced overseas.
In a post on Truth Social late Sunday, Trump announced he had directed the Commerce Department and the US Trade Representative to “immediately begin the process of instituting” the tariff, which he framed as part of his effort to boost domestic film production.
Tesla Inc (NASDAQ:TSLA) shares were set to open lower on Monday as the company faces growing pushback in Europe linked to Elon Musk’s role in the new Trump administration.
The political fallout has coincided with sharp sales declines across key European markets, including Spain, Germany, and the Nordic region.
Exxon Mobil Corp (NYSE:XOM, ETR:XONA) and Chevron Corporation (NYSE:CVX, ETR:CHV) traded lower ahead of Monday’s opening bell, tracking a sharp decline in oil prices after OPEC+ agreed to a significant supply boost.
Brent crude fell as much as 4.6% before trimming losses, amid concerns the alliance’s output increase could flood a weakening market already rattled by US–China trade tensions.