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Tesla unveils the new Model S Plaid, Chewy’s earnings smash expectations, Royal Caribbean’s cruise is hit by the coronavirus, and a number of companies announce plans to go public including ride-hailing firm Didi, sporting goods retailer Signa and UK firm Vertical Aerospace. ....
UPS said revenue could jump by over 20% in 2023 compared to 2020. The logistics giant said revenue in 2023 is expected to come in between $98 billion and $102 billion. Analysts forecast UPS would report $100.1 billion in revenue that year. For perspective, that compares to the $84.6 billion in annual revenue reported in 2020. It has not provided guidance for the current financial year due to the uncertainty spawning from the pandemic, but reported a 27% rise in revenue during the first quarter with triple-digit growth in profits. Merck The US government has agreed to buy around $1.2 billion worth of Merck’s experimental coronavirus treatment named molnupiravir. The drug is currently undergoing Phase 3 trials on non-hospitalised patients suffering from the virus, but is yet to be authorised for use. The US government has agreed to buy up to 1.7 million courses of the drug and Merck intends to have up to 10 million available by the end of this year. ....
Facebook faces investigations in the UK and Europe, Pershing Square Tontine on cusp of striking largest-ever SPAC deal to buy stake in Universal Music, reports suggest Tesla sales in China have collapsed, Disney’s chairman sells shares for $100 million, and Broadcom and Lululemon beat expectations. ....
AMC milks the rise in its share price by raising more equity, Medtronic halts sales of its heart device, Delta Air Lines expects to return to profit later this year, FireEye sells its products business, there’s a shake-up to ExxonMobil’s board, and Broadcom is due to release results later. ....
AMC remains in focus after reports that Mudrick flipped the stock yesterday, Etsy agrees to buy Depop, the boss of Tyson Foods abruptly leaves, Tesla recalls thousands of cars, Canaan defends crypto mining, Zoom beats expectations, and Moderna plans to tinker with its vaccine. ....