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Mondelez International Inc. has approved a $9 billion stock repurchase program following reports of a potential acquisition of Hershey Co. The new buyback program will be in effect from January 1, 2025, until the end of 2027, replacing an existing $6 billion authorization. Mondelez remains committed to its capital allocation priorities, including brand reinvestment and a focused acquisition strategy. Stock prices for Mondelez rose 3.7%, while Hershey's declined by 4.9% in response to the news. [Extracted from the article]

Honeywell International Inc. has agreed to sell its personal protective equipment unit for $1.3 billion to Protective Industrial Products Inc., a portfolio company of Odyssey Investment Partners. The deal is expected to close in the first half of 2025, and Honeywell will retain its gas detection operations. This move comes amidst calls from activist firm Elliott Investment Management for Honeywell to break up, with criticisms of its financial results and suggestions to focus on aerospace and automation. Honeywell has been undergoing portfolio changes, including plans to spin off its advanced materials business and recent acquisitions in various sectors. [Extracted from the article]

Honeywell International Inc. has agreed to sell its personal protective equipment unit for $1.3 billion to Protective Industrial Products Inc., a portfolio company of Odyssey Investment Partners. The deal is expected to close in the first half of 2025, and Honeywell will retain its gas detection operations. This move comes amidst calls from activist investors for Honeywell to break up, with recent plans to spin off its advanced materials business and focus on aerospace and automation. Honeywell's shares rose following the announcement of the deal. [Extracted from the article]

Honeywell International Inc. has agreed to sell its personal protective equipment unit for $1.3 billion in an all-cash deal to Protective Industrial Products Inc., a portfolio company of Odyssey Investment Partners. The sale is part of Honeywell's strategic portfolio changes, amidst pressure from activist investors to break up the company. Honeywell will retain its gas detection operations within the Industrial Automation business, and the deal is expected to close in the first half of 2025. [Extracted from the article]

The article from Bloomberg.com reports that US auto stocks and Asian battery makers experienced a decline following news that President-elect Donald Trump intends to eliminate a $7,500 consumer tax credit aimed at promoting electric vehicle adoption. The subsidy, a key component of President Joe Biden's climate bill, could significantly impact EV adoption in the US. While Tesla and Rivian were among the companies affected by the news, Tesla's CEO Elon Musk expressed confidence in the company's ability to navigate the potential changes in incentives. The potential elimination of the tax credit could have broader implications for EV sales in the United States, according to industry experts. [Extracted from the article]

US automaker stocks, including Tesla and Rivian, dropped after reports that President-elect Donald Trump plans to eliminate the $7,500 consumer tax credit for electric vehicles. This move, part of a broader tax-reform effort, could significantly impact EV adoption in the US, which has already faced challenges due to high vehicle prices and limited charging infrastructure. While Tesla CEO Elon Musk supports the end of the credit and believes his company can adapt, experts warn that removing this incentive without a replacement could hinder EV sales in the country. [Extracted from the article]

President-elect Donald Trump is reportedly planning to eliminate the $7,500 consumer tax credit for electric-vehicle purchases, causing shares of US automakers like Rivian and Tesla to fall. This move is part of a broader tax-reform effort by Trump's transition team, with representatives of Tesla Inc. also supporting the end of the credit. Repealing the subsidy, a key component of President Joe Biden's climate bill, could hinder EV adoption in the US, impacting companies like Rivian and Tesla. [Extracted from the article]

Clear Secure Inc. experienced a significant drop in its stock value due to a slowdown in new users of its annual membership service, Clear Plus. The company reported a minimal increase in active members in the third quarter, raising concerns about its growth potential. Clear, which offers expedited security services at US airports, faces competition from TSA PreCheck and is working on improving user retention and growth. Despite falling short of analyst profit estimates, Clear exceeded revenue expectations and plans to expand to more locations by the end of the year. [Extracted from the article]

Clear Secure Inc. experienced a significant drop in its stock value due to a slowdown in new user growth, with only a 0.8% increase in Clear Plus members in the third quarter. The company, known for its airport security subscription service, faces challenges in retaining and attracting users, especially in competition with TSA PreCheck. Despite falling short of analyst profit estimates, Clear Secure Inc. exceeded revenue expectations in the last quarter. [Extracted from the article]

Spirit Airlines Inc. has agreed to sell 23 Airbus SE aircraft for $519 million to boost its cash reserves as it faces a potential bankruptcy filing. The sale, along with the elimination of plane-related debt, is expected to increase Spirit's liquidity by $225 million through 2025. The airline is also in discussions with creditors to restructure its debt and plans to cut costs by $80 million annually, primarily through reducing its workforce. Shares of Spirit rose 10% following the announcement of the aircraft sale. [Extracted from the article]

Mercedes-Benz Group AG has lowered its financial forecast for the year due to a decline in its business in China, which has negatively impacted the German industrial sector. The company now expects its adjusted return on sales to be between 7.5% and 8.5%, compared to the previous forecast of up to 11%. The weakening sales of its luxury cars in China is a setback for Mercedes-Benz's strategy to transition to an all-electric future, as younger Chinese customers are increasingly favoring domestic brands with more advanced technology. This development adds to the challenges faced by the struggling German industrial sector, which has been affected by factors such as the loss of cheap gas supplies from Russia and lagging demand. [Extracted from the article]

Mercedes-Benz Group AG has revised its financial forecast for the year due to a decline in its business in China. The luxury car manufacturer now expects its adjusted return on sales to be between 7.5% and 8.5%, compared to the previous forecast of up to 11%. The company also anticipates that its earnings before interest and taxes will be significantly lower than the previous year. This decline is attributed to the weakening macroeconomic environment in China, including decreased consumption and a downturn in the real estate sector. [Extracted from the article]

US aviation authorities are investigating a collision between two Delta Air Lines planes on a taxiway at Hartsfield-Jackson Atlanta International Airport. The incident involved an Airbus A350 and a smaller regional jet operated by Delta subsidiary Endeavor Air. No injuries were reported, and all passengers were reaccommodated on other flights. The Federal Aviation Administration will conduct an investigation, and Delta is cooperating with authorities. [Extracted from the article]

Rocket Lab USA Inc. has hired Frank Klein, the former chief operations officer of Rivian Automotive Inc., as its new chief operations officer. Klein, who has extensive experience in the automotive industry, including roles at Magna Steyr AG and Daimler AG, will be responsible for accelerating the production of spacecraft, launch vehicles, and components at Rocket Lab. The company's founder and CEO, Peter Beck, expressed confidence in Klein's expertise in lean manufacturing and scaling. Rocket Lab's stock remained relatively stable following the announcement. [Extracted from the article]

JetBlue Airways Corp. has increased its sales forecast for the current quarter after benefiting from re-booking passengers from rival airlines whose flights were disrupted by a technology outage in July. The company now expects revenue in the third quarter to be in the range of up 1% to down 2.5%, an improvement from the previous expectation of a decline of up to 5.5%. JetBlue attributed the increase to the re-accommodation of customers affected by other airlines' cancellations and improved bookings in the Latin region. The technology outage in July, caused by an errant software update from CrowdStrike Holdings Inc., resulted in the cancellation of thousands of flights for several days. JetBlue shares rose 5.8% in premarket trading. [Extracted from the article]

JetBlue Airways Corp. has agreed to give activist investor Carl Icahn two board seats, avoiding a potential proxy fight. Icahn recently revealed a nearly 10% stake in the airline and called the shares undervalued. The addition of Icahn's representatives to the board puts a spotlight on new CEO Joanna Geraghty, who took over on the same day Icahn's stake was announced. JetBlue is already working to cut costs and return to profitability after a federal judge blocked its planned takeover of Spirit Airlines Inc. [Extracted from the article]

Delta Air Lines has announced that it expects a $500 million impact from a recent technology breakdown that resulted in the cancellation of numerous flights. The company plans to seek damages for the disruption and the CEO, Ed Bastian, confirmed this in an interview with CNBC. The financial assessment aligns with Wall Street's expectations and highlights the costly consequences of the outage, which caused significant operational disruptions and prompted a federal investigation. The outage was caused by an erroneous software update from CrowdStrike Holdings Inc. that affected Microsoft Corp. systems. [Extracted from the article]

Shares of CrowdStrike Holdings Inc. dropped to their lowest level since December after a report that Delta Air Lines Inc. had hired attorney David Boies following a technology outage that resulted in flight cancellations. CNBC reported that Delta hired Boies to seek possible compensation from CrowdStrike and Microsoft Corp., although no lawsuit has been filed. CrowdStrike stated that it had no knowledge of a lawsuit. The software update from CrowdStrike caused widespread outages of Microsoft systems, and Delta's cancellations extended into the following week. The US Department of Transportation is investigating Delta's handling of the breakdown. [Extracted from the article]

Shares of CrowdStrike Holdings Inc. dropped to their lowest level since December after a report that Delta Air Lines Inc. hired attorney David Boies to seek possible compensation from CrowdStrike and Microsoft following a technology outage that led to flight cancellations. No lawsuit has been filed yet, and the source of the information was not specified. CrowdStrike shares fell 8.2% on the report, while Microsoft's stock remained relatively unchanged. The software update from CrowdStrike caused widespread outages of Microsoft systems, and the US Department of Transportation has opened an investigation into Delta's handling of the breakdown. [Extracted from the article]

Delta Air Lines is being investigated by US authorities over its handling of a technology glitch that resulted in thousands of canceled flights. The Department of Transportation has initiated the probe to ensure that the airline is complying with the law and taking care of its passengers during the ongoing disruptions. Delta has experienced the most significant impact among US carriers, with over 5,400 grounded trips since the breakdown on Friday. Customers have expressed frustration on social media, citing canceled flights, lost baggage, and a lack of food and hotel vouchers. Delta's recovery has been delayed due to the impact on its internal system for processing flight and crew changes. [Extracted from the article]

Delta Air Lines is currently being investigated by US authorities over its handling of a technology glitch that resulted in numerous flight cancellations. The Department of Transportation has initiated the probe to ensure that the airline is complying with regulations and taking care of its passengers during the disruptions. Delta has experienced the most significant impact among US carriers, with over 5,400 flights grounded since the system outage caused by CrowdStrike Holdings Inc. Other airlines have managed to recover more quickly. Delta has not yet commented on the investigation. [Extracted from the article]

Delta Air Lines Inc. is currently being investigated by US authorities regarding its handling of a technology glitch that resulted in numerous flight cancellations. The Department of Transportation has initiated the probe to ensure that the airline is complying with regulations and adequately addressing the disruptions experienced by passengers. This investigation follows Delta's announcement that flight cancellations are expected to continue throughout the week. Delta has been the most affected among US carriers, with other airlines recovering from the system outage caused by CrowdStrike Holdings Inc. over the weekend. Delta has not yet provided a comment on the investigation. [Extracted from the article]

Terex Corp. has agreed to acquire Dover Corp.'s garbage-truck manufacturing business in a $2 billion all-cash deal. Terex plans to merge its existing utilities operations with Dover's Environmental Solutions Group to create a new segment. The transaction is expected to enhance Terex's revenue growth, free cash flow, and earnings. Dover's environmental solutions business, which includes the Heil brand of garbage trucks and Marathon trash compactors, generated approximately $750 million in sales last year. The deal is set to close in the second half of 2024. [Extracted from the article]

Elon Musk has announced that the headquarters for X and SpaceX will be relocated from California to Texas. Musk cited frustration over laws in California, specifically a new law that bans school districts from requiring teachers to notify parents about changes to a student's sexual orientation and gender identity. SpaceX's current headquarters is in Hawthorne, California, but the company has been building a large facility in South Texas called Starbase. Texas Governor Greg Abbott praised the move, stating that it solidifies Texas as a leader in space exploration. X's headquarters will also be moving to Austin. This announcement follows Musk's earlier decision to move Tesla's headquarters from California to Austin. [Extracted from the article]

(Bloomberg) -- SpaceX will move its headquarters to Texas, according to Chief Executive Officer Elon Musk, citing frustration with laws in the space launch company's home state of California.The billionaire made the announcement on his X social-media site Tuesday. He cited a new law in California, which became the first US state to ban school districts from requiring teachers to notify parents about changes to a student's sexual orientation and gender identity.©2024 Bloomberg L.P.By Richard CloughReported by Author [Extracted from the article]

General Motors (GM) has authorized a $6 billion share buyback plan and increased its dividend, citing improved profitability in its electric vehicle (EV) operations. The company plans to opportunistically repurchase its stock under the new program, following a $10 billion accelerated share repurchase completed last November. GM expects to use the remaining $1.1 billion from the prior authorization by the end of this quarter. The company also raised its quarterly dividend by 33% to 12 cents per share. GM's shares rose slightly on the announcement. [Extracted from the article]

General Motors (GM) has approved a $6 billion share buyback plan, citing improved profitability in its primary business and growth in electric vehicles (EVs). The company plans to opportunistically repurchase its stock under the new program, following a $10 billion accelerated share repurchase approved last November. GM's decision reflects its momentum from the first quarter, where strong domestic truck and SUV sales helped overcome challenges in China. While GM continues to invest in EVs, the slower market growth has allowed the company to return cash to investors. [Extracted from the article]

General Motors (GM) has approved a $6 billion stock buyback plan, thanks to the improving profitability of its electric vehicle (EV) operations. The company plans to buy its stock under the new program after completing a $10 billion accelerated share repurchase approved last November. GM's decision comes after a successful first quarter, where strong domestic truck and SUV sales helped overcome challenges in China. The company is committed to the EV market, which continues to grow. GM's shares rose 1.1% on the announcement, and the stock has gained 32% this year. [Extracted from the article]

General Motors (GM) has approved a $6 billion share buyback plan and increased its dividend as its electric vehicle (EV) business becomes more profitable. The company plans to buy its stock under the new program after completing a $10 billion accelerated share repurchase approved last November. GM's decision reflects its growing EV business and improved profitability in its gas-powered vehicle business. The announcement has had a positive impact on GM's stock, which has risen 1.1% following the news. Additionally, GM's quarterly dividend has been raised by 33% to 12 cents a share. [Extracted from the article]

General Motors (GM) has authorized a $6 billion share buyback plan and increased its dividend, citing improved profitability in its electric vehicle (EV) operations. The company plans to opportunistically repurchase its stock under the new program, following a $10 billion accelerated share repurchase completed last November. GM expects to use the remaining $1.1 billion from the prior authorization by the end of this quarter. The company also raised its quarterly dividend by 33% to 12 cents per share. GM's shares rose slightly on the announcement. [Extracted from the article]

Lucid Group Inc., an electric-vehicle maker, plans to cut about 400 jobs in an effort to reduce costs due to a slowing market for plug-in cars. The layoffs, which represent about 6% of the company's workforce, will be completed by the end of the third quarter. This move reflects the challenges faced by EV manufacturers in scaling production while dealing with declining consumer demand for electric vehicles. Despite being a small player in the auto industry, Lucid has consistently delivered vehicles and has the support of its largest investor, an affiliate of Saudi Arabia's Public Investment Fund. [Extracted from the article]

Lucid Group Inc. is set to cut around 400 jobs in the next few months, as the electric-vehicle (EV) market slows down. This reduction in workforce, which accounts for about 6% of the company's employees, will be completed by the end of the third quarter. Lucid expects to face charges of $21 million to $25 million due to this restructuring plan. The layoffs highlight the difficulties faced by EV manufacturers in scaling production while dealing with declining consumer demand for electric cars. Other companies in the EV market, such as Tesla and Rivian Automotive, have also announced job cuts recently. [Extracted from the article]

The article reports on the work of 3M Co. to manufacture N95 medical masks. It mentions the company's early awareness of the COVID-19 epidemic and immediate ramp-up of production, their work in manufacturing respirators, and how chief executive officer Mike Roman has prepared in managing the crisis.

Proxy adviser Glass Lewis & Co. is recommending that Boeing Co. shareholders vote against the reelection of three directors, including CEO Dave Calhoun, due to concerns about oversight of the company's safety culture. Glass Lewis opposes Akhil Johri and David Joyce, who chair Boeing's audit committee and aerospace safety committee, respectively. The advisory firm believes that voting against these directors would signal dissatisfaction with Boeing's efforts to transform its safety culture. Boeing has made recent efforts to improve safety and quality, but the company has acknowledged that more work needs to be done. The shareholder meeting is scheduled for May 17. [Extracted from the article]

Proxy adviser Glass Lewis & Co. is recommending that Boeing Co. shareholders vote against the reelection of three directors, including CEO Dave Calhoun, due to concerns about oversight of the company's safety culture. Glass Lewis opposes Akhil Johri and David Joyce, who chair Boeing's audit committee and aerospace safety committee, respectively. The advisory firm believes that voting against these directors would signal dissatisfaction with Boeing's efforts to transform its safety culture. Boeing has faced scrutiny since a near-catastrophic accident in January, and Calhoun has already announced his intention to step down this year. The shareholder meeting is scheduled for May 17. [Extracted from the article]

Glass Lewis & Co., an influential proxy adviser, has recommended that investors vote for six dissident nominees, including proposed CEO Jim Barber, in the upcoming shareholder vote for Norfolk Southern Corp. This raises pressure on the railroad as activist investor Ancora Holdings Group seeks to replace CEO Alan Shaw and most of the board. Ancora cites poor decision-making, weak operating results, and an underperforming stock as reasons for the leadership change. Public support for Ancora's slate has grown, with Teamsters divisions representing over 40% of Norfolk's unionized employees and major customer Cleveland-Cliffs Inc. also calling for leadership change. [Extracted from the article]

Glass Lewis & Co., an influential proxy adviser, has recommended that investors vote for six of the dissident nominees, including proposed CEO Jim Barber, in the battle to replace Norfolk Southern Corp.'s leadership. The activist investor, Ancora Holdings Group, aims to install seven directors on Norfolk Southern's board and replace CEO Alan Shaw. Public support for Ancora's slate has grown, with two Teamsters divisions representing over 40% of Norfolk's unionized employees calling for leadership change. However, Norfolk Southern has accused Ancora of signing a memorandum of understanding with the Brotherhood of Locomotive Engineers and Trainmen in violation of the Railway Labor Act. [Extracted from the article]

Virgin Galactic Holdings Inc. is considering a reverse stock split in order to comply with stock market standards and maintain its listing on the New York Stock Exchange. The company will seek approval from shareholders for a reverse stock split at its June 12 meeting, with a ratio between 1-for-2 and 1-for-20. The purpose of the reverse split is to raise investor perceptions of the stock and prevent delisting, as the shares have fallen below $1 for the first time this week. Virgin Galactic has faced challenges recently, including technical issues and a declining stock price, and plans to suspend commercial operations until at least 2026 to focus on developing a next-generation vehicle. [Extracted from the article]

Alaska Airlines has resumed normal flight operations after a temporary nationwide grounding due to a technology issue. The carrier halted operations after experiencing a problem during a system upgrade that calculates weight and balance. Accurate weight and balance calculations are crucial for safe flights. Although the issue has been mitigated, residual delays are expected throughout the day. The US Federal Aviation Administration confirmed that operations have returned to normal. This incident follows a similar ground stop issued for United Airlines flights in September 2023 and a nationwide grounding in early 2023 due to an FAA system outage. [Extracted from the article]

Alaska Airlines flights have been temporarily halted across the United States at the request of the company. The Federal Aviation Administration (FAA) issued a notice stating that the halt affects all of Alaska's mainline and sub-carrier operations, but did not specify the reason. CNBC reported that the grounding was related to an information technology issue. This disruption is reminiscent of previous incidents, such as a ground stop for United Airlines flights in September 2023 due to a software update and a nationwide grounding of aircraft in early 2023 caused by an FAA system outage. [Extracted from the article]

Shares of Hexcel Corp. dropped significantly after the company appointed Tom Gentile as its new CEO. Gentile had recently resigned as the head of Spirit AeroSystems Holdings Inc., a rival supplier that has faced scrutiny for manufacturing quality issues. Analysts have expressed concerns about Gentile's hiring, citing Spirit's history of quality problems and financial difficulties. Hexcel is a key supplier to Boeing Co. and the appointment comes at a time when both Spirit and Boeing are dealing with revelations of production quality issues. [Extracted from the article]

Hexcel Corp., a major supplier to Boeing, saw a significant drop in its stock price after announcing a puzzling CEO change. Tom Gentile, who previously resigned as the head of Spirit AeroSystems Holdings Inc., will take over as Hexcel's CEO on May 1. This decision has raised concerns on Wall Street due to Spirit's history of quality problems and financial difficulties. Analysts have downgraded Hexcel's stock following the announcement, and the company's shares plummeted by 13% on Wednesday. [Extracted from the article]

Dave Calhoun, the CEO of Boeing, will also be leaving the board of Caterpillar Inc. Calhoun informed the board that he will not stand for reelection at this year's annual shareholder meeting. This decision is not due to any disagreement with the company. Calhoun's departure from Caterpillar comes shortly after his announcement to step down from Boeing, which is currently facing a safety crisis. Calhoun has been a member of Caterpillar's board since 2011. [Extracted from the article]