This week ahead || 24 Apr - 28 Apr 2023
Some key news articles for this coming week.
Amazon, Microsoft, Meta, Alphabet lead earnings rush: What to know this week
The week ahead will provide investors more data on how some of the biggest players in corporate America started the year, with tech giants including Amazon (AMZN), Microsoft (MSFT), Alphabet (GOOGL), and Meta Platforms (META) all set to report quarterly results.
Read about it here.
Elon Musk urges entrepreneurs 'please refine lithium' as EVs face choke point
Tesla (TSLA) CEO Elon Musk this past week reminded investors of a growing challenge in the US when it comes to the electric vehicle industry — securing refined lithium for EV batteries.
"The choke point is much more on refining capacity than it is on mining. Lithium is actually is very common throughout the world, including in the US," Musk said on Tesla's earnings call. "It's much more a question of where is the refining capacity and can the refining capacity keep up."
Read about it here.
HSBC shareholders should vote against Asia spinoff plan, advisor ISS says
HSBC investors should vote against a resolution by its biggest shareholder Ping An, calling on the bank to consider strategic options including a spinoff of its Asia business, shareholder advisory group ISS said.
The proposal by Ping An, over which the bank and the Chinese insurer have been arguing since last November, "lacks detailed rationale", ISS said in a note to investors seen by Reuters.
Read about it here.
4 big deal reports: Prometheus stock jumps 70% on Merck buyout | Pro Recap
Prometheus Biosciences (NASDAQ:RXDX) shares jumped nearly 70% on Monday following the announcement that Merck (NYSE:MRK) has agreed to acquire the company for $200.00 per share in cash for a total equity value of approximately $10.8 billion.
The acquisition, which is expected to close in Q3/23, is subject to Prometheus Biosciences' shareholder approval.
Read about it here.