Wall Street’s main indices operated unevenly during this Tuesday, while investors continued to compare a series of corporate results, highlighting a poor result from Disney.
While the Dow Jones Industrial Average and the S&P500 rose 0.1%, the technology Nasdaq Composite depreciated 0.1%.
New batch of business results
lWalt Disney shares fell 10% after subscriber growth for Disney+, owned by the entertainment giant, missed estimates and warned of a slowdown in its theme parks division, a key growth driver.
While Palantir Technologies Inc shares fell more than 14% after the data analytics company’s annual revenue forecast missed analyst estimates.
Still, some investors continue to back Palantir, including Wedbush Securities, which advises on the data analytics company’s ability to generate demand for its artificial intelligence platform in both commercial and government arenas. The financial services firm anticipates a strong quarter for Palantir, driven by the performance of its US business segment.
Lucid Group fell 14% after the luxury electric vehicle maker forecast higher capital spending this year and maintained a disappointing annual production forecast amid slower-than-expected demand for electric vehicles.
For its part, Kenvue shares rose 6.6% after the consumer health company, a spinoff of Johnson & Johnson, beat Wall Street estimates for first-quarter profit, adding that it would cut 4% of its global workforce as part of a reduction plan. costs.
Rumors grow about Peloton purchase and partnership between Apple and automotive startup
The fitness company Platoon Interactive Inc rose more than 17% as rumors circulate that private equity firms are considering a possible deal to buy the company.
For its part, Apple presented a series of new iPad prowhich include the new M4 chip, and iPad Air tablets at a virtual event this Tuesday.
The launch of the new iPad comes ahead of the company’s developer conference next month, when the tech giant is expected to reveal its artificial intelligence strategy.
In parallel, DigiTimes reported that Apple is “considering the possibility of partnering with an American electric vehicle startup, and Rivian is a very likely candidate.”.
In early 2024, Apple scrapped its plans to launch an autonomous electric vehicle after a decade of development and a $10 billion investment, saying the project was unviable. However, it seems that the idea has not been ruled out.
The news notes that “there is speculation among supply chains” that Apple is investigating partnering with an electric vehicle startup, to adopt its research on autonomous driving instead of making its own car.
Although the details of a potential partnership remain uncertain, sources suggest Rivian is the frontrunner. A partnership with Apple Car would seem to be the most obvious result of a deal with Rivian, and it wouldn’t be the first time Apple has approached an automotive company. However, none of those previous potential deals with companies like Hyundai or Kia worked out.
