News - November 14, 2024
Corporate Updates and Product Launches
- Costco ($COST): Recalled 80,000 pounds of butter due to mislabeling, potentially impacting its supply chain and consumer trust.
- Apple ($AAPL): Plans to launch a wall-mounted smart-home tablet, a step into the smart home ecosystem.
- Amazon ($AMZN): Introduced "Amazon Haul," a discount store for items under $20, aiming to compete with fast-fashion platforms Temu and Shein. Separately, Amazon shut down a secret fertility tracker app.
- PayPal ($PYPL): Added a group pooling feature for shared gifts and expenses.
- Meta ($META): Threads will introduce ads starting next year, diversifying its monetization strategy.
- Disney ($DIS): Reported a 13.7% jump in entertainment revenue and significant growth in domestic Disney+ (+20%) and Hulu (+7%) subscribers.
Market and Financial Insights
- Stock Market Sentiment: Stock exposure is at an 11-year high, signaling increased investor confidence or risk-taking.
- Marijuana Stocks: Received a boost following speculation about Rep. Matt Gaetz as Attorney General.
- Oil Market: The International Energy Agency (IEA) raised its 2024 oil demand forecast but predicts a surplus in 2025.
- M&A Activity:
- Capri Holdings ($CPRI) and Tapestry ($TPR) terminated their merger deal.
