Ackman Bets Big on Nike: Stock Jumps After Pershing Square Takes Stake.

Image source: Photo by Ömer Haktan Bulut on Unsplash

Ackman Bets Big on Nike: Stock Jumps After Pershing Square Takes Stake. 👟 Nike shares surged after Bill Ackman’s Pershing Square revealed a new investment in the company, which has struggled with a 28% decline this year. The move signals renewed interest in the apparel giant despite recent challenges. MarketWatch reports.

🎥 ActDeal: Hollywood union strikes deal for advertisers to replicate actors' voices with AI. Yahoo Finance reports.

🚨 SearchCrash: Breaking up Google an option being considered by US. Reuters reports.

🔗 AdDepend: Reddit’s increased reliance on Google traffic has Wall Street anxious to see if visitors sign up. CNBC reports.

📉 Uniloss: Nelson Peltz's Trian Fund trims stake in Unilever. Yahoo Finance reports.

💼 Snacquisition: Mars to boost snack portfolio in mega $36 bilion deal for Pringles maker Kellanova. Reuters reports.

📱 GeminiRise: Google’s live demo of Gemini ramps up pressure on Apple as AI reaches smartphone users. CNBC reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $SPRC: SciSparc
Total gain: +105.52%

2. $VSME: VS Media Holdings
Total gain: +85.72%

3. $CYTO: Altamira Therapeutics
Total gain: +50.03%

4. $AISP: Airship AI Holdings
Total gain: +24.2%

5. $ARAY: Accuray
Total gain: +22.37%

Could Antitrust Ruling Against Google Bring Breakup of the Company?

Alphabet Inc.’s Google lost the biggest antitrust challenge it has faced when a US judge found on August 5 that it illegally monopolized the search market. It was a major win for state attorneys general and the US Justice Department, which has begun considering proposing the breakup of the 25-year-old company.

Judge Amit Mehta of the US District Court for the District of Columbia ruled that $26 billion in payments that Google made to other companies to make its search engine the default option on smartphones and web browsers effectively blocked any other competitor from succeeding in the market. Mehta’s ruling came after a 10-week trial in 2023 — the first on monopolization charges to pit the federal government against a US technology company in more than two decades.

📰 Read more

The closing price of the top three market percent gainers trading near or above $3 on August 14.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $GNLN: Greenlane
Total gain: +72.33%
Aegis Capital served as the exclusive placement agent for a $6.5 million at-the-market private placement for Greenlane Holdings. Benzinga reports.

2. $BURU: Nuburu
Total gain: +52.83%
The stock appeared to be moving on no notable news.

3. $REBN: Reborn Coffee
Total gain: +35.71%
The company is pleased to announce a significant expansion into the Chinese market through a strategic Master License Agreement with Shenyang Yongsheng Seven Stars Tourism Development, facilitated by Reborn China. This transformative partnership will establish Reborn Coffee's premier locations in Shenyang, the vibrant capital of Liaoning Province, which has a population of over 43 million. Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

AMAT: Applied Mat
3Q 2024
After Market Close
Estimate: 2.020
Actual: N/A

COHR: Coherent
4Q 2024
After Market Close
Estimate: 0.590
Actual: N/A

GLOB: Globant
2Q 2024
After Market Close
Estimate: 1.500
Actual: N/A

Time (ET) / Report / Period

8:30 am - Initial jobless claims - Aug. 10
8:30 am - U.S. retail sales - July
8:30 am - Retail sales minus autos - July

“Diversification is a form of risk management. By holding a broad mix of investments, you reduce the risk that any one investment will have a significant impact on your portfolio.”

― John C. BogleSourced in:
“The Little Book of Common Sense Investing”, by John C. Bogle, published in
2007