DailyEdge

The company shares fell 8% after the carmaker cut its full-year guidance for the second time, citing a slowdown in sales driven by China's weakening economy. With one-third of its sales in China, the luxury automaker expects lower returns and reduced earnings, impacted by weaker consumption and competition in the Chinese market. 🚗

Apple is expected to be warned by the European Union under the Digital Markets Act to open its iPhone operating system to rival technologies or face potential fines. The EU aims to ensure that other developers can access key features like Siri and the iPhone’s payments chip, with non-compliance risking fines of up to 10% of Apple’s global annual turnover. ⚖️

The company‘s €1.49 billion antitrust fine imposed by the European Commission in 2019 for its online ad business was overturned. The EU’s General Court annulled the penalty, stating that regulators failed to prove Google’s contracts harmed competition or strengthened its dominant position in search advertising. ⚖️

The company unveiled a $60 billion stock buyback plan and a 10% quarterly dividend hike, raising its payout to 83 cents per share. While the dividend yield remains low compared to other Dow components, the buyback is among the largest announced this year, following Apple and Alphabet. 💻

Apollo Global Management has agreed to a $1 billion deal with BP to fund its 20% stake in the Trans Adriatic Pipeline. This move supports BP’s divestment target for 2024, with the deal set to close in Q4. ⚡

The company faces a potential strike by 33,000 workers despite a proposed contract offering a 25% pay raise. If approved, the strike could halt production and disrupt Boeing's supply chain, though air travel won’t be affected. ✈️

The company's stock plummeted in premarket trading on Wednesday after reporting earnings that beat expectations, but sales fell short of analysts' forecasts for its fiscal second quarter. 🕹️

Europe’s top court on Tuesday upheld a 2.4 billion euro ($2.65 billion) fine imposed on Google for abusing its dominant position by favoring its own shopping comparison service. ⚖️

The company looked set to pare back some of its recent losses on Monday, but analysts at Citi are warning that the artificial intelligence-fueled winning streak that powered the chip maker to a trillion-dollar valuation is coming to an end. 📊

The company is exploring the acquisition of parts of Intel's design business, particularly its PC client segment, to enhance its product lineup. While no formal approach has been made, Intel is evaluating ways to streamline operations after recent financial struggles. Qualcomm’s interest remains tentative and subject to change. 💼