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Anheuser-Busch InBev (BUD) is facing its first major union battle of 2024. (00:25) UnitedHealth (UNH) has been ousted following reports that the Department of Justice has begun an antitrust review. (01:10) Apple (AAPL) halts development of electric vehicles. Moving your workforce to generative AI: Report. (01:47)
This is a summary transcript of the podcast.
5,000 workers at 12 Anheuser-Busch InBev (BUD) breweries in the United States are preparing to go on strike this week.
His current five-year contract with the Teamsters expires Thursday.
National negotiations with the Teamsters began last September.
In December, 99% of workers voted to go on strike if no deal was reached. The Teamsters also announced they would more than double strike pay for employees to $1,000 a week in the event of a strike.
Anheuser-Busch (BUD) said in a statement on its website that it has contingency plans in place for a nationwide strike to keep beer flowing.
Workers are demanding job security, retirement benefits and higher wages.
According to reports, the Department of Justice has begun an antitrust review of UnitedHealth Group (NYSE: UNH).
The Justice Department is investigating UnitedHealth's relationship with its medical services unit Optum, the Journal reported Tuesday, citing people familiar with the matter. Regulators are meeting with health industry representatives from areas in which UnitedHealth competes.
Investigators are asking about the potential impact of the company's acquisition by a physician group on competitors and consumers, the Journal reported.
Spokespeople for UnitedHealth (UNH) and the Department of Justice declined to comment to the Journal.
UnitedHealth (UNH) closed 2.27% lower on Tuesday. UNH is down 1.2% premarket.
Apple (NASDAQ:AAPL) has canceled work on its electric vehicle project and allocated some of its employees to developing generative artificial intelligence.
Apple Chief Operating Officer Jeff Williams and Kevin Lynch, who led the effort known as Project Titan, made the surprise announcement Tuesday in front of about 2,000 employees, Bloomberg reported. went.
Apple did not immediately respond to Seeking Alpha's request for comment.
Apple has spent billions of dollars on the effort, and CEO Tim Cook once called it the “mother of all AI projects.”
Many of the employees working on the car project will now work for Apple executive John Gianandrea, who leads Apple's machine learning and AI strategy. According to various media reports, some people will be laid off.
Other notable articles on Seeking Alpha:
Top 10 most overbought large-cap stocks on Wall Street
Microsoft faces renewed EU investigation over antitrust charges: Report
OpenAI asks judge to dismiss part of New York Times lawsuit over 'hacking' allegations (updated)
In Catalyst Watch of the day,
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Apple (AAPL) will hold its annual meeting. Shareholders will vote on proposals including AI targets, ESG targets and CEO compensation.
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Shareholders of Powerfleet (PWFL) and Mix Telematics (MIXT) will meet to vote on the proposed business combination between the two companies.
US stocks ended mixed on Tuesday with small movements.
The Nasdaq market (COMP.IND) ended 0.37% higher. The S&P 500 (SP500) rose 0.17%. The Dow Jones Industrial Average (DJI) fell 0.25%.
Eight of S&P's 11 sectors finished in the green, led by utilities. Energy outweighed losers.
Now let's take a look at the market price as of 6am. Dow, S&P, and Nasdaq futures are in the red ahead of today's opening bell. The Dow fell 0.3%, the S&P 500 fell 0.3% and the Nasdaq fell 0.4%. Crude oil is down 1% to more than $78 per barrel. Bitcoin rose 4.8% to over $59,000.
In global markets, the FTSE 100 fell 0.6% and the DAX rose 0.1%.
Beyond Meat (NASDAQ:BYND) was the biggest mover of the day, 55% after reporting better-than-expected fourth-quarter earnings and highlighting accelerating second-half profit margins. Rose.
Today's economic calendar:
