Trending Market News

Nike is set to report fiscal third quarter earnings on Tuesday, with Wall Street expecting a steep decline in quarterly profit and flat sales as CEO Elliott Hill continues a turnaround effort approximately 18 months into his tenure. The company faces headwinds from a global trade war, rising Middle East tensions that could pressure consumer spending, and mixed regional performance including a 17% revenue decline in China last quarter.

• Analysts expect earnings per share of $0.39 and revenue of $11.24 billion for the fiscal third quarter
• Last quarter showed 9% sales growth in North America (Nike's largest market) but was offset by a 17% revenue drop in China
• Nike faces challenges from ongoing trade wars, potential inflation from Middle East conflict, and questions about sustainability of recent wholesale gains and whether consumers pulled forward purchases due to tariff concerns

The FDA has identified 76 cases of drug-induced liver injury, including 7 cases of vanishing bile duct syndrome and 8 deaths, linked to Amgen's Tavneos, a drug approved in 2021 for rare autoimmune diseases. The agency is urging healthcare providers to closely monitor patients and discontinue treatment if liver damage is suspected. This safety warning adds to existing regulatory concerns after the FDA requested voluntary withdrawal of the drug in January due to data integrity questions.

• The FDA identified 76 liver injury cases with 8 deaths, including 7 cases of vanishing bile duct syndrome, a rare condition causing permanent liver damage, with median onset of 46 days after starting treatment
• In January 2024, the FDA asked Amgen to voluntarily withdraw Tavneos due to concerns about primary endpoint data from 9 of 331 patients in the approval trial, but Amgen declined
• Both European and Australian labels warn of vanishing bile duct syndrome cases, but U.S. prescribing information currently does not include this warning

Meta Platforms launched two new Ray-Ban prescription smart glasses on Tuesday, expanding its AI-powered wearable offerings. The move targets the billions of people who wear glasses or contacts for vision correction, according to CEO Mark Zuckerberg. The Ray-Ban smart glasses have emerged as one of the few breakthrough successes in the AI gadget market.

• The new launches broaden prescription eyewear options in Meta's smart glasses lineup, which has become a rare success story among AI-powered consumer devices
• Meta CEO Mark Zuckerberg highlighted the massive addressable market, noting that 'billions of people wear glasses or contacts for vision correction'
• The expansion comes as Meta continues to invest in wearable technology and AI integration through its partnership with Ray-Ban

Warren Buffett acknowledged he sold Apple shares too soon and expressed willingness to buy more, but not at current market prices. Apple remains Berkshire Hathaway's largest holding despite the company reducing its stake to $61.96 billion by year-end. Buffett praised CEO Tim Cook's management while noting the stock isn't yet attractive even after falling more than 14% from recent highs.

• Berkshire has made over $100 billion pretax on Apple stock, which remains its largest holding even after trimming the position
• Buffett said Apple could reach a price where Berkshire would 'buy a lot of it,' but considers current market valuations too high
• Apple shares have dropped over 14% from recent highs and more than 6% this month amid broader market correction

Warren Buffett, 95, confirmed he remains actively involved in investment decisions at Berkshire Hathaway despite stepping down as CEO in early 2026. He disclosed making a 'tiny' new purchase and revealed Berkshire bought $17 billion in Treasury bills this week. The company held over $370 billion in cash equivalents at year-end.

• Buffett still comes to the office daily and calls Director of Financial Assets Mark Millard before market open to discuss trades, with CEO Greg Abel receiving daily investment updates
• Berkshire purchased $17 billion in Treasury bills at this week's auction, adding to its massive $370 billion cash equivalent position held largely in T-bills
• Buffett downplayed recent market volatility, noting Berkshire has seen three periods with 50%+ declines during his tenure and current conditions don't represent major buying opportunities

Nvidia has invested $2 billion in Marvell Technology and announced that Marvell will join the Nvidia AI ecosystem. The partnership will enable Marvell to more easily design custom artificial intelligence solutions using its own networking gear and processors.

• Nvidia's investment in Marvell totals $2 billion, representing a significant capital commitment to the partnership
• Marvell will integrate into Nvidia's AI ecosystem, facilitating the design of custom AI solutions
• The collaboration focuses on combining Marvell's networking equipment and processors with AI capabilities

Novo Nordisk launched a discounted subscription plan for U.S. self-pay Wegovy patients, offering monthly prices up to nearly 30% below standard rates as it competes with Eli Lilly's Zepbound in the obesity drug market. The program, available through telehealth platforms starting Tuesday, aims to retain patients, counter cheaper compounded alternatives, and adapt to a more consumer-focused market. Analysts warn Novo risks losing ground in a price war as both companies shift to direct-to-consumer sales strategies.

• Wegovy subscriptions range from $249-$329 monthly (6-29% discount) depending on commitment length, while Lilly's Zepbound starts at $299/month for lower doses
• The move follows Novo's November 2024 price cut from $499 to $349 monthly and represents a strategic pivot to telehealth partnerships with Ro, WeightWatchers, and LifeMD
• Both drugmakers are competing to steer patients from cheaper compounded copies to FDA-approved branded drugs while adapting to patients becoming 'consumers of health' who pay out-of-pocket

Britain's Competition and Markets Authority (CMA) announced it will launch an antitrust investigation into Microsoft's business software ecosystem in May, focusing on software licensing practices in the cloud market. The probe could result in Microsoft being assigned 'strategic market status' in business software, granting the regulator enhanced enforcement powers.

• The CMA previously identified that the dominance of Amazon and Microsoft was harming competition in cloud computing
• Both Microsoft and Amazon are taking 'material steps' to lower some cloud market fees in response to regulatory pressure
• If Microsoft is designated with 'strategic market status' in business software, the CMA would gain authority to directly act on its software licensing practices

Biogen has agreed to acquire Apellis Pharmaceuticals in an all-cash transaction valued at approximately $5.6 billion. The deal was announced on March 31 and represents a significant consolidation move in the biopharmaceutical sector. The acquisition will expand Biogen's portfolio and market presence.

• The transaction is structured as an all-cash deal worth $5.6 billion
• Biogen is acquiring Apellis Pharmaceuticals, adding the company's assets and pipeline to its portfolio
• The deal represents a major M&A move in the pharmaceutical industry as companies seek to expand therapeutic offerings

Eli Lilly announced it will acquire Centessa Pharmaceuticals in a deal valued at approximately $6.3 billion. The acquisition aims to advance Eli Lilly's portfolio in treatments for sleep-wake disorders.

• The transaction is worth about $6.3 billion, representing a significant investment in specialty therapeutics
• The deal focuses on expanding Eli Lilly's capabilities in sleep-wake disorder treatments
• The acquisition was announced on March 31 and adds Centessa's pipeline to Lilly's existing pharmaceutical portfolio

Gold is heading for its worst monthly decline since 2008, down 14.6%, despite edging higher on Tuesday as the U.S.-Iran conflict enters its fifth week. The safe-haven metal has been pressured by rising bond yields and a stronger U.S. dollar, reversing the atypical price patterns seen in recent years.

• Spot gold prices tracking toward a 14.6% monthly drop, the largest since October 2008's 16.8% decline, with prices around $4,553 per ounce
• The Iran conflict has paradoxically weighed on gold as surging oil and gas prices raise inflation expectations, leading markets to anticipate interest rate hikes rather than cuts
• Goldman Sachs maintains a bullish forecast of $5,400 per ounce by end-2026, citing expected central bank diversification and Fed rate cuts, though near-term risks remain tilted to the downside

The EU is warning member states to prepare for prolonged energy market disruption stemming from the U.S.-Israeli conflict with Iran that began February 28, 2026. European gas prices have surged over 70% since the war started, and while direct crude oil and natural gas supplies remain unaffected, the EU faces short-term concerns about refined petroleum products like jet fuel and diesel due to the closure of the Strait of Hormuz.

• European gas prices have jumped more than 70% since the U.S.-Israeli war on Iran began on February 28, 2026
• EU Energy Commissioner Dan Jorgensen urged governments to avoid measures that increase fuel consumption or limit trade of petroleum products, and to defer non-emergency refinery maintenance
• Europe's crude oil and natural gas supplies have not been directly hit since most imports come from suppliers outside the Middle East, but refined petroleum products remain a critical short-term concern

Microsoft plans to invest $1 billion in Thailand over the next two years, focusing on cloud services and artificial intelligence infrastructure, according to a Thai government statement released March 31. The investment represents a significant expansion of Microsoft's presence in Southeast Asia's technology sector.

• The $1 billion investment will be deployed over a two-year period specifically for cloud services and AI development
• The announcement was made official through a Thai government statement, indicating high-level coordination between Microsoft and Thai authorities
• This investment positions Thailand as a growing hub for tech infrastructure in the Asia-Pacific region

Indonesia has summoned Meta and Google officials for failing to comply with new social media restrictions that require platforms deemed 'high-risk' to deactivate accounts of children under 16, with full enforcement beginning last week. The Communications Minister stated both companies have been non-compliant since opposing the curbs from the outset. Non-compliance could result in fines or platform blocks, with warnings also issued to TikTok and Roblox.

• Indonesia has approximately 70 million children under 16, with internet penetration at 80.66% nationally and 87.8% among Gen Z users aged 13-28
• The ministry has identified Meta, Google, TikTok, and Roblox as 'high-risk' platforms based on criteria including stranger contact possibilities, addictive qualities, and psychological risks
• The restrictions aim to reduce cyberbullying and addiction risks, following similar bans in Australia last year over mental health concerns for young people

Chevron's Wheatstone liquefied natural gas facility in Western Australia sustained extensive damage from Tropical Cyclone Narelle last week. The company announced that downstream assets were severely impacted and the facility will not resume full production for several weeks while repairs are conducted.

• Downstream assets at the Wheatstone LNG facility suffered extensive damage from the cyclone
• Full production will be halted for several weeks as Chevron conducts repairs
• The outage affects a major LNG export facility in Western Australia, potentially impacting global natural gas supply

Unilever is in advanced talks to merge its food business with U.S. spice maker McCormick in a deal valued at approximately $16 billion in cash, according to the Wall Street Journal. The transaction would represent a significant divestiture for Unilever as it reshapes its business portfolio.

• The deal includes a cash component of around $16 billion
• McCormick, known as a major U.S. spice manufacturer, would acquire Unilever's food division
• Negotiations are described as being in 'advanced talks,' suggesting a potential announcement may be near

IMAX Corporation CEO Richard Gelfond is taking temporary medical leave to receive treatment for pneumonia. During his absence, daily operations will be managed by senior executives in coordination with Chairman Darren Throop. Gelfond will miss upcoming industry conferences scheduled for next week.

• IMAX's senior executive team will handle daily operations and provide regular board updates during Gelfond's medical leave
• The company recently reported strong Q4 revenue of $125.2 million in February, exceeding analyst estimates of $120.7 million
• Gelfond will not participate in any upcoming IMAX events, including industry conferences slated for the following week

General Motors is temporarily closing its Factory ZERO electric vehicle plant in Detroit until April 13, extending a shutdown that began March 16. The closure, which GM attributes to aligning EV production with market demand, affects 1,300 workers who have been temporarily laid off.

• The Detroit EV plant shutdown runs from March 16 through April 13, resulting in nearly a month of production downtime
• 1,300 workers are temporarily laid off as GM adjusts production levels to match current EV market demand
• The production adjustment at Factory ZERO signals potential softening in electric vehicle demand or inventory management challenges for GM

Micron Technology's stock dropped 10% on Monday, extending a post-earnings decline that has seen shares fall 30% since reporting strong Q2 results on March 18. The sell-off comes despite robust earnings driven by AI chip demand, with broader tech weakness linked to rising oil prices amid escalating Iran tensions.

• CEO Sanjay Mehrotra revealed customers receive only 'half to two-thirds of their requirements' due to a severe memory chip supply shortage driven by AI demand
• Other memory and AI-related tech stocks also declined sharply, with competitors Western Digital down 7% and SK Hynix down 9%
• Micron is a major memory supplier for high-performance AI chips alongside Samsung and SK Hynix, positioning the company at the center of the AI infrastructure shortage

A federal judge granted Verizon a preliminary injunction blocking T-Mobile from running advertisements that promise consumers over $1,000 in annual savings when switching carriers. U.S. District Judge Lewis Kaplan ruled that Verizon would likely succeed in proving T-Mobile's 'Save Over $1,000' campaign constitutes false advertising causing irreparable harm.

• The court order specifically targets T-Mobile's 'Save Over $1,000' advertising campaign promoting carrier switching benefits
• Judge Kaplan determined Verizon demonstrated a likelihood of success on its false advertising claims
• The ruling represents a significant competitive setback for T-Mobile's customer acquisition efforts against its larger rival