Key News
1. Iranian Foreign Minister to visit Pakistan and two other countries; no indication yet of a second round of US-Iran talks.
2. According to Interfax: The Kremlin stated that Russian President Putin may travel to Miami, USA, to attend the G20 summit.
3. Pakistani media: A US delegation may arrive in Islamabad tomorrow.
4. US Defense Secretary Hergsays: A second US aircraft carrier will join the blockade against Iran.
Stock News
1. Meta Platforms (META.O) has signed a multi-billion dollar agreement with Amazon (AMZN.O) to use Amazon CPU chips for artificial intelligence.
2. Intel (INTC.O) reported first-quarter revenue up 7% year-over-year to $13.6 billion, significantly exceeding analysts' average expectation of $12.4 billion. Adjusted earnings per share were $0.29, up 123% year-over-year, also significantly exceeding analysts' average expectation of $0.01.
3. Procter & Gamble (PG.N) reported operating profit of approximately $4.576 billion for its third fiscal quarter, significantly exceeding market expectations. EPS was $1.59, also exceeding market expectations.
4. Elon Musk stated that Tesla (TSLA.O) has begun production of its Robotaxi model, named "Cybercab."
5. Schlumberger (SLB.N) is expected to announce its plans to acquire S&P Global Energy Geosciences and Petroleum Engineering Software business on Friday.
6. Porsche has agreed to sell its stakes in sports car manufacturers Bugatti and Rimac to a consortium led by a US fund linked to the Sawiris family, Egyptian billionaires.
7. Sources say Stellantis (STLA.N) will focus its funding on its core automotive brands as its CEO drives a transformation.
8. WeRide (WRD.O) and Lenovo Group announced a further upgrade to their global strategic cooperation, with both companies expecting to deploy 200,000 Robotaxi and other autonomous vehicles globally over the next five years.
