The U.S. Department of Justice (DOJ) mulls breaking up Google; Florida braces as Hurricane Milton is expected to cause tens of billions of dollars in damages; Palantir Technologies (PLTR) shares are rising further in premarket trading on optimism about its opportunities during the 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) boom; Pfizer (PFE) 澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) Albert Bourla reportedly is to meet with executives of Starboard Value after the activist investor took a stake in the pharmaceutical firm; and Rio Tinto is acquiring Arcadium Lithium (ALTM) for $6.7 bi🌞llion. Here's what investors need to know today.
1. DOJ Weighs Breaking Up Google
The Department of Justice (DOJ) has submitted a filing giving a federal court a framework for restructuring Alphabet's (GOOGL) Google, including 澳洲幸运5开奖号码历史查询:breaking up the tech giant for an illegal monopoly over search. The filing comes after a 澳洲幸运5开奖号码历史查询:U.S. judge in August ruled in favor of the DOJ's antitrust suit, which was 澳洲幸运5开奖号码历史查询:first filed in 2020. A Google executive said the proposal could have "significant unintended consequences." Sha🐼res of Alphabet are down about 1% in prema🐻rket trading.
2. Florida Braces for Cat 5 Hurricane Milton
Florida is bracing for Hurricane Milton as the Category 5 storm continues its path toward the state's west coast, with mass evacuations preceding the expected landfall near Sarasota this evening. The storm could have a 澳洲幸运5开奖号码历史查询:big impact on the state, with analysts at Jefferies projecting it could result in tens of billions of dollars in damages. One company that is expected to be affected is The Walt Disney Co. (DIS), which will be closing Disney World in early afternoon today and could take a hit to its earnings of between $150 million to $200 million due to disruption of its theme parks, according to Goldman Sachs.
3. Palant𒁃ir Stock Rises Further After Ark Invest Highli🍸ghts AI Potential
Palantir Technologies (PLTR) shares are 澳洲幸运5开奖号码历史查询:continuing to rise after asset management firm Ark Invest highlighted the company as one that could benefit from 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) trends. The technology-focused asset manager's European managing director Rahul Bhushan told CNBC that 澳洲幸运5开奖号码历史查询:data analytics software names such as Palantir sit well positioned to capture AI 澳洲幸运5开奖号码历史查询:market share from tech giants as demand grows for customized data and AI services that tailor to clients' specific needs. 澳洲幸运5开奖号码历史查询:After surging more than 6% Tuesday, shares of Palantir are up another 0.6% in premarket tr✱ading.
4. Pfizer CEO Reportedly to Meet With Activist Investor Starboard Valu♒e
Pfizer (PFE) CEO Albert Bourla will meet with executives of activist investor Starboard Value next week as the hedge fund has 澳洲幸运5开奖号码历史查询:reportedly taken a $1 billion stake in the pharmaceutical giant, according to the Financial Times. Bourla and Pfizer independent director Shantanu Narayen, the CEO of Adobe (ADBE), will meet with Starboard Value CEO Jeff Smi🐎th and Patrick Sullivan, who runs the fund's healthcare investments, the report said. Shares of Pfizer are up less than 1% i✱n premarket trading.
5. Rio Tinto Acqꦰuiring Arcadium L𝓡ithium for $6.7B
Global mining giant Rio Tinto announced that it would acquire Arcadium Lithium (ALTM) in an all-cash transaction for $5.85 per share, or $6.7 billion. Shares of Arcadium Lithium surged more than 30% in premarket tradin🌠g to $5.55. The deal would allow Rio Tinto to become one of the top miners of lithium, a metal needed to produce electric vehicle (EV) batteries. "Acquiring Arcadium Lithium is a significant step forward in Rio Tinto's long-term strategy, creating a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition," Rio Tinto CEO Jakob Stausholm said.