In the Spotlight: Focus on Apple as it Faces a Ban on Selling Apple Watch

1. Apple Takes Center Stage After CEO Departure While Company Faces Ban on Selling Apple Watch

Tang Tang, the design head for iPhone and Apple Watch at Apple, is leaving the company to join the firm led by former Apple designer Jony Ive. This news comes at a time when Apple is facing opposition to a ban on selling certain models of the Apple Watch in the U.S. after the Biden administration’s decision yesterday not to intervene in the matter. Apple’s shares remained virtually unchanged in pre-market trading at 7:45 AM EST.

2. Tesla Launches Upgraded Model Y from Its Shanghai Factory

Tesla is expected to launch an improved version of its Model Y vehicle from its Shanghai factory, making changes to the interior and exterior of the electric vehicle, with production expected to begin in 2024. This announcement follows Tesla’s price increase for the Model Y and Model 3 in China in October. Tesla’s shares rose by 0.3% in pre-market trading.

3. “The Color Purple” Film Helps Warner Bros. Discovery Top Box Office Revenue Over the Weekend

Warner Bros. Discovery achieved the second-highest revenue on Christmas Day in history, with “The Color Purple” earning $18.15 million. Along with ticket revenues from “Aquaman and the Lost Kingdom” and “Wonka,” Warner Bros. Discovery secured the top three films during the Christmas holiday. Warner Bros. Discovery’s shares remained virtually unchanged in pre-market trading.

4. Netflix and Chinese Gaming Companies’ Shares Drop Due to Regulatory Proposal Concerns

Investors will keep an eye on Chinese gaming companies’ stocks after Chinese regulators announced they would review a set of new proposals aimed at restricting online gaming and spending. This proposal led to a sharp decline in shares of Netflix, Tencent, and other Chinese gaming companies on Friday before rebounding in Hong Kong trading after regulators stated they would seek more opinions on the controversial proposal. NetEase’s American depositary receipts fell by 4% in pre-market trading on Wednesday.

5. SoftBank Group Announces Receipt of $7.6 Billion in T-Mobile Shares

T-Mobile US shares rose slightly in pre-market trading after Japanese SoftBank Group announced it would receive $7.6 billion in shares of the telecom company. This deal was part of the terms surrounding the merger of Sprint, a U.S. telecom subsidiary of SoftBank, with T-Mobile.

Source: https://www.investopedia.com/5-things-to-know-before-the-stock-market-opens-december-27-2023-8420297