Sign In5 Key Insights Before the Stock Market Opens Monday
Alex Vellor
TDK Unveils Advanced Solid-State Battery Material
Japanese electronic parts maker TDK announced on Monday that it has successfully developed a new material for its solid-state batteries. This innovation holds promise for a variety of devices, such as wireless earphones, hearing aids, and smartwatches.
TDK, a Tokyo-based supplier for Apple (NASDAQ: AAPL), highlighted the key features of this technology, including the use of oxide-based solid electrolytes. According to the company, these electrolytes make the batteries "extremely safe."
This advancement is expected to enhance the performance and safety of wearable devices, providing consumers with better, longer-lasting products.
Premarket Movers:
| Company | Ticker | Stock Change | Reason |
|---|---|---|---|
| Autodesk | NASDAQ:ADSK | +4.1% | Activist investor Starboard Value acquired a $500 million stake and is advocating for changes. |
| GameStop | NYSE:GME | +0.9% | Annual meeting rescheduled due to a technical glitch from high shareholder demand. |
| UBS | NYSE:UBS | +0.7% | Setting aside $900 million to repay investors in Credit Suisse funds linked to Greensill Capital. |
| Best Buy | NYSE:BBY | +3.1% | UBS upgraded its investment stance to ‘buy’ from ‘neutral’ citing a positive restructuring outlook. |
| Primo Water | NYSE:PRMW | -1.9% | Merging with BlueTriton Brands in an all-stock deal. |
| Coinbase | NASDAQ:COIN | -1.2% | Weighed by more losses in bitcoin. |
| AMC Networks | NASDAQ:AMCX | -9.4% | Announced a $125 million convertible offering. |
Disney-Pixar's "Inside Out 2" Smashes Box Office Records
Disney (NYSE: DIS) and Pixar have reasons to celebrate as their latest animated film, "Inside Out 2," raked in an estimated $155 million domestically over the weekend. This impressive debut marks the second-highest theatrical opening for an animated film, trailing only behind 2018's "The Incredibles 2."
The success of "Inside Out 2" is particularly noteworthy as it’s the first movie to surpass $100 million on its opening weekend since last summer's blockbuster, "Barbie." Globally, the film is expected to bring in a staggering $295 million over the weekend.
China's Industrial Production Slows Amid Economic Challenges
China's economic struggles continue as recent data shows a slowdown in industrial production and a decline in property prices. According to the National Bureau of Statistics, industrial output grew by 5.6% in May on an annualized basis, down from 6.7% in April. Economists had predicted a growth rate of 6.2%.
In addition to the slowdown in industrial production, new home prices in China fell by 0.7% month-on-month, marking the sharpest decline since 2014. Property investment and residential property sales also saw significant drops.
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Alex Vellor
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