This archive report was first published on 21 December 2021.
US Market Rebounds ¶
On Tuesday, the US market seemed to show signs of recovery after a decline on Monday. The Dow Jones Industrial Average had fallen by 1.23%, the Nasdaq 100 was down 1.24%, and the S&P 500 had fallen 1.14%.
Meta Shareholders Request Public Safety Probe ¶
Shareholders of Meta, formerly known as Facebook Inc, have requested an independent assessment of the company's oversight body. According to a report by Axios, a letter was sent to Meta's corporate secretary requesting the board to commission an independent assessment of the Audit and Risk Oversight Committee's capacities and performance in overseeing company risks to public safety and the public interest.
“Shareholders request the board commission an independent assessment of the Audit and Risk Oversight Committee’s capacities and performance in overseeing company risks to public safety and the public interest and in supporting strategic risk oversight on these issues by the full board,” the investors stated.
Elon Musk to Pay Over $11 Billion in Taxes ¶
Tesla CEO Elon Musk claimed on Twitter that he will be paying over $11 billion in taxes in 2021. Musk, Time's Person of the Year for 2021, has sold over $12 billion worth of Tesla's shares in the past two months.
“For those wondering, I will pay over $11 billion in taxes this year,” he wrote in a brief tweet.
Nike's Q2 Revenue ¶
Nike Inc. reported that its total revenue for the second fiscal quarter of 2022 was up slightly by 1% to $11.4 billion. Direct sales were up 9% to $4.7 billion, with a 40% growth in North America.
Oracle to Acquire Cerner for $28.3 Billion ¶
Oracle Corp. has reached an agreement to acquire health information tech company Cerner Corp. in an all-cash transaction at $95 per share, for a total value of around $28.3 billion.
FedEx to Buy Back $1.5B in Shares ¶
FedEx Corp. has entered an accelerated share buy-back agreement with Goldman Sachs & Co. LLC, a subsidiary of Goldman Sachs Group Inc., worth $1.5 billion in shares.
SEC Fines Nikola $125M Over Fraud ¶
The United States Securities and Exchange Commission (SEC) has announced that Nikola Corporation agreed to pay a $125 million fine to settle fraud charges. The SEC had taken legal action against the company and its founder and former CEO Trevor Milton, who was accused of misleading investors about Nikola's products, technological progress, specific capabilities of products, as well as commercial prospects of the company.
