5 Top Stories

Foxconn Logs Profit; Eli Lilly + Amazon; Nissan + Honda?

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Foxconn Buoyed by AI Wave

Taiwan’s Hon Hai Precision [2317:TW], which trades internationally as Foxconn, on Wednesday reported its second consecutive quarter of strong profit growth, posting a 33% rise in net income to NT$53.2 billion in the quarter ended in December. The firm is the world’s biggest assembler of Apple’s [AAPL] iPhone, and also manufactures artificial intelligence (AI) hardware. Earlier this month it secured a major order from US partner Hewlett Packard [HPE].

Eli Lilly / Amazon Deal

The world’s largest drugmaker by market value [LLY] has agreed a deal with the world’s largest e-commerce firm [AMZN]. Amazon will now be able to sell Eli Lilly’s medication, including its weightloss injection pen; this is the first time that Amazon has partnered with a major pharma since launching its online pharmacy back in 2020. Elsewhere, the e-commerce giant has apologised for charging sellers up to $300,000 to promote products that customers could not actually buy.

US Lobby Group Cuts Ties with China Biotech

Two bills targeting Chinese biotech companies are going through the US Congress, and now the Biotechnology Innovation Organization, an influential trade association whose members include Eli Lilly, Merck [MRK] and Johnson & Johnson [JNJ], has cut ties with WuXi AppTec [2359:HK] over national security concerns, reported the Wall Street Journal. WuXi AppTec said in a filing last week that it “has not posed, does not pose, and will not pose a security risk to the United States or any other country”.

Microsoft Expands Cybersecurity AI

The software giant [MSFT] is to expand the availability of its AI cybersecurity tool, known as ‘Copilot for Security’. It will be available worldwide as of 1 April, on a consumption-based licensing model. Meanwhile, UiPath [PATH] shares spiked by as much as 8% after-hours on Wednesday, after its Q4 earnings beat expectations. For the full year, the firm expects revenue of up to $1.6bn, beyond analyst consensus of $1.5bn.

Japanese EV Partnership?

Japanese media are reporting that Nissan [7201:T] is weighing an electric vehicle (EV) partnership with erstwhile rival Honda [HMC]. Neither firm commented on the claim. Both are considering cutting production in China, in light of an ongoing sales drop, Bloomberg reported. Japanese firms have been slower than Chinese competitors to develop EVs, and are losing ground. On Wednesday, Nissan CEO Makoto Uchida said the automaker is “facing a tough business environment”.

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