EMEA Morning Briefing: Shares Set to Rise at -2-

For years, the tech giant has seemed invincible in this corner of the ad market, which is the foundation of its business. Now, rivals are beginning to eat into its lead, and new offerings-fueled by the rise of artificial intelligence and social video-threaten to reshape the landscape.

Micron Technology CEO Sanjay Mehrotra to Sell Up to $20 Million of Stock

Micron Technology President and CEO Sanjay Mehrotra plans to sell up to $20 million worth of shares of the chip maker.

Micron said the Mehrotra Family Trust, which the executive serves as a trustee, adopted a so-called Rule 10b5-1 trading plan to sell up to 200,000 shares beginning Nov. 7 at the earliest. The plan expires when all allotted shares are sold or Nov. 7, 2026, at the latest. The company disclosed the plan in a form it filed with the Securities and Exchange Commission.

Jeep Parent Stellantis Taking 'Drastic Measures' to Conserve Cash

Automaker Stellantis is taking "drastic measures" to shore up the Jeep and Ram parent's finances, including a belt-tightening approach known internally as the "doghouse" that seeks to put stricter limits on external spending.

Meanwhile, the European-based car company also sued the United Auto Workers in federal court this week, arguing that the union's recent threats to strike are baseless. The UAW and the automaker have been at odds over factory investments Stellantis had promised last year, including reopening an idled plant in Illinois.

OpenAI Is Putting Down Office Roots in New York

OpenAI is leasing its first office in New York City, raising property owners' hopes that the budding artificial-intelligence industry will develop a bigger appetite for office space.

The maker of ChatGPT reached an agreement this month to rent 90,000 square feet in Manhattan's landmark Puck Building in the trendy Soho neighborhood, according to people familiar with the matter.

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Expected Major Events for Monday

06:00/ROM: Aug Retail trade

06:00/GER: Aug Manufacturing orders

06:00/GER: Aug Manufacturing turnover

06:00/FIN: Aug Foreign trade

06:00/DEN: Aug Industrial production & new orders

06:00/NOR: Aug Industrial Production Index

06:00/UK: Sep Halifax House Price Index

06:00/UK: 3Q Halifax House Price Index: UK Regional Breakdown quarterly release

06:30/HUN: Aug Retail Sales

06:30/HUN: Aug Preliminary External Trade

07:00/SVK: Aug Internal trade, incl Wholesale & Retail

07:00/AUT: Sep Wholesale Price Index

07:00/SWI: Sep SNB foreign currency reserves

07:00/CZE: Aug Industry, Construction

07:00/CZE: Aug External trade

09:00/LUX: Sep CPI

09:00/EU: Aug Retail trade

23:01/UK: Sep BRC-KPMG Retail Sales Monitor

23:01/UK: Sep Scottish Retail Sales Monitor

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(END) Dow Jones Newswires

October 07, 2024 01:46 ET (05:46 GMT)

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