Jean-Luc Ichard/iStock Editorial via Getty Images The California Civil Rights Department has reached a $14.4M settlement with Microsoft (NASDAQ:MSFT) to resolve allegations of discrimination in compensation related to the use of protected leave under state and federal civil rights laws, the agency said Wednesday. In a complaint filed by the agency against Microsoft (MSFT), the department alleged that women and people with disabilities are overrepresented among the group of workers who use these forms of leave and that workers who used protected leave \"faced unlawful retaliation and discrimination in compensation and promotion opportunities because of their use of the leave.\" In addition, \"employees who used protected leave received lower bonuses and unfavorable performance reviews that, in turn, harmed their eligibility for merit increases, stock awards, and promotions.\" As part of the proposed settlement, Microsoft (MSFT) has committed to taking a range of proactive steps to prevent future discrimination and provide monetary relief to employees who used protected leave at the company in California between 2017 and 2024. “The settlement announced today will provide direct relief to impacted workers and safeguard against future discrimination at the company. We applaud Microsoft for coming to the table and agreeing to make the changes necessary to protect workers in California,” CRD Director Kevin Kish said. The settlement, which must be approved by a state judge, would resolve a multiyear investigation by the Civil Rights Department.

da-kuk/E+ via Getty Images London (UKX) +0.56% with parliamentary election in focus. Investors will be closely watching how the Labour Party can gather a majority vote, to replace the Conservatives after 14 years. Germany (DAX:IND) +0.23% Germany June construction PMI 39.7 vs 38.5 prior; Germany May industrial orders -1.6% vs +0.5% m/m expected France (CAC:IND) +0.51% France Construction PMI fell to a three-month low of 41 in June. Switzerland June CPI +1.3% vs +1.4% y/y expected; Switzerland June seasonally adjusted unemployment rate 2.4% vs 2.4% expected. Italy Construction PMI dropped to 46 in June. Retail sales in Slovakia rose by 5.2% Y/Y in May. Retail trade in the Czech Republic grew 4.4% Y/Y in May. Eurozone Construction PMI fell to 41.8 in June. The pan-European Stoxx 600 (STOXX) moved 0.29% higher, extending previous day gains with optimism after economic data for the U.S. reinforced prospects of Fed reducing interest rates this year. Coming up in the session: Traders are also bracing for the UK parliamentary election, with the results due only later in the evening. In the bond market, the U.S. 10-year Treasury yield was down 8 basis points to 4.35%. Germany's 10-year yield was up less than 1 basis point at 2.57%. U.K.'s 10-year yield was up 1 basis point to 4.18%. Currencies: (EUR:USD) (GBP:USD) (CHF:USD) ETFs: (EWG), (GF), (EWI), (EWQ), (FGM), (DAX), (FLGR), (FXB), (EWU), (FKU), (EWUS), (FLGB), (GREK)

CACI (NYSE:CACI) Federal, is awarded a ~$42 modification contract.This modification exercises options to provide continued engineering, technical, and program management support services and associated supplies to support the development, production and sustainment of intelligence, surveillance, and reconnaissance mission systems for the Navy.Work is expected to be completed in June 2025.Naval Air Warfare Center Aircraft Division is the contracting activity.

Ericsson (NASDAQ:ERIC) announces that, in accordance with IFRS accounting requirements, it will record a non-cash impairment charge of SEK 11.4 billion in the second quarter of 2024, primarily reflecting lower anticipated market growth rates in Vonage's current portfolio. The Net income impact after tax will be SEK 11.4 billion and reported in segment Enterprise. Source: Press Release

Just_Super BMI (a unit of Fitch Solutions) is maintaining its nickel price forecast for 2024 at $18,000/tonne, as excess supply continues to drag prices down from 2022 levels. The brokerage anticipates increased production in Indonesia and Mainland China, will be the core driver of price losses. However, key market drivers, including potential supply disruptions and a weaker U.S. dollar (DXY) once the Federal Reserve cuts rates from September, are expected to place a floor under prices throughout the year, preventing a significant decline from current levels. Nickel Futures (LN1:COM), trading -0.68% lower at $17,205.00/tonne, have plunged 15% over the past one year. Beyond 2024, BMI expects nickel prices to increase steadily to 2028, rising to $21,500 as the market surplus narrows on the back of surging demand for the battery metal. Image source: BMI In addition, the brokerage projects a surplus of 253kt in the global nickel market in 2024, up slightly from a surplus of 209kt estimated for 2023. \"This glut is primarily attributed to Indonesia's increased production of nickel pig iron and intermediate nickel products, a direct consequence of heightened investment in its nickel sector following the imposition of a nickel ore export ban in 2020.\" For context, Indonesia's refined nickel production rose 24.7% to 383kt in the first quarter, and the world's second-largest producer of refined nickel, Mainland China, registered growth of 2.3% y-o-y to 220kt, the brokerage added. Among challenges, the brokerage says, delays in Indonesia’s approval of mine production quotes has led to growing concerns over dwindling domestic ore stocks across smelters, while producers outside Indonesia are grappling with a difficult operating environment due to falling nickel prices. At the same time, the escalation of political tensions in key producer New Caledonia has the potential to tighten global supply, it added. Chemicals company BASF (OTCQX:BASFY) and French miner Eramet (OTCPK:ERMAF) (OTCPK:ERMAY) last month said they have canceled a planned $2.6B joint nickel-cobalt refining project in Indonesia, citing significant changes in the global nickel market. Related nickel stocks: VALE (VALE), BHP (BHP), Homeland Nickel (SHL:CA) (OTCPK:SRCGF), Anglo-American (OTCQX:AAUKF), Glencore (OTCPK:GLCNF).

Matt Cardy/Getty Images News BAE Systems (OTCPK:BAESY) Land and Armaments awarded a $579.31M cost-no-fee contract for M109A7 and M992A3 vehicles and fielding kits. Bids were solicited via the internet with one received. Work has an estimated completion date of Jan. 31, 2029. Fiscal 2023 and 2024 weapons and tracked combat vehicle procurement, Army funds in the amount of $265.81M were obligated at the time of the award. Army Contracting Command is the contracting activity BAE Systems (OTCPK:BAESY) Technology Solutions and Services was also awarded an ~$88M contract for the Naval Air Warfare Aircraft Division (NAWCAD) Webster Outlying Field CI&IDS Division.

FinkAvenue/iStock Editorial via Getty Images An investor group, including Arkhouse Management and Brigade Capital Management, bidding to acquire Macy’s (NYSE:M) has raised its offer for the second time to $24.80 a share, or about $6.9 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Investors have boosted their bid for the department store chain by around $300 million in recent days, despite previous proposals not leading to a transaction, according to people familiar with the matter. The new offer is to acquire Macy's (M) stock that Arkhouse and Brigade Capital do not already own for $24.80 each, up from $24 in March and up from the $21 proposal that the duo initially submitted in December, the report added. Macy’s (M) shares closed Wednesday at $17.93. Year-to-date, the stock has seen a decline of about 11%. In March, Macy's (M) announced that its board would \"carefully review\" and evaluate the latest proposal in consultation with its financial and legal advisors. In April, the department store chain ended a nearly two-month proxy battle with Arkhouse Management by appointing two of the activist investor's nominees, Richard Clark and Richard Markee, to its board.

Roman Tiraspolsky/iStock Editorial via Getty Images Digital media company BuzzFeed (NASDAQ:BZFD) confirms Q2 outlook, expects revenue in the range of $44M to $49M, or ~21% to 30% lower than previous year.Adjusted EBITDA expected range of $4M in losses to $1M in profits, approximately flat year-over-year at the midpoint.Source: Form 8-K

ultramarinfoto/E+ via Getty Images Alvopetro Energy (OTCQX:ALVOF) Wednesday reported June sales volumes of 1,669 boepd including natural gas sales of 9.6 MMcfpd, associated natural gas liquids sales from condensate of 67 bopd and oil sales of 10 bopd, based on field estimates.Q2 sales averaged 1,629 boepd compared to 1,701 boepd in Q1. Source: Press Release

skynesher/E+ via Getty Images Psyence Biomedical (NASDAQ:PBM) said Wednesday it received a letter from Nasdaq for not meeting the minimum bid price of $1.00 per share required for continued listing.Psyence Biomedical (PBM) has 180 calendar days, or until December 24, 2024 to regain compliance with the Minimum Bid Price Rule.Source: Press Release

Brandon Bell/Getty Images News Trump Media & Technology Group (NASDAQ:DJT) on Wednesday entered into an asset acquisition agreement to acquire substantially all the assets of WorldConnect Technologies (WCT) or its affiliate in an all-stock deal. The deal is intended to power the media firm’s planned content distribution network (CDN) for streaming of linear TV—initially via the Truth Social platform and later through stand-alone apps. In April this year, Trump Media (DJT) announced plans to launch a live video streaming platform, stating that it was for a three-phase approach to bring live TV to its Truth Social network. The acquisition announced yesterday mainly covers certain agreements, including an option agreement between WCT, Perception Group, Perception TVCDN, and FORA (FOrum RAčunalništva) as well as certain CDN agreements. Trump Media (DJT) expects to receive from Perception Group and its affiliates worldwide non-exclusive perpetual licensing rights for the new CDN technology that it intends to use for its content distribution network. The agreement also includes a contingent opportunity for Trump Media to acquire Perception outright in the future. Perception, meanwhile, will face certain restrictions for five years on operating in the U.S. market in areas that may compete with Trump Media. The deal will be financed at closing through issuance of up to 5.1M shares of DJT’s common stock and $17.5M that are expected to be paid over a period of three years. It is expected to close on the date the company has implemented the Perception software and network with all back-end API services having become generally available on iOS, Google/Android, and web media services and with streaming enabled from at least one data-center. Separately, Trump Media (DJT) finalized a long-term equity financing arrangement to support its expansion over the next three years. Pursuant to a standby equity purchase agreement, the company will have the option to issue up to $2.5B in shares of common stock to Yorkville Advisors over three years. The per share subscription price Yorkville will pay for the shares will be a 2.75% discount to the market price. Trump Media (DJT) intends to use the agreement strategically to raise and deploy capital.

Andrii Yalanskyi/iStock via Getty Images Homebuilder LGI Homes (NASDAQ:LGIH) on Wednesday said it had closed 571 homes in June, compared to 579 homes closed in May.For Q2, LGIH said it closed 1,655 homes, up 52.82% from the 1,083 homes closed in Q1 2024.The company said as of June 30, it had 128 active selling communities, down by two from May.The company will release financial results for the second quarter on June 30, before the market opens.

mirsad sarajlic Australia's trade surplus on goods narrowed to AUD 5.77 billion in May 2024 from a downwardly revised AUD 6.03 billion in the previous month, below market expectations of AUD 6.68 billion, as exports grew less than imports. Exports of goods from Australia grew 2.8% from a month earlier to a three-month high of AUD 43.98 billion in May 2024, mainly boosted by metal ores and minerals. Imports of goods to Australia grew by 3.9% month-over-month to AUD 38.21 billion in May 2024. It was a reversal from a marginally revised 7.0% plunge in the previous month, with purchases rising for all components. The S&P/ASX 200 Index jump 1.2% to around 7,835.6 on Thursday, extending gains from the previous session ETFs: (EWA), (FXA), (FLAU).

Plains GP Holdings (NASDAQ:PAGP) declares $0.3175/share quarterly dividend, in line with previous.Forward yield 6.42%Payable Aug. 14; to shareholders of record July 31; ex-div July 31.See PAGP Dividend Scorecard, Yield Chart, & Dividend Growth.

Plains All American Pipeline, L.P. PFD SER A (OTC:PAAPU) declares $0.6152/share quarterly dividend, in line with previous.Forward yield 9.37%Payable Aug. 14; to shareholders of record July 31; ex-div July 31.See PAAPU Dividend Scorecard, Yield Chart, & Dividend Growth.

Plains All American Pipeline (NASDAQ:PAA) declares $0.3175/share quarterly dividend, in line with previous.Forward yield 6.72%Payable Aug. 14; to shareholders of record July 31; ex-div July 31.See PAA Dividend Scorecard, Yield Chart, & Dividend Growth.

Diversified Royalty (OTCPK:BEVFF) declares CAD 0.0208/share monthly dividend, in line with previous.Forward yield 9.12%Payable July 31; for shareholders of record July 15; ex-div July 15.See BEVFF Dividend Scorecard, Yield Chart, & Dividend Growth.

straga/iStock via Getty Images Saudi Aramco (ARMCO) and Abu Dhabi National Oil Co. have been separately studying potential bids for Australia's Santos (OTCPK:STOSF) (OTCPK:SSLZY), as both seek to ramp up their natural gas investments overseas, Bloomberg reported late Wednesday. Santos (OTCPK:STOSF) (OTCPK:SSLZY) owns liquefied natural gas projects in Australia, Papua New Guinea and Timor-Leste that are prized for their proximity to fast-growing demand from Asia. Middle Eastern countries are investing billions of dollars in gas, which is seen as an important bridge fuel in the energy transition; Aramco recently reached an initial agreement to buy a stake in Sempra's Texas LNG export plant in a deal that would include fuel shipments from the project, and Adnoc has been pursuing a string of acquisitions that have turned it into one of the industry’s most active dealmakers. Woodside Energy held preliminary talks on a potential acquisition of Santos (OTCPK:STOSF) (OTCPK:SSLZY) last year in a deal that would have created an LNG giant, but the talks broke down early this year.

Dmitry Vinogradov Barclays downgraded Pacira BioSciences (NASDAQ:PCRX) to equal weight from overweight following the U.S. FDA's recent approval of a generic version of the company's best-selling drug, Exparel (bupivacaine liposome). The firm cut its target price to $25 from $38 (~15% upside based on Wednesday's close). Barclays noted that 78% of the company's revenue comes from Exparel. A decision on a case challenging the drug's composition of matter patent is expected by August 1. Analyst Balaji Prasad said that even if Pacira loses, it would likely appeal the decision or seek injunctive relief to block an immediate generic launch. Although there are other patents protecting Exparel, he added that \"it is reasonable to assume that sooner or later these patents are likely to be challenged too -- with frequent headline risks casting a prolonged overhang on the stock.\"

Marvell Technology (NASDAQ:MRVL) stock closed positively on Wednesday, extending its seven-day winning streak, during which it gained 4.9%. Shares of the chipmaker closed +0.84% at $72.20, near its 52-week-high of $85.76. The stock has gained 17.69% in value in the last 12 months. Marvell has closed in the green for fourteen trading days in June so far. During the month of May, it closed positively for 13 out of 22 sessions. Looking at Seeking Alpha's Quant Ratings, the company has a Hold rating with a score of 3.25 out of 5. The company received an A- for profitability and a B+ for growth prospects. The stock also got an F for its valuation similar to its valuation six months ago. Turning to the Wall Street community, about 24 out of 34 analysts see the stock as a Strong Buy, with 8 recommending a Buy. The remaining 2 recommended a Hold on the stock. Seeking Alpha analysts are optimistic and see the stock as a Buy. \"Marvell Technology's 1Q25 results show a clear path to growth recovery, with visible catalysts for acceleration in 2H25,\" reads an analysis by Redfox Capital Ideas. \"The data center segment has shown four consecutive quarters of positive sequential growth, indicating an upcycle,\" it added. Another analysis by Seeking Alpha analyst Chetan Woodun noted that despite facing competition, Marvell has the potential to capture a significant portion of the AI chip market, which could greatly impact its income. While it faces cyclicality risks, its data center strength should benefit, he added.

Forward Air Corporation (NASDAQ:FWRD) on Wednesday announced that Jamie Pierson would be permanent CFO, effective July 3, 2024.The company said that Pierson was originally named interim CFO on May 20, 2024.FWRD also named James Faught as its chief accounting officer, effective July 3, 2024.Press release.

Scott Olson/Getty Images News Cboe Global Markets (BATS:CBOE) on Wednesday reported its multiply-listed options contracts average daily volume rose 10.4% to 11M in June from 9.96M in May. Compared with a year ago, the measure slipped 4%. Index options contracts ADV rose 3.6% M/M to 3.91M and fell marginally Y/Y from 3.92M. Futures contracts ADV rose 10% M/M to 235.1K, while it rose 18.8% Y/Y, the derivatives and securities exchange network said. Daily trading volume for US equities in June was down 5.4% Y/Y. Source: Press Release

TeraWulf (NASDAQ:WULF) on Wednesday said it mined 177 bitcoin in June with an average production rate of about 5.9 bitcoin per day.TeraWulf's installed and operational self-mining capacity reached approximately 8.8 EH/s, representing a 76% year-over-year increase.Averaged $32,373 per bitcoin self-mined in June, reflecting an approximate rate of $0.042/kWh. Source: Press Release.