Fly Intel: Top five weekend stock stories

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. A handful of large companies, such as Berkshire Hathaway (BRK.B) and Amazon.com (AMZN) could bear most of the burden from a 15% corporate minimum tax President Biden signed into law last month, The Wall Street Journal’s Richard Rubin and Theo Francis report. Researchers at the University of North Carolina Tax Center analyzed securities filings to determine what companies would have paid if the tax had been in place last year. They found fewer than 80 publicly traded U.S. companies would have paid any corporate minimum tax in 2021, and just six-including Amazon and Warren Buffett’s conglomerate-would have paid half of the estimated $32 billion in revenue the levy would have generated, the publication adds. 2. Grab (GRAB), Southeast Asia’s biggest ride-hailing and food delivery company, does not envisage having to undertake mass layoffs as some rivals have done, and is selectively hiring, while reining in its financial service ambitions, Reuters’s Anshuman Daga and Xinghui Kok report. Chief Operating Officer Alex Hungate said that earlier in the year, Grab had been worried about a global recession and was “very careful and judicious about any hiring”, and as a result, it had not got to the “desperate” point of a hiring freeze or mass layoffs. 3. Ford Motor (F) stock tumbled this past week after the company warned of continued parts shortages, but Wall Street doesn’t seem worried, Al Root writes in this week’s edition of Barron’s. If Ford’s truck business is really as profitable as the math suggests, it’s one heck of a business, the author says. Down the road, EVs could help boost Ford’s overall profitability if they end up being more profitable than the lower-end gasoline-powered offerings, the publication adds. 4. Warner Bros. (WBD) “Don’t Worry Darling” won the weekend at the North American box office with a domestic debut of $19.2M. Overseas, the high-profile drama took in $10.8M from over 60 markets for a global start of $30M. The movie, which has faced several controversies, received a B- CinemaScore from audiences and sports a 35% critics’ score on Rotten Tomatoes. 5. Chicken Soup for the Soul Entertainment (CSSE), APA Corp. (APA), Philip Morris (PM), Chevron (CVX), Marsh & McLennan (MMC), Becton Dickinson (BDX), Elevance Dickinson (ELV), Microsoft (MSFT), and Generac (GNRC) saw positive mentions in this week’s edition of Barron’s.

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