iPhone US Shipments Take A Hit, Does Social Media Algorithm Impact Political Beliefs? Research Reveals Answer, Disney Joins Netflix To Crack Down Password Sharing In India: Today's Top Stories

Bloomberg

DoorDash Embraces AI Chatbot to Revolutionize Food Ordering and Gain Competitive Edge

• DoorDash Inc DASH has leveraged an artificial intelligence-based chatbot to speed up ordering and help customers find food options.
• The Uber Technologies Inc UBER rival is working on a system called DashAI that it's testing in a limited capacity.
• The technology will help customers to get personalized restaurant recommendations with simple text prompts, adding an edge over its peers.

Benzinga

Disney Joins Netflix In The War Against Password Sharing In India

• Walt Disney DIS reportedly plans to enforce a policy limiting premium users of its Disney+ Hotstar streaming service in India to logging in from just four devices.
• The plan follows Netflix's NFLX move in May to inform subscribers in over 100 countries that they would need to pay more to share the service with people outside their households. A Disney+ Hotstar premium account in India allows logins on up to 10 devices, even though the website states the limit is four.

iPhone US Shipments Take A Hit In Q2 — But It's A Minor Dent Compared To Android's 38% Plunge

• Apple Inc.'s AAPL iPhone is holding fort even as smartphone shipments tumbled 24% in the June quarter. On the other hand, Alphabet Inc's GOOG GOOGL Google has seen Android shipments crater by a massive 38% in this period.
• Smartphone shipments declined for the third consecutive quarter in the US, falling by 24% year-on-year in the June quarter. However, iPhone shipments remained strong, falling by a considerably lower 6%, according to Counterpoint Research data.

American Airlines Pilots Reach Deal With Management On Proposed Tentative Agreement 2.0

• American Airlines Group Inc AAL pilots union reached an agreement in principal (AIP) with the American Airlines management on proposed enhancements to the Tentative Agreement (TA).
• AAL management had agreed to increase its pilot contract offer by over a billion dollars, aligning it with a tentative agreement reached by competitor United Airlines Holdings Inc UAL and its pilots.

Unilever's New Chairman: Ian Meakins To Succeed Nils Andersen

• Unilever Plc UL named Ian Meakins to succeed outgoing Chairman Nils Andersen, continuing to overhaul its leadership after a series of missteps in recent years frustrated shareholders.
• Ian will join the Board as Non-Executive Director and Chair Designate on 1 September 2023 and succeed Nils Andersen as Chair on 1 December 2023. 
• Nils will step down from the board, after nine years of service, at Unilever's Annual General Meeting in May 2024.

Toyota Motor Posts 9% Sales Growth In June On Recovery In Semiconductor Shortages

• Toyota Motor Corp TM disclosed improved sales and production in June and H1 2023.
• The company disclosed that global production reached a record high on increased production capacity in every region on strong demand.
• Worldwide production for Toyota increased 12.1% Y/Y to 4.89 million vehicles in H1, with a growth of 14.8% Y/Y in June.

New York Times

Does Social Media Algorithm Impact Political Beliefs? Research Finds Limited Impact

• Four new studies complicate the narrative around abolishing algorithms on Meta Platforms Inc's META Facebook and Instagram to prevent misinformation and political division.
• The research studies from multiple institutions found that removing some algorithm functions had no measurable effects on people's political beliefs.

CNBC

Vietnamese Automaker VinFast Challenges Tesla with Premium EVs at Discounted Prices

• Vietnamese automaker VinFast proposes to begin construction on its electric vehicle factory in North Carolina.
• VinFast's full-size three-row SUVs, like the VF 9, start at around $85,000 for the Eco model. A Tesla Inc TSLA Model X costs about $100,000.

Nikkei 

Toyota Divests $1.8B Stake In KDDI To Focus On EVs

• Toyota Motor Corp TM disclosed the sale of its stake in KDDI Corp KDDIF KDDIY for around 250 billion yen ($1.8 billion).
• The company plans to divest around 20% of its interest in the telecommunications business.
• Toyota has been KDDI's major shareholder since October 2000.
• The move is at par with Toyota's strategy to reduce shareholdings to boost capital efficiency and significantly invest in "Electrification", "Intelligence," and "Diversification.

Earnings

Exxon Mobil Posts Mixed Q2 Results On Lower Natural Gas Realizations & Industry Refining Margins

• Exxon Mobil Corp XOM reported Q2 2023 revenues of $82.91 billion, beating the consensus of $80.19 billion. 
• The company reported Q2 adjusted earnings of $7.9 billion, lower than $17.6 billion a year ago, owing to lower natural gas realizations and industry refining margins.
• Adjusted EPS of $1.94 missed the consensus estimate of $2.01. 

Chevron Posts Mixed Q2 Performance On Lower Upstream Realization

• Oil giant Chevron Corp CVX reported Q2 FY23 total revenues and other income of $48.896 billion, beating the consensus of $48.80 billion.
• Sales and other operating revenues fell to $47.2 billion from $65.4 billion a year ago, mainly on lower commodity prices.
• Adjusted net earnings were $5.78 billion, with Adjusted EPS being $3.08 (down from $5.82), missing the consensus of $3.28.

AstraZeneca Q2 Earnings Beat Consensus Despite Zero COVID-19 Vaccine Sales, Stock Shoots Up

• AstraZeneca Plc's AZN unit Alexion has agreed to buy Pfizer Inc's PFE preclinical gene therapy programs and enabling technologies for up to $1 billion, plus royalties on sales.
• AstraZeneca has reported Q2 FY23 core EPS of $2.15, up 25% Y/Y (+38% on constant currency).
• Total revenue in the quarter was $11.4 billion, up 6%, beating the analyst estimates of $10.96 billion.

Sanofi Reports Lower Q2 Earnings, But Lifts 2023 Outlook On New Drug Launches

• Sanofi SA SNY reported a 1% decline in Q2 business operating income of €2.73 billion. Business EPS of €1.74, up 0.6% on a reported basis and 8.1% at CER.
• Revenues increased €9.96 billion, down 1.5% and up 3.3% at constant currency.
• Sanofi increased its FY23 Business EPS guidance to grow mid-single-digit at CER, citing strong sales from new drug launches, excluding the effect of currency swings. The negative currency impact on 2023 earnings is expected to be 6.5%-7.5%.

Colgate-Palmolive Stock Slips After Q2 Earnings

• Colgate-Palmolive Company CL reported second-quarter FY23 sales growth of 7.5% year-on-year to $4.82 billion, beating the consensus of $4.67 billion. 
• Organic sales increased by 8%. Non-GAAP EPS of $0.77 beat the analyst consensus of $0.75.
• Colgate sees FY23 net sales growth of 5%-8% (prior view 3%-6%), including the benefit from acquisitions of pet food businesses and a low-single-digit negative impact from foreign exchange.

Procter & Gamble Shares Move Higher On Better Than Expected Q2 Earnings

• Procter & Gamble Co PG reported fourth-quarter FY23 sales growth of 5% year-on-year to $20.55 billion, beating the analyst consensus of $19.98 billion.
• Adjusted EPS of $1.37 beat the analyst consensus of $1.32.
• P&G sees FY24 organic sales growth of 4%-5% and all-in sales growth of 3%-4%, with P&G FY24 EPS of $6.25-$6.43 versus the consensus of $6.38.