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Rolls-Royce Hldgs

Rolls-Royce operates three core business segments: civil aerospace, power systems, and defense. The civil aerospace segment builds engines powering wide-body aircraft, regional and business jets, and offers aftermarket services. Twenty years ago, the firm pioneered full-service flight hour contracts with the TotalCare package. Power systems provides power solutions to multiple end markets (defense, agriculture, marine, and power generation) while the defense business provides military, ground vehicle and naval propulsion solutions.

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Turkish Airlines is reportedly poised to ink a deal with Rolls-Royce Holdings Plc (OTC:RYCEY) (OTC: RYCEF and Airbus SE (OTC: EADSY) for local aircraft component production, estimat

Turkey&#39;s Aviation Ambitions Soar With $20B Rolls-Royce, Airbus Agreement: Report

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Airbus SE made significant strides in the aviation market by clinching orders for 65 jets from two of Boeing&#39;s key Asian customers.

Reddit Investors Eye Airbus Amid Boeing Turmoil: Opportunities In Aviation Stocks Explored

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Airbus Bags Order For 15 More Aircraft From Emirates Following A Public Dispute: What&#39;s Going On?

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Turkish Airlines&nbsp;is reportedly poised to ink a deal with&nbsp;Rolls-Royce Holdings Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RYCEY#OTC">RYCEY</a>) (OTC: RYCEF and&nbsp;Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) for local aircraft component production, estimated at $20 billion, as part of a plane acquisition plan announced last year.
A potential deal announcement is expected at an Istanbul ceremony later this month, reported&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-17/airbus-rolls-royce-close-to-20-billion-turkish-airlines-parts-deal?srnd=homepage-americas&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>, citing Turkish officials familiar with the matter.
Turkish Airlines solidified the purchase of 230 aircraft from Airbus in December, with further options, aiming to bolster its Istanbul hub to compete with regional giants.
This procurement included a push for local production of airplane parts. Notably, Turkish entities, including state-run TUSAS Engine Industries Inc., are expected to participate in the manufacturing program, the report noted.
The accord for domestic aircraft component production aligns with Turkey&#8217;s ambition to advance its civilian and military aviation sector. This initiative is integral to the $70 billion Airbus order in 2023.
The report further noted that Turkey has been in ongoing discussions with international firms, like Rolls-Royce, to acquire engine technology for domestic military projects.
Ankara&#8217;s government emphasizes domestic production in foreign acquisitions, extending to defense and commercial aviation sectors, reflecting a broader industrial strategy.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Turkey's Aviation Ambitions Soar With $20B Rolls-Royce, Airbus Agreement: Report

Airbus SE (OTCPK: EADSF) (OTCPK: EADSY) made significant strides in the aviation market by clinching orders for 65 jets from two of Boeing Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) key Asian customers, dealing a blow to its struggling American rival amidst a <a href="https://www.benzinga.com/quote/BA/news">sprawling manufacturing crisis</a>.
<figure class="wp-block-embed is-type-rich is-provider-reddit wp-block-embed-reddit"> 
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<blockquote class="reddit-embed-bq" style="height:316px" ><a href="https://www.reddit.com/r/stocks/comments/1bkegp8/airbus_clinched_orders_for_65_jets_from_two_of/">Airbus clinched orders for 65 jets from two of Boeing&#8217;s key Asian customers on Thursday</a> by<a href="https://www.reddit.com/user/Zhukov-74/">u/Zhukov-74</a> in<a href="https://www.reddit.com/r/stocks/">stocks</a></blockquote>
<script async src="https://embed.reddit.com/widgets.js" charset="UTF-8"></script></div>
</figure>
A recent post on r/stocks by Redditor Zhukov-74 invited fellow Redditors to comment on the news.
The orders, particularly from Japan Airlines and Korean Air, underscored Airbus&#8217;s growing foothold in Asia, traditionally dominated by Boeing.
<ul>
<li>Japan Airlines (JAL) announced plans to purchase 21 wide-body A350-900 and 11 A321neo narrow-body jets from Airbus, marking its first foray into smaller single-aisle jets from the European rival.</li>
<li>Korean Air, South Korea&#8217;s largest carrier, disclosed a $13.7 billion deal to acquire 33 A350s, signaling a strategic shift away from Boeing as it prepares for a merger with Asiana Airlines.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/03/37866800/japan-airlines-embarks-on-fleet-overhaul-with-new-boeing-and-airbus-purchases">Japan Airlines Embarks On Fleet Overhaul with New Boeing And Airbus Purchases</a>
Responses from Reddit users also shed light on broader sentiments surrounding the aviation industry. Some expressed frustrations with Boeing&#8217;s management practices, suggesting a need for significant reforms to restore the company&#8217;s former glory. Others highlighted the significant backlog of orders for both Boeing and Airbus, indicating ongoing demand despite the challenges faced by Boeing.
Redditors also discussed the potential repercussions for Boeing&#8217;s market position and Airbus&#8217;s expansion strategies.
Conversations on Reddit delved into potential investment opportunities associated with Airbus amid its recent victories in the Asian market. Users contemplated options such as investing in engine manufacturers linked to Airbus aircraft, recognizing the interconnected nature of the aviation industry.
Names such as Safran SA (OTCPK:SAFRF), Rolls-Royce Holdings PLC (OTCPK:RYCEF), General Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), RTX Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>):
<figure class="wp-block-embed is-type-rich is-provider-reddit wp-block-embed-reddit"> 
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<blockquote class="reddit-embed-bq" ><a href="https://www.reddit.com/r/stocks/comments/1bkegp8/comment/kvz7mdv/">Comment</a> by<a href="https://www.reddit.com/user/Zhukov-74/">u/Zhukov-74</a> from discussion<a href="https://www.reddit.com/r/stocks/comments/1bkegp8/airbus_clinched_orders_for_65_jets_from_two_of/"><no value></no></a> in<a href="https://www.reddit.com/r/stocks/">stocks</a></blockquote>
<script async src="https://embed.reddit.com/widgets.js" charset="UTF-8"></script></div>
</figure>
<ul>
<li>P&amp;W is Pratt &amp; Whitney, an American aircraft engine manufacturer, a subsidiary of RTX Corporation.</li>
<li>RR is Rolls-Royce PLC&#8217;s aerospace segment which manufactures aircraft engines.</li>
</ul>
While some Redditors expressed optimism about Airbus&#8217;s growth prospects, others remained cautious, citing the volatile nature of the market and the need for thorough research before making investment decisions. Overall, the discussion highlighted the heightened interest among investors in capitalizing on Airbus&#8217;s momentum amidst Boeing&#8217;s manufacturing woes.
As the battle between Airbus and Boeing intensifies, with Airbus gaining momentum in key markets and Boeing grappling with internal challenges, investors and industry observers closely monitor developments, anticipating the future trajectory of these aviation giants.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/03/37890958/airline-leaders-to-meet-with-boeings-chair-over-safety-concerns-reportedly-skipping-ceo-in-high-">Airline Leaders To Meet With Boeing&#8217;s Chair Over Safety Concerns, Reportedly Skipping CEO In High-Stakes Talks</a>

Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsf#OTC">EADSF</a>) won an additional&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-11-emirates-orders-15-more-airbus-a350-900s" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">order&nbsp;</a>for 15 A350-900s aircraft from Emirates Airlines at the Dubai Airshow. With this new order, Emirates Airlines&#39; total order is 65 aircraft.&nbsp;
The move came after Airbus&nbsp;reportedly faced a setback from Emirates at the Dubai Airshow, where the UAE-based airline reportedly ruled out an immediate contract to purchase Airbus A350-1000 jets on Tuesday, accusing a dispute with engine maker&nbsp;Rolls-Royce Holdings PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>)(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) over the durability of its engines and leaving the European planemaker&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/11/35770679/emirates-reportedly-defers-airbus-a350-deal-citing-engine-durability-concerns-amid-boeing-triump" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">without a significant showcase order</a>.
The deal comes as a compromise after Emirates publicly criticized the performance and cost of Rolls-Royce engines for the A350-1000 related to the downtime needed in Gulf conditions, Reuters reported, citing Industry sources.
At the end of October, the A350 had won over 1,000 orders from leading carriers globally.
HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group&nbsp;said, &quot;The A350-900s will add to our fleet mix and we are pleased to announce additional orders for this aircraft type. We plan to deploy our A350s to serve a range of new markets including long-haul missions of up to 15 hours flying time from Dubai. We will work closely with Airbus and Rolls-Royce to ensure our aircraft deliver the best possible operating efficiency and flying experience for our customers.&quot;
Also this month, Airbus inked a deal for 11 additional&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-11-ethiopian-airlines-in-it-for-the-long-haul-commits-to-a-further-11" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">A350-900s aircraft&nbsp;</a>with Ethiopian Airlines Group. Moreover, EGYPTAIR ordered&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-11-egyptair-announces-order-for-10-a350-900s-to-meet-growing-demand" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">10 A350-900s</a>&nbsp;aircraft from Airbus.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/10/35368302/airbus-bags-1-2b-in-contracts-to-enhance-french-tanker-transport-capabilities" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Airbus Bags &euro;1.2B In Contracts To Enhance French Tanker Transport Capabilities</a>
Price Action: EADSY shares closed lower by 1.14% at $35.43 on Wednesday.
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Airbus Bags Order For 15 More Aircraft From Emirates Following A Public Dispute: What's Going On?

Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsf#OTC">EADSF</a>) reportedly faced a setback from Emirates at the Dubai Airshow, where the UAE-based airline reportedly ruled out an immediate contract to purchase Airbus A350-1000 jets on Tuesday, accusing a dispute with engine maker&nbsp;Rolls Royce Holdings&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) over the durability of its engines and leaving the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/topic/aerospace" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">European planemaker without a significant showcase order.</a>
Tim Clark, president of Emirates, commented on the efficiency of the A350-1000&#39;s engine a day after announcing a $50 billion order for&nbsp;Boeing Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) 777X jets, according to a news report by Reuters. Clark noted that the engine&#39;s maintenance interval &quot;falls short,&quot; providing only a quarter of the duration required by Emirates&#39; operational standards.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/11/35728903/boeing-foresees-major-fleet-expansion-in-southeast-asia" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Boeing Foresees Major Fleet Expansion In Southeast Asia</a>
Clark told reporters that Emirates would order between 35 and 50 of the jets if Rolls-Royce improved the durability and maintenance costs.
Rolls-Royce told Reuters: &quot;Emirates is a valued customer and we look forward to supporting their future fleet growth plans.&quot;
Airbus Chief Commercial Officer Christian Scherer, however, supported Rolls-Royce&#39;s Trent XWB-97 engine.
&quot;It&#39;s a perfectly fine engine operated by many customers around the world.&quot; Scherer said while announcing an order from EGYPTAIR for ten new Airbus A350-900 aircraft at the Dubai Airshow, Reuters added.
Read Also:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/10/35163184/airbus-delivers-55-airplanes-to-34-customers-with-the-largest-orders-going-to-india" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Airbus Delivers 55 Airplanes To 34 Customers With The Largest Orders Going To India</a>
Meanwhile, Airbus said EGYPTAIR disclosed an&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-11-egyptair-announces-order-for-10-a350-900s-to-meet-growing-demand" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">order&nbsp;</a>for ten new Airbus A350-900 aircraft at the Dubai Airshow.&nbsp;
The order has been received in the presence of EGYPTAIR&#39;s Chairman and CEO, Engineer Yehia Zakaria, and Airbus Chief Commercial Officer and Head of International, Christian Scherer.&nbsp;
The A350-900s will provide EGYPTAIR with 25% less fuel burn and, in turn, reduced emissions. At the same time, passengers enjoy the comfort of the Airbus AirSpace cabin, including a feeling of true spaciousness, wide seats, high ceilings, and alluring ambient lighting, according to a company release.
Also See:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/11/35748042/air-lease-and-egyptair-seal-deal-for-boeing-737-8-aircraft" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Air Lease And EGYPTAIR Seal Deal For Boeing 737-8 Aircraft</a>
&quot;Once delivered the A350-900 will be EGYPTAIR&#39;s flagship aircraft. Adding the world&#39;s most modern and efficient widebody aircraft to the airline&#39;s fleet will be instrumental in expanding its offering, opening new opportunities particularly in Western US and the far East,&quot; said Christian Scherer, Chief Commercial Officer and Head of Airbus International.&nbsp;
Price Action: EADSY shares closed higher by 0.85% to $34.79 on Monday, while BA shares traded higher by 0.49% to $205.54 premarket on the last checked Tuesday.
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RLLCF

Emirates Reportedly Defers Airbus A350 Deal, Citing Engine Durability Concerns Amid Boeing Triumph

Rolls-Royce Holdings PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) said that about 2000-2500&nbsp;<a class="editor-rtfLink" href="https://www.rolls-royce.com/media/press-releases/2023/17-10-2023-rr-to-create-simpler-more-efficient-and-effective-organisation-to-continue-to-deliver.aspx" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">roles&nbsp;</a>will be removed globally to make it a simpler, more streamlined organization in the next phase of its multi-year transformation.&nbsp;
Rolls-Royce expects the new structure to build enhanced capabilities in key areas such as procurement and supply chain management, ensuring they are as strong as its engineering and technical capabilities.
The proposed changes will also remove duplication and deliver cost efficiencies. Rolls-Royce currently employs 42,000 people worldwide.
The company said Engineering Technology &amp; Safety will come together as a single team across the group, responsible for product safety, engineering standards, process, methods and tools.
Rolls-Royce expects to create a new enterprise-wide procurement and supplier management organization to support the consolidation of group spend, leverage scale and develop consistent best in class standards.&nbsp;
Grazia Vittadini, Chief Technology Officer, will leave the company in April 2024.&nbsp;
&quot;We are building a Rolls-Royce that is fit for the future. That means a more streamlined and efficient organization that will deliver for our customers, partners and shareholders,&quot; said CEO Tufan Erginbilgic.
Price Action: RYCEY shares closed higher by 1.95% at $2.61 on Monday.

Rolls-Royce To Slash Up To 2,500 Jobs In An Effort To Cut Costs

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/04/26682546/us-calls-for-global-agreement-to-end-anti-satellite-missile-testing" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Calls For Global Agreement To End Anti-Satellite Missile Testing</a>
<ul>
<li>The U.S. government is looking to end the practice of anti-satellite missile tests, Vice President Kamala Harris announced, urging other nations to follow.</li>
<li>An anti-satellite weapons test (ASAT) is a military demonstration in which a spacecraft in orbit is destroyed using a missile system. Historically, countries performing ASAT tests have targeted their assets in space.</li>
<li>Plans for the move were set late last year after the Russian military destroyed a defunct satellite with an ASAT on November 15.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26682824/stellantis-suspends-production-in-russia" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Stellantis Suspends Production In Russia</a>
<ul>
<li>Stellantis NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) said it is halting its production in Russia owing to economic sanctions and logistical difficulties.</li>
<li>The automaker has 1% of Russia&rsquo;s car market, producing Peugeot, Citroёn, Opel, Jeep, and Fiat brands.</li>
<li>&ldquo;Given the rapid daily increase in cross sanctions and logistical difficulties, Stellantis has suspended its manufacturing operations in Kaluga to ensure full compliance with all cross sanctions and to protect its employees,&rdquo; the company said in a statement.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26683167/gogoro-confident-of-its-chip-supply-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Gogoro Confident Of Its Chip Supply</a>
<ul>
<li>Taiwanese electric scooter maker Gogoro Inc&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ggr#NASDAQ">GGR</a>) Chief Executive Officer Horace Luke said that the company has an adequate amount of chips to meet its needs, Reuters reported.</li>
<li>The report quoted Luke saying the company used far fewer chips than electric car makers and has a healthy supply of chips.</li>
<li>Meanwhile, CEO Luke warned of a tightened chip supply scenario by year-end as it plans to grow in China, India, and Southeast Asia.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26682622/heres-why-ev-demand-continues-to-soar-amid-odds" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Here&rsquo;s Why EV Demand Continues To Soar Amid Odds</a>
<ul>
<li>Global EV sales in Q1 jumped nearly 120%, even with sticker prices surging amid surging battery prices.</li>
<li>Supply chain disruptions, sanctions on Russian metals, investor speculation, and environmental concerns drove the battery prices.</li>
<li>Gasoline and diesel fuel costs for internal combustion vehicles also skyrocketed since Russia invaded Ukraine.</li>
<li>Experts saw automakers passing the higher cost burden to consumers due to the battery industry&rsquo;s wafer-thin margins.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26683076/rolls-royce-small-nuclear-reactor-likely-to-win-uk-approval" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Rolls-Royce Small Nuclear Reactor Likely To Win UK Approval</a>
<ul>
<li>A Rolls-Royce (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) design for a small modular nuclear reactor (SMR) will likely win U.K. regulatory approval by mid-2024 and produce grid power by 2029, Reuters reports.</li>
<li>In the meantime, Rolls-Royce will start manufacturing parts of the design that are most unlikely to change.</li>
<li>Each 470 MW SMR unit costs 1.8 billion pounds ($2.34 billion). Rolls-Royce will build each SMR on a 10-acre site equivalent to 10 football fields.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/04/26682768/blockchain-com-is-considering-an-ipo-as-early-as-this-year-bloomberg" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Blockchain.Com Is Considering An IPO As Early As This Year</a>
<ul>
<li>According to people familiar with the matter, cryptocurrency firm Blockchain.com is interviewing banks for an initial public offering that may take place as soon as this year, reported Bloomberg.</li>
<li>An IPO may not occur until next year, and the company&rsquo;s intentions may change, stated the people familiar with the matter.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/04/26680747/tesla-faces-federal-open-investigation-over-racism-allegations-what-you-should-know" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tesla Faces Federal&rsquo; Open Investigation&rsquo; Over Racism Allegations: What You Should Know</a>
<ul>
<li>Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is facing an &ldquo;open investigation&rdquo; by a U.S. federal agency, Bloomberg News reported on Monday, citing the EV maker&rsquo;s state court filing in Oakland.</li>
<li>Elon Musk-led Tesla linked the investigation by the U.S. Equal Employment Opportunity Commission (EEOC) to a &ldquo;turf war&rdquo; with California&rsquo;s state Department of Fair Employment and Housing (DFEH).</li>
<li>Austin, Texas-based Tesla, in its filing, accused DFEH of seeking a &lsquo;quick publicity grab&rsquo; and asked a judge to pause a lawsuit filed in February by the agency over ignoring &ldquo;rampant racism&rdquo; in its factory in Fremont.</li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26682804/this-smaller-spotify-rival-looks-to-go-public-via-1-05b-spac-merger" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">This Smaller Spotify Rival Looks To Go Public Via &euro;1.05B SPAC Merger</a>
<ul>
<li>Spotify Technology SA&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) smaller French rival Deezer looks to go public via a SPAC merger backed by billionaire Francois Pinault&rsquo;s investment group and investment banker Matthieu Pigasse, the Financial Times reports.</li>
<li>Deezer merged with I2PO, a Paris-listed special purpose acquisition company.</li>
<li>The SPAC raised &euro;135 million in the form of Private Investment in Public Equity (PIPE) financing.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/04/26682834/uk-based-start-up-working-on-next-covid-19-vaccine-using-animal-feces-ft" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UK-Based Start-Up Working On Next COVID-19 Vaccine Using Animal Feces</a>
<ul>
<li>DIOSynVax, a UK start-up, hopes genetic sequences of viruses discovered in animal feces will give vital clues for creating a vaccine to help prevent future pandemics.</li>
<li>The Cambridge university spinout is working on two vaccines that it believes will outlive the currently available Covid-19 jabs, including the one created by researchers at rival Oxford University.</li>
<li>Jonathan Heeney first became interested in coronaviruses when he diagnosed them in cats and cheetahs during his studies.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/04/26683408/johnson-johnson-suspends-sales-forecast-for-covid-19-vaccine-trims-fy22-profit-outlook" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Johnson &amp; Johnson Suspends Sales Forecast For COVID-19 Vaccine, Trims FY22 Profit Outlook</a>
<ul>
<li>Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) has reported Q1 FY22 adjusted earnings of $2.67 per share, up 3.1% Y/Y and ahead of the consensus of $2.61.</li>
<li>Net sales increased 5% Y/Y (7.9% on an operational basis) to $23.43 billion, missing the consensus of $23.67 billion.</li>
<li>Pharmaceuticals contributed $12.87 billion in sales, +9.3%, due to Darzalex (daratumumab), Stelara (ustekinumab), Tremfya (guselkumab), Erleada (apalutamide), and paliperidone palmitate and COVID-19 vaccine.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26680908/amazon-bows-to-shareholder-pressure-and-conducts-racial-equity-audit-what-you-need-to-know" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Bows To Shareholder-Pressure And Conducts Racial Equity Audit: What You Need to Know</a>
<ul>
<li>E-commerce giant Amazon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) said it is conducting a racial equity audit as part of its efforts to support and increase diversity in the workplace, a definitive proxy statement filed with the SEC as Form DEF 14A showed.</li>
<li>Amazon said the focus of the racial equity audit would be to evaluate any &ldquo;disparate racial impacts of its policies, programs and practices&rdquo; on its nearly one million hourly employees. The audit team will be led by Loretta Lynch, a former U.S. Attorney General.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/22/04/26682041/why-alibaba-bilibili-jd-are-trading-lower-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Why Alibaba, Bilibili, JD Are Trading Lower Today</a>
<ul>
<li>Chinese tech stocks are extending losses on Tuesday in the premarket session, seeing further erosion of their already-weakened valuations.</li>
<li>A few things are working in the minds of investors ahead of the market open in the United States. The cues from Hong Kong, which opened after Monday&rsquo;s public holiday, are not very encouraging. Alibaba Holdings, Inc. (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/baba#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BABA</a>) shed over 4% in Hong Kong and Tencent Holdings Limited (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tcehy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TCEHY</a>) ended 2.78% lower.</li>
<li>The weakness seen in premarket trading is attributable to regulatory risk that has continued to pressure these stocks since the start of 2021.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26681040/30-per-hour-and-more-what-apple-nyc-store-staff-looking-to-unionize-are-demanding" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">$30 Per Hour And More: What Apple NYC Store Staff Looking To Unionize Are Demanding</a>
<ul>
<li>Apple, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) store workers in New York City&rsquo;s Grand Central Terminal working toward unionizing have come up with some concrete demands.</li>
<li>The store workers are urging Apple to pay a minimum hourly wage of $30, among other things, updated information posted on their website showed.</li>
<li>Calling itself Fruit Stand Workers United, the union is seeking benefits such as increased tuition reimbursement, faster accrued, and more vacation time, among other things.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26680553/apollo-global-said-to-consider-an-offer-for-twitter-ready-to-team-up-with-elon-musk" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apollo Global Said To Consider An Offer For Twitter, Ready To Team Up With Elon Musk</a>
<ul>
<li>Private equity firm Apollo Global Management (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/apo#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">APO</a>) is open to teaming up with Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CEO Elon Musk or any other bidder to finance a Twitter Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/twtr#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TWTR</a>) buyout, the Wall Street Journal reported on Monday, citing people familiar with the matter.</li>
<li>Apollo is the latest private equity firm after Thoma Bravo LP last week reportedly contacted Twitter to express interest in putting together an acquisition offer that would rival Musk&rsquo;s $43 billion bid.</li>
<li>Apollo&rsquo;s participation to finance a deal would be through its credit investment platform and not its private equity business, according to the report.</li>
</ul>
Photo via wikimedia Commons

Small Cap

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AMZN

BABA

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TCEHY

TSLA

TWTR

Morning Brief: Top Financial Stories Dominating on Tuesday, April 19

<ul>
<li>A&nbsp;Rolls-Royce&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) design for a small modular nuclear reactor (SMR) will likely win U.K. regulatory approval by mid-2024 and produce grid power by 2029,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/energy/rolls-royce-expecting-uk-approval-mini-nuclear-reactor-by-mid-2024-2022-04-19/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reports</a>.</li>
<li>In the meantime, Rolls-Royce will start manufacturing parts of the design that are most unlikely to change.</li>
<li>Each 470 MW SMR unit costs 1.8 billion pounds ($2.34 billion).</li>
<li>Rolls-Royce will build each SMR on a 10-acre site equivalent to 10 football fields.</li>
<li>SMRs were cheaper and quicker to build, and users could deploy them on ships and aircraft.&nbsp;</li>
<li>SMR&#39;s &quot;modular&quot; format helped them ship by container from the factory and install relatively quickly on any proposed site.</li>
<li>Policymakers saw SMRs help cut dependence on fossil fuels and lower carbon emissions.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

Tech

Rolls-Royce Small Nuclear Reactor Likely To Win UK Approval

<ul>
<li>American Airlines Group Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/06/g21519901/american-airlines-invests-in-the-future-of-urban-air-mobility" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">plans to invest $25 million</a>&nbsp;in U.K.-based electric aircraft start-up Vertical Aerospace Group Ltd through private investment in public equity (PIPE) transaction to reduce carbon emissions, enhance customer experience, and tap the flying taxi trend, the&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/american-airlines-invests-in-electric-flying-taxis-11623364589?mod=tech_lead_pos7" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Wall Street Journal reports</a>.</li>
<li>It plans to acquire around 250 Vertical&rsquo;s planned flying taxis implying a potential pre-order commitment of $1 billion. There is an option to order an additional 100 aircrafts.</li>
<li>The electric aircraft can take off and land vertically like helicopters and move customers around congested cities to get to and from airports.</li>
<li>Vertical plans to conduct the first trial of its VA-X4 aircraft later in 2021.</li>
<li>Vertical&rsquo;s aircraft will accommodate four passengers and a pilot and fly at speeds of up to 200 miles an hour with a range of over 100 miles.</li>
<li>Vertical aims to begin commercial operations in 2024 upon the European regulatory approval.</li>
<li>Vertical aimed to go public via SPAC (special-purpose acquisition company) merger that valued the combined entity at $2.2 billion.&nbsp;Honeywell International Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hon#NASDAQ">HON</a>),&nbsp;Rolls-Royce Holdings PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rllcf#OTC">RLLCF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>), and&nbsp;Microsoft Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) venture capital fund feature amongst Vertical&rsquo;s backers.</li>
<li>Embraer SA&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/erj#NYSE">ERJ</a>) is in talks to combine its air-taxi arm with a SPAC and announced a deal to sell up to 200 of its flying taxis for the U.K. market.</li>
<li>Aircraft leasing company, Avolon, has agreed to pre-order up to 310 aircraft from Vertical with an option for an additional 190.</li>
<li>Virgin Atlantic has options to acquire 50 - 150 aircraft.</li>
<li>Vertical will work with AAL on passenger operations and developing infrastructure in the U.S. and explore a joint venture with Virgin Atlantic in the UK.</li>
<li>In February,&nbsp;United Airlines Holdings Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) announced plans to back another electric flying taxi start-up and acquire around 200 of its aircraft. UAL disclosed its venture-capital fund to invest in early-stage technologies that furthered its sustainability goals.</li>
<li>Boeing Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) continued its investment in flying taxis to possibly displace existing urban helicopters and reduce noise and carbon emissions.</li>
<li>The $54 billion in government aid for airline workers&rsquo; salaries and benefits brought some respite to the pandemic-stricken industry in 2020. WSJ notes that AAL entered the pandemic with higher debt than its rivals and lost $8.89 billion in 2020.</li>
<li>Price action:&nbsp;AAL shares traded higher by 0.51% at $23.58 in the premarket session on the last check Friday.</li>
</ul>