π Were there any significant corporate announcements or earnings reports released over the weekend?
8/11/2025 08:29pm
Yes, there were several significant corporate announcements and earnings reports released over the weekend. Here are some of the key highlights:
1. **Whirlpool Cuts Dividend, Full-Year Profit Guidance as Tariffs Hurt Quarterly Results**
- Whirlpool, an appliance maker, cut its dividend and full-year profit guidance due to tariffs affecting its quarterly results. The company's CEO attributed the results being impacted by foreign competitors stockpiling Asian imports into the U.S. ahead of tariffs.
2. **Procter & Gamble Names Jejurikar as CEO**
- Procter & Gamble (P&G) named Jejurikar as its CEO, effective at the beginning of next year. This announcement is likely to have an impact on the company's strategic direction and investor sentiment.
3. **Cadence Design Systems Pleads Guilty to Export Violation**
- Cadence Design Systems pleaded guilty to illegally exporting products to China and will pay a settlement of $140.6 million. Despite this, the company reported higher revenue in the second quarter and boosted its full-year earnings outlook.
4. **Bristol Myers Squibb and Bain Capital Form New Immunology Company**
- Bristol Myers Squibb and Bain Capital formed a new immunology company, which will focus on developing treatments for autoimmune diseases. This partnership is likely to have a significant impact on the immunology sector and could influence investor sentiment towards both companies.
5. **Figma's Hot IPO Is This Week. Adobe Is Still Alive and Kickin'**
- Figma's initial public offering (IPO) is scheduled for this week, which could have an impact on investor sentiment towards the company and the broader tech sector. The success of Figma's IPO could also influence investor expectations for other tech companies going public.
These corporate announcements and earnings reports could have significant implications for investors, particularly those related to Whirlpool, P&G, Cadence, Bristol Myers Squibb, and the tech sector more broadly.