The Apple event was a banquet of all things except new iPhones.
Apple’s ‘Time Flies’ event held on Tuesday and although the company did not announce a new iPhone as many hoped, it announced some new products and features that will make consumers open their wallets all the same. Notable among them are the Apple Watch Series 6, the Apple Watch SE (a lower-priced Apple Watch), and the iPad Air. Apple also launched new “Apple One” subscription bundles that bring together its services at different price ranges and new software updates like iOS 14 are expected to be released today. Click here to read more
Yesterday, shares of electric truck maker Nikola (NASDAQ: NKLA) fell 8.3% on reports that the Securities and Exchange Commission (SEC) and the Department of Justice were looking into short-seller claims that the company misled investors. Short-seller Hindenburg accused Nikola’s founder of making false statements about its technology to grow the company, in a report released just two days after the company announced a deal with General Motors. Nikola has repeatedly denied the claims but investors seem to be running for the hills. Click here to read more
Department store retail chain, Kohl’s Corporation, has cut about 15% of its corporate workforce in a bid to save cash at a time when the pandemic has battered demand for its products. The company said the job cuts would save it about $65 million in annual expenses, and were part of its bigger plan to reduce costs by more than $100 million. Click here to read more
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Here are the biggest movers in pre-market trading
1. Spotify criticizes new Apple services bundle on antitrust grounds. Click here to read more
2. NBCUniversal’s Peacock streaming service has 15 million sign-ups. Click here to read more
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