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Team Building
Sean H. & Jocelin A.
June 25, 2024 • Estimated Reading Time: 9 minutes
TLDR
MARKET RECAP → Stocks rose on Tuesday, led by a rebound in shares of AI chipmaker Nvidia (NVDA).
EU Targets Microsoft's Team Bundling Practices →🚨 The EU slammed Microsoft (MSFT) for anti-competitive bundling of Teams with Office 365, forcing the tech giant to unbundle the app in Europe from October 2023, while promising better interoperability with rivals like Zoom (ZM) and Salesforce (CRM).
Airbus Shares Tumble on Revised 2024 Guidance → 📉 Airbus shares dropped after slashing 2024 targets due to supply chain woes and geopolitical tensions, shaking investor confidence despite strong demand.
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TODAY’S TOP NEWS
EU Targets Microsoft's Team Bundling Practices
📉 The European Commission (EC) ruled that Microsoft's (MSFT) practice of bundling Teams with its Office 365 suite was anti-competitive, alleging it unfairly stifled competition by limiting interoperability with rival apps.
🚨 Slack's 2020 complaint spurred the investigation, accusing Microsoft of using Teams to edge out competitors, reminiscent of its Internet Explorer debacle. Microsoft’s half-hearted attempt to unbundle Teams last April failed to quash the EC's concerns.
TODAY’S TOP NEWS
Airbus Shares Tumble on Revised 2024 Guidance
📉 Airbus shares dropped following the company's decision to cut its 2024 guidance. The revision was prompted by ongoing supply chain disruptions and geopolitical tensions, painting a bleak picture for their immediate production targets.
✈️ The aerospace giant has adjusted its delivery targets, impacting investor confidence. Despite strong demand and a hefty order backlog, Airbus struggled with timely deliveries, exacerbated by supply chain bottlenecks and rising costs.
📊 Revised projections have set the 2024 EBIT (earnings before interest and taxes) between €6.5 billion and €7 billion, with around 800 commercial aircraft deliveries expected. The outlook reflects Airbus's cautious approach amidst an uncertain global economic environment.
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