7 stories we are following today.
1. Honda is reportedly trying to move more of its production from Canada and Mexico to the US. Reuters.
“The U.S. was Honda’s biggest market last year, accounting for nearly 40% of global sales. The automaker sold 1.4 million vehicles, including Acura models, in the U.S. last year. It imported about two-fifths of those cars from Canada or Mexico.”
2. Advanced Micro Devices (AMD) said on Tuesday its key processor chips would soon be made at TSMC’s ((TSM) new production site in Arizona, marking the first time that its products will be manufactured in the United States. Reuters.
Apple and NVIDIA will also move some chip manufacturing there. This is critical for diversification away from the current situation where 90% of chips are being made in Taiwan.
3. American Airlines (AAL) said on Tuesday it will provide free high-speed in-flight internet services beginning in January 2026 in partnership with AT&T. American Airlines is down 45% YTD.
4. China tells its airlines to not take deliveries of Boeing jets. Boeing is down 10% YTD and 3% pre market.
5. Nine stocks we follow. KKR is down 30% YTD. Apollo Global Management, Inc. is down 24% YTD. Tesla is down 37% YTD, Walgreens Boots Alliance is up 16% YTD, UnitedHealth Group is up 16% YTD and Palantir Technologies is up 22% YTD. American Express is down 14% YTD. FTI Consulting is down 12.57% YTD and Alliance Bernstein L.P is up 1.83% YTD.
6. Good news from Bank of America. “For the first quarter, Bank of America said its profit rose 11% to $7.4 billion from a year earlier. Revenue rose 6% to $27.37 billion, powered by big increases from the markets segment and its wealth-management arm”. The Wall Street Journal. Bank of America is down 16.56% YTD.
7. General Motors to Suspend Production, Lay Off 500 at Electric Vehicle Plant in Ontario. The Wall Street Journal. The company says this is due to weakening demand and not due to tariffs. General Motors is down 15.26% YTD.