Apple announces largest-ever $110 billion share buyback

Good Morning,

Apple unveils record $110 billion buyback, Macquarie Group has attributed a 32% fall in its full year profits, the NZ Fashion Week 2024 cancelled, UK votes in local elections that may test Sunak’s leadership, Pharmac and Health NZ weigh up future of Covid vaccines and treatments, Free speech debate back on as Victoria University expands diversity on panel, and Google defends app store, fighting Epic Games' bid for major reforms.

Let's jump in.

Before The Bell

Markets

• The New Zealand sharemarket posted its fourth gain in five trading days and was again led by heavyweight Fisher and Paykel Healthcare, attracting renewed investor support. (GR)

• The Australian sharemarket posted its fourth gain in five sessions on Friday after being rattled earlier in the week by the prospect of higher for longer interest rates. (AFR)

• Oil set for biggest weekly drip since February as war risk fades (BBG)

Earnings and Data

• Macquarie Group has attributed a 32% fall in its full year profits (NBR)

• Apple unveils record $110 billion buyback as results beat low expectations, sending its stock up 6% in extended trade. (RT)

• Coinbase posts soaring profit on jump in crypto prices (RT)

• Monster Beverage posts higher Q1 revenue on resilient demand, easing costs (RT)

News Summary

• Winston Peters says China could help ease global tensions (NBR)

• Linda Jenkinson exits as chair of ASX-listed Pureprofile (NBR)

• Free speech debate back on as Victoria University expands diversity on panel (RNZ)

• NZ Fashion Week 2024 cancelled due to economic downturn and pressure on consumer spending (RNZ)

• TVNZ airs final midday news bulletin (RNZ)

• Phone, internet complaints remain consistently high (RNZ)

• New Zealand becoming 'crime-free nirvana overnight' unrealistic - Police Minister (RNZ)

• Council 'taking our business away': Iconic Wellington cafe asked to shut shop (RNZ)

• Florist says Julie Anne Genter exchange was 'massive imbalance of power' (RNZ)

• The National Party raised $10.4m in donations in 2023 (RNZ)

• Winston Peters receives legal letter from Bob Carr after defamation threat (RNZ)

• Pharmac and Health NZ weigh up future of Covid vaccines and treatments (Herald)

• China sending probe to get samples from less-explored far side of moon (Herald)

• Forrest accuses US of sacrificing green dream to fossil fuel lobby (AFR)

• Israeli private eye arrested in London over alleged hacking for US firm (RT)

• Google defends app store, fighting Epic Games' bid for major reforms (RT)

• Adidas plots to swerve Samba slump (RT)

• Huawei secretly backs US research, awarding millions in prizes (BBG)

• UK votes in local elections that may test Sunak’s leadership (BBG)

Deal Flow

Investments / M&A

• U.S. regulators gave the go-ahead on Thursday to Exxon Mobil's $60 billion purchase of Pioneer Natural Resources, but barred Pioneer's former CEO from Exxon's board on allegations he attempted to collude with OPEC to raise oil prices. (RT)

• The U.S. Department of Justice is seeking more details and documentary materials as part of an antitrust review of Nippon Steel's proposed $15 billion takeover of U.S. Steel, the American firm said on Thursday. (RT)

• U.S. lender SVB Financial Group says that an entity affiliated with Pinegrove Capital Partners will acquire its venture capital business, SVB Capital for an undisclosed amount. (RT)

Debt

• EuroCity, a Napier car and boat dealer in liquidation owes close to $1.2 million to 148 creditors (Herald)

Daily Picks

• Who got what during the election year (NBR)

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