Apple (AAPL)
In 2024, Apple’s iPhone sales experienced a decline, marking a loss in market share for the tech giant. According to research by Counterpoint Research’s market pulse, while global smartphone sales grew by 4% year-on-year, iPhone sales dropped by 2%.
The data showed Apple’s global market share fell from 19% in 2023 to 18% in 2024. The iPhone 16 series received a mixed reception, partially due to limited availability at launch. However, Apple saw growth in regions such as Latin America, Africa, and Asia-Pacific-Others.
In other news, Apple asked shareholders to vote against a proposal that would eliminate the company’s diversity, equity, and inclusion (DEI) programs. The proposal was put forth by the conservative think tank National Center for Public Policy Research. Apple’s board recommended voting against the proposal at the upcoming meeting on February 25.
Shares in Apple were flat in pre-market trading on Monday.
Walgreens Boots Alliance (WBA)
Shares of Walgreens Boots Alliance rose nearly 28% after the company reported first-quarter results that exceeded analyst expectations. Walgreens posted earnings per share of $0.51, surpassing the average estimate of $0.37.
CEO Tim Wentworth attributed the positive results to the company’s “disciplined execution” of its 2025 priorities, including stabilizing retail pharmacy, optimizing the store footprint, and addressing reimbursement models.
Despite Friday’s gains, Walgreens remains the worst-performing stock in the S&P 500 in 2024. The company has struggled due to growing competition from online prescription delivery services. Shares had risen in December following news that private-equity firm Sycamore Partners was in talks to acquire Walgreens.
Skechers
Skechers, the US footwear brand, was spotlighted following a report by the Wall Street Journal that examined its rise to becoming the third-largest footwear company globally. The company is expected to reach $10 billion in revenue by 2026, largely due to its focus on market segments overlooked by competitors.
For the third quarter, Skechers reported sales of $2.35 billion, marking a 16% increase from the previous year. The company also saw diluted earnings per share of $1.26, up 36% year-on-year.
CEO Robert Greenberg credited the company’s growth to offering the right products at competitive prices while ensuring availability in consumer-friendly locations.
Skechers shares have fluctuated over the past year but are up 12%. The company is set to report its fourth-quarter and full-year results on February 6.
GSK (GSK.L)
Pharmaceutical giant GSK announced on Monday that it had entered an agreement to acquire US biotech firm IDRx for up to $1.15 billion. Under the terms of the deal, GSK will pay $1 billion upfront, with a potential $150 million contingent on regulatory approval milestones.
The acquisition includes IDRX-42, a molecule developed to treat gastrointestinal stromal tumors. GSK’s Chief Commercial Officer, Luke Miels, stated that this acquisition aligns with their strategy to expand their portfolio in gastrointestinal cancers.
Following the announcement, GSK shares dipped nearly 1% on Monday morning.
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