??Boeing shareholders re-elect outgoing CEO Calhoun to Board, Microsoft introduces "Copilot+" PCs with AI functions and more.

Hello, dear readers! ??We hope you had a great week.? Here's your weekly update on the latest news from finance and markets.

Boeing shareholders voted to re-elect outgoing CEO Dave Calhoun to the board of directors, according to a preliminary tally on Friday. On Monday, Microsoft introduced a new line of personal computers equipped with AI capabilities, marking a significant move to integrate this advancing technology into its product range and compete with industry giants. Pixar Animation Studios is laying off 175 employees, about 14% of its workforce, on Tuesday, according to a Disney spokesperson. Nvidia shares surpassed $1,000 for the first time in extended trading on Wednesday after the company reported fiscal first-quarter results that exceeded analyst expectations. JetBlue Airways announced on? Wednesday that it is seeking approval from the U.S. Department of Transportation to partner with British Airways.

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Boeing shareholders re-elect outgoing CEO Calhoun to Board

Boeing shareholders voted to re-elect outgoing CEO Dave Calhoun to the board of directors, according to a preliminary tally on Friday. Calhoun, who announced he will step down by year’s end, aimed to reassure investors about the company's stability amid recent safety issues. In March, a door plug panel blew out midflight from a Boeing 737 Max 9, leading to increased scrutiny of Boeing's safety and quality control. Boeing has since replaced its board chair and the head of its commercial airplane unit. New chairman Steve Mollenkopf informed shareholders at the annual meeting that he has discussed Calhoun’s successor with investors and customers. Proxy advisor Glass Lewis recommended voting against Calhoun and two other board members. Boeing’s recent issues have reduced aircraft deliveries, frustrating airlines and straining its relationship with the FAA, which has increased inspections. Additionally, the Justice Department stated that Boeing violated a 2021 settlement, exposing the company to potential prosecution related to the two fatal 737 Max crashes.

Microsoft introduces "Copilot+" PCs with AI functions

On Monday, Microsoft introduced a new line of personal computers equipped with AI capabilities, marking a significant move to integrate this advancing technology into its product range and compete with industry giants like Alphabet and Apple. During an event at its Redmond, Washington campus, CEO Satya Nadella unveiled the "Copilot+" PCs, which will be available from various manufacturers, including Acer and Asustek Computer. Microsoft's launch of these laptops coincides with its shares trading at near-record levels, driven by investor optimism about the potential of AI to drive robust profit growth in the company and the broader tech sector. Priced at $1,000 and set to hit the market on June 18, these new computers are designed to handle AI tasks without relying heavily on cloud data centers. One standout feature of the Copilot+ PCs is "Recall", which tracks user activity on the computer, storing a detailed history that can be easily searched months later. Yusuf Mehdi, Microsoft's head of consumer marketing, predicts that 50 million AI PCs will be sold over the next year, emphasizing the appeal of faster AI assistants directly integrated into PCs as a compelling reason for users to upgrade. With global PC shipments declining by about 15% to 242 million units last year, Microsoft's introduction of this new category of computers signals its anticipation that they will capture a significant share of the market.

Pixar lays off 14% of workforce amid Disney content cutbacks

Pixar Animation Studios is laying off 175 employees, about 14% of its workforce, on Tuesday, according to a Disney spokesperson. These layoffs are part of CEO Bob Iger's strategy to prioritize content quality over quantity. Although other Disney divisions experienced layoffs last year, Pixar's cuts were postponed due to production schedules. Initially, it was expected that 20% of Pixar's employees would be laid off. Since returning as CEO in late 2022, Iger has been addressing Disney's box office challenges, influenced by content choices and pandemic impacts. Despite some successes with franchises like the Marvel Cinematic Universe, Disney's animated films have struggled to connect with audiences. As a result, no Disney animated feature from Pixar or Walt Disney Animation has earned more than $480 million at the global box office since 2019. With Iger back in charge, Pixar will shift its focus back to theatrical releases and away from short-form series for Disney+.

Nvidia shares top $1,000 for the 1st time due to AI sales surge

Nvidia shares surpassed $1,000 for the first time in extended trading on Wednesday after the company reported fiscal first-quarter results that exceeded analyst expectations. This earnings report serves as a key indicator of the AI boom's impact on the market. Strong performance suggests continued high demand for Nvidia's AI chips, with CEO Jensen Huang announcing expected revenue from the next-generation AI chip, Blackwell, later this year. The stock rose 7% in extended trading, with adjusted earnings per share at $6.12 versus the expected $5.59, and revenue at $26.04 billion compared to the anticipated $24.65 billion. Nvidia forecasts $28 billion in sales for the current quarter, surpassing Wall Street's expectation of $26.61 billion. For the quarter ending April 28, Nvidia reported a net income of $14.88 billion, or $5.98 per share, significantly higher than the previous year's $2.04 billion, or 82 cents per share. The company's data center sales, including AI chips, rose 427% to $22.6 billion in revenue.

JetBlue and British Airways plan partnership to expand networks

JetBlue Airways announced on? Wednesday that it is seeking approval from the U.S. Department of Transportation to partner with British Airways. This code-sharing agreement would expand their networks to cover 75 destinations in the U.S. (39 from New York and 36 from Boston) and 17 cities in Europe. Code-sharing allows airlines to sell seats on each other's flights, helping them grow in new regions. JetBlue has recently expanded its European services, adding flights to Paris, Amsterdam, Dublin, and Edinburgh. If approved, the agreement would let customers book seamless travel across both airlines. This request comes a year after JetBlue’s previous partnership with American Airlines in the U.S. Northeast was struck down by a federal judge.

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