Apple and BYD, Nestlé guidance, CSX revenue: Stocks in Focus

A Bloomberg report revealed Apple (AAPL) to have been collaborating with Chinese EV maker BYD (BYDDY) on developing lithium iron phosphate battery cells for the now canceled electric, self-driving Apple Car.

Multinational food brand Nestlé (NSRGY) slashed its full-year 2024 guidance on weakening organic food sales.

Railroad transporter CSX Corporation (CSX) points to damages from Hurricane Helene to have contributed to its third quarter revenue miss.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

This post was written by Luke Carberry Mogan.

Video Transcript

We're taking a closer look at some trending tickers this morning, Apple, Nestle and CS X.

We're doing it in 30 seconds each or less.

Let's go.

Apple reportedly worked with Chinese automaker Byd on its now canceled car project according to Bloomberg.

Now the two were working to develop long range batteries using lithium iron phosphate cells known in your hood as LFP spokespeople for both Apple and Byd declined to comment to Bloomberg.

Byd did send an email statement saying the concept for the blade battery originated with Byd engineers who independently developed this LFP.

Blade battery Byd holds complete property rights and patent rights for the blade battery.

What you do need to know of course is the remembrance uh R IP or maybe not for project Titan for Apple here that ultimately cost the company about $10 billion.

Investors still trying to figure out if there's any shrouds of that, that they can take into future projects.

And many are still trying to figure out what exactly that means ultimately for maybe that longer term play.

All right.

Next up, let's take a look at Nestle cutting, its sales and profit guidance.

Now expecting organic sales to rise just 2% this year versus a previous guidance of 3%.

The company's new CEO who took over in September, he said it weakened consumer demand and actions to reduce inventories as drivers for that reduced forecast.

Despite all that, though, we're looking at gains, you might be asking yourself why a lot of that has to do with the earnings call and the commentary from their CFO saying that analysts should not expect a steep decline in profitability in 2025.

That was enough to reassure some of the skeptics on the street.

In addition to all of that, uh the new CEO who just took the helm in September also announced the fact that he will be streamlining the executive rank.

So again, a reorganization as Nestle looks forward.

All right.

And lastly here, let's take a look at Transport Company CS X, citing the recent hurricanes as a factor behind the company's third quarter earnings.

Miss the company's CFO estimating revenue impact from Helene of 10 to $15 million.

At the end of the third quarter, the fourth quarter losses are expected to run around $50 million.

They also pulled guidance here at the end of the day.