After a nearly 6-month search, Stellantis names former Jeep boss as its new CEO

Stellantis, the fourth-largest global automaker, announced a fresh CEO on Wednesday: company insider Antonio Filosa. Shares were mostly flat on the news.

The move comes nearly six months after the Stellantis board essentially ousted former chief Carlos Tavares amid abysmal US performance. The Jeep and Chrysler maker’s profit plummeted 70% last year and its US sales fell 15%.

Last year wasn’t an outlier, though; Stellantis’ US sales have fallen every year since 2018. At this year’s Detroit Auto Show, Filosa told reporters that US market share was the company’s top priority.

Filosa, who became the head of Jeep in 2023, will officially take the helm June 23, right around when most of the industry plans to end their tariff discounts and start hiking vehicle prices in earnest.

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Max Knoblauch9h

“Madden” maker EA surges on report it’s nearing $50 billion deal to go private

Shares of video game giant Electronic Arts are surging up more than 15% Friday following a Wall Street Journal report that the company is nearing a roughly $50 billion deal to go private.

According to the WSJ, an investment group including Saudi Arabia’s Public Investment Fund and PE firm Silver Lake (which is also part of the TikTok deal) could announce a deal next week.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EA’s most intimidating competitor, “Grand Theft Auto” publisher Take-Two Interactive, climbed nearly 5% on the report.

Exclusive | Videogame Giant Electronic Arts Nears Roughly $50 Billion Deal to Go Private

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EA’s most intimidating competitor, “Grand Theft Auto” publisher Take-Two Interactive, climbed nearly 5% on the report.

$12.5B 🛍️

Max Knoblauch9h

Uber’s relying less on pad thai from 0.8 miles away. The company expects gross bookings (what customers spend) of non-restaurant deliveries to grow to $12.5 billion by the end of the year, according to reporting by Bloomberg.

The new forecast marks a 25% boost from the $10 billion estimate Uber shared in May for the delivery of groceries and items from retail partners like Best Buy.

Through the first half of the year, Uber’s total delivery gross bookings climbed to more than $42 billion, up about 18% year over year. That nearly matches the gross bookings of its ride-hailing business in the same period.

J. Edward Moreno

11h

Why pharma stocks aren’t getting hit by new tariff threats

Most European drugmakers have announced some sort of investment in the US since Trump’s tariff threats began earlier this year. And some seem to have imported plenty of product to get ahead of tariffs anyway.

Pharmaceutical Company Eli Lilly Headquarters

Hyunsoo Rim

TikTok shop

14h

TikTok US is worth only $14 billion, according to the Trump-backed deal

Charting how that stacks up against the rest of the social media landscape suggests Oracle, Silver Lake, and MGX got a pretty sweet deal.

Nike, trying to break out of its funk, launches its high-stakes collab with Kim Kardashian’s Skims

The partnership champions women athletes and tests how far Kim K’s star power can stretch in the women’s activewear arena.

Nia Warfield14h

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