By Alan Murray and Geoffrey Smith
July 7, 2017

Good morning, and happy Friday,

Some interesting milestones at the end of the holiday week:

-Samsung likely passed Apple as the world’s most profitable company in the second quarter, according to the Wall Street Journal. It’s expected to report an operating profit of around $12.1 billion, compared to Apple’s $10.6 billion, when earnings are announced next month.

-Electricity generated from renewable sources surpassed that generated by nuclear plants in March and April, for the first time in decades. Some of that reflects a heavy seasonal flow of water through hydro dams this spring. But it also reflects the strong growth of utility-scale solar and wind. (Today’s CEO Daily has more than its fair share of energy-related news – see below.)

-Tesla ended, at least for now, its brief reign as the nation’s most valuable automaker. Its shares tumbled yesterday and have now fallen nearly 20% in just two weeks. The company ended the day with a $50.7 billion market cap, below GM’s $52.6 million.

And finally, an interesting poll unveiled at last week’s Aspen Ideas Festival by Burson-Marsteller and polling firm PSB found 59% of Americans say they trust corporations, which they see as having a more positive impact on their lives than the federal government. But at the same time, 61% view the business executives who run those corporations unfavorably. Something for CEOs to ponder. The full results are here.

News below. Enjoy the weekend.

 

Alan Murray
@alansmurray
alan.murray@timeinc.com

 

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