Tuesday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines.

Simon Malls

The head of the nation’s largest mall owner believes his firm has weathered the storm.

Indianapolis-based Simon beat earnings expectations as rent collections are up.

Just a few quarters ago, the REIT was collecting just over half of rent owed by its tenants and had filed lawsuits against many of them.

CEO David Simon took a dig at government officials saying it has survived the arbitrary shutdown of its business.

Apple, Microsoft

Apple lost its crown as the world’s most valuable public company to Microsoft.

Apple took a $6 billion hit to its sales during the fiscal fourth quarter due to a nagging global supply chain problem, that’s sent the stock down.

Microsoft’s stock has surged more than 45% this year, with pandemic-induced demand for its cloud-based services driving sales.

Coke, Bodyarmor

Coca-Cola has bought full control of sports drink maker Bodyarmor for $5.6 billion, making it the company’s largest brand acquisition to date.

Owning Bodyarmor helps Coke gain market share in the sports drink category, although PepsiCo’s Gatorade is far and away the market leader with roughly 70% market share.

Solar

Solar power has never been cheaper.

But this year, the supply chain disruptions threaten to derail projections for at least the next year.

Analysts at the consulting firm Rystad estimate rising shipping and equipment costs are threatening to postpone or cancel 56% of worldwide utility-scale solar projections planned for 2022.