Large Cap Companies with Strong Market Cap: $UNP $BHP $SHOP

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Union Pacific Corporation Appoints Craig Richardson as Interim VP and Chief Legal Officer

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Union Pacific Corporation. (NYSE:UNP) has a strong market cap of $131.99 billion which is among the highest in the large-cap category. The company has appointed Craig Richardson as an interim executive VP and chief legal officer. Richardson will oversee all the legal affairs aspects of the company that includes litigation and commercial transactions, labor, employment as well as regulatory matters. He will succeed Rhonda Ferguson who was the executive VP, corporate strategy, and chief legal officer.

The recent Hurricane Laura delivered huge damage to the company's industrial and mainline tracks around Lake Charles in Louisiana. This resulted in the railroad being taken out of service which means the company will bear more brunt from the effects of the storm.

BHP Group Aims To become Carbon-Neutral by 2050

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BHP Group Ltd (NYSE:BHP) whose market capitalization is $129.38 billion is among the largest in the large-cap category. The company has finalized details of its revamped strategy to minimize operational carbon emission and the use of fossil fuels. The strategy sets concrete targets that the company expects to reach by 2030 and more tangible actions will be revealed on September 10 which is part of the company's commitment to be carbon neutral by 2050.

Midland Exploration has entered a funding deal with BHP group's subsidiary for the exploration of nickel in Quebec. Midland's partnership with Rio Algom will explore nickel in Nunavik and the deal comes at the back of increasing demand for nickel for use in EV batteries.

Atlantic Equities Initiates Overweight Position For Shopify Inc. Stock

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Another stock that with one of the highest market capitalizations among the large-cap category is Shopify Inc. (NYSE:SHOP) whose market cap is $126.55. The company's stock inched higher following the initiation of an overweight rating at Atlantic Equities because of a huge addressable market for the company. The investment firm has set a target price of $1,150 per share on the e-commerce giant's stock which represents an upside potential of 17% on the closing price of the Stock on August 25, 2020.

Currently, Shopify is under-monetized according to Atlantic Equities with product extensions like fulfillment offering a huge upside opportunity. The valuation of the stock is a major hurdle but the addressable market is huge and there are growing benefits to scale with e-commerce accelerating following the reopening of economies.

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