Abivax NASDAQ:ABVX shares jumped as much as 36% after its latest obefazimod trial update helped calm investor concerns that cancer could be a possible side effect of the biotech's key experimental ulcerative colitis drug. The company said cancer cases reported in the study were within a background…
Forgent Power Solutions Inc. NYSE:FPS and its private equity backer Neos Partners LP are preparing another major stock sale, offering about 35 million shares just months after Forgent went public in February. The transaction would include 23.3 million shares from Neos affiliates and 11.7 million sh…
Artificial intelligence infrastructure is expected to remain the biggest driver of corporate profits in the second quarter, with Wells Fargo forecasting 22% year-over-year earnings growth for the S&P 500.The bank expects S&P 500 earnings per share to accelerate from 19% growth in the first quarter…
Nvidia (NVDA, Financials) rose after SemiAnalysis said the company's data center revenue could come in well above Wall Street expectations later this year.The research firm expects Nvidia's second-half fiscal 2027 data center computing revenue to be about 20% higher than current consensus forecasts…
Shell NYSE:SHEL may be close to another major portfolio cleanup move.Bloomberg reported that Shell is in advanced talks to sell its South African fuel station network to ADNOC's retail arm in a deal worth about $1 billion. The transaction could be announced within days and would hand ADNOC roughly…
IBM NYSE:IBM named Stagwell NASDAQ:STGW as its lead creative partner, giving the marketing group a larger role in shaping IBM's brand campaigns across markets.Stagwell agencies Code and Theory and Anomaly will work together as one creative team for IBM. Their work will support brand and campaign ac…
Citigroup strategists have reported a sharp slowdown in retail investor activity across the Magnificent Seven, with trading participation falling to a four-year low after months of muted demand. Retail traders accounted for just 6% of total trading over the five days through Friday in Alphabet NASD…
BMW AG (BMWKY) is preparing to launch production of its first US-built electric vehicle, even as parts of the auto industry pull back from aggressive EV plans. The German automaker said it will begin making the revamped X5 later this year at its Spartanburg, South Carolina plant, with the electric…
Alphabet NASDAQ:GOOG launched 2 new AI models Tuesday, Nano Banana 2 Lite and Gemini Omni Flash, as Google pushes deeper into low-cost image generation and video creation tools.Nano Banana 2 Lite is Google's most cost-efficient Gemini Image model. The company said it can generate text-to-image outp…
Comcast NASDAQ:CMCSA is preparing to spin off NBCUniversal and Sky into a separate independently traded company, giving investors a cleaner view of the media assets behind Saturday Night Live, The Office, Jurassic Park, Peacock, Telemundo, sports rights and Universal theme parks. The move separates…
American Express NYSE:AXP is giving US cardholders a new way to stretch their rewards, allowing Membership Rewards points to be used directly through Apple NASDAQ:AAPL Pay for online and in-app purchases. The new feature could make points feel more practical for everyday spending, especially as con…
Schneider Electric (SBGSY) has agreed to acquire Cognite in a $3.1 billion all-cash deal, expanding its position in industrial data and AI software. The company will buy 100% of Cognite's share capital from Norway's Aker ASA and other investors, giving Schneider another potential growth lever as ma…
Bitcoin (BTC-USD) fell more than 3% toward $58,000 on Tuesday as investors started questioning Strategy NASDAQ:MSTR and Michael Saylor's new financing overhaul. The move raised concerns that one of Bitcoin's biggest corporate buyers may possibly become a less dependable source of demand going forwa…
Ford NYSE:F is recalling about 741K vehicles over a transmission defect that could allow some vehicles to roll while parked.The recall covers 2018 and 2021 Lincoln Navigator and Ford Expedition SUVs, 2020 and 2021 Ford Explorer and Lincoln Aviator models, and 2021 F-150 pickups. Ford will replace d…
Tesla NASDAQ:TSLA is closing in on its second-quarter delivery numbers, which are projected to come due on July 2. Two forecasts among competing estimates are on the radar, according to data Bloomberg compiled and posted on Tesla's investor relations website. The consensus estimate from Bloomberg p…
Advanced Micro Devices NASDAQ:AMD received a higher price target from Wells Fargo after the firm raised its long-term forecasts for the company's server processor business, citing continued demand for data center chips.Wells Fargo increased its price target on Advanced Micro Devices NASDAQ:AMD to…
SanDisk NASDAQ:SNDK rose 6.43% intraday after Bernstein analyst Mark Newman raised his price target to $3,000 from $1,700, reiterating an Outperform rating. The upgrade centers on how memory makers are now structuring long-term supply agreements, which Newman says materially reduce the risk of seve…
Intel NASDAQ:INTC shares climbed about 4% in Tuesday trading after a Wells Fargo analyst raised the price target on Advanced Micro Devices NASDAQ:AMD, with investors viewing the firm's outlook for AI processors as potentially favorable for Intel as well, according to a Tuesday research note.The ana…
Micron Technology NASDAQ:MU said Tuesday it will invest $250 million to support savings accounts for children and families through the Trump Accounts program, also known as 530A Accounts, according to a Tuesday press release.As part of the initiative, Micron Technology NASDAQ:MU will match employee…
AI chip stocks rally as Nvidia, AMD and semiconductor equipment makers lift Wall StreetArtificial intelligence traded higher Tuesday, helping push major U.S. indexes into positive territory as investors returned to technology shares following last week's pullback. The gains came as chipmakers and s…
