ServiceNow NYSE:NOW rose 2.3% Monday after BTIG said channel checks point to a meaningful shift in the company's AI narrative ahead of fiscal Q2 results.BTIG analyst Allan Verkhovski kept a Buy rating and $150 price target, saying ServiceNow is benefiting from early renewals and customers accepting…
Stellantis NYSE:STLA fell about 1.7% Monday after extending the summer production halt at its Mirafiori plant in Turin by 1 week, Reuters reported.The automaker told unions the plant will stop operations from July 27 to July 31, ahead of a planned 3-week August shutdown. Stellantis said parts short…
Micron NASDAQ:MU and Intel (NASDAQ:INTC) led chip stocks lower Monday even as the broader market moved higher on easing U.S.-Iran tensions.Micron fell 6% after a class-action lawsuit filed in California accused Micron, Samsung and SK Hynix of coordinating to restrict DRAM supply and push prices hig…
Apple NASDAQ:AAPL is back in focus as Wall Street and Washington react to reports that the company is seeking clearance to buy memory chips from China's CXMT.Loop Capital reiterated its Buy rating, saying Apple's reported lobbying effort fits its research that the company is looking more deeply at…
Planet Labs NYSE:PL shares jumped as much as 12% on Monday, potentially driven by a major acquisition elsewhere in the space sector rather than company-specific news.The catalyst appears to be Rocket Lab's (RKLB) announcement that it will acquire Iridium Communications (IRDM) in an $8 billion cash…
Tesla NASDAQ:TSLA rose 6.26% intraday after the National Highway Traffic Safety Administration formally closed its engineering analysis into power steering loss affecting approximately 376,241 Model 3 and Model Y vehicles from the 2023 model year, following Tesla's over-the-air software recall and…
Martin Marietta Materials NYSE:MLM has agreed to combine with Lhoist North America in a $13.5 billion transaction, including debt, as the company looks to deepen its position in construction materials. The deal will be funded with $7 billion in cash and $6.5 billion in Martin Marietta stock, giving…
Volkswagen's (VWAGY) restructuring battle could be entering a more serious phase as labor leaders say they have not been included in any plan to cut as many as 100,000 jobs in Germany. The dispute is putting fresh focus on governance tensions at Europe's biggest carmaker, especially as management l…
Alphabet NASDAQ:GOOG is expanding its push into specialized AI by bringing SandboxAQ's large quantitative models to Google Cloud Marketplace. The move could give enterprise and research customers broader access to AI tools built for drug discovery, materials science and semiconductor manufacturing…
Former Walt Disney Co. NYSE:DIS CEO Bob Iger and Thrive Capital founder Joshua Kushner have reportedly hired investment bankers and discussed a possible bid for a majority stake in a Las Vegas NBA expansion team. The move comes after the NBA's board of governors approved the exploration of potentia…
South Korean stocks recovered much of their earlier losses after Samsung Electronics (SSNLF) and SK Hynix (HXSCL) unveiled major investment plans tied to the country's AI push. The Kospi finished down just 0.2%, after falling as much as 3.4%, as investors weighed the impact of massive chip spending…
Strategy NASDAQ:MSTR rose 5.27% in premarket despite the Bitcoin treasury company announcing a Digital Credit Capital Framework that allows it to sell Bitcoin. The board has approved a BTC Monetization Program allowing the company to sell Bitcoin to generate up to $1.25 billion for its USD Reserve…
US-listed Bitcoin (BTC-USD) exchange-traded funds are facing a sharp investor retreat, with the 13 funds on track for their worst month of withdrawals since launching in January 2024. Investors have pulled more than $4.1 billion from the products in June, according to Bloomberg-compiled data, while…
The European Investment Bank has approved a record 3 billion loan for Airbus (EADSY) as the EU moves to strengthen its technological sovereignty against tougher competition from the US and China.The first 1 billion tranche, signed Monday in Brussels, will support Airbus's research, development and…
Micron Technology NASDAQ:MU stock is in focus after Phillip Securities raised its price target on the memory-chip maker, citing continued strength in DRAM and NAND markets and expectations that industry supply constraints could persist for several years.The revised target was increased to $1,870 fr…
British American Tobacco NYSE:BTI is moving ahead with a major restructuring plan as the Dunhill cigarette maker works to cut costs and simplify its global operations. The company is set to cut 5,500 jobs and outsource another 3,500 roles by the end of this year, equal to about one-fifth of its 47…
Amazon.com NASDAQ:AMZN and Walmart NASDAQ:WMT-owned Flipkart are ramping up their push into India's fast-growing quick-commerce market, putting fresh pressure on incumbents Eternal and Swiggy. The intensified competition has weighed on investor sentiment, with Eternal shares falling 28% from their…
Palantir Technologies NASDAQ:PLTR rose about 4% Monday after the software company unveiled a new artificial intelligence initiative with Nvidia NASDAQ:NVDA aimed at helping U.S. government agencies and critical infrastructure operators deploy advanced AI models in highly secure environments.The col…
Comcast NASDAQ:CMCSA jumped more than 20% in premarket trading Monday after the company outlined plans to separate its media and entertainment operations from its broadband and wireless business through a tax-free spin-off of NBCUniversal and Sky.Under the proposed transaction, Comcast shareholders…
STMicroelectronics (STM, Financials) climbed after Barclays turned more positive on the chipmaker's outlook. The bank upgraded the stock to Equal Weight from Underweight and lifted its price target to $65 from $34.Barclays said its earlier concerns about gross margins are less pressing now because…
