ADVFN US – Market Content Editor
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JPMorgan Downgrades Stellantis as Cost-Cutting Benefits Expected to Take Longer to Materialise (STLA)
JPMorgan Turns More Cautious on Stellantis J.P. Morgan downgraded Stellantis (NYSE:STLA) to Neutral from Overweight on Thursday, while cutting its price target to €6 from €10, arguing that the automaker’s restructuring efforts will take longer than previously anticipated to translate into stronger earnings. Shares listed in the U.S. fell 1.8% in pre-market trading, while the…
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Starbucks Develops AI Software to Reduce Reliance on Microsoft and IBM, Report Says (SBUX)
Starbucks Expands Internal AI Development Starbucks Corp. (NASDAQ:SBUX) is reportedly developing artificial intelligence-powered software that could replace several enterprise applications currently supplied by Microsoft Corp. (NASDAQ:MSFT) and International Business Machines Corp. (NYSE:IBM), according to a Bloomberg report citing an internal company presentation. Among the projects under development are replacements for Microsoft’s inventory management software and…
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Meta Shares Slip as Heavy AI Infrastructure Spending Weighs on Investor Sentiment (META)
Massive AI Investment Overshadows In-House Chip Progress Meta Platforms (NASDAQ:META) shares fell 2.6% on Thursday morning as investors focused on the enormous cost of the company’s artificial intelligence expansion, despite progress toward developing its own AI chips. The social media giant revealed plans to begin production of its first internally designed AI chip, code-named “Iris,”…
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Forte Biosciences Shares Climb After Positive Phase 1b Vitiligo Trial Results (FBRX)
FB102 Demonstrates Statistically Significant Efficacy Forte Biosciences (NASDAQ:FBRX) shares rose 12% on Thursday after the clinical-stage biotechnology company announced encouraging data from its Phase 1b trial evaluating FB102 as a treatment for vitiligo. The study showed that patients treated with FB102 achieved a mean improvement of 29.6% in Facial Vitiligo Area Scoring Index (FVASI) from…
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Enovix Shares Jump After Former Apple Executive Appointed COO (ENVX)
Enovix Strengthens Leadership With Operations Veteran Enovix Corporation (NASDAQ:ENVX) shares surged 17.1% in pre-market trading on Thursday after the advanced battery developer announced the appointment of former Apple executive Dr. Michael Vyvoda as its new Chief Operating Officer. Vyvoda will officially join the company on 29 July 2026, bringing more than 25 years of experience…
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Virax Biolabs Shares Double After Exclusive Fosun Distribution Agreement (VRAX)
Virax Biolabs Signs Multi-Country Supply Partnership Virax Biolabs Group Limited (NASDAQ:VRAX) shares surged 100% on Thursday after the company announced an exclusive commercial supply agreement with Fosun Diagnostics for its ImmuneSelect immune profiling product portfolio. The agreement covers six Southeast Asian markets—Thailand, Vietnam, Indonesia, the Philippines, Singapore and Malaysia—and establishes a framework for immediate product…
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Rackspace Shares Rise Despite Lower FY26 Outlook as Company Expands AI Strategy (RXT)
Rackspace Lowers Full-Year Guidance Rackspace Technology (NASDAQ:RXT) revised its fiscal 2026 outlook lower, reducing its revenue forecast by $150 million and cutting its adjusted EBITDA guidance by $20 million, while outlining plans to accelerate its enterprise artificial intelligence business. The company attributed the weaker outlook to ongoing supply constraints, geopolitical uncertainty and a strategic decision…
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Simply Good Foods Shares Surge After Third-Quarter Earnings Beat Expectations (SMPL)
Earnings and Revenue Top Forecasts Simply Good Foods Company (NASDAQ:SMPL) shares surged nearly 16% in pre-market trading on Thursday after the nutritional snacking company reported third-quarter results that exceeded Wall Street expectations. Adjusted earnings came in at $0.42 per share, comfortably ahead of analysts’ forecast of $0.35. Revenue reached $357.0 million, surpassing the consensus estimate…
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FuelCell Energy Shares Surge After Strategic Collaboration With Siemens (FCEL)
FuelCell Energy and Siemens Partner on Large-Scale Power Solutions FuelCell Energy (NASDAQ:FCEL) shares jumped 11% on Thursday morning after the company announced a strategic collaboration with Siemens to develop scalable fuel cell power solutions for distributed energy projects. The partnership has been formalized through a memorandum of understanding that combines Siemens’ electrical engineering expertise with…
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InMode Shares Jump After Steel Partners Tables Higher Takeover Proposal (INMD)
Steel Partners Makes Competing Bid for InMode InMode Ltd (NASDAQ:INMD) shares gained 4% in pre-market trading on Thursday after Steel Partners Holdings L.P. submitted a proposal to acquire the medical aesthetics company for $16.75 per share in cash. Steel Partners, one of InMode’s major shareholders, said its offer represents a 20% premium to the company’s…