Category: Latest News
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TSMC Reports 45% Surge in March Revenue, Beats Q1 Expectations
Taiwan Semiconductor Manufacturing Corp, or TSMC (NYSE:TSM), reported a sharp rise in March revenue, driven by strong demand linked to artificial intelligence, reinforcing its position as the world’s leading contract chipmaker. The strong monthly performance helped lift the company’s total revenue for the first quarter slightly above market expectations. March revenue climbed 45.2% year on…
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Lumentum Shares Rise on Strong AI-Driven Demand Outlook
Shares of Lumentum Holdings Inc (NASDAQ:LITE) moved higher in U.S. premarket trading on Friday after reports indicated that surging demand from the artificial intelligence sector is expected to keep its order book filled through 2028. Other companies in the optical components space also saw gains, including Coherent and Applied Optoelectronics, reflecting broader optimism across the…
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Organon Shares Jump on Reports of Potential $12 Billion Bid from Sun Pharma
Shares of Organon (NYSE:OGN) rose 8.4% to $7.49 in premarket trading on Friday after reports indicated that India’s Sun Pharmaceutical Industries is preparing to move forward with a $12 billion binding offer for the company. According to the Economic Times, Sun Pharma has spent the past three months conducting in-depth due diligence and is now…
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Gold Slips Ahead of U.S.-Iran Talks and CPI Release, Still Set for Weekly Gain
Gold prices moved slightly lower during Asian trading on Friday but remained on course for a weekly increase, supported by a fragile ceasefire between the United States and Iran. Investors, however, stayed cautious ahead of anticipated diplomatic talks over the weekend. Spot gold declined 0.2% to $4,752.29 per ounce as of 02:31 ET (06:31 GMT),…
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Oil Gains on Saudi Supply Fears as Hormuz Traffic Remains Severely Disrupted
Oil prices moved higher on Friday, supported by renewed concerns over supply disruptions in Saudi Arabia and continued paralysis in tanker movements through the strategically vital Strait of Hormuz. Despite the uptick, crude remained on track for a weekly decline as market tensions eased somewhat following a fragile two-week ceasefire agreement between the United States…
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Markets Cautious as Fragile U.S.-Iran Truce Holds; CPI Data in Focus: Dow Jones, S&P, Nasdaq, Wall Street Futures
Futures tied to major U.S. indices traded with little direction on Friday, as investors monitored a delicate ceasefire between the United States and Iran. Continued Israeli strikes on Hezbollah-linked positions in Lebanon have added uncertainty ahead of potential weekend discussions between Washington and Tehran. Meanwhile, oil prices moved slightly higher and gold edged lower, with…
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Wall Street Extends Rally as AI Mega-Deal and Chip Strength Offset Ceasefire Jitters
U.S. stocks posted a second straight day of gains on Thursday, though at a far more measured pace than Wednesday’s blockbuster rally. Investors continued to ride the wave of optimism from the U.S.-Iran ceasefire, but fresh doubts about the agreement’s durability kept a lid on the advance. The session’s real energy came from the technology…
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C4 Therapeutics shares jump on expanded oncology collaboration with Roche
C4 Therapeutics (NASDAQ:CCCC) shares climbed about 10% after the company announced a broadened partnership with Roche (SIX:RO, ROP; OTCQX:RHHBY) to develop degrader-antibody conjugates targeting cancer. Under the terms of the agreement, C4 Therapeutics will receive an upfront payment of $20 million and could earn more than $1 billion in potential milestone payments tied to discovery,…
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Neogen tops estimates as food safety segment drives growth
Neogen Corp. (NASDAQ:NEOG) reported third-quarter results on Thursday that came in ahead of analyst forecasts, supported by strong performance in its food safety business. Shares of the company rose 1.16% in premarket trading following the announcement. The food safety and animal health company posted adjusted earnings per share of $0.09, surpassing the consensus estimate of…
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Chevron confirms oil discovery at Bandit prospect in Gulf of America
Chevron Corporation (NYSE:CVX) said it has confirmed an oil discovery at the Bandit prospect in the Gulf of America, according to a company statement. The exploration well is located in Green Canyon Block 680, roughly 125 miles south of the Louisiana coastline. The well encountered oil-bearing Miocene sand formations. Occidental Petroleum operates the project with…