Category: Latest News
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Chip stocks climb as OpenAI’s Stargate project fuels AI memory demand speculation
Shares in semiconductor companies advanced Thursday after reports indicated that South Korea’s top tech firms signed initial agreements to supply chips for OpenAI’s Stargate initiative, stoking optimism over rising AI memory requirements. Micron (NASDAQ:MU) rose 1%, Advanced Micro Devices (NASDAQ:AMD) gained 3%, NVIDIA (NASDAQ:NVDA) added 1%, SanDisk (NASDAQ:SNDK) jumped 4.6%, Lam Research (NASDAQ:LRCX) climbed 2%,…
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Nike stock lifted as KeyBanc upgrades on signs of turnaround momentum
KeyBanc Capital Markets raised its rating on Nike (NYSE:NKE) to Overweight, pointing to encouraging early progress under the sportswear giant’s “Win Now” recovery plan after a stronger-than-expected first quarter. Analysts noted that execution is improving in several key segments, particularly running, North America, and wholesale distribution. Sales in the running category climbed more than 20%,…
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Rivian shares slip as EV maker tightens 2025 delivery outlook
Rivian Automotive Inc (NASDAQ:RIVN) saw its stock decline 2.3% in premarket trading on Thursday after the electric vehicle manufacturer revised its 2025 delivery forecast to a narrower range. The company reported that it built 10,720 vehicles at its Normal, Illinois plant and handed over 13,201 units in the third quarter ending September 30. While those…
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Anavex shares climb on upbeat results from schizophrenia trial
Anavex Life Sciences Corp. (NASDAQ:AVXL) saw its stock advance 5% after releasing positive topline data from a Phase 2 study evaluating ANAVEX®3-71 in adults with schizophrenia who were already receiving stable antipsychotic treatment. The biopharmaceutical company said the trial reached its primary endpoint, showing that ANAVEX®3-71 was both safe and well-tolerated. No serious treatment-emergent adverse…
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Berkshire Hathaway buys OxyChem from Occidental for $9.7 billion
Warren Buffett’s Berkshire Hathaway (NYSE:BRK.B) announced an agreement to acquire Occidental Petroleum’s petrochemical unit (OxyChem) for $9.7 billion in cash. OxyChem manufactures basic chemicals such as chlorine, sodium hydroxide, and vinyl derivatives used in water treatment, healthcare, and construction. The deal will be Berkshire’s largest acquisition since 2022, when it paid $11.6 billion for insurer…
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Morgan Stanley raises Apple target on stronger iPhone 17 demand
Morgan Stanley increased its price target for Apple (NASDAQ:AAPL) shares to $298 from $240, maintaining an Overweight rating, after observing a stronger-than-anticipated start to the iPhone 17 cycle. “The iPhone 17 cycle is modestly stronger than we originally expected,” the Morgan Stanley analysts said, noting that while “the market has already priced this in,” there…
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Fermi shares surge again following strong market debut
Fermi (NASDAQ:FRMI) saw its shares climb as much as 21% in premarket trading on Thursday, continuing the momentum from the Texas-based real estate investment trust’s successful debut. The REIT, co-founded by former U.S. Energy Secretary Rick Perry, had soared 55% on its first trading day Wednesday, closing at $32.53, well above its initial public offering…
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Dow Jones, S&P, Nasdaq, Wall Street Futures, OpenAI Valuation, Challenger Layoffs, and Market Movers in Focus
U.S. stock futures were mostly higher Thursday as disappointing private payroll data fueled hopes for additional Federal Reserve interest rate cuts, even as a prolonged U.S. government shutdown continued to cloud sentiment. ChatGPT developer OpenAI reportedly reached a $500 billion valuation following a new secondary share sale, making it the world’s most valuable startup. Meanwhile,…
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Oil climbs slightly as Russia sanctions fears offset supply concerns
Oil prices inched higher on Thursday after a three-day slide, buoyed by worries over potential tighter sanctions on Russian crude, though abundant supply kept gains in check. At 06:31 GMT, Brent futures rose 20 cents, or 0.31%, to $65.55 a barrel, while U.S. West Texas Intermediate (WTI) gained 20 cents, or 0.32%, to $61.98 a…
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Gold Nears Record Levels as US Shutdown and Fed Rate Cuts Support Demand
Gold prices held near record highs on Thursday in Asian trading, buoyed by safe-haven buying amid the ongoing U.S. government shutdown and increasing expectations of further Federal Reserve interest rate reductions. The precious metal climbed to multiple highs this week after the U.S. government partially closed following Congress’s failure to pass a spending bill. The…