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Novavax and Moderna Shares Fall as Citi Assesses Vaccine Sector Volatility
Shares of Novavax Inc (NASDAQ:NVAX) and Moderna Inc (NASDAQ:MRNA) declined on Wednesday after both companies rose in the previous session following reports of a suspected pneumonic plague case in Russia. Novavax shares fell 11% after gaining 20% on Tuesday, while Moderna declined 6% following a 7% increase in the prior session. The iShares Biotechnology ETF…
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Blue Owl Plans Expansion Into Insurance Capital, Co-CEO Tells FT
Blue Owl (NYSE:OWL) plans to expand the amount of insurance capital it manages as the alternative investment firm seeks additional sources of long-term capital, Co-Chief Executive Doug Ostrover told the Financial Times. Ostrover said Blue Owl sees opportunities to increase its relationships with insurers as alternative asset managers seek access to larger pools of long-duration…
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AMD Continues to Explore Samsung Foundry Partnership, CEO Lisa Su Says
AMD (NASDAQ:AMD) continues to explore potential partnerships with Samsung Electronics (USOTC:SSNHZ) across memory supply and semiconductor manufacturing, Chief Executive Lisa Su said on Wednesday. Speaking to reporters during a visit to Seoul, Su said AMD was working with customers to manage memory requirements amid constrained supplies. “We are working with our customers to optimise their…
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Intel to Remain Involved in Musk’s Terafab Chip Project, Bloomberg Reports
Intel (NASDAQ:INTC) will continue working with Elon Musk on the planned Terafab semiconductor manufacturing project, Chief Executive Lip-Bu Tan told Bloomberg. The comments follow Musk’s disclosure earlier this week that discussions were taking place with Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) regarding potential cooperation on Terafab. Intel joined the project as a development partner in April.…
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Musk Says Tesla and SpaceX Will Build and Operate Terafab AI Chip Complex
Tesla (NASDAQ:TSLA) and SpaceX (NASDAQ:SPCX) Chief Executive Elon Musk said the companies will build and operate the planned Terafab artificial intelligence chip manufacturing complex in Texas, while TSMC (NYSE:TSM) could potentially sublease part of the facility. Terafab is a planned joint Tesla-SpaceX project intended to establish a large-scale semiconductor manufacturing facility for artificial intelligence chips.…
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SpaceX Seeks $40 Billion Financing for Nvidia Chips, FT Reports
SpaceX (NASDAQ:SPCX) is seeking $40 billion in financing for purchases of Nvidia (NASDAQ:NVDA) artificial intelligence chips, with Apollo Global Management (NYSE:APO) expected to lead the transaction, according to the Financial Times, citing people familiar with the matter. SpaceX shares fell 1.9% in pre-market trading following the report. The company is seeking approximately $10 billion in…
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Gold Prices Fall as Dollar Strengthens Ahead of Federal Reserve Minutes
Gold prices declined on Wednesday as the US dollar strengthened and investors awaited minutes from the Federal Reserve’s September policy meeting for further indications about the outlook for interest rates. At 08:40 GMT, spot gold was down 0.9% at $4,126.02 an ounce, while gold futures declined 0.8% to $4,151.90 an ounce. The US Dollar Index,…
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Oil Prices Edge Higher as Markets Assess Middle East and US Supply Risks
Oil prices moved slightly higher on Wednesday as investors assessed improving crude exports from the Gulf alongside continuing risks to supplies from the Middle East and potential weather-related disruption in the United States. At 08:08 GMT, benchmark Brent crude futures were up 0.4% at $100.96 a barrel, while US West Texas Intermediate futures were broadly…
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US Futures Edge Lower Ahead of FOMC Minutes as Constellation Brands Reports Results: Dow Jones, S&P, Nasdaq, Wall Street
US stock futures moved slightly lower on Wednesday as investors awaited minutes from the Federal Reserve’s September policy meeting, while corporate developments at SpaceX, Constellation Brands and Levi Strauss were also in focus. At 06:56 GMT, Dow futures were down 108 points, or 0.2%, while S&P 500 futures were broadly unchanged. Nasdaq 100 futures declined…
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S&P 500 and Nasdaq Notch Record Highs as AI Rally and Easing Bond Yields Lift Wall Street
U.S. stocks finished higher on Tuesday, with the S&P 500 and Nasdaq Composite reaching record highs during the session as investors piled back into artificial intelligence names. A pullback in Treasury yields from Monday’s multi-decade highs gave stocks extra room to run, since lower yields make borrowing cheaper and make stocks look more attractive compared…