Rheinmetall AG (RHM) shares are slipping on Wednesday – heading toward one of their sharpest single-day declines ever – due to a major blow to the company’s naval defense pipeline. On Jun. 24, the German Defense Ministry said it is cancelling the “multi-billion-euro” F126 frigate program, which was slated to be the largest naval procurement
Nvidia NVDA shares edged higher on Wednesday as the chipmaker stabilized following a broader semiconductor-sector selloff, with market participants assessing whether the stock is establishing a new trading range. Despite recent volatility, the stock has largely held above the psychologically important $200 level since breaking out of its previous range in April. Nvidia still trading
Uber Technologies (UBER) shares are ripping higher on Wednesday morning after the ride-hailing giant confirmed it has added five major, diverse brands to its on-demand Uber Eats marketplace. As investors cheered the announcement, UBER broke above its key moving averages (20-day, 50-day, and 100-day), indicating bulls are beginning to take back control across multiple timeframes.
Cerebras Systems (CBRS) shares tanked over 15% on Wednesday morning following its inaugural quarterly earnings report since its blockbuster initial public offering (IPO) last month. While the artificial intelligence (AI) chipmaker nearly doubled its Q1 revenue to $193 million and topped Street estimates, investors are concerned about the compressed profitability guidance. Cerebras expects its core
Shares of Arm Holdings continued to decline on Wednesday, extending losses after the semiconductor stock tumbled more than 10% in the previous session as investors rotated out of several high-flying artificial intelligence names. Arm shares fell 4.7% to $349.03 and are down about 19% since the beginning of the week. Despite the recent selloff, the
Shares of Hertz Global Holdings plunged on Wednesday after the car-rental company warned that second-quarter earnings are tracking toward the lower end of its guidance range, citing unexpected weakness in the used-car market. The stock sank more than 38% during trading and was on track for its largest-ever single-day percentage decline and its lowest close
Tesla shares TSLA remained under pressure on Wednesday as investors looked ahead to the electric vehicle maker’s second-quarter delivery report while increasingly focusing on speculation surrounding a potential merger with SpaceX. Tesla stock fell 1.8% to $374.69 after declining 5.8% in the previous session. The shares have dropped nearly 13% in June and are down
Macroeconomic risks, including resurgent fears of a Fed rate hike, and valuation concerns recently sent shockwaves through the tech sector, triggering a steep sell-off that caught investors off guard. The turbulence started in Asia, where South Korea’s benchmark KOSPI index crashed by about 10%, triggering a domino effect that rapidly spread to Wall Street. Along
SK Hynix shares jumped as much as 11.6% on Thursday, after the South Korean chipmaker laid out plans for one of the biggest equity offerings in market history. The Nvidia supplier plans to raise up to 45.45 trillion won, or about $29.4 billion, through a Nasdaq listing of American depositary receipts. The deal involves up
South Korea’s Kospi Index jumped by over 5% on Thursday, and is slowly nearing its all-time high of 9,387. It has soared by 184% in the last 12 months, making it the best-performing global index. Similarly, the iShares MSCI South Korea ETF (EWY) has soared by 171% in the same period and is nearing the