Futu Holdings (FUTU) is under immense pressure on Friday following a massive, coordinated regulatory enforcement action by Chinese authorities. Investors bailed on FUTU primarily because the swift and severe clampdown struck directly at the offshore brokerage’s core cross-border business model. The market seems to be repricing the digital brokerage platform after Beijing formalized long-standing regulatory… Continue reading FUTU stock crashes as Chinese authorities target core business
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Qualcomm soars 12% as Stellantis deepens AI vehicle partnership
Shares of Qualcomm (QCOM) Incorporated surged 12% after Stellantis announced a major expansion of its multi-year technology partnership with the chipmaker. The move will enhance Qualcomm’s role in next-generation connected and autonomous vehicles. The expanded agreement will integrate Qualcomm’s Snapdragon Digital Chassis system-on-chips across Stellantis’ future vehicle lineup, covering cockpit systems, connectivity, and advanced driver… Continue reading Qualcomm soars 12% as Stellantis deepens AI vehicle partnership
Plug Power stock gets a Bloom Energy boost: here’s why it may double
Plug Power stock price jumped by over 14% on Thurday, paring back some of the losses made in the past two weeks. It jumped to $3.78, a few points below the year-to-date high of $4.10. This rally happened as Bloom Energy boosted sentiment in the industry. Plug Power stock jumped as Bloom surged The main… Continue reading Plug Power stock gets a Bloom Energy boost: here’s why it may double
Could Apple, Netflix or Amazon buy IMAX? shares rally 16%
Shares of IMAX jumped 16% on Friday after a report from The Wall Street Journal said the company is exploring a potential sale and has approached entertainment companies as possible buyers, fueling speculation that the premium cinema technology company could become an acquisition target for major media and technology firms. According to people familiar with… Continue reading Could Apple, Netflix or Amazon buy IMAX? shares rally 16%
Workday stock surges after earnings; technicals point to a short-lived rally
Workday (NASDAQ: WDAY) stock price surged by over 10% in the pre-market session as investors bought the dip following its better-than-estimated results. It rose to $136, modestly higher than the year-to-date low of $110. Workday stock is soaring after earnings report WDAY stock has been under pressure in the past few years, moving from a… Continue reading Workday stock surges after earnings; technicals point to a short-lived rally
Dow jumps 370 Points as AI optimism, Iran talks lift stocks
Wall Street opened higher on Friday ahead of the Memorial Day holiday weekend as investors monitored ongoing diplomatic efforts surrounding the nearly three-month-long conflict in the Middle East, while easing Treasury yields and continued enthusiasm around artificial intelligence supported broader market sentiment. The Dow Jones Industrial Average rose roughly 373 points, or 0.74%, while the… Continue reading Dow jumps 370 Points as AI optimism, Iran talks lift stocks
Estée Lauder stock jumps as Puig merger talks collapse
Shares of Estée Lauder (EL) climbed sharply on Friday after the cosmetics company and Spanish beauty group Puig Brands announced they had terminated merger discussions that could have created one of the world’s largest luxury beauty companies. Estée Lauder shares rose roughly 11% in premarket trading, putting the stock on track for its strongest single-day… Continue reading Estée Lauder stock jumps as Puig merger talks collapse
Torrent Pharmaceuticals Q4 profit drops despite strong revenue growth
Indian drugmaker Torrent Pharmaceuticals reported a 21.9% decline in fourth-quarter profit on Friday, as acquisition-related expenses linked to its deal with JB Chemicals and Pharmaceuticals weighed on earnings despite strong revenue growth. The company posted a consolidated net profit of 3.89 billion rupees ($40.65 million) for the quarter ended March 31, compared with 4.98 billion… Continue reading Torrent Pharmaceuticals Q4 profit drops despite strong revenue growth
UK stocks rise as weaker data tempers Bank of England hike bets
The UK’s benchmark FTSE 100 index was on track to end a four-week losing streak on Friday after a series of economic data releases weakened expectations of an immediate interest rate hike from the Bank of England. The blue-chip index rose 0.21% by 11:18 am GMT, while the midcap FTSE 250 gained 0.57%. Investors appeared… Continue reading UK stocks rise as weaker data tempers Bank of England hike bets