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MGM Resorts International shares jumped on Monday after Barry Diller’s People Inc. submitted a proposal to acquire the casino operator in a deal that values the company at approximately $18 billion, including debt. People Inc., formerly known as IAC, already owns a 26.1% stake in MGM and has offered to acquire the remaining shares it… Continue reading MGM stock jumps 14% as Barry Diller tables $18B offer

US stocks opened in the red on Monday as investors balanced renewed optimism around artificial intelligence against rising geopolitical tensions in the Middle East, while oil prices climbed following fresh developments involving Iran. The S&P 500 slipped 0.2%, while the Nasdaq Composite fell 0.1%. The Dow Jones Industrial Average was down 132 points, or 0.26%… Continue reading Dow falls 130 points as oil jumps, Nvidia gains on new AI PC chip

Arm Holdings shares soared in premarket trading on Monday after investors cheered the information that Nvidia’s new artificial intelligence-focused personal computer chip relies on Arm-based technology. The British semiconductor intellectual property company rose more than 11% before the opening bell, extending a remarkable rally that has already seen its shares more than triple in value… Continue reading ARM rises on Nvidia’s PC chip launch; Cramer says ‘amazing’ for Arm shareholders

Dell Technologies DELL shares extended their rally on Monday after the company unveiled its most affordable XPS laptop yet, adding fresh momentum to a stock already boosted by record earnings and growing demand for artificial intelligence infrastructure. The company introduced the new XPS 13 on Sunday, positioning it directly against Apple’s MacBook Neo in the… Continue reading Dell stock extends rally as new XPS 13 challenges MacBook Neo

Bank of England Governor Andrew Bailey has signalled growing concern about public-sector wage growth as a potential source of inflation pressure, saying policymakers are paying closer attention as pay increases continue to outpace those in the private sector. In remarks published by the Financial Times on Monday, Bailey said the widening gap between public- and… Continue reading BoE focuses on public-sector wage growth as inflation risk emerges

Tesla’s new car sales in Spain more than doubled in May, reflecting strong demand for the electric vehicle maker’s products in one of Europe’s key automotive markets. Registration data released by industry group ANFAC on Monday showed that Tesla sold 1,690 vehicles in Spain during May, representing a 112.8% increase compared with the same month… Continue reading Tesla’s Spain sales surge 112.8% in May as electric vehicle demand grows

A recovery in software stocks accelerated on Monday after Nvidia chief executive Jensen Huang pushed back against concerns that artificial intelligence could undermine the software industry. The comments provided a fresh tailwind to a sector that had already begun rebounding as investors bought the dip following months of heavy selling. ServiceNow (NOW) rose 10% in… Continue reading NOW, IBM, other software stocks surge as Huang eases AI fears