ProCook posts 23% revenue gain but falls short of profit expectations
ProCook reported annual sales of ProCook posted annual revenue of
Stock Markets
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In-depth reporting on U.S. and global stock markets, including index performance, sector rotation, earnings reactions, volatility trends, and notable single-stock moves. Designed to help traders and investors understand what is driving price action across equities.
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Berenberg Sees Double-Digit Returns for UK Banks, Picks NatWest as Top Buy
Berenberg initiated coverage of the three largest UK domestic banks, assigning buy ratings to Barclays and NatWest and a hold on Lloyds. The brokerage set price targets implying double-digit upside for Barclays and NatWest, flagged net interest income as the main earnings driver over the next three years and said UK banks could deliver roughly 15% …
Agility Robotics to List via SPAC Merger, Implied Valuation Near $2.5 Billion
Agility Robotics, maker of the humanoid robot Digit, will become a public company through a merger with Churchill Capital Corp XI that values the business at roughly $2.5 billion. The transaction is structured to deliver more than $600 million in gross proceeds, combining funds from Churchill’s trust and a private investment in public equity (PIPE)…
MMG Shares Slip as Large Capital Raise Raises Dilution Concerns
MMG's stock declined after the company completed an US$800 million convertible bond offering and placed roughly 706 million new shares at a substantial discount. The fundraising is intended to refinance loans, back expansion work and support acquisitions, but investors reacted to the dilution risk amid a weak Hong Kong market and broader rate conce…
Wisetech Global rallies 13.6% as buyers step in after heavy sell-off
Wisetech Global shares climbed 13.6% on Wednesday, rebounding from a seven-year low as investors bought after an intense sell-off. The uptick followed a company filing clarifying its knowledge of reported legal scrutiny of founder Richard White, combined with extremely oversold price conditions that attracted buyers. The move coincided with a broad…
ByteDance in Preliminary Bank Talks for About $20 Billion Offshore Loan
ByteDance has entered early-stage conversations with banks about securing an offshore loan near $20 billion, which would be the company’s largest such borrowing. The proposed facility is slated as new-money financing with an initial three-year tenor and the potential to extend to five years. Discussions remain preliminary and terms could change as …
Zhipu Weighs Multi-Billion Dollar Equity Placement in Hong Kong
Chinese AI company Zhipu, which lists as Knowledge Atlas Technology in Hong Kong, is evaluating a share placement in Hong Kong that could raise several billion U.S. dollars. The contemplated deal would follow a six-month IPO lock-up that expires on July 8 and comes as the company pursues additional capital and considers a Shanghai A-share listing. …
Prices for Banned Nvidia AI Chips Surge on China Black Market as Enforcement Tightens
Prices for Nvidia hardware barred from export to China have risen sharply on China's black market over the past six months, according to reporting that cites interviews with Chinese traders. The DGX B300 server and RTX 6000 Pro workstation chips have seen marked increases as U.S. enforcement cracks down on illegal export channels, and a major smugg…
ASE Accelerates Site Buildout to Serve Rising AI Chip Packaging Demand
ASE Technology Holding said it is scaling production capacity with 15 new sites, major U.S. investments and an $8.5 billion capital spending plan that may grow, positioning the company to support sustained AI-related packaging and testing demand through 2029 and later years. Management highlighted greenfield builds, acquisitions from Innolux and a …
Qualcomm in talks to design custom chips for ByteDance as it seeks new revenue streams
Qualcomm is reportedly negotiating to provide bespoke chip-design services to ByteDance, using technology tied to its AlphaWave Semi acquisition, as the U.S. chipmaker attempts to diversify beyond the smartphone market. Sources say discussions include video processing units and aim for possible mass production by year-end, though the talks may not …
Asia markets hold steady as tech sell-off cools; South Korea stages volatile rebound
Asian equities traded in a narrow band on Wednesday as market participants digested signs of reduced tensions in the Middle East alongside follow-through from a global sell-off in AI-linked technology stocks. South Korea led gains, regaining part of the sharp losses seen in the prior session, while Japan and other regional markets felt pressure fro…
Anthropic's Mythos Model Flags Vulnerabilities in Classified U.S. Systems During Tests
An Anthropic artificial intelligence model detected security weaknesses in classified U.S. government computer systems during a controlled evaluation, a U.S. official said. The testing, run under Project Glasswing and using the Mythos model, identified certain vulnerabilities within hours but did not exploit them during the same period. The episode…
SK Hynix Moves Toward U.S. ADR Listing, Files Expected With Regulator
South Korean memory chip manufacturer SK Hynix is anticipated to submit documentation to the nation's financial regulator for an American Depositary Receipt (ADR) offering. The move would advance earlier plans to list shares in New York and expand the company's global investor base, with industry estimates suggesting proceeds could reach as high as…
KOSPI Climbs After Tech-Driven Rout, Samsung and SK Hynix Recover Some Losses
South Korea’s benchmark KOSPI index rebounded sharply on Wednesday, recovering part of a near-10% plunge from the prior session as major chipmakers Samsung Electronics and SK Hynix regained ground. The KOSPI rose 3.4% to 8,480.21, while Samsung jumped after reports of a large share buyback and SK Hynix advanced on plans related to an ADR listing. M…
A Longshot Memory Strategy Propels SK Hynix Past Samsung
SK Hynix's ascent to the top of South Korea's market cap rankings reflects a sustained corporate pivot into high-bandwidth memory (HBM). A strategy first pursued amid skepticism and setbacks matured into a competitive advantage as demand for AI-focused memory surged, lifting the company above a decade-long leader and reshaping the country's semicon…
Samsung Electronics Rally Follows Buyback Report After Sharp Market Drop
Samsung Electronics shares jumped 8.5% to 336,500 won on Wednesday, recovering from a heavy decline the previous day. The rebound followed reports that the company planned a near 90 trillion won share buyback, and came after a market-wide sell-off that triggered KOSPI circuit breakers and heavy ETF-driven selling.
Nike CFO Change Raises Prospect of an Earnings Reset, Evercore Says
Evercore ISI flagged that Nike's surprise appointment of David Denton as chief financial officer compounds existing concerns about the company's turnaround, increasing the likelihood of an earnings revision before an investor event expected later this year. The brokerage cited slowing sales, channel disruption, product issues and supply-chain troub…
BofA Sees Coinbase Primed to Gain from U.S. Crypto Rulemaking
Bank of America affirmed its Buy recommendation on Coinbase Global and held a $218 price target following a discussion with the company's chief financial officer. BofA said pending U.S. crypto legislation and recent product approvals position Coinbase to capture institutional flows and expand revenue, while tokenization partnerships with banks furt…
Samsung Electronics to Launch 90 Trillion Won Share Buyback After Stock Bonus Agreement, Yonhap Says
Samsung Electronics plans a share repurchase program valued at 90 trillion won after agreeing to deliver employee bonuses in stock as part of a pay deal, according to a Yonhap News Agency report. The company is expected to disclose details of the buyback soon. The stock-bonus arrangement stems from an accord between management and the union that al…
Samsung Shares Rally After Local Report of Large-Scale Buyback to Fund Stock-Based Pay
Shares of Samsung Electronics rebounded strongly after a local media report indicated the company could pursue a substantial share buyback program to support employee stock compensation. The report said additional treasury purchases approaching 90 trillion won over three years may be needed to meet stock-based pay commitments, a move that coincided…
U.S. Officials Press Meta to Submit AI Models for Voluntary Review
The Trump administration has asked Meta to voluntarily share its artificial intelligence models for review by U.S. officials, a request that would allow government evaluators to assess the capabilities and potential vulnerabilities of the systems. According to people familiar with the matter, Meta remains the only major U.S. developer that has not …
Citi Raises Macerich to Buy, Sees Room for More Gains as Turnaround Progresses
Citi has upgraded Macerich (NYSE: MAC) from neutral to buy and raised its price target to $28 from $24, citing progress on the REIT's turnaround program, a stronger balance sheet following a recent equity raise, and a pipeline of accretive acquisitions. The bank now projects higher funds-from-operations across 2026-2028 and sees further upside even…
U.S. Futures Edge Higher as Tech Rout Settles; Markets Watch Micron Earnings
U.S. stock index futures ticked up on Tuesday evening following a sharp selloff in technology and chipmaking shares that drove global markets lower. Investors digested mixed signals from U.S.-Iran peace discussions, while improving shipping through the Strait of Hormuz helped push oil prices closer to pre-war levels. Attention now turns to memory c…
Rio Tinto Pins Lithium as Its Fastest-Growing Business, Seeks Production Surge by 2028
Rio Tinto expects its lithium operations to outpace its copper, iron ore and other divisions as it aims to roughly triple lithium capacity by 2028. The miner has been integrating assets acquired through last year's Arcadium purchase, is advancing mines in Argentina and Canada, and is investing in direct lithium extraction technologies while keeping…
Con Edison Says Targeted Grid Upgrades Needed to Cope with Longer, Hotter Heat Waves
Consolidated Edison CEO Tim Cawley told attendees at the Reuters Global Energy Forum in New York that the utility must enlarge selected grid components to withstand more prolonged and intense heat waves, while avoiding a complete redesign of the electric system. He urged greater deployment of rooftop solar, battery storage, demand response and grid…