Welcome to Extreme Investor Network, where we bring you the latest updates on companies making headlines in the world of finance. Today, we are covering a range of topics from artificial intelligence to electric vehicles and pharmaceutical giants. Let’s dive in!
Nvidia, the artificial intelligence darling, saw a 1% drop in its shares after a rare negative call on Wall Street. New Street Research downgraded Nvidia to hold from buy, citing limited upside given the significant run it has already had this year. This marks only the second downgrade of Nvidia in 2021.
Macy’s, the retail giant, experienced a more positive turn of events as its shares jumped over 12% after an investor group increased its buyout offer. According to The Wall Street Journal, Arkhouse Management and Brigade Capital Management raised their offer to about $24.80 per share for Macy’s, up from $24 previously.
In the world of crypto stocks, companies tied to cryptocurrency faced a downturn as the trustee for the now-defunct Mt. Gox exchange started making payments in both bitcoin and bitcoin cash to creditors. This led to drops in stocks like Marathon Digital, Microstrategy, and Coinbase.
SoftBank Group and Arm Holdings saw gains in their U.S. shares after Japanese shares hit a 24-year high. SoftBank’s founder, Masayoshi Son, unveiled the company’s plan with AI, leveraging its majority stake in British chip designer Arm for success.
Instructure, an education technology stock, surged 6.3% following reports of interest in an acquisition from private equity firms Francisco Partners and KKR. This acquisition could bring new opportunities for growth in the education sector.
Chinese EV stocks faced challenges as the European Union increased tariffs on electric vehicles imported from China. Nio, Xpeng, Zeekr, Geely, and Li Auto all experienced stock drops as a result of the tariff changes.
Novo Nordisk, a pharmaceutical giant, saw a 2% increase in its stock despite concerns of a rare eye disease linked to its products. Analysts remain optimistic about the company’s future.
Lastly, Teck Resources marked a 2% rise in its stock after Canada approved Glencore’s acquisition of Teck’s metallurgical coal business. The proceeds from the sale are expected to fund share buybacks and investments in near-term copper growth projects.
Stay tuned to Extreme Investor Network for more updates on the dynamic world of finance. Don’t miss out on valuable insights and in-depth analysis that can help you make informed investment decisions. Happy investing!