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Business Insider
39 minutes ago
- Business Insider
Intel CEO meets with Trump, Cardinal Health to acquire Solaris: Morning Buzz
The major averages were broadly higher near noon after the headline consumer price index rose 0.2% in July and the core increased 0.3%, exactly as forecast. The news reassured investors who were concerned about Trump's tariff policies potentially spiking prices in the U.S. economy. The tame inflation report might give the Federal Reserve the green light to cut interest rates next month, traders appear to be surmising. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Looking to commodities, gold prices were fractionally lower, falling to below $3,400 for the first time in weeks. Meanwhile, oil prices continue their decline ahead of Tuesday's API crude numbers. morning Fly By on YouTube. 1. STOCK NEWS: Intel (INTC) said CEO Lip-Bu Tan had a 'candid' and 'constructive' discussion with President Trump, with the president calling the meeting 'interesting' Meanwhile, Trump said that Goldman Sachs (GS) CEO David Solomon should 'focus on being a DJ' instead of running a bank, tying the criticism to Goldman's previous statement's about tariffs Cardinal Health (CAH) provided a 'beat and raise' report for Q4 and agreed to acquire Solaris Health for $1.9B in cash China is urging companies not tot use Nvidia's (NVDA) H20 chips, Bloomberg reports Sinclair (SBGI) has launched a strategic review for its broadcast business 2. WALL STREET CALLS: Starbucks (SBUX) upgraded at Baird, here's why Piper upgraded Chipotle (CMG) to Overweight after 31% selloff Shopify (SHOP) downgraded to Neutral from Accumulate at Phillip Securities Palo Alto Networks (PANW) upgraded to Overweight from Neutral at Piper Sandler PubMatic downgraded to Neutral at B. Riley and Hold at Lake Street after softer than expected Q3 outlook 3. AROUND THE WEB: Perplexity has offered $34.5B to acquire Google's (GOOGL) Chrome browser, The Wall Street Journal reports Gildan Activewear (GIL) is weighing a cash and stock offer for Hanesbrands (HBI) that would value the company at about $6 a share, Bloomberg reports Citigroup (C) Chief Executive Officer Jane Fraser is in Mexico City for talks with President Claudia Sheinbaum that include the potential public listing of her bank's retail unit Banamex, Bloomberg says Amdocs (DOX) is set to lay off 'hundreds' of employees, including many in Israel, Globes reports General Motors (GM) seeks to hire back some former employees of its Cruise autonomous vehicle business in a renewed push to develop self-driving cars, Bloomberg reports 4. MOVERS: WideOpenWest (WOW) increases after announcing it will be taken private by DigitalBridge in a $1.5B deal Green Dot (GDOT) higher after reporting Q2 results and raised its guidance for FY25 Gevo (GEVO) and 3D Systems (DDD) gains after reporting quarterly results Fluence Energy (FLNC) lower after reporting Q3 results and backing its guidance for FY25 BigBear. ai (BBAI) and Microvast (MVST) fall after reporting quarterly results 5. EARNINGS/GUIDANCE: On Holding (ONON) reported Q2 results and raised its guidance for FY25 Celanese (CE) reported Q2 results, with EPS and revenue beating consensus Smithfield Foods (SFD) reported Q2 results, with CEO Shane Smith commenting, 'Our strong second quarter results demonstrate the agility and resilience of our business' Venture Global (VG) reported Q2 results and backed its guidance for FY25, with CEO Mike Sabel commenting, 'We are pleased to announce another strong quarter' Circle Internet (CRCL) reported Q2 results, with revenue beating consensus INDEXES: Near midday, the Dow was up/down xxx, or xxx%, to xxx, the Nasdaq was up/down xxx, or xxx%, to xxx, and the S&P 500 was up/down xxx, or xxx%, to xxx.
Business Insider
an hour ago
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Morning News Wrap-Up: Tuesday's Biggest Stock Market Stories!
Investors on the lookout for all of the hottest stock market stories are in the right place. TipRanks is home to a roundup of all the biggest stock market news and headlines traders need to know about on Tuesday! Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. WideOpenWest (WOW) stock rallied today after it announced a $1.5 billion deal that would take it private. Archer Aviation (ACHR) stock was down after the company failed to impress investors with its Q2 earnings report. Oklo (OKLO) stock dipped after the company missed estimates in its most recent earnings report. ProPhase Labs (PRPH) stock rocketed higher after the company was granted a patent for its biomarker-based systems and methods. Myomo (MYO) stock plummeted after the company slashed its revenue guidance despite a Q2 beat. 180 Life Sciences (ATNF) stock soared after the company announced its purchase of $349 million worth of Ethereum (ETH). The Dow Jones Industrial Average (DJIA) was up today alongside the latest inflation data from the Bureau of Labor Statistics. AST SpaceMobile (ASTS) stock took off after it revealed a fully funded satellite deployment plan to rival SpaceX. BigBear. ai Holdings (BBAI) stock was down after analysts weighed in on the shares following the company's latest earnings report. Kodak (KODK) stock plummeted after the company provided a going-concern warning in its Q2 earnings report. Advanced Micro Devices (AMD) CEO Lisa Su said she 'Absolutely, 100 percent' supports bringing chip manufacturing back to the U.S. Berkshire Hathaway (BRK.B) is expected to reveal a new mystery stock later this week. SoundHound AI (SOUN) stock rallied as more analysts updated coverage alongside a bullish wave. Roblox (RBLX) stock gained even as the company faced increased pressure over predator allegations.
Yahoo
an hour ago
- Yahoo
AI search firm Perplexity makes $34.5 billion surprise bid for Google Chrome
Artificial intelligence search company Perplexity has made an unsolicited, $34.5 billion offer to purchase Google's Chrome browser, a surprise move by a Google Search challenger that's looking to upend how people find information online. Perplexity spokesperson Jesse Dwyer confirmed to CNN the details of the offer, which The Wall Street Journal first reported. The bid comes as Google awaits a court's decision after a landmark ruling last year found that the internet giant had violated US antitrust law with its search business. The US Justice Department has proposed as a remedy that Google sell its Chrome browser. Google has promised to appeal the ruling and called the idea of spinning off Chrome an 'unprecedented proposal' that it says would harm consumers and security. Google declined to provide a comment to CNN regarding Perplexity's bid. Perplexity's offer — while likely a long shot, given Google's resistance to a forced sale of Chrome — marks the latest example of how new firms are taking on tech's biggest players to reshape the internet in the AI era. Perplexity is a nearly three-year-old startup whose search tool uses AI models to parse web content and curate answers. Answers are usually posted as a summary, although Perplexity does provide links to its sources. It launched an AI search engine that competes with Google's dominant offering in December 2022. Perplexity launched its own AI-powered web browser called Comet in July. The company is pitching it as a more personalized browser that connects the dots between a user's calendars, browsing tabs, social channels and more. OpenAI is also said to be developing a web browser, according to Reuters, in yet another signal that AI companies are looking to play a bigger role in how people use the web. Perplexity said it would maintain users' current browsing preferences, including Google as the default search engine, if it were to buy Chrome, Dwyer told CNN. It would also commit to 'continued available and support' for Chrome for 100 months and investing $3 billion in Chromium over the next 24 months, according to Dwyer. Chromium is Google's open-source underlying technology that other tech companies – including Microsoft and Perplexity – can use to build their own browsers. Perplexity made the offer because it 'believes in the open web,' Dwyer said. Perplexity was most recently valued at $18 billion following a $100 million funding round, Bloomberg said in a report last month, citing a person familiar with the matter. The company did not comment on the report. That makes Perplexity's offer for Chrome worth nearly double its own valuation. Google, meanwhile, is worth nearly $2.5 trillion; shares of the company (GOOGL) rose around 1% on Tuesday. The Wall Street Journal reported that several investors have agreed to back the purchase, including large venture capital firms. 'This is a smart and opportunistic move by Perplexity given the case against Google and regulatory scrutiny,' Wedbush tech analyst Dan Ives told CNN, adding that he estimates Chrome is worth at least $50 billion. 'This is all a game of high stakes poker and Perplexity made a good move.' Google Chrome isn't the only high profile acquisition target that Perplexity has pursued. The company said earlier this year it was making a bid to buy TikTok, after a law was passed last year requiring the social media app's parent company, ByteDance, to sell it to a non-China-based company or face a ban in the United States. Perplexity has also reportedly been eyeballed by bigger tech players — both Meta and Apple have had discussions about buying the AI search firm, according to reports from Bloomberg and The Information, although it's not clear the talks will go anywhere. This story has been updated with additional developments and context. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
