
Tariffs Hit Wall Street S&P 500 Targets
Goldman Sachs is the first major Wall Street Bank to cut its price target for the S&P 500. The firm lowered its estimates to 6,200 from 6,500. Strategists say the revised estimates reflect reduced GDP growth forecasts, higher tariffs and more uncertainty. Bloomberg's Alex Semenova joined Bloomberg Open Interest to discuss why analysts are rethinking their forecasts. (Source: Bloomberg)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
32 minutes ago
- Yahoo
Semi-conductor group Alphawave is latest tech company to quit London listing as it agrees £1.8bn takeover
Semi-conductor group Alphawave IP is to become the latest major London listed company to leave the stock market after agreeing a £1.8 billion takeover from US chip giant Qualcomm. The Gresham Street headquartered company told shareholders this morning it had finally struck a deal with its suitor after an extension for the takeover deadline was extended for the fifth time last week. Anglo-Canadian Alphawave listed in London in May 2021 when it sold £856 million of shares in an IPO valuing it at £3.1 billion. It is the latest in a stream of tech companies to quit their London listings. Last week fintech Wise said it is switching its primary listing to America. The deal overshadowed the launch of London Tech Week which was attended by Keir Starmer and Nvidia boss Jensen Huang. Darius McDermott, managing director at investment research agency FundCalibre said:'It's a telling contrast: the Prime Minister courts Nvidia's Jensen Huang just as another UK tech success story, Alphawave, is set to be acquired by an American buyer. 'Our view is the government must prioritise policies that support domestic UK capital markets – not kill them. They are critical for a well-functioning economy and society. For too long, the government has neglected, overregulated and taxed them, driving liquidity and investment out of the UK.' Alphawave, which is advised by Goldman Sachs and BMO, originally confirmed it was in talks about a sale as long ago as 1 April. But it has repeatedly pushed back the so called 'put up or shut up' deadline. Under the terms of the now agreed acquisition Alphawave shareholders will receive $2.48 in cash for each share, equivalent to 183 p. It represents a 96% premium to the share price before the start of takeover speculation. Alphawave shareholders have an option to receive the cash in sterling or in new Qualcomm shares at a rate of 0.01662 Qualcomm shares for each Alphawave share held. There is also a further alternative of 0.00964 of a New Series A Qualcomm Exchangeable Security and 0.00698 of a New Series B Qualcomm Exchangeable Security for each Alphawave share. Tony Pialis, President and chief executive officer of Alphawave, said:"Qualcomm's acquisition of Alphawave represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers. 'By combining our resources and expertise, we will be well-positioned to expand our product offerings, reach a broader customer base, and enhance our technological capabilities. Together, we will unlock new opportunities for growth, drive innovation, and create a leading player in AI compute and connectivity solutions. For our shareholders, the Alphawave Board is pleased that Qualcomm's offer provides an opportunity to realise compelling value for their shares." Cristiano Amon, President and chief executive officer of Qualcomm, said:"Under Tony's leadership Alphawave has developed leading high-speed wired connectivity and compute technologies that are complementary to our power-efficient CPU and NPU cores. Qualcomm's advanced custom processors are a natural fit for data centre workloads. 'The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data centre infrastructure." 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


Bloomberg
42 minutes ago
- Bloomberg
Insight with Haslinda Amin 6/12/2025
Bloomberg Insight Insight with Haslinda Amin, a daily news program featuring in-depth, high-profile interviews and analysis to give viewers the complete picture on the stories that matter. The show features prominent leaders spanning the worlds of business, finance, politics and culture. (Source: Bloomberg)


Business Insider
an hour ago
- Business Insider
Closing Bell Movers: Oracle jumps 7% after Q4 earnings beat
In the opening hour of the evening session, U.S. equity futures are lower, with modest degree of caution emerging after the main indices broke a string of three consecutive winning sessions on Wednesday. S&P 500, Nasdaq 100, and Dow Industrials are all down about 0.2%. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Heightened geopolitical tensions may serve as a catalyst for some profit-taking despite the benign inflation data and more visibility on U.S.-China tariff deal framework, with Reuters reporting late in the day that U.S. may partially evacuate its Iraq embassy and families of military personnel in the Middle East. Following the report, front-month WTI Crude Oil futures extended their advance toward $69 per barrel – up 6% from yesterday's close and the highest level since early April. Elsewhere in commodities, Gold jumped over 1% toward $3,400 per ounce. Earlier on Wednesday, Energy was again the best performing segment of the S&P 500 following the earlier rally in Oil prices while Consumer Discretionary and Materials sectors lagged. Following tame CPI data, Treasury yields were also down notably, with the 10-year pulling back toward 4.40% as markets priced in a greater likelihood of a more accommodative FOMC stance by 2025-end. Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGS – ALSO HIGHER – Applied Optoelectronics (AAOI) up 15.3% after announcing first volume shipment of data center transceivers Voyager Technologies (VOYG) up 7.9% on momentum following 82.2% IPO debut day Dana Incorporated (DAN) up 4.5% after announcing sale of Off-Highway business to Allison Transmission for $2.7B DOWN AFTER EARNINGS – Oxford Industries (OXM) down 8.4% ALSO LOWER –