logo
Stock Movers: Warner Brothers Discovery, Qualcomm, Starbucks

Stock Movers: Warner Brothers Discovery, Qualcomm, Starbucks

Bloomberg2 days ago

On this episode of Stock Movers: - Warner Brothers Discovery (WBD) shares rise after the company said it will split its streaming and studios business and its TV networks operations by the middle of next year. The streaming and studios company will include Warner Brothers Television, the Motion Picture Group, DC Studios, HBO, and HBO Max. - Qualcomm (QCOM) shares rise after the company reached an agreement to buy Alphawave for $2.4 billion. The offer equates to about 183 pence per share for Alphawave -- a 96% premium to the company's share price on March 31, the last trading day before Alphawave and Qualcomm disclosed the talks. - Starbucks (SBUX) shares rise after the company announced price cuts for a slew of its tea-based beverages at its stores across China. It's the latest campaign to appeal to Chinese consumers for non-coffee offerings during summer.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US-China trade deal news, Fed rate cut odds: Market Takeaways
US-China trade deal news, Fed rate cut odds: Market Takeaways

Yahoo

time23 minutes ago

  • Yahoo

US-China trade deal news, Fed rate cut odds: Market Takeaways

US stocks (^DJI, ^IXIC, ^GSPC) eased off the gas and closed Wednesday's session slightly in the red after May's Consumer Price Index (PPI) indicated inflation to be cooling. Yahoo Finance senior markets reporter Josh Schafer examines the trading day's biggest themes and catalysts for equities, including how markets have been reacting to President Trump's touting of a US-China trade deal and what the fresh inflation data indicates about the Federal Reserve's odds of cutting interest rates. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. 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

Potential US-China Trade 'deal'highlights US dependence on China's rare earth minerals
Potential US-China Trade 'deal'highlights US dependence on China's rare earth minerals

Forbes

time28 minutes ago

  • Forbes

Potential US-China Trade 'deal'highlights US dependence on China's rare earth minerals

President Donald Trump announced that the U.S. has reached a trade deal with China, subject to final approval by Chinese President Xi Jinping. A central component of the deal, reportedly includes expanding U.S. access to Chinese rare earth minerals, in exchange for concessions allowing more Chinese students to attend American universities and the export of sensitive products to China. Though the full details of the deal are still unfolding, the U.S. is at a disadvantage in the negotiations. Reportedly Beijing is only offering a concession that it had already offered a month ago to lift the blockade on shipments of rare earth minerals. The current deal may be a short-term solution for a much larger, long-term problem. Much attention has been given to the importance of rare earth minerals for electric vehicles, electronics, robots and wind turbines. But rare earth minerals are not just important to the global economy and energy supply. They also play a critical role in defence. Syracuse University Professor Sean McFate claimed that 'what oil was to the 20th century, rare earth minerals are to the 21st." Rare earths minerals are used in almost every form of advanced defence technology. Tanks, lasers, missiles, fighter jets, submarines, and warships all rely on rare earth minerals. Just one F-35 fighter jet uses about 900 pounds of rare earth minerals. Consisting of a group 17 metals (and ranging from heavy to light), each rare earth mineral offers distinct properties and uses. Minerals such as neodymium is a key component in missile guidance systems, such as the Tomahawk cruise missile, helping it to be more precise and manoeuvrable. Yttrium is used to coat jet engines to ensure that they don't melt mid-flight due to high temperatures. Gadolinium is crucial for sonar and radiation detection systems and radiation shielding, especially in nuclear-powered submarines. Though there is an abundance of rare earth minerals with 110 million tonnes of deposits across the world, China dominates the market, producing more than 70% of the total supply. While the US is the second largest producer generating 14% of the total, 70% of U.S. rare earth minerals imports come from China. Worldwide China maintains a near monopoly-accounting for 61% of rare earth production and 92% of their processing. China's dominance is even greater in heavy rare earth minerals—which are more critical to the production of defence equipment . It processes nearly 100% of heavy rare earth minerals. At one point Vietnam also had some capacity to process these types of minerals, but its facility was shut down in 2024 and is no longer operable. China is also the world's sole producer of samarium, a light rare earth metal that is vital for military hardware including building fighter jets, missiles, electric warfare systems, and radar and sonar applications. Samarium magnets are essential for signal generation and play an important role in navigation, target tracking and threat detection. Samarium magnets are also valued because they can tolerate high temperatures without losing their magnetic force, which is critical to withstanding the heat created by fast moving motors. Currently the U.S. is lagging far behind in production capacity—and has only has two domestic rare earth mining centers located in the state of Georgia and in Mountain Pass, California. But the U.S. hadn't always trailed China in this area. From the 1960s until the 1990s, the U.S. was the global leader in rare earth production. This all changed in 1998 when Molycorp, then the only U.S. rare earth producer, shut down its chemical processing operations after a radioactive wastewater leak. At the same time, production had already shifted to China due to low labour costs and lax environmental standards. Since then concerns over rare earth dependency have circulated in Washington for years. By 2010 policymakers were raising the alarm that the U.S. was losing its rare earth production capacity to produce minerals that are critical to national security just as China was tightening export controls. Under the Biden administration, the Department of Defence earmarked more than $439 million to build a domestic 'mine to magnet' supply chain. Additionally, in 2022, the company MP Materials was awarded a $35 million contract from the Department of Defence to build a facility that could process heavy rare earth elements in Mountain Pass. Biden also tried to issue a large contract to construct two samarium production facilities, but this plan never materialized. As part of Trump's ongoing trade war with China, Beijing strategically applied export restrictions (requiring domestic producers to apply for export licences from the Chinese government) in April on seven medium and heavy earth metals including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, which are all important to the defence industry. Trump's announcement of a deal may mean that these export restrictions on rare earth minerals have been reversed. But knowing how important these minerals are to U.S. national security, there are no guarantees that China won't rescind this offer in the future and use its rare earth dominance to push for a deal that's even more favorable to its own terms.

World Of Forbes: Stories Of Entrepreneurial Capitalism Across Our 49 International Editions
World Of Forbes: Stories Of Entrepreneurial Capitalism Across Our 49 International Editions

Forbes

time32 minutes ago

  • Forbes

World Of Forbes: Stories Of Entrepreneurial Capitalism Across Our 49 International Editions

Across the planet, our 49 licensed editions span six continents, 81 countries and 31 languages. They all share the same mission: celebrating entrepreneurial capitalism in all its forms. 'As a parent, one tries to convey gratitude for being alive, for effort, for virtues, honoring it with work, building something beyond oneself, not being arrogant and assuming social responsibility with community service.' Eduardo Costantini China billionaires The collective fortunes of Chinese billionaires is up 26% over 2024, despite escalating trade tensions with the U.S. ByteDance cofounder Zhang Yiming (front left) saw a more than 50% jump in his net worth to $65.5 billion, with investors optimistic about the AI potential of the tech giant's TikTok app. DeepSeek founder Liang Wenfeng (front, second from right) joined the ranks after the red-hot AI firm based in Hangzhou released its ChatGPT competitor in January. Anish Shah When Anish Shah became CEO of Mahindra Group in 2021, it was the first time someone outside the billionaire Mahindra family took the wheel since 1945, when two brothers and a third cofounder started the company in steel trading. Today, the $19 billion (revenue) Mumbai empire employs 260,000 people in 100 countries with businesses ranging from automobile manufacturing to resorts to farm equipment. Shah's next big hurdle is to maintain dominance in India's SUV and tractor market while racing into the EV future. Dean Leitersdorf Forbes Israel calls Dean Leitersdorf, 27, one of the most promising figures on its 30 Under 30 list. The computer science Ph.D., who hails from the town of Mevaseret Zion, cofounded AI startup Decart in late 2023 with Moshe Shalev and has secured $53 million in funding at a reported valuation of at least $500 million. Based in San Francisco, Decart enables organizations to develop and train big data models efficiently. It released an AI-generated video game, Oasis, which Leitersdorf says reached 1 million registered users in just three days—faster than the growth pace of OpenAI's ChatGPT. Elon Musk took notice, writing on his X platform last October, 'Wow, this is happening fast.' Leonardo Del Vecchio 'It doesn't matter how traditional or innovative a sector is; the important thing is to develop it in the Italian way,' says Leonardo Maria Del Vecchio, the 30-year-old son of late eyeglasses billionaire Leonardo Del Vecchio (d. 2022). 'I love Italy and its variety, and it is this wealth that guides my every investment choice.' Through his three-year-old family office, LMDV Capital, he has holdings in bottled water, restaurants, film production and entertainment. He's also an executive at EssilorLuxottica, which owns brands such as LensCrafters, Oakley and Ray-Ban, all of which his father acquired as founder and longtime head of Luxottica. Rolf Sorg Rolf Sorg started PM-International in 1993 and has grown it every year since. Today his $3.3 billion (revenue) Schengen-based company sells supplement pills, nutrient-rich drink blends and skin care products in nearly 100 countries. 'I've learned that success lies outside the comfort zone,' says Sorg, who is still CEO, reflecting on managing through crises and challenges like Donald Trump's recent tariffs on goods imported to the U.S. 'A building is not just infrastructure, but also the value it brings to the people who use it every day.' Ema Iftimie Demetrio Carceller Arce Demetrio Carceller Arce runs Damm, a Barcelona-based brewery that dates to 1876 and that his oilman grandfather purchased in the 1950s and passed down to his father, former billionaire Demetrio Carceller Coll (d. 2023). During three decades at the helm, Carceller Arce has prioritized expanding internationally—Damm is now in over 130 countries—while adding product categories such as soft drinks and incorporating sustainable measures like solar power generation. 'When I arrived, Damm was like a sleeping racehorse, with extraordinary potential—a local, profitable company with a century-long history,' he says. It now brings in north of $2 billion in annual revenue. Tanit Chearavanont 'Being the next tycoon makes me see myself as a big fish,' says Tanit Chearavanont, the grandson of the country's richest person, Dhanin Chearavanont, in an interview with Forbes Thailand in which he discusses the importance of next-gen leaders gaining outside experience. 'But in this generation, I see the next tycoon as a 'fast fish' that eats both big and small fish.' In his case, he's working at Bangkok-based conglomerate Charoen Pokphand Group, run by his uncle Suphachai Chearavanont. He currently leads international expansion for the group's retail arm, CP Axtra, which generated about $15 billion in 2024 revenue selling groceries and other products in nine countries. Yiğit Güocak (right) and Ali Yılmaz Former university classmates Yiğit Gürocak (right) and Ali Yılmaz created Obilet in 2012 to digitize buying bus tickets. The pair have since expanded into an online booking site for flights, hotels, car rentals and ferries. The company is headquartered in Istanbul and now operates in 50 countries, 21 languages and 33 currencies. It had attracted nearly $20 million in investments before French carpooling marketplace BlaBlaCar acquired an 80% stake in late 2024.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store