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Marvell Soars on Amazon AI Chip Expansion, S&P 500 Entry
Marvell Technology jumped 7.27% on reports Amazon Web Services may sell its Trainium AI chips to third parties, boosting Marvell's networking prospects. KeyBanc raised its price target to $385, and Marvell joins the S&P 500 on June 22.
Save Mart Shuts Two Lucky California Stores Amid Margin Pressures
Save Mart will close Lucky California stores in Danville and San Francisco due to underperformance, continuing a trend of grocers trimming weak locations.
Transocean Shares Slide 5.9% as Oil Price Drop Overshadows $185M Contract Backlog
Transocean shares tumbled 5.9% to $5.25 as oil prices fell on a US-Iran deal to reopen the Strait of Hormuz, overshadowing $185 million in new contract backlog.
Defense Stocks Slide as U.S.-Iran Deal Eases Geopolitical Risk
Lockheed Martin shares dropped 4.1% as defense stocks underperformed a rising market amid a U.S.-Iran interim deal that reduced geopolitical risk, with sector peers also declining.
Qnity Electronics Surges 7% in Broad Semiconductor Rally
Qnity Electronics climbed 7.2% in heavy trading as semiconductor suppliers rallied broadly ahead of the Juneteenth market closure.
Tech Rally Lifts Wall Street; Chip Stocks Surge on Apple-Intel Deal
U.S. stocks rose Thursday, powered by a semiconductor rally after Trump announced an Apple-Intel chip partnership. The Nasdaq climbed 1.48% as oil prices dropped, easing inflation concerns. Markets are closed Friday for Juneteenth.
CervoMed Shares Surge on Patent News, Then Retreat After $10M Stock Offering
CervoMed shares surged to $7.75 after a U.S. patent allowance for neflamapimod in pure DLB, but gave back most gains after announcing a $10 million stock offering at $4 per share. The stock last traded at $4.14, up 8.7%.
Amazon Shares Rise on AI Chip Sales Talks, AWS Spending in Spotlight
Amazon shares rose 2.4% on news of AI chip sales talks with external data centers, potentially opening a new revenue stream beyond AWS.
Butterfly Network Surges on Midjourney Scanner Deal and Chip Licensing Pact
Butterfly Network shares jumped over 50% after Midjourney announced a full-body scanner using Butterfly's ultrasound chips, spotlighting a five-year licensing deal worth up to $74 million.
Tech Stock Windfall Creates Tax and Diversification Challenges
SpaceX shares fell over 6% Thursday but are still 30% above $135 IPO price, as tech employees face tax and diversification challenges with concentrated stock wealth.