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SoFi Rebounds on Market Rally, but Valuation and Index Exclusion Curb Enthusiasm
SoFi gained 5.04% to $16.67 on Thursday, extending pre-market gains Friday amid a broader market rally. However, the stock remains under pressure from valuation concerns, a 'Hold' consensus, and exclusion from the S&P 500.
SpaceX IPO Buzz Propels Virgin Galactic Shares Higher
Virgin Galactic shares jumped 21.66% to $5.73 on Thursday, driven by anticipation for SpaceX's IPO and a debt-reduction move that added dilution.
Coupang Shares Jump 14% as $410M Privacy Fine Resolves Regulatory Cloud
Coupang shares jumped 14.09% to $17.25 after South Korea levied a record $410 million privacy fine, clarifying a regulatory overhang. The charge will hit Q2 operating expenses.
Nokia Shares Surge on AI Network Platform Launch
Nokia shares surged over 6% in Helsinki and 5% in New York after introducing an agentic AI framework for its Network Services Platform, highlighting AI and cloud growth.
Nvidia Targets China Market with Vera CPU Launch Amid AI Rally
Nvidia shares gained 2.22% to $204.87 after Reuters reported it is offering its new Vera CPUs to Chinese customers, with availability as early as August. The broader semiconductor index surged 7.91%.
Sam's Club Santa Clarita Fuel Station to Close for Three Months
Sam's Club's Santa Clarita fuel station will close from June 15 to Sept. 18 for upgrades, adding new pumps. The main warehouse stays open, but members need alternative gas options.
Adobe Stock Slides as CFO Exit Overshadows Record Q2 Results and AI Growth
Adobe shares tumbled over 10% after CFO Dan Durn's exit announcement overshadowed record Q2 earnings, with revenue of $6.62B and EPS of $5.96 beating estimates.
SpaceX's Record-Breaking $75B IPO Debuts at $135 Per Share
SpaceX completed the largest IPO in history, raising $75 billion by selling 555.6 million shares at $135 each. Trading begins Friday on Nasdaq.
US States and Congress Tighten Crypto ATM Rules Amid $388M Scam Losses
Delaware advances a bill to ban crypto kiosks within 90 days, while North Carolina opts for regulation. New federal legislation targets scams, with FBI data showing over $388 million in losses.
Intel Soars 9% on BofA Upgrade and AI Demand Surge
Intel shares surged 9.27% after Bank of America upgraded the stock to Buy, citing strong AI and foundry prospects. A reported Google order for 3 million chips added to the rally.