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Rigetti Computing Shares Tumble 14.5% as Tech Selloff Deepens on Rate Jitters
Rigetti Computing shares plunged 14.5% to $20.68 as a broad tech selloff, triggered by strong May payrolls and rate fears, swept through quantum stocks.
POET Technologies Shares Plunge 23% Amid Semiconductor Rout and Execution Concerns
POET Technologies shares tumbled 23% to $11.86 on Friday as the semiconductor sector sold off sharply. Investors are assessing execution risks following a $400 million capital raise, a $50 million Lumilens order, and Marvell's canceled purchase orders.
Intel Plunges as Chip Rout Erases $1.3 Trillion in Market Value
Intel shares tumbled 11.4% on Friday as a broad chip sell-off erased $1.3 trillion in market value, the worst day for the sector since March 2020. A disappointing outlook from Broadcom and renewed Fed rate hike fears overshadowed Intel's AI partnership with Foxconn.
Natural Gas Futures Slide as Cooling Demand Forecasts Diminish
U.S. natural gas futures fell 3.2% Friday as weather models cut cooling demand, erasing a two-day rally. Inventories remain above average but the surplus is narrowing.
Paramount-Warner Merger Faces State Lawsuit Threat, WBD Shares Drop
Warner Bros. Discovery shares fell 3.6% on reports that states plan to sue to block the Paramount Skydance deal, widening the discount to the $31 cash offer.
Micron Plunges 13% as $1.3 Trillion Chip Wipeout Hits AI Stocks
Micron Technology (MU) dropped 13% Friday, contributing to a $1.3 trillion semiconductor selloff, as investors penalized the chipmaker for delivering 'good but not better' AI news despite record revenue and Nvidia's HBM4 qualification.
Amazon Stock Falls 3% on Rate Jitters, AI Rally Pauses
Amazon shares tumbled 3.1% on Friday amid a broad tech sell-off triggered by a stronger-than-expected jobs report, which revived fears of prolonged high interest rates.