Yahoo Finance’s Alexandra Canal rounds up the biggest movers in the stock market on Monday, highlighting three companies that are making waves in the industry.
First up is AMD (Advanced Micro Devices), a chipmaker whose shares rose about 2% early Monday following the announcement of its plans to acquire hyperscale solutions provider ZT Systems in a deal valued at $4.9 billion. This move is part of AMD’s strategy to expand its AI infrastructure and compete with market leader Nvidia. While AMD’s shares have seen a modest increase since the start of the year, Nvidia’s shares have soared by about 150%. Investors will be eagerly awaiting Nvidia’s second quarter earnings report next week to see how the company is faring in the market.
Next on the list is Palantir, a data analytics company that was in the spotlight on Monday due to an in-depth profile of its co-founder and CEO, Alex Karp, in The New York Times. The profile delved into Karp’s defense of the company’s military partnerships, his political views, and the origin story of Palantir, as well as his relationship with co-founder Peter Thiel. Palantir has faced criticism for its work with the military and US Immigration and Customs Enforcement, but Karp emphasized that the company does not do business with countries that are openly against Western ideologies.
Lastly, fuboTV, a sports streaming service, saw its shares rally by another 30% on Monday following a ruling that temporarily blocked the launch of Venu Sports, a joint venture between Disney’s ESPN, Warner Bros. Discovery, and Fox. US District Judge Margaret Garnett determined that the launch of Venu Sports would substantially lessen competition and restrain trade, potentially leading to a significant loss of subscribers for fuboTV and even bankruptcy. This ruling has had a significant impact on fuboTV’s stock price and future prospects in the market.
Overall, these three companies are at the forefront of the stock market news on Monday, each facing unique challenges and opportunities that will shape their future performance. Investors and analysts will be closely monitoring their developments to see how they navigate the ever-changing landscape of the stock market. For more information on these top stocks and other market movers, readers can find the full article on Yahoo Finance.
