After years of market-beating returns, chip stocks have endured a difficult year so far, but top tech investor Paul Meeks believes there is still one stock that investors “must own.” The ProShares UltraShort Semiconductors ETF, an inverse ETF that bets against the sector, has returned nearly 30% this year, while the iShares Semiconductor ETF is … Read more
Sanjay Mehrota, CEO, Micron Scott Mlyn | CNBC Micron announced Tuesday it will invest $40 billion between now and 2030 to manufacture chips in the US The investment is supported by grants and credits from the CHIPS and Science Act, which President Joe Biden will sign on Tuesday. Micron said it will create up to … Read more
From left, Reps. Jan Schakowsky, D-Ill., Lizzie Fletcher, D-Texas, Speaker of the House Nancy Pelosi, D-Calif., Lisa Blunt Rochester, D-Del., and Eddie Bernice Johnson, D-Texas, are seen after a bill enrollment ceremony for the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act of 2022, on the West Front of the US Capitol on … Read more
A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. Sam Yeh | AFP | Getty Images If China were to invade Taiwan, then the most advanced chip factory in the world would be rendered inoperable, TSMC Chairman Mark Liu said in an English-language interview with CNN this week. In the undated … Read more
The market had a tough run during the first half of 2022 as stocks hit sell-off mode in the face of rising inflation and higher interest rates. But stocks have rallied in recent weeks from their June 16 lows, with all the major averages on Friday finishing out their best month since 2020. In July, … Read more
In this photo illustration, a silhouetted woman holds a smartphone with the Meta Platforms, Inc. logo displayed on the screen. Rafael Henrique | Lightrocket | Getty Images Check out the companies making headlines in midday trading. Bausch Health – Trading in the pharmaceutical company’s shares was halted after the stock dipped 50%. A Delaware federal … Read more
Here are the biggest calls on Wall Street on
Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit shares rose 3.9% in premarket trading after it agreed to be acquired by JetBlue (JBLU) for $33.50 per share in cash. That follows yesterday’s rejection by shareholders of Spirit’s previous deal to merge with Frontier Airlines parent Frontier … Read more
Check out the companies making headlines after the bell: Meta Platforms — Shares of the social media company dipped 3% in extended trading after missing second-quarter estimates on the top and bottom lines. Meta Platforms posted its second back-to-back decline in year-over-year sales and shared disappointing guidance amid a weakening ad environment. Ford Motor — … Read more
Qualcomm president and CEO Cristiano Amon speaks about Qualcomm’s technology for automakers at a news conference during CES 2022 in Las Vegas, Nevada, January 4, 2022. Steve Marcus | Reuters Qualcomm reported third-quarter earnings after the bell on Wednesday, slightly beating Wall Street expectations, but guidance for the current quarter was short of consensus expectations. … Read more