Yahoo Finance’s Alexandra Canal rounds up the companies making the biggest moves on Monday.
AMD (AMD): The company’s stock rose about 2% early Monday after the company announced plans to acquire hyperscale solutions provider ZT Systems in a deal valued at $4.9 billion.
The partnership comes as AMD seeks to expand its AI infrastructure to compete with market leader Nvidia (NVDA). AMD stock has risen more than 2% since the beginning of the year, while Nvidia stock has soared about 150%. Nvidia is scheduled to report second-quarter earnings next week.
Palantir (PLTR): Data analytics company Palantir made headlines Monday after co-founder and CEO Alex Karp participated in an in-depth profile in The New York Times. Karp rarely stays out of the spotlight, but in interviews he defends his military partnership, discusses his political views, and shares the story behind Palantir’s creation and his relationship with co-founder Peter Thiel. explained the relationship between
Palantir has recently come under fire for its work with the military and U.S. Immigration and Customs Enforcement (ICE). Notably, the company does not do business with China, Russia, or any other country ostensibly opposed to Western ideology.
fuboTV (FUBO): Sports streamer fuboTV’s stock price goes down after Friday’s ruling temporarily blocks the launch of Disney ESPN (DIS), Warner Bros. Discovery (WBD), and Venu Sports, an upcoming sports streaming service owned by Disney. The stock rose another 30% on Monday. Fox (FOXA).
In her ruling, U.S. District Judge Margaret Garnett found that forming a joint venture would “substantially reduce competition and inhibit trade.” Moreover, it also ensures “a swift exodus of Fubo’s large numbers of subscribers” and that “Fubo’s bankruptcy and delisting of the company’s stock will likely soon follow. These are typical events that money cannot adequately repair.” It is a great harm.”
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