TSMC (TSM)
Shares of TSMC rose as much as 3% in Taipei (2330.TW), extending a rally this year to more than 75% as chipmakers prepare for TSMC’s price hikes.
Shares also rose after Morgan Stanley joined a group of brokers raising price targets for the chipmaker ahead of its earnings report.
“TSMC’s ‘hunger marketing’ strategy appears to be working,” Morgan Stanley analysts including Charlie Chan wrote in a note on Sunday, Bloomberg first reported.
“Our latest supply chain reviews indicate that TSMC is sending a message that supplies to leading foundries may be tight in 2025 and that customers may not be allocated sufficient capacity without recognizing TSMC’s value.”
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SMC’s quarterly investor conference is scheduled for July 18, when the market will focus on AI chip demand, expected foundry price increases and capital expenditures.
The maker of the world’s most advanced chips is expected to report revenue growth of 36% from a year earlier.
Boeing (BA)
Shares of the planemaker were in the red before the opening bell in the US after the company pleaded guilty to a criminal fraud charge stemming from two fatal crashes of its 737 Max planes.
Federal prosecutors gave Boeing the choice of pleading guilty and paying a fine as part of the punishment, or facing criminal charges of conspiracy to defraud the U.S.
Boeing will pay a fine of $243.6 million (£190.1 million) and invest at least $455 million (£355 million) over three years to strengthen its safety and compliance programs as part of the settlement.
A total of 346 people died in the incidents involving a Lion Air MAX 8 flight in Indonesia in 2018 and Ethiopian Airlines Flight 302 outside Addis Ababa six months later.
Paramount (PARA)
One of Hollywood’s oldest companies, Paramount Global, has agreed to merge with independent film studio Skydance Media.
As part of the deal, Paramount Chairman Shari Redstone agreed to sell her family’s National Amusements Inc. National Amusements Inc. owns about 77% of the voting stock in Paramount and is worth $2.4 billion, according to a statement the company released Sunday.
Skydance will then merge with Paramount, giving shareholders $4.5 billion in cash or stock and adding $1.5 billion to Paramount’s balance sheet. The deal is expected to close in the first half of 2025.
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“Given the changing nature of the industry, we want to strengthen Paramount for the future while ensuring that content remains king,” Redstone said. “Our hope is that the Skydance transaction will enable Paramount’s continued success in this rapidly changing environment.”
It comes just weeks after Redstone blocked a deal with Skydance and marks the end of a complicated eight-month process that saw Redstone hold talks with a series of potential buyers, including private equity group Apollo and Sony (SONY).
Shares in Ocado rose after the online supermarket revealed plans to build a third robotic warehouse in Japan as part of its partnership with Aeon in that country.
The FTSE-listed group, which first struck a partnership deal with Japanese retail company Aeon in 2019, said the new site in Kuki-Miyashiro will go live in 2027.
This follows the opening of Aeon’s first robotic warehouse in Japan’s Kanto region, which opened last year using Ocado’s technology. A second warehouse is scheduled to launch in Hachioji in 2026.
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The duo plans to open more robot warehouses across the country as Aeon expands its online grocery delivery service.
Tim Steiner, CEO of Ocado Group, called the latest announcement an “exciting moment for the relationship between Aeon and Ocado as we deepen our already strong partnership”.
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