Daily Newsroom
Follow market-moving stories, policy signals, and company developments curated by the editorial desk.
Lead story
France's competition authority has directed Meta Platforms to restart negotiations with French media groups concerning unpaid fees for the use of their content. The regulator found that Meta likely abused its dominant market position and has given the company 15 days to propose a payment plan.
Wolfspeed has filed a patent infringement lawsuit against Navitas Semiconductor, alleging multiple product lines violate its patents. The legal action prompted a significant decline in Navitas's stock price.
Citing increased volatility in Asia, HSBC has closed its overweight position in emerging market equities and upgraded Eurozone stocks to overweight for the second half of the year.
Bath & Body Works stock fell after Goldman Sachs downgraded the retailer to "Sell" from "Neutral," citing declining consumer sentiment and risks associated with its new third-party distribution strategy.
Shares of FuelCell Energy fell significantly after the company announced and priced a $225 million public stock offering at a steep discount to its previous closing price, raising concerns about shareholder dilution.
Kodiak Gas Services announced a multi-year agreement with Baker Hughes to deploy up to 1.8 GW of gas turbine power generation, primarily for U.S. data centers, causing its stock to rise. The deal aims to address growing electricity demand and grid constraints.
German insurer Allianz SE plans to reduce its workforce by 1,500 to 1,800 positions at its Allianz Partners subsidiary in Europe. The company attributed the job cuts to the implementation of artificial intelligence solutions.
Shares of the energy giant climbed after the company signaled a substantial increase in second-quarter profits, a forecast bolstered by a surge in crude oil prices following new hostilities in the Strait of Hormuz.
Wells Fargo has begun coverage of AT&T, Verizon, and T-Mobile with a cautious outlook, identifying SpaceX's Starlink satellite service as a growing competitive risk to the industry.
