📈ARM Stock Rally and More Market Movers

On Thursday, stocks experienced significant gains despite higher-than-expected U.S. PPI and retail sales for August, particularly driven by tech shares and a successful trading debut from a chip design company. Arm Holdings, supervised by SoftBank, witnessed a 25% increase in its stock after its IPO, with an initial price set at $51 per share. At its inception, the company's valuation was approximately $60 billion. The company, trading as "ARM," offloaded nearly 95.5 million shares, with SoftBank retaining a 90% stake. In other market movements, Visa faced a 2% dip after proposing a shift in its share structure. Semtech experienced a 7% surge after surpassing Q2 earnings expectations, while Penn Entertainment saw a 6% hike in its shares.  Conversely, Netflix shares declined by around 2% due to concerns from its CFO regarding the Hollywood writers' strike and other factors. Yum China shares jumped by nearly 6% after revealing financial goals and expansion plans. AMC Entertainment added 3% to its stock value after completing a recent equity offering, selling 40 million shares at an average of $8.14 each. Etsy observed a nearly 3% increase after an upgrade from Wolfe Research, while HP declined by close to 3% following Berkshire Hathaway's sale of approximately 5.5 million of its shares. Lastly, both Exxon Mobil and Chevron enjoyed gains as U.S. oil prices crossed the $90 mark for the first time since November 2022.