Tech stocks stumble, Target shake-up, Intel stake talks
from Morning Brief Hosted by Yahoo Finance
US markets were steady after Tuesday’s tech sell-off that saw Palantir (PLTR) drop 10%, Nvidia (NVDA) and AMD (AMD) tumble, and Broadcom (AVGO) slip. Investors brace for Nvidia earnings next week, with questions over China exposure. Target (TGT) names COO Michael Fiddelke as new CEO, replacing Brian Cornell, sending stock down more than 10% as Wall Street had hoped for an outsider. Lowe’s (LOW) rises after reporting earnings and announcing an acquisition of Foundation Building Materials. Meanwhile, reports suggest the US government may take non-voting equity stakes in chipmakers including Intel (INTC), TSMC (TSM), Samsung (005930.KS), and Micron (MU) through the CHIPS Act. TJX (TJX) surges on strong guidance, Estee Lauder (EL) slides on tariffs and weak outlook, and Dayforce (DAY) confirms buyout talks with Thoma Bravo. Takeaways: Tech pullback pressures Palantir, Nvidia, AMD, and Broadcom Target stock sinks as insider Fiddelke named CEO, Lowe’s gains on deal and results The US may take equity stakes in Intel, TSMC, Samsung, and Micron under the CHIPS Act TJX rallies, Estee Lauder slumps, Dayforce in $11.2B buyout talks Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves. Thoughts? Questions? Fan mail? Please email us at [email protected].
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