Disney revenue topped analyst expectations when the media giant reported its fiscal second-quarter earnings on Wednesday.
The Nasdaq dipped Friday, led by semiconductor stocks like Micron and Intel. SK Hynix's Nasdaq debut is noted. Intel, a favorite stock, is down 10% this week but management's long-term vision for AI and manufacturing is supported. Wells Fargo, Goldman Sachs, and Johnson & Johnson report earnings next week.
Meta's stock saw a 15% weekly gain, its best since early 2024, driven by optimism around CEO Mark Zuckerberg's AI strategy. The company announced new AI models, Muse Image and Muse Spark 1.1, aiming to compete with rivals and diversify revenue streams beyond advertising.
SK Hynix debuted on the Nasdaq at $170, with its ADRs priced at $149, raising $26.5 billion for expansion. The South Korean company, a key supplier of AI memory chips, plans to invest in new factories, including a $4 billion plant in Indiana and a $390 billion chip cluster in Yongin, South Korea.
Circle, a stablecoin issuer, received approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a trust bank. This allows Circle to directly manage reserves for its USDC stablecoin and shifts its regulatory oversight to a national level, boosting its appeal as regulated infrastructure for institutional clients.
Circle, a stablecoin issuer, received approval from the OCC to operate as a trust bank, allowing it to manage reserves directly for its stablecoins like USDC. This move shifts Circle towards financial infrastructure and provides national regulatory oversight.
Volkswagen will cut its model lineup by up to half and reduce production capacity to nine million vehicles annually. The German automaker aims to become faster, more resilient, and competitive, avoiding immediate job cuts despite earlier reports of potential layoffs.
