Atlassian's stock has been hit hard in the "SaaS-pocalypse" sweeping software names as AI threatens to disrupt their business models.
Rivian Automotive's stock fell over 10% in premarket trading Tuesday following the announcement of a public offering of 75 million shares. The company aims to raise approximately $1.51 billion to fund equity contributions for a loan agreement with the U.S. Department of Energy.
The UK's Gambling Commission will introduce financial risk assessments for online gamblers spending over £1,000 in 24 hours or £3,000 in 90 days. These checks, not termed 'affordability checks', will use credit reference data to identify those at risk of financial harm.
Billionaire John Arnold is funding $2.6 million in research to study the risks of online sports betting, which has boomed since 2018. The grants will examine impacts on financial well-being, mental health, and consumer behavior, aiming to inform regulators about the evolving market.
Samsung Electronics' shares dropped nearly 7% despite record Q2 earnings and profit, as concerns over AI infrastructure spending, labor union demands, and a new fabrication plant location overshadowed the results. Analysts noted that the stock had already priced in the strong performance, leading to a sell-off upon confirmation.
Samsung Electronics' shares dropped 9.6% despite record Q2 earnings of 89.4 trillion won. Concerns over AI spending sustainability, labor union demands, government profit sharing, and an unusual new semiconductor plant location overshadowed the strong financial results, with analysts citing profit-taking and rotation appetite towards SK Hynix's ADR listing.
Samsung Electronics forecasts a 19-fold increase in profits for the April-June quarter, driven by soaring global demand for AI memory chips. Sales are expected to exceed 171tn won, marking a record quarterly performance.
