Market Overview
- European markets experienced a slight downturn, with the DAX falling by 0.4%, the FTSE by 0.2%, and the CAC by 0.7%.
- In Asia, the markets showed mixed results: the Nikkei dropped by 0.1%, whereas the Hang Seng and Shanghai indices both advanced by 0.7%.
Commodities
- Crude Oil decreased by $5.20, settling at $68.63.
- Natural Gas dipped by $0.14, trading at $3.70.
- Gold rose by $9.30, reaching $3,395.10.
- Silver increased by $0.16, to $36.18.
- Copper edged up by $0.02, concluding at $4.85.
Stock News
● Wolfspeed (WOLF, Financial) announced plans to file for U.S. bankruptcy as part of a restructuring agreement with creditors. The move aims to reduce the company's debt by approximately $4.6 billion and cut annual cash interest payments by 60%. The restructuring includes $275 million in new financing and is expected to help Wolfspeed emerge from bankruptcy by the end of Q3 2025.
● Tesla (TSLA, Financial) shares jumped 10% following the limited launch of its robotaxi service in Austin, Texas. The service received positive reviews for its smooth operation, despite not yet being fully autonomous. Tesla aims to expand the service to new cities, competing with Waymo's established presence in the market.
● SpartanNash (SPTN, Financial) has been acquired by C&S Wholesale Grocers in a $1.8 billion deal. The acquisition price of $26.90 per share represents a 52.5% premium over SpartanNash's recent closing price. The transaction is expected to close in late 2025, pending regulatory and shareholder approvals.
● Boeing (BA, Financial) experienced volatility as investigations into a recent Air India 787 crash focused on engine issues. The crash, involving GE Aerospace engines, resulted in significant casualties. The investigation is ongoing, with black boxes recovered for further analysis.
● Prosus (PROSY, Financial) reported a FY Non-GAAP EPS of $2.58, missing estimates by $0.52, and revenue of $6.17 billion, missing by $180 million. Despite the misses, the company saw significant growth in ecommerce revenue and announced a 100% increase in its dividend.
● Li Auto (LI, Financial) shares rose nearly 5% after the company filed for its new 5-seat electric SUV, the Li i6, set for a September launch. The vehicle will compete with luxury models like the Mercedes-Benz GLC and BMW X3, featuring dual motors and 536 hp.
● Shift4 (FOUR, Financial) announced the acquisition of Smartpay, an Australian payments firm, for NZ$296.4 million. The deal enhances Shift4's distribution capabilities in Australia and New Zealand, positioning it for growth in the region's payment processing market.
● STERIS (STE, Financial) secured a $450 million contract modification with the U.S. Navy, extending its existing contract to provide patient monitoring and capital equipment through 2030. The contract supports various military and federal agencies.
● Estée Lauder (EL, Financial) gained after Deutsche Bank upgraded the stock to a Buy rating, citing improved fundamentals and a Street-high price target of $95. The firm noted that Estée Lauder has addressed past challenges and is better positioned for future growth.
● Arista Networks (ANET, Financial) rose 6% as Evercore ISI projected sustained 20%-plus revenue growth, driven by partnerships with Meta Platforms and cloud providers. Evercore reiterated its Outperform rating, raising the price target to $110.
● Ares Management (ARES, Financial) acquired a 20% stake in Plenitude for €2 billion, valuing the energy transition company at over €12 billion. The deal supports Plenitude's renewable energy and retail solutions across 15 countries.
● American Healthcare REIT (AHTR, Financial) reinstated its $0.25 quarterly dividend, payable on July 18. The company continues to focus on growth and improving its financial performance.
● Unilever (UL, Financial) acquired Dr. Squatch, a personal care brand, to expand its portfolio in the premium men's grooming segment. The acquisition aims to scale Dr. Squatch's international presence and enhance Unilever's offerings.
● CorMedix (CRMD, Financial) shares soared after the company raised its Q2 sales guidance to $35M-$40M, citing new customer implementations and expanded product use. The company expects continued growth in the latter half of 2025.
● Vision Marine Technologies (VMAR, Financial) acquired Nautical Ventures, a Florida-based boat dealership, to strengthen its position in the global electric boat market. The acquisition supports Vision Marine's growth strategy in the $2.5 billion market.
● HIVE Digital Technologies (HIVE, Financial) acquired a 7.2MW data center in Toronto to expand its high-performance computing infrastructure. The facility will support AI training and cloud services for Canadian enterprises.
● Vertex Pharmaceuticals (VRTX, Financial) and Ono Pharmaceutical (OPHLY, Financial) formed an exclusive alliance for the development of povetacicept in Japan and South Korea. The collaboration focuses on treating B cell-mediated diseases, with Vertex receiving milestone payments and royalties.
● Stellantis (STLA, Financial) announced a leadership shake-up as Antonio Filosa assumed the role of CEO. The new team includes changes in key positions to drive the company's strategic initiatives.
● Hormel Foods (HRL, Financial) promoted John Ghingo to president and appointed Jeffrey Ettinger as interim CEO. The leadership changes are part of Hormel's strategy to navigate its growth and operational challenges.
● Galapagos (GLPGF, Financial) appointed Aaron Cox as CFO, succeeding Thad Huston. Cox's experience includes a pivotal role in Horizon Therapeutics' acquisition by Amgen, positioning him to support Galapagos' strategic goals.
GuruFocus Stock Analysis
- Tesla's $4.20 Robotaxi Just Shook Wall Street -- $100 Billion Added Overnight by Khac Phu Nguyen
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- Super Micro (SMCI) Stock Tumbles After Announcing Major Debt Raise by Nauman khan
- Nvidia Secures Entire Wistron Plant Through 2026 to Build AI Servers by Faizan Farooque
- Microsoft to Cut Thousands of Jobs as AI Spending Surges by Faizan Farooque
