ASML Shares Surge as Chipmaker Reaffirms Ambitious 2030 Growth Targets

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ASML Shares Surge as Chipmaker Reaffirms Ambitious 2030 Growth Targets. 🌐 The company shares rose 5% after the company reaffirmed its 2030 revenue target of €44-60 billion, calming investor concerns following a recent profit warning. The chip equipment giant anticipates strong AI-driven demand, forecasting robust growth through advanced lithography innovations. MarketWatch reports.

⚡ SamsungSqueeze: Samsung Electronics shares hit 4-year lows on Trump risks, AI chips. Reuters reports.

🧠 AIZone: OpenAI to present plans for U.S. AI strategy and an alliance to compete with China. CNBC reports.

⚖️ MetaMonopoly: Meta will face antitrust trial over Instagram, WhatsApp acquisitions. Yahoo Finance reports.

🎧 SpotBoom: Spotify stock jumps on subscriber record. MarketWatch reports.

🎮 Gamechanger: Tencent posts better-than-expected 47% profit surge as games, AI tools shine. CNBC reports.

💪 PowerTower: Tower Semiconductor forecasts upbeat Q4 revenue; unveils $350 million investment plan. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $ELAB: Elevai Labs
Total gain: 70.04%

2. $BTCS: BTCS
Total gain: 39.8%

3. $PHGE: BiomX
Total gain: 29.85%

4. $OST: Ostin Technology Group
Total gain: 25.12%

5. $FTFT: Future FinTech Group
Total gain: 23.38%

The Race For The CHIPS Act

As Donald Trump gets set to return to the White House, several big chip companies are racing to finalize deals under the 2022 CHIPS Act, which was aimed at strengthening semiconductor manufacturing in the U.S. with $39 billion in grants. President-elect Trump was critical of the act during the campaign and Republicans are brainstorming reforms to it. As a consequence, the Biden Administration is rushing to complete subsidy contracts with giants like Intel and Samsung, Bloomberg reports.

There are still more than 20 companies still in the process of shoring up deals, including Taiwan Semiconductor Manufacturing Company and GlobalFoundries, which have reportedly wrapped up negotiations and are awaiting final announcements. The deals will have to be completed in the next two months before the Trump administration takes over.

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The closing price of the top three market percent gainers trading near or above $3 on November 13.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $PULM: Pulmatrix
Total gain: +73.66%
The company announced a merger agreement with Cullgen to accelerate the discovery and development of therapeutics for cancer and other diseases. Cullgen utilizes its proprietary uSMITE™ technology platform, which features novel E3 ligands, to create the next generation of targeted protein degraders and degrader-antibody conjugates. Benzinga reports.

2. $MFH: Mercurity Fintech Holding
Total gain: +61.24%
The stock appeared to be moving on no notable news.

3. $CLDI: Calidi Biotherapeutics
Total gain: +60.19%
The company announced its intention to offer shares of its common stock (and/or pre-funded warrants in lieu of common stock) in a public offering. All shares of common stock will be sold by the company. Ladenburg Thalmann & Co. Inc. is acting as the exclusive placement agent for the offering. The offering is subject to market conditions, and there is no assurance as to whether or when it will be completed, or as to the actual size or terms of the offering. Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

MUFG: Mitsubishi UFJ Financial Group
2Q 2024
Before Market Open
Estimate: 0.260
Actual: 0.400

AMAT: Applied Mat
4Q 2024
After Market Close
Estimate: 2.190
Actual: N/A

SIEGY: Siemens
4Q 2024
Before Market Open
Estimate: 1.190
Actual: 1.410

Time (ET) / Report / Period

7:00 am - Federal Reserve Gov. Adriana Kugler speaks
8:30 am - Initial jobless claims - November 9
8:30 am - Producer price index - October
8:30 am - PPI year over year
8:30 am - Core PPI - October

“The margin of safety is the central concept of investment.”

― Benjamin GrahamSourced in:
“The Intelligent Investor: The Definitive Book on Value Investing”, by Benjamin
Graham, published in 2006.