Stellantis stock dropped as much as 8.9% on Monday, marking its lowest point in over two years, following the sudden resignation of CEO Carlos Tavares on Sunday. The unexpected leadership change has heightened investor concerns about the carmaker’s ability to navigate challenges, including U.S. overcapacity, sluggish global car demand, and rising competition from Chinese automakers.
Australia’s new Social Media Minimum Age Bill bans children under 16 from using platforms like Instagram, Facebook, TikTok, and Snapchat. Meta, ByteDance (TikTok), and Snap could face hefty fines of up to $32 million (AUD 49.5 million) for violations. The law, passed Thursday, also exempts YouTube from the age restriction, marking a significant step in regulating social media access for minors. Benzinga reports.
CrowdStrike Holdings delivered stronger-than-expected Q3 results, posting adjusted earnings of $0.93 per share on $1.01 billion in revenue, surpassing analysts’ estimates of $0.81 per share and $983 million in revenue. The cybersecurity firm overcame anticipated headwinds from a global tech outage linked to its software earlier this year, reaffirming its resilience and market leadership in cybersecurity solutions.
Qualcomm's interest in acquiring Intel has cooled, halting what could have been a landmark tech deal reshaping the semiconductor landscape. The decision contributed to regulatory challenges, Intel's $50B debt, and its manufacturing unit’s struggles. The move shifts focus back to Intel's reinvention efforts and Qualcomm's ambitions to tap into emerging markets like PCs, networking, and automotive chips.
The U.S. government plans to trim Intel’s $8.5 billion federal chips grant, citing a $3 billion Pentagon contract. The funding supports semiconductor production as part of the CHIPS Act initiative, but adjustments reflect evolving priorities in domestic chip manufacturing.
Super Micro Computer (SMCI) sees a roller-coaster week with a 60% rally but ongoing delisting risks due to delayed earnings filings. Amid new auditor hires and Nvidia partnership mentions, volatility remains the name of the game.
Nvidia's shares dip over 3% as supply constraints and a design flaw in its Blackwell chips hinder production, despite booming AI demand. CEO Jensen Huang emphasizes efforts to ramp up output, with analysts closely watching how supply bottlenecks impact revenue projections.
Unions at Volkswagen threaten strikes and demand shared sacrifices as the automaker pushes for deep cuts, including plant closures and pay reductions. Talks intensify amid German industrial challenges and rising global competition.
Nvidia, a leader in AI chips, faces slowing growth and supply chain challenges ahead of its Q3 results. Investors are focused on its new Blackwell processors, which are expected to generate billions amid tight production capacity.
The major US stock indices had a mixed performance last week, with the S&P 500 falling 0.1%, the Nasdaq 100 sliding 0.2%, and the DOW remaining mostly flat amid fluctuating economic signals.