DailyEdge

The company and the U.S. government will likely finalize $8.5 billion in direct funding for the chipmaker before the end of the year, the Financial Times reported on Friday, citing people familiar with the discussions. 💻

Global chip stocks rallied on Thursday after U.S. memory semiconductor maker Micron posted revenue guidance that topped expectations and boosted its share. Shares of Micron jumped as much as 16% in premarket trade in the U.S. Dutch semiconductor equipment maker ASML rose more than 4% in early trade in Europe. 📈

Nvidia stock closed 4% higher on a report that CEO Jensen Huang is done selling shares. Huang raked in $713 million in total proceeds from the sales. He remains Nvidia's biggest shareholder. 📈

Shares of China companies rose sharply Tuesday after its central bank lowered interest rates and the government added stimulus designed to bolster the stock market. 📈

The company has proposed a $5 billion investment in Intel, supporting its turnaround under CEO Pat Gelsinger. This comes as Intel restructures and forms key partnerships, including a recent deal with Amazon Web Services. 🏢

The company shares fell 8% after the carmaker cut its full-year guidance for the second time, citing a slowdown in sales driven by China's weakening economy. With one-third of its sales in China, the luxury automaker expects lower returns and reduced earnings, impacted by weaker consumption and competition in the Chinese market. 🚗

Apple is expected to be warned by the European Union under the Digital Markets Act to open its iPhone operating system to rival technologies or face potential fines. The EU aims to ensure that other developers can access key features like Siri and the iPhone’s payments chip, with non-compliance risking fines of up to 10% of Apple’s global annual turnover. ⚖️

The company‘s €1.49 billion antitrust fine imposed by the European Commission in 2019 for its online ad business was overturned. The EU’s General Court annulled the penalty, stating that regulators failed to prove Google’s contracts harmed competition or strengthened its dominant position in search advertising. ⚖️

The company unveiled a $60 billion stock buyback plan and a 10% quarterly dividend hike, raising its payout to 83 cents per share. While the dividend yield remains low compared to other Dow components, the buyback is among the largest announced this year, following Apple and Alphabet. 💻

Apollo Global Management has agreed to a $1 billion deal with BP to fund its 20% stake in the Trans Adriatic Pipeline. This move supports BP’s divestment target for 2024, with the deal set to close in Q4. ⚡