Apple, MP Materials
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Taiwan Semiconductor Manufacturing reports a record profit in the second quarter, PepsiCo’s adjusted earnings top forecasts, and GE Aerospace raises guidance for 2025.
TSMC shares rose 4% in premarket trade as the contract chip manufacturer lifted its 2025 sales guidance. Sarepta Therapeutics stock jumped 34% as the company set plans to lay off more than a third of its workforce following two patient deaths.
MP Materials +6.2%, Ramaco Resources +10.7%, and USA Rare Earth +7.8% pre-market, a day after Apple reached a $500M deal to buy rare earth metals from MP.
Stocks opened cautiously higher Tuesday as market participants took in the latest inflation data and the unofficial start of second-quarter earnings season. But enthusiasm waned as the session wore on,
MP Materials Corp.’s stock skyrocketed in early trading Thursday, after the rare-earth producer said it inked a public-private partnership with the U.S. Defense Department to boost domestic magnet production and to reduce dependence on foreign sources.
MP Materials rips to all-time high after $500M deal that ensures Apple supply. XPeng revises hiring plan for 2025 with focus on AI-report. Stellantis to end hydrogen fuel cell program.
Nvidia stock jumps after the chip maker says it soon expects to again begin selling its H20 AI chip in China, while earnings from JPMorgan Chase, Wells Fargo, and Citigroup beat analysts’ estimates.