TSMC (TSM)
Shares of TSMC jumped as much as 3% in Taipei ( 2330.TW ), extending its gains this year to more than 75% as chipmakers brace for TSMC’s price hike.
Shares also got a boost after Morgan Stanley joined the list of brokerages raising price targets on the chipmaker ahead of its earnings report.
“TSMC’s ‘starvation marketing’ strategy appears to be working,” Morgan Stanley analysts including Charlie Chan wrote in a note on Sunday, Bloomberg first reported.
“Our recent supply chain audits show that TSMC is sending a message that end-of-smelter supply may be tight in 2025 and customers may not receive sufficient capacity allocations without valuing TSMC.”
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SMC’s quarterly investor conference is scheduled for July 18, with market attention focused on AI chip demand, expected foundry price growth and capital spending.
The maker of the world’s most advanced chips is expected to report a 36% increase in revenue from a year ago.
Boeing (BA)
The planemaker’s shares were in the red before the US opening bell after the company agreed to plead guilty to a criminal fraud charge stemming from two deadly crashes of its 737 Max jets.
Federal prosecutors gave Boeing the choice to plead guilty and pay a fine as part of its sentence, or face trial on a felony charge of conspiracy to defraud the US.
Boeing will pay a fine of $243.6m (£190.1m) and invest at least $455m (£355m) over three years to strengthen its safety and compliance programs as part of the plea deal .
A total of 346 people died in incidents involving a Lion Air MAX 8 flight in Indonesia in 2018 and then, six months later, Ethiopian Airlines Flight 302 out of Addis Ababa.
Paramount (PRA)
One of Hollywood’s oldest companies, Paramount Global, has agreed to merge with independent film studio Skydance Media.
As part of the deal, Paramount Chairman Shari Redstone agreed to sell National Amusements Inc. of her family, which controls about 77% of the voting stock in Paramount, for $2.4 billion, according to a statement released by the company on Sunday.
Skydance will then merge with Paramount, offering $4.5 billion in cash or stock to shareholders and providing an additional $1.5 billion to Paramount’s balance sheet. The deal is expected to close in the first half of 2025.
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“Given the changes in the industry, we want to strengthen Paramount for the future by ensuring that content remains king,” said Redstone. “We hope the Skydance transaction enables Paramount’s continued success in this rapidly changing environment.”
It comes just weeks after Redstone blocked a deal with Skydance and marks the end of a complicated eight-month process in which Redstone held discussions with a number of potential suitors, including private equity group Apollo and Sony ( SONY ).
Shares in Ocado rose after the online supermarket revealed plans to build its third robotic warehouse in Japan as part of its tie-up with Aeon in the country.
The FTSE-listed group – which first struck a partnership deal with Japanese retailer Aeon in 2019 – said the new site in Kuki-Miyashiro will start operating in 2027.
It comes after Aeon’s first robotic warehouse opened in Japan’s Kanto region a year ago, powered by Ocado’s technology, with a second due to launch in Hachioji in 2026.
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The pair plans to open further robotic warehouses across the country as Aeon expands its online grocery delivery offering.
Tim Steiner, chief executive of Ocado Group, hailed the latest announcement as an “exciting moment for Aeon and Ocado’s relationship as we deepen our already strong partnership”.
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