SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
S&P 500 Closes at New High as Fed Rate Cut Spurs Market Gains
The S&P 500 index reached record highs on Thursday, continuing its post-election rally after the Federal Reserve announced a widely anticipated rate cut. The S&P 500 rose 0.8% to close at 5,973.10, while the NASDAQ Composite added 1.5% to also set a new high. The Dow Jones Industrial Average remained relatively flat.
Federal Reserve Cuts Rates to Meet Market Expectations
As expected, the Fed cut its interest rate by 25 basis points, adjusting the benchmark to a range of 4.5% to 4.75%. This reduction follows a 50-point cut in September and reflects moderated economic outlooks. Analysts are predicting two further cuts, bringing rates to between 4% and 4.25% by early 2025, per RBC projections.
Earnings Highlights: Warner Bros, Lyft, and Moderna
- Warner Bros Discovery shares surged 12% after reporting a surprise quarterly profit, despite lower revenue due to fewer blockbuster releases.
- Lyft saw a 24% jump following upbeat guidance and a promising new self-driving partnership. Truist Securities noted Lyft’s strategic focus on enhancing rider experience and product innovation.
- Moderna dropped 2%, despite a stronger-than-expected quarter due to COVID-19 vaccine sales. The company warned of potentially lower 2024 sales.
Qualcomm and ARM Holdings Boost Tech Sector
Qualcomm announced a $15 billion stock buyback following solid Q4 results, though its stock later dipped. ARM Holdings (NASDAQ) exceeded forecasts, rising 4% and reinforcing positive momentum in the tech sector.
