Movement (MOVE) is facing one of the biggest setbacks in its short history after Movement Labs, the company behind the blockchain project, filed for Chapter 11 bankruptcy in the United States. The bankruptcy filing comes after months of declining network activity, governance issues, and a sharp drop in the token’s value. Despite raising more than
US stock futures edged lower on Wednesday as investors pulled back from semiconductor shares before Alphabet and Tesla open the first major test of the second-quarter Big Tech earnings season. Nasdaq 100 contracts led the retreat, while S&P 500 and Dow futures also slipped after Tuesday’s chip-led rebound. The market is asking whether billions of
DeXe (DEXE) has suffered one of the sharpest declines in the cryptocurrency market this year after its price plunged more than 80% on Wednesday. The dramatic sell-off erased almost all of the gains from the token’s recent rally and left traders scrambling to understand what triggered the collapse. While the broader crypto market remained relatively
Investors have largely shifted their attention away from the Magnificent 7 companies as enthusiasm has moved toward semiconductor stocks and the broader artificial intelligence trade. The Roundhill Magnificent 7 ETF (MAGS) has gained just 0.68% this year, significantly underperforming the S&P 500 and Nasdaq 100 indices. With earnings from the biggest names in technology approaching,
GE Vernova GEV shares fell about 4% in premarket trading on Wednesday after the energy equipment maker narrowly missed Wall Street’s profit expectations. The company also warned that global tariffs could increase its costs by as much as $200 million next year, overshadowing stronger revenue growth and another increase in its full-year outlook. The company
Advanced Micro Devices Inc. (AMD) and Anthropic have agreed to a deal covering tens of billions of dollars’ worth of artificial intelligence servers, according to a Wall Street Journal report, in a move that could strengthen AMD’s position against Nvidia while expanding Anthropic’s computing capacity. Under the reported agreement, Anthropic will purchase up to 2
US stocks opened lower on Wednesday as weakness in semiconductor stocks and higher oil prices weighed on investor sentiment ahead of a crucial day of corporate earnings led by Alphabet, Tesla and other major technology companies. The Dow Jones Industrial Average gained 78 points, or 0.15%. The S&P 500 declined 0.12%, while the Nasdaq Composite
IREN Ltd (IREN) shares are ripping higher this morning following a significant operational update that alleviate capital expenditure concerns and boosts the firm’s long-term financial outlook. The Australian vertically integrated data center and artificial intelligence (AI) cloud company says it has signed $2.8 billion in total contract value across new multi-year cloud services contracts. Despite
ServiceNow stock has dropped and underperformed the market this year as demand for software companies waned. NOW has dropped by 32% this year and 46% in the last 12 months, erasing billions of dollars in value. Investors are now focusing on its earnings for more cues on how it is adapting to the artificial intelligence
SpaceX (SPCX) shares continued their decline on Monday, falling about 1.25% to around $122. The stock remained well below its $135 initial public offering price. The latest decline follows a sharp selloff over recent trading sessions. Shares fell 5.4% on Friday, leaving the company with a market capitalization of about $1.60 trillion, down from approximately