Yahoo Finance’s Alexandra Canal rounded up Monday’s biggest movers.
AMD (AMD): The chipmaker’s shares rose about 2% early Monday after the company announced plans to acquire hyperscale solutions provider ZT Systems for $4.9 billion.
The deal comes as AMD seeks to expand its AI infrastructure to compete with market leader Nvidia (NVDA). AMD shares are up just over 2% since the beginning of the year, while Nvidia’s shares have soared about 150%. Nvidia is due to report its second-quarter earnings next week.
Palantir (PLTR): Data analytics company Palantir was thrust into the spotlight on Monday when co-founder and CEO Alex Karp appeared in an in-depth profile in the New York Times. In the interview, the normally low-profile Karp defended Palantir’s partnerships with the military, discussed his political views and discussed the origins of Palantir and his relationship with co-founder Peter Thiel.
Palantir has faced criticism recently over its work with the military and U.S. Immigration and Customs Enforcement (ICE), and the company notably does not do business with China, Russia, or other countries that are ostensibly opposed to Western ideas.
fuboTV (FUBO): Shares of sports streaming service fuboTV rose another 30% on Monday following a Friday ruling that temporarily blocked the launch of Venu Sports, an upcoming sports streaming service from Disney’s ESPN (DIS), Warner Bros. Discovery (WBD) and Fox (FOXA).
In her ruling, U.S. District Judge Margaret Garnett found that the joint venture would “substantially lessen competition and restrain trade.” She further wrote that the joint venture would ensure “the immediate loss of many of Fubo’s subscribers” and that “Fubo’s bankruptcy and delisting will likely follow soon, which are exemplary harms that money cannot adequately repair.”
Click here for more details.