In The News
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Chinese ADRs
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| +4.98% |
| Trading sharply higher as a group following a strong overseas session, with the CSI 300 index netting its best day in more than four years and the Hang Seng index experiencing its best performance in seven months. Beijing unveiled its most significant stimulus measures since the pandemic, including a 50-basis-point cut to banks’ reserve requirement ratio and a reduction in the seven-day reverse repurchase rate. |
| BABA, JD, PDD, NIO, LI, XPEV, BILI, BIDU, KWEB |
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Meta Platforms Inc (META)
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| -0.07% |
| On watch after Reuters reported that the company is set to announce deals with celebrities like Judi Dench, Kristen Bell, and John Cena to provide voices for its Meta AI chatbot. This feature will reportedly offer users a choice of five celebrity voices or generic option and could be unveiled at Meta’s annual Connect conference, starting on Wednesday, September 25. According to the report, the chatbot is set to launch in the U.S. and other English-speaking markets. |
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Taiwan Semiconductor and Micron Technology
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| +1.88% |
| Trading higher as a pair amid after the U.S. Commerce Department presented Polar Semiconductor the first finalized award resulting from the CHIPS and Sciences Act, through which both companies are slated to receive funding. Taiwan Semiconductor is set to receive $6.6 billion in funding so that it can build out production in America, while Micron is on track to receive $6.1 billion. Micron is also on watch ahead of its earnings report, scheduled after the bell on Wednesday, September 25. |
| TSM, MU |
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Starbucks Corp (SBUX)
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| -1.26% |
| Trading lower premarket after Jefferies lowered its rating on the stock from Hold to Underperform and cut its price target from $80 to $76. The analyst attributed the downgrade to concerns about the company’s ability to address operational, cultural, and technological challenges despite potential strategic changes under the new CEO. Jefferies expects Starbucks’ fiscal 2025 earnings growth to be revised to low single digits, below the 11%-12% consensus, with ongoing negative same-store sales potentially driving a 20% downside in the stock. |
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Snowflake Inc (SNOW)
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| -3.10% |
| Trading lower premarket after announcing plans to raise $2 billion through private offerings of convertible bonds maturing in 2027 and 2029. The company intends to use the proceeds for capped calls, stock repurchases, and general purposes such as acquisitions or strategic investments. |
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Snap Inc (SNAP)
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| +1.08% |
| Trading higher premarket after announcing an expansion to its partnership with Google Cloud to enhance Snapchat’s My AI chatbot. The partnership involves integrating Gemini on Vertex AI, enabling multimodal generative AI experiences. With this technology, Snapchat users can interact with My AI across text, audio, images, and video, allowing features like translating street signs or analyzing video content for healthier snack options. |
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Copper and Ore Miners
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| +5.27% |
| Trading sharply higher as a group in tandem with the price of copper, which is approaching its highest level in 10 weeks. The price spike followed China’s announcement of wide-ranging stimulus measures aimed at boosting its slowing economy, driving demand for the metal. |
| FCX, RIO, BHP, VALE, SCCO, HBM |
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Hawaiian Electric Industries Inc (HE)
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| -12.84% |
| Gapping down after announcing plans to sell up to $500 million in common stock to help cover its share of the Maui wildfire settlement. The company had approximately 110.3 million common shares outstanding as of August 30, per its regulatory filing. |
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Maison Solutions Inc (MSS)
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| +101.52% |
| Gapping up after announcing its sales results for fiscal Q1 2025. Sales were reported at $29.6 million for the quarter, more than doubling the Q1 2024 print of $13.8 million. The company also guided revenue between $120 million and $125 million for the fiscal year. |
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