- Shares of retail traders' favorite AMC Entertainment Holdings soared on Monday after a U.S. court blocked the theater chain's stock conversion plan that risked diluting investors' holdings.
- A Delaware court judge said on Friday declined to approve the proposed settlement by AMC in a case that has alleged the company planned to convert preferred stock to common to circumvent the will of common stock holders who had opposed the issuing of new shares.
Read More at reuters.com
- Foxconn agreed last year with Indian metals-to-oil conglomerate Vedanta to set up a semiconductor and display production plant in India as part of a $19.5 billion joint venture.
- But the joint venture failed, highlighting the difficulty for new players to enter a market dominated by established firms with huge experience and a highly intricate supply chain.
Read More at cnbc.com
- Shares of Taiwan's TSMC slumped more than 3% on Friday after the world's largest contract chipmaker flagged a 10% drop in 2023 sales and said production due to start next year at its first plant in Arizona would be delayed.
- On Thursday, TSMC reported a 23.3% fall in second-quarter net profit - its first on-year drop in quarterly profit since the second quarter of 2019.
Read More at reuters.com
- Netflix stock sank more than 8% Thursday after a quarterly earnings report that was largely positive but left Wall Street underwhelmed.
- Netflix’s average revenue per membership showed weakness in the most recent quarter.
- “I think people expected a lot more revenue growth in the third quarter,” said analyst Michael Nathanson of MoffettNathanson.
Read More at cnbc.com
- Amazon is bringing its pay-by-palm system to all of its Whole Foods stores by the end of the year.
- Amazon One lets users enter and pay for items in stores by swiping their hand over a kiosk.
- The company is increasingly marketing the technology to third parties.
Read More at cnbc.com
