TSMC (TSM)
TSMC shares (2330.TW) rose as much as 3 percent in Taipei, extending their gains this year to more than 75 percent as chipmakers prepare for TSMC’s price hikes.
The stock also got a boost after Morgan Stanley joined the list of brokers raising their price target on the chipmaker ahead of its earnings release.
“TSMC’s ‘starvation marketing’ strategy appears to be working,” Morgan Stanley analysts including Charlie Chan wrote in a note Sunday, first reported by Bloomberg.
“TSMC is sending the message that advanced foundry supplies may be tight in 2025, and customers may not receive adequate capacity allocations unless they see the value in TSMC, according to our latest supply chain research.”
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SMC’s quarterly investor conference is scheduled for July 18, with market attention focused on demand for AI chips, expected price hikes at foundries, and capital spending.
The company, which makes the world’s most advanced chips, is expected to report a 36% increase in revenue compared to last year.
Boeing (BA)
Shares in the plane maker fell in pre-market trading U.S. time after the company agreed to plead guilty to fraud charges stemming from two fatal crashes of its 737 Max jetliner.
Federal prosecutors gave Boeing the option of pleading guilty and paying a fine as part of its sentence or standing trial on a felony charge of conspiring to defraud the United States.
As part of the plea deal, Boeing will pay a $243.6 million (£190.1 million) fine and invest at least $455 million (£355 million) over three years to strengthen its safety and compliance programs.
A total of 346 people were killed in the 2018 Lion Air MAX 8 crash in Indonesia and the Ethiopian Airlines Flight 302 crash outside Addis Ababa six months later.
Paramount (PARA)
Paramount Global, one of Hollywood’s oldest companies, has agreed to merge with independent film studio Skydance Media.
As part of the deal, Paramount Chairman Shari Redstone has agreed to sell her family’s National Amusements Corp., which owns about 77 percent of Paramount’s voting stock, for $2.4 billion, according to a statement released by the company on Sunday.
Skydance would then merge with Paramount, offering shareholders $4.5 billion in cash and stock and adding an additional $1.5 billion to Paramount’s balance sheet. The deal is expected to close in the first half of 2025.
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“Given the shifts in the industry, we want to strengthen Paramount’s future while ensuring that content remains at the forefront,” Redstone said. “We hope that our transaction with Skydance will position Paramount for continued success in this rapidly changing environment.”
The move comes just weeks after Redstone blocked a deal with Skydance and marks the end of a complicated eight-month process in which he held talks with a range of potential suitors, including private equity group Apollo and Sony.
Shares in Ocado soared after the online supermarket revealed plans to build its third robotic warehouse in Japan as part of a partnership with the country’s retail chain Aeon.
The FTSE-listed group first signed a partnership deal with Japanese retailer Aeon in 2019 and announced that the new facility in Kuki Miyashirocho was due to be operational in 2027.
Aeon opened its first robotic warehouse using Ocado’s technology in Japan’s Kanto region a year ago, and plans to open a second robotic warehouse in Hachioji in 2026.
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As Aeon expands its online grocery delivery service, the two companies plan to open more robot warehouses across the country.
Ocado Group CEO Tim Steiner hailed the announcement as “an exciting moment for the relationship between AEON and Ocado, deepening an already strong partnership.”
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