SoftBank Group Corp (SFT.HA)
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Activist investor Elliott rebuilds SoftBank stake: Rpts.
Shares of SoftBank Group (9984.T, SFTBY) are jumping after the Financial Times reported activist investor Elliott Management has rebuilt a stake worth more than $2 billion in the Japanese tech conglomerate. The firm is reportedly pushing for a share buyback and has already engaged with the company's leadership. Elliott last took a substantial stake in the company back in 2020. Yahoo Finance's Akiko Fujita reports on why Elliott is engaging with SoftBank again. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Stephanie Mikulich.
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New tariffs on Chinese EVs, Apple-OpenAI talks, Roaring Kitty's return: Morning Brief
On today's edition of The Morning Brief, Yahoo Finance's Seana Smith and Myles Udland cover everything from US-China economic relations to the latest moves in the artificial intelligence game. The market (^DJI, ^IXIC, ^GSPC) opened higher on Monday after all three major indexes closed last week in the green. Stocks are preparing for the Consumer Price Index's (CPI) inflation data expected on Wednesday as core CPI is projected to increase 3.6% year over year. In the latest move to develop domestic supply chains, President Biden is expected to announce new tariffs on Chinese electric vehicles this week, raising the rate to 102.5% from 27.5%, according to reports. SoftBank (SFTBY) posted a full-year profit in its Vision Fund for the first time since 2021, boosted by its investment in Arm (ARM) as the AI race heats up. SoftBank now has a 90% stake in Arm, accounting for almost half its entire portfolio. Apple (AAPL) is reportedly negotiating a deal with OpenAI to include ChatGPT on iPhones. ChatGPT is among the leading AI services, and as iPhone sales slumped last quarter, the partnership with OpenAI could be Apple's latest move to innovate the iPhone and increase sales. Lastly, GameStop (GME) shares are soaring following the return of "Roaring Kitty" to the social media platform X. Roaring Kitty played a critical role in GameStop's short squeeze back in 2021. This post was written by Melanie Riehl
- Yahoo Finance UK
Trending tickers: Alibaba, Bitcoin, SoftBank and Diploma
The latest investor updates on stocks that are trending on Monday.
