Market movers: Stocks seeing action on Thursday

, the latest in a series of Canadian tech companies to consider going private following a stock market slump after pandemic restrictions were lifted.

National Bank announced an all-stock deal to buy Canadian Western earlier this year in a proposal that valued the Edmonton-based bank at about $5 billion. The U.S. regulatory probes relate to allegations that Chinese drug traffickers used the bank to launder at least $650-million from 2016 through 2021, and an employee took a bribe to facilitate laundering of drug money.

The company, whose high-bandwidth memory chips are used in Nvidia’s popular artificial intelligence processors, was set to add more than US$17.5-billion to its market value. Strong pricing for HBM chips is expected to help Micron’s gross margins, which were earlier pressured by an expensive ramp-up of its HBM manufacturing capacity.

The materials sector came under focus as gold prices edged higher on mounting expectations of another U.S. rate cut this year. Copper prices rose on more stimulus hopes from China.) surged after it unveiled a slew of measures including partnerships with international carriers, vacation packages, and sale-and-leaseback transactions of aircraft to turn around its business and boost profit margins.

Its passenger volumes are running below pre-pandemic levels and shares have lost about 40 per cent of their value in the past three years. It has downgraded its outlook at least eight times in the past 20 months despite booming travel demand and analysts expect profit in 2024 to plunge about 83 per cent from a year ago.

Generative AI bookings have shown robust quarter-on-quarter acceleration for the past four quarters, reaching a total of US$3-billion for the year. While analysts expect a turnaround in IT services, the expectations for next year remain modest. Analysts at JP Morgan earlier said they were not as bullish for the sector as they were this time last year, adding that clients will continue to withhold discretionary spending on projects.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market movers: Stocks seeing action on ThursdayA survey of North American equities heading in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

Market movers: Stocks seeing action on ThursdayA survey of North American equities heading in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

Market movers: Stocks seeing action on ThursdayA survey of North American equities heading in both directions
Source: globebusiness - 🏆 31. / 66 Read more »

Market movers: Stocks seeing action on ThursdayA survey of North American markets heading in both directions
Source: globebusiness - 🏆 31. / 66 Read more »

Nasdaq, stocks open lower after Thursday's rate cut rallyUS stocks (^DJI, ^IXIC, ^GSPC) are in negative territory at Friday's market open, just one morning after the market rallied on the Federal Reserve's interest...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian stocks mixed after Wall Street extends losses as technology and energy stocks fallHONG KONG (AP) — Asian markets were mixed Thursday following a global sell-off a day earlier, as Wall Street declined in the technology, energy and other...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »