) saw gains after Madrid-based newspaper Expansión reported on Wednesday it is close to selling Saeta Yields, a renewable energy company with assets in Spain and Portugal, to Masdar of the United Arab Emirates.Saeta owns 28 wind farms, 10 photovoltaic parks and seven solar thermal plants, according to its website.
The bidders include CEO Erik Nordstrom, President Peter Nordstrom and Mexican retailer El Puerto de Liverpool , who sent a non-binding letter proposing to form a new entity that would buy the chain, according to the filing. Nvidia opened almost 2 per cent lower after Tuesday’s 9.5-per-cent decline wiped out US$279-billion from its market value, the biggest ever single-day decline for a U.S. company.
Since peaking on June 18, Nvidia’s shares have lost roughly 20 per cent of their value. Its forward price-to-earnings ratio now sits just below 30, representing a decline in its valuation. The stock, however, is up more than 650% since the start of 2023. Intel’s contract manufacturing business was launched in 2021 as a key part of Chief Executive Pat Gelsinger’s turnaround strategy.
The bleak forecasts prompted at least 10 brokerages to cut their price targets on the stock, with Needham making the biggest revision by cutting it to US$235 from US$290. Shares of the company, which have lost nearly half of its value so far this year, were down over 20 per cent in early trading.
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