Meta Platforms saw its stock rise nearly 6%, marking a weekly gain of over 14%, driven by a report indicating plans to produce an AI chip, which could lower compute costs. SK Hynix's shares surged approximately 17% after its debut on the Nasdaq, with its American depositary receipts priced at $149, raising $26.5 billion for expansion efforts.
Conversely, chipmakers Marvell Technology and Intel fell about 3%, likely due to investor sentiment shifting towards SK Hynix. Seagate Technology's stock increased by nearly 2% following an upgrade from Wells Fargo, which raised its price target to $1,100, citing a favorable entry point for investors.
WD-40 Company rallied 10% after exceeding earnings expectations and raising its full-year guidance. Delta Air Lines dipped over 2% despite beating earnings estimates, as CEO Ed Bastin expressed confidence in maintaining pricing power amid fluctuating oil prices.
Circle Internet Group's stock rose 6% after receiving regulatory approval for a crypto-focused bank, a significant step for integrating blockchain into finance. Vodafone Group's shares jumped 13% following a major investment from French billionaire Xavier Niel, making him the largest stakeholder.
Netflix's stock fell 3% amid reports of discussions to add live television channels, as subscriber engagement appears to be declining. Shopify gained nearly 2% after an upgrade from Stifel Financial, which sees continued growth in e-commerce.
Lamar Advertising Company fell nearly 3% after Citigroup downgraded its recommendation, citing unfavorable risk-reward dynamics despite projected earnings growth