Intel Corp (NASDAQ:INTC, ETR:INL) and Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) (TSMC) have reportedly reached a preliminary agreement to form a joint venture (JV) that may mark a turning point in Intel’s ambitious foundry strategy, analysts at UBS believe.
Per media reports, TSMC would acquire its 20% stake through the contribution of technology and personnel, versus capital investment.
Abercrombie & Fitch (NYSE:ANF) shares moved higher on Friday, with investors backing the retailer amid broader concerns about consumer spending and the tariff impacts.
The company recently announced a $1.3 billion share repurchase program and is trading at a relatively low valuation compared to historical levels and its peers, making it attractive to investors.
Wall Street’s biggest tech names took a bruising after hours on Thursday, as investors reacted to sweeping new tariffs announced by President Trump.
The “Magnificent Seven” collectively shed more than $1 trillion in market value, with Apple Inc (NASDAQ:AAPL, ETR:APC) suffering its worst day since early 2020.