CoreWeave (NASDAQ:CRWV) was downgraded to Neutral by Bank of America on Monday, as the bank cited stretched valuation and significant future funding needs despite strong growth and recent contract wins.
“Following Q1 results, the stock has run up 145%. We believe much of the near-term upside has been priced in,” analysts wrote in a note to clients.
Shares of Circle Internet Financial (NYSE: CRCL) surged 18.6% on Monday, extending a sharp rally that has seen the stock jump more than fivefold from its initial public offering two weeks ago.
Circle made its trading debut on the New York Stock Exchange on June 5 after pricing its IPO above range. The company had initially aimed to sell 24 million shares at $24 to $26 apiece but expanded the offering to 34 million shares due to overwhelming demand. The deal was oversubscribed by 25 times.
Roku Inc (NASDAQ:ROKU) shares jumped almost 10% after the TV streaming platform announced a new partnership with Amazon Ads, which will create the largest authenticated connected TV (CTV) footprint in the US.
The integration makes Amazon’s demand-side platform (DSP) Roku’s primary platform for addressable CTV ad buying.
Giyani Metals Corp (TSX-V:EMM, OTC:CATPF) said on Monday it has received a non-binding letter of interest from the Export-Import Bank of the United States (EXIM) for up to $225 million in financing to support the construction of its K.Hill battery-grade manganese project in Botswana.
The potential funding, in the form of long-term debt with a repayment period of up to 15 years, would fall under EXIM’s Supply Chain Resilience Initiative (SCRI), a program launched earlier this year aimed at reducing US reliance on critical mineral supply chains dominated by China.
Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF) shares rocketed 91% on Monday after it updated on its Bitcoin treasury venture, Forza.
The Forza vehicle has acquired 6.5577 Bitcoin at an average price of £77,770.36 per coin, totalling £510,000.
Intel Corp (NASDAQ:INTC, ETR:INL) is preparing to implement substantial job cuts at its manufacturing sites beginning in mid-July, marking the company’s first major workforce reduction since CEO Lip-Bu Tan took the helm in March.
The layoffs, expected to conclude by the end of the month, are part of a broader restructuring effort aimed at streamlining operations and sharpening Intel’s competitive edge in the global semiconductor industry.
Power Metallic Mines Inc (TSX-V:PNPN, OTCQB:PNPNF) announced that it has secured the exploration license for the Jabal Baudan project in Saudi Arabia, continuing its international expansion.
The company highlighted that with this award it becomes one of the few foreign mining companies to receive a concession in the Kingdom, following a successful bid in a competitive licensing process.
Sarepta Therapeutics Inc (NASDAQ:SRPT) shares plunged almost 45% after the company disclosed the death of a second patient from acute liver failure linked with its experimental gene therapy Elevidys for Duchenne muscular dystrophy (DMD).
In response, the company is convening an independent expert panel to evaluate and develop an enhanced immunosuppressive regimen, including sirolimus, to reduce the risk of acute liver failure in non-ambulatory DMD patients treated with Elevidys, with any new protocol subject to Food and Drug Administration (FDA) review and approval.
Shares in Falcon Oil & Gas Ltd (AIM:FOG, TSX-V:FO) jumped as much as 23% on Monday after the company announced record-breaking gas well results from its Beetaloo Sub-basin project in Australia.
The SS-2H ST1 well achieved a 30-day initial production rate of 7.2 million cubic feet per day, the highest ever recorded in the Beetaloo.
Shares in Physiomics (LSE:PYC) rose 11% in early trading on Monday after the company announced its first biometrics contracts and a senior hire to lead the new division.
Jesse Thissen, previously of AstraZeneca, will join as Head of Biometrics on 1 July. His appointment marks the formal launch of a new service line aimed at broadening Physiomics’ biostatistical offering to clients in the pharmaceutical industry.
A takeover tilt at Santos Ltd (ASX:STO) by an Abu Dhabi-led group has jolted the oil sector awake, fuelling talk that energy dealmaking is back, and just getting started.
Shares in the Aussie energy group ended the session 11% higher it p confirmed it had received the $18.7 billion takeover approach.