US furniture stocks fell on Monday following President Donald Trump’s announcement of a new tariff investigation on imported furniture.
This investigation, set to be completed within 50 days, will determine tariffs on furniture imported into the United States from other countries at a yet-to-be-determined rate.
Roblox Corp (NYSE:RBLX) shares added almost 8% at about $126 on Monday morning after the gaming platform saw bullish commentary from several analysts, citing its strong user growth and monetization prospects.
On Friday, Wolfe Research analysts upped their rating on the stock to ‘Buy’ from ‘Hold’ and increased their price target to $150, while earlier this month Oppenheimer boosted its price target to $158 while maintaining its ‘Outperform’ rating.
Intel Corp (NASDAQ:INTC, ETR:INL) shares continued to gain momentum on Monday even after the company warned that the US government’s stake could pose risks to its business.
On Friday, the US government acquired a 9.9% stake in Intel by investing approximately $8.9 billion, marking one of the largest federal interventions in a US company since 2008, with an option to increase its stake by another 5% under specific conditions.
Ørsted (OTC:DNNGY) shares fell almost 17% to record lows after the US government ordered a halt to construction of the company’s nearly-completed Revolution Wind project off the coast of Rhode Island, casting fresh uncertainty over its US expansion plans.
The Danish energy company has been directed by the US Bureau of Ocean Energy Management to suspend activity on the $1.5 billion offshore wind farm, citing the need to “address concerns related to the protection of national security interests.”
Keurig Dr Pepper Inc (NASDAQ:KDP) announced it has agreed to acquire Dutch coffee and tea company JDE Peet’s in an all-cash deal valued at about $18 billion.
The pending takeover is expected to perk up Keurig’s sluggish coffee business. Sales at Keurig’s US coffee division slipped 0.2% in the second quarter to $900 million, which the company attributed to a fall in shipments of its single-serve coffee pods and Keurig coffee makers.