Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:
- Chipotle Mexican Grill (CMG) shares jumped after the Financial Times reported that Starbucks Corp. has worked with advisers on a takeover proposal for the burrito chain. A Starbucks spokesperson said the company doesn’t “comment on rumors and speculation” and the team is focused on its “Back to Starbucks” turnaround plan. Analysts expressed skepticism about a potential deal given the vast differences between the two businesses, but noted that access to Chipotle’s supply chain could provide some justification for the potential overture.
- GlobalFoundries (GFS) shares gained as much as 7% after the chip manufacturer announced a five-year, $2 billion deal to provide US production capacity to Taiwan Semiconductor Manufacturing Co. GlobalFoundries will help supply components known as silicon interposers under the agreement, and will rely on manufacturing at its facility in Malta, New York. The company expects to begin ramping up volume production of the TSMC components in the first half of 2028.
- Nvidia (NVDA) slid along with other tech companies with AI ties on a reporting from the Financial Times that OpenAI told investors that its annualized revenue might come in significantly lower than initially thought.
See omnystudio.com/listener for privacy information.