Today's Morning Movers and Top Ratings: TSM, TSLA, MMM, SPOT and More
Morning Movers
Gapping up
$Taiwan Semiconductor(TSM.US$ 's shares grew by 2.53% as the company reported a substantial 32% surge in second-quarter revenue compared to the previous year.
$Microsoft(MSFT.US$ stock witnessed a 0.4% uplift after the tech giant indicated a willingness to forfeit its observation seat on the board of OpenAI, amidst increasing regulatory examination of generative artificial intelligence in the U.S. and Europe.
$Tesla(TSLA.US$ 's shares saw a 0.35% rise following an upgrade in estimates and a higher price target set by Goldman Sachs, acknowledging the company's impressive second-quarter deliveries.
$Goodyear Tire & Rubber(GT.US$ enjoyed a 1.9% increase in its stock value due to reports that Yokohama Rubber is considering the acquisition of its off-road tire segment for at least $1 billion.
$SMART Global(SGH.US$ ' shares soared 7.45% post the announcement of a profitable third quarter, thanks to a reduction in operating expenses that helped balance a notable revenue decline.
Gapping down
$3M(MMM.US$ 's stock declined by 0.89% with the news of CFO Monish Patolawala's impending departure at the end of the month to seize another opportunity.
$Honeywell(HON.US$ 's shares also dropped by 0.2% after the Wall Street Journal disclosed the company's intent to acquire the liquefied natural-gas technology and equipment division from Air Products for $1.8 billion. $Air Products & Chemicals(APD.US$ ' shares rose by 3.26%.
$Spotify Technology(SPOT.US$ 's stock dropped over 1% following an analyst downgrade to neutral amid concerns that the company's revenue projections are overly optimistic.
Source: CNBC; Investing.com
US Top Rating Updates on 07/10
Source: Dow Jones
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