Market News
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Evonik Rejects BASF's €10.3 Billion Takeover Approach as Too Low, Sources Say
Evonik has rejected BASF's roughly €10.3 billion (about $11.7 billion) takeover proposal as too low, according to sources cited by the Financial Times and Reuters, with the RAG-Stiftung foundation's 44% stake seen as pivotal to any next steps.
SpaceX Reaches Orbit With Starship for First Time, Deploys 26 Starlink V3 Satellites on Flight 14
SpaceX's Starship reached Earth orbit for the first time on Flight 14, deploying 26 Starlink V3 satellites while one vacuum engine went out and both stages were set to splash down without a catch attempt.
Meta Creates Enterprise Platform Unit, Hires MongoDB CEO CJ Desai; MongoDB Shares Sink 25%
Meta has created a Meta Enterprise Platform unit and hired MongoDB CEO CJ Desai to lead it, CNBC reported, sending MongoDB shares down 25% as the board names Dev Ittycheria interim CEO.
Northern Star Board Unanimously Rejects Gold Fields' A$38.7 Billion Takeover Proposal, Shares Jump
Northern Star's board unanimously rejected Gold Fields' A$38.7 billion cash-and-share takeover proposal as materially undervaluing the miner; CNBC reported shares closed 6.15% higher after jumping more than 9%.
Nvidia Board Approves $150 Billion Buyback Increase as Shares Rise in Premarket Trading
Nvidia's board authorized a $150 billion increase to its share-repurchase program and shares rose 1.2% in premarket trading, Seeking Alpha reported, extending a run of record capital returns.
U.S. and China Publish '30-for-30' Tariff-Cut Lists Covering $60 Billion in Trade; Soybeans Left Off China's List
The U.S. and China published '30-for-30' lists recommending tariff cuts on $60 billion of two-way trade, with soybeans left off China's agricultural list and no implementation date yet set.
Trump Rejects Iran's Hormuz Reopening Offer as Araghchi Warns of 'Doomsday' War but Leaves Door Open
Trump rejected Iran's offer to reopen the Strait of Hormuz within seven days, while Foreign Minister Araghchi says Tehran is ready for a 'doomsday' war but keeps diplomacy open, as crude fell sharply on the week, per NBC News and CNBC.
China Reportedly Weighs Letting ByteDance, Alibaba and DeepSeek Buy Limited H200 Chips
The Information reports Beijing is weighing limited Nvidia H200 purchases by firms including ByteDance, Alibaba and DeepSeek, with about 200,000 chips said to be under consideration.
Sixth Circuit Rules Ohio and Tennessee Can Regulate Kalshi's Sports Event Contracts, Deepening Circuit Split
The Sixth Circuit ruled unanimously that Ohio and Tennessee can apply state gambling laws to Kalshi's sports event contracts, deepening a circuit split with the Ninth and Third Circuits as a Supreme Court petition is pending.
Iran's Foreign Minister Offers to Reopen Strait of Hormuz in Seven Days if U.S. Honors June Deal
Iran's foreign minister told reporters at the U.N. that Tehran would reopen the Strait of Hormuz within seven days and resume nuclear talks if Washington meets June's collapsed memorandum terms, as oil prices fell and Houthi forces fired at Saudi targets, CNBC reported.
Stock Market Today: Industrials Leads While S&P 500 Advances
Industrials led the session while the S&P 500 advances. See the validated market scorecard, sector performance, and what traders are watching next.
New Mexico Jury Finds Facebook Liable for Deceiving Users on Privacy; Judge to Set Penalty as State Seeks $5,000 Per Violation
A Santa Fe jury found Facebook liable for deceiving users about privacy protections, Courthouse News reported. A judge will set the penalty; the state seeks the maximum $5,000 per violation.
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