DJIA Futures Rebound Nearly 200 Pts, Bitcoin Surges 7%; Crypto Stocks Gain 6%-9% Pre-Market, Europe Shares Rise Broadly in Early Trading
AASTOCKS News·- Global financial markets showed mixed movements as US Treasury debt surpassed USD40 trillion and gold prices rose. - Bitcoin surged 7% to USD77,677 alongside gains in crypto stocks, while US stock index futures and major European markets advanced. - Samsung announced a historic shareholder return plan of up to USD79.52 billion, and Asian stock markets closed with mixed results.Jim Cramer Slams Data Center Reliance on Leveraged Retail-Driven SK Hynix, Samsung Stocks: 'Decided By Them, Not Us'
benzinga_article·- CNBC host Jim Cramer criticized the artificial intelligence data center supply chain's heavy reliance on South Korean chipmakers SK Hynix and Samsung, arguing their share prices are driven by leveraged retail investors. - Cramer's remarks followed SK Hynix's announcement of a 40 trillion won, or $29 billion, share buyback plan to restore market confidence amid recent volatility. - The analyst also pointed to Micron Technology as a domestic benchmark while memory sector peers turn to share repurchases to ease investor concerns over AI demand.Magnite Sees CTV Surge and Google Antitrust Remedies as Growth Catalysts
Market Beat·- Magnite reported that connected television advertising contribution increased 36 % year over year in the second quarter, representing 51 % of its business mix. - The company noted that potential antitrust remedies affecting Google could reshape open-web advertising and create a more level competitive environment. - Magnite generated about 80 % flow-through from incremental revenue to EBITDA in the quarter and committed to using at least 50 % of free cash flow for share repurchases.Magnite Targets CTV Growth With Walmart, Samsung Partnerships and AI Ad Tools
Market Beat·- Magnite is positioning itself as a primary supply-side platform infrastructure provider for connected-TV advertising by partnering with major global media and commerce companies. - The company is expanding its market reach through new strategic relationships with Walmart and Samsung, alongside innovations in data activation and AI-driven ad workflows. - Magnite is prioritizing revenue growth and infrastructure cost reductions, leading to a raised EBITDA-margin guidance of at least 37%.