• Earnings season reveals a significant divide in the tech sector, with winners and losers emerging.
• IBM's CEO noted a shift in client spending towards hardware, leading to a 25% drop in IBM's stock. • Companies like SK Hynix and Dell saw stock increases in recent weeks due to rising demand for memory and servers. • PayPal received a $53 billion takeover offer from Stripe and Advent International, boosting its stock price. • Major U.S. banks report strong growth and increased deal pipelines, driven by client confidence in mergers. • June inflation numbers were lower than expected, reducing the likelihood of a Federal Reserve rate hike. • New York imposed a one-year moratorium on new data centers due to community opposition and resource concerns.The copyright of this article belongs to the original author/organization.
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