Tech Sells Off on Mixed Retail Earnings; Capital One Buying Discover in $35B Deal
-
Tech stocks led equities lower Tuesday amid mixed quarterly results from Walmart (sales beat, acquiring Vizio) and Home Depot (earnings beat, but sales outlook missed forecasts).
-
Capital One announced Monday it will acquire Discover Financial in a $35B all-stock deal.
-
Semiconductor stocks fell sharply, led by Nvidia down over 4% ahead of its earnings report Wednesday.
-
Barclays unveiled a major corporate restructuring plan, cost cuts, and plans to buy back at least $12.6B in shares.
-
GlobalFoundries shares rose on news it will receive $1.5B in CHIPS Act funding to expand chip fabrication plants in NY and VT.