Big bank stocks are under pressure as analysts highlight potential risks linked to economic uncertainties and interest rate cuts. Meanwhile, CoreWeave is making a bold move by acquiring Core Scientific to better control its assets for the booming AI market, aimed at cutting costs and boosting revenue. Solar stocks are also in the spotlight, showing varying movements amid these market shifts. Investors may want to pay attention to how these dynamics are shaping the landscape.
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Bank of America Stake Change
Kuwait Investment Authority sold its 3.1 billion stake in Bank of America, reflecting a shift despite long-term holding since 2008.
HSBC's caution and recent downgrades highlight uneven optimism in U.S. financial stocks after a strong rally.
insights INSIGHT
CoreWeave Acquisition and Caution
CoreWeave shares dropped over 5% amid near-term analyst caution.
The acquisition of Core Scientific aims to reduce costs and solidify its AI data-center capacity.
insights INSIGHT
Solar Stocks Hit by Policy Shift
Solar stocks fell sharply after President Trump called for stricter rules on renewable energy tax incentives.
Uncertainty around incentive eligibility is adding volatility to the solar sector.
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On the episode of Stock Movers: - Big bank stocks, including shares of Bank of America (BAC) slid after some analysts warned of downside risks. HSBC is turning cautious on three of the biggest US bank stocks following a record rally that’s brought the group within shouting distance of an all-time high. “Downside risks associated with still-elevated macro uncertainty, potentially slowing economic growth and more interest rate cuts through 2025 and 2026 are generally not factored into the stock prices,” analyst Saul Martinez wrote in a note downgrading JPMorgan Chase & Co., Goldman Sachs Group Inc. and Bank of America Corp. At the same time, “the repricing of fixed-rate assets, benign credit quality, improving investment banking activity, and a favorable regulatory backdrop are well priced in.” - CoreWeave (CRW) shares fell with the most recent news being that it's dropping $9 billion on the data-center operator Core Scientific Inc. in an effort to gain more direct control over the physical assets powering the artificial-intelligence boom. In buying Core Scientific in an all-stock deal, CoreWeave will inherit more than a gigawatt of data-center capacity across the US — much of which is already contracted out to serve its clients in training, deploying and using AI models. CoreWeave said Monday that controlling more of its supply chain will eliminate lease expenses, reduce costs including those associated with financing projects and “future-proof” its revenue growth. - Solar stocks, including Sunrun (RUN) fell after President Donald Trump called for new rules that would limit access to tax incentives for renewable energy projects that had already been pared back by a $3.4 trillion budget bill. Sunrun, the biggest US residential solar company, slid as much as 13%. Solar equipment provider Nextracker dropped as much 5.6%. First Solar, a domestic solar manufacturer, fell as much as 5.3%. On Monday evening, Trump issued an executive order directing the US Treasury Department to more strictly define when a project has started construction, including restricting the use of efforts to lock in tax credits unless a substantial portion has been built.
Stock Movers