Stocks retreat as tech loses steam

Live4 updates

• 

  Tue, January 9, 2024 at 7:00 PM GMT+2

  HPE in talks to amass Juniper Networks: Report

  Hewlett Packard Enterprise (HPE) is shifting to amass Juniper Networks (JNPR) in a deal that might be valued at $13 billion, in line with a report by the Wall Street Journal printed Tuesday.

  The proposed acquisition might bolster HPE’s AI product rollout. In recent months Wall Street has cheered on Big Tech’s AI developments, rewarding software program firms and AI suppliers like Nvidia (NVDA) with sturdy beneficial properties, outpacing the broader market on the promise of a large business and client shift towards AI-powered instruments and companies.

  Juniper, based mostly in Sunnyvale California, is finest recognized for promoting communications {hardware}, together with routers and switches. But the corporate additionally runs a rising AI business, referred to as Mist AI, the the corporate says permits its clients to run their networks extra effectively. Juniper’s CEO Rami Rahim not too long ago informed Yahoo Finance Live that the corporate’s AI section achieved 100% development over its final two quarters, yr over yr.

  Shares Juniper rose greater than 20% Tuesday morning whereas HPE sank 7%.

  A deal might be introduced as quickly as this week, in line with the report.

• 

  Tue, January 9, 2024 at 6:02 PM GMT+2

  Oil rebounds on indicators Russia is adhering to promised export cuts

  Crude futures rebounded on Tuesday on indicators that Russia is adhering to its promised export cuts and protests in Libya proceed limiting the nation’s manufacturing.

  West Texas Intermediate (CL=F) rose greater than 1.5% through the session earlier than paring again a few of these beneficial properties. Brent (BZ=F) futures additionally elevated greater than 1%, a reversal from steep losses through the prior session.

  The latest crude export information tracked by Bloomberg reveals Russia began 2024 in step with cuts promised by the OPEC+ member.

  Meanwhile protests in Libya are retaining roughly 300,000 barrels per day without work the market following the shutdown of a significant oil subject final week.
• 

  Tue, January 9, 2024 at 5:20 PM GMT+2

  Stocks trending in morning buying and selling

  Here are a number of the shares main Yahoo Finance’s trending tickers web page throughout buying and selling on Tuesday:

  Juniper Networks (JNPR): Shares of the networking provider rose greater than 20% Tuesday morning following a report within the Wall Street Journal that exposed Hewlett Packard Enterprise (HPE) is eyeing the corporate for acquisition in a deal that might be valued at $13 billion. HPE shares fell greater than 8%.

  JetBlue (JBLU): The airline sank greater than 6% following an announcement that Robin Hayes will step down as CEO after about 9 years of main the corporate. His departure carries significance as a result of the corporate is ready to listen to whether or not a federal choose will block its proposed merge with Spirit Airlines, a deal he backed.

  Unity Software (U): Shares of the online game developer fell almost 7% after the corporate introduced plans to put off about 1,800 staff, or 25% of its workforce.

  Nvidia (NVDA): Shares of the AI software program and {hardware} provider continued their run on Tuesday morning as shares rose 0.3% following a report that the AI provider plans to begin mass manufacturing of an AI chip it designed for the Chinese market that complies with US export rules. Reuters experiences that the sale of the chip, together with two others, is designed protect the corporate’s market share in China amid tightening export restrictions out of Washington.
• 

  Tue, January 9, 2024 at 4:33 PM GMT+2

  Stocks open decrease as tech rally loses steam

  The market opened within the purple to begin the Tuesday session on Wall Street as tech shares gave up floor.

  The Dow Jones Industrial Average (^DJI) slipped 0.5% or about 200 factors. The benchmark S&P 500 (^GSPC) shed practically 0.6% whereas the tech-heavy Nasdaq Composite (^IXIC) retreated about 0.7%.