Stocks extend win streak near record highs
U.S. stocks rose with the S&P 500 up 1 percent for an eighth straight gain as investors cheered Nvidia and AMD near a cloud and AI deal. Nvidia led gains while Guess? CFO change tempered some gains. Dow rose 236.77 points and Nasdaq jumped 245.05 amid Powell speech expectations and easing inflation fears.
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AT&T workers strike after failed contract talks
More than 17,000 AT&T workers across nine Southeastern states walk off. The Communications Workers of America says management refused to bargain in good faith and sent undertrained managers to technical work. AT&T disputes the charges, citing ongoing bargaining and three earlier agreements covering over 13,000 employees. The walkout covers Alabama Florida Georgia Kentucky Louisiana Mississippi North Carolina South Carolina and Tennessee.
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Icahn Enterprises settles with SEC over personal loan pledges
The SEC announced that Icahn Enterprises and Carl Icahn will pay 1.5 million and 500000 dollars in civil penalties to resolve charges of failing to disclose pledges of the company's securities used as collateral for personal loans. The case covers pledges dating back to 2005 with amendments filed late in 2022 and 2023, amid ongoing scrutiny of Icahn's disclosures and asset valuations. Icahn defends the findings and vows to continue operations while Hindenburg Research remains referenced. Shares of Icahn Enterprises declined after the settlement news.
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Seven & I Faces Takeover Bid From Couche-Tard
Canada's Couche-Tard offered to buy Seven & I Holdings owner of 7-Eleven and other chains. Seven & I formed an outside director committee to review the bid. no decision yet. Shares jumped 23 percent in Tokyo, the largest one day gain in company history. If merged, the groups would control about 20 percent of the market.
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