SoftBank, Intel
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SoftBank Group Corp. shares fell for a second day, following a sharp selloff in US technology shares and as concerns over its investment in Intel Corp. continued to weigh on the company.
Intel stock falls as the company seeks more investors after SoftBank deal and Trump administration considers equity stake.
Major U.S. equities indexes were mixed Tuesday as tech sector losses weighed on their performance. The S&P 500 ended the session 0.6% lower, while the tech-heavy Nasdaq dropped 1.5%. The Dow held onto a fractional gain.
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SoftBank Group pares earlier gains to rise over 10%, hitting record high on strong earnings
Shares of SoftBank Group ended Friday 10.39% higher at 13,865, paring gains from its record of 14,390 earlier in the session following the company's higher-than-expected fiscal first-quarter profit. SoftBank shares have extended gains to a fourth straight session, and closed at a record high on Thursday, before the company released its earnings.
Hon Hai Precision Industry Co. will operate a US factory owned by SoftBank Group Corp., setting up what’s in the running to be the first manufacturing site in the Japanese company’s $500 billion Stargate venture with OpenAI and Oracle Corp.