24H | Modine Soars 27%; Cerebras Systems Surges 18%; SpaceX Gains 2%; Nvidia Rises 1%; Chip Stocks Rally

US Overnight
6 hours ago

Dow Futures rose 0.12%, S&P 500 Futures rose 0.21%, Nasdaq Futures rose 0.24%, reflecting a broadly risk-on tone.

Modine Manufacturing shares soared 27.24%. Samsung Electronics is in talks to acquire Modine, a U.S. maker of cooling systems for data centers, according to Bloomberg, citing people familiar with the matter.

Cerebras Systems climbed 18.40%. Shares rallied after a Q3 beat and higher guidance, alongside a new Microsoft cloud deal and capacity additions.

US-listed Nu Holdings gained 3.21%. The Brazilian digital lender posted ​third-quarter profit in line with analysts' estimates, while improving ‌its efficiency ratio projections for the year partly due to an artificial intelligence-led slowdown in hiring.

SpaceX shares rose 1.74%. SpaceX and Tesla are progressing in their merger negotiations, and a ​deal could be announced as early as ‌December, Bloomberg News reported on Thursday, citing people familiar with the matter.

Nvidia shares rebounded 1.19%. The shares closed down 4.3% on Thursday as the market digested Jensen Huang's sudden departure.

Other chip stocks also rose in overnight trading. Direxion Daily Semiconductors Bull 3x Shares rose 4%; Marvell Technology rose 3%; SanDisk, Micron Technology, SK hynix, Super Micro Computer Arm, Intel, and Western Digital rose 2%; TSMC rose 1%.

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