2h ago
Five chipmakers form new ‘MANIA’ trade as SOXX tops 105% YTD; author points to SOXL and SOXS for hedging
The article argues that a new semiconductor-themed trade dubbed “MANIA”—MU, AMD, NVDA, INTC and AVGO—has emerged around the five largest holdings of the iShares Semiconductor ETF (SOXX). It says SOXX is up more than 105% year to date, but technical signals suggest momentum is fading as implied volatility reaches 62%, with an expected $125 trading range over the next three months. The author warns that the concentration risk could leave SOXX, and the QQQ that holds many of the same names, vulnerable to a pullback. It suggests using the leveraged ETFs SOXL and SOXS to hedge or adjust exposure.
2h ago
2h ago
Persistent Systems targets $5 billion revenue by March 2031 with $1.3 billion Nagarro acquisition
Persistent Systems said it will acquire German digital engineering firm Nagarro for $1.3 billion, with the deal expected to close by March 2027. The company said the combined business would have revenue of $2.9 billion after the transaction. It is targeting $5 billion in revenue by 2031. Persistent highlighted synergies in SAP implementation and OpenAI engineering deployment, and said it plans to repay a $1.6 billion short-term loan through cost synergies and cash generation without diluting equity for now.
2h ago
5h ago
Gold and silver extend weekly losses as MCX gold falls 2.06% and Comex gold slips to $4,096.3/oz
Gold and silver extended their declines, with MCX gold for August down 2.06% on the week and MCX silver for September falling 6.4%. Overseas, Comex gold slid 3.5% to $4,096.3 per ounce, while silver dropped 10.7% to $59.67 per ounce. A stronger US dollar and a near-10% fall in crude oil eased inflation concerns and reduced bullion’s appeal as a hedge, while escalating US-Iran tensions provided only limited support, according to analysts cited by PTI.
5h ago
5h ago
Gold and silver seen staying under pressure as crude drops nearly 10% and dollar strengthens
Gold and silver could remain under pressure next week, as a stronger U.S. dollar, rising Treasury yields and a sharp pullback in crude oil—nearly 10%—dilute their inflation-hedge appeal. Last week, gold and silver futures fell 2.06% and 6.4%, while Comex gold slid 3.5% to $4,096.3 per ounce. Analysts said geopolitical risks may offer some support, but macro headwinds are expected to dominate.
5h ago
5h ago
Amgen recalls 944,142 bottles of Corlanor and Sensipar after foreign matter found in sample lot
Amgen is voluntarily recalling 944,142 bottles of its Corlanor and Sensipar tablets after unexpected foreign matter was found in a reserve sample from one lot. The substance was reported to be localized on the outside surface of coated tablets, prompting the recall of multiple lots packaged in the same area, according to the California State Board of Pharmacy. The board said hazard assessments indicate the issue does not pose a clinical risk and that overall patient safety risk is low. No complaints have been reported, and the products were distributed from Oct. 28, 2021 to Dec. 30, 2025.
5h ago
5h ago
Anthropic’s Alibaba dispute puts $1 trillion IPO narrative in focus: how durable is frontier AI’s moat?
Anthropic alleges that Alibaba distilled its Claude frontier model via API access, highlighting a gap in U.S. export controls over cloud-based access to advanced AI. The company is lobbying Congress to tighten rules, backing Rep. Michael Lawler’s Remote Access Security Act, which would target foreign entities that access sensitive AI through cloud services on a “purposeful, knowing, reckless, or negligent” basis. The bill remains stuck in committee, though Anthropic’s latest allegations could increase its chances of moving forward. The episode is not tied to any confirmed IPO timetable or financial disclosures and is not presented as directly linked to prices of any listed tradfi assets.
5h ago
7h ago
India’s gold prices slide Rs 13,267 per 10 grams and silver drops Rs 45,809 per kg from May 10 to June 28 after Modi call
Prime Minister Narendra Modi on May 10 urged Indians to defer buying gold and taking overseas vacations for a year to conserve foreign exchange. In the same month, the government raised the import duty on gold and silver to 15% from 6%. By June 28, India’s 24K gold price had fallen by Rs 13,267 per 10 grams to Rs 1,39,873, and silver was down Rs 45,809 per kilogram to Rs 2,16,541. The measures have weighed on demand and import momentum for precious metals.
7h ago