Benjamin Hughes

December 27, 2023 - 05:15 am

Intel witnessed a 5.2% increase in its semiconductor stock value following the announcement of a $3.2 billion grant from the Israeli government. This grant is intended for Intel to construct a $25 billion chip plant in southern Israel, marking the company's most significant investment in the Middle Eastern country. Other stocks in the sector also experienced gains, with the VanEck Semiconductor ETF (SMH) rising over 1% on Tuesday.

Gracell Biotechnologies saw a remarkable 60% surge in its shares after AstraZeneca revealed plans to acquire the Chinese cell therapy company for up to $1.2 billion. AstraZeneca's stock, however, remained relatively unchanged.

RayzeBio's shares soared by over 100% following the announcement of its acquisition by Bristol Myers Squibb, a radiopharmaceutical company. Conversely, Bristol Myers' shares declined by 1.6%.

Manchester United's stock rose by more than 3.4% as British billionaire Jim Ratcliffe concluded a deal to purchase a quarter of the English soccer club, resolving a year of uncertainty over ownership. Ratcliffe is set to pay $33 per share, while the shares closed at $19.84 on the previous Friday.

Nio, the Chinese electric vehicle maker, experienced a 10.8% increase in its stock value after unveiling its flagship sedan during the annual customer event over the weekend. Other electric vehicle stocks, including Rivian and Tesla, also saw gains, each rising by over 1%.

FedEx's shares increased by 1.6% after the parcel delivery service initiated an accelerated share repurchase agreement with Mizuho. Through this agreement, FedEx will repurchase $1 billion worth of its stock.