Synopsys Halts Forecasts Amid China Chip Crackdown; Intellia Stock Plunges on Safety Concerns
Key Takeaways
- Synopsys suspended forecasts due to U.S. restrictions on chip software exports to China.
- Intellia (NTLA) stock plummeted 22.88% on 2025-05-29 due to safety concerns.
- BofA raised e.l.f. Beauty (ELF) target to $113 after Rhode acquisition on 2025-05-29.
- LGI Homes (LGIH) hit a 52-week low at $50.49 on 2025-05-29.
- Wells Fargo (WFC) stock rose on 2025-05-29 after OCC agreements terminated.
Top Stories
Synopsys suspends forecasts amid China chip software export crackdown
On 2025-05-29, Synopsys halted its forecasts after the U.S. government imposed restrictions on chip software exports to China.
Intellia (NTLA) stock tumbles 22.88% on safety concerns
On 2025-05-29, Intellia stock (NTLA) experienced a significant drop, declining by 22.88% due to emerging safety concerns.
BofA raises e.l.f. Beauty (ELF) target to $113
On 2025-05-29, Bank of America (BofA) increased its stock target for e.l.f. Beauty to $113 following the company's acquisition of Rhode.
LGI Homes (LGIH) hits 52-week low at $50.49
On 2025-05-29, LGI Homes stock reached a 52-week low of $50.49 amidst challenging market conditions.
Wells Fargo (WFC) stock rises on terminated OCC agreements
On 2025-05-29, Wells Fargo stock increased following the termination of its 2015 agreements with the OCC (Office of the Comptroller of the Currency).
Global View
Brazil stocks close lower; Bovespa down 0.25%
Turkey stocks close lower; BIST 100 down 0.08%
Market Snapshot
Stocks rise, dollar pares gains amid US trade ruling
Published on 2025-05-28, stock markets experienced gains while the dollar reduced its gains as markets reacted to a U.S. trade ruling.
Stock Market Updates
Nvidia, Tesla, Kohl's rise; Best Buy, Hormel fall premarket
Analyst Insights
Piper Sandler raises Nutanix (NTNX) target to $88
Piper Sandler increased its stock target for Nutanix to $88, citing the company's stable growth.
BofA Securities raises Pure Storage (PSTG) target to $76
On 2025-05-29, BofA Securities increased its stock target for Pure Storage to $76.
Stifel maintains Intuit (INTU) buy rating, $850 target
On 2025-05-29, Stifel maintained its buy rating for Intuit with a price target of $850, despite recent price increases.
Wells Fargo cuts SentinelOne (S) rating, lowers target
Wells Fargo downgraded its rating for SentinelOne stock and lowered the price target to $18.
FDA Actions
Stealth Bio cuts jobs after FDA rejection
On 2025-05-29, Stealth Bio announced job cuts following the FDA's rejection of its therapy for a rare disorder.