Polish Stocks Fall Post-Election; xAI Raises $300 Million
Key Takeaways
- Polish stocks declined after a nationalist candidate won the presidential election.
- Elon Musk’s xAI initiates $300mn share sale, valuing the company at $113 billion.
- Blueprint Medicines' stock soars on Sanofi acquisition deal.
- Trump's tariff threat stumbles European shares; steel tariffs doubled to 50%.
- Perenti shares surge on $710 million mining contract in Burkina Faso.
Top Stories
Polish stocks slid after nationalist presidential win
On June 2, 2025, Polish stocks experienced a downturn following the victory of a nationalist candidate in the presidential election.
Elon Musk’s xAI initiates $300mn share sale
On June 2, 2025, Elon Musk’s xAI began a $300 million share sale, valuing the company at $113 billion.
Blueprint Medicines' stock soars on Sanofi acquisition deal
On June 2, 2025, Blueprint Medicines' stock price increased significantly following the announcement of an acquisition deal with Sanofi.
Trump's tariff threat stumbles European shares; Cramer's analysis
On June 2, 2025, European shares declined due to a new tariff threat from President Trump. Jim Cramer discussed Trump's new steel tariffs, noting they are a 'double-edged sword' for domestic producers, highlighting gains in Nucor, Steel Dynamics, and Cleveland-Cliffs after tariffs on steel products doubled from 25% to 50%.
Perenti shares surge on $710 million mining contract
On June 1, 2025, Perenti shares rose sharply following the award of a $710 million mining contract in Burkina Faso.
Analyst Insights
Truist Securities initiates buy rating on Visa: $400 target
JPMorgan reiterates Vera Therapeutics rating after study data
Mizuho upgrades Red Rock Resorts' stock rating to outperform
JPMorgan adds Best Buy, Wayfair to positive catalyst watch
UBS maintains neutral rating, $123 target for Ollie's
TD Cowen raises ServiceNow target to $1,150
Company Spotlight
Applied Digital shares surge on CoreWeave AI data center lease
AngloGold Ashanti stock rises on asset sale agreement
Fintech Chime prepares for IPO with lower valuation
On June 2, 2025, it was reported that Fintech Chime is preparing for an IPO but is facing a significantly reduced valuation.
Team Inc director Evan Lederman sells $29,766 in stock
Flex LNG finalizes $175 million lease financing
HSBC to inject $4 billion into private credit funds
Disney lays off hundreds in film, TV, finance
On June 2, 2025, Disney is conducting layoffs of several hundred employees across its film, TV, and finance divisions globally.
Financial Highlights
BioNTech's stock soars 15% on Bristol Myers cancer deal
Market Developments
Wall Street modestly gains, dollar weakens amid trade tensions
Economy Today
Dollar slides towards 3-year low on weak US data
On June 2, 2025, reports indicated that the dollar is declining towards a 3-year low as weak US economic data fuels economic concerns.
Policy Updates
Google to appeal online search antitrust decision
On June 2, 2025, Google announced its decision to appeal the antitrust ruling related to its online search practices.