0721 ET – Filtronic’s largest-ever order is a sign of its exceptional operational progress this year, Berenberg analysts write. The defense and aerospace telecom company secured a $68.1 million follow-on order from Elon Musk’s Space X to provide high-frequency telecom technology. “This record order is a strong endorsement of the relationship with Space X, and of Filtronic’s ability to meet Space X’s quality demands and pace of production,” the analysts say. Though shares have pulled back from their highs in May, Berenberg sees significant upside with a buy rating on the stock and 440 pence price target. Filtronic shares are up 6% at 273 pence.
0523 ET – European chip stocks jump following a report saying that Samsung Electronics is increasing prices for its memory chips. Samsung is quoting prices around $4 per gigabit in negotiations with customers of its HBM4 memory chips—three times ahead of its current rates, according to a report in South Korean financial daily MK. Shares in European suppliers of Samsung jumped as AI-related stocks on the continent rise more broadly. ASML, Europe’s most valuable company, increases 2.2%, while ASM International gains 4.7%. Analog chip makers Infineon and STMicroelectronics gain 6% and 3.3%, respectively. Stocks linked to the AI buildout also trade higher, with Siemens Energy up 2.6% while Prysmian adds 4%.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing