AMD Inks Chip Deal, VZ Names New CEO, Fifth Third to Buy Comerica
On this episode of Stock Movers:
- Advanced Micro Devices (AMD) triggers an explosive rally after landing a a blockbuster deal with OpenAI to build artificial intelligence infrastructure, giving the chipmaker a chance to show it can mount a challenge to Nvidia Corp. in the AI computing industry.
- Comerica (CMA) shares rise on news Fifth Third Bancorp agreed to buy the bank for about $10.9 billion in stock, the largest US bank deal this year and a sign that the logjam blocking big mergers in the industry may have broken under the Trump administration’s deregulation efforts.
- Verizon (VZ) shares fall as the company concedes it has fallen behind rivals in wireless and broadband service, replaced its chief executive officer of seven years, appointing a new leader with experience in telecom and financial technology. Dan Schulman, 67, who became lead independent director in December, takes over immediately, Verizon said Monday, with a mandate to revive growth and improve the company’s fortunes. The former CEO of PayPal Holdings Inc., he replaces Hans Vestberg, 60, a former Ericsson AB executive who has led the company since 2018.
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