Overnight US stocks | The three major indexes fluctuate differently, with the Dow Jones Industrial Average hitting a new all-time high again.
21/09/2024
GMT Eight
Alphabet Inc. Class C (GOOG.US) faces final ultimatum from EU, potential hefty fines and forced business model change if search engine practices are not adjusted.The formal charges are mainly about how Alphabet Inc. Class C displays competitors' products in different search services (for example, Google Flights and Google Hotels). If the regulations are not followed, Alphabet Inc. Class C may face fines of up to 10% of their global annual revenue. Sources say that the preliminary results of the EU's investigation may be released before the end of October, but with the upcoming reshuffling of personnel in the EU Commission, the timing of the meeting may be delayed. Alphabet Inc. Class C still has time to address the concerns of EU authorities. A final ruling on the case will be made by the end of March next year.The American General Motors Company (GM.US) has announced a recall of over 449,000 vehicles. According to local time on September 20th, the American General Motors Company announced the recall of over 449,000 sport utility vehicles (SUVs) and pickup trucks, as the electronic brake control software in some vehicles may not illuminate warning lights properly when brake fluid is lost. General Motors Company stated that without warning lights, drivers may operate the vehicle with insufficient brake fluid, resulting in reduced braking performance and increased risk of accidents.
Some manufacturers claim they are no longer able to order the NVIDIA Corporation (NVDA.US) H20 chips. It was reported today by industry insiders that some manufacturers are unable to order NVIDIA Corporation H20 chips. One industry source stated today, "NVIDIA Corporation stopped taking H20 orders last month, but did not issue a formal notice." Another AI company executive also confirmed, "There have indeed been cases recently where NVIDIA Corporation does not accept orders for H20 chips from certain manufacturers." Several industry insiders including internet companies, large model manufacturers, and chip suppliers have stated that there have been rumors of H20 ceasing production, but NVIDIA Corporation is still attempting to negotiate. However, multiple companies have reported, "There are still large shipments of H20 chips arriving recently, exceeding the annual shipment target of around 400,000 chips."
Rating by major banks
JPMorgan Chase: "Neutral" rating for Arm (ARM.US), with a target price of $140