Trade Deal Moves Defense Stocks, Airlines Higher, Tesla Deal with Samsung
On this episode of Stock Movers:
- LNG and defense stocks rise in premarket trading, after the European Union agreed a trade deal with the US, committing to big purchases of American energy products as part of the pact.
- Samsung Electronics will produce AI semiconductors for Tesla (TSLA) in a new $16.5 billion pact that marks a win for its underperforming foundry division.South Korea’s largest company announced on Monday that it secured the 22.8 trillion won chipmaking agreement, which will run through the end of 2033. The plan is for an upcoming plant in Taylor, Texas, to produce Tesla’s next-generation AI6 chip, Tesla chief Elon Musk said on X, confirming a Bloomberg News report.
- Boeing Co. (BA) is preparing for a strike at its St. Louis defense hub after factory workers rejected a contract offer that would’ve boosted their wages by 20% over four years.The International Association of Machinists and Aerospace Workers Local 837, which represents 3,200 Boeing defense workers in Missouri and Illinois, said its members voted overwhelmingly against the new terms Sunday.
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