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Marvell Technology will develop custom AI chips for Google and granted the search giant an option to purchase a $12.2 billion stake, marking the latest major investment by Big Tech in chip suppliers.
Sweetgreen cut its full-year outlook and projected steeper same-store sales declines amid cyclospora outbreak fears, with shares falling more than 15% in extended trading.
Berkshire Hathaway’s operating earnings rose 16% in the second quarter as CEO Greg Abel began deploying the company’s record cash reserves through buybacks and stock purchases.
Wendy’s stock surged more than 14% after reports that Nelson Peltz’s Trian Fund Management is preparing a takeover bid for the burger chain, which has faced consecutive quarterly sales declines.
Astronics reported strong second-quarter results with record revenue, operating profit, and bookings of $306 million, raising full-year guidance to $1.02-$1.04 billion.
Amylyx Pharmaceuticals surged to a new three-year high after its treatment candidate Avexitide demonstrated strong phase 3 results for post-bariatric hypoglycemia, reducing severe low-blood-sugar episodes by 55 percent.
