Goldman Sachs Downgrades Spotify to Neutral on Stock Risk/Reward
Goldman Sachs cut Spotify's stock rating to "Neutral" (from "Buy"). They think the stock price already reflects its strong future revenue growth.
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DoorDash Challenges Instacart with Kroger Partnership Expansion
DoorDash is launching 2,700 Kroger stores on its app (Oct 1). This challenges Instacart, which handles 10%+ of Kroger’s delivery sales. Instacart risks losing its top spot with Kroger and losing market share to rivals.
TSMC Rejects Intel Investment and Partnership Rumors
Top chipmaker TSMC denied rumors of an investment or partnership with struggling Intel. TSMC stated it has not entered talks for joint ventures or technology transfer.
China Robotaxi 'Inflection Point': Citi Initiates Coverage
Citi initiated "Buy" coverage on leading China robotaxi operators, WeRide and Pony AI, predicting massive market growth through 2035, signaling an industry inflection point.
Deutsche Bank Upgrades Lam Research to Buy: 'Cyclical and Secular Tailwinds'
Deutsche Bank upgraded Lam Research to Buy, citing strong market trends including improved memory supply/demand and momentum at key foundries.
Occidental Petroleum Divests OxyChem to Reduce Debt
Buffett-backed Occidental Petroleum is preparing its largest-ever asset sale, aiming to sell its massive OxyChem division for an estimated $10 billion. This move is critical to help the company reduce its heavy debt burden.