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Claire Yubin Oh3/12/25

INTC stock is rising after TSMC pitched an Intel foundry joint venture to Nvidia, AMD, and Broadcom

Taiwanese chipmaking giant TSMC is in discussions with Nvidia, AMD, Broadcom, and Qualcomm about taking a stake in a joint venture to operate Intel’s foundry division, its loss-making business that manufactures chips for other companies.

Under the proposal, TSMC would oversee the day-to-day operations of Intel’s custom chipmaking facilities while owning no more than a 50% stake in the business, Reuters reported on Wednesday.

The news has sent Intel up 8% in premarket trading, with the stock currently topping the S&P 500 for the day.

The initiative comes after President Donald Trump’s administration requested TSMC to help turn around Intel as part of a broader effort to restore advanced manufacturing in the US, but did not want Intel or its foundry division to be entirely foreign-owned. The American industrial icon has been struggling in recent years, reporting its first annual loss since 1986 last year and seeing its shares decline by ~70% in the past five years as the company fell behind competitors.

Exclusive: TSMC pitched Intel foundry JV to Nvidia, AMD and Broadcom, sources say

Exclusive: TSMC pitched Intel foundry JV to Nvidia, AMD and Broadcom, sources say

Under the proposal, TSMC would oversee the day-to-day operations of Intel’s custom chipmaking facilities while owning no more than a 50% stake in the business, Reuters reported on Wednesday.

The news has sent Intel up 8% in premarket trading, with the stock currently topping the S&P 500 for the day.

The initiative comes after President Donald Trump’s administration requested TSMC to help turn around Intel as part of a broader effort to restore advanced manufacturing in the US, but did not want Intel or its foundry division to be entirely foreign-owned. The American industrial icon has been struggling in recent years, reporting its first annual loss since 1986 last year and seeing its shares decline by ~70% in the past five years as the company fell behind competitors.

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Hims & Hers sees surge turn sour in its biggest reversal since the 2025 stock market bottom

Hims & Hers erased gains of more than 5% in early trading to close down more than 7% on Thursday.

It’s the first time the telehealth company saw an intraday gain of 5% or more turn into a loss of 5% or more since April 8, 2025, which marked that year’s bottom for the S&P 500 amid the tariff-induced tumult.

Hims has been on an absolute tear this week after reaching a renewed partnership with Novo Nordisk to sell its weight-loss drugs, a pact that resolves the massive legal overhang that had been plaguing the stock. The momentum continued as Wall Street scrambled to boost its outlook on the shares following this arrangement.

There’s not much in the way of company-specific news to point to: Hims, like many other firms, tanked after the market opened as oil climbed.

Perhaps this is just a consolidation period — the so-called pause that refreshes — or a potential sign that the stock has squeezed all the juice it could out of one catalyst as the overall market wobbles under the weight of high oil prices brought about by the ongoing war in the Middle East.

Tasha Matsumoto

Stocks tumble as Brent crude closes above $100

Investors were plagued by inflation fears amid rising oil prices and ongoing private credit concerns.

Black Bear in Yukon Territory

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Matt Phillips6h

Firefly Aerospace rockets higher as traders snap up calls

Firefly Aerospace shares soared after Wednesday’s successful liftoff of its Alpha rocket for the first time in almost a year was followed by a flurry of call buying in the options market.

Shortly before 3 p.m. ET on Thursday, roughly 36,000 call options on Firefly had changed hands, more than twice the average over the previous 20 days.

The Cedar Park, Texas-based designer and manufacturer of space launch vehicles has lost some serious altitude since its August 2025 IPO. It’s down about 60% since then, even after Thursday’s surge.

Vandenberg rocket launch visible across West Coast. Here's a recap

Vandenberg rocket launch visible across West Coast. Here's a recap

The Cedar Park, Texas-based designer and manufacturer of space launch vehicles has lost some serious altitude since its August 2025 IPO. It’s down about 60% since then, even after Thursday’s surge.

Woe de toilette

Spiking oil prices have investors turning up their noses at fragrance stocks

Estée Lauder and International Flavors & Fragrances are among the worst-performing stocks since the kinetic conflict in the Middle East started.

Aramis Special Blend Event

markets

Saleah Blancaflor7h

Gas jumps $0.60 in under two weeks, hitting $3.60 as the market braces for possible $4 a gallon

Spring is just around the corner and gas prices just keep getting higher.

The national average for a gallon of regular gas is currently at $3.598, according to the American Automobile Association, jumping nearly $0.35 since last week.

The most recent prices are similar to the spring of 2024, while this is the first time it has gone above the $3.50 threshold since July 29, 2024.

While gas prices tend to increase during the warmer months, crude oil prices have played a major part in what consumers have been paying, at times exceeding $100 per barrel in the past few days.

To offset the rising energy costs due to the conflict in the Middle East, the US Department of Energy announced it would release 172 million barrels of oil from strategic reserves over the next four months as part of the larger effort to release 400 million oil barrels.

Prediction markets are pricing in an implied 62% chance that the price of gas exceeds $4.00 by the end of the month. Things may get even more expensive, though; markets are pricing in roughly even chances that gas finishes above $4.10, and even a 22% chance gasoline averages $4.50 per gallon by March 31.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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US gas prices jump to nearly $3.60 per gallon

AAA Fuel Prices

While gas prices tend to increase during the warmer months, crude oil prices have played a major part in what consumers have been paying, at times exceeding $100 per barrel in the past few days.

To offset the rising energy costs due to the conflict in the Middle East, the US Department of Energy announced it would release 172 million barrels of oil from strategic reserves over the next four months as part of the larger effort to release 400 million oil barrels.

Prediction markets are pricing in an implied 62% chance that the price of gas exceeds $4.00 by the end of the month. Things may get even more expensive, though; markets are pricing in roughly even chances that gas finishes above $4.10, and even a 22% chance gasoline averages $4.50 per gallon by March 31.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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