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AI & Enterprise

AI fear-battered stocks revive in August U.S. market rebound lineup

In August, U.S. stocks that had been weighed down by Wall Street’s bearish narratives rebounded sharply, CNBC reported. Jim Cramer said worries over AI threats, slower growth and worsening conditions were overturned by earnings and shifts in positioning. Moderna surged after reporting promising results for an experimental melanoma vaccine with Merck. Enterprise software names rebounded as a high-leverage hedge fund unwound bets. Other gainers included Gartner, Newmont, Paramount Skydance, Super Micro Computer, Sandisk and Coinbase.

Industry

EU conditionally approves Paramount takeover of Warner Bros Discovery; U.S. lawsuit remains final hurdle

The European Union has conditionally approved Paramount’s takeover of Warner Bros Discovery, requiring Paramount to unwind its joint distribution arrangement with Universal in Europe. The European Commission said the deal would have led to Warner films being distributed through Universal International Pictures, potentially worsening rental and distribution terms for cinemas and harming consumers. Paramount must exit the venture within 13 months and refrain from joint distribution with Universal for 10 years. A U.S. lawsuit and a UK review remain.

Industry

U.S. biotech Axiom chooses Hong Kong over Nasdaq for first listing

U.S. biotech Axiom Biosciences has chosen Hong Kong, not a U.S. exchange, for its first stock market listing. The San Diego-based company is pursuing a Hong Kong listing in 2027 and is considering a secondary U.S. listing in 2029. Axiom expects Hong Kong to provide access to specialist biotech investors and expand cooperation with Asian clinical trial and commercialization partners amid shifting global biotech financing conditions.