00:00 Speaker A
Target shares jumping today after the Financial Times reported that activist investor Tom’s Capital has built a stake in the big box retailer. Stock is up nearly 3% on that news even as Target remains down about 25% over the past year, following a tough stretch marked by weaker sales and lost market share. Target says it remains focused on getting back to growth while details of the activist stake have not yet been disclosed.
00:36 Speaker A
Oil moving lower as investors react to progress in Ukraine peace talks, prospect of a deal could allow more Russian crude back onto the global market, adding to supply concerns. Crude oil prices are hovering around $57 a barrel with Brent near 60. Traders continuing to weigh geopolitics against expectations of a global oil glut in 2026.
01:13 Speaker A
And shares of Nvidia rising after announcing its largest deal ever, agreeing to buy assets from AI chip startup Groq for a reported $20 billion. The move deepens Nvidia’s push into AI inferencing as it looks to extend its dominance beyond chips. Groq, founded by former Google TPU engineers, was valued at just under $7 billion in a recent funding round. Nvidia says it’s licensing Groq’s technology and bringing key talent on board, not acquiring the company outright, as competition in AI hardware continues to intensify.
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