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Hi there, this is your daily ☕️ Finpresso.
In today's newsletter: 📈 Micron rides the AI memory wave 🥈 Silver's dramatic slide from record highs ⚖️ DOJ targets Big Oil over pump prices 🛢️ Iraq weighs a dramatic OPEC exit 💾 SK Hynix eyes a landmark US listing Plus: 🌍 7 macro news, 🏢 6 corporate news, 💰 4 deal flow, and 📑 5 research & reports.
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📊 Before The Bell
 | Change over the last 24 hours · as of Jun 25, 2026, 8:43 AM ET |
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FROM OUR PARTNER
In These 7 Stocks Will Be Magnificent in 2026, we highlight companies that may look unremarkable today… But you'll soon see they all have the traits that historically define future market leaders. Today, you can access the full list free - and see which "boring" companies could end up looking obvious in hindsight. Send My Free Report |
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📰 Top News
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📈 Micron rides the AI memory wave
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- Micron's fiscal third-quarter revenue more than quadrupled to $41.46 billion from $9.3 billion a year earlier, beating the nearly $36 billion LSEG consensus, as the AI boom lifts memory demand and sends the stock up 16.4% premarket.
- AI data center buildouts by hyperscalers have reduced memory supply for smartphones and PCs, creating an imbalance that raised prices, while Micron signed 16 long-term agreements expecting $22 billion in financial commitments and guided current-quarter revenue to about $50 billion versus $11.3 billion prior year.
- The earnings lifted global tech stocks, reversing the week's selloff as Qualcomm rose 12%, Intel nearly 6%, AMD 3.6%, and Nvidia 1.5% premarket, with RBC reiterating Outperform on roughly 40% of revenue from minimum-price contracts limiting margin risk.
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🥈 Silver's dramatic slide from record highs
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- Silver collapsed more than 50% from its all-time high of $121, falling below $60 after surging from $47 in barely a year, marking one of the sharpest reversals in decades.
- The crash traced to Iran tensions lifting oil prices and stoking inflation to its fastest pace since 2023, which dismantled rate-cut expectations, lifted real yields and drove the dollar to a one-year high, making yield-less silver a liquidation target.
- Gold held in the low $4,000 range as silver broke twice as hard given its dual monetary and industrial role, while the six-year supply shortage widened to a 46-million-ounce annual deficit yet failed to support prices.
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⚖️ DOJ targets Big Oil over pump prices
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- President Trump has directed the Department of Justice to investigate the largest oil companies, accusing them of "gouging" customers by failing to drop pump prices commensurate with the sharply lower crude prices they are paying.
- Trump issued the message on Truth Social, arguing oil prices are "dropping like a rock" while gasoline prices are not declining fast enough, and saying he wants the DOJ to immediately start looking into the disparity.
- Crude prices are moving lower in early trading, with WTI and Brent under pressure, though both benchmarks remain much higher than pre-war levels despite retreating from the highs of the Iran crisis.
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🛢️ Iraq weighs a dramatic OPEC exit
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- Iraq, OPEC's second-largest producer, is weighing an exit from the cartel if the organization rejects Baghdad's plan to raise its oil production quota in line with some other members, government sources told Shafaq.
- Iraq proposes boosting oil exports to compensate for production and sales losses incurred since the war began, while estimating that exceeding its quota would bring an expected decline in global oil prices amid higher supply in the near to medium term.
- Any decision would likely follow Prime Minister Ali al-Zaidi's planned mid-July Washington visit, with an Iraq exit a bigger blow than the UAE's withdrawal effective May 1, 2026, in an economy where petroleum sales still account for 90% of state budget revenues.
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💾 SK Hynix eyes a landmark US listing
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- SK Hynix plans to raise as much as $29.4 billion through a Nasdaq listing, marking what would be a record-breaking U.S. stock market debut for the South Korean chip giant via American depositary receipts.
- Shares surged 11% on Thursday after the company said it would issue 17.79 million new shares as ADRs, an offer that could raise 45.45 trillion won ($29.65 billion), with trading expected to begin July 10.
- SK Hynix said the listing would broaden its investor base and elevate its status, as it ramps up AI chip investment via its Yongin cluster, set to begin operations in 2027, and a $4 billion Indiana packaging plant.
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🌍 Macro News
- The Dollar Index hit 101.63 as investors fled a $1.3 trillion tech selloff. LINK
- U.S. new home sales fell 7.3% in May, missing all analyst forecasts. LINK
- The Fed stress test found all 32 large banks can weather a severe recession. LINK
- Gold fell nearly 4% to $3,988 and silver dropped nearly 6% to $58.44. LINK
- Europe's heatwave pushed electricity prices to multi-year highs on Tuesday. LINK
- The UK will cut tariff-free steel import quotas by 51% from July 1. LINK
- China's auto industry is unsettling global rivals despite declining domestic sales. LINK
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🏢 Corporate News
- Germany is on track for its third-highest first-half M&A total in 20 years. LINK
- Qualcomm shares jumped 15% after it doubled its 2029 non-handset revenue forecast. LINK
- Rheinmetall shares fell 17% after Berlin reportedly scrapped a frigate-building program. LINK
- Amazon will invest an additional $13 billion in AI and cloud infrastructure in India. LINK
- BTIG initiated Take-Two with a buy rating and $290 target ahead of GTA 6. LINK
- Amazon and Alphabet sold debut Canadian dollar bonds without standard roadshows. LINK
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📈 Stocks
| ▲ Biggest winners | | KB Home rose 16.65% after Q2 beat and upbeat back-half margin guidance. LINK | | Shift4 Payments, Inc. rose 14.35% after Senate CBDC ban lifted crypto-payment sentiment. LINK | | Sunrun Inc. rose 12.57% as investors rotated into rate-sensitive solar on jobs data. LINK |
| ▼ Biggest losers | | Regencell Bioscience Holdings L fell 22.74% on heavy insider-selling volume and lack of news. LINK | | Cerebras Systems Inc. fell 19.61% after AI-chip peers sold off on spending-worry contagion. LINK | | Novagold Resources Inc. fell 14.13% as gold miners slid with bullion on dollar strength. LINK |
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💰 Deal Flow
- Eli Lilly completed its $7.8 billion acquisition of Centessa Pharmaceuticals. LINK
- Qualcomm agreed to acquire AI software firm Modular for roughly $4 billion. LINK
- Walmart will pay $1.4 billion to acquire French ad-tech firm Vibe.co. LINK
- InMode shares rose 10% after receiving an unsolicited $16.20-per-share takeover bid. LINK
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📅 Market Calendar
 | Earnings · Economic events |
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📑 Research & Reports
- Morgan Stanley nearly doubled its 2026 forecast for China humanoid robot shipments to 50,000. LINK
- BlackRock recommended 1% to 2% Bitcoin exposure in diversified portfolios. LINK
- About $55 billion of India's renewable energy assets face climate damage risk by 2030. LINK
- Aave's token surged 15% after Standard Chartered set a $3,500 price target for 2030. LINK
- AI investment is surging among executives even as enterprise operating models lag. LINK
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