SpaceX Gains on Cell Site Talks, Citi Wins China Approval, SK Hynix Scraps Solidigm IPO
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Shares of SpaceX (SPCX) moved higher ahead of Friday open on Wall Street as the company aims to 80,000 cell sites across the US. Sources tell Bloomberg that SpaceX is in talks with at least one major tower operator. The new infrastructure would complement existing Starlink satellites and recently acquired wireless spectrum. - Shares of Citigroup (C) were little changed in the early session after the bank received approval to launch a wholly-owned securities business in China, ending a nearly five-year journey marked by regulatory friction in both Washington and Beijing. The green light, confirmed by the lender and announced by China’s regulator, came just weeks after Xi Jinping and Donald Trump met in Washington. - US-listed shares of SK Hynix (SKHY) rallied in premarket trading after the semiconductor company scrapped plans for a potential $10 billion US listing of its Solidigm unit. The move came after facing strong opposition from regulators and shareholders, making SK Hynix the latest firm to pull an IPO while growing investor unease over the artificial intelligence boom rocks markets. See omnystudio.com/listener for privacy information.