In This Article:
Taiwan Semiconductor Manufacturing Company (TSM) plans to build additional chip plants throughout Europe, according to a Bloomberg report.
B. Riley Financial (RILY) shares catapult by nearly 25% in pre-market trading after agreeing to sell its majority stake in Great American Holdings to Oak Tree Capital Management (OAK-PB, OAK-PA) for nearly $400 million.
Lastly, Delta Air Lines (DAL) suspends its hot meal service for flights departing from Detroit due to "food safety issues."
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Luke Carberry Mogan.
Welcome back everyone. We're taking a closer look at Yahoo! Finances trending tickers, Taiwan Semiconductor, B. Riley, and Delta Airlines. We're doing it in 30 seconds each or less, or we'll try. First up, let's go to Taiwan Semiconductor, reportedly planning on more chip plants in Europe tied to the market for AI. This is according to Bloomberg. Here you're seeing shares up by about 1.6%. Of course, you'll remember that even as their expansion announcing or launching construction of new factories, um, a new factory in Dresden in August 2024, that was launched here. And then additionally the company is going to be reporting earnings, uh, expected to report a third quarter profit on Thursday.
All right, turning to B. Riley, the investment bank selling a majority stake in its Great American Holdings business, Doctree Capital Management, worth roughly $400 million. You're looking at the move to the upside here for B. Riley, up just about 23%. It's going to help with the company's debt load would total just about two billion at the mid-year mark. Now remember this company also suspended its dividend back in August, put a priority on cutting some of that leverage. It has been a company that has been struggling now for quite some time. We've talked about this time and time again. They recently, uh, they missed a deadline for filing their second quarter financial statements, those are still pending. Also US authorities probing some of its business deals and disclosures, all of that has been weighing on shares that you can see down 74% year to date.
All right. And we're also taking a look and going to the skies at Delta Airlines. The company is suspending hot meal service for many flights departing its Detroit hub due to a food and safety issue. There you're taking your look at shares. Uh, they're still higher by about a quarter of a percent. So kind of shrugging it off here at this moment. But of course, you'll remember that this is largely for flights that are over 900 miles here. Uh, flights between 900 and 2,300-ish miles. They actually have a chef-curated meal served at certain departure times as well. Uh, I typically opt to not get the hot meal service.
