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$646 billion wiped from Nvidia in biggest ever company loss in history of the world.

$646 billion wiped from Nvidia in biggest ever company loss in history of the world, The coalition government parties have nudged back up in the latest 1News Verian poll, and ‘Major black-market’ tobacco operation allegedly uncovered in Christchurch.

June 26, 2024

Good Morning,

$646 billion wiped from Nvidia in biggest ever company loss in history of the world, The coalition government parties have nudged back up in the latest 1News Verian poll, and ‘Major black-market’ tobacco operation allegedly uncovered in Christchurch.

Let's jump in.

Before The Bell

Markets

  • ‘Major black-market’ tobacco operation allegedly uncovered in Christchurch. (Stuff).

  • Stock futures rose on Tuesday morning after a selloff in favored technology names brought the Nasdaq Composite to its worst day since April. (CNBC).

  • India’s market has boomed while China’s has slumped, and their wide valuation gap seems justified. (WSJ).

  • Hyundai and Kia Zip Into the U.S. Car Market’s Fast Lane. (WSJ).

Earnings and Data

  • $646 billion wiped from Nvidia in biggest ever company loss in history of the world. (NCA).

  • The Warehouse downgrade: What earnings slide signals for the economy. (Herald).

News Summary

  • The coalition government parties have nudged back up in the latest 1News Verian poll. (Herald).

  • A 16-year-old boy has been arrested after he allegedly walked into a school on Auckland’s North Shore with a knife. (Herald).

  • Two people have been identified alive in the water off Gisborne after three men on a fishing vessel went missing on Monday. (Stuff).

  • The West Coast Regional Council has adopted its new 10-year plan - and with it a 27% rates rise in the first year. (Stuff).

  • It appears the public is as yet unconvinced the coalition Government’s first Budget will deliver them cost of living relief. (1 News).

  • An $80,000 reward for information leading to the location and safe return of three children taken by fugitive father Tom Phillips ends tonight. (1 News).

  • Young woman, 22, falls backwards off treadmill out third-floor window and dies. (NCA).

  • Poll finds widespread unhappiness in European countries with way things are going, and lack of optimism. (Guardian).

  • Emmanuel Macron: win for far left or far right ‘will spark civil war’. (Guardian).

  • For Joe Biden and Donald Trump - the two oldest candidates ever to seek the US presidency - age is an election issue neither can escape. (BBC).

  • Julian Assange has reached a plea deal with the U.S., allowing him to go free. (CNBC).

Deal Flow

Investments / M&A

  • Hedge Fund Making 20% a Year For Last Decade Targets Uranium M&A. (BBG).

Equity Raises

  • Chinese companies’ stock market listings once flooded Wall Street, these days, China’s initial public offerings are in a drought. (NYT).

  • Thelo to Raise $250 Million With Eye on Africa’s Giant Rail Corridors. (BBG).

  • Beijing’s Support to Boost Hong Kong IPOs in Second Half of Year. (BBG).

Debt

  • US judges block parts of Biden's student loan relief plan. (Reuters).

  • Debt market boom delays Europe’s real estate bust as banks rein in their commercial real estate exposure, borrowers are turning elsewhere. (FT).

Daily Picks

  • An $80,000 reward for information leading to the location and safe return of three children taken by fugitive father Tom Phillips ends tonight. (1 News).

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