MGM Rises on Takeover Bid; SK Hynix Falls on Memory Pullback | Stock Movers

AI Summary

MGM Resorts International shares rose following reports of a potential takeover bid by Barry Diller. Meanwhile, SK Hynix and other memory stocks fell due to concerns about artificial intelligence spending sustainability, contributing to volatility in the market. Agenus advanced on a deal to sell up to $3540 million in securities.

On this episode of Stock Movers: - MGM Resorts International (MGM) shares are rising on a report regarding a potential takeover bid from Barry Diller. - SK Hynix (SKHY) shares are lower and other memory stocks are also falling. It is lower over concerns with the sustainability of artificial-intelligence spending. The drop in South Korean trading is likely to cause a hit to the American depositary receipts as well. The debate between the optimists and pessimists will continue, which should create volatility, according to Hendi Susanto, portfolio manager at Gabelli Funds. - Agenus (AGEN) shares are moving higher on news of a deal that it's selling up to $3540 million worth of securities. (Source: Bloomberg)