Market movers: TeraWulf, Broadcom, Micron, Solstice Advanced Materials…
Published: 14:30 06 Jul 2026 EDT
SpaceX Corp (NASDAQ:SPCX) is scheduled to join the Nasdaq-100 index before US markets open on Tuesday, marking one of the fastest additions to the benchmark following its recent initial public offering.
The inclusion follows a change to Nasdaq's eligibility rules that allows certain large-cap IPOs to enter the index after 15 trading days, rather than waiting for the next annual reconstitution.
Solstice Advanced Materials (Nasdaq: SOLS) shares fell nearly 15% on Monday after the company announced a $14.5 billion cash-and-stock agreement to acquire Element Solutions (NYSE: ESI), in a deal aimed at expanding its footprint in advanced materials for electronics and AI infrastructure.
The transaction, which includes the assumption of net debt, will see Solstice acquire Element in a combination of $10.00 in cash and 0.500 shares of Solstice common stock for each Element share. The offer implies a value of approximately $50.10 per Element share and represents a premium of about 15% to Element’s closing price on July 2, 2026. Upon completion, Element shareholders are expected to own roughly 44% of the combined company.
TeraWulf (NASDAQ:WULF) shares rose 13% on Monday after the company announced a long-term artificial intelligence infrastructure lease with Anthropic alongside the sale of a majority stake in a joint venture, moves that significantly expand contracted revenue while recycling capital into new development projects.
The digital infrastructure company said it has signed a 20-year lease agreement with Anthropic for capacity at its Justified Data Campus in Hawesville, Kentucky.
Micron Technology Inc (NASDAQ:MU) and Ford Motor Company (NYSE:F) have entered into a long-term Strategic Customer Agreement aimed at strengthening the supply of memory and storage solutions for Ford’s future vehicle production, the companies said.
The agreement is designed to support Ford’s next-generation vehicle programs by securing a more stable supply of high-performance automotive memory and storage products, which are increasingly critical as vehicles become more software-driven and data-intensive.
Broadcom Inc (NASDAQ:AVGO, XETRA:1YD) has extended its chip partnership with Apple Inc (NASDAQ:AAPL, XETRA:APC) through 2031, expanding a long-running supply agreement covering custom semiconductor development and production.
The expanded arrangement, disclosed by Broadcom in a regulatory filing, builds on a relationship that has lasted for years. Apple is widely viewed as one of Broadcom’s largest customers and is estimated to account for roughly 20% of the chipmaker’s annual revenue.
Microsoft Corp (NASDAQ:MSFT) shares fell after the software giant said it would cut around 4,800 jobs, or 2.1% of its global workforce, as it restructures to focus on its biggest growth priorities.
The stock was down 1.7% at $383.84 in late morning trading.
