KOSPI Overdue For Consolidation On Thursday

Gaon Cable, a unit of LS Cable & System, says its U.S. subsidiary LSCUS has won multiple AI data center power infrastructure contracts, including bus duct supply deals tied to projects by Google, Meta and Amazon. LSCUS secured about 4 trillion won ($2.9 billion) in new projects, expanding in North America. The article cites rising demand as AI data centers require higher power density.

Shopify said orders reaching merchant stores from AI search rose 13x year over year, with AI-search orders converting 49% higher than traditional search and generating 14% higher average order values, according to the company. Shopify also highlighted “Agentic Storefronts” for AI discovery and checkout in chat. Separately, it increased its share repurchase authorization by $3 billion to $5 billion.

Oddity Tech (Nasdaq: ODD), parent of Il Makiage, saw its shares peak at a $4.3 billion market cap about a year ago, then fall 86% to about $630 million after a February disruption at its main ad partner, which raised customer acquisition costs and cut revenue. The company withheld annual guidance, citing uncertainty. Analysts remain neutral, with Jefferies calling it a “show me” story.

On June 7, Keefe Bruyette downgraded Allstate (NYSE:ALL) to Market Perform from Outperform and cut its price target to $242 from $266, citing that year-over-year personal auto policies in force growth peaked in February. Analyst Meyer Shields said intensifying rate competition could limit reacceleration. Allstate will stop monthly PIF reporting after May but will continue quarterly PIF growth reporting; it reported Q1 2026 revenue of $16.9 billion and net income of $2.4 billion.

On June 8, 2026, JPMorgan raised its UnitedHealth Group (UNH) price target to $466 from $420 and kept an Overweight rating, citing updated healthcare service models. Mizuho raised its target to $460 from $440 with an Outperform rating, saying policy surprises may moderate. Separately, BofA upgraded UNH to Buy and set a $450 target from $420.

On Friday, 12 June 2026, users worldwide reported a disruption to Meta’s Facebook, Instagram and Messenger, starting around 16:00. According to Downdetector.co.za, complaints spiked, though the site also showed errors. Meta later acknowledged high disruptions in ad delivery and said engineering teams were working to restore Ads Manager ad creation, editing and reporting.