Why is Hoyne Bancorp stock surging 7% today?

Goldman Sachs upgraded CoreWeave, signaling confidence despite its $626M Q2 net loss and high debt. Ark Invest and other banks remain bullish, citing strong demand. CoreWeave's revenue doubled to $2.575B, but debt interest costs raised concerns. The company's co-founder assured revenue is secured through 2027.

Rio Tinto (RIO) plans to invest $2.7B in the Kangwinan Bauxite Project in Queensland, Australia, with first output expected in 2029. The project will add 20Mt/year of bauxite capacity, reaching full production by 2032. The company expects a 22% internal rate of return. Additionally, Rio Tinto agreed to acquire the adjacent Aurukun Bauxite Project from Glencore (GLEN) and Mitsubishi (7211), subject to approvals.

Samsung Electronics (005930) and SK Hynix (000660) fell in pre-market trading due to AI investment concerns and a broader tech sell-off. Samsung Electronics dropped 4.20% to 205,500 won, while SK Hynix declined 2.37% to 1,194,000 won. SK Hynix withdrew its Solidigm IPO, mitigating some losses. U.S. tech stocks fell sharply, with the NASDAQ down 2.6% and the Philadelphia Semiconductor Index down 6.72%.

Equinor awarded Aibel a FEED contract for the Wisting FPSO topsides in the Barents Sea, with decisions on concept selection and execution expected by year-end. A final investment decision is likely in late 2027. The project may include carbon capture to reduce emissions. Meanwhile, the Norwegian Offshore Directorate is studying gas discoveries like Norselhøgda for potential development.

Keros Therapeutics (NASDAQ:KROS) initiated a Phase II study of rinvatercept for Duchenne muscular dystrophy (DMD), expecting data in early 2027. The treatment aims to increase muscle regeneration. Keros also plans an ALS trial in 2027, targeting muscle preservation. The company will use DEXA scans and functional assessments to evaluate progress.

Rio Tinto (ASX: RIO) and China Mineral Resources Group (CMRG) agreed on a multiyear iron ore supply deal, covering November 2023 to May 2028. CMRG, a state-backed buyer, has expanded its influence in the global iron ore market. Benchmark iron ore prices have fallen 15% this year, recently trading below $90 a ton. Rio Tinto declined to comment on commercial talks, while CMRG did not immediately respond.