$GFS

GlobalFoundries (GFS) marked a milestone in its €1.1 billion Dresden expansion, aiming to increase wafer production capacity to over 1 million annually by 2028. The company also announced FDX Fusion, a next-generation platform for energy-efficient chips designed for Physical AI applications. GFS expects the expansion to support automotive, aerospace, and industrial IoT markets, reinforcing its role as a trusted semiconductor partner in Europe.

Midday trading saw Marathon Petroleum (MPC) and APA up over 4% on rising oil prices. Chipotle (CMG) rose 6% on Starbucks (SBUX) acquisition rumors, while Starbucks fell 5%. Skydance (SKD) gained 4% on CEO comments. Levi Strauss (LEVI) dropped 3% after lowering revenue forecasts. GlobalFoundries (GFS) rose 5% on a $2B manufacturing deal. Haemonetics (HAE) surged 16% on CSL's platform rollout plans. Broadcom (AVGO) fell 1% amid AI chip financing reports.

TSMC reported Q3 revenue of NT$1.49 trillion ($46.71B), up 50% YoY, exceeding expectations. The company announced a $2B AI chip deal with GlobalFoundries. TSM stock fell 0.5% in morning trade, despite 'extremely bullish' retail sentiment.

Levi's (LEVI) shares fell 3.7% after softer DTC sales growth, though earnings beat estimates. Starbucks (SBUX) dropped 3% amid takeover speculation. Argenx (ARGX) fell 15% after discontinuing a drug trial. Haemonetics (HAE) rose 13% on CSL's device rollout plan. Tilray (TLRY) reported record revenue. Wolfspeed (WOLF) gained 11% on a $1.5B US DoD loan. Palantir (PLTR) rose 3% after a Goldman upgrade. Globalfoundries (GFS) rose 3% on a $2B TSMC deal. Helen of Troy (HELE) raised its profit outlook.

GlobalFoundries (GFS) signed a $2B deal with TSMC to produce silicon interposers in New York, with production starting in early 2028. The multi-year agreement aims to expand GFS's role in advanced AI packaging.

GLOBALFOUNDRIES (GFS) reported 62% YoY growth in Communications Infrastructure and Data Center, raised 2026 targets, and hit 29.9% gross margin early. Shares at $48.63, up 31.90% YTD. Analysts' fair value estimate is $76.00, suggesting 36% undervaluation. DCF model estimates intrinsic value at $34.71.

Xanadu Quantum Technologies (NASDAQ:XNDU) shares rose 7.63% to $4.86 after announcing a multi-year partnership with GlobalFoundries (NASDAQ:GFS) to manufacture components for quantum computers, shifting from lab-scale to industrial production.

GlobalFoundries (GFS) completed a $40M solar and battery project at its Vermont site, adding 6MW of solar and 16MW of storage. The initiative supports GF's sustainability goals and grid reliability, with local and state officials in attendance. The project, developed by Encore Renewables and Lightshift Energy, aims to optimize energy use and reduce costs.

BNP Paribas downgraded GlobalFoundries to 'Neutral' from 'Outperform' and lowered its price target to $51 from $80. The company's stock has risen 43.67% year-to-date, with a 5-day change of 50.17 USD and a 50-day change of +3.06%.

GlobalFoundries' Penang hub controls all its wafer fabs globally, according to Tan Yew Kong, Asia-Pacific manufacturing chief. The site, opened in 2023, supports fabs in the US, Germany, and Singapore. The company invested $1M in the control tower and $7M in training. Tan cited talent availability as a key factor in choosing Penang.