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5 Top Stories

Intuitive Falls; ARK Trims TSM; Samsung Wearables

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Intuitive Plummets on Lander Mishap

The Intuitive Machines [LUNR] share price dropped by some 30% Monday, after the space exploration firm announced that its Odysseus moon lander had fallen over and was lying on its side. Despite this, five out of six of the lander’s NASA payloads were still functional and are expected to carry out their objectives. The company went public a year ago, but only 18% of its stock is available to trade.

A New Era for Wearables?

South Korea’s Samsung [005930:KS] is to launch its latest wearable, the Galaxy Ring, which will include sensors which track heart rate and sleep, Hon Pak, the Head of the digital health team at Samsung, told CNBC. The Ring is on display at the Mobile World Congress in Barcelona, which opened yesterday. Elsewhere, Apple is weighing developing new wearable devices, including a fitness ring and smart glasses, Bloomberg reported.

India Weighs Chip Proposals, as ARK Trims TSM

As part of its push to kickstart the domestic chip industry, India is considering funding proposals, including one from Israel’s Tower Semiconductor [TSEM] for a $9bn plant, and another from the Tata Group for a $8bn plant. Meanwhile, Taiwan Semiconductor Manufacturing Company [TSM] opened its first plant in Japan on Saturday. Cathie Wood’s ARK Invest sold shares in the firm for the first time in over two years on Friday.

Zealand Pharma Pops on Obesity Drug Trial

Denmark’s Zealand Pharma [ZEAL:CO] jumped 32% in early trading Monday, following positive results from a trial of its liver disease treatment. The Phase 2 trial of the survodutide drug helped 83% of adults with a form of liver inflammation. The drug has also “demonstrated efficacy” as an obesity treatment, and is currently undergoing five Phase 3 trials, reported CNBC. The US Food and Drug Administration has given it a fast-track designation.

Li Auto’s Powerful Q4

Li Auto [LI] reported total revenues of RMB41.7bn in Q4 2023, an increase of 136.4% on the year-ago quarter. Total deliveries for the quarter were at 131,805 vehicles, a 184.6% increase. BYD [1211:HK], for its part, is showing off several new models at the Geneva car show this week, among them a sport utility vehicle that can float on water. The electric vehicle giant is aggressively courting the European market.

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