A model of an SK Hynix Inc. wafer at the SK AI Summit in Seoul, South Korea on Nov. 3. This year’s frenetic rally in global semiconductor stocks hit a setback on concerns that valuations for some of the biggest winners have soared too quickly and that gains have been excessive. Shares of Advanced Micro Devices Inc. were more than 4% lower in premarket trading Wednesday, after the chipmaker’s guidance failed to meet investors’ high expectations. AMD’s results followed a 4.1% decline in the Philadelphia Se ...

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Spotify.Getty Images Good morning! Here is the latest in trending:Stretched valuations: The market pullback has gone global following warnings from Wall Street CEOs. Bitcoin (BTC-USD) has also entered bear market territory, while ether (ETH-USD) erased its YTD gains.Day 36: The U.S. government shutdown has become the longest on record, however, odds suggest the end could be near.New missile c ...

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Core Viewpoint - Nvidia stock experienced a decline on Wednesday, reflecting a broader trend of losses among companies exposed to AI [1] Group 1 - Nvidia's stock drop indicates a negative sentiment in the market for AI-related companies [1] - The overall performance of AI-exposed companies is suffering, suggesting potential challenges in the sector [1]

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Core Insights - Afore Insurance Services has completed the acquisition of Salzberg Insurance Agency, which has a long-standing history of 87 years in providing commercial and personal insurance in Norfolk, Virginia [1] - The integration of Salzberg Insurance into Afore's Mid-Atlantic operations will be facilitated through BCA Insurance, the regional platform partner [1] Company Operations - The existing leadership and staff at Salzberg will remain in place, continuing to serve local customers while leveraging Afore's resources, including carrier partnerships and technology systems [2] - Ralph Soussan, principal of Salzberg Insurance Agency, emphasized the commitment to preserving local heritage and enhancing client relationships while gaining access to Afore's national resources [2] Strategic Vision - Afore was chosen as a growth partner due to shared values and vision, with plans to expand by adding new personnel and offices throughout Virginia [3] - Afore CEO Michael A Garguilo expressed delight in welcoming the Salzberg team, acknowledging their legacy in Norfolk and the Hampton Roads region [3] Future Plans - This acquisition marks the first of several planned by Afore in Virginia and the Mid-Atlantic region, with additional agency acquisitions expected soon [4] - Earlier in July, Afore also acquired TailoredRisk Insurance Advisors, a Florida-based personal lines agency, indicating a broader strategy for regional expansion [4]

British consumers are bracing for higher taxes from the upcoming budget and the finance minister's recent warning of shared pain to come risks weighing on key Christmas demand, the boss of retailer Ma... ...

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