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AMD Cuts Radeon RX 7900 XT Price to $709 to Rival NVIDIA

AMD (NASDAQ:AMD) has unveiled a significant price reduction for its Radeon RX 7900 XT graphics card, positioning it more competitively against NVIDIA (NASDAQ:NVDA)’s offerings. Originally priced at $899, the graphics card will now be available at a promotional rate of $709, with a post-promotion price settling at $749.

Featuring 16 GB of VRAM and advanced cooling features, the Radeon RX 7900 XT is an appealing choice for both gamers and professionals. This strategic pricing adjustment comes in response to NVIDIA’s RTX 4070 SUPER, which is priced at $599.

Those interested in the RX 7900 XT can discover the new pricing through selected online retailers. Certain purchases may require a promotional code to access the discounted rate. AMD’s partners, including ASRock, Sapphire, PowerColor, and XFX, offer custom variants of the graphics card, contributing to its enhanced cooling capabilities.

Market Movers

Wednesday night saw US stock futures trading within a narrow range, with retail sales data influencing indices downward in the regular session. By 6:50 pm ET (11:50 pm GMT), Dow Jones Futures and S&P 500 Futures remained flat, while Nasdaq 100 Futures experienced a marginal 0.1% slip. In extended trading, Discover Financial Services (NYSE:DFS) faced a 10.2% dip after reporting Q4 EPS of $1.54, falling short of the expected $2.53, with revenues at $4.2 billion versus the anticipated $4.11 billion.

Similarly, H B Fuller Company (NYSE:FUL) dropped 1.8% following its Q4 EPS of $1.32, missing the expected $1.27, and revenues of $903 million compared to the forecasted $930.59 million.

Looking ahead, economic data on Thursday morning will include weekly jobless claims, housing starts, and building permits, with Raphael Bostic, President of the Atlanta Federal Reserve, scheduled to speak.

Notable companies reporting quarterly results include Taiwan Semiconductor Manufacturing (NYSE:TSM), Truist Financial Corp (NYSE:TFC), PPG Industries Inc (NYSE:PPG), and JB Hunt Transport Services Inc (NASDAQ:JBHT).

During the regular session on Wednesday, the Dow Jones Industrial Average fell 0.25%, the S&P 500 slid 0.56%, and the NASDAQ Composite lost 0.59%. Investor concerns arose over a robust December retail sales report, raising doubts about the extent of Federal Reserve rate cuts.

The CME FedWatch Tool indicates a 56% probability of a quarter percentage point rate cut in March. Meanwhile, United States 10-Year rates were at 4.107%, with Dow futures showing steadiness as stronger data tempered market sentiment.

Goodyear Set to Name Stellantis Executive Mark Stewart as CEO Amidst Pressure from Activist Investor Elliott

Goodyear Tire & Rubber Co is poised to appoint Stellantis (NYSE:STLA) executive Mark Stewart as its new CEO, responding to pressure from activist investor Elliott Investment Management L.P., according to Bloomberg News on Wednesday.

The announcement of Stewart’s appointment is expected as early as this week, sources familiar with the matter revealed. The search for a new CEO was reportedly unaffected by any settlement with activist investor Elliott, the report added.

Neither Goodyear nor Elliott immediately responded to Reuters’ requests for comment.

In the previous year, the company announced the retirement of its longtime CEO Richard Kramer in 2024 and unveiled business streamlining initiatives, months after reaching a settlement with Elliott in May.

Elliott’s significant investment positioned it as one of Goodyear’s major investors, prompting the firm to advocate for board refreshment, store divestment, and an operational review.

Investing is like planting a garden in the financial landscape; you carefully choose your seeds, nurture them with patience, and watch them grow into a lush portfolio. It’s not about predicting the weather, but rather preparing for different seasons. In the world of investments, diversification is your green thumb, and risk management is your hedge against market storms. So, grab your watering can of knowledge, sprinkle some research, and let the fruits of compound interest bloom in your financial backyard. After all, in the garden of wealth, the only thing that grows faster than your investments is your sense of accomplishment.