Check Point Software stock rises after unveiling AI-focused security update

Investing.com -- Rubico Inc. (NASDAQ:RUBI) stock tumbled 8.5% on Thursday after the shipping transportation services provider announced it had entered into a letter of intent for the potential acquisition of a newbuilding mega yacht from Top Ships Inc.

The company disclosed plans to make a $4 million advance cash payment toward the potential purchase of the M/Y Sanlorenzo 1150Exp, a 60-meter yacht with a gross tonnage of 1,150 tons. The vessel, which can accommodate 12 guests and 15 crew members, is expected to be delivered in the second quarter of 2027.

According to the announcement, Rubico’s exclusivity period under the letter of intent will expire on March 31, 2026. The company emphasized that it will conduct due diligence and evaluate market conditions before finalizing any transaction, noting that there is no guarantee the acquisition will be completed.

A special independent committee composed of independent board members will negotiate and approve any potential acquisition pursuant to the letter of intent. The $4 million advance payment would be credited against the acquisition price or refunded if Rubico decides not to purchase the yacht.

Rubico, which specializes in vessel ownership, did not disclose the total expected purchase price of the yacht or how the potential acquisition would align with its core shipping transportation business.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Target is testing new fulfillment strategies for overnight delivery of online orders as the major retailer works to reverse a multiyear sales decline, The Wall Street Journal reported.

In Chicago, Target has stopped fulfilling ship-to-home online orders from its busiest stores. The company opened a new facility in Cleveland specifically designed for overnight deliveries. In San Diego and other markets, the retailer is utilizing gig workers to handle delivery of certain packages.

These initiatives are part of Target’s broader effort to reduce shipping expenses, deliver products faster, and enhance the in-store shopping experience amid competition with Walmart and Amazon.com.

Gretchen McCarthy, Target’s chief supply chain and logistics officer, explained that the company aims to provide customers with multiple delivery options, including curbside pickup and next-day delivery in traditional brown shipping boxes.

"I’ll speak for myself, I use different methods of fulfillment based on what I need," McCarthy said in an interview with The Journal. "We believe there’s a use case for same-day delivery, there’s a use case for drive-up, there’s a use case for ship-to-home brown box, and, of course, the bread and butter of our business, there is a use case for people coming into our stores."

The retailer is working to balance efficient order fulfillment with maintaining an optimal in-store experience for shoppers who visit Target locations in person.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- A bipartisan group of U.S. senators plans to introduce legislation Thursday that would block Nvidia from selling its most advanced chips to China for 30 months, according to the Financial Times.

The Secure and Feasible Exports Chips Act would require the commerce secretary to deny export licenses for advanced chips to China during this period. The bill would specifically prevent Nvidia from selling its H200 and Blackwell chips to Chinese customers.

Republican Senator Pete Ricketts, chair of the Senate foreign relations east Asia sub-committee and co-sponsor of the legislation with Democratic Senator Chris Coons, emphasized that U.S. leadership in the artificial intelligence race with China largely stems from America’s "dominance of global compute power."

The bill comes as the White House is considering whether to permit Nvidia to export the H200 to China, a possibility that has raised concerns among some officials.

Additional senators backing the legislation include Republicans Tom Cotton and Dave McCormick, along with Democrats Jeanne Shaheen and Andy Kim.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.