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Wells Fargo Maintains an “Overweight” rating on ON Semiconductor Corporation (ON)

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Wells Fargo Maintains an “Overweight” rating on ON Semiconductor Corporation (ON)


ON Semiconductor Corporation (NASDAQ:ON) is among the 10 Best EV Stocks to Invest In According to Hedge Funds.

On June 9, Wells Fargo raised its price target on ON Semiconductor Corporation (NASDAQ:ON) to $140 from $115. The analyst maintained an “Overweight” rating on the shares. It also noted the emergence of “physical AI,” pointing to humanoid robotics as a potential long-term growth driver for analog and mixed signal chipmakers. The firm estimated a $1.6 billion semiconductor opportunity by 2030 linked to that trend.

That same day, ON Semiconductor Corporation (NASDAQ:ON) announced the launch of GaNEXUS. It is a gallium nitride power portfolio designed to improve efficiency and power density across artificial intelligence data centers, robotics, and energy infrastructure applications. The company said its GaNEXUS FETs, from 40V to 650V, are now sampling and include integrated protection features to simplify system integration and improve reliability.

The corporation stated that the platform delivers faster switching speeds, lower losses, and high thermal performance. When paired with its Treo platform, it enables more solid system-level power solutions.

Wells Fargo Maintains an “Overweight” rating on ON Semiconductor Corporation (ON)

Photo by JESHOOTS.COM on Unsplash

ON Semiconductor Corporation (NASDAQ:ON) works in the provision of intelligent power and sensing solutions with a primary focus on automotive and industrial markets. It operates through Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group segments.

While we acknowledge the potential of ON as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy

Disclosure: None. Follow Insider Monkey on Google News.



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Sony industry starmaker Clive Davis, who brought up Janis Joplin and Whitney Houston, dead at 94

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Sony industry starmaker Clive Davis, who brought up Janis Joplin and Whitney Houston, dead at 94

Clive Davis, the record company lawyer who became one of the music industry’s most powerful figures, launching or resurrecting the careers of such superstars as Janis Joplin, Whitney Houston, Carlos Santana and Alicia Keys, has died, his family confirmed. He was 94.

Earlier this year, Davis was hospitalized following an upper respiratory issue and was released a few days later. His death, in his Manhattan apartment, was confirmed by his publicist Aliza Rabinoff, who also shared a statement from his family.

“To the world, our father was the iconic music legend whose vision, instincts, and relentless pursuit of excellence shaped the soundtrack of countless lives. He discovered, mentored, and championed the greatest artists in modern music history, leaving an indelible mark on culture that will endure for generations,” the statement read.

Unlike other record moguls whose influence waned as they got older, Davis’ might only seemed to grow over his career, which spanned multiple genres and labels. Into his 80s, he was directing the careers of everyone from Barry Manilow to “American Idol” winners Carrie Underwood and Kelly Clarkson.

His success stories were staggering, with Houston a crowning achievement and devastating tragedy: Davis signed her to his Arista record label when she was just a teen and turned her into America’s reigning pop princess.

Houston racked up multiple No. 1 hits and became one of the top-selling artists in pop history before drug abuse hobbled her career. She died in a Los Angeles hotel room in 2012, just hours before she was to appear at the annual pre-Grammy Awards gala hosted by Davis, who had been convinced she was turning her life around.

“Maybe I should have been more skeptical,” Davis wrote in his 2013 memoir, “The Soundtrack of My Life,” “but I’ve always been optimistic, and I felt hopeful. It felt like old times.”

He also launched the career of multi-platinum, multiple-Grammy winner Keys — and was quick to note other talents he signed, including Joplin and Billy Joel, Blood Sweat & Tears and other “all-timers,” as he so often put it.

“I signed Patti Smith, the great Renaissance woman … I signed Lou Reed … I signed the Grateful Dead,” he proudly touted in an interview with The Associated Press in 1999.

But Davis didn’t simply have an eye for new talent — he also knew how to keep veterans relevant decades after their first hit. Aretha Franklin, whose legend was made at Atlantic Records, flourished in her later years at Arista, as did Luther Vandross, who made his last albums for another Davis label, J Records.

It was Davis who conceived of the 1999 album “Supernatural,” which paired guitar god Santana with some of the day’s hottest talents. The record won a record-tying eight Grammys and gave Santana more success than he had ever enjoyed in his decades-long career.

He had middle aged star Rod Stewart trade in his rock hits for standards from “The Great American Songbook.” The album, released in 2003, sold millions and was so successful it spawned four titles in all.

Davis didn’t always make the right choices; he turned down a chance to sign up Meatloaf. And he and his collaborators didn’t always agree. He and producer David Foster fought bitterly over the arrangement for Houston’s all-time hit, a cover of Dolly Parton’s “I Will Always Love You.”

And Manilow strongly objected to recording “I Write the Songs,” noting that he didn’t even write the song, a Bruce Johnston ballad that became a signature hit for Manilow, who would have similar latter-day success mining the music of the 1950s, 60s and ’70s.

“He’s just brilliant at picking ideas he thinks the public will connect,” raved Manilow, who had worked with Davis since he was a budding singer at Columbia Records.

Davis also had his struggles. Though he became president of Columbia Records in 1967 after joining the label in 1960 as a lawyer, by 1973 he was gone in a bitter fallout. The label accused him of mismanagement of funds and he was fired. Although Davis says he was later cleared, it wasn’t the end of his problems; he later was indicted on tax evasion charges, pleaded guilty to one count and had to pay a $10,000 fine.

However, Davis would declare victory: He says Columbia gave him the money to start Arista to resolve the dispute, and the label would become a huge success with artists like country superstars Brooks & Dunn, sassy R&B group TLC, Babyface, Houston, Franklin and others.

The label had huge success with a debut act — Milli Vanilli. But the male pop duo would become the embarrassment of the industry when, after winning a Grammy, it was revealed that they weren’t actually singing their songs (Davis blamed the debacle on the label’s European division, which he said signed them; the group was later stripped of its best new artist Grammy).

In 1999, as Arista was celebrating its 25th anniversary, Davis faced another crisis: The label’s then-parent company, BMG Entertainment, a division of German media conglomerate Bertelsmann, wanted him to retire; most of its executives were eased out by 60, and Davis was in his mid-60s.

In 2000, despite support from his superstar roster, the company ousted him in favor of producer and songwriter Antonio “L.A.” Reid, who would later become chairman of Island/Def Jam.

However, instead of severing its ties with Davis, BMG helped him launch J Records in what BMG has described as the largest record company startup ever created. Vandross was one of his initial artists, along with forgettable acts like the boy-band O-Town.

J Records was a success from the start, though, and only grew in stature with the arrival of a young singer named Keys, a piano-playing singer-songwriter with powerful pipes and dramatic R&B songs. Keys’ albums would go on to sell millions and win several Grammys.

His influence grew even more when Davis was tapped for BMG’s U.S. division.

He became a key backer of the careers of the winners of “American Idol,” guiding many albums to platinum status. The show’s link to Sony BMG came through a deal between Davis and 19 Recordings Unlimited, the label managed by “Idol” creator Simon Fuller.

In 2007, however, Davis disagreed with the direction of Clarkson’s “My December,” and she publicly criticized him. The album was a flop, and she later apologized.

In 2008, Sony BMG replaced Davis as chairman and chief executive officer of the BMG label group, giving him the title of chief creative officer.

Davis, who was born on April 4, 1932, had four children. In his memoir, he confirmed longtime rumors that he was bisexual and had been living with a man in recent years.

“Do I feel I could have been similarly attracted to a woman?” Davis wrote. “The answer is yes.”

His family shared a loving statement on Monday.

“Through every chapter of his remarkable life, family remained Clive’s greatest pride and deepest joy. Today, we celebrate not only a towering figure whose influence changed music forever, but the man who led our family with grace, generosity, and kindness. We will miss him greatly, cherish him always, and carry his love with us for the rest of our lives.”

—-

Former AP writer Nekesa Mumbi Moody was the main writer of this obituary.



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EigenCloud jumps 17% as Open Interest jumps – EIGEN can reach $0.35 IF…

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EigenCloud jumps 17% as Open Interest jumps – EIGEN can reach $0.35 IF…


EigenCloud [EIGEN] attracted strong trader interest after its price climbed 17.33% over the past 24 hours and reached $0.3058 at the time of writing. 

Trading activity expanded alongside the rally, with daily volume rising to $93.96 million, reflecting a 5.07% increase. 

The move stood out because EIGEN had spent several months trading inside a broad consolidation range before buyers pushed the asset above a key resistance zone. 

As a result, EIGEN emerged among the stronger performers across the market. 

The combination of rising price and growing trading activity suggested that buyers had actively supported the breakout rather than relying on thin liquidity conditions.

Leverage returns as traders increase exposure 

Open Interest [OI] climbed 24.13% and reached $67.27 million, showing that fresh capital entered the futures market as EIGEN advanced. 

The increase in Open Interest alongside a rising price often signals growing conviction among market participants because traders continue adding positions instead of reducing exposure. 

Such behavior indicated that speculative interest strengthened during the latest advance. 

While a sharp rise in leveraged positioning can increase volatility, the data suggested traders had remained engaged throughout the breakout. 

Continued growth in Open Interest would indicate sustained participation, whereas a decline could signal that traders have started locking in profits after the recent move higher.

Source: CoinGlass

Binance traders refuse to abandon bulls

Binance positioning data showed that top traders maintained a strong bullish bias despite the recent rally. 

Long accounts represented 66.69% of positions, while short accounts accounted for only 33.31%. 

This distribution produced a Long/Short Ratio of 2.00, indicating that bullish traders outnumbered bearish participants by a wide margin.

The chart also showed that long exposure had remained dominant for most of the observed period, even during temporary pullbacks. 

That trend suggested experienced traders continued anticipating additional upside rather than preparing for a deeper correction. 

Although crowded long positioning can sometimes increase liquidation risks, the current structure reflected sustained confidence in EIGEN’s direction. 

Should traders maintain these ratios, bullish sentiment would likely continue supporting price stability above recently reclaimed levels.

Source: CoinGlass

EIGEN breakout clears months of resistance

EIGEN delivered a decisive technical breakout after moving above the upper boundary of its long-standing range near $0.25. 

Price had traded inside a broad consolidation zone between approximately $0.15 and $0.25 for several months before buyers forced a move beyond resistance. 

That breakout pushed EIGEN toward $0.31 and established its highest level in weeks.

The technical structure showed a clear shift in market control because buyers successfully reclaimed an area that had repeatedly capped advances. 

The Relative Strength Index climbed to 74.96, placing EIGEN firmly in overbought territory. 

Such readings typically emerge when buying pressure accelerates and traders aggressively accumulate positions. 

The RSI moving average stood near 55.34, highlighting the strength of the recent advance relative to previous weeks.

If bulls maintain control above $0.25, attention could shift toward the next major resistance level around $0.35. 

Beyond that zone, the chart highlighted $0.45 as another notable target. 

However, losing the newly reclaimed support area could invite renewed selling pressure and place the breakout structure under scrutiny.

EIGEN price prediction EIGEN price prediction
Source: TradingView

Final Summary

  • EIGEN broke above range resistance as volume and trader participation increased.
  • Binance traders remained heavily long while RSI reflected strong buying pressure.

 



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Ethereum (ETH) news: talent exodus sparks fresh debate over foundation leadership

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Ethereum (ETH) news: talent exodus sparks fresh debate over foundation leadership

The departures also come as the foundation has unveiled a new strategic framework known as “CROPS,” an acronym standing for cypherpunk values, resilience, open-source development, permissionlessness and security. Foundation leaders presented the framework as a way to clarify the EF’s mission and reinforce Ethereum’s core values as the ecosystem becomes increasingly decentralized. Supporters viewed it as a reaffirmation of Ethereum’s founding principles, while critics argued it did little to address concerns about execution, organizational effectiveness and the network’s competitive position.

Among the most vocal critics was former Ethereum researcher Dankrad Feist, who suggested the recent spate of executive departures reflected deeper management issues rather than disagreements over strategy.

“The people who are leaving the Ethereum Foundation are CROPS believers,” Feist wrote on X. “The problem isn’t with the strategy, it’s with management.”

Feist’s comments were notable because they challenged the prevailing idea that recent departures stemmed from dissatisfaction with the foundation’s new direction. Instead, he argued that many of those leaving supported the CROPS vision itself, making the loss of talent a reflection of leadership shortcomings rather than ideological disagreements. “The exodus of talent is truly bearish for Ethereum, sadly,” he added.

Other community members echoed concerns about the Foundation’s internal dynamics. “It makes me sad to see the dysfunction at the Ethereum Foundation,” head of engineering at Coinbase Yuga Cohler wrote on X.



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Alphabet Sinks 6%, Amazon Slides 4% Amid AI Capex Anxiety Across the Hyperscalers

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Alphabet Sinks 6%, Amazon Slides 4% Amid AI Capex Anxiety Across the Hyperscalers


Quick Read

  • Alphabet sank 6% and Amazon slid 4% as combined 2026 hyperscaler capex tops $452 billion, raising fears AI monetization lags the buildout.

  • Meta Platforms and Microsoft shares also fell, while Alphabet’s Q1 free cash flow crashed 47% to $10 billion and Amazon’s trailing FCF collapsed 95%.

  • Google DeepMind talent losses to OpenAI and Anthropic flipped Alphabet’s Reddit sentiment from bullish 72 to bearish 32 within days.

  • Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Amazon didn’t make the cut. Grab the names FREE today.

Alphabet (NASDAQ:GOOGL) stock is down 6% in Monday midday trading, sliding to around $346. The selloff in Alphabet shares is the most prominent move among the hyperscalers today.

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Caught in the same theme, Amazon (NASDAQ:AMZN) stock is down 4% to around $234. Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT) shares are also lower, though by smaller margins.

The catalyst is growing investor unease over the sheer scale of AI capital spending across the hyperscalers. The selling is playing out against a broadly risk-off tape tied to geopolitical headlines out of Iran.

AI Capex Anxiety Sparks Hyperscaler Selloff

Alphabet guided 2026 capital expenditures to a range of $175 billion to $185 billion, while Amazon flagged about $200 billion in 2026 capex across the company. Combined with Microsoft, Meta Platforms, and Oracle (NYSE:ORCL), aggregate hyperscaler capex tops $452 billion for 2026.

Free cash flow is bearing the brunt. Alphabet’s Q1 2026 free cash flow fell 47% year over year (YoY) to $10.12 billion, while Amazon’s trailing free cash flow has dropped 95% to $1.2 billion. The bears worry monetization is lagging the buildout.

Alphabet-Specific Pressures

Alphabet stock is also feeling short-term pressure from a reported departure of a key Google DeepMind scientist, feeding concerns about AI talent retention. The r/stocks community has fixated on the theme, with a widely upvoted thread titled “Google loses two top AI researchers to OpenAI and Anthropic” drawing 470 upvotes and 231 comments by Monday morning.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Amazon didn’t make the cut. Grab the names FREE today.

Reddit sentiment on Alphabet currently reads 32 (bearish), a sharp reversal from bullish readings near 72 earlier in the week. The Alphabet stock dip is so far attracting only muted buyer interest.

Amazon Caught in the Crossfire

Amazon stock is moving on the shared capex theme. AWS grew 28% in Q1 2026 to $37.59 billion, its fastest pace in 15 quarters, yet Q1 capex hit $44.2 billion, up 77% YoY.

The Polymarket crowd is treating today’s move as a continuation. The market for “Amazon (AMZN) Up or Down on June 22?” prices a down close at 98% probability, while the most likely week-ending level for Amazon stock clusters near $232.

The bull case still rests on franchise strength. Amazon CEO Andy Jassy framed the spend as targeting “seminal opportunities like AI, chips, robotics, and low earth orbit satellites,” arguing for “strong long-term return on invested capital.”

What to Watch

The debate now centers on payoff timing. The bears argue that if AI revenue doesn’t scale quickly enough, operating margins compress and Alphabet stock and Amazon stock both face derating. Meanwhile, dip buyers counter that these are mega-cap, highly profitable franchises with durable cash flows, and one session of selling doesn’t redefine the longer-term arc.

Even with today’s drop, Alphabet shares are up 10% year to date (YTD), though Amazon shares are only up 1% YTD. Investors can watch for whether the lows hold into the close and whether a potential Gemini Pro release before month-end (61% odds) shifts the narrative on Alphabet stock.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Amazon didn’t make the cut. Grab the names FREE today.



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DEXE’s 7.50% fall breaks support, Chart points another 25% crash

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DEXE's 7.50% fall breaks support, Chart points another 25% crash


DeXe [DEXE] extended its bearish streak for a third straight day, reinforcing selling pressure, as the asset has lost its grip on the key $15.40 support level. 

At press time, DEXE was trading at $13.61, down 7.50% over the past 24 hours. Meanwhile, traders and investors have shown strong interest in the asset’s movement, as evidenced by DEXE’s trading volume, which surged 40% to $19.61 million.

Another factor that appears to be potentially contributing to DEXE’s decline is the activity of crypto exchange LBank. Recently, a crypto analyst shared a post on X, noting that LBank dumped a massive $1.68 million worth of DEXE tokens on Binance and may continue selling more tokens in the coming days. 

Now, the question is, what’s next for DEXE? Will the price continue to decline, or is a reversal possible?

DEXE chart eyes another 25% fall, but key level to watch 

According to the daily chart on TradingView, DEXE’s short-term outlook appears bearish, as it has lost the key $15.40 support level. The asset recently broke above this level and continued its upward trend; however, it eventually fell back below it, shifting market sentiment in favor of the bears.

DeXe (DEXE) price action
Source: TradingView

Based on the current price action, if DEXE remains below the $15.40 level, it could continue its downward trajectory. If that happens, the asset may experience a further decline of 25%, potentially reaching the $10.26 level in the coming days.

However, a price recovery would only become likely if DEXE reclaims the $15.40 level. If it does, the current bearish thesis could be invalidated.

As of now, the Average Directional Index (ADX) has risen to 38.41, well above the key threshold of 25, indicating that DEXE is experiencing a strong trend. Furthermore, this value reinforces the asset’s ongoing bearish momentum. 

Mixed sentiment among traders and investors 

While examining derivative data, it was observed that traders and investors currently have mixed sentiment toward DEXE.

Despite the price decline and the breakdown of a key support level, intraday traders continue to bet on long positions, according to data from CoinGlass. At press time, DEXE’s Long/Short ratio stood at 1.1487, indicating that traders remain bullish and are favoring long positions over shorts.

Meanwhile, $13.30 on the downside and $13.90 on the upside have emerged as the two major liquidation levels over the past 24 hours. In fact, traders have built $139.90K worth of long leveraged positions at the $13.30 level and $79.57K worth of short leveraged positions at the $13.90 level, indicating bulls domination. 

DEXE Exchange Liquidation MapDEXE Exchange Liquidation Map
Source: CoinGlass

However, investors and long-term holders appear to be doing the opposite of what intraday traders are doing. Data from DEXE’s spot inflow/outflow metrics reveals that over the past 24 hours, $410K worth of DEXE tokens have been transferred to exchanges, signaling potential selling pressure. 

DEXE Spot Inflow/OutflowDEXE Spot Inflow/Outflow
Source: CoinGlass

Final Summary

  • DeXe [DEXE] has declined 7.50% and fallen below a key support level. Price action suggests that another 25% drop could be on the horizon.
  • Despite continued price decline, trader sentiment remains bullish, with many betting on long, while investors appear to be following the trend by selling their holdings.



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Solana news: MoneyGram takes role validator role amid stablecoin payment push

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Solana news: MoneyGram takes role validator role amid stablecoin payment push

MoneyGram said Monday it has become a validator on the Solana (SOL) blockchain, the latest step in the remittance firm’s ongoing push into crypto infrastructure as it builds payment services around stablecoins.

By operating a validator, MoneyGram will help process transactions and secure Solana’s proof-of-stake network, becoming a key part of the infrastructure that keeps the network running.

The company also joined Solana Developer Platform, an initiative aimed at helping institutions build financial products on the blockchain.

The move comes weeks after MoneyGram unveiled its MGUSD stablecoin on the Stellar blockchain, a sign of the company’s growing commitment to blockchain-based payments infrastructure. After spending several years integrating crypto into remittances and settlement, MoneyGram is now taking a more active role in the networks that support those services.

“MoneyGram has spent the past several years integrating blockchain into our payment infrastructure, and everything we are building now leverages this foundation,” CEO Anthony Soohoo said in a statement. “We believe the future of global money movement will be built on open, interoperable stablecoin rails that anyone, anywhere can access.”



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