Stocks fell on Friday as investors digested a slew of earnings reports and a new consumer spending report.

The S

Intel to buy GlobalFoundries for $30 billions.

The Wall Street Journal reported on Thursday that Intel Corp is in talks to buy semiconductor manufacturer GlobalFoundries Inc for around $30 billion. The agreement could help Intel ramp up chip production at a time when demand is high, and the company is looking to start producing chips for automakers.

Ericsson has stated that it will no longer rely on previously anticipated contract wins in China for 5G tenders.

Swedish telecoms company has previously warned that its operations in China could be jeopardized by Sweden's decision to ban Chinese equipment giant Huawei. Ericsson currently generates slightly less than 10% of its revenue in China. Its stock is down more than 8% today.

On Thursday, Taiwan Semiconductor Manufacturing Co. released its second-quarter earnings.

Revenue increased 20% year on year to NT$372.15 billion in the second quarter. The figure was already known because TSMC releases its revenue figures every month.

For the quarter ended June 30, TSMC's net profit increased 11% year on year to 134.36 billion Taiwan dollars (US$4.80 billion). This was slightly lower than the NT$135.81 billion estimate of analysts polled by S

Netflix enters gaming business.

According to Bloomberg, Netflix (NASDAQ: NFLX) has hired former Facebook gaming executive Mike Verdu as vice president of game development, reporting to Chief Operating Officer Greg Peters.

Netflix plans to offer streaming videogames within the next year, and the company will not charge a premium for the content.

Netflix shares are down about 1.5% and GameStop is down 1.9 percent.

The Nasdaq is down 1.15%.

Moderna (NASDAQ:MRNA) shares were up more than 4 percent while the broader markerts fell about 1 percent on Thursday,

setting a new high for the stock. The increase came after Jefferies analyst Michael Yee raised his price target on the stock from $170 to $250.

In addition, Dr. Marco Cavaleri, the European Medicines Agency's (EMA) head of biological health threats and vaccine strategy, stated in a press conference that a committee would most likely finalize a decision on recommending authorization for Moderna's COVID-19 vaccine in children by the end of next week.

Google is expanding its cloud infrastructure in India

by establishing a second cluster of data centers in and around New Delhi. The new infrastructure will aid in the resolution of issues such as disaster recovery within India. It invested $4.5 billion in Jio Platforms, the digital division of Indian conglomerate Reliance Industries, last year.

Aurora Innovation, a driverless technology startup, has agreed to go public through SPAC.

Aurora's equity value in the deal is $11 billion, and the combined company is worth $13 billion. In late 2023, the company expects to launch its first autonomous product, for trucks. Aurora is concentrating its initial efforts in Texas, which transports the most freight by truck than any other state.

Amazon announced the release of HealthLake today.

HealthLake is a service for healthcare and life sciences organizations to ingest, store, query, and analyze their health data at scale. Amazon HealthLake uses machine learning to understand and extract meaningful medical information from unstructured data. The service leverages the Fast Healthcare Interoperability Resources (FHIR) industry standard format.

Tesla (TSLA) CEO Elon Musk claims his company has a backlog of 80,000 orders for its Powerwall home solar-energy-storage system worth more than $500 million.

However, Musk also stated that Tesla will only be able to produce 30,000 to 35,000 Powerwalls this quarter. Due to a global chip shortage, the company claims it is unable to ramp up production to meet demand.

Tesla stock is down about 1% as of 12PM PST on Wednesday.