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Drug Manufacturer Stocks Saw...

Shares of AbbVie Inc. (NYSE: ABBV) rose over 1.03% in early trading session...

Consumer Electronics Stocks In...

GoPro, Inc. (NASDAQ: GPRO) jumps down over 10.14% to $5.81 in early trading...

Solar Stocks Revamp Position...

Array Technologies (NASDAQ: ARRY) plunged over 1.24% to $19.97 in early trading session...

Semiconductor Stocks in Bearish...

Shares of ON Semiconductor Corp. (NASDAQ:ON) dropped over 1.5% in early trading session...
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Russia Not Able to Restore Pipeline Flows to Europe Any Time Soon

The scarcity that threatens to plunge the continent into an energy crisis this winter will deepen if Russia doesn’t soon resume exporting natural gas to Europe via its Nord Stream 1 pipeline.

Gazprom, the state-owned energy company in Russia, announced on Friday that it would not restore pipeline flows on Saturday as scheduled because an oil leak had been discovered at its Portovaya compressor station. Since Wednesday, the pipeline has been closed for maintenance. A timeframe for when exports might start up again was not provided. It didn’t give a timeline of when exports might resume.

Gazprom stated in a statement that gas supplies to the Nord Stream gas pipeline have been stopped entirely until the problems with the equipment’s operation are fixed.

With nearly 35% of Europe’s total Russian gas imports last year, the Nord Stream 1 pipeline is a vital conduit for delivering Russia’s abundant gas supplies to Europe. It travels directly to Germany, the EU’s largest economy, which depends heavily on Russian gas to power its heavy industry and residential buildings. But ever since it invaded Ukraine in late February, Russia and Europe have been at odds over energy.

The news of the prolonged shutdown was announced on the same day that the major Western economies decided to cap the price of Russian oil in an effort to reduce Moscow’s ability to fund its war while containing global inflation. This could lead to nations denying funding or insurance for oil shipments.

Russia had previously vowed to react by forbidding the export of oil to nations that use price caps. The ongoing economic battle between Russia and the West has also been heavily influenced by the Nord Stream 1 pipeline.

Due to maintenance concerns and a dispute over a missing turbine that was hampered by Western export bans, Gazprom has reduced flows via Nord Stream 1 to just 20% of their maximum capacity since June.

Drug Manufacturer Stocks Saw in Stress: AbbVie (NYSE: ABBV), Amgen (NASDAQ:AMGN), AstraZeneca (NASDAQ:AZN), Bristol-Myers Squibb (NYSE: BMY)

Shares of AbbVie Inc. (NYSE: ABBV) rose over 1.03% in early trading session on Friday as patients in the United States will be able...

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Semiconductor Stocks in Bearish Trend: ON Semiconductor (NASDAQ:ON), Microchip Technology (NASDAQ: MCHP), Allegro MicroSystems. (NASDAQ:ALGM)

Shares of ON Semiconductor Corp. (NASDAQ:ON) dropped over 1.5% in early trading session on Friday as the firm is expected to report earnings that are higher year over year when it reports results for the quarter ended December 2022....

Chipmaker on Hotline: Intel Corporation (NASDAQ:INTC) Cutting Pay, Wolfspeed, Inc. (NYSE:WOLF), UMC (NYSE:UMC)

Intel Corporation (NASDAQ:INTC) inches up in pre trading session on Thursday as in last trading session shares surged over 2.87% to settle at $29.07 with 63.3 million volume of shares traded. The company and the University of California, San...

Tesla Inc. (NASDAQ: TSLA) May Result in Billions of Dollars in Damages on Musk Tweet Trial

Shares of Tesla Inc. (NASDAQ: TSLA) rose 1.65% in pre trading session on Wednesday as investors lost $12 billion over the course of 10 days as a result of Elon Musk's well-known tweet in 2018 that he had "funding...

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