TheChek News Flow

Gapping down
In reaction to earnings/guidance:

Other news:

Select metals/mining stocks trading higher:

Other news:

The partnership is a Layer 3 network solution that simplifies and automates high-speed, private connectivity between the two biggest cloud providers. This generally commoditizes cross-cloud networking, which is negative for specialized networking companies, and removes friction for cloud-agnostic SaaS platforms, which is positive.

🟢 Companies with a Positive or Neutral/Beneficial Impact

Company	Quoted Symbol (If Applicable)	Impact Summary	Rationale
Amazon Web Services (AWS)	AMZN	Positive (Core Strategy)	One of the two primary providers creating the solution. It simplifies multicloud adoption for its customers, locks in their platform as part of the primary multicloud network, and removes a major customer pain point.
Google Cloud	GOOG, GOOGL	Positive (Core Strategy)	The other primary provider and collaborator. It strengthens their Cross-Cloud Network solution, helps them compete for enterprise multicloud adoption, and removes complexity that could otherwise drive customers to a single-cloud approach.
Snowflake	SNOW	Positive (Business Enabler)	A major SaaS data platform that is inherently multicloud (Snowgrid). The partnership removes infrastructure friction, making it easier and potentially cheaper for their customers to move and share data across AWS and Google Cloud. This validates and strengthens Snowflake's core multicloud value proposition.
Salesforce	CRM	Positive (Early Adopter)	Quoted as an early user of the new approach. As a large SaaS vendor that runs on multiple clouds, the simplified, high-speed interconnection makes its multicloud/multi-region operations and data replication more seamless and reliable.
Microsoft Azure	MSFT	Neutral to Future Positive	While not a current partner in the preview, the collaboration is built on an open specification designed to be adopted by others. If Azure joins (as expected by some analysts), it would simplify connections for customers of the entire "Big 3" cloud ecosystem, solidifying Azure's place in the multicloud fabric.

🔴 Companies with a Negative Impact

Torbjörn Törnqvist will hand over his company to US head Gary Pedersen

Torbjörn Törnqvist, the Swedish billionaire who runs Swiss commodities trader Gunvor, will exit the company after agreeing to a management buyout led by its US head Gary Pedersen.

Törnqvist, 72, owns 86 per cent of Gunvor, which said it had an equity value of $6.6bn earlier this year. 

No financial details were given by Gunvor in relation to the deal, but the company said Törnqvist would sell “the entirety of his holdings” to a group of current employees and that there would “continue to be no outside ownership or interests”.

For the past month, Gunvor has been reeling from the fallout of an audacious, and unsuccessful, attempt to buy $22bn of international assets from sanctions-hit Russian oil company Lukoil. Gunvor scrapped its bid after the US moved to block the deal.

The deal would have transformed the Swiss trader, but in the end only served to renew long-held suspicions about Törnqvist’s ties to the Kremlin. The Swede co-founded Gunvor with Gennady Timchenko, a close ally of Russian President Vladimir Putin, who was hit with sanctions in 2014.

Törnqvist bought out his partner at that point and has tried to distance Gunvor from Russia. Responding to the attempt to buy Lukoil’s business, the US Treasury described Gunvor as a “Kremlin puppet” on social media platform X.