Here are the NZX-listed companies with the biggest gains on Friday.
Synlait Milk (NZE:SML): +5%, NZ$0.39
Winton Land (NZE:WIN): +2%, NZ$1.13
Bankers Investment Trust (NZE:BIT): +2%, NZ$3.52
Tourism Holdings (NZE:THL): +2%, NZ$2.91
Vulcan Steel (NZE:VSL): +2%, NZ$6.68
Serko (NZE:SKO): +2%, NZ$1.68
T&G Global (NZE:TGG): +2%, NZ$2.25
Ventia Services Group (NZE:VNT): +2%, NZ$7.37
Napier Port Holdings (NZE:NPH): +2%, NZ$3.68
Michael Hill International (NZE:MHJ): +1%, NZ$13.45
US equity indexes were mixed Wednesday as SpaceX (SPCX) and Advanced Micro Devices (AMD) stocks declined, while Iran and Oman agreed on a proposed route through the Strait of Hormuz.* Iran said it has reached an agreement with Oman on shipping through Hormuz, Bloomberg reported.* The Institute for Supply Management's US services index rose to 54.1 in July from 54.0 in June, compared with expectations for 54.5 in a Bloomberg survey.* The S&P Global US services index was revised upward to 54.6 in July from the 53.6 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg.* September West Texas Intermediate crude oil fell $0.60 to settle at $75.18 per barrel, while September Brent crude, the global benchmark, was last seen up $0.10 at $79.46.* Nvidia (NVDA) shares rose 3.4%, one of the top gainers on the Dow and Nasdaq, after Space Exploration Technologies CEO Elon Musk said the company will build AI services exclusively on Nvidia's products.* SpaceX shares fell 14%, the biggest drop on the Nasdaq, after the company reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year earlier.* AMD shares fell 7% even after fiscal Q2 results topped the market consensus.
(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as declines in heavyweight communication services names restrained the Nasdaq Composite, and amid reports that Iran and Oman have agreed on a proposed route through the Strait of Hormuz, the chokepoint for about a fifth of global oil and natural gas flows.The Nasdaq Composite fell 0.6% to 26,415.2, and the S&P 500 was little changed at 7,736.9 ahead of Wednesday's close. The Dow Jones Industrial Average rose 0.7% to 54,451.1.SpaceX (SPCX) reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year ago, taking the shine off a narrower-than-expected loss and above-consensus revenue growth. Shares slumped 13%, the worst performer on the Nasdaq.Alphabet's (GOOG, GOOGL) Google announced new roles for DeepMind Chief Executive Demis Hassabis as part of a reshuffle amid the departure of Chief Scientist Jeff Dean. Hassabis will become chairman of Google DeepMind and assume the role of chief scientist at Alphabet, per Wednesday memos from Alphabet CEO Sundar Pichai and Hassabis. Shares of the search giant dropped 4.2%, among the worst performers on the Dow, the S&P 500, and the Nasdaq.Shares of Advanced Micro Devices (AMD) dropped 6.9%, one of the steepest decliners on the Nasdaq, after analysts, in a post-earnings conference call late Tuesday, raised questions about the chipmaker's gross margin trajectory. The company reported fiscal Q2 adjusted earnings and revenue above market expectations, and Q3 sales guidance beat consensus.The pace of data center AI ramp is "very important because, from [a] revenue opportunity perspective, we see [a] large incremental revenue opportunity from data center AI," AMD Chief Financial Officer Jean Hu said on the call, according to a FactSet transcript. "Once it ramps, not only [will] it add tremendous revenue for the company, but also gross profit, even though the gross margin is slightly below corporate average."Meanwhile, Iran said it has reached a deal with Oman on a proposed shipping route through the Strait of Hormuz, a potential step toward a reopening of the waterway for energy supplies, Bloomberg reported Wednesday.A joint statement from the two countries is in the final drafting stage, Iran's foreign ministry spokesman Esmail Baghaei was cited as saying Wednesday, Bloomberg reported. Talks between Iran and Oman are "forward-moving," and an agreement would be struck "if certain third parties do not obstruct this process," Baghaei was cited as saying, according to the report.A proposed deal between Iran and Oman to help end five months of war between Iran and the United States would give Tehran control over ships entering the Gulf through the Strait, a senior Iranian source and two regional officials told Reuters, one of the biggest concessions yet to Iran.The front-month US West Texas Intermediate crude oil slipped 0.7% to $75.26 a barrel, and global benchmark North Sea Brent rose 0.2% to $79.55 a barrel.
(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes traded mixed amid a sharp sell-off in communication services and reports that Iran and Oman have agreed on a proposed shipping route through the Strait of Hormuz, the chokepoint for about a fifth of global oil and natural gas flows.The Nasdaq Composite fell 0.6% to 26,444.8, and the S&P 500 slipped 0.1% to 7,727.6 after midday Wednesday. The Dow Jones Industrial Average rose 0.8% to 54,511.2. Both the S&P 500 and the Dow scaled new peaks for a second straight day earlier in the session.Communication services, energy and utilities led decliners. Materials and healthcare topped gainers.Iran said it has reached a deal with Oman on a proposed shipping route through the Strait of Hormuz, a potential step toward a reopening of the waterway for energy supplies, Bloomberg reported Wednesday.A joint statement from the two countries is in the final drafting stage, Iran's foreign ministry spokesman Esmail Baghaei was cited as saying Wednesday, Bloomberg reported. Talks between Iran and Oman are "forward-moving," and an agreement would be struck "if certain third parties do not obstruct this process," Baghaei was cited as saying, according to the report.The front-month US West Texas Intermediate crude oil slipped 0.4% to $75.48 a barrel, and global benchmark North Sea Brent edged up 0.1% to $79.44 a barrel.SpaceX (SPCX) reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year ago, taking the shine off a narrower-than-expected loss and above-consensus revenue growth. Shares slumped 8%, among the worst performers on the Nasdaq.Shares of Advanced Micro Devices (AMD) dropped 5.5%, one of the steepest decliners on the Nasdaq, after analysts, in a post-earnings conference call late Tuesday, raised questions about the chipmaker's gross margin trajectory. The company reported fiscal Q2 adjusted earnings and revenue above market expectations, and Q3 sales guidance beat consensus.