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FINWIRES

Top Midday Gainers

-- Axe Compute (AGPU) said Wednesday it has received a $260 million enterprise infrastructure contract to deploy 2,304 Nvidia (NVDA) B300 graphics processing units and storage infrastructure in a US tier 3 data center.

Shares surged 88% as intraday trading volume soared to over 74.8 million from a daily average of about 1.92 million.

GE Vernova (GEV) reported on Wednesday a year-over-year jump in Q1 earnings and revenue, and raised its annual revenue forecast.

Shares advanced 13%, with intraday trading volume rising to over 3.12 million from a daily average of roughly 2.64 million.

Toro (TORO) declared a special dividend of $0.90 a share, payable June 5 to stockholders of record on May 4.

Shares soared 84% to $7.31 after midday, with intraday trading volume climbing to over 14.7 million from a daily average of about 55,000.

Price: $9.02, Change: $+4.14, Percent Change: +84.73%

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TSMC Rolls Out A13 Process Node, Plans Chip Packaging Expansion in Arizona

Taiwan Semiconductor Manufacturing (TPE:2330), or TSMC, launched its latest A13 process node, targeting rising demand from AI, high-performance computing, and mobile applications, according to a Thursday press release.The A13 chip is a smaller version of the A14 platform, reducing chip size by 6% while staying fully compatible for easier design transfer. It also improves performance and power efficiency, with mass production planned for 2029, the chipmaker said.TSMC also highlighted upcoming A12 and N2U upgrades, along with expanded advanced packaging technologies to support more powerful AI computing systems.According to a separate Reuters report, TSMC is set to open a chip packaging plant in Arizona by 2029, an executive ​told the news agency on Wednesday.

$TPE:2330
Equities

RBC Revises Price Target, Estimates for BP After Q1 Trading Update

RBC adjusted its price target and earnings forecasts for BP (BP.L), amid a model update to incorporate the oil and gas giant's first-quarter trading update and the research firm's revised commodity price deck."1Q trading update reflects stronger oil trading and modest uptick in macro. We update our estimates for BP's trading update, which reflects a significant working capital build from higher commodity prices, 'exceptional' oil trading and a small uplift in refining margins. Our updated EBIT/RCOP estimate is $6.09bn is ahead of consensus at $5.81bn and our updated net income estimate is $2.99bn is also higher than consensus at $2.67bn. Note that like with peers, the full effect of stronger commodity prices will be seen from 2Q onwards," analysts said Wednesday.As such, the research firm raised the sector perform-rated stock's price target to 7 pounds sterling from 6.40 pounds. The upgrade reflects the higher commodity price deck alongside an $80 per barrel long-term Brent assumption.Concurrently, RBC noted that investor focus is shifting to first-quarter results due on April 28, with comments from BP's new Chief Executive Officer Meg O'Neill to be "keenly watched." Analysts anticipate management to prioritize de-leveraging in the near term to fund future growth cycles, while a restart of a share buyback program is not expected.

$BP.L
Asia

ValueMax Group Issues Over 1.5 Million Shares on Exercise of Warrants

ValueMax Group (SGX:T6I) allotted and issued over 1.5 million shares on Thursday pursuant to the exercise of the same number of warrants at an exercise price of SG$0.36 each, according to a Thursday filing with the Singapore Exchange.Following the exercise, the company's share capital has increased to about 946.6 million shares, the filing said.

$SGX:T6I