Wire
Arm, SoftBank Said to Have Tried to Buy Cerebras Weeks Before IPO, Bloomberg Reports
Arm, SoftBank Said to Have Tried to Buy Cerebras Weeks Before IPO, Bloomberg Reports
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53 stories mentioning ARM
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Wire
Top Midday Decliners
Planet Fitness (PLNT) shares tumbled 32% after the company Thursday tempered its full-year outlook amid fewer-than-expected member additions in Q1.More than 12.7 million shares of the company traded intraday compared with a daily average of about 1.8 million.Zoetis (ZTS) reported Q1 adjusted earnings and revenue Thursday below market expectations, while scaling back its full-year 2026 guidance.Shares sank 20% following a surge in intraday trading volume to over 22.4 million from a daily average of about 4 million.ARM (ARM) Chief Executive Rene Haas said, in an earnings call with investors, that while demand for ARM's new AGI CPU doubled to $2 billion within six weeks of its launch, the company has only secured enough manufacturing capacity to fulfill half of those orders.Shares dropped 10%, with intraday trading volume at over 18.9 million versus a daily average of about 7.4 million.Price: $43.38, Change: $-20.59, Percent Change: -32.18%
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Asia Markets
US Equity Indexes Give Up Gains as Iran Reportedly Unveils Plan to Charge Fee for Safe Hormuz Transit
US equity indexes fell midday Thursday, with the S&P 500 and the Nasdaq Composite giving up intraday gains after Iran reportedly created an agency to control shipping in the Strait of Hormuz before sending its response to Washington's proposal to restart peace talks.The Nasdaq slid 0.3% to 25,760.7 after touching a record 26,036.38 intraday. The S&P 500 retreated 0.5% to 7,326.7 after hitting an all-time high of 7,385.02 earlier in the session. The Dow Jones Industrial Average fell 0.7% to 49,545.5, extending declines.All sectors except technology fell, with energy, industrials, and utilities leading the decliners.Iran has created a government agency to vet and tax vessels seeking passage through the crucial Strait of Hormuz, an Associated Press report cited a shipping data company Thursday. Tehran has laid out a new set of rules for vessels seeking to transit through the Hormuz, a chokepoint to about 20% of global crude oil flows, according to a document seen by CNN.Entitled "Vessel Information Declaration," the document is an application form issued by Iran's newly created Persian Gulf Strait Authority, and it must be completed by all transiting vessels to ensure safe passage, CNN reported. The document was shared with CNN by the Lloyds List and another shipping industry source who wished to remain anonymous, according to the news report.The Trump administration is looking to restart an operation to guide commercial ships through Hormuz with naval and air support as early as this week, after Saudi Arabia and Kuwait lifted restrictions on US access to their bases and airspaces, The Wall Street Journal reported Thursday, citing Pentagon officials.Meanwhile, the Islamic Republic is reviewing messages from Pakistan, which is mediating peace negotiations with Washington, but Tehran "has not yet reached a conclusion, and no response has been given to the U.S. side," the Associated Press cited Iranian Foreign Ministry spokesperson Esmail Baghaei on state TV.West Texas Intermediate crude oil futures rose 1.8% to $96.81, while Brent crude futures slipped 0.4% to $100.83, off session lows when declines hit more than 3% each.US Treasury yields turned the corner, leaning higher after midday, compared with a move down across most of the maturities earlier in the session. The 10-year rose four basis points to 4.39%, and the two-year rate climbed 4.7 basis points to 3.92%.In precious metals, gold futures edged up 0.6% to $4,727.2, off session highs. Silver futures were up 4.1% to $80.49 but off highs of more than 5% earlier in the session.In economic news, employers in the US announced 83,387 job cuts in April, up 38% from March, Challenger, Gray & Christmas said Thursday. The two previous highs were 105,441 job cuts recorded in April 2025 and 671,129 in April 2020, the global outplacement firm added."Technology companies continue to announce large-scale cuts and are leading all industries in layoff announcements. They are also often citing AI spend and innovation. Regardless of whether individual jobs are being replaced by AI, the money for those roles is," said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.US initial jobless claims rose to 200,000 in the week ended May 2 from an upwardly revised 190,000 in the previous week, compared with expectations for 205,000 in a survey of analysts compiled by Bloomberg. The four-week moving average fell by 4,500 to 203,250.In company news, Datadog (DDOG) raised its full-year outlook after the software maker posted Q1 results above analysts' estimates. Shares surged 28%, the top gainer on the S&P 500 and the Nasdaq.ARM (ARM) Chief Executive Rene Haas said, in an earnings call with investors, that while demand for ARM's new AGI CPU doubled to $2 billion within six weeks of its launch, the company has only secured enough manufacturing capacity to fulfill half of those orders. Shares sank 10%, among the worst performers on the Nasdaq.
Dow JonesNasdaq CompositeS&P 500$ARM$DDOG
Wire
Morgan Stanley Adjusts ARM Holdings Price Target to $202 From $191
ARM (ARM) has an average rating of overweight and mean price target of $220.01, according to analysts polled by FactSet.Price: $214.10, Change: $-23.20, Percent Change: -9.78%
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Wire
ARM to Benefit From Agentic AI-Driven CPU Growth, RBC Says
ARM (ARM) is positioned to benefit from agentic artificial intelligence-driven CPU growth and there is room for upside potential as supply constraints ease, RBC Capital Markets said in a Thursday research note.The company has line of sight to more than $2 billion in AGI CPU revenue across fiscal 2027 and 2028, but it maintained its prior outlook because of wafer and memory supply constraints, according to the brokerage.In fiscal Q4, data center and cloud AI royalty revenue more than doubled from a year earlier on the ramp of ARM-based server chips across major hyperscalers. The data center segment is on track to become the company's largest business segment, analysts wrote.For fiscal 2027 and 2028, RBC said it now expects EPS of $2.18 and $3.12, respectively, from prior estimates of $2.01 and $3.03, according to the note.Growth in AI cluster sizes is also driving demand for networking, where ARM remains the dominant architecture. The company's 20% long-term growth rate for royalties is likely conservative, according to the note.RBC reiterated its outperform rating on the stock and boosted its price target to $260 per share from $175.Shares of ARM were down more than 9% in Thursday trading.Price: $215.08, Change: $-22.23, Percent Change: -9.37%
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Wire
Top Midday Stories: Citi CEO Fraser Gives New ROTCE Targets; Datadog Shares Soar After Strong Earnings, Bullish Guidance
The Dow Jones Industrial Average was down, while the S&P 500 Index and the Nasdaq Composite were up in late-morning trading Thursday, as oil prices fell below $100 on hopes that the US and Iran are nearing an agreement to end their war.In company news, Citigroup (C) Chief Executive Jane Fraser said Thursday at the bank's Investor Day that Citi expects its return on tangible common equity to hit a range of 11% to 13% in 2027 and 2028, up from 10% to 11% currently, before rising further to 14% to 15% from 2029 to 2031, according to a slide deck the company published. Citigroup shares were up 2.1% around midday.Datadog (DDOG) reported Q1 non-GAAP net income Thursday of $0.60 per diluted share, up from $0.46 a year earlier and above the FactSet consensus of $0.51. First-quarter revenue was $1.01 billion, up from $761.6 million a year ago and above the FactSet consensus of $960.1 million. For Q2, the company said it expects non-GAAP EPS of $0.57 to $0.59 on revenue of $1.07 billion to $1.08 billion. Analysts polled by FactSet expect $0.50 and $994 million, respectively. For full-year 2026, Datadog said it expects non-GAAP EPS of $2.36 to $2.44 on revenue of $4.30 billion to $4.34 billion, up from the previous guidance ranges of $2.08 to $2.16, and $4.06 billion to $4.12 billion, respectively. Analysts polled by FactSet expect earnings of $2.16. Datadog shares were up 29.6%.McDonald's (MCD) reported Q1 adjusted earnings Thursday of $2.83 per diluted share, up from $2.67 a year earlier and above the FactSet consensus of $2.74. First-quarter revenue was $6.52 billion, up from $5.96 billion a year ago and above the FactSet consensus of $6.47 billion. McDonald's shares were down 0.4%.Zoetis (ZTS) reported Q1 adjusted earnings Thursday of $1.53 per diluted share, up from $1.41 a year earlier but below the FactSet consensus of $1.60. First-quarter revenue was $2.26 billion, up from $2.20 billion a year ago but below the FactSet consensus of $2.30 billion. For full-year 2026, the company said it expects adjusted EPS of $6.85 to $7.00, down from its previous guidance of $7.00 to $7.10 and below the FactSet consensus of $7.03. The company also lowered its full-year 2026 revenue guidance to $9.68 billion to $9.96 billion from $9.83 billion to $10.03 billion previously. Analysts polled by FactSet expect $9.89 billion. Zoetis shares were down 22%.Arm (ARM) reported fiscal Q4 adjusted earnings late Wednesday of $0.60 per diluted share, up from $0.55 a year earlier and above the FactSet consensus of $0.58. Fiscal Q4 revenue was $1.49 billion, up from $1.24 billion a year ago and above the FactSet consensus of $1.47 billion. For fiscal Q1, the company said it expects adjusted EPS of $0.40, plus or minus $0.04, on revenue of $1.26 billion, plus or minus $50 million. Analysts polled by FactSet expect $0.37 and $1.25 billion, respectively. Arm shares were down 8.4%.Whirlpool (WHR) reported a Q1 adjusted loss late Wednesday of $0.56 per diluted share, swinging from adjusted earnings of $1.70 a year earlier and compared with the FactSet consensus of earnings of $0.38. First-quarter revenue was $3.27 billion, down from $3.62 billion a year ago and below the FactSet consensus of $3.44 billion. For fiscal 2026, the company said it expects adjusted EPS of $3 to $3.50, down from its previous guidance of $7 and below the FactSet consensus of $4.83. Full-year revenue is expected to be about $15 billion, down from its prior guidance of $15.30 billion to $15.60 billion and below the FactSet consensus of $15.26 billion. The company said the war in Iran has triggered a "recession-level industry decline in the US." Whirlpool shares were down 12.3%.Shake Shack (SHAK) reported breakeven fiscal Q1 adjusted earnings Thursday, compared with $0.14 per diluted share a year earlier and below the FactSet consensus of $0.12. Fiscal Q1 revenue was $366.7 million, up from $320.9 million a year ago but below the FactSet consensus of $372.4 million. Shake Shack also said it has appointed Michelle Hook as chief financial officer, effective May 11. Shares of the company were down 28.6%.Price: $130.33, Change: $+2.72, Percent Change: +2.14%
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Sectors
Sector Update: Tech Stocks Gain Pre-Bell Thursday
Technology stocks were higher pre-bell Thursday, with the State Street Technology Select Sector SPDR ETF (XLK) advancing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.5% higher.Alphabet (GOOG, GOOGL) shares gained by 1.2% before the opening bell after closing the prior session with a 2.8% increase. Bloomberg reported Thursday that Google has proposed changes to how it shows news results in its search engine to avoid further EU competition fines.Advanced Micro Devices (AMD) stock was down 1.8% pre-bell after closing the prior session with a 18.6% rise. The company overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.ARM (ARM) shares fell over 7% in premarket activity after CEO Rene Haas said, in an earnings call with investors, that while demand for ARM's new AGI CPU doubled to $2 billion within six weeks of its launch, the company has only secured enough manufacturing capacity to fulfill half of those orders.
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Asia Markets
Peace Deal Hopes, Strong Earnings Nudge US Equity Futures Higher Pre-Bell
US equity futures were slightly higher pre-bell Thursday as hopes for a finalized peace deal between the US and Iran continue, on top of a strong earnings season to date.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.A final peace agreement would end the conflict and reopen the Strait of Hormuz, President Donald Trump said in a Truth Social post on Wednesday. The White House had said it was nearing an agreement with Iran that would end the war and establish a framework for more detailed nuclear negotiations, according to an Axios report.However, Trump said Iran's acceptance of the US proposal would be "perhaps, a big assumption," and warned that bombing would resume "at a much higher level and intensity than it was before" if an agreement was not reached. An Iranian foreign ministry spokesperson told CNBC on Wednesday that Iran was evaluating the proposal.Traders absorbed the most recent round of earnings, with Shell (SHEL) and McDonald's (MCD) posting higher Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.3% at $96.96 per barrel and US West Texas Intermediate crude 4.9% lower at $90.45 per barrel.The weekly jobless claims bulletin, released at 8:30 am ET, showed 200,000 new unemployment claims for the week ended May 2, compared with the upwardly revised figure of 190,000 in the prior week, and it came in below the 205,000 expected, according to estimates compiled by Bloomberg. Q1 nonfarm productivity increased at a 0.8% annual rate, topping forecasts for 0.6%, while unit labor costs increased 2.3%, compared with the 2.5% expected.The February and March construction spending reports are due at 10 am ET.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack, and New York President John Williams are slated to speak today.In other world markets, Japan's Nikkei closed 5.6% higher, Hong Kong's Hang Seng ended 1.6% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, Tesla (TSLA) stock was up 1.9% after the company's China-made electric vehicle sales rose for the sixth consecutive month on a year-over-year basis, according to a Reuters report. DoorDash (DASH) shares rose 8.7% after the company posted Q1 earnings that topped analysts' consensus. Fortinet (FTNT) stock was up 17% after the company posted a stronger-than-expected jump in Q1 earnings and sales, as well as boosted its full-year 2026 guidance.On the losing side, Shell stock was down 1.8% after the company reported its Q1 financial results. ARM (ARM) shares fell 7% despite the company posting higher fiscal Q4 adjusted earnings and revenue.
Dow JonesNasdaq CompositeS&P 500$ARM$DASH$FTNT$MCD$SHEL$TSLA
Research
Research Alert: CFRA Maintains Hold Recommendation On Shares Of Arm Holdings Plc
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target to $250 from $180, on a higher revised P/E of about 90x our CY 27 EPS estimate of $2.79, above peers given growth prospects. After posting largely in-line Mar-Q results and Jun-Q guidance, we maintain our FY 27 (Mar.) EPS estimate at $2.18 and start FY 28 at $3.06. We believe that ARM's strategic expansion from a pure-play IP company into a silicon provider with the launch of the Arm AGI CPU in late March has the potential to significantly increase its market opportunity. This new product, aimed at the Agentic AI market, has seen explosive initial interest, with customer demand doubling to over $2 billion for fiscal years 2027 and 2028 since its announcement just weeks prior. Supply constraints could limit the trajectory of Arm AGI sales early on, but we think this initiative offers explosive growth potential in our out year estimates (CY 28 through CY 30). Despite $25B revenue and $9 EPS target by decade end, we think valuation (28x on a 2030 basis) already discounts much of this growth.
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Wire
Update: ARM Fiscal Q4 Adjusted Earnings, Revenue Rise; Q1 Guidance Set; Shares Decline Premarket
(Updates with the stock move in the last paragraph.)ARM (ARM) reported fiscal Q4 adjusted earnings late Wednesday of $0.60 per diluted share, up from $0.55 a year earlier.Analysts polled by FactSet expected $0.58.Revenue for the three months ended March 31 was $1.49 billion, up from $1.24 billion a year earlier.Analysts surveyed by FactSet expected $1.47 billion.For Q1, the company expects adjusted EPS of $0.40, plus or minus $0.04, on revenue of $1.26 billion, plus or minus $50 million. Analysts expect EPS of $0.37 on revenue of $1.25 billion.Shares of the company fell nearly 5% in Thursday's premarket activity.Price: $225.26, Change: $-11.80, Percent Change: -4.97%
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Research
Research Alert: Arm: Mar-q And Jun-q Largely In Line; Shift To Physical Cpus Key
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ARM posted Mar-Q revenue of $1.49B (+20% Y/Y), slightly beating the $1.47B expectation, with licensing revenue surging 29% to $819M and royalty revenue growing 11% to $671M. EPS of $0.60 beat the $0.58 expectation, while ACV increased 22% Y/Y to $1.66B. The Arm AGI CPU launch represents a strategic inflection point, with customer demand exceeding $2B in FY 27-FY 28, more than double initial projections, and Meta serving as lead partner. Jun-Q guidance came in ahead of expectations with revenue of $1.26B +/- $50M (vs. the $1.25B consensus) and EPS of $0.40 +/- $0.04 (vs. the $0.37 consensus). Data center momentum continues accelerating with ARM holding ~50% CPU share among top hyperscalers as major cloud providers deepen ARM integration, including Google's next-gen TPUs and AWS's $20B+ silicon business. ARM maintains a robust balance sheet with $3.6B cash and no debt, though operating margins compressed to 49.1% from 52.8% due to 33% R&D spending increases supporting next-generation compute technologies.
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Wire
Earnings Flash (ARM) ARM Posts Q4 Revenue $1.49B, vs. FactSet Est of $1.47B
Earnings Flash (ARM) ARM Posts Q4 Revenue $1.49B, vs. FactSet Est of $1.47B
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Wire
Advanced Micro Devices Set to Command Half of Growing Server CPU Market, BofA Says
Advanced Micro Devices (AMD) is expected to capture about half of the total addressable market for server central processing units, which the company expects will exceed $120 billion by 2030, BofA Securities said in a note emailed Wednesday.The chip maker's updated forecast for server CPU TAM is double its previous estimate amid rising agentic artificial intelligence demand, according to the brokerage.The server CPU market is now expected to grow more than 35% annually, reaching over $120 billion by 2030, AMD Chief Executive Lisa Su said late Tuesday during an earnings call, according to a FactSet transcript.The company previously expected market growth of 18% annually over the next three to five years.BofA expects AMD to capture a roughly 50% share of the server CPU market, with the remaining half split between rivals Intel (INTC) and Arm (ARM)."Rising CPU TAM is good for all CPU vendors, but we expect AMD to maintain/expand share on (the) back of broad portfolio, rising enterprise focus, continued cloud leadership and consistent roadmap execution," BofA analyst Vivek Arya wrote. "Separately, we expect AMD to potentially announce other large customers for GPUs for (2027) and beyond."Shares of AMD surged 18% in Wednesday afternoon trade.The company reported stronger-than-expected first-quarter results late Tuesday, as demand for AI infrastructure pushed data center revenue higher year over year."Inferencing and agentic AI are increasing the need for server CPU compute as these workloads require additional CPU processing for orchestration, data movement, and parallel execution in addition to serving as the head nodes for GPUs and accelerators," Su told analysts during the earnings call. "As a result, we are seeing both stronger near-term demand and deeper engagement with customers on long-term capacity planning."AMD currently represents about 6% of the AI TAM, and that figure is expected to grow toward double digits by 2030, Arya said.Still, AMD remains "exposed to uncertain share allocation between numerous OpenAI suppliers" including Nvidia (NVDA), Broadcom (AVGO) and Cerebras Systems, he said.Following AMD's first-quarter results, BofA raised the company's 2026 and 2027 pro-forma earnings per share estimate by 9% each to $7.28 and $11.80. The brokerage is projecting AMD's 2030 EPS potential at more than $27, above management's $20-plus target.BofA reiterated AMD's buy rating and lifted the price target to $450 from $310.Price: $417.82, Change: $+62.56, Percent Change: +17.61%
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US Markets
Equity Markets Rise Intraday, Oil Plunges Amid US-Iran Peace Deal Optimism
US benchmark equity indexes were higher intraday, while oil prices tumbled as investors reacted to reports saying that Washington and Tehran are nearing a potential agreement to end the war.The Nasdaq Composite was up 1.6% at 25,726 after midday Wednesday, while the S&P 500 advanced 1.1% to 7,339.3. Both indexes were on track for back-to-back record-high closings. The Dow Jones Industrial Average rose 1% to 49,792.1.Among sectors, industrials was outperforming with a 2.2% gain, while energy saw the steepest drop of 4.1%.West Texas Intermediate crude was down 6.6% at $95.57 per barrel, while Brent slumped 7% to $102.20.The US is nearing a deal with Iran on a one-page memorandum of understanding to end their conflict in the Middle East and establish a framework for more detailed nuclear negotiations, Axios reported Wednesday, citing two US officials and two other sources familiar with the matter.The two countries are moving closer to an agreement on a short memorandum to end the war, CNN also reported, citing a regional source familiar with the negotiations."Traders in the US woke up to see some real excitement in the markets today caused by the (Axios) news," Macquarie said in a note. "The good news, for now, is that the same sources that leaked the existence of a deal to Axios said this was the closest the parties had been to an agreement since the war began."US President Donald Trump issued a fresh warning to Iran, saying the "bombing starts" again if a deal is not reached."Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective blockade will allow the Hormuz Strait to be open to all, including Iran," Trump said in a social media post.Iran said it is still reviewing the latest US proposal, according to news reports.US Treasury yields were lower intraday, with the 10-year rate down 7.4 basis points at 4.36% and the two-year rate falling 7.2 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 17%, among the best performers on the S&P 500. Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 6.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 4.5%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with chipmaking giant to support AI factory buildouts. Corning shares jumped 14%.Arista Networks (ANET) shares tumbled 16%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.Arm (ARM), Applovin (APP), DoorDash (DASH) and Warner Bros. Discovery (WBD) are expected to report after the closing bell Wednesday, along with others.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.Gold rose 2.8% to $4,695.90 per troy ounce, while silver climbed 5.3% to $77.48 per ounce.
Dow JonesNasdaq CompositeS&P 500$ADP$AMD$ANET$APP$ARM$DASH$DIS$GLW$NVDA$WBD
Wire
Advanced Micro Devices CPU Momentum Strong, GPU Upside Key for Outperformance, RBC Says
Advanced Micro Devices (AMD) reported solid results and an upbeat outlook but further outperformance will depend on GPU ramp execution, while competition and execution risks remain longer term, RBC Capital Markets said in a Wednesday research note.The company posted higher year-over-year Q1 adjusted earnings of $1.37 per diluted share from $0.96. Revenue increased to $10.25 billion from $7.44 billion. Advanced Micro Devices issued Q2 revenue guidance of $11.2 billion, plus or minus $300 million.Advanced Micro Devices' server central processing unit, or CPU, segment outperformed in Q1. It grew more than 50% year on year supported by agentic artificial intelligence. AI graphics processing unit, or GPU, also posted a substantial double-digit growth on an annual basis, the investment firm added.The company could face risks from intensifying competition with ARM (ARM) in the server CPU market. RBC said further outperformance would depend largely on ramps of MI455/Helios, with limited near-term catalysts until the MI GPU cycle scales.RBC raised its price target on AMD to $400 from $325, with a sector perform rating.Shares of Advanced Micro Devices were up more than 16% in Wednesday afternoon trading.Price: $414.15, Change: $+58.89, Percent Change: +16.58%
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US Markets
Stocks Rise Pre-Bell, Oil Prices Fall After Report Says US, Iran Nearing Peace Agreement
The main US stock measures were pointing higher in Wednesday's premarket activity, while oil prices declined after a media report said the US and Iran are nearing a potential agreement to end their conflict.The S&P 500 and the Dow Jones Industrial Average rose 0.7% each before the opening bell, while the Nasdaq advanced 1.2%. The indexes finished the previous trading session in the green, with the S&P 500 and the Nasdaq closing with new highs.Washington is nearing an agreement with Tehran on a one-page memorandum of understanding to end their conflict in the Middle East and establish a framework for more detailed nuclear negotiations, Axios reported Wednesday, citing two US officials and two other sources familiar with the matter.In a social media post on Tuesday, President Donald Trump said the US is temporarily pausing "Project Freedom," its effort to guide neutral ships locked up in the Strait of Hormuz out of the crucial waterway. Trump noted that the US blockade on Iranian ports will remain in effect.US Defense Secretary Pete Hegseth reportedly said Tuesday that the ceasefire agreement with Iran remained intact despite recently renewed tensions in the Gulf region.West Texas Intermediate crude oil dropped 9.3% to $92.88 a barrel in premarket action, while Brent fell 8.3% to $100.77.Treasury yields slipped before the open, with the two-year rate retreating 7.3 basis points to 3.87% and the 10-year rate off 6.8 basis points to 4.35%.Walt Disney (DIS), Uber Technologies (UBER), CVS Health (CVS), Marriott International (MAR), Johnson Controls International (JCI), Restaurant Brands International (QSR), Kraft Heinz (KHC) and Performance Food Group (PFGC) are some of the major companies scheduled to report their latest financial results before the bell, among others.Arm Holdings (ARM), Applovin (APP), DoorDash (DASH) and Warner Bros. Discovery (WBD) post earnings after the markets close.Shares of Advanced Micro Devices (AMD) jumped 18% pre-bell after the chipmaker reported stronger-than-expected first-quarter results. Novo Nordisk's (NVO) US-listed stock climbed 7.5% as the Danish pharmaceutical giant issued an improved full-year sales outlook. Arista Networks (ANET) declined 8.1% after it issued a downbeat second-quarter revenue outlook.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the ADP Employment report for April at 8:15 am. The weekly EIA domestic petroleum inventories report is out at 10:30 am.Federal Reserve Bank of St. Louis President Alberto Musalem is slated to speak at 9:30 am, while Chicago Fed President Austan Goolsbee speaks at 1 pm.Gold increased 3.1% to $4,710 per troy ounce, while bitcoin moved up 0.8% to $82,210.
Dow JonesNasdaq CompositeS&P 500$AMD$ANET$APP$ARM$CVS$DASH$DIS$JCI$KHC$MAR$NVO$PFGC$QSR$UBER$WBD
Asia Markets
US Equity Futures Slip Pre-Bell as Middle East Conflict Enters Third Month, Oil Prices Rise
US equity futures were marginally lower pre-bell Monday as the standoff in the Strait of Hormuz continued, with the Iran-US conflict reaching its third month and traders noting the increase in oil prices.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.President Donald Trump said Sunday that the US would help guide vessels stranded in the Persian Gulf due to the conflict, and Iran responded by warning US forces not to enter the Strait of Hormuz.A US warship was turned away from entering the waterway after being hit by two missiles fired by Iran's navy near the port of Jask, according to Iran's Fars news agency, but a senior US official denied the report, Axios said.Among the companies expected to report quarterly earnings this week are Palantir Technologies (PLTR), Advanced Micro Devices (AMD), HSBC (HSBC), Arm (ARM), Shell (SHEL), and McDonald's (MCD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2% at $110.31 per barrel and US West Texas Intermediate crude 0.8% higher at $102.72 per barrel.March factory orders, due at 10 am ET, are expected to have gained 0.6%, compared with no change previously, according to estimates compiled by Bloomberg.New York Federal Reserve President John Williams is due to speak today.In other world markets, Japan's Nikkei, China's Shanghai Composite, and the UK's FTSE 100 were all closed due to public holidays. Hong Kong's Hang Seng ended 1.2% higher. Germany's DAX index was flat in Europe's early afternoon session.In equities, Alibaba (BABA) shares rose 2% after Chinese robotics startup Linkerbot, which is backed by Alibaba unit Ant Group, said it will seek a $6 billion valuation in its next funding round, according to a Reuters report. EBay (EBAY) stock was 7.5% higher after GameStop (GME) said it submitted a non-binding proposal to acquire all outstanding shares of eBay for $125 each. Tyson Foods (TSN) shares were up 1.6% after the company reported fiscal Q2 adjusted earnings and sales that surpassed analysts' consensus.On the losing side, Norwegian Cruise Line (NCLH) stock was down 5.9% after the company issued lower-than-expected Q2 adjusted earnings guidance and trimmed its 2026 adjusted EPS outlook.
Dow JonesNasdaq CompositeS&P 500$AMD$ARM$BABA$EBAY$GME$HSBC$MCD$NCLH$PLTR$SHEL$TSN
Japan
US Equity Futures Slip as Middle East Conflict Enters Third Month, Oil Prices Rise
US equity futures were lower pre-bell Monday as the standoff in the Strait of Hormuz continued, with the Iran-US conflict reaching its third month and traders noting the increase in oil prices.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.President Donald Trump said Sunday that the US would help guide vessels stranded in the Persian Gulf due to the conflict, and Iran responded by warning US forces not to enter the Strait of Hormuz.A US warship was turned away from entering the waterway after being hit by two missiles fired by Iran's navy near the port of Jask, according to Iran's Fars news agency, but a senior US official denied the report, Axios said.Among the companies expected to report quarterly earnings this week are Palantir Technologies (PLTR), Advanced Micro Devices (AMD), HSBC (HSBC), Arm (ARM), Shell (SHEL), and McDonald's (MCD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $111.89 per barrel and US West Texas Intermediate crude 2.9% higher at $104.93 per barrel.March factory orders are expected to have gained 0.6%, compared with no change previously, according to estimates compiled by Bloomberg.New York Federal Reserve President John Williams is due to speak today.
Dow JonesNasdaq CompositeS&P 500$AMD$ARM$HSBC$MCD$PLTR$SHEL
Japan
Update: US Equity Investors to Focus This Week on Risk of Iran Ceasefire Falling Apart, Earnings, Nonfarm Payrolls
(Updates to add more information on the headline)US equity investors will look out for Iran ending its ceasefire agreement with Washington if the US military escorts ships stranded in the Strait of Hormuz, while focusing on mega-cap quarterly earnings and labor market data this week.* An Iranian official warned the US will be attacked if it tries to approach or enter the Strait of Hormuz, after President Donald Trump said the US military will begin guiding stranded ships through the chokepoint on Monday, CNN reported. US Central Command said it would support the effort with 15,000 military personnel, more than 100 land and sea-based aircraft, warships, and drones, Reuters reported.* Concurrently, Trump reported "very positive discussions" with Iran, according to CNN. The Iranian Foreign Ministry is reviewing the US' reply to Tehran's latest peace proposal, CNN reported, citing the ministry.* Meanwhile, West Texas Intermediate crude oil futures rose 1.3% to $103.27, and Brent crude futures climbed 1.3% to $109.62 early Monday. Most US Treasury yields also advanced, with the 10-year up two basis points to 4.4% and the two-year higher by 2.3 basis points to 3.91%.* Quarterly earnings due this week include Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Arista Networks (ANET), Arm Holdings (ARM), Uber Technologies (UBER), Applovin (APP), Shell (SHEL), McDonald's (MCD), and Walt Disney (DIS).* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP private payrolls, Challenger job cuts, ISM services PMI, and the University of Michigan's preliminary consumer sentiment and inflation expectations.* Europe will respond should Trump follow through on his threat to raise tariffs on cars and trucks from the European Union to 25%, Eurogroup President Kyriakos Pierrakakis told Bloomberg. "The number one choice is always dialogue," he said. "If there is a deviation from what we have agreed upon, obviously all options are on the table and all choices will be on the table."
Dow JonesNasdaq CompositeS&P 500$AMD$ANET$ARM$DIS$MCD$PLTR$SHEL$UBER
Asia Markets
US Equity Investors to Focus on Risk of Iran Ceasefire Falling Apart, Quarterly Earnings, Nonfarm Payrolls
US equity investors will look out for Iran ending its ceasefire agreement with Washington if the US military escorts ships stranded in the Strait of Hormuz, while focusing on mega-cap quarterly earnings and labor market data this week.* An Iranian official warned the US will be attacked if it tries to approach or enter the Strait of Hormuz, after President Donald Trump said the US military will begin guiding stranded ships through the chokepoint on Monday, CNN reported. US Central Command said it would support the effort with 15,000 military personnel, more than 100 land and sea-based aircraft, warships, and drones, Reuters reported.* Concurrently, Trump reported "very positive discussions" with Iran, according to CNN. The Iranian Foreign Ministry is reviewing the US' reply to Tehran's latest peace proposal, CNN reported, citing the ministry.* Meanwhile, West Texas Intermediate crude oil futures rose 1.3% to $103.27, and Brent crude futures climbed 1.3% to $109.62 early Monday. Most US Treasury yields also advanced, with the 10-year up two basis points to 4.4% and the two-year higher by 2.3 basis points to 3.91%.* Quarterly earnings due this week include Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Arista Networks (ANET), Arm Holdings (ARM), Uber Technologies (UBER), Applovin (APP), Shell (SHEL), McDonald's (MCD), and Walt Disney (DIS).* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP private payrolls, Challenger job cuts, ISM services PMI, and the University of Michigan's preliminary consumer sentiment and inflation expectations.* Europe will respond should Trump follow through on his threat to raise tariffs on cars and trucks from the European Union to 25%, Eurogroup President Kyriakos Pierrakakis told Bloomberg. "The number one choice is always dialogue," he said. "If there is a deviation from what we have agreed upon, obviously all options are on the table and all choices will be on the table."
Dow JonesNasdaq CompositeS&P 500$AMD$ANET$ARM$DIS$MCD$PLTR$SHEL$UBER
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