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Broadcom

Broadcom

$AVGO
NASDAQSemiconductors

153 stories mentioning BroadcomUpdated 2d ago

Trading with chip stocks, whose recent surge lost momentum as semiconductors led the market lower amid US-Iran tensions before stabilizing on peace optimism.

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Stocks Mostly Down Pre-Bell as Investors Monitor Latest Middle East Developments
US Markets

Stocks Mostly Down Pre-Bell as Investors Monitor Latest Middle East Developments

US equity markets were mostly pointing lower before the opening bell Thursday as traders continue to monitor the latest developments in the Middle East.The S&P 500 edged down 0.1%, and the Nasdaq was off 0.2% in premarket activity, while the Dow Jones Industrial Average nudged 0.1% higher. The indexes finished the previous trading session in the green, snapping a three-day losing streak.President Donald Trump told reporters on Wednesday that renewed attacks against Iran aren't likely to last "too long," according to multiple media outlets. US forces struck Iranian military targets earlier in the week."We took out all of the new equipment that they tried to build along the Strait of Hormuz -- some defensive, some offensive," Trump reportedly said, according to Bloomberg News. "It was a very heavy attack last night, and we're prepared to do another one any time we want."Top officials in the Trump administration are seeking to prevent the war with Iran from escalating ahead of November's midterm elections, while considering ramping up military action after the vote, Reuters reported Wednesday, citing people familiar with the discussions.Kuwait's army said Thursday it was intercepting missile and drone attacks from Iran targeting US bases in the country, CNBC reported.West Texas Intermediate crude oil rose 1.7% to $92.52 a barrel before the open, while Brent increased 1.6% to $97.16.Treasury yields were trending lower in premarket action, with the two-year rate retreating 1.1 basis points to 4.38% and the 10-year rate decreasing 0.8 basis points to 4.79%.Federal Reserve Bank of New York President John Williams told CNBC in an interview on Wednesday that the recent spike in Treasury yields reflects a strong economy, not market dysfunction.Employers in the US announced 52,881 layoffs in August, up 58% from the month prior but down 38% year over year, according to Challenger, Gray & Christmas' latest report. US private sector employment grew at its slowest pace in seven months in August, ADP (ADP) data showed Wednesday.Thursday's economic calendar also has the weekly jobless claims bulletin and the international trade in goods and services report for July at 8:30 am ET. The purchasing managers' index composite final report from S&P Global (SPGI) for August is out at 9:45 am, followed by the Institute for Supply Management's services index for the same month at 10 am.Federal Reserve Governor Christopher Waller is scheduled to speak at 8:30 am, while Cleveland Fed President Beth Hammack speaks at 3 pm.Shares of Broadcom (AVGO) and Hewlett Packard Enterprise (HPE) declined 3.3% and 3.7%, respectively, pre-bell after reporting their latest financial results. Snowflake (SNOW) jumped 24% as the firm lifted its full-year product revenue outlook.Ciena (CIEN), Toro (TTC), Campbell's (CPB) and Victoria's Secret (VSXY) are expected to release their quarterly earnings before the bell, among others. Zscaler (ZS), Guidewire Software (GWRE), Lululemon Athletica (LULU), DocuSign (DOCU) and UiPath (PATH) post their results after the markets close.Gold gained 1.2% to $4,469 per troy ounce, while bitcoin increased 0.5% to $77,597.

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN$CPB$DOCU$GWRE$HPE$LULU$PATH$SNOW$TTC$VSXY$ZS
Broadcom Beats Third-Quarter Estimates on Strong AI Chip Sales
US Markets

Broadcom Beats Third-Quarter Estimates on Strong AI Chip Sales

Broadcom's (AVGO) fiscal third-quarter results topped Wall Street estimates, driven by a surge in artificial intelligence semiconductor revenue, while the chipmaker guided current-quarter sales ahead of market expectations.Adjusted earnings rose to $3.32 a share during the quarter through Aug. 2 from $1.69 a year earlier, coming in ahead of the FactSet-polled consensus indicating $3.22. Revenue advanced 86% to $29.59 billion, above the Street's $29.24 billion view.AI semiconductor revenue soared 221% year-on-year to $16.7 billion, driven by strong demand for custom AI accelerators and networking, Broadcom Chief Executive Hock Tan said in a statement.The semiconductor solutions division's sales climbed 127% to $20.84 billion, while the infrastructure software segment increased 29% to $8.75 billion.For the fourth quarter, Broadcom anticipates total revenue growth of 93%, to about $34.8 billion, compared with the consensus estimate of $34.68 billion.AI semiconductor revenue is seen climbing 236% year-over-year to $21.7 billion in the fourth quarter, Tan said.Broadcom's stock fell 3.4% in after-hours trading, and had gained 6.1% this year through Wednesday's close.RBC Capital Markets expected the company to report solid quarterly results and raise its fiscal 2027 AI revenue guidance toward the $120 billion consensus view from its most recent guidance of more than $100 billion."Overall, we won't be surprised if the stock reacts slightly positively given the recent underperformance but are unsure if (fiscal 2027) estimates will move materially above consensus," the brokerage said in a note to clients last week.Nvidia (NVDA) said late last month that record data center sales drove a fiscal second-quarter beat. Chip designer Marvell Technology's (MRVL) latest quarterly results also beat market estimates amid a surge in data center revenue.Previously, chipmaker Advanced Micro Devices (AMD) posted fiscal second-quarter results above estimates and issued a strong third-quarter revenue outlook.

$AMD$AVGO$MRVL$NVDA
Update: Equities Rise Intraday as Yield Rally Fades
US Markets

Update: Equities Rise Intraday as Yield Rally Fades

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday as a rally in Treasury yields lost steam, while commodity traders continued to track developments in the US-Iran conflict.The S&P 500 was up 0.4% at 7,661.4 after midday Wednesday. The Dow Jones Industrial Average and the Nasdaq Composite gained 0.3% each to 52,947.5 and 26,182.3, respectively. The indexes finished Tuesday trading in the red for the third consecutive session.Most sectors were in the green intraday, led by materials, while real estate saw the steepest decline.Treasury yields were little changed intraday, with the two-year yield at 4.39% and the 10-year yield at 4.79%. Earlier Wednesday, the 10-year rate hit 4.818%, its highest level since November 2023, CNBC reported."While easing slightly after hitting multi-year peaks, yields remain elevated," Stifel said in a note on Wednesday.Iran has expanded the number of vessels it says must not sail through the Strait of Hormuz, Reuters reported Wednesday.The US Central Command said Tuesday that its forces completed a wave of strikes against Iranian military targets. Iran reportedly launched retaliatory attacks on Kuwait, Jordan and Bahrain.West Texas Intermediate crude oil was up 1.1% at $91.17 a barrel intraday Wednesday, while Brent advanced 1.2% to $95.81.In company news, shares of Dell Technologies (DELL) were up 9.2% intraday, the best performer on the S&P 500, after the company's fiscal second-quarter results beat Wall Street's estimates.Palo Alto Networks (PANW) slumped nearly 11%, the steepest decline on the S&P 500, as the cybersecurity firm's fiscal fourth-quarter adjusted gross margin declined year over year.Brown-Forman (BF.A, BF.B) reiterated its guidance for fiscal 2027 organic sales on Wednesday as it flagged continuing consumer headwinds that drove weaker-than-expected first-quarter top-line. The company's class A and B shares were up 3.2% and 3.4%, respectively.Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE) and Five Below (FIVE) are scheduled to release their quarterly results after markets close Wednesday.In economic news, US private sector employment grew at its slowest pace in seven months in August, ADP (ADP) data showed, ahead of the official jobs report due on Friday.Data from the Bureau of Labor Statistics are likely to show Friday that the US economy added 55,000 nonfarm jobs last month, compared with a drop of 23,000 for July, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.1%.Spot gold rose 0.9% to $4,368.15 per troy ounce, while silver edged up 0.1% to $65.44 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$AVGO$BF.A$BF.B$DELL$FIVE$HPE$PANW$SNOW
Asia Markets

Update: US Equity Futures Mostly Flat Pre-Bell as Global Bond Yields Continue Rising

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly flat pre-bell Wednesday as traders observed global bond yields continuing to increase amid inflation concerns.Dow Jones Industrial Average futures were 0.2% higher, but S&P 500 futures were up 0.1%, and Nasdaq futures were down 0.1%.The US 10-year Treasury note yield reached a high of 4.814%, while borrowing costs in the UK, Germany and France also increased.US Central Command said in a post on X that US forces completed a wave of strikes against Iranian military targets on Tuesday. Iran attacked US allies Kuwait and Bahrain in response.President Donald Trump said he was not trying to force Iran back into negotiations. "I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing," Trump said in a post on Truth Social.Broadcom (AVGO) is scheduled to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $3.22 per share on revenue of $29.24 billion.Oil prices are lower, with front-month global benchmark North Sea Brent crude down 0.4% at $94.29 per barrel and US West Texas Intermediate crude 0.7% lower at $89.55 per barrel.ADP's national employment report showed that private sector employment increased by 38,000 in August, below expectations for a 47,000 gain in a survey compiled by Bloomberg.July factory orders, due at 10 am ET, are expected to have gained 0.7%, compared with a decline of 0.3% previously. The Fed's Beige Book report will be released at 2:00 pm ET.In other world markets, Japan's Nikkei closed 2.9% lower, Hong Kong's Hang Seng ended 0.1% lower, and China's Shanghai Composite finished 1% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Dell Technologies (DELL) stock rose 8.8% after the company posted higher fiscal Q2 adjusted earnings and revenue in addition to lifting its full-year guidance. Uber Technologies (UBER) shares were up 1.9% after Chief Executive Dara Khosrowshahi said in an email to employees that the company is laying off roughly 10% of its workforce as part of a restructuring effort. Hewlett Packard Enterprise (HPE) stock was 4.4% higher after Tottenham Hotspur Football Club said it has expanded its partnership with the company to modernize the technology infrastructure for the club's stadium, including hybrid cloud, networking and artificial intelligence-driven operations.On the losing side, Palantir Technologies (PLTR) shares fell 1.7% after former Ukrainian Defense Minister Mykhailo Fedorov said Tuesday in a post on X that Chief Executive Alex Karp will become the first lead investor in his defense tech startup. Manulife Financial (MFC) stock was 3.7% lower after company said Tuesday it priced a $750 million public offering in the US of 6.146% subordinated notes due 2041.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$HPE$MFC$PLTR$UBER
Japan

US Equity Futures Slightly Lower Pre-Bell as Global Bond Yields Continue Rising

US equity futures were mostly lower pre-bell Wednesday as traders observed global bond yields continuing to increase amid inflation concerns.Dow Jones Industrial Average futures were 0.1% higher, but S&P 500 futures were down 0.1%, and Nasdaq futures were off 0.3%.The US 10-year Treasury note yield reached a high of 4.814%, while borrowing costs in the UK, Germany and France also increased.US Central Command said in a post on X that US forces completed a wave of strikes against Iranian military targets on Tuesday. Iran attacked US allies Kuwait and Bahrain in response.President Donald Trump said he was not trying to force Iran back into negotiations. "I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing," Trump said in a post on Truth Social.Broadcom (AVGO) is scheduled to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $3.22 per share on revenue of $29.24 billion.Oil prices are lower, with front-month global benchmark North Sea Brent crude down 0.9% at $93.83 per barrel and US West Texas Intermediate crude 1.1% lower at $89.19 per barrel.The ADP employment report for August, expected at 8:15 am ET, is seen increasing to 47,000 from 44,000 in the prior month, according to estimates compiled by Bloomberg.July factory orders, due at 10 am ET, are expected to have gained 0.7%, compared with a decline of 0.3% previously. The Fed's Beige Book report will be released at 2:00 pm ET.

Dow JonesNasdaq CompositeS&P 500$AVGO
Stocks Fall Pre-Bell Amid Rising Middle East Tensions, Bond Yields
US Markets

Stocks Fall Pre-Bell Amid Rising Middle East Tensions, Bond Yields

The main US stock measures were trending lower in Wednesday's premarket activity amid escalating tensions in the Middle East and rising bond yields.The S&P 500 declined 0.2%, the Dow Jones Industrial Average edged down 0.1%, and the Nasdaq was off 0.5% before the opening bell. The indexes finished Tuesday trading in the red for the third consecutive session.The US Central Command said Tuesday that its forces completed a wave of strikes against Iranian military targets, following recent attempted attacks by the Islamic Revolutionary Guard Corps against commercial shipping in the Strait of Hormuz.Iran reportedly launched retaliatory drones and missiles on US bases in Kuwait, Jordan and Bahrain, according to multiple media outlets.West Texas Intermediate crude oil rose 0.3% to $90.50 a barrel in premarket action, while Brent increased 0.5% to $95.11.In a social media post on Tuesday, President Donald Trump said he's "not trying to force Iran" to resume negotiations with the US. "I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing," Trump wrote.Treasury yields were moving higher before the open, with the 10-year rate up 1.8 basis points to 4.81%, reportedly reaching its highest level since November 2023. The two-year rate inclined 0.8 basis points to 4.4%, while the 30-year yield gained 1.9 basis points to 5.29%."Higher yields are proving to be the stock market's undoing," Thierry Wizman, global foreign exchange and rates strategist at Macquarie Group, said in a note e-mailed toon Tuesday. "They force analysts to discount higher earnings more aggressively, thus forcing (price-to-earnings) multiples downward."The Federal Reserve should tighten monetary policy unless inflation cools down, Governor Michael Barr said Tuesday, adding to a growing chorus of hawkish views from policymakers. Fed Chair Kevin Warsh said last week that the central bank's primary focus should be on prices, given that the US is doing well on the employment front.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the ADP Employment report for August at 8:15 am. The Fed's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, is out at 2 pm.Shares of Dell Technologies (DELL) spiked 9.3% pre-bell after the computer maker's fiscal second-quarter results beat Wall Street's estimates. Palo Alto Networks (PANW) retreated nearly 2% as the cybersecurity firm's fiscal fourth-quarter adjusted gross margin declined year over year.Credo Technology (CRDO) and MongoDB (MDB) fell 8.9% and 13%, respectively, following their latest financial results.Brown Forman (BF.A, BF.B), Ollie's Bargain Outlet (OLLI) and FuelCell Energy (FCEL) are expected to release their quarterly earnings before the bell, among others. Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE) and Five Below (FIVE) post their results after the markets close.Gold declined 0.9% to $4,365 per troy ounce, while bitcoin slipped 1% to $76,467.

Dow JonesNasdaq CompositeS&P 500$AVGO$BF.A$BF.B$CRDO$DELL$FCEL$FIVE$HPE$MDB$OLLI$PANW$SNOW
Update: Equities Fall as US-Iran Conflict Flares Up; Wall Street Logs Gains for August
US Markets

Update: Equities Fall as US-Iran Conflict Flares Up; Wall Street Logs Gains for August

(Updates with market moves at the end of the day, and other changes, if any.)Stocks on Wall Street fell on the last trading day of August as oil prices jumped following an escalation in the US-Iran conflict, though equity benchmarks posted monthly gains.The Dow Jones Industrial Average closed Monday trading 0.7% lower at 53,185.90. The S&P 500 declined 0.3% to 7,686.14, while the Nasdaq Composite edged down 0.1% to 26,370.89. Except energy and technology, all sectors were in the red, led by communication services.For the month August, the Nasdaq climbed 3.9%, while the S&P 500 gained 2.6%, following two straight monthly losses for both indexes. The Dow added 1.3%, recording its fifth consecutive monthly rise.West Texas Intermediate crude oil was up 3.1% at $85.97 a barrel in Monday late-afternoon trade, while Brent advanced 2.7% to $90.45. Both benchmarks were on track to post their second monthly gains in a row.The US and Iran reportedly traded strikes for the first time in a month, with American forces attacking two Iranian rocket launchers on Iran's Larak Island, multiple media outlets reported. A spokesperson for US Central Command said that Tehran's Islamic Revolutionary Guard Corps was preparing to launch rockets with sea mines into the Strait of Hormuz, CNN reported.The attack is the first confirmed US military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Iran.Iran said it retaliated by attacking US bases in Jordan and the United Arab Emirates, according to a CNN report."These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said Monday in a report. "However, with an estimated (6 million to 8) million barrels per day of crude flowing through the strait, the upside risk is for now being capped."US Treasury yields were mixed, with the two-year yield little changed at 4.35% while the 10-year yield rose 3.8 basis points to 4.76%.Fresh labor market data are scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for July on Tuesday, followed by August's ADP employment report on Wednesday. The Challenger, Gray & Christmas job cut and the government's nonfarm payrolls data, both for August, are due on Thursday and Friday, respectively.US nonfarm payrolls are projected to rebound stronger than expected in August, Oxford Economics said in a note Monday, describing labor market conditions as balanced. The brokerage expects nonfarm payrolls to have increased by 95,000 this month, compared with the Bloomberg-polled consensus of a 55,000 increase.The odds of a quarter-point rate hike next month rose to 66% on Monday from 57% on Friday, according to the CME FedWatch tool. The probability that the Fed will keep the benchmark rate steady fell to 34% from 43%.In company news, shares of Edison International (EIX) sank 23%, the worst performer on the S&P 500, followed by PG&E's (PCG) 20% slide. The state of California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday. Sempra (SRE) fell 3.1%.Aon (AON) has agreed to acquire insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. Aon shares slumped 9.5%, the third-steepest decline on the S&P 500.Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips. Shares of the tech bellwether rose 1.5%, the third-biggest gain on the Dow.Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL) and Snowflake (SNOW) are among the companies expected to release their latest financial results this week.Spot gold was little changed at $4,454.05 per troy ounce, while silver lost 0.8% to $67.25 per ounce.

Dow JonesNasdaq CompositeS&P 500$AON$AVGO$DELL$EIX$NVDS$PANW$PCG$SNOW$SRE
Update: Equities Fall Intraday as Oil Prices Rise on Renewed US-Iran Hostilities
US Markets

Update: Equities Fall Intraday as Oil Prices Rise on Renewed US-Iran Hostilities

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday as hostilities resumed between the US and Iran, driving oil prices higher.The Dow Jones Industrial Average was down 0.6% at 53,230.7 after midday Monday, while the S&P 500 fell 0.5% to 7,676.8. The Nasdaq Composite dipped 0.4% to 26,304.6. Except energy, all sectors were in the red, led by communication services.West Texas Intermediate crude oil climbed 2.9% to $85.85 a barrel, while Brent advanced 2.8% to $90.59.The US and Iran reportedly traded strikes for the first time in a month, with American forces attacking two Iranian rocket launchers on Iran's Larak Island, multiple media outlets reported. A spokesperson for US Central Command said that the attack came as Tehran's Islamic Revolutionary Guard Corps was preparing to launch rockets with sea mines into the Strait of Hormuz, CNN reported.The attack is the first confirmed US military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Iran.Iran said it retaliated by attacking US bases in Jordan and the United Arab Emirates, according to a CNN report."These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said Monday in a report. "However, with an estimated (6 million to 8) million barrels per day of crude flowing through the strait, the upside risk is for now being capped."US Treasury yields were mixed intraday, with the two-year yield little changed at 4.35% while the 10-year yield rose 3.4 basis points to 4.76%.Fresh labor market data are scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for July on Tuesday, followed by August's ADP employment report on Wednesday. The Challenger, Gray & Christmas job cut and the government's nonfarm payrolls data, both for August, are due on Thursday and Friday, respectively.The odds of a quarter-point rate hike next month rose to 66% on Monday from 57% on Friday, according to the CME FedWatch tool. The probability that the Fed will keep the benchmark rate steady fell to 34% from 43%.In company news, shares of Edison International (EIX) sank 24% intraday, the worst performer on the S&P 500, followed by PG&E's (PCG) 19% slide. The state of California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday. Sempra (SRE) was down 3.4%.Aon (AON) has agreed to acquire insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. Aon shares slumped 7.4%, among the steepest declines on the S&P 500.Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips. Shares of the tech bellwether were up 1.1%, among the biggest gains on Dow.Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL) and Snowflake (SNOW) are among the companies expected to release their latest financial results this week.Spot gold declined 0.5% to $4,432.35 per troy ounce, while silver lost 1.1% to $67.04 per ounce.

Dow JonesNasdaq CompositeS&P 500$AON$AVGO$DELL$EIX$NVDS$PANW$PCG$SNOW$SRE
Nvidia Investing $3.5 Billion in MediaTek, Partners on NVLink Fusion Platform
US Markets

Nvidia Investing $3.5 Billion in MediaTek, Partners on NVLink Fusion Platform

Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips.Under the deal, Nvidia bought $3.5 billion convertible bonds issued by MediaTek, and the Taiwan-based fabless chipmaker will adopt the NVLink Fusion platform, which provides chipmakers with prevalidated connectors and specialized memory to integrate custom AI accelerators directly into Nvidia's rack-scale data center systems."MediaTek is one of the world's great semiconductor companies, with exceptional expertise in system-on-chip design, connectivity, leading performance and power efficiency," Nvidia Chief Executive Jensen Huang said. "Together, we're building platforms that bring Nvidia accelerated computing to new markets and give customers the freedom to create differentiated AI systems at enormous scale.""Nvidia's investment strengthens a collaboration that spans cloud AI infrastructure, local AI computing and automotive in the era of physical AI," MediaTek CEO Rick Tsai said.Last week, Nvidia reported fiscal second-quarter results that more than doubled from a year ago and topped Wall Street expectations, driven by record data center sales. Morgan Stanley said the chipmaking giant offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs.Separately, Nvidia announced an expanded partnership with Amazon.com's (AMZN) Amazon Web Services to supply 2 million additional GPUs across AWS infrastructure in 2027 and 2028, and build dedicated 100,000-GPU AI factories for federal security workloads.Earlier in August, Nvidia said it was collaborating with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital to support its AI infrastructure. Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BAM), Goldman Sachs (GS) and KKR (KKR) were part of the partnership.Previously, Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative.Nvidia's shares were up 1.1% Monday and have gained 18% this year.Chip designer Marvell Technology (MRVL) reported late last week second-quarter results above Wall Street's estimates amid a surge in data center revenue. B. Riley Securities said the company's fiscal third-quarter gross margin outlook came in a bit soft amid a higher custom product mix.Semiconductor manufacturer Broadcom (AVGO) is scheduled to report its fiscal third-quarter results Wednesday.Price: $220.40, Change: $+2.85, Percent Change: +1.31%

$AMZN$APO$AVGO$BAM$BLK$BX$GS$KKR$MRVL$NVDA
Wire

Broadcom Launches VMware AI Factory for AI Infrastructure Deployment

Broadcom (AVGO) said Monday it is launching VMware AI Factory, the software-defined foundation of VMware Private AI Cloud, with new automation features for deploying AI infrastructure.The product was designed to allow clients to achieve faster time to first model deployment as well as better management of AI tokenomics, the company said.VMware AI Factory will allow clients to streamline AI infrastructure management by automating hardware provisioning, software stack enablement, and end-to-end lifecycle management, Broadcom said.VMware AI Factory also includes private AI services that allow clients to build, run, and manage inference workloads, agentic applications, and traditional workloads on a single cloud platform.Price: $369.13, Change: $+0.34, Percent Change: +0.09%

$AVGO
Wire

Broadcom Says AI Models From Google, Nvidia, Alibaba Cloud Validated to Run on VMware Cloud Foundation

Broadcom (AVGO) said Monday that artificial intelligence models from providers including Alphabet's (GOOGL, GOOG) Google, Nvidia (NVDA), Alibaba's (BABA) Alibaba Cloud and others, are validated to run on VMware Cloud Foundation.VMware Cloud Foundation provides an AI and Kubernetes-native platform that gives organizations across industries a production-ready path to deploy a variety of AI models, the company said.Price: $369.36, Change: $+0.57, Percent Change: +0.15%

$AVGO$BABA$GOOG$GOOGL$NVDA
Asia Markets

Update: US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens."Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 5.5% at $90.85 per barrel and US West Texas Intermediate crude 3.4% higher at $86.26 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.In other world markets, Japan's Nikkei closed 0.1% lower, Hong Kong's Hang Seng ended 0.1% lower, and China's Shanghai Composite finished 0.9% higher. Meanwhile, Germany's DAX index was 0.6% lower in Europe's early afternoon session. The UK's FTSE 100 was closed for a public holiday.In equities, stocks of Exxon Mobil (XOM), Chevron (CVX), and Shell (SHEL) were higher as oil prices increased. Exxon Mobil shares rose 2.1%, Chevron stock was up 2.4%, and Shell (SHEL) shares were 1.3% higher.On the losing side, PG&E (PCG) stock was more than 16% lower after an ABC7 report on Sunday that the company faces continued legal exposure after California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes. Pinterest (PINS) shares were down 3.2% after the company disclosed late Friday that Chief Financial Officer Julia Brau Donnelly will leave the company on Oct. 30 after three years to pursue an opportunity at a private company.

Dow JonesNasdaq CompositeS&P 500$AVGO$CVX$DELL$HPE$MDT$PANW$PCG$PINS$SHEL$SNOW$XOM
Stocks Down Pre-Bell as US, Iran Exchange Strikes; Investors Await Fresh Labor Market Data
US Markets

Stocks Down Pre-Bell as US, Iran Exchange Strikes; Investors Await Fresh Labor Market Data

The benchmark US stock measures were pointing lower before the opening bell Monday after the US and Iran reportedly traded strikes for the first time in a month, while investors await fresh labor market data.The S&P 500, the Dow Jones Industrial Average and the Nasdaq were down 0.2% each in premarket activity. The indexes finished Friday's trading session in the red.The US Central Command said its forces struck two Iranian rocket launchers on Iran's Larak Island, multiple media outlets reported. A spokesperson for CENTCOM reportedly said that the attack was launched as Tehran's Islamic Revolutionary Guard Corps was observed preparing to launch rockets with sea mines into the Strait of Hormuz.The attack is the first confirmed US military strike targeting Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Iran.The IRGC said Monday that it launched a retaliatory attack on two US bases in Jordan, according to Iranian media.West Texas Intermediate crude oil spiked 3.8% to $86.54 a barrel before the open, while Brent gained 3.7% to $91.33.Treasury yields were mixed in premarket action, with the two-year rate retreating 2.5 basis points to 4.33% while the 10-year rate rose 0.2 basis points to 4.72%.Fresh labor market data is scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for July on Tuesday, followed by August's ADP employment report on Wednesday. The Challenger Job Cut and the government's nonfarm payrolls data, both for August, are due on Thursday and Friday, respectively.In his debut Jackson Hole speech as Federal Reserve Chair, Kevin Warsh said Friday that inflation numbers were concerning, citing the central bank's preferred metric -- the personal consumption expenditure price index -- which was unchanged at 3.7% year over year in July."Warsh's Jackson Hole keynote speech kept his options wide open, but his comments suggest that he, like others on the committee, is close to concluding that inflation isn't moving back toward the 2% target quickly enough," Oxford Economics said in a report emailed to.The odds of a quarter-point rate hike next month currently stand at 62%, up from 57% on Friday, according to the CME FedWatch tool. The probability that the Fed will keep the benchmark rate steady fell to about 38% from 43%.US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed Friday.Monday's thin economic calendar has the Dallas Fed manufacturing survey for August at 10:30 am ET.Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL) and Snowflake (SNOW) are some of the major companies expected to release their latest financial results this week. Science Applications International (SAIC) posts its earnings before the bell Monday.Gold declined 0.7% to $4,499 per troy ounce, while bitcoin decreased 0.5% to $78,457.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$PANW$SAIC$SNOW
Japan

US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens".Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $91.10 per barrel and US West Texas Intermediate crude 3.7% higher at $86.53 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$HPE$MDT$PANW$SNOW
Asia Markets

US Equity Investors to Focus on Corporate Earnings, Labor Market Health, Renewed Hostilities Against Iran This Week

US equity investors are expected to watch Q2 earnings, with a particular focus on cybersecurity and tech mega-cap names, the state of the labor market, and a resumption of strikes between Washington and Iran this week.* Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE), NetApp (NTAP), Five Below (FIVE) and Zscaler (ZS) are expected to report quarterly earnings this week.* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP employment change, Challenger job cuts, jobless claims, ISM manufacturing and services, factory orders, and balance of trade.* Payrolls are estimated to rise by "just" 30,000 after falling by 23,000 in July, according to a Scotiabank note late Friday. Revisions may be smaller than the 103,000 contraction in May and June because the initial sampling rate for payrolls improved in July. The unemployment rate is forecast to tick up to 4.2%.* Federal Reserve Chair Warsh's Jackson Hole speech spooked bond markets on Friday, the Scotiabank note said. Part of his mission may have been to maintain downward pressure on yields as the 10-year Treasury has stalled out in the 4.6% to 4.7% range over recent weeks. "Part of his message, however, was that he wants much more evidence on disinflationary pressures and sees nothing wrong with the labour market."* Iran and the US traded attacks for the first time in over a month overnight into Monday, CNN reported. Iran said it has attacked US bases in Jordan and US military targets at the Al Minhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island, according to a report from Al Jazeera, a Middle Eastern broadcaster.* The US military struck the two launchers that a US official said were attempting to deploy mines into the Strait of Hormuz, Reuters reported. The United Arab Emirates condemned the Iranian drone attack on Monday as a "dangerous escalation" and a flagrant violation of its sovereignty, the news report said.

Dow JonesNasdaq CompositeS&P 500$AVGO$FIVE$HPE$NTAP$SNOW$ZS
Marvell Technology Issues Soft Quarterly Gross Margin Outlook on Greater Custom Mix, B. Riley Says
US Markets

Marvell Technology Issues Soft Quarterly Gross Margin Outlook on Greater Custom Mix, B. Riley Says

Marvell Technology's (MRVL) fiscal third-quarter gross margin outlook came in a bit soft amid a higher custom product mix, following "solid" results for its just-concluded quarter, B. Riley Securities said in a note e-mailed Friday.Late Thursday, the chip designer's second-quarter results rose above Wall Street's estimates amid a surge in data center revenue. For the ongoing quarter, the company expects non-GAAP gross margin between 57.5% and 58.5% versus 58.9% reported for the prior quarter."Revenue levels and product mix remain key determinants of gross margin in any given quarter, with the forecasted acceleration of our custom business creating the sequential headwind in the fiscal third quarter," Marvell Technology Chief Financial Officer Dan Durn said on an earnings conference call, according to a FactSet transcript.The company expects to maintain fourth-quarter gross margin "in this range," Durn said.The third-quarter gross margin outlook was below B. Riley's estimates amid "greater custom mix," analyst Craig Ellis said in a note to clients. "Overall, a solid (second) quarter in our view, with the diversifying data center base led by interconnect strength."Gross margin for the second half of fiscal 2027 is likely "a little below" on mix, while operating expenditures are a little higher on growth investments for Amazon (AMZN) Web Services Trainium, Alphabet's (GOOG, GOOGL) Google XPU, and Nvidia (NVDA) NVLink Fusion deals, Ellis said."While (operating margins) should still strongly enter the 38%-to-40% range in (the fourth quarter), that's a little below our prior forecast given (gross margin) action," the analyst wrote.B. Riley lowered its price target on the Marvell Technology stock to $315 from $345, with a buy rating.The company's shares were down 9.9% in Friday late-afternoon trade. The stock has jumped about 156% so far this year."We believe investors will get much more of the long-term growth outlook they'd like in six weeks at analyst day, with the model now defensively set on (gross margin) and OpEx," Ellis said. "We thus see a buy-the-dip opportunity, though acknowledged shares could trade sideways or even a bit lower into early (fourth quarter)."Earlier in the week, Morgan Stanley said chipmaking giant Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs.Semiconductor manufacturer Broadcom (AVGO) is scheduled to report its fiscal third-quarter results Wednesday."Overall, (Marvell Technology's) leverage is dented a bit near term as large customer programs get going, though longer-term growth and EPS seem strongly on track to what could be $10 to $11 in (2029 EPS), and much greater thereafter," Ellis said.Price: $217.54, Change: $-23.91, Percent Change: -9.90%

$AMZN$AVGO$GOOG$GOOGL$MRVL$NVDA
Marvell Technology Tops Second-Quarter Expectations on Data Center Revenue Surge
US Markets

Marvell Technology Tops Second-Quarter Expectations on Data Center Revenue Surge

Marvell Technology's (MRVL) second-quarter results rose above Wall Street's estimates amid a surge in data center revenue, while the chip designer expects artificial intelligence to drive revenue acceleration through fiscal 2028.Revenue climbed 37% annually to $2.74 billion, exceeding the FactSet-polled consensus of $2.72 billion. Non-GAAP earnings per share increased to $0.94 in the three months ended Aug. 1 from $0.67 a year earlier. Analysts expected $0.93.Data center revenue jumped 46% annually to $2.17 billion, while Street's view was $2.16 billion.The "communications and other" division grew to $567.8 million from $515.6 million. Analysts expected $559 million."AI-related bookings remain exceptionally robust, and we expect our revenue growth to accelerate further through the remainder of fiscal 2027," Chief Executive Matt Murphy said in a statement. "Given this strength, we are again raising our revenue outlook for both fiscal 2027 and fiscal 2028 compared with the guidance we provided last quarter."Marvell didn't provide an updated outlook for fiscal 2027 and 2028 in its second-quarter earnings release.In May, the company projected revenue growth of 40% and 45% year over year in fiscal 2027 and 2028, respectively. Analysts expect sales growth of 41% in fiscal 2027 and 46% in 2028."We are seeing broad-based strength across our data center portfolio, including strong demand in connectivity and a significant acceleration in our custom business beginning in the second half of fiscal 2027," Murphy said.For the fiscal third quarter, Marvell expects net revenue of $3.15 billion, plus or minus 5%. Wall Street expects $3.04 billion. The company forecasts non-GAAP earnings at $1.10 per share, plus or minus $0.05, compared with analysts' consensus of $1.08.The company's shares were down 1.3% in after-hours trading, and had gained about 184% this year through Thursday close.Oppenheimer expected the company to provide an upbeat third-quarter outlook after exceeding second-quarter expectations amid growing customer wins, according to a note sent last Friday.Marvell entered into a deal last week that would allow Alphabet's (GOOG, GOOGL) Google to purchase up to $12.18 billion of Marvell shares.UBS Securities recently raised its second-quarter estimates on Marvell, citing accelerated AI spending by major hyperscalers and strong demand for optical and networking products.Nvidia (NVDA) offered a surprisingly strong fiscal 2028 revenue outlook late Wednesday, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note. The chip giant's fiscal second-quarter results more than doubled from a year ago and topped Wall Street expectations amid record data center sales.Semiconductor manufacturer Broadcom (AVGO) is scheduled to report fiscal third-quarter results Sept. 2.

$AVGO$GOOG$GOOGL$MRVL$NVDA
Wire

Kyndryl Expands Broadcom Alliance With VMware Cloud Foundation Services

Kyndryl (KD) has expanded its Broadcom (AVGO) alliance to provide consulting services for VMware Cloud Foundation, bringing cloud-like speed, automation and developer experience to private and hybrid cloud environments, Kyndryl said Thursday.Under the expanded collaboration, the companies will invest in training several thousand Kyndryl consultants, architects and delivery specialists on VMware Cloud Foundation and agentic workflows, Kyndryl said.The collaboration combines VMware Cloud Foundation's private cloud features with Kyndryl's managed services, Kyndryl said.Kyndryl and Broadcom shares were up 2% and 3%, respectively, in recent Thursday trading.Price: $13.16, Change: $+0.48, Percent Change: +3.79%

$AVGO$KD
Nvidia's Second-Quarter Results More Than Double Amid Record Data Center Sales
US Markets

Nvidia's Second-Quarter Results More Than Double Amid Record Data Center Sales

Nvidia's (NVDA) fiscal second-quarter results more than doubled from a year ago and topped Wall Street expectations amid record data center sales.The technology bellwether's revenue climbed 106% annually to $96.22 billion, exceeding the consensus on FactSet indicating $92.27 billion. Adjusted per-share earnings increased to $2.22 in the three months ended July 26 from $1.01 a year earlier. Analysts expected $2.11.Data center revenue jumped 117% to a record $89.02 billion, driven by its Blackwell Ultra graphics processing unit infrastructure, Chief Financial Officer Colette Kress said. Consensus pointed to $86.30 billion in data center sales."AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue," Chief Executive Jensen Huang said in a statement. "The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment."Vera Rubin is Nvidia's next-generation AI supercomputing platform.Hyperscale revenue rallied 102% from the prior-year quarter, while the AI cloud, industrial and enterprise segment surged 138%."Nvidia has become both the largest direct beneficiary and one of the best real-time indicators of AI infrastructure investment," Ivan Feinseth, chief market strategist at Tigress Financial Intelligence, said in a note to clients this week.For the fiscal third quarter, the company expects consolidated revenue of $108 billion, plus or minus 2%. Wall Street expects $104.86 billion.Wedbush Analyst Matt Bryson expected Nvidia's third-quarter revenue guidance to top expectations, according to a note sent to clients ahead of Wednesday's release. Bryson reiterated his outperform rating and a $330 price target on the company."We again expect (Nvidia) to exceed its guidance and to guide October above Street, given a strong hyperscale spending backdrop that firmed further through (second-quarter) earnings, and a supply position we continue to view as the best in the industry at a point where component and material access, not end demand, is defining shipments," the analyst said.The chipmaker's stock slipped 0.3% in after-hours trading, and had gained about 12% this year through Wednesday close.Earlier in August, Nvidia said it partnered with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital to support its AI infrastructure. Those six firms are Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BAM), Goldman Sachs (GS) and KKR (KKR).Previously, Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative.In August, chipmaker Advanced Micro Devices (AMD) posted fiscal second-quarter results that beat estimates and issued third-quarter revenue guidance above Wall Street's views.Intel's (INTC) second-quarter results topped analysts' consensus in July. Semiconductor manufacturer Broadcom (AVGO) is scheduled to report fiscal third-quarter results Sept. 2.

$AMD$APO$AVGO$BAM$BLK$BX$GS$INTC$KKR$NVDA
Wire

Broadcom Positioned for Fiscal Q3 Beat, Raise on Networking Momentum, RBC Says

Broadcom (AVGO) is positioned for a slight fiscal Q3 beat and raise, driven by ongoing momentum in its networking business, RBC Capital Markets said.Major customers indicate strong demand trends in networking, with growing cluster sizes serving as a key tailwind, the brokerage said. Broadcom's optical segment also presents a near-term growth opportunity, while scale-across and scale-up could be future growth catalysts, RBC added in a Tuesday note.Commentary from key TPU customers also points to accelerating compute demand but long lead times and potential competition could limit the upside. Still, continued TPU adoption and Broadcom's long-term contract should support the company's growth in the next few years, according to the note.The company is set to release its fiscal Q3 results on Sept. 2, and RBC estimates adjusted earnings of $3.22 per share and revenue of $29.40 billion.RBC reiterated its sector perform rating on Broadcom, with a $400 price target.Price: $353.27, Change: $-3.47, Percent Change: -0.97%

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