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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
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.1%.The Philadelphia Semiconductor index shed 2.4%.In corporate news, a senior Nvidia (NVDA) manager was indicted by Taiwanese prosecutors for allegedly organizing, along with eight others, the shipment of 74 servers containing high-end B300 chips into China by way of Japan and Indonesia in order to circumvent US trade restrictions, Bloomberg reported Monday. Separately, Nvidia customers are facing price increases of over 15% on servers equipped with its AI chips due to rising memory costs, Bloomberg reported Saturday. Shares were down 2.4%.RoboStrategy (BOT) shares fell 2.9% after the company released its first shareholder letter.Amazon-backed (AMZN) Anthropic could seek to raise over $100 billion in an initial public offering that could value the AI firm at about $2 trillion, The New York Times reported Friday. Amazon shares were rising 1.4%.Alibaba (BABA) has rolled out its Wan3.0 AI video generation tool, Reuters reported, citing a post on China's WeChat platform. The new model is able to produce 30-second videos from documents, spreadsheets, slides and web pages, the report said. Separately, Alibaba Chief Executive Eddie Wu bought 350,000 shares of the company for about $5 million, according to a regulatory filing. Shares eased 0.2%.

$AMZN$BABA$BOT$NVDA
Sectors

Sector Update: Tech Stocks Fall Monday Afternoon

Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.2%.The Philadelphia Semiconductor index shed 2.7%.In corporate news, Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its AI chips due to rising memory costs, Bloomberg reported Saturday. Separately, Nvidia is discussing an investment in AI startup Perplexity as part of a funding round that would value the firm at over $30 billion, The Information reported Sunday. Nvidia shares fell 2.5%.Amazon-backed (AMZN) Anthropic could seek to raise over $100 billion in an initial public offering that could value the AI firm at about $2 trillion, The New York Times reported Friday. Amazon shares were rising 1.3%.Alibaba (BABA) has officially rolled out its Wan3.0 AI video generation tool, Reuters reported, citing a post on China's WeChat platform. The new model is able to produce 30-second videos from documents, spreadsheets, slides and web pages, the report said. Separately, Alibaba Chief Executive Eddie Wu bought 350,000 shares of the company for about $5 million, according to a regulatory filing with the US Securities and Exchange Commission. Alibaba shares fell 0.1%.NVent Electric (NVT) agreed to buy Maverick Power for $1.75 billion to expand its portfolio of energy equipment offerings for the growing number of data centers, the companies said Monday. NVent shares added 1.6%.

$AMZN$BABA$NVDA$NVT
Wire

Top Midday Stories: Treasury Reportedly Could Use General Account to Fund Buybacks; Trump Raises Tariffs on Canadian Cars and Steel to 50% on Jan. 1

Stocks were mixed in late-morning trading Monday, with the Dow Jones Industrial Average up and the S&P 500 Index and Nasdaq Composite down, as Treasury yields fell after CNBC reported that the US Treasury Department may tap its General Account to help fund its buyback operation.The US will raise tariffs on all cars, trucks, automotive parts and steel from Canada to 50%, effective Jan. 1, 2027, President Donald Trump said Monday on Truth Social.In company news, Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its artificial intelligence chips due to rising memory costs, Bloomberg reported Saturday, citing people familiar with the matter. The price hikes will impact systems shipped early next year, including those with Vera Rubin and Grace Blackwell chips, the report said, citing the people. Separately, Nvidia is discussing an investment in AI startup Perplexity as part of a funding round that would value the company at more than $30 billion, The Information reported Sunday, citing people familiar with the talks. The round could be worth billions of dollars and would increase Perplexity's valuation by more than 50% from its last financing, the report said. Nvidia shares were down 2.2% around midday.Alibaba (BABA) has officially rolled out its Wan3.0 AI video generation tool, Reuters reported Monday, citing a post on China's WeChat platform. The new model is able to produce 30-second videos from documents, spreadsheets, slides and web pages, the report said. Separately, Alibaba Chief Executive Eddie Wu bought 350,000 shares of the company for about $5 million, according to a regulatory filing with the US Securities and Exchange Commission. Alibaba shares were up 0.7%.PDD (PDD) reported Q2 non-GAAP earnings Monday of 19.33 Chinese renminbi ($2.88) per diluted American depositary share, down from 22.07 renminbi a year earlier but above the FactSet consensus analyst estimate of 18.45 renminbi. Second-quarter revenue was 112.36 billion renminbi, up from 103.99 billion renminbi a year ago but below the FactSet consensus of 115.09 billion renminbi. PDD shares were down 1.9%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter. Shell shares were down 0.5%, while Exxon, LyondellBasell and Apollo shares were down 1.6%, down 2.2% and up 0.2%, respectively.H.B. Fuller's (FUL) board has rejected Ancora's bid to acquire its building adhesives unit for up to $1.2 billion, the company said Monday. The board concluded Ancora's bid undervalued the unit and failed to take into account its potential to be a significant driver of earnings in the future, the company said. H.B. Fuller shares were down 0.9%.Braskem (BAK) filed for out-of-court restructuring Monday, which involved more than $10 billion in debt, Reuters reported, citing people familiar with the matter. The filing, which comes as the petrochemical company's 60-day creditor protection period expires, provides an extra 90 days to negotiate a final restructuring plan with creditors, according to the report. Braskem shares were down 4.3%.Paramount Skydance's (PSKY) Monday meeting with California officials was canceled after State Attorney General Rob Bonta accused the company of leaking details and negotiating in bad faith over its proposed acquisition of Warner Bros. Discovery (WBD), The New York Times reported. Paramount shares were down 0.8%, while Warner Bros. shares were up 0.7%.Zillow Group (Z) said Monday it has resolved a lawsuit brought by the US Federal Trade Commission and five states over its partnership with Redfin. Under the agreement, Zillow and Redfin are allowed to continue their partnership, which aims to provide multifamily rental listings from both companies. Zillow shares were up 2.3%.Price: $210.12, Change: $-4.60, Percent Change: -2.14%

$APO$BABA$BAK$FUL$LYB$NVDA$PDD$PSKY$SHEL$WBD$XOM$Z
Temu Parent PDD Second-Quarter Earnings Top Views; Revenue Falls Short
US Markets

Temu Parent PDD Second-Quarter Earnings Top Views; Revenue Falls Short

PDD (PDD) reported second-quarter earnings ahead of Wall Street estimates on Monday even as operating expenses rose annually, though revenue fell short of expectations.The Chinese e-commerce platform posted adjusted earnings of 19.33 renminbi ($2.88) per American depositary share for the June quarter, down from 22.07 renminbi the year before. The FactSet-polled consensus was for 18.45 renminbi.PDD's Nasdaq-listed American depositary receipts edged 0.5% higher in Monday trade. The company owns the Pinduoduo social commerce platform in China and Temu, an e-commerce marketplace in North America.Revenue gained 8% to 112.36 billion renminbi, but trailed the Street's view of 115.09 billion renminbi. Revenue from online marketing services improved to 57.64 billion renminbi from 55.7 billion renminbi in the prior-year period, while transaction services climbed 13% to 54.72 billion renminbi."Total revenue came in below consensus mainly due to softer transaction service partially offset by better online marketing," Jefferies equity analysts Thomas Chong and Zoey Zong said in a note emailed toon Monday. The consensus for transaction services revenue growth was about 22%, according to the brokerage.Total operating expenses rose 13% to 36.58 billion renminbi, mainly due to higher sales and marketing costs, PDD said."We stepped up our ecosystem investments in the second quarter," Vice President of Finance Jun Liu said. "At this stage, our priority is helping merchants thrive and strengthening the broader industry ecosystem."Last week, Chinese e-commerce giant Alibaba (BABA) reported weaker-than-expected fiscal first-quarter earnings as it continued to spend heavily to build artificial intelligence infrastructure. Earlier in August, JD.com (JD) recorded second-quarter results above expectations.In the US, Amazon.com (AMZN) reported second-quarter results ahead of market views last month amid cloud-computing business strength. E-commerce company eBay (EBAY) beat quarterly estimates earlier in August.Price: $88.42, Change: $+0.04, Percent Change: +0.04%

$AMZN$BABA$EBAY$JD$PDD
Commodities

Exchange-Traded Funds, Equity Futures Fall Pre-Bell Monday as Investors Await Details on US Sanctions Against Iran

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.6% higher in Monday's premarket activity as investors await details of US President Donald Trump's planned sanctions on Iran.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures retreating 0.5% before the start of regular trading.In premarket activity, bitcoin was up by 1.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.3% higher, Ether ETF (EETH) advanced 3.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2.3%.The Chicago Federal Reserve Bank's monthly National Activity Index fell to a reading of negative 0.08 in July from 0.06 in June, compared with expectations for a smaller decrease to negative 0.05 in a Bloomberg survey.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, the iShares US Technology ETF (IYW) was 0.5% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined 1.3% while the iShares Semiconductor ETF (SOXX) fell 1.6%.Parsons (PSN) shares were up nearly 2% after the company said it received a $514 million contract option from the United States Department of Defense's Missile Defense Agency to provide engineering and technical support.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.5%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.1% higher, and the iShares US Consumer Staples ETF (IYK) was 0.4% lower. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 1.1%%.Alibaba Group (BABA) shares were down more than 2% pre-bell a day after the company priced a placement of 710 million new shares at 112.70 Hong Kong dollars ($14.38) apiece in Hong Kong for about HK$80 billion in proceeds.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.4%, while the iShares US Healthcare ETF (IYH) fell 3%. The iShares Biotechnology ETF (IBB) gained 0.3%.GSK's (GSK) stock was down 1% despite the company announcing positive regulatory updates, including approval for Hibsago in Japan and a priority review for Jemperli in the US.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% lower.Aegon (AEG) shares traded up 1% in early-hours activity after the company said it has increased its H2 share buyback program by 150 million euros ($174.9 million) to 350 million euros, effective Monday.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.01%, the Vanguard Industrials Index Fund (VIS) was down 0.1%, and the iShares US Industrials ETF (IYJ) rose 2%.United Airlines (UAL) stock was up more than 1% before the opening bell after CNBC reported Sunday that the air carrier is set to return to JFK airport through a partnership with JetBlue Airways (JBLU) as early as 2027. JetBlue stock also rose 1%.EnergyThe iShares US Energy ETF (IYE) was down 1%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.3% lower.Eni (E) stock was up more than 1% before market open, extending the previous session's loss. The Financial Times reported Monday that the company is expanding its investment in nuclear fusion, targeting a commercial fusion plant in Europe by the early 2040s or sooner.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.7% to reach $85.55 per barrel on the New York Mercantile Exchange. Natural gas was up 1.5% at $2.82 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased 1.3%, while the United States Natural Gas Fund (UNG) was 3.4% higher.Gold futures for November were up by 0.7% at $4,716.00 an ounce on the Comex. Silver futures gained 0.4% to reach $70.05 an ounce. SPDR Gold Shares (GLD) rose 1.1%, and the iShares Silver Trust (SLV) was 0.2% lower.

Dow JonesNasdaq CompositeS&P 500$AEG$BABA$BETH$BITO$E$EEM$EETH$EXI$FAS$FAZ$GLD$GSK$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$JBLU$PMR$PSN$QQQ$RTH$SLV$SOXX$SPY$UAL$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Consumer Stocks Edge Higher Pre-Bell Monday

Consumer stocks were edging higher pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.1%.PDD (PDD) shares were up more than 3% after the company reported higher Q2 revenue, while non-GAAP earnings topped analysts' expectations.Alibaba Group (BABA) stock was down more than 1% after the company priced a placement of 710 million new shares at 112.70 Hong Kong dollars ($14.38) apiece in Hong Kong for about HK$80 billion in proceeds.Philip Morris International (PM) entered into a contract manufacturing arrangement with Philip Morris USA, an operating company of Altria (MO), for combustible cigarettes, the company said. Philip Morris International shares were up 0.4% premarket.

$BABA$MO$PDD$PM$XLP$XLY
Asia Markets

Update: US-Canada Tariff Situation Nudges US Equity Futures Lower Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Monday as traders assessed the tariff situation between the US and Canada after trade negotiations between the two countries failed.Dow Jones Industrial Average futures were flat, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.5% lower.Trade talks between the US and Canada failed and the US on Saturday imposed 50% tariffs on around $20 billion worth of imports from its neighbor in the north. Canadian Prime Minister Mark Carney said he planned to retaliate with tariffs starting Sept. 8. "Canada wants the benefits of being a State, without being one!!!" President Donald Trump said in a post Sunday on Truth Social.US Treasury Secretary Scott Bessent is set to give details at 2 pm ET on Monday about "economic D-Day" against Iran, which would be "greatest financial offensive ever," Reuters reported, citing an opinion piece by the official published in Financial Times on Sunday.Traders digested the latest round of earnings, with PDD (PDD) reporting lower Q2 non-GAAP earnings and higher revenue.Nvidia (NVDA) and CrowdStrike (CRWD), among others, are expected to report financial results this week.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.4% at $91.38 per barrel and US West Texas Intermediate crude 1.8% lower at $85.53 per barrel.The Chicago Fed national activity index for July came in at negative 0.08, compared with 0.06 previously and expectations for a reading of negative 0.05 in a survey compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng ended 1.9% lower, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 and Germany's DAX index were flat in Europe's early afternoon session.In equities, PDD shares rose 3.2% after the company posted better-than-expected Q2 non-GAAP earnings. United Airlines (UAL) stock was up 1.4% after a CNBC report on Sunday citing Chief Executive Scott Kirby that the company is looking to expand its footprint internationally and at the John F. Kennedy International Airport in New York. InterContinental Hotels Group (IHG) shares were 2% higher after the company said it signed a 14-hotel portfolio conversion deal with GCP Hospitality, a unit of Gaw Capital Group.On the losing side, Alibaba Group (BABA) stock was down 2% after the company said Sunday it priced a placement 710 million new shares at 112.70 Hong Kong dollars ($14.38) apiece in Hong Kong for about HK$80 billion in proceeds. TotalEnergies (TTE) shares fell 1.1% after a Reuters report citing Chief Executive Patrick Pouyanne that the company will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region.

Dow JonesNasdaq CompositeS&P 500$BABA$CRWD$IHG$NVDA$PDD$TTE$UAL
Insider Trading

Alibaba Group Holding Insider Bought Shares Worth $4,984,000, According to a Recent SEC Filing

Yongming Wu, Director, Chief Executive Officer, on August 24, 2026, executed a purchase for 350,000 shares in Alibaba Group Holding (BABA) for $4,984,000. Following the Form 4 filing with the SEC, Wu has control over a total of 13,792,418 ordinary shares of the company, with 1,364,418 shares held directly and 12,428,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1577552/000119312526361711/xslF345X05/ownership.xml

$BABA
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Rise in Friday Trading; End Week Lower

Asian equities traded in the US as American depositary receipts were tracking higher Friday morning, rising 0.58% to 2,993.52 on the S&P Asia 50 ADR Index, which is down 0.71% for the week so far.From North Asia, the gainers were led by online game developer The9 (NCTY) and education company 51Talk Online Education Group (COE), which climbed 13% and 5.2%, respectively. They were followed by lender Shinhan Financial Group (SHG) and online entertainment service iQIYI (IQ), which increased 4% and 3.6%, respectively.The decliners from North Asia were led by tech company Alibaba Group (BABA) and polysilicon manufacturer Daqo New Energy (DQ), which fell 6.6% and 6.1%, respectively. They were followed by game live-streaming service DouYu International (DOYU) and used car marketplace Uxin (UXIN), which were down 4.2% and 1.7%, respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and telecommunications operator Telekomunikasi Indonesia (TLK), which advanced 24% and 1.6%, respectively. They were followed by lenders ICICI Bank (IBN) and HDFC Bank (HDB), which were up 1.1% and 1%, respectively.The only decliners from South Asia were IT firm Wipro (WIT) and telecommunications operator PLDT (PHI), which were down 1.1% and 0.1%, respectively.

$BABA$CAN$COE$DOYU$DQ$HDB$IBN$IQ$NCTY$PHI$SHG$TLK$UXIN$WIT
Sectors

Sector Update: Tech Stocks Decline Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 1.5%.The Philadelphia Semiconductor index increased 0.1%.In sector news, Australia has passed a law ordering Meta Platforms' (META) Facebook and Instagram, Alphabet's (GOOGL) Google, Microsoft's (MSFT) LinkedIn and ByteDance's TikTok to pay millions of dollars if they don't forge commercial deals with media outlets for posting news on their platforms, Reuters reported.In corporate news, Meta Platforms has become one of Microsoft's largest AI customers, as the social media company is spending hundreds of millions of dollars per year to access AI models via Microsoft's Azure cloud service, Bloomberg reported. Meta shares were down 0.8%, and Microsoft decreased 0.3%.Alibaba's (BABA) fiscal Q1 earnings missed expectations even as revenue edged past Wall Street's views, while the company continued to spend heavily to build AI infrastructure. Alibaba shares were down 0.1%.SpaceX (SPCX) approached Cognition AI about a potential takeover, Bloomberg reported. There are currently no active deal talks between SpaceX and the AI coding startup, but they continue to discuss a potential partnership, the report said. SpaceX shares were down 6.5%.Micron Technology (MU) on Thursday unveiled Micron Research Labs, a research institution in Boise, Idaho, backed by a planned $10 billion investment over the next decade. Micron shares rose 2%.

$BABA$META$MSFT$MU$SPCX
Alibaba First-Quarter Earnings Fall Short Amid AI Infrastructure Investment
US Markets

Alibaba First-Quarter Earnings Fall Short Amid AI Infrastructure Investment

Alibaba's (BABA) fiscal first-quarter earnings missed expectations even as revenue edged past Wall Street's views, while the Chinese e-commerce giant continued to spend heavily to build artificial intelligence infrastructure.The company reported non-GAAP earnings per American depositary share of 8.52 Chinese renminbi ($1.27) for the June quarter, compared with 14.75 renminbi a year earlier. That's weaker than the FactSet-polled consensus of 10.14 renminbi. Revenue grew 9% to 268.95 billion renminbi, while analysts expected 268.48 billion renminbi.Capital expenditures surged 75% to 67.68 billion renminbi, partly reflecting higher prices of chip components, the company said."The significant year-over-year increase was due to several reasons, including fluctuations in procurement cycles, increase in (central processing unit) compute capacity driven by anticipated growing customer adoption of AI agents, and higher pricing of a broad range of chip components," the company said in a statement.Alibaba's New York Stock Exchange-listed shares were down 1.2% in Thursday trade.The company booked a cash burn of 44.67 billion renminbi for the quarter, compared with an outflow of 18.82 billion renminbi in the same year-earlier period.Last month, Amazon.com (AMZN) reported second-quarter results that topped Wall Street's views amid cloud-computing business strength, while the US e-commerce giant lifted its capex guidance.First-quarter revenue from Alibaba's e-commerce group rose 4% to 205.86 billion renminbi, while AI cloud and computer services revenue surged 45% to 48.44 billion renminbi.Last month, Morgan Stanley expected Alibaba's first-quarter cloud revenue growth to accelerate to 45% year over year, with momentum seen improving in the coming quarters."Compute demand will continue to outstrip supply," Alibaba Chief Executive Eddie Wu said during an earnings call, according to a FactSet transcript. "As we continue to ramp up our supply, our AI and cloud revenue growth will accelerate further in the coming quarters alongside continued improvement in profitability."Price: $126.80, Change: $-2.11, Percent Change: -1.63%

$AMZN$BABA
Wire

Top Midday Stories: Treasury Yields Back on the Rise; Walmart Shares Fall After Full-Year EPS Guidance Undershoots Estimates

All three major US stock indexes were down in late-morning trading Thursday, as yields on Treasury bonds reversed course from their Wednesday drop following the Treasury's debt buyback announcement.In company news, Walmart (WMT) reported fiscal Q2 adjusted earnings Thursday of $0.81 per share, up from $0.68 a year earlier and above the FactSet consensus analyst estimate of $0.74. Fiscal Q2 revenue was $187.94 billion, up from $177.40 billion a year ago and above the FactSet consensus of $186.62 billion. For fiscal Q3, the company expects adjusted EPS of $0.62 to $0.64, below the FactSet consensus of $0.68. For fiscal 2027, Walmart expects adjusted EPS of $2.80 to $2.87, up from its prior outlook of $2.75 to $2.85 but below the FactSet consensus of $2.90. Full-year net sales are expected to grow 4% to 5%, compared with previous guidance of 3.5% to 4.5%. Walmart shares were down 9.4% around midday.Virtu Financial (VIRT) is exploring a potential sale of its brokerage and technology unit in a deal that could be worth up to $3.5 billion to $4 billion, Bloomberg reported Thursday, citing a person familiar with the matter. Sale talks are in early stages, and Virtu may decide to keep the division, the sources said. Virtu shares were down 0.6%.Meta Platforms (META) has become one of Microsoft's (MSFT) largest artificial intelligence customers, as the social media company is spending hundreds of millions of dollars per year to access AI models through Microsoft's Azure cloud service, Bloomberg reported Thursday, citing a person familiar with the matter. Meta shares were down 0.4%, while Microsoft shares were down 0.7%.Alibaba Group (BABA) reported fiscal Q1 non-GAAP earnings Thursday of 8.52 Chinese renminbi ($1.26) per diluted American depositary share, down from 14.75 renminbi a year earlier and below the FactSet consensus of 10.14 renminbi. Fiscal Q1 revenue was 268.95 billion renminbi, up from 247.65 billion renminbi a year ago and above the FactSet consensus of 268.48 billion renminbi. Alibaba shares were down 2.1%.SpaceX (SPCX) approached Cognition AI about a potential acquisition, Bloomberg reported late Wednesday, citing people familiar with the matter. There are currently no active deal talks between SpaceX and the AI coding startup, but they continue to discuss a potential collaboration, the report said. SpaceX shares were down 5.3%.Micron Technology (MU) on Thursday unveiled Micron Research Labs, a research institution in Boise, Idaho, backed by a planned $10 billion investment over the next decade. The facility will focus on critical memory technologies, advanced memory and compute architectures, packaging and future semiconductor manufacturing, Micron said, adding that it plans to begin construction in 2027. Micron shares were up 2.2%.Price: $103.61, Change: $-10.69, Percent Change: -9.35%

$BABA$META$MSFT$MU$SPCX$VIRT$WMT
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Decline in Thursday Trading

Asian equities traded in the US as American depositary receipts were trending lower Thursday morning, declining 0.34% to 2,958.28 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by diagnostic imaging center company Concord Medical Services (CCM) and online brokerage UP Fintech (TIGR), which rose 3.1% and 3%, respectively. They were followed by education company 17 Education & Technology Group (YQ) and semiconductor company ASE Technology (ASX), which were up 2.6% and 2.2%, respectively.The decliners from North Asia were led by video-sharing platform Bilibili (BILI) and tech company Alibaba Group (BABA), which fell 3.7% and 3.1%, respectively. They were followed by music streaming service Tencent Music Entertainment Group (TME) and online game developer The9 (NCTY), which were down 2.4% and 1.7%, respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and lender ICICI Bank (IBN), which climbed 11% and 0.7%, respectively. They were followed by telecommunications operator PLDT (PHI) and lender HDFC Bank (HDB), which increased 0.6% and 0.2%, respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which dropped 2% and 1.8%, respectively. They were followed by IT firm Wipro (WIT) and telecommunications operator Telekomunikasi Indonesia (TLK), which lost 1.5% and 0.5%, respectively.

$ASX$BABA$BILI$CAN$CCM$HDB$IBN$INFY$NCTY$PHI$SE$TIGR$TLK$TME$WIT$YQ
Wire

Update: Alibaba Shares Fall After Fiscal Q1 Adjusted Earnings Miss

(Updates with the company's stock move in the headline and first paragraph.)Alibaba Group's (BABA) shares were down more than 2% in Thursday trading after its fiscal Q1 non-GAAP earnings missed Wall Street expectations.The company reported fiscal Q1 non-GAAP earnings of 8.52 Chinese renmimbi ($1.26) per diluted American depositary share, down from 14.75 renminbi a year earlier.Analysts polled by FactSet expected 10.14 renminbi.Revenue for the quarter ended June 30 was 268.95 billion renminbi, up from 247.65 billion renminbi a year earlier.Analysts expected 268.48 billion renminbi.Price: $126.18, Change: $-2.72, Percent Change: -2.11%

$BABA
Sectors

Sector Update: Consumer Stocks Lean Lower Premarket Thursday

Consumer stocks were leaning lower premarket Thursday, with the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 1.1% and the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining by 1.3%.Walmart (WMT) shares were down more than 7% after the company issued fiscal Q3 adjusted earnings per share outlook below analysts' expectations, while its updated fiscal 2027 adjusted EPS guidance still undershot consensus.Alibaba Group (BABA) stock was down more than 5% after the company posted a decline in fiscal Q1 non-GAAP earnings, also missing analysts' consensus.Youdao (DAO) shares were up more than 5% after the company reported higher Q2 non-GAAP net income and net revenue.

$BABA$DAO$WMT$XLP$XLY
Asia Markets

Update: US Equity Futures Fall Pre-Bell as US Threatens Iran's Trade Partners

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders monitored the situation in the Middle East, with the US announcing further economic pressure on Iran and threatening its trade partners.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.5%, and Nasdaq futures were 0.8% lower.President Donald Trump said that Iran will be subject to economic warfare "on an unprecedented scale," while also threatening economic consequences on any country that assists or does business with the Middle Eastern nation. "Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies - It all needs to stop NOW," Trump said in a post on Truth Social.Iran's Foreign Minister Seyed Abbas Araghchi in a post on X dismissed Trump's threat, calling it a diversion from America's challenges of "unprecedented debt & surging interest costs."Traders assessed the latest round of earnings, with Walmart (WMT) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3% at $94.33 per barrel and US West Texas Intermediate crude 3.5% higher at $87.35 per barrel.Initial jobless claims fell to 206,000 in the week ended Aug. 15 from 212,000 in the previous week, compared with expectations for a decrease to 210,000. The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August from 41.4 in July, compared with expectations for a drop to a reading of 24.8.July's leading indicators data is scheduled to be released 10 am ET.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.8% higher, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.5%, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, SK hynix (SKHY) stock was up 1.8% after The Korea Herald reported that the company and its labor union reached a tentative agreement to pay 60% of the chipmaker's profit-sharing bonuses in company shares. Shares of Exxon Mobil (XOM), Shell (SHEL), and TotalEnergies (TTE) were on the upswing as oil prices jumped. Exxon Mobil stock was up 1.8%, Shell shares rose 1.5%, and TotalEnergies stock was 2.3% higher.On the losing side, Walmart shares fell 6.6% after the company's fiscal Q3 adjusted EPS outlook fell short of analysts' consensus. Alibaba Group (BABA) stock was down 5.8% after the company reported lower-than-expected fiscal Q1 non-GAAP earnings. CrowdStrike (CRWD) shares were 3% lower after the company's global Chief Technology Officer Elia Zaitsev said in a LinkedIn post that he has stepped down from his role to launch an early-stage venture capital fund focused on cybersecurity.

Dow JonesNasdaq CompositeS&P 500$BABA$CRWD$SHEL$SKHY$TTE$WMT$XOM
Sectors

Sector Update: Tech Stocks Fall in Afternoon Trading

Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping nearly 6%.The Philadelphia Semiconductor index fell 5.4%.In corporate news, Alphabet's (GOOGL) Google has informed suppliers it plans to have its Pixel smartphones, watches and Bluetooth earbuds made outside of China starting next year, Nikkei Asia reported. The move comes amid continuing tension between the US and China, the report said. Alphabet shares were down 0.2%.Baidu (BIDU) reported lower-than-expected Q2 results on Tuesday amid weakness in its online marketing business, even though it recorded double-digit growth in its core AI-powered operations. Its shares dropped nearly 13%.Amazon-backed (AMZN) Anthropic saw its annual revenue run rate rise above $65 billion by the end of July, Reuters reported. The figure represents a sharp rise from about $47 billion in May and from roughly $9 billion at year-end 2025, Reuters said. Amazon shares were down 0.2%.Alibaba (BABA) has reached a deal to sell Lingxi Games for at least $1.5 billion to Trustar Capital, a private equity fund affiliated with China International Trust and Investment, Nikkei Asia reported, citing Bloomberg. Alibaba shares rose 2.4%.

$AMZN$BABA$BIDU$GOOGL
Wire

Market Chatter: Alibaba to Sell Lingxi Games for at Least $1.5 Billion

Alibaba Group (BABA) has reached a deal to sell Lingxi Games for at least $1.5 billion to Trustar Capital, a private equity fund affiliated with China International Trust and Investment Corporation, Nikkei Asia reported Tuesday, citing Bloomberg.This deal comes as top Chinese technology companies restructure their video game and retail operations to focus more on artificial intelligence, according to the report.Alibaba did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $127.46, Change: $+2.75, Percent Change: +2.21%

$BABA
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Track Lower in Tuesday Trading

Asian equities traded in the US as American depositary receipts were tracking lower Tuesday morning, declining 1.03% to 2,988.00 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by pharmaceutical company Takeda Pharmaceutical (TAK) and fashion platform MOGU (MOGU), which rose 4.3% and 3.3% respectively. They were followed by tech company Alibaba Group (BABA) and game live-streaming platform HUYA (HUYA), which were up 2.8% and 1.5% respectively.The decliners from North Asia were led by internet and data center services provider VNET Group (VNET) and semiconductor company ASE Technology (ASX), which fell 9.3% and 8.6% respectively. They were followed by tech company Baidu (BIDU) and automotive marketplace Token Cat (TC), which lost 8.5% and 5.7% respectively.From South Asia, the only gainers were lender ICICI Bank (IBN) and IT firm Infosys (INFY), which were up 0.4% and 0.1% respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and computer hardware maker Canaan (CAN), which dropped 3.5% and 3.3% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator Telekomunikasi Indonesia (TLK), which were off 0.4% and 0.3% respectively.

$ASX$BABA$BIDU$CAN$HUYA$IBN$INFY$MOGU$RDY$SE$TAK$TC$TLK$VNET

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