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Dell in 'Strong' Position to Continue to Outperform Amid AI Infrastructure Buildout, Wedbush Says
US Markets

Dell in 'Strong' Position to Continue to Outperform Amid AI Infrastructure Buildout, Wedbush Says

Dell Technologies (DELL) is in a "strong" position to continue to outperform amid the ongoing artificial intelligence infrastructure buildout, Wedbush Securities said in a note.Late Thursday, the computer maker raised its fiscal 2027 outlook after posting record first-quarter results that surpassed Wall Street's estimates amid a surge in demand for AI-optimized servers. The company secured $24.4 billion in AI orders and reported $16.1 billion of AI server revenue.Dell shares were up 32% in Friday late-afternoon trade, stretching its year-to-date gains to nearly 231%."With over 5,000 AI server customers and continued conversations around price increases from supply constraints through (the second half of 2027, Dell has) a strong position to continue outperforming within the AI infrastructure buildout," Wedbush analyst Dan Ives said in a note e-mailed late Thursday. "Inference workloads are driving higher demand for traditional compute, and Dell is capitalizing on a new refresh opportunity on the horizon."The company continues to see "exceptionally strong" opportunity in AI amid robust demand, Chief Operating Officer Jeff Clarke said on an earnings conference call, according to a FactSet transcript."We exited the quarter with a record $51.3 billion of AI backlog, and our pipeline continued to grow sequentially, and remains multiples of our backlog even after converting $24.4 billion into orders," Clarke said. "Demand continues to exceed supply with memory as the primary constraint. And we expect to exit the year with meaningful backlog."Dell's new full-year revenue outlook calls for $165 billion to $169 billion. This includes $60 billion of AI-optimized server revenue, Chief Financial Officer David Kennedy said on the call."The AI infrastructure buildout is now moving beyond solely (graphics processing units), with demand for (central processing units) and now servers accelerating and outstripping existing supply, with more customers looking to refresh compute environments to support growing AI workloads," Ives said.Price: $416.93, Change: $+99.88, Percent Change: +31.50%

$DELL
Sectors

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Friday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.7%.The Philadelphia Semiconductor index gained 0.1%.In corporate news, Dell Technologies (DELL) shares surged 32% a day after the company reported fiscal Q1 results that topped estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.SentinelOne (S) shares fell 9%. The cybersecurity company delivered a solid Q1 performance that appears to be sustainable amid strong underlying trends, BofA Securities said, with the sell-off tied to "conservative" guidance that has raised questions around growth durability.IBM (IBM) shares jumped 14% a day after the company said it plans to invest more than $10 billion over the next five years to support quantum computing development.NetApp (NTAP) shares soared 25% a day after the company reported fiscal Q4 results that topped estimates.

$DELL$IBM$NTAP$S
Japan

US Equity Indexes Break Records Ahead of Trump's Announcement on Iran Peace Deal

US equity indexes hit all-time highs as technology shares surged ahead of President Donald Trump's decision on Friday on a preliminary Iran peace agreement.The Nasdaq Composite climbed 0.2% to 26,970.1, with the S&P 500 up 0.3% to 7,583.1, and the Dow Jones Industrial Average higher by 0.7% to 51,030.2 ahead of Friday's close.Dell Technologies (DELL) shares catapulted 30%, the top gainer on the S&P 500, after the company reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.President Donald Trump said Friday on Truth Social that he is meeting now in the Situation Room to make a final determination on the memorandum of understanding between the US and Iran.The ceasefire would need to include reopening the Strait of Hormuz and dismantling Tehran's capacity to make a nuclear weapon, the president has said previously.Iranian officials have used the talks to project confidence that they retain significant military options should diplomacy fail, CNN reported Friday. Any renewed conflict would spread "far beyond the region," threatening "crushing blows" and "utter ruin" in places opponents "cannot even imagine," the Iranian Revolutionary Guards were cited as saying.Brent crude futures fell 1.8% to $91.99, and West Texas Intermediate crude oil futures declined 2% to $87.11, both trading close to their respective session lows.

Dow JonesNasdaq CompositeS&P 500$DELL
Equity Markets Rise Intraday as Trump Sets Out Conditions For Iran Deal
US Markets

Equity Markets Rise Intraday as Trump Sets Out Conditions For Iran Deal

Equities on Wall Street rose intraday as President Donald Trump laid out conditions that Iran must agree to as part of a peace agreement.The Dow Jones Industrial Average was up 0.6% at 50,979.9 after midday Friday, while the Nasdaq Composite rose 0.3% to 26,988.6. The S&P 500 added 0.3% to 7,584.8. All three indexes logged closing highs in the previous session.Barring technology and financials, all sectors were in the red, led by consumer staples.In a social media post Friday, Trump said he was heading to the White House Situation Room "to make a final determination" regarding the Middle East conflict. He also announced an end to the naval blockade of Iranian ports.Trump said that Iran must permanently forgo capabilities that lead to nuclear weapon development and allow unrestricted shipping traffic through the Strait of Hormuz.Axios reported Thursday that the US and Iran had agreed to a memorandum of understanding to extend a ceasefire between the countries and begin talks on Tehran's nuclear program. However, Trump hadn't signed off on the deal, according to the report.West Texas Intermediate crude oil was down 2.5% at $86.70 a barrel intraday, while Brent fell 2% to $91.81."While significant hurdles remain, the market is reacting to the prospect of a supply surge once hundreds of tankers loaded with crude oil and refined fuels are released from the Persian Gulf," Saxo Bank said in report Friday. "In the months ahead, however, demand to replenish depleted global inventories is likely to provide support, potentially lifting the price floor compared with pre-war levels."US Treasury yields were mixed intraday, with the 10-year rate little changed at 4.44% and the two-year rate falling 2.7 basis points to 4%.A sharp jump in Treasury yields following the Middle East conflict is unlikely to dampen investor appetite for equities, given corporate earnings growth and excitement surrounding artificial intelligence, Wells Fargo Investment Institute said in a note.In company news, Dell Technologies (DELL) shares were up nearly 29% intraday, the best performer on the S&P 500. Late Thursday, the company reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers. It raised its fiscal 2027 outlook.NetApp (NTAP) surged 26% after announcing its quarterly results, the second-biggest gainer on the S&P 500.Other tech names were also notable gainers intraday, including Salesforce (CRM), which advanced 9%, IBM (IBM) and Microsoft (MSFT).Sentinelone (S) shares were down 6.3% intraday. The cybersecurity company delivered a solid first-quarter performance that appears to be sustainable amid strong underlying trends, BofA Securities said in a Friday client note.The brokerage attributed the sell-off to the company's "conservative" guidance that raises questions around growth durability. But BofA views the pullback as an attractive entry point for investors, citing underlying momentum.Gold was up 1.6% at $4,602.50 per troy ounce, while silver edged up 0.1% to $76 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$DELL$IBM$MSFT$NTAP$S
Research

Research Alert: CFRA Maintains Buy Opinion On Shares Of Dell Technologies Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We sharply lift our price target to $465 from $263, 23x our FY 28 (Jan.) EPS view, well above DELL's three-year average (~11x) on massive AI tailwinds. We raise our FY 27 EPS view by $5.21 to $18.16 and lift FY 28's by $5.15 to $20.20. DELL delivered a blowout Q1, with sales up 88% to $43.8B, fueled by insatiable AI server demand, where sales grew by an eye-popping 757% to $16.1B and bookings came in higher at $24.4B (AI backlog up 19% Q/Q to $51.3B). Pull-ins are playing a factor, but we think core demand remains impressive and durable, supported by DELL's AI pipeline incredibly remaining "multiples above" its backlog total. Growing demand for inference/agentic products has also encouraged more edge computing/CPU/storage workloads, broadening DELL's exposure to AI upside. This was clearly demonstrated in Q1, with Traditional Servers (19% of sales) growing by 92% Y/Y and seeing "significant unit growth," while Storage (10%) grew by 8% with improving margins. CSG grew 17%, supported by PC refreshes/AI PCs.

$DELL
Sectors

Sector Update: Tech Stocks Mixed Friday Afternoon

Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.6%.The Philadelphia Semiconductor index was decreasing 0.1%.In corporate news, Dell Technologies (DELL) shares surged past 28% after it reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.SentinelOne (S) shares fell 5.5%. The cybersecurity company delivered a solid Q1 performance that appears to be sustainable amid strong underlying trends, BofA Securities said in a Friday client note. The brokerage attributed the sell-off to the company's "conservative" guidance that raises questions around growth durability.IBM (IBM) shares jumped 10% after the company said it plans to invest more than $10 billion over the next five years to support quantum computing development.

$DELL$IBM$S
Sectors

Sector Update: Tech

Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.6%.The Philadelphia Semiconductor index was 0.1% higher.In corporate news, Dell Technologies (DELL) shares jumped past 28% after it reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.

$DELL
Asia Markets

US Equity Indexes Scale New Peaks Amid Tech Gains as Trump Close to Making Decision on Iran Peace Deal

US equity indexes rose amid a surge in technology names and as President Donald Trump appeared close to announcing his decision on a preliminary Iran peace agreement.The Nasdaq Composite climbed 0.4% to 27,031.2, with the S&P 500 up 0.4% to 7,593.9, and the Dow Jones Industrial Average higher by 0.8% to 51,077.9 after midday on Friday.Materials and financials were the only other sectors in positive territory intraday. Consumer staples, communication services, and energy led the decliners.Dell Technologies (DELL) shares catapulted 28%, the top gainer on the S&P 500, after the company reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.President Donald Trump is making a "final determination" on a preliminary deal to extend a ceasefire with Iran after mixed messages from both sides over when an agreement might be struck, he said on Friday, according to a report from Bloomberg."I will be meeting now, in the Situation Room, to make a final determination," Trump said in a social media post.Iranian officials have used the talks to project confidence that they retain significant military options should diplomacy fail, CNN reported Friday. Any renewed conflict would spread "far beyond the region," threatening "crushing blows" and "utter ruin" in places opponents "cannot even imagine," the Iranian Revolutionary Guards were cited as saying.Brent crude futures fell 1.7% to $92.05, and West Texas Intermediate crude oil futures declined 1.1% to $87.80.In precious metals, gold futures jumped 1.3% to $4,592.8, while silver futures slipped by less than 0.1% to $75.85.Most US Treasury yields fell, with the 10-year down 2.1 basis points to 4.43%. The two-year declined 3.5 basis points to 3.99%.In economic news, the Institute for Supply Management's Chicago PMI reading jumped to 62.7 in May from 49.2 in April, larger than the expected 50.3 reading in a survey compiled by Bloomberg and the highest reading in over four years.Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she is seeking greater clarity on the Middle East conflict before determining the monetary policy path forward."Economic research suggests that, in response to temporary adverse energy supply shocks, policy should not be overly aggressive at stabilizing total inflation to keep employment close to our maximum-employment goal," Bowman said at the Reykjavik Economic Conference.Further in company news, Costco Wholesale (COST) posted higher fiscal Q3 earnings and revenue late Thursday. The company's net new warehouse openings in fiscal 2026 are, however, set to be below its previous guidance, according to an earnings conference call following the results. Its shares dropped 4.7%, among the worst performers on the Nasdaq.The Dow's leader was IBM (IBM), with shares soaring 9.5%, after the company said in a filing that it plans to invest more than $10 billion over the next five years to support quantum computing development.

Dow JonesNasdaq CompositeS&P 500$COST$DELL$IBM
Wire

Top Midday Gainers

NetApp (NTAP) reported fiscal Q4 non-GAAP earnings and revenue late Thursday above market expectations, and its forecast for the full financial year also beat consensus.Shares soared 27% amid a surge in intraday trading volume to over 6.5 million from a daily average of roughly 2.5 million.Dell Technologies (DELL) reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.Shares surged 29% as intraday trading volume catapulted to over 27.1 million from a daily average of about 7.99 million.Replimune (REPL) said Friday it will, in the coming days, resubmit a biologics license application with the US Food and Drug Administration for vusolimogene oderparepvec, its experimental treatment for advanced melanoma.Shares catapulted 83% following an increase in intraday trading volume to over 39.8 million from a daily average of about 6.19 million.Price: $180.63, Change: $+38.23, Percent Change: +26.85%

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Japan

S&P 500, Nasdaq, Dow Jones Touch Record Highs as Trump Close to Making Decision on Iran Peace Deal

US equity indexes rose, with all three mainstream gauges hitting intraday record highs amid a surge in technology names and as President Donald Trump appeared close to announcing his decision on a preliminary Iran peace agreement.The Nasdaq Composite climbed 0.2% to 26,965.4, with the S&P 500 up 0.2% to 7,581.2, and the Dow Jones Industrial Average higher by 0.8% to 51,050.7 at midday on Friday.Dell Technologies (DELL) shares jumped past 28%, the top gainer on the S&P 500, after the company reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.President Donald Trump is making a "final determination" on a preliminary deal to extend a ceasefire with Iran after mixed messages from both sides over when an agreement might be struck, he said on Friday, according to a report from Bloomberg."I will be meeting now, in the Situation Room, to make a final determination," Trump said in a social media post.Brent crude futures fell 1.9% to $91.86, and West Texas Intermediate crude oil futures declined 1.2% to $87.68.

Dow JonesNasdaq CompositeS&P 500$DELL
Wire

Top Midday Stories: Dell Q1 Earnings Results, Guidance Top Estimates; Autodesk to Acquire MaintainX in $3.6 Billion All-Cash Deal

All three major US stock indexes were up in late-morning trading Friday, as President Donald Trump said on Truth Social that he will soon make a final determination regarding the proposed memorandum of understanding between the US and Iran.In company news, Dell Technologies (DELL) reported fiscal Q1 non-GAAP net income late Thursday of $4.86 per diluted share, up from $1.55 a year earlier and above the FactSet consensus analyst estimate of $2.96. Fiscal Q1 revenue was $43.84 billion, up from $23.38 billion a year ago and above the FactSet consensus of $35.74 billion. For fiscal Q2, the company said it expects non-GAAP EPS of $4.80 at the midpoint and revenue of $44 billion to $45 billion. Analysts polled by FactSet expect $2.99 and $35.10 billion, respectively. For fiscal 2027, Dell said it expects non-GAAP EPS of $17.90 at the midpoint on revenue of $165 billion to $169 billion. Analysts polled by FactSet expect $13.12 and $143.19 billion, respectively. Dell shares were up 29.4% around midday.Autodesk (ADSK) reported fiscal Q1 adjusted earnings late Thursday of $2.99 per diluted share, up from $2.29 a year earlier and above the FactSet consensus of $2.84. Fiscal Q1 revenue was $1.93 billion, up from $1.63 billion a year ago and above the FactSet consensus of $1.89 billion. For fiscal Q2, the company said it expects adjusted EPS of $3.10 to $3.14 on revenue of $2.00 billion to $2.02 billion. Analysts polled by FactSet expect $3.04 and $1.99 billion, respectively. For fiscal 2027, Autodesk said it expects adjusted EPS of $12.40 to $12.65 on revenue of $8.16 billion to $8.22 billion. Analysts expect $12.42 and $815 billion, respectively. Additionally, the company said late Thursday it has agreed to acquire MaintainX, a modern maintenance and operations business, in an all-cash deal valued at about $3.6 billion. Autodesk shares were down 4%.Amazon (AMZN) founder Jeff Bezos said Thursday on X that all personnel are safe and accounted for after his Blue Origin company's New Glenn rocket exploded Thursday night during a hot-fire test at a Space Force facility in Cape Canaveral, Florida. Amazon shares were down 0.5%.MongoDB (MDB) reported fiscal Q1 adjusted earnings late Thursday of $1.32 per diluted share, up from $1.00 a year earlier and above the FactSet consensus of $1.19. Fiscal Q1 revenue was $687.6 million, up from $549.0 million a year ago and above the FactSet consensus of $664.5 million. For fiscal Q2, the company said it expects adjusted EPS of $1.58 to $1.61 on revenue of $729 million to $734 million. Analysts polled by FactSet expect $1.29 and $700.5 million, respectively. For fiscal 2027, the company said it expects adjusted EPS of $5.95 to $6.14, up from its previous guidance of $5.75 to $5.93 and above the FactSet consensus of $5.92. Fiscal 2027 revenue is expected to be between $2.92 billion and $2.96 billion, above its previous guidance and the FactSet consensus of $2.90 billion. MongoDB shares were down 5.8%.Activist hedge fund Toms Capital Investment Management has built a significant stake in McCormick (MKC) as the US food company works on its planned acquisition of Unilever's (UL) food business, Reuters reported Friday, citing sources familiar with the matter. The size of the stake, which Toms acquired in Q2, and what Toms intends to do with it, could not be determined, Reuters reported. McCormick shares were up 1.2%, while Unilever shares were down 0.4%.Price: $411.54, Change: $+94.49, Percent Change: +29.80%

$ADSK$AMZN$DELL$MDB$MKC$UL
Commodities

Exchange-Traded Funds, Equity Futures Rise Pre-Bell Friday Amid US-Iran Deal Hopes

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Friday's premarket activity amid hopes of a possible US-Iran shipping and ceasefire agreement.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.1% before the start of regular trading.The US advance international trade in goods deficit narrowed to $82.40 billion in April from $85.27 billion in March, according to data released by the US Census Bureau. In the same report, wholesale inventories rose by 0.5% in April after a 1.5% increase in March. Analysts polled by Bloomberg expected wholesale inventories to increase by 0.8%.Chicago PMI data for May will be released at 9:45 am ET.Federal Reserve Vice Chair for Supervision Michelle Bowman is slated to speak on Friday.In premarket activity, bitcoin was down by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% higher, Ether ETF (EETH) advanced 2.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.9%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, and the iShares US Technology ETF (IYW) was 1.4% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.9%, while the iShares Semiconductor ETF (SOXX) rose by 0.6%.Dell (DELL) shares were 34% higher in premarket activity after the company reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and fiscal 2027.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.02%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) gained 0.1%, while the State Street SPDR S&P Retail ETF (XRT) declined by 1.6%.Chagee (CHA) shares were up more than 12% pre-bell after the company reported higher Q1 revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) advanced by 0.02%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) gained by 0.3%.Agios Pharmaceuticals (AGIO) stock was down more than 5% premarket after the company said it will discontinue development of tebapivat for lower-risk myelodysplastic syndromes following a phase 2b study that failed to meet the company's threshold for further advancement.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced by 0.1%, while the Vanguard Industrials Index Fund (VIS) rose 0.6% and the iShares US Industrials ETF (IYJ) was 0.2% higher.Firefly Aerospace (FLY) shares were more than 5% lower before market open after the company said late Thursday it priced a public offering of 4 million shares, alongside 8 million shares being offered by certain selling stockholders, at $48 per share.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.3%.Solv Energy (MWH) stock was down more than 1% before the opening bell after the company priced an upsized public offering of 15 million Class A common shares at $36 apiece.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Blackstone (BX) shares were edging 0.2% higher pre-bell after closing the previous session with a 106% decline. Bloomberg reported that the company is in talks to sell its 45% stake in Leica Camera to Asian investment firm HSG.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.3% to $87.76 per barrel on the New York Mercantile Exchange. Natural gas was up 5% at $3.04 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 2%, while the United States Natural Gas Fund (UNG) was 1.8% higher.Gold futures for July advanced by 0.6% to $4,561.10 an ounce on the Comex. Silver futures declined by 0.2% to $75.78 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) fell by 0.2%.

Dow JonesNasdaq CompositeS&P 500$AGIO$BETH$BITO$BX$CHA$DELL$EEM$EETH$EXI$FAS$FAZ$FLY$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MWH$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Tech Stocks Rise Pre-Bell Friday

Technology stocks were rising pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.3% higher.Dell Technologies (DELL) shares were up more than 33% after the company reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.Super Micro Computer (SMCI) stock was up more than 10% after the company said it is collaborating with Taiwanese authorities to prevent illicit diversion of its servers into the restricted Chinese market.Asana (ASAN) acquired StackAI, a no-code platform that helps enterprises create AI agents and automate workflows across business systems, the company said. Asana shares were up more than 7% premarket.

$ASAN$DELL$SMCI$XLK$XSD
Sectors

Sector Update: Tech

Technology stocks were rising pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 1% higher.Dell Technologies (DELL) shares were up more than 33% after the company reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.

$DELL
Asia Markets

Tentative US-Iran Ceasefire Extension Agreement Nudges US Equity Futures Higher Pre-Bell

US equity futures edged higher pre-bell Friday as traders monitored developments on the peace negotiations between US and Iran, with the two countries reportedly agreeing on a memorandum of understanding to extend the ceasefire by 60 days.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were flat.The memorandum still has to be approved by President Donald Trump, and Iran has not yet given a response to the latest version. Vice President JD Vance said the talks are making progress but still ongoing, while Treasury Secretary Scott Bessent confirmed that the negotiation teams have been "going back and forth."Iran reportedly fired missiles at unidentified targets on Thursday while the Pentagon said Iran had launched a ballistic missile towards Kuwait and deployed attack drones in the Strait of Hormuz.Traders also digested the latest round of earnings, with Costco Wholesale (COST) posting higher fiscal Q3 earnings and revenue late Thursday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.7% at $91.14 per barrel and US West Texas Intermediate crude 1.5% lower at $87.58 per barrel.The US advance international trade in goods deficit narrowed to $82.40 billion in April from $85.27 billion in March, according to data released by the US Census Bureau.The Chicago purchasing managers index for May, due at 9:45 am ET, is seen coming in at 50.3, up from its prior value of 49.2.Federal Reserve Vice Chair Michelle Bowman, Philadelphia Fed President Anna Paulson, and San Francisco Fed President Mary Daly are slated to speak on Friday.In other world markets, Japan's Nikkei closed 2.5% higher, Hong Kong's Hang Seng ended 0.7% higher, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Dell Technologies (DELL) shares were up 33% after the company reported higher fiscal Q1 non-GAAP net income and revenue that surpassed analysts' consensus. IBM (IBM) stock was 4.4% higher after the company said in a filing that it plans to invest more than $10 billion over the next five years to support quantum computing development. CoreWeave (CRWV) shares rose 1.4% after the company said it launched new agentic artificial intelligence capabilities designed to connect AI model training and inference in a continuous feedback loop to improve performance over time.On the losing side, Autodesk (ADSK) shares were down 6.6% after multiple analyst price target cuts, including those by RBC and BMO Capital. JD.com (JD) stock was 1.1% lower after the European Commission said it launched an in-depth investigation over the company's proposed acquisition of Ceconomy due to concerns that foreign subsidies may have distorted the deal process.

Dow JonesNasdaq CompositeS&P 500$ADSK$COST$CRWV$DELL$IBM$JD
Research

Susquehanna Upgrades Dell Technologies to Positive From Neutral, Adjusts PT to $700 From $138

Dell Technologies (DELL) has an average rating of overweight and mean price target of $341.11, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$DELL
Equity Futures Rise Amid US-Iran Deal Optimism
US Markets

Equity Futures Rise Amid US-Iran Deal Optimism

US equity markets were pointing higher before the opening bell Friday, while oil prices fell as traders parsed reports that Washington and Iran have reached a tentative deal to extend their ceasefire and carry out further talks on Tehran's nuclear program.The S&P 500, the Dow Jones Industrial Average, and the Nasdaq were up 0.1% each in premarket activity. The benchmarks extended their record advance at the close of the previous session.The US and Iran have agreed to a memorandum of understanding to extend a ceasefire between the countries and begin talks on Tehran's nuclear program, Axios reported Thursday, citing sources. However, US President Donald Trump is yet to sign off on the deal, according to the report.Iran's semi-official Tasnim news agency said in a post on social media platform X that the text of the possible MOU between the two countries has not yet been finalized, Bloomberg News reported Friday.Iranian armed forces fired missiles at unidentified targets late Thursday, CNBC reported, citing state media outlet Fars. The reported strikes come after Tehran fired a ballistic missile toward Kuwait overnight, which was intercepted by Kuwaiti forces, US Central Command said on X.West Texas Intermediate crude oil was down 1.4% at $87.67 a barrel before the open, while Brent decreased 1.3% to $92.45."While significant hurdles remain, the market is reacting to the prospect of a supply surge once hundreds of tankers loaded with crude oil and refined fuels are released from the Persian Gulf," Saxo Bank said in a report published Friday. "In the months ahead, however, demand to replenish depleted global inventories is likely to provide support, potentially lifting the price floor compared with pre-war levels."On Thursday, government data showed that annual inflation hit the highest reading in almost three years in April, even as consumer spending moderated in the face of high gasoline prices in the US. The world's largest economy expanded at a slower rate in the first quarter than previously estimated as consumer spending growth decelerated, according to the Bureau of Economic Analysis' second estimate."The downward revisions to consumer spending in (the first quarter) and the slowdown in April point to a consumer coming under stress, but not one that is about to buckle," Oxford Economics said in a note.US Treasury yields were down in premarket action, with the 10- and two-year rates retreating one basis point each to 4.45% and 4.02%, respectively.Friday's economic calendar has the international trade in goods data, as well as the retail and wholesale inventories reports at 8:30 am ET, followed by the Chicago purchasing managers' index for May at 9:45 am. The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Federal Reserve Vice Chair for Supervision Michelle Bowman is scheduled to speak at 9:10 am, while Philadelphia Fed President Anna Paulson speaks at 9:15 am. San Francisco Fed President Mary Daly's remarks are due at 12:40 pm.Dell Technologies' (DELL) shares soared 38% pre-bell after the computer and laptop maker overnight reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers. Oracle (ORCL) advanced 3.7% in premarket activity following a 6.7% jump at Thursday's close.Gold moved 0.6% higher to $4,561 per troy ounce, while bitcoin edged up 0.4% to $73,660.

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Research

Research Alert: Dell: Results And Guidance Blow Away Expectations On Insatiable Ai Demand

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Dell reported Q1 FY27 results that shattered expectations with revenue of $43.8B (+88% Y/Y) vs consensus $35.8B and non-GAAP EPS of $4.86 (+214% Y/Y) vs $2.96 consensus, posting record revenue, EPS, and cash from operations. ISG delivered record revenue of $29.0B (+181% Y/Y) led by AI-Optimized Servers at $16.1B (+757% Y/Y), while the company booked $24.4B in AI orders and CSG showed resilience with sales up 17% Y/Y to $14.6B. We see this as evidence of Dell's improving competitive position in AI servers and significant AI strength rather than a one-off result. Dell materially raised FY27 guidance to $167B revenue (19% above prior view) and $17.90 EPS (39% above prior view), far exceeding Street expectations of $143B and $13.13 respectively. We expect AI server revenue of $60B in FY27, up from the prior $50B view, as the company capitalizes on enterprise AI adoption and the commercial PC refresh cycle driven by AI-capable Windows 11 upgrades.

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Dell Tops First-Quarter Views as AI-Optimized Server Sales Skyrocket; Shares Rally After Hours
US Markets

Dell Tops First-Quarter Views as AI-Optimized Server Sales Skyrocket; Shares Rally After Hours

Dell Technologies (DELL) late Thursday reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers.Adjusted earnings rose to $4.86 a share for the quarter ended May 1 from $1.55 a year earlier, above the FactSet-polled consensus estimate of $2.96. Revenue soared 88% year-on-year to $43.84 billion, higher than the Street's $35.74 billion view.Revenue in the infrastructure solutions group climbed 181% to $29.01 billion as AI-optimized server sales skyrocketed by 757%, Dell said. Traditional server and networking revenue increased 92%.The company secured $24.4 billion in AI orders and reported $16.1 billion of AI server revenue, Chief Operating Officer Jeff Clarke said in a statement.Dell's shares were up 19% in after-hours trade. The stock surged 152% so far this year through Thursday's close.Sales for the client solutions group, which includes personal computers, climbed 17% year-on-year to $14.61 billion in the fiscal first quarter.Morgan Stanley expected "a blowout" quarter, projecting management to raise its full-year EPS guidance amid server demand strength and large enterprises pulling forward their spending in compute markets. Dell is also gaining market share in PCs, the brokerage said in a note last week.The company raised its fiscal 2027 outlook.Dell now expects full-year non-GAAP EPS to grow 74% year over year at the midpoint of its range, to $17.90, compared with its previous guidance of $12.90. Revenue is now pegged at between $165 billion and $169 billion, reflecting a 47% year-over-year jump at the midpoint, up from the prior $138 billion and $142 billion range. The consensus is for full-year adjusted EPS of $13.12 and sales of $143.19 billion."We're increasing our AI server revenue expectations for (fiscal 2027) to $60 billion, which only goes to show the AI opportunity shows no signs of slowing," Clarke said.For the current quarter, Dell forecasts adjusted EPS of $4.80 at the midpoint on revenue of $44 billion to $45 billion. Analysts are looking for $2.99 and $35.10 billion, respectively."We remain cautious on (second-half) profitability given memory inflation/supply shortages have materially intensified over the last 90 days, and (first-half) demand pull-forward elevates the risk of demand destruction and margin pressure in (the second half)," Morgan Stanley said.

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Wire

Earnings Flash (DELL) Dell Posts Fiscal Q1 Adjusted EPS $4.86, vs. FactSet Est of $3.00

Earnings Flash (DELL) Dell Posts Fiscal Q1 Adjusted EPS $4.86, vs. FactSet Est of $3.00

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