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Dell Technologies

Dell Technologies

$DELL
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148 stories mentioning Dell TechnologiesUpdated just now

Dell shares fell amid a sharp technology sell-off that sent the Nasdaq Composite to a five-week low.

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Japan

US Equity Markets End Higher After Government Bond Yields Fall

US equity indexes ended higher Wednesday after government bond yields fell despite Iran's retaliatory attacks across the Middle East.* The additional strikes on Iran on Tuesday led to Tehran attacking Jordan, Bahrain and Kuwait even though US President Donald Trump had warned that Iran would be "hit much harder" if it retaliated to the first strikes.* ADP's monthly measure of private payrolls showed a 38,000 increase in August, below a 47,000 gain expected in a Bloomberg-compiled survey.* New orders for US factory goods rose 0.9% in July from a 0.2% decrease in June, above expectations for a 0.7% increase in a survey compiled by Bloomberg.* October West Texas Intermediate crude oil rose $0.60 to settle at $90.82 per barrel, while November Brent crude, the global benchmark, was last seen up $0.75 at $95.40.* Dell Technologies (DELL) shares rose roughly 16%, the top gainer on the S&P 500, after the company reported higher fiscal Q2 results and raised its fiscal 2027 guidance.* Palo Alto Networks (PANW) shares were down about 9.3%, the worst performer on the S&P 500 and the Nasdaq, after the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.

Dow JonesNasdaq CompositeS&P 500$DELL$PANW
Sectors

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.8%.The Philadelphia Semiconductor index rose 0.4%.In corporate news, Palo Alto Networks (PANW) shares fell 10% after the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.A judge in federal district court in Virginia on Wednesday rejected the United States' proposed structural remedies that would require Alphabet's (GOOGL) Google to sell AdX, its advertising exchange, according to court documents. Alphabet shares were up 0.8%.Dell (DELL) shares jumped 15% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Microsoft-backed (MSFT) OpenAI was hit with multiple lawsuits Wednesday alleging that the AI company could have done more to help prevent a school shooting earlier this year in Canada by informing law enforcement of the suspected killer's activity on ChatGPT, according to media reports. Microsoft shares were down 0.8%.

$DELL$GOOGL$MSFT$PANW
Dell Print Showed 'Broad-Based Strength' But Computer Maker Faces AI Growth Slowdown Concerns, UBS Says
Wire

Dell Print Showed 'Broad-Based Strength' But Computer Maker Faces AI Growth Slowdown Concerns, UBS Says

Dell Technologies' (DELL) latest results and guidance indicated "broad-based strength," though there are concerns that artificial intelligence-driven compute and storage growth may decelerate sharply in fiscal 2028 or 2029 amid rising prices, UBS Securities said in a note e-mailed Wednesday.Late Tuesday, the computer maker raised its full-year financial projections after delivering a second-quarter beat amid record AI server demand."We've had a strong first half of the year, and we expect the second half to be stronger," Dell Chief Financial Officer David Kennedy said on an earnings conference call, according to a FactSet transcript. "The momentum we've seen continues, and we are raising our expectations across every line of business."Dell's latest print showed "broad-based strength," UBS analysts David Vogt and Andrew Spinola said in a note to clients.The brokerage raised its price target on the company's stock to $500 from $455, but reiterated its neutral rating, citing limited visibility into sustained growth in 2028 following "exceptional" strength expected in 2027."While near-term momentum and enterprise AI demand remain strong, steep industrywide price increases raise durability concerns for server, storage, and (personal computer) demand," Vogt and Spinola said.There are concerns that AI-driven compute and storage growth could slow sharply in fiscal 2028 or 2029, according to the note. "The muted response after two quarters of sizable revisions suggests investors still view the cycle as potentially cyclical rather than secular."Dell shares were up 14% in Wednesday late-afternoon trade, bringing its gains to nearly 286% so far this year.UBS boosted its earnings forecast for the company to $26 a share from $19.41 for fiscal 2027 and to $29.86 from $21.90 for 2028. The brokerage also increased its 2027 and 2028 revenue estimates to about $193 billion and $232 billion, respectively, from $178 billion and $202 billion, according to the note."Despite rising near-term estimates, the key debate is whether server, storage, and PC demand can remain durable after steep industrywide price increases," Vogt and Spinola wrote. "Our framework balances solid near-term momentum and growing enterprise AI demand against the risk of a cyclical slowdown after the price-driven refresh cycle."AI server maker Hewlett Packard Enterprise (HPE) is scheduled to report its fiscal third-quarter results after the closing bell Wednesday.Price: $473.77, Change: $+48.77, Percent Change: +11.47%

$DELL$HPE
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 Indexes Rise Amid Lower Treasury Yields, Higher Crude Oil

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose after midday Wednesday, while government bond yields slipped and crude oil prices advanced amid a worsening of hostilities against Iran.The Nasdaq Composite rose 0.3% to 26,177.4, the S&P 500 climbed 0.4% to 7,660.9, and the Dow Jones Industrial Average advanced 0.4% to 52,955.4. All sectors, except consumer discretionary and real estate, rose. Communication services and materials topped the gainers.The additional strikes Tuesday on Iran led to Tehran attacking Jordan, Bahrain and Kuwait even though US President Donald Trump had warned that Iran would be "hit much harder" if it retaliated to the first strikes in over a month. "They will be hit again at a much harder and higher level, but it will not be the biggest attack of them all, that is waiting in the wings and, when it is over, there will be very little left of the Islamic Republic of Iran!" Trump posted on Truth Social on Tuesday.The Iran Revolutionary Guards Corps said two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported Wednesday.The front-month US West Texas Intermediate crude oil contract rose 0.7% to $90.89 per barrel, and global benchmark North Sea Brent climbed 1% to $95.61 per barrel. Both crude types were down by more than 0.5% earlier in the session.Most US Treasury yields slipped, albeit moderately. The 10-year yield edged down by less than one basis point to 4.8%. The two-year yield slipped less than one basis point to 4.39%.Gold futures advanced 0.4% to $4,415.3, and silver futures marched 0.2% higher to $65.52.Meanwhile, ADP's monthly measure of private payrolls showed a 38,000 increase in August, below a 47,000 gain expected in a Bloomberg-compiled survey, following a 46,000 increase in July. Service-providing jobs climbed 48,000, with education and health services jobs up 45,000, while manufacturing sector jobs contracted 17,000."Pay can tell us a lot about today's choppy hiring," said Nela Richardson, chief economist at ADP. "To understand hiring patterns, you have to look deeply into where pay growth is accelerating, where it's slowing, and for whom. Once-predictable wage growth has been overtaken by the complexities of demographic change, persistent inflation, and AI's effects on jobs."New orders for US factory goods rose 0.9% in July, above expectations for a 0.7% increase in a survey compiled by Bloomberg and following a 0.2% decrease in June. Excluding a 2.3% increase in transportation orders, new orders would have been up 0.6% after a 0.1% decline in June.Dell Technologies (DELL) jumped 9.4%, the top gainer on the S&P 500, after the company reported higher fiscal Q2 non-GAAP earnings and revenue, and raised its fiscal 2027 guidance.Palo Alto Networks (PANW) sank 11%, the worst performer on the S&P 500 and the Nasdaq, as the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.

Dow JonesNasdaq CompositeS&P 500$DELL$PANW
Sectors

Sector Update: Tech Stocks Mixed Wednesday Afternoon

Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.3%.The Philadelphia Semiconductor index rose 0.2%.In corporate news, Dell (DELL) shares jumped 9% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Nvidia (NVDA) is in late-stage talks to buy AI startup Hugging Face, in a deal that may total about $14 billion, Bloomberg reported. The companies may strike a deal as early as this week that could include a $1 billion retention package for Hugging Face workers, the report said. Nvidia shares rose 3.5%.Microsoft-backed (MSFT) OpenAI was hit with multiple lawsuits Wednesday alleging that the AI company could have done more to help prevent a school shooting earlier this year in Canada by informing law enforcement of the suspected killer's activity on ChatGPT, according to media reports. Microsoft shares were down 1%.

$DELL$MSFT$NVDA
Sectors

Sector Update: Tech

Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.5%.The Philadelphia Semiconductor index rose 0.4%.In corporate news, Dell (DELL) shares jumped past 7% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.

$DELL
Wire

Deutsche Bank Adjusts Dell Technologies Price Target to $520 From $480

Dell Technologies (DELL) has an average rating of overweight and mean price target of $571.77, according to analysts polled by FactSet.Price: $456.23, Change: $+31.23, Percent Change: +7.35%

$DELL
Japan

Update: US Equity Indexes Rise in Midday Trading

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes rose as crude oil prices and government bond yields fluctuated.The Nasdaq Composite rose 0.4% to 26,215.4, the S&P 500 climbed 0.5% to 7,667.3, and the Dow Jones Industrial Average advanced 0.4% to 52,963.7 after midday Wednesday.Iranians and their Arab neighbours feared a return of war on Wednesday after the biggest exchange of fire between Tehran and Washington since July, with US forces striking Iran's southern coast and Iran firing at American bases across the region, Reuters reported. The Iran Revolutionary Guards Corps said that two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract added 0.6% to $90.79 per barrel, and global benchmark North Sea Brent climbed 0.9% to $95.53 per barrel. Both crude types were down by more than 0.5% earlier in the session.Most US Treasury yields traded mixed, albeit moderately. The 10-year yield edged up by less than one basis point to 4.8% after trading slightly lower earlier in the session. The two-year yield slipped less than one basis point to 4.39%.Meanwhile, ADP's monthly measure of private payrolls showed a 38,000 increase in August, below a 47,000 gain expected in a Bloomberg-compiled survey, following a 46,000 increase in July. Service-providing jobs climbed 48,000, with education and health services jobs up 45,000, while manufacturing sector jobs contracted 17,000.Dell Technologies (DELL) jumped 10%, the top gainer on the S&P 500, after the company reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.

Dow JonesNasdaq CompositeS&P 500$DELL
Wire

Dell's Strong Fiscal Q2, Higher FY 2027 Guidance Offset by Uncertain 2028 Growth, UBS Says

Dell Technologies (DELL) posted strong fiscal Q2 results and raised full-year guidance, though the maker of servers, storage systems and PC faces an uncertain growth outlook in fiscal 2028, UBS Securities said Tuesday in a report.Dell shares traded around 17.5 times the fiscal 2027 EPS midpoint target of $25.50, reflecting concern that AI-driven compute and storage growth "may slow sharply" in fiscal 2028 or 2029, UBS said."The muted response after two quarters of sizable revisions suggests investors still view the cycle as potentially cyclical rather than secular," the report said."While near-term momentum and enterprise AI demand remain strong, steep industrywide price increases raise durability concerns" for growth, UBS said."The market appears to have already priced in beats and guidance increases across the key AI metrics including revenue and orders," the report said.UBS raised its price target on Dell stock to $500 from $450 and maintained its neutral rating.Price: $451.27, Change: $+26.27, Percent Change: +6.18%

$DELL
Wire

Top Midday Stories: Dell Fiscal Q2 Earnings, Guidance Beat Estimates; Uber to Cut About 10% of Workforce

All three major US stock indexes were up in late-morning trading Wednesday, as the recent run-up in Treasury yields eased.In company news, Dell Technologies (DELL) reported fiscal Q2 adjusted earnings late Tuesday of $7.04 per diluted share, up from $2.32 a year earlier and above the FactSet consensus analyst estimate of $4.91. Fiscal Q2 revenue was $46.97 billion, up from $29.8 billion a year ago and above the FactSet consensus of $44.89 billion. For fiscal Q3, the company expects adjusted EPS of $6.50 on revenue of $49 billion. Analysts polled by FactSet expect $4.46 and $41.36 billion, respectively. For the full year, Dell expects adjusted EPS of $25.50 on revenue of $192 billion, up from its previous guidance of adjusted EPS of $17.90 on revenue of $167 billion and above the FactSet consensus of $18.99 and $174 billion, respectively. Dell shares were up 4.9% around midday.Uber Technologies (UBER) is laying off about 10% of its workforce as part of a restructuring plan, Chief Executive Dara Khosrowshahi said Wednesday in an email to employees that was shared on the company website. Uber had about 34,000 employees at the end of 2025, according to a regulatory filing. Uber shares were up 1.4%.Nvidia (NVDA) is in late-stage talks to buy Hugging Face, an artificial intelligence startup, in a deal that may total about $14 billion, Bloomberg reported Wednesday, citing people familiar with the matter. The companies may strike a deal as early as this week that could include a $1 billion retention package for Hugging Face workers, the report said, citing one of the people. Nvidia shares were up 4.1%.Palo Alto Networks (PANW) reported fiscal Q4 adjusted EPS late Tuesday of $1.02, up from $0.95 a year earlier and above the FactSet consensus of $0.98. Fiscal Q4 revenue was $3.41 billion, up from $2.54 billion a year ago and above the FactSet consensus of $3.35 billion. For fiscal Q1, the company expects adjusted EPS of $0.96 to $0.98 on revenue of $3.30 billion to $3.31 billion, above the FactSet consensus of $0.93 and $3.22 billion, respectively. For fiscal 2027, the company expects adjusted EPS of $4.16 to $4.19 on revenue of $14.10 billion to $14.20 billion, above the FactSet consensus of $4.10 and $13.84 billion, respectively. Additionally, Palo Alto Networks said late Tuesday it acquired Console, an AI-native platform that enables agentic capabilities. Financial terms were not disclosed. Palo Alto shares were down 8.1%.Gitlab (GTLB) reported Q2 adjusted EPS late Tuesday of $0.24, unchanged from a year earlier and above the FactSet consensus of $0.18. Second-quarter revenue was $286.3 million, up from $236.0 million a year ago and above the FactSet consensus of $273.1 million. For Q3, Gitlab expects adjusted EPS of $0.19 to $0.20 on revenue of $281 million to $283 million, above the FactSet consensus of $0.18 and $280.9 million, respectively. For fiscal 2027, the company expects adjusted EPS of $0.85 to $0.87 on revenue of $1.129 billion to $1.133 billion, above the FactSet consensus of $0.81 and $1.12 billion, respectively. Gitlab shares were up 17.4%.Price: $445.24, Change: $+20.24, Percent Change: +4.76%

$DELL$GTLB$NVDA$PANW$UBER
Wire

BofA Securities Lifts Dell Technologies Price Target to $600 From $505, Maintains Buy Rating

Dell Technologies (DELL) has an average rating of overweight and mean price target of $571.77, according to analysts polled by FactSet.Price: $446.20, Change: $+21.20, Percent Change: +4.99%

$DELL
Sectors

Sector Update: Tech Stocks Lean Lower Premarket Wednesday

Technology stocks were leaning lower premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) declining by 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.1%.Dell Technologies (DELL) stock was up more than 9% after the company posted higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Hewlett Packard Enterprise (HPE) has expanded its partnership with Tottenham Hotspur Football Club to modernize the technology infrastructure for the club's stadium, including hybrid cloud, networking and artificial intelligence-driven operations, Tottenham said. Shares of Hewlett Packard Enterprise were up more than 3% pre-bell.Sprinklr (CXM) shares were down more than 5% after the company reported a decline in fiscal Q2 adjusted earnings and cut its fiscal 2027 adjusted EPS outlook.

$CXM$DELL$HPE$XLK$XSD
Commodities

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Wednesday Amid Escalating US-Iran Tensions

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.03%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.2% in Wednesday's premarket activity, as markets traded mixed amid escalating US-Iran tensions.US stock futures were also mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures retreating 0.1% before the start of regular trading.Mortgage applications rebounded by 0.8% in the week ended Aug. 28 despite a further increase in average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.ADP's monthly measure of private payrolls showed a 38,000 increase in August, well below expectations compiled by Bloomberg as of 7:45 am ET for an increase of 47,000 after a 46,000 increase in July.Factory orders data for July will be released at 10:00 am ET, followed by the weekly petroleum stocks data at 10:30 am ET.The Fed's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, posts at 2 pm ET.In premarket action, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) retreated 1.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) was up 0.8%, and the iShares US Industrials ETF (IYJ) was inactive.FuelCell Energy (FCEL) stock was down more than 12% before the opening bell after the company reported a wider-than-expected fiscal Q3 adjusted loss.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.1%, the iShares US Technology ETF (IYW) was 0.8% lower, and the iShares Expanded Tech Sector ETF (IGM) lost 0.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) decreased by 0.1%, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.Dell Technologies (DELL) shares were up 8% after the company posted higher fiscal Q2 adjusted earnings and revenue in addition to lifting its full-year guidance.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% lower.Manulife Financial (MFC) shares traded down 4% in early-hours activity after the company said late Tuesday it priced a $750 million public offering in the US of 6.146% subordinated notes due 2041.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%, and the iShares US Consumer Staples ETF (IYK) advanced 0.03%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) was 0.3% higher. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.4%.Nio (NIO) shares were down more than 3% pre-bell after JPMorgan downgraded the company to neutral from overweight.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, the Vanguard Health Care Index Fund (VHT) was down 0.8%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.1% higher.UniQure (QURE) stock was up 3% premarket after the company submitted a Biologics License Application to the US Food and Drug Administration to request accelerated approval of ifezuntirgene inilparvovec, or AMT-130, its investigational gene therapy for Huntington's disease.EnergyThe iShares US Energy ETF (IYE) was down 0.2%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.5% lower.BP (BP) stock was down more than 1% before market open after the company appointed Ian Tyler as board chair.CommoditiesFront-month US West Texas Intermediate crude oil was down by 0.8% to $89.53 per barrel on the New York Mercantile Exchange. Natural gas was up 1.1% at $2.94 per 1 million British Thermal Units. The United States Oil Fund (USO) lost 1.2%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for November were down by 0.4% to $4,379.40 an ounce on the Comex. Silver futures retreated 0.6% to $64.96 an ounce. SPDR Gold Shares (GLD) increased 0.1%, and the iShares Silver Trust (SLV) was 0.4% higher.

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

Sector Update: Tech

Technology stocks were leaning lower premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) declining by 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.1%.Dell Technologies (DELL) stock was up more than 9% after the company posted higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.

$DELL
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
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
Dell Beats Quarterly Views on Record AI Server Demand, Boosts Full-Year Outlook
US Markets

Dell Beats Quarterly Views on Record AI Server Demand, Boosts Full-Year Outlook

Dell Technologies' (DELL) fiscal second-quarter results beat Wall Street's estimates, driven by record artificial intelligence server demand, while the company lifted the full-year outlook.Adjusted earnings rose to $7.04 a share for the quarter ended July 31 from $2.32 a year earlier, well above the FactSet-polled consensus of $4.91. Revenue soared 58% year-on-year to $46.97 billion, higher than the Street's view of $44.89 billion.Revenue in the infrastructure solutions group climbed 89% to $31.78 billion as AI-optimized server sales doubled to $16.4 billion, Dell said. Traditional server and networking revenue soared 122%.The company saw record AI server demand, generating $60.9 billion in orders, Chief Operating Officer Jeff Clarke said in a statement.Dell's shares were up 8.2% in after-hours trade. The stock surged 238% so far this year through Tuesday's close.Sales for the client solutions group, which includes personal computers, climbed 20% year-on-year to $15.03 billion in the fiscal second quarter.Morgan Stanley expected Dell to post "strong" fiscal second-quarter results and lift full-year guidance amid momentum in AI servers and traditional infrastructure, according to a note last week.Dell now expects full-year non-GAAP EPS of $25.50, plus or minus $0.25, compared with its previous guidance of $17.90. Revenue is now pegged at $192 billion, plus or minus $2 billion, up from the prior $165 billion to $169 billion range. The consensus is for full-year adjusted EPS of $18.99 and sales of $174.05 billion.For the current quarter, Dell forecasts adjusted EPS of $6.50, plus or minus $0.10, on revenue of $49 billion, plus or minus $500 million. Analysts are looking for $4.46 and $41.36 billion, respectively.BofA Securities had also projected Dell to raise its fiscal 2027 guidance, saying in a note on Monday that the upside is limited by component availability and customer data center readiness. "For AI servers, we see another constructive setup given the scale of backlog, continued order activity, and visibility into multi-quarter deployments," the brokerage wrote.In July, IBM (IBM) reported second-quarter results that fell short of analysts' estimates and reduced full-year constant-currency revenue growth expectations.AI server maker Hewlett Packard Enterprise (HPE) is scheduled to report its fiscal third-quarter earnings on Wednesday.

$DELL$HPE$IBM
Update: Equity Markets Fall Intraday as Oil, Yields Surge
US Markets

Update: Equity Markets Fall Intraday as Oil, Yields Surge

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, as surging oil prices and bond yields kept inflation-wary traders on the edge.The Nasdaq Composite was down 1% at 26,113.9 after midday Tuesday. The Dow Jones Industrial Average shed 0.8% to 52,752.6, while the S&P 500 lost 0.7% to 7,633.2. The indexes finished the previous trading session lower.Among sectors, consumer discretionary led the laggards intraday Tuesday, while energy paced the gainers.West Texas Intermediate crude oil jumped 4.4% to $89.57 a barrel, while Brent advanced 3.9% to $94.04.The US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X.Washington is striking "Iranian targets" near the Strait of Hormuz, US President Donald Trump said Tuesday."If the failed nation of Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level," Trump said in a social media post.The latest US military actions came a day after Iran reportedly attacked US bases in Jordan and the United Arab Emirates, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island.US Treasury yields jumped intraday Tuesday, with the 10-year rate up 3.2 basis points at 4.79%, reaching its highest level since January 2025. The two-year yield rose 3.9 basis points to 4.39%.Government borrowing costs are surging "as rising oil prices continue to fuel inflation concerns and as investors increase expectations for firmer (Federal Reserve) policy," Stifel said in a note to clients.Markets are now pricing in a 68% probability that the US central bank will increase its benchmark lending rate by 25 basis points later this month, compared with about 40% a week ago, according to the CME FedWatch tool. The probability that the Fed will keep interest rates steady fell to 32% from 60%.The Fed should tighten monetary policy unless inflation cools down as hoped, Governor Michael Barr said Tuesday, adding to a growing chorus of hawkish views from policymakers. In his debut Jackson Hole speech as Fed chief on Friday, Kevin Warsh said that the central bank's primary focus should be on prices, given that the US is doing well on the employment front.In economic news, the US manufacturing sector continued to expand in August, with an Institute for Supply Management survey pointing to a slight deceleration sequentially and S&P Global (SPGI) data indicating a steady growth rate.In company news, Nio (NIO) posted a 69% year-over-year increase in its second-quarter revenue amid growth in vehicle deliveries, which are expected to continue rising in the ongoing quarter. The Chinese electric vehicle maker's American depositary receipts were down 4.5% intraday.Palo Alto Networks (PANW) shares fell 6.1%, among the worst performers on the S&P 500.Palo Alto is scheduled to report its latest quarterly financial results after the closing bell Tuesday, along with Dell Technologies (DELL), MongoDB (MDB) and others.Spot gold was down 2.1% at $4,344.51 per troy ounce, while silver dropped 2.4% to $65.40 per ounce.

Dow JonesNasdaq CompositeS&P 500$DELL$MDB$NIO$PANW$SPGI
Stocks Down Pre-Bell as Traders Weigh Renewed US-Iran Tensions
US Markets

Stocks Down Pre-Bell as Traders Weigh Renewed US-Iran Tensions

US equity futures were tracking in the red on Tuesday as investors weigh Middle East tensions after the US and Iran recently exchanged strikes.The S&P 500 and the Dow Jones Industrial Average declined 0.5% each in premarket activity, while the Nasdaq was off 0.8%. The indexes finished the previous trading session lower.President Donald Trump reportedly told Fox News on Monday that the US will respond to Iran's attacks on its military bases in the Middle East."We're going to hit them hard," Trump reportedly said. "There will be a response."Iran reportedly attacked US bases in Jordan and the United Arab Emirates on Monday, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island. The US attack was the first confirmed military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Tehran.Iranian President Masoud Pezeshkian reportedly said Monday that Iran is not seeking to engage in a war with the US, but will respond firmly to any acts of aggression.West Texas Intermediate crude oil rose 2.7% to $88.05 a barrel before the opening bell, while Brent increased 2.2% to $92.47.The UK Maritime Trade Operations said Monday that a tanker was reported to have been struck by three unknown projectiles while transiting the Strait of Hormuz."These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said in a Monday 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."Treasury yields were trending higher in premarket action, with the two-year rate gaining 1.2 basis points to 4.36% and the 10-year rate adding 3 basis points to 4.79%.Traders also await the first batch of fresh labor data this week, with the Job Openings and Labor Turnover Survey for July out at 10 am ET. The ADP Employment report, the Challenger, Gray & Christmas job cut report and the government's nonfarm payrolls data, all for August, are due later in the week.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 in August, compared with the Bloomberg-polled consensus of a 55,000 increase.Tuesday's economic calendar also has the final Purchasing Managers' manufacturing index for August at 9:45 am, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am.Federal Reserve Governor Michael Barr is slated to speak at 9:05 am.Shares of GoPro (GPRO) surged 89% pre-bell following media reports that YouTube creator Mark Fischbach has become the company's largest single shareholder. Robinhood Markets (HOOD) inclined 1.9%.Palo Alto Networks (PANW), Dell Technologies (DELL), Credo Technology (CRDO) and MongoDB (MDB) are expected to release their latest financial results after the markets close Tuesday. Medtronic (MDT) posts earnings before the bell, among others.Gold slipped 1.3% to $4,423 per troy ounce, while bitcoin decreased 1.4% to $77,924.

Dow JonesNasdaq CompositeS&P 500$CRDO$DELL$GPRO$HOOD$MDB$MDT$NIO$PANW

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