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Dell Technologies

Dell Technologies

$DELL
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97 stories mentioning Dell TechnologiesUpdated 5d ago

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

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://finwires.com/en/contact)

$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.

Dow JonesNasdaq CompositeS&P 500$DELL$ORCL
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.

$DELL
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.

$DELL
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

$DELL
Wire

Earnings Flash (DELL) Dell Posts Fiscal Q1 Revenue $43.8B, vs. FactSet Est of $35.74B

Earnings Flash (DELL) Dell Posts Fiscal Q1 Revenue $43.8B, vs. FactSet Est of $35.74B

$DELL
Equity Markets Rise Intraday Amid US-Iran Deal Report
US Markets

Equity Markets Rise Intraday Amid US-Iran Deal Report

US benchmark equity indexes were higher intraday as traders parsed a report that Washington and Iran have reached a tentative peace agreement.The Nasdaq Composite was up 0.7% at 26,862 after midday Thursday, while the S&P 500 rose 0.5% to 7,560.5. The Dow Jones Industrial Average advanced 0.1% to 50,693.5. The indexes closed at new all-time highs in the previous session.Among sectors, healthcare and technology paced the gainers intraday Thursday, while financials saw the biggest decrease.The US and Iran have agreed to a 60-day memorandum of understanding to extend the ceasefire and begin talks on Tehran's nuclear program, Axios reported, citing sources. However, US President Donald Trump has yet to sign off on the deal, according to the report.Iran 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 up 0.1% at $88.75 a barrel intraday, while Brent fell 0.7% to $93.60.In economic news, 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, official data showed."If elevated inflation continues, we can expect slower trend real consumer spending ahead," BMO said in a note.Although artificial intelligence has the potential to be a "transformative technology," the risks of a miscalculation regarding its impact on inflation and productivity are "too great," St. Louis Federal Reserve President Alberto Musalem said."If the evidence becomes clear that higher productivity growth is likely to ease inflation pressures, I'm prepared to adjust my policy views," Musalem said. "However, at present, I believe we should keep our guard up against persistent above-target inflation today, rather than base monetary policy on the hope that we will have higher productivity growth tomorrow."US Treasury yields were lower intraday, with the 10-year rate down 3.2 basis points at 4.45% and the two-year rate falling 1.9 basis points to 4.01%.In company news, Dollar Tree (DLTR) shares jumped nearly 18%, the second-top gainer on the S&P 500, as the discount retailer raised its full-year earnings outlook after posting fiscal first-quarter results above Wall Street's estimates.Snowflake (SNOW) shares surged 37%. Late Wednesday, the cloud-based data platform raised its full-year product revenue outlook on the back of better-than-expected fiscal first-quarter results. The company agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) cloud platform.Burlington Stores (BURL) increased its full-year outlook Thursday, while the off-price retailer's guidance for the ongoing quarter indicated a sequential slowdown in comparable sales growth. The company's shares were down 8.3% intraday.Dell Technologies (DELL), Costco Wholesale (COST), and MongoDB (MDB) are scheduled to report financials after the closing bell Thursday, along with others.Gold was up 1.3% at $4,538.60 per troy ounce, while silver advanced 1.6% $76.08 per ounce.

Dow JonesNasdaq CompositeS&P 500$BURL$COST$DELL$DLTR$MDB$SNOW
Asia Markets

Fresh Military Strikes Between US, Iran Drag US Equity Futures Pre-Bell

US equity futures were edging lower pre-bell Thursday as fresh US and Iranian strikes once again threatened the fragile ceasefire between the two nations, reducing optimism surrounding a potential peace deal.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.2% lower.The US military said it had fired on Iranian drones over the Strait of Hormuz and attacked a military site in the port city of Bandar Abbas, which is the second time in three days it has struck targets in Iran for what it called self-defense. Iran said it responded by launching an attack on an American air base in the region.Traders observed the latest round of earnings, including those of several major Canadian banks. Royal Bank of Canada (RY) reported higher fiscal Q2 adjusted earnings and revenue, while Toronto-Dominion Bank (TD) posted increased fiscal Q2 adjusted earnings amid lower revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.2% at $94.26 per barrel and US West Texas Intermediate crude 2.4% higher at $90.73 per barrel.The April core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, gained 0.2%, lower than the 0.3% increase in the prior month and the expected 0.3% gain in a survey compiled by Bloomberg.Initial jobless claims rose to 215,000 in the week ended May 23 from 210,000 level in the previous week, compared with expectations for a smaller increase to 211,000. Preliminary Q1 GDP growth was recorded at a 1.6% rise, compared with the advance estimate of a 2% increase.Durable goods new orders rose 7.9% in April after a 1.3% gain in the prior month, compared with expectations for a 4% increase.In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 1%, and Germany's DAX index was 0.7% lower in Europe's early afternoon session.In equities, Dell Technologies (DELL) shares were up 4.6% after the company said its unit Dell Federal Systems won a blanket purchase agreement with an overall estimated value of $9.69 billion from the US Navy under the Department of Defense Enterprise Software Initiative. Snowflake (SNOW) stock was 37% higher after the cloud-based data platform lifted its fiscal 2027 product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) Amazon Web Services. Royal Bank of Canada shares were up 1.7% after the bank reported its fiscal Q2 financial results.On the losing side, HSBC (HSBC) stock was down 2.2% after a Bloomberg News report that UK's Cambridge University was withdrawing its investments from institutions providing financial support to fossil fuels, including the British bank. AstraZeneca (AZN) shares were 0.8% lower after the company said that the US Food and Drug Administration delayed the decision deadline for its new drug application regarding a combination breast cancer treatment.

Dow JonesNasdaq CompositeS&P 500$AMZN$AZN$DELL$HSBC$RY$SNOW$TD
Stocks Fall Pre-Bell Amid Renewed US-Iran Tensions; Key Inflation, Economic Data on Deck
US Markets

Stocks Fall Pre-Bell Amid Renewed US-Iran Tensions; Key Inflation, Economic Data on Deck

The main US stock measures were trending lower in Thursday's premarket activity amid renewed tensions in the Middle East, while traders await key inflation and economic data.The S&P 500 and the Dow Jones Industrial Average edged down 0.1% each before the opening bell, while the Nasdaq was off 0.2%. The indexes finished Wednesday's trading session with fresh highs.Iran's Islamic Revolutionary Guard Corps said Thursday it targeted a US airbase, CNBC reported, citing Tehran's semi-official Tasnim news agency.The reported attack came after a US official told MS Now on Wednesday that US forces carried out strikes against a military site believed to threaten its troops and commercial shipping through the Strait of Hormuz.West Texas Intermediate crude oil increased 1.7% to $90.21 a barrel in premarket action, while Brent rose 1.6% to $95.81.President Donald Trump on Wednesday said that no single country will control the crucial Strait of Hormuz, according to Bloomberg News. "Nobody's going to control it, it's international waters," Trump reportedly said at the White House. "The strait's going to be open to everybody," and the US will "watch over it," he added.Earlier on Wednesday, Trump expressed confidence that the US would be able to reach a deal to end the conflict, but he is not yet satisfied with the terms, CNN reported. Iranian state TV previously claimed that a draft memorandum on ending the conflict calls for the US to withdraw its military forces and lift the naval blockade in return for reopening the Strait of Hormuz within a month. However, the White House dismissed it as a "complete fabrication," according to CNN.The personal income and outlays report for April is due to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.Treasury yields were moving higher before the open, with the two-year rate gaining 2.7 basis points to 4.06% and the 10-year rate adding 1.2 basis points to 4.49%.Thursday's economic calendar also has the second estimate report of the first-quarter gross domestic product at 8:30 am, along with the weekly jobless claims bulletin and the durable goods orders report for last month. The new home sales report for April is out at 10 am, followed by the EIA domestic petroleum inventories report at 12 pm.New York Fed President John Williams is slated to speak at 8:55 am, while St. Louis Fed President Alberto Musalem speaks at 10:15 am. Richmond Fed President Thomas Barkin's remarks are due at 3 pm.Shares of Snowflake (SNOW) jumped 38% pre-bell after the cloud-based data platform lifted its full-year product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) cloud platform. Salesforce (CRM) declined nearly 2% as the company issued a soft fiscal second-quarter outlook.Marvell Technology (MRVL) and Synopsys (SNPS) dropped 3.3% and 2.8%, respectively, following their latest quarterly results.Burlington Stores (BURL), Dollar Tree (DLTR), Li Auto (LI), XPeng (XPEV), Best Buy (BBY) and Hormel Foods (HRL) are expected to release their earnings before the bell, among others. Costco Wholesale (COST), Dell Technologies (DELL) and MongoDB (MDB) are scheduled to announce their results after the markets close.Gold fell 1.1% to $4,400 per troy ounce, while bitcoin slipped 2.2% to $73,258.

Dow JonesNasdaq CompositeS&P 500$BBY$BURL$COST$CRM$DELL$DLTR$HRL$LI$MDB$MRVL$SNOW$SNPS$XPEV
Wire

Dell Technologies Unit Wins $9.69 Billion US Navy Contract

Dell Technologies (DELL) unit Dell Federal Systems won a blanket purchase agreement with an overall estimated value of $9.69 billion from the US Navy under the Department of Defense Enterprise Software Initiative.The agreement will streamline software acquisition across the Defense Department, the intelligence community, and the US Coast Guard, according to a statement.The deal will allow clients to procure Microsoft (MSFT) software licenses, cloud subscriptions, and Software Assurance, according to the Department.

$DELL$MSFT
Sectors

Sector Update: Tech Stocks Rise Premarket Wednesday

Technology stocks were rising premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 3%.Micron Technology (MU) shares were up more than 7%, extending gains after the company's market capitalization eclipsed $1 trillion for the first time on Tuesday.Iren (IREN) has entered a $1.6 billion purchase agreement with Dell (DELL) for air-cooled Blackwell systems, the company said. Iren shares were up more than 3% pre-bell.Zscaler (ZS) stock was down more than 23% after the company issued a fiscal Q4 revenue outlook that narrowly missed analysts' expectations.

$DELL$IREN$MU$XLK$XSD$ZS
Nasdaq, S&P 500 Log New Peaks as Micron Drives Tech Rally
US Markets

Nasdaq, S&P 500 Log New Peaks as Micron Drives Tech Rally

The Nasdaq Composite and the S&P 500 reached new peaks on Tuesday, driven a Micron Technology (MU) led rally in the tech sector, while the Dow Jones Industrial Average retreated from a record high.The Nasdaq rose 1.2% to settle at 26,656.2, while the S&P 500 climbed 0.6% to 7,519.3 -- both notching new record finish. The Dow fell 0.2% to 50,461.7, after closing at a record high in the previous session.Six of the 11 sectors ended in the green, led by tech's 1.7% advance, while energy saw the steepest decline.US markets were closed Monday for the Memorial Day holiday.Micron shares surged 19%, the best performer on the S&P 500, as UBS Securities boosted it price target on the semiconductor manufacturer's stock to $1,625 from $535.Micron's market capitalization crossed the $1 trillion mark for the first time.Micron's valuation should get a further boost from long-term agreements in the memory industry, UBS said Tuesday.On Semiconductor (ON) shares jumped 9%, the second-top gainer on the S&P 500. Western Digital (WDC) shares climbed 8.3%, also among the biggest gainers on the index.Some 95% of S&P 500 companies have reported their quarterly financial results in the latest cycle, with earnings up about 28% from a year earlier and revenue rising 11.1%, Oppenheimer Asset Management said in a note.Ahead of the earnings season, FactSet put expected earnings growth at 12.6% year over year, according to the brokerage."The (first-quarter) earnings season rolled on, with many firms reporting strong results and positive guidance," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said. "Bears, skeptics, and nervous investors have been able to take some profits without (the fear of missing out) within what appears to us a bull market that persists having legs to run further."Costco Wholesale (COST), Marvell Technology (MRVL), Salesforce (CRM), and Dell Technologies (DELL) are slated to report results this week.West Texas Intermediate crude oil was down 3% at $93.72 a barrel in Tuesday late-afternoon trade, while Brent rose 3.6% to $99.63.Iran has a "legitimate" right to respond to any violation of a ceasefire by the US, CNN reported Tuesday, citing Tehran's Islamic Revolutionary Guard Corps. Earlier, the US military targeted Iranian missile launch sites and boats around the crucial Strait of Hormuz in what it described as "self-defense strikes," according to the report.US President Donald Trump said Monday that negotiations with Iran were "proceeding nicely," but encouraged countries including Saudi Arabia and Pakistan to join the Abraham Accords, aimed at normalizing diplomatic ties with Israel."While an extended conflict with Iran remains the largest risk to continued market gains, in our view, markets are positioned for more progress on peace talks and the Strait of Hormuz reopening," D.A. Davidson said in a report Tuesday.US Treasury yields were lower, with the 10-year rate last down 6.6 basis points at 4.5% and the two-year rate losing 7.7 basis points to 4.06%."Investors remain focused on whether energy markets stabilize or whether higher oil prices start feeding back into inflation expectations and bond yields again," Saxo Bank said in a report Tuesday.Elbit Systems' (ESLT) first-quarter results rose year on year, while the company said its order backlog topped $30 billion, lifted by surging demand from Israel's Ministry of Defense amid ongoing regional conflicts. The company's US-listed shares advanced 11%.AutoZone (AZO) shares plummeted 9%, the steepest decline on the S&P 500, after the auto parts retailer's fiscal third-quarter earnings topped market estimates, but revenue fell short.In economic news, US consumer confidence fell in May amid mounting inflation concerns as the Middle East conflict has stretched for about three months now, a survey by the Conference Board showed Tuesday.Separately, US annual home price growth decelerated in March, with more than half of the 20 major markets logging decreases, S&P Global (SPGI) division S&P Dow Jones Indices said Tuesday.Gold was last down 0.3% at $4,508.30 per troy ounce, while silver rose 1.5% $77.35 per ounce.

Dow JonesNasdaq CompositeS&P 500$AZO$COST$CRM$DELL$ESLT$MRVL$MU$ON$SPGI$WDC
Equities Mixed Intraday as Markets Track War Updates
US Markets

Equities Mixed Intraday as Markets Track War Updates

US benchmark equity indexes were mixed intraday as traders monitored the latest developments in the Middle East conflict.The Nasdaq Composite was up 0.8% at 26,566.9 after midday Tuesday, while the S&P 500 rose 0.4% to 7,505.5. The Dow Jones Industrial Average fell 0.4% to 50,392.7 after closing at a record high in the previous session.Among sectors, technology paced the gainers intraday Tuesday, while energy saw the steepest decline.US markets were closed Monday for the Memorial Day holiday.West Texas Intermediate crude oil was down 2.7% at $93.97 a barrel intraday Tuesday, while Brent rose 3.9% to $99.85.Iran has a "legitimate" right to respond to any violation of a ceasefire by the US, CNN reported Tuesday, citing Tehran's Islamic Revolutionary Guard Corps. Earlier, the US military targeted Iranian missile launch sites and boats around the crucial Strait of Hormuz in what it described as "self-defense strikes," according to the report.US President Donald Trump said Monday that negotiations with Iran were "proceeding nicely," but encouraged countries including Saudi Arabia and Pakistan to join the Abraham Accords, aimed at normalizing diplomatic ties with Israel.US Treasury yields were lower intraday Tuesday, with the 10-year rate down 6.4 basis points at 4.51% and the two-year rate losing 5.9 basis points to 4.07%.In company news, Micron Technology (MU) shares surged nearly 19%, the best performer on the S&P 500, as UBS Securities boosted it price target on the semiconductor manufacturer's stock to $1,625 from $535."Our supply chain work on long-term agreements across the memory industry suggests that up to 30% of (double data rate) volumes industry-wide will be soon locked in at pricing that is just slightly below current levels, and these agreements will allow (Micron) to trade some near-term revenue for demand visibility and a smoother earnings profile," UBS said in a note to clients.Western Digital (WDC) shares jumped 9.2%, the second-top gainer on the S&P 500, followed by On Semiconductor (ON), up 9%.Elbit Systems' (ESLT) first-quarter results rose year on year, while the company said its order backlog topped $30 billion, lifted by surging demand from Israel's Ministry of Defense amid ongoing regional conflicts. The company's US-listed shares were up 7.5% intraday.AutoZone (AZO) shares plummeted 9.8%, the steepest decline on the S&P 500, after the auto parts retailer's fiscal third-quarter earnings topped market estimates, but revenue fell short.Some 95% of S&P 500 companies have reported their quarterly financial results in the latest cycle, with earnings up about 28% from a year earlier and revenue rising 11.1%, Oppenheimer Asset Management said in a note.Ahead of the earnings season, FactSet put expected earnings growth at 12.6% year over year, according to the brokerage."The (first-quarter) earnings season rolled on, with many firms reporting strong results and positive guidance," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said. "Bears, skeptics, and nervous investors have been able to take some profits without (the fear of missing out) within what appears to us a bull market that persists having legs to run further."Costco Wholesale (COST), Marvell Technology (MRVL), Salesforce (CRM), and Dell Technologies (DELL) are some of the major companies slated to report results this week.Gold was down 0.4% at $4,506.70 per troy ounce, while silver rose 0.6% $76.63 per ounce.

Dow JonesNasdaq CompositeS&P 500$AZO$COST$CRM$DELL$ESLT$MRVL$MU$ON$WDC
S&P 500 Companies' Quarterly Earnings, Revenue Growth Accelerates, Oppenheimer Says
US Markets

S&P 500 Companies' Quarterly Earnings, Revenue Growth Accelerates, Oppenheimer Says

S&P 500 companies' quarterly earnings and revenue growth accelerated, compared with figures from a week ago, with the bottom-line remaining well ahead of Wall Street's expectations as the reporting season approaches its close, Oppenheimer Asset Management said Tuesday.Some 95% of companies in the benchmark equity index have reported results in the latest cycle, with earnings up about 28% from a year earlier and revenue rising 11.1%. Last week's report by the brokerage showed profit and sales growth at 25% and 10.5%, respectively, based on financials reported by 91% of the index constituents.Ahead of the earnings season, FactSet put expected earnings growth at 12.6% year over year, Oppenheimer said."The (first-quarter) earnings season rolled on, with many firms reporting strong results and positive guidance," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a note to clients. "Bears, skeptics, and nervous investors have been able to take some profits without (the fear of missing out) within what appears to us a bull market that persists having legs to run further."Among sectors, technology and communication services outperformed in terms of earnings, with profits up by about 50% and 47% from a year earlier, respectively. Healthcare was the sole decliner, showing bottom-line down 3.1%.Tech also led the chart for revenue growth, with a 29% jump from a year earlier, followed by utilities' 14.1% gain. All 11 S&P sectors saw sales growth on an annual basis, the report showed.Costco Wholesale (COST), Marvell Technology (MRVL), Salesforce (CRM), and Dell Technologies (DELL) are some of the major companies slated to report this week."With (the first-quarter) earnings season winding down, increased attention will be focused on developments to finding resolution to the (US/Israel) conflict with Iran and the economic disruption that it brought," Stoltzfus said Tuesday.Iran's army said it has a "legitimate" right to respond to any violation of a ceasefire after the US military conducted strikes targeting Iranian missile launch sites and boats around the crucial Strait of Hormuz, CNN reported. The two countries are in a fragile ceasefire and have yet to agree to a permanent framework to end their war, which started at the end of February.Price: $1001.60, Change: $-26.64, Percent Change: -2.59%

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