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Wire

Top Midday Stories: Marvell Next Trillion-Dollar Firm, Nvidia CEO Reportedly Says; Anthropic Expands Mythos Access to 150 New Partners

All three major US stock indexes were up in late-morning trading Tuesday, as investors monitor developments between the US and Iran as well as oil price movements.In company news, Nvidia (NVDA) Chief Executive Jensen Huang said Marvell Technology (MRVL) is the next "trillion-dollar company," news outlets reported, citing Huang's appearance at a trade show in Taipei. Nvidia shares were up 0.9%, while Marvell shares were up 29.7%.Amazon-backed (AMZN) Anthropic said Tuesday it is expanding its Project Glasswing program to about 150 new organizations based in over 15 countries, granting them access to Claude Mythos Preview. The partnering organizations use Mythos to scan their codebases for vulnerabilities. So far, the 50 initial partners have found over 10,000 high- or critical-severity security flaws, Anthropic said. Separately, Amazon Web Services will be integrated with Workday (WDAY) Data Cloud, allowing developers to access governed HR and finance data through AWS Ai and analytics tools, Workday said. Amazon shares were down 0.3%, while Workday shares were down 7.1%.Hewlett Packard Enterprise (HPE) reported fiscal Q2 adjusted earnings late Monday of $0.79 per diluted share, up from $0.38 a year earlier and above the FactSet consensus of $0.53. Fiscal Q2 revenue was $10.7 billion, up from $7.63 billion a year ago and above the FactSet consensus of $9.78 billion. For fiscal Q3, the company expects adjusted EPS of $0.88 to $0.93 on revenue of $11.5 billion to $12.1 billion. Analysts polled by FactSet expect $0.58 and $10.9 billion, respectively. For its full-year guidance, the company now expects adjusted EPS of $3.35 to $3.45, up from its prior forecast of $2.30 to $2.50 and above the FactSet consensus of $2.42. Hewlett Packard shares were up 21.5%.Alphabet (GOOG, GOOGL) said Monday it plans to raise $80 billion in equity to help fund investments in AI compute infrastructure, including a $10 billion private placement to Berkshire Hathaway (BRK.A, BRK.B), split evenly between class A common stock at $351.81 per share and class C capital stock at $348.20 per share. Alphabet's class A shares were down 2.3%, while its class C shares were down 2.2%. Berkshire's class A shares were up 0.4%, while its class B shares were up 0.3%.President Donald Trump signed a proclamation on Tuesday lowering the tariffs on agricultural equipment and certain other equipment to 15% from 25%, the White House said. In addition, the existing category of industrial equipment subject to a 15% tariff was expanded to include mobile industrial equipment, like bulldozers and forklifts, "when imported from trade deal countries that are entitled to such treatment," the White House said. The proclamation also allows foreign companies to qualify for a 10% duty rate if their capital equipment includes at least 85% US melted and poured or smelted and cast steel or aluminum by weight, the White House said. The tariff changes will last until Dec. 31, 2027, the White House said. Shares of Deere (DE), Agco (AGCO), CNH Industrial (CNH) and Caterpillar (CAT) were up 5.3%, 6.1%, 10.1% and 4.7%, respectively.IBM (IBM) said Tuesday it plans to invest over $10 billion in quantum computing over the next five years. The investment will go toward research and development, capital expenditure, manufacturing scaling, ecosystem partnerships and M&A, the company said. IBM shares were up 1.1%.Price: $283.09, Change: $+63.66, Percent Change: +29.01%

$AGCO$AMZN$BRK.A$BRK.B$CAT$CNH$DE$GOOG$GOOGL$HPE$IBM$MRVL$NVDA$WDAY
Wire

Hewlett Packard Enterprise Sees Server Pricing, Demand Driving Earnings Upside, Morgan Stanley Says

Hewlett Packard Enterprise (HPE) is seeing stronger-than-expected server pricing and demand, driven by tight supply and rising AI and infrastructure spending, a trend Morgan Stanley said is driving higher earnings expectations for 2026 and 2027.The investment firm said in a Tuesday note that both traditional and AI server segments are driving upside. Orders are accelerating and pricing remains strong as enterprises and cloud providers pull forward demand to secure supply. The trend is also helping build backlog visibility into 2027.Customers also continue to absorb higher DRAM- and NAND-related server pricing amid supply constraints, according to the note.Morgan Stanley raised its earnings expectations for 2026 and 2027 and now forecasts 2027 earnings per share of $4.16. The firm cited stronger margins and server execution, as well as sustained pricing power and operating leverage despite elevated input costs.The analyst cautioned that demand beyond 2027 remains uncertain and visibility into 2028 is limited. Networking trends remain stable and cost synergies continue to support margins. However, investors are still debating whether the current strength reflects a multi-year cycle or a shorter AI-driven spending surge, the report added.Morgan Stanley maintained its equal-weight rating on the stock and raised its price target to $71 from $33.Shares of Hewlett Packard Enterprise were up 25% in Tuesday trading.Price: $58.74, Change: $+11.74, Percent Change: +24.98%

$HPE
Wire

UBS Adjusts Price Target on Hewlett Packard Enterprise to $65 From $25, Maintains Neutral Rating

Hewlett Packard Enterprise (HPE) has an average rating of overweight and mean price target of $64.13, 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)Price: $58.98, Change: $+11.92, Percent Change: +25.32%

$HPE
Sectors

Sector Update: Tech Stocks Advance Premarket Tuesday

Technology stocks were advancing premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.2% lower and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 3%.Marvell Technology (MRVL) shares were up more than 16% after multiple news outlets reported that Nvidia (NVDA) chief executive officer Jensen Huang called the chipmaker the next "trillion-dollar company."Hewlett Packard Enterprise (HPE) stock was up more than 27% after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its fiscal 2026 outlook.STMicroelectronics (STM) shares were up more than 9% after the company said it now expects to generate data center revenue of $1 billion this year, compared with its previous guidance of "nicely above $500 million."

$HPE$MRVL$STM$XLK$XSD
Asia Markets

Wall Street Set to Open Lower in Tuesday Trading as Investors Look for Signs of Middle East Peace Deal, Await Key Labor Data

US stocks look set to open modestly lower in Tuesday's trading session as investors look for any signs that stalled Middle East may restart, and await key labor market data set for release later in the morning.The Dow Jones Industrial Average futures were down 0.5%, S&P 500 futures were off 0.2%, and Nasdaq futures were edging 0.1% lower.The Job Openings and Labor Turnover Survey (JOLTS) for April is set to be released at 10 am ET, which will give investors a good indication on the strength of the US labor market. The reading is expected to remain unchanged at 6.866 million job openings, according to Bloomberg.Oil prices were moving lower, with front-month global benchmarks Brent crude declining 0.96% to $94.07 a barrel, while West Texas Intermediate crude was down 1.10% to $91.15 a barrel.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng surged 2.5%, and China's Shanghai Composite gained 0.4%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was edging 0.1% higher, Germany's DAX was up 0.7%, and France's CAC was rising 0.5%.In equities, shares of Hewlett Packard Enterprise (HPE) surged 27% in Tuesday's premarket session after it reported fiscal Q2 earnings late Monday that beat analyst forecasts.Marvell Technology (MRVL) shares climbed 18% after multiple news outlets reported that Nvidia (NVDA) Chief Executive Jensen Huang called the chipmaker the next "trillion-dollar company."Shares of STMicroelectronics (STM) advanced 10% after it said Tuesday that it now expects to generate data center revenue of about $1 billion in 2026, compared with previous guidance of more than $500 million.On the losing side, shares of Abivax (ABVX) tumbled 35% after the company's phase 3 maintenance trial evaluating obefazimod in ulcerative colitis met its primary endpoint and key secondary endpoints, though malignancy cases reported during the trial weighed on the results.AEVEX's (AVEX) stock was down 11% pre-bell after it reported late Monday it launched a public offering of its class A common shares, along with certain selling shareholders.And Praxis Precision Medicines' (PRAX) shares were down 10% after it reported late Monday that its phase 2/3 trial assessing vormatrigine to treat focal onset seizures failed to meet its primary endpoint of percent change in monthly seizure frequency from baseline.

Dow JonesNasdaq CompositeS&P 500$ABVX$AVEX$HPE$MRVL$PRAX$STM
Stocks Down Pre-Bell Amid Uncertainty Over US-Iran Peace Talks
US Markets

Stocks Down Pre-Bell Amid Uncertainty Over US-Iran Peace Talks

The benchmark US stock measures were tracking in the red before the opening bell Tuesday amid uncertainty over the status of peace talks between the US and Iran.The S&P 500 and the Nasdaq edged down 0.1% each in premarket activity, while the Dow Jones Industrial Average was off 0.2%. All three indexes logged new closing highs in the previous trading session.In a social media post on Monday, President Donald Trump said that talks with Iran were continuing "at a rapid pace." The post came after Trump told CNBC in an interview earlier on Monday that he "couldn't care less" if negotiations with Tehran failed.Iranian state-affiliated outlet Tasnim reportedly said Monday that the country suspended talks with Washington in retaliation to Israel's military action in Lebanon. In a separate social media post, Trump said he spoke to Israeli Prime Minister Benjamin Netanyahu and Iran-backed Hezbollah representatives, with both agreeing to stop the fighting."These shifting conditions alongside continued kinetic skirmishes between the parties are likely to further erode Iranian trust as officials have already cited the fluidity of priorities as a point of friction with Iran making clear that nuclear dialogue is contingent on successful negotiations to end the war and reopen the Strait of Hormuz," Tudor Pickering Holt said in a note on Monday.West Texas Intermediate crude oil declined 1.2% to $91.06 a barrel before the opening bell, while Brent decreased 1.1% to $93.90.Tuesday's thin economic calendar has the Job Openings and Labor Turnover Survey for April at 10 am ET. Federal Reserve Bank of Cleveland President Beth Hammack is scheduled to speak at 8:30 am.Treasury yields were down in premarket action, with the two-year rate retreating 3.9 basis points to 4.01% and the 10-year rate falling 4.7 basis points to 4.43%.Shares of Marvell Technology (MRVL) jumped 24% pre-bell after the company finished Monday trading with a 7% gain. Hewlett Packard Enterprise (HPE) rose 26% as the information technology firm lifted its full-year outlook and reported stronger-than-expected fiscal second-quarter results.Alphabet's (GOOG, GOOGL) class A and C shares declined more than 2% each as the Google parent disclosed plans to raise $80 billion in equity for artificial intelligence infrastructure expansion.Dollar General (DG), Donaldson (DCI), Victoria's Secret (VSCO) and Signet Jewelers (SIG) report their latest financial results before the bell, among others. Palo Alto Networks (PANW), Ulta Beauty (ULTA) and GitLab (GTLB) post earnings after the markets close.Gold gained 1.2% to $4,561 per troy ounce, while bitcoin dropped 2.7% to $69,539.

Dow JonesNasdaq CompositeS&P 500$DCI$DG$GOOG$GOOGL$GTLB$HPE$MRVL$PANW$SIG$ULTA$VSCO
Hewlett Packard Enterprise Raises Fiscal 2026 Outlook Following Second-Quarter Beat
US Markets

Hewlett Packard Enterprise Raises Fiscal 2026 Outlook Following Second-Quarter Beat

Hewlett Packard Enterprise (HPE) shares jumped early Tuesday as the information technology firm lifted its full-year outlook and reported stronger-than-expected fiscal second-quarter results.The company now anticipates adjusted earnings to be in a range of $3.35 to $3.45 per share for fiscal 2026, it said late Monday, up from its previous guidance of $2.30 to $2.50. The current consensus on FactSet is for non-GAAP EPS of $2.92.Revenue is now pegged to grow by 29% to 33% for the ongoing fiscal year, compared with the firm's prior projections for a 17% to 22% increase. The Street is looking for sales of $43.72 billion. The stock surged 25% in the most recent premarket activity."Based on our performance, we are raising our fiscal 2026 guidance and introducing a fiscal 2027 financial growth framework," Chief Financial Officer Marie Myers said in the earnings release. "These updates reflect the durability of our performance and continued operational excellence - and point to faster progress toward our long-term financial plan."For fiscal 2027, Hewlett Packard expects adjusted EPS to rise by 12% to 16% on revenue growth of 8% to 12%. The current average analyst estimate on FactSet is for non-GAAP EPS of $3.38 and sales of $46.8 billion for fiscal 2027.For the three months through April 30, Hewlett Packard's adjusted EPS advanced to $0.79 from $0.38 a year earlier, surpassing the Street's view for $0.53. Revenue climbed 40% to $10.68 billion, exceeding the market's forecast of $9.78 billion."Demand was even stronger than revenue growth," Chief Executive Antonio Neri said during a conference call, according to a FactSet transcript. "Orders more than doubled, significantly outpacing revenue, resulting in a record company backlog."Revenue in the cloud and artificial intelligence segment inclined 23% to $7.71 billion. "Strong order activity and pass through of higher costs on new orders in traditional server and storage drove the upside, partially offset by supply constraints and timing of AI server shipments," Myers told analysts. The networking business recorded revenue of $2.69 billion, up from $1.08 billion in the prior-year quarter."The biggest takeaway from the quarter was that (Hewlett Packard) is benefiting from the same pricing dynamic that has recently driven upside at (Dell Technologies)," Morgan Stanley said in a note emailed toon Tuesday. "Customers are absorbing materially higher server prices with little evidence of demand destruction."Last week, Dell raised its fiscal 2027 outlook after posting record first-quarter results that topped Wall Street's estimates amid surging demand for AI-optimized servers.For the ongoing quarter, Hewlett Packard projects adjusted EPS to come in between $0.88 and $0.93 on a revenue range of $11.5 billion to $12.1 billion. The Street is looking for non-GAAP EPS of $0.76 and sales of $11.39 billion."We are taking up our outlook on the back of (second-quarter) results and greater visibility into the second half demand environment," Myers said on the call.

$HPE
Research

Loop Capital Upgrades Hewlett Packard Enterprise to Buy From Hold, Adjusts PT to $75 From $23

Hewlett Packard Enterprise (HPE) has an average rating of overweight and mean price target of $53.67, 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)

$HPE
Research

Research Alert: Hpe Q2: Massive Beats And Guidance Increases As Ai Tailwinds Strengthen

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:HPE reported Q2 FY 26 (Apr-Q) results that blew away consensus expectations, with non-GAAP EPS of $0.79 (+108% Y/Y) beating expectations for $0.53 and revenue of $10.68B (+40% Y/Y) coming in ahead of the Street's $9.76B view. Non-GAAP gross margin expanded 750 bps Y/Y while operating margin of 13.3% was up 530 bps. Results reflect growing AI demand and the strength of HPE's networking portfolio, with Networking sales surging 148% Y/Y (driven by the Juniper acquisition) and Cloud & AI segment revenue growing 23% Y/Y to $7.7B. FY 26 guidance was raised materially, with HPE's revenue midpoint now at $44.9B (consensus $40.84B), non-GAAP EPS lifted to a midpoint of $3.40 from a prior $2.40 view (consensus $2.42), and FCF guidance upped to at least $3.5B from at least $2.0B. Management also provided initial FY 27 sales growth expectations at about 10%, placing FY 27 sales around $49.4B (14% above consensus) in a confident move that reflects improving visibility and strengthening AI tailwinds.

$HPE
Wire

Hewlett Packard Enterprise Fiscal Q2 Adjusted Earnings, Revenue Rise; Shares Surge After Hours

Hewlett Packard Enterprise (HPE) reported fiscal Q2 adjusted earnings late Monday of $0.79 per diluted share, up from $0.38 a year earlier.Analysts polled by FactSet expected $0.53.Revenue in the three months ended April 30 rose to $10.7 billion from $7.63 billion a year earlier.Analysts surveyed by FactSet expected $9.78 billion.Hewlett Packard Enterprise expects Q3 adjusted EPS of $0.88 to $0.93 on revenue of $11.5 billion to $12.1 billion.Analysts polled by FactSet expect adjusted EPS of $0.58 on revenue of $10.9 billion.The company boosted full-year adjusted EPS guidance to $3.35 to $3.45 from the prior range of $2.30 to $2.50.Analysts polled by FactSet project $2.42.Hewlett Packard Enterprise shares surged 31% in after-hours trading.

$HPE
Update: S&P 500 Companies' Earnings Grow 28% as Reporting Season Approaches End, Oppenheimer Says
US Markets

Update: S&P 500 Companies' Earnings Grow 28% as Reporting Season Approaches End, Oppenheimer Says

(Article updated to include consolidated revenue figures in the fourth paragraph, as confirmed by Oppenheimer.)S&P 500 companies' quarterly earnings growth held steady at nearly 28% compared with financials reported up until a week ago, putting the index on track to close out the most recent cycle well above estimates, Oppenheimer Asset Management said Monday.Some 97% of companies in the benchmark equity index have reported results this season, with earnings up 27.7% from a year earlier. Last week's report by the brokerage showed profit growth at 27.5%, based on figures reported by 95% of the index constituents.Heading into the cycle, FactSet put expected earnings growth at 12.6% year over year, Oppenheimer said.First-quarter revenue growth accelerated to 11.6% from last report's 11.1%."With May in the rearview mirror, two thirds of the second quarter is done," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a note to clients. "Traders and investors will now navigate the six-week road ahead to S&P 500 (second-quarter) earnings season which won't really get underway until the big banks report results on July 14."Among sectors, technology and communication services outperformed in terms of earnings growth, with profits up by 50% and nearly 47% from a year earlier, respectively. Healthcare was the sole decliner.All 11 S&P sectors saw sales growth on an annual basis, led by technology, utilities and communication services, according to Oppenheimer's report.Hewlett Packard (HPE), Palo Alto Networks (PANW), Broadcom (AVGO) and CrowdStrike (CRWD) are slated to report quarterly results this week.Markets continue to track the latest developments around the Middle East conflict. Iran suspended talks with the US in retaliation to Israel's military action in Lebanon, CNBC reported Monday, citing Iranian state-affiliated outlet Tasnim."We do expect some kind of resolution to be arrived at because of the economic and geopolitical pressures put on both sides of the negotiation table tied to the collateral damage caused to economies around the world as a result of the current conflict," Stoltzfus said.Price: $47.38, Change: $+4.34, Percent Change: +10.08%

$AVGO$CRWD$HPE$PANW
Equities Mostly Rise Intraday Amid Nvidia Rally; Oil Jumps
US Markets

Equities Mostly Rise Intraday Amid Nvidia Rally; Oil Jumps

US benchmark equity indexes were mostly higher intraday as Nvidia (NVDA) helped lift the technology sector, while oil prices jumped as markets tracked the latest developments in the Middle East.The Nasdaq Composite was up 0.7% at 27,169.1 after midday Monday, while the S&P 500 rose 0.4% to 7,612.6. The Dow Jones Industrial Average was little changed at 51,017.1. All three benchmarks notched fresh closing highs in the previous session.Barring tech and energy, all sectors were in the red intraday Monday, led by utilities.In company news, Nvidia shares jumped 5.6%, among the top gainers on the Dow. On Sunday, the tech bellwether announced a new artificial intelligence chip to power Microsoft (MSFT) Windows personal computers, called RTX Spark, entering the consumer PC processor market.Microsoft shares were up 1.8% intraday Monday.Salesforce (CRM) was the best performer on the S&P 500, up 9.5%, after it said it will invest $2 billion in France through 2030. Separately, Salesforce said it agreed to buy Contentful, a "composable" content platform.Dell (DELL) shares were up 8.9% intraday, extending its rally. Morgan Stanley upgraded its rating on the computer maker's stock to equal-weight from underweight and raised its price target to $448 from $170. Dell is outperforming peers in navigating semiconductor supply shortages, the brokerage said.S&P 500 companies' quarterly earnings growth held steady at nearly 28%, compared with financials reported up until a week ago, putting the index on track to close out the most recent cycle well above estimates, Oppenheimer Asset Management said in a note.Hewlett Packard (HPE), Palo Alto Networks (PANW), Broadcom (AVGO) and CrowdStrike (CRWD) are scheduled to release quarterly results this week.West Texas Intermediate crude oil was up 4.8% at $91.54 a barrel, while Brent rose 3.9% to $94.70.Talks with Iran are continuing at "a rapid pace," US President Donald Trump said in a social media post Monday.Iran will suspend talks through intermediaries with the US and will move to completely shut the Strait of Hormuz in retaliation to alleged ceasefire violations, CNBC reported, citing Iran's state-affiliated news outlet Tasnim.In a separate social media post, Trump said he had a call with Israeli Prime Minister Benjamin Netanyahu, adding that no troops will be going to Beirut, while any troops that are on their way have already been turned back."Likewise, through highly placed representatives, I had a very good call with Hezbollah, and they agreed that all shooting will stop -- that Israel will not attack them, and they will not attack Israel," Trump said.US Treasury yields were higher intraday, with the 10-year rate up 1.6 basis points at 4.47%, and the two-year rate rising 3.5 basis points to 4.05%.In economic news, the US manufacturing sector expanded to its highest level in four years last month amid strength in demand and production, though price pressures remained elevated, two separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed."Even with improving activity, the persistence of elevated cost pressures is likely to constrain the pace of expansion and keep policymakers cautious, limiting the scope for near-term monetary-policy easing," TD Economics said in a note.Gold was down 1.5% at $4,523.30 per troy ounce, while silver fell 0.4% to $75.59 per ounce.

Dow JonesNasdaq CompositeS&P 500$AVGO$CRM$CRWD$DELL$HPE$MSFT$NVDA$PANW$SPGI
S&P 500 Companies' Earnings Grow 28% as Reporting Season Approaches End, Oppenheimer Says
US Markets

S&P 500 Companies' Earnings Grow 28% as Reporting Season Approaches End, Oppenheimer Says

S&P 500 companies' quarterly earnings growth held steady at nearly 28% compared with financials reported up until a week ago, putting the index on track to close out the most recent cycle well above estimates, Oppenheimer Asset Management said Monday.Some 97% of companies in the benchmark equity index have reported results this season, with earnings up 27.7% from a year earlier. Last week's report by the brokerage showed profit growth at 27.5%, based on figures reported by 95% of the index constituents.Heading into the cycle, FactSet put expected earnings growth at 12.6% year over year, Oppenheimer said."With May in the rearview mirror, two thirds of the second quarter is done," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a note to clients. "Traders and investors will now navigate the six-week road ahead to S&P 500 (second-quarter) earnings season which won't really get underway until the big banks report results on July 14."Among sectors, technology and communication services outperformed in terms of earnings growth, with profits up by 50% and nearly 47% from a year earlier, respectively. Healthcare was the sole decliner.All 11 S&P sectors saw sales growth on an annual basis, led by technology, utilities and communication services, according to Oppenheimer's report.Hewlett Packard (HPE), Palo Alto Networks (PANW), Broadcom (AVGO) and CrowdStrike (CRWD) are slated to report quarterly results this week.Markets continue to track the latest developments around the Middle East conflict. Iran suspended talks with the US in retaliation to Israel's military action in Lebanon, CNBC reported Monday, citing Iranian state-affiliated outlet Tasnim."We do expect some kind of resolution to be arrived at because of the economic and geopolitical pressures put on both sides of the negotiation table tied to the collateral damage caused to economies around the world as a result of the current conflict," Stoltzfus said.Price: $45.50, Change: $+2.46, Percent Change: +5.72%

$AVGO$CRWD$HPE$PANW
Stocks Rise Pre-Bell as Traders Monitor Middle East Developments, Await Fresh Labor Market Data
US Markets

Stocks Rise Pre-Bell as Traders Monitor Middle East Developments, Await Fresh Labor Market Data

The benchmark US stock measures were pointing higher before the opening bell Monday as traders assess the latest developments in the Middle East and await fresh labor market data later in the week.The S&P 500 and the Nasdaq rose 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.4%. The indexes finished Friday's trading session at new highs.The US and Iran exchanged messages over the weekend on amendments to a draft agreement that would extend their ceasefire and reopen the Strait of Hormuz, Bloomberg News reported Monday. Iran's semi-official Tasnim news agency said Sunday that both sides continued to propose amendments, but could ultimately reject each other's proposals, according to the report.In a social media post on Monday, Trump said that Iran "really wants to make a deal" and that it will be a "good one" for the US and its allies.Israel's Prime Minister Benjamin Netanyahu on Monday ordered the Israeli military to attack targets in Beirut, Lebanon.West Texas Intermediate crude oil gained 3.6% to $90.53 a barrel before the open, while Brent inclined 3.1% to $93.96.Investors will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for April on Tuesday, followed by the ADP employment report for May on Wednesday. The Challenger Job Cut report and the government's nonfarm payrolls data, both for last month, are scheduled to be released on Thursday and Friday, respectively.Treasury yields were trending upwards in premarket action, with the two-year rate increasing 2.3 basis points to 4.04% and the 10-year rate rising 1.4 basis points to 4.47%.Monday's economic calendar has the final Purchasing Managers' manufacturing index for May at 9:45 am ET, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am.Shares of Nvidia (NVDA) advanced 2.2% pre-bell after the tech bellwether unveiled a new chip processor for Microsoft (MSFT) Windows laptops. Intel (INTC) dropped 5.1% while Adobe (ADBE) climbed 4.6%.Taylor Morrison Home's (TMHC) stock jumped 22% after the homebuilder agreed to be acquired and taken private by multinational conglomerate Berkshire Hathaway (BRK.A, BRK.B) in an all-cash deal with an equity value of about $6.8 billion.Broadcom (AVGO), Palo Alto Networks (PANW) and CrowdStrike (CRWD) are some of the major companies scheduled to report their latest financial results later this week. Hewlett Packard Enterprise (HPE) will release its earnings after the markets close Monday.Gold fell 1.3% to $4,535 per troy ounce, while bitcoin decreased 1.1% to $72,601.

Dow JonesNasdaq CompositeS&P 500$ADBE$AVGO$BRK.A$BRK.B$CRWD$HPE$INTC$MSFT$NVDA$PANW$TMHC
Wire

HPE Expands Server Portfolio With Nvidia Processors

Hewlett Packard Enterprise (HPE) said Monday it expanded its server portfolio with the release of the ProLiant Compute DL394 Gen12 using Nvidia (NVDA) Vera processors.The hardware is engineered to support high-performance artificial intelligence and data processing applications, the company said.The device uses a monolithic chip design and high-efficiency memory to avoid calculation delays, and integrates quantum-resistant security protocols and unified management software to automate operations, HPE said.The product will be available by the end of the year and is offered through a corporate financing plan, it added.Shares of HPE were up over 6% in Monday premarket activity.Price: $45.86, Change: $+2.80, Percent Change: +6.50%

$HPE$NVDA
Asia Markets

US Equity Investors to Focus on Labor Market Data and Trump's Decision on Framework to End Iran War This Week

US equity investors will focus this week on the labor market data while keeping an eye on another mega-cap chipmaker's quarterly earnings and President Donald Trump's decision on a framework to end the Iran war.* The Bureau of Labor Statistics will release nonfarm payrolls on Friday, with the market forecasting an expansion of 95,000, according to data compiled by Bloomberg. Payrolls increased 115,000 in April, surpassing the 65,000 gain expected, and marking the first back-to-back months of positive job creation since May 2025, according to a note from Stifel. Payrolls increased 178,000 in March, above the 65,000 jump expected and marking the largest monthly gain since December 2024, the note said.* Other macroeconomic data due this week includes the ISM manufacturing and services purchasing manager's indexes, JOLTS job openings, ADP nonfarm employment change, and initial jobless claims.* Quarterly earnings on the tap this week include Broadcom (AVGO), Hewlett Packard Enterprise (HPE), Palo Alto Networks (PANW), Dollar General (DG), CrowdStrike (CRWD), and Planet Labs (PL).* The US said it struck Iranian military sites at the weekend and Iran's Revolutionary Guards said on Monday it had targeted a U.S. base in response, Reuters reported early Monday. The weekend US strikes on Iran's Gulf coast were in response to "aggressive Iranian actions that included the shootdown of a US MQ-1 drone that was operating over international waters," the US Central Command said in a post on X.* Meanwhile, Israeli forces have captured a strategically important fortress, marking the country's deepest incursion into Lebanon in more than a quarter of a century, SKY News reported early Monday.* Early Monday, Brent crude futures jumped 3.7% to $94.53, and West Texas Intermediate crude oil futures surged 4.3% to $91.09. US Treasury yields rose, with the 10-year up 1.8 basis points to 4.47% and the two-year higher by 2.6 basis points to 4.04%.

Dow JonesNasdaq CompositeS&P 500$AVGO$CRWD$DG$HPE$PANW$PL
Wire

IT Hardware Stocks May Not Fully Reflect Macro, Earnings Risks, Morgan Stanley Says

IT hardware stocks may not fully reflect growing macro and earnings risks despite strong recent gains and elevated valuations, Morgan Stanley said Thursday in a report.Hardware stocks have outperformed over the past three months as spending has remained stronger than expected, supported by enterprise customers pulling forward demand and optimism around the "CPU Renaissance" theme, the report said.Earnings revisions are near 15-year highs, while the next 12-month price-to-earnings ratio is about four times the prior peak, the report said. The market is underestimating risks tied to the memory supercycle, supply-chain shortages, and a more volatile macroeconomic backdrop, Morgan Stanley said."However, our concerns won't necessarily materialize in a broad-based cautionary off-cycle earnings period, as the near-term resilience in spend is creating a more H2-loaded catalyst path," the report said.Over the next two weeks, earnings are expected to be mixed, with Dell Technologies (DELL) likely to report the strongest results, followed by Hewlett Packard Enterprise (HPE) and Everpure (P), while HP (HPQ) and NetApp (NTAP) face a higher risk of weaker margins and EPS guidance, the report said.Morgan Stanley boosted its price target on Dell to $170 from $110, raised Hewlett Packard Enterprise to $33 from $25, and lifted HP to $17 from $16.Price: $247.29, Change: $+4.35, Percent Change: +1.79%

$DELL$HPE$HPQ$NTAP$P
Wire

Ingram Micro Selected as Global Distributor for Hewlett Packard Enterprise

Ingram Micro (INGM) said Thursday it was selected as a global distributor for Hewlett Packard Enterprise (HPE) that offer it expanded territory reach and full access to its portfolio spanning cloud to artificial intelligence.The designation positions the company to deliver value at scale due to the introduction of enhanced services and support through the Ingram Micro HPE Partner Growth Accelerator Program, according to a statement.Ingram Micro said it is now one of two global HPE distributors, giving greater market access across countries.Price: $26.51, Change: $+0.68, Percent Change: +2.63%

$HPE$INGM
Asia Markets

US Equity Indexes Mixed as Communication Services, Tech Help Outweigh Impact of Hot Producer Prices

US equity indexes closed mixed on Wednesday, as communication services and technology led sectors amid the fastest annual pace of growth in producer prices in four years, signaling the strength of the so-called AI trade.The Dow Jones Industrial Average fell 0.1% to 49,693.20. The Nasdaq jumped 1.2% to 26,402.34, and the S&P 500 climbed 0.6% to 7,444.25.In a broadly positive tape, communication services, technology, and consumer discretionary were among the top gainers. Utilities, financials, real estate, and industrials declined.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, seven were from technology and communication services, according to data compiled by Finviz. Nasdaq's leaders included Marvell Technology (MRVL), Arm (ARM), and Micron Technology (MU). In the S&P 500, ON Semiconductor (ON) and Hewlett-Packard Enterprise (HPE) were among the biggest outperformers. Nvidia (NVDA) and Cisco (CSCO) were in the top five gainers on the Dow.In economic news, the Producer Price Index soared 1.4% month-over-month in April from a 0.7% gain in March, according to the Bureau of Labor Statistics. The print beat the 0.5% increase expected in a Bloomberg-compiled survey. After excluding food and energy prices, core PPI surged 1.0% from 0.2%, above the 0.3% advance anticipated.Year-over-year, PPI soared 6.0% in April while core PPI catapulted 5.2%, both above their respective March rates and the strongest readings since December 2022.A hotter-than-expected PPI, coupled with Tuesday's larger-than-expected rise in the consumer price index, underscores not only the price impact already realized but the "additional inflationary pressures still coming down the pipeline," according to a Stifel note.With energy cost passthrough likely to keep year-over-year core personal consumption expenditures, or PCE, inflation closer to 3% than 2% all year, Goldman Sachs said in a note that lower monthly inflation prints after the oil shock fades and further labor market softening will likely be needed for Fed rate cuts this year."We now expect it to take a bit longer to meet that bar," the investment bank said while pushing back the final two rate cuts in its forecast to December 2026 and March 2027.US Treasury yields were mostly down, with the 10-year steady to slightly lower at 4.47%.The two-year slipped 1.5 basis points to 3.98%.Meanwhile, in its closely watched Oil Market Report, the International Energy Agency said the loss of Persian Gulf supply is depleting global inventories at a record pace. Inventories fell by 129 million barrels per day in March and by 117 million bpd in April, though rising output from producers outside of the Gulf is helping to ease the supply shock."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 mb/d of oil now shut in, an unprecedented supply shock," the agency said.Nevertheless, West Texas Intermediate crude oil futures fell 0.9% to $101.29, and Brent crude futures declined 1.8% to $105.81.In precious metals, gold futures rose 0.3% to $4,696.2, and silver futures jumped 3.1% to $88.27.

Dow JonesNasdaq CompositeS&P 500$ARM$CSCO$HPE$MRVL$MU$NVDA$ON
Japan

US Equity Indexes Mixed as Communication Services, Tech Gains Offset Impact of Hot Producer Prices

US equity indexes were mixed ahead of Wednesday's close as communication services and technology topped sector charts, while producer prices grew at the fastest annual pace in four years.The Dow Jones Industrial Average fell 0.1% to 49,707.1, trading off session lows. The Nasdaq jumped 1.3% to 26,435.3, and the S&P 500 climbed 0.7% to 7,452.8 in the final leg of trading. Utilities, financials, real estate, and industrials declined. In a broadly positive tape, communication services, technology, and consumer discretionary were among the top gainers.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, seven were from technology and communication services. Nasdaq's leaders included Marvell Technology (MRVL), Arm (ARM), and Micron Technology (MU). In the S&P 500, ON Semiconductor (ON) and Hewlett-Packard Enterprise (HPE) were among the biggest outperformers. Nvidia (NVDA) and Cisco (CSCO) were in the top five gainers on the Dow.In economic news, the US Producer Price Index soared 1.4% month-over-month in April from a 0.7% gain in March, according to the Bureau of Labor Statistics. The print beat the 0.5% increase expected in a Bloomberg-compiled survey. After excluding food and energy prices, core PPI surged 1.0% from 0.2%, above the 0.3% advance anticipated.Year-over-year, PPI soared 6.0% in April while core PPI catapulted 5.2%, both above their respective March rates and the strongest readings since December 2022.A hotter-than-expected PPI, coupled with Tuesday's larger-than-expected rise in the consumer price index, underscores not only the price impact already realized but the "additional inflationary pressures still coming down the pipeline," according to a Stifel note.US Treasury yields were mostly lower, with the 10-year steady at 4.47% while the two-year slipped 1.5 basis points to 3.98%.

Dow JonesNasdaq CompositeS&P 500$ARM$CSCO$HPE$MRVL$MU$NVDA$ON

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