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Nvidia Discloses New AI Chip to Power Windows PCs
US Markets

Nvidia Discloses New AI Chip to Power Windows PCs

Nvidia (NVDA) has announced a new artificial intelligence chip to power Microsoft (MSFT) Windows personal computers, called RTX Spark, entering the consumer PC processor market.RTX Spark delivers the full Nvidia AI and graphics technology stack to creators, AI developers and gamers, according to a joint statement on Sunday.RTX Spark will be available this fall from manufacturers including ASUS, Dell (DELL), HP (HPQ), Lenovo, Microsoft Surface and MSI, to be followed by models from Acer and GIGABYTE."The PC is being reinvented," Nvidia Chief Executive Jensen Huang said. "For forty years, you launched apps. Click. Type. With RTX Spark and Microsoft Windows, you ask -- and the PC does the work."These new PCs are designed for the era of personal AI agents, Nvidia said."This marks a key milestone in the rich, full-stack collaboration between Microsoft and Nvidia spanning gaming, AI and cloud -- from DirectX and RTX to Nvidia-accelerated AI workloads on Azure -- driving end-to-end innovation for our shared customers," Pavan Davuluri, executive vice president, Windows + Devices, said in a blogpost on Sunday. "These next-generation Windows PCs represent the next step on that journey."RTX Spark marks Nvidia's formal entry into the consumer PC processor market, Wedbush Securities said in a report on Monday."We believe (Nvidia's) previous work around using (graphics processing units) to enable AI workloads in PCs should benefit (its) push to define the agentic PC," Wedbush analyst Matt Bryson wrote. "But we also wonder how much even a successful implementation might mean for (Nvidia), given the ultimately small size of the PC market (vs. NVDA's accelerator business)."Nvidia's foray into the AI-enhanced consumer PC business could hurt Intel (INTC) in particular, Bryson said.Bryson sees "limited near-term competitive implications" from the Nvidia-Microsoft collaboration.Nvidia said it is collaborating with Adobe (ADBE) to "rearchitect" Adobe Premiere and Photoshop for RTX Spark.Shares of Nvidia were up 5% in Monday trading and Microsoft rose 2.6%. Adobe jumped 5.9%, while Intel fell 3.2%. Dell and HP gained 8.3% each.Price: $221.79, Change: $+10.65, Percent Change: +5.04%

$ADBE$DELL$HPQ$INTC$MSFT$NVDA
Wire

Top Midday Stories: Oil Rises After Iran Reportedly Says It's Halting Messages With US; Nvidia Launches New AI Chip for Laptops

The Dow Jones Industrial Average was down, while the S&P 500 Index and Nasdaq Composite were roughly flat in late-morning trading Monday, as oil prices rose after Iranian state media disclosed that Iran would halt messages with the US over Israel's military operations in Lebanon.In company news, Nvidia (NVDA) said Monday it has launched RTX Spark, a new AI chip that will feature in Microsoft (MSFT) Windows laptops and desktop personal computers. The chip features an Nvidia Blackwell RTX graphics processing unit, 1 petaflop of AI compute and 128gb of unified memory, Nvidia said. RTX Spark will power its Windows laptops, including Microsoft Surface, and those of its PC partners ASUS, Dell (DELL), HP (HPQ), Lenovo and MSI, Microsoft said in a blogpost. Nvidia shares were up 3.9%, while those of Microsoft, Dell and HP were up 2.0%, 8.5% and 7.2%, respectively.People Inc. said Monday it has submitted a non-binding proposal to acquire all outstanding MGM Resorts International (MGM) shares it doesn't already own for $48.30 per share in cash. The proposal represents a 24.1% premium to the volume-weighted average price of MGM common stock for the 30 trading days ending on May 29, People said. MGM shares were up 16.5%.Taylor Morrison Home (TMHC) has agreed to be acquired by Berkshire Hathaway (BRK.A, BRK.B) for $6.8 billion in cash and a total enterprise value of about $8.5 billion, the companies said Sunday. Berkshire will pay $72.50 per share, a 24% premium to Taylor Morrison's latest closing price of $58.50 on May 29, the companies said. The deal is expected to close in H2, at which point Taylor Morrison will continue to be managed by its existing management team, the companies said. Taylor Morrison shares were up 22.6%, while Berkshire's Class A and Class B shares were down 0.7% and 0.8%, respectively.Constellation Energy (CEG) has priced an underwritten secondary offering of 11 million shares at $281 apiece, the company said Monday. Underwriters have a 30-day option to buy an extra 1.35 million shares, and Constellation said it will repurchase 2 million shares from the underwriters at the offering price under its existing buyback program. Constellation shares were down 5.8%.Salesforce (CRM) said Monday it will invest $2 billion in France through 2030, including the launch of an AI Innovation Hub in Paris for developing, testing and deploying AI applications. Salesforce shares were up 10.2%.Price: $219.23, Change: $+8.09, Percent Change: +3.83%

$BRK.A$BRK.B$CEG$CRM$DELL$HPQ$MGM$MSFT$NVDA$TMHC
Research

Research Alert: CFRA Maintains Sell Opinion On Shares Of Hp Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target by $1 to $17, 6x our FY 27 (Oct.) EPS view ($2.83), below HPQ's three-year historical average (~8x) given structural headwinds and rapid memory price increases. We raise our FY 26 EPS view by $0.08 to $2.99 and lower FY 27's by $0.15 to $2.83. Q2 results were impressive on paper, led by Personal Systems (71% of sales) growing by 10% in constant currency, up from Q1's 9% growth pace. Still, we think sales results are being boosted by unsustainable pull-in effects amid the rising price environment, and we expect HP to soon run out of lower-cost inventory that is allowing it to sustain its resilient margin performance (non-GAAP operating margin 7.5% in Q2, up 20 bps Y/Y). AI PCs should continue rising as a proportion of the PC mix (following a solid 44% contribution in Q2, +900 bps Q/Q), but we think this positive is more than offset by cost volatility that not only includes memory components but increasingly oil-based resins for the Printing business (59% of non-GAAP operating profit).

$HPQ
Wire

HP's Fiscal Q2 Better-than-Feared, but Uncertainties Remain, Morgan Stanley Says

HP's (HPQ) fiscal Q2 was better-than-feared, but several uncertainties, including the elasticity response to higher prices, remain, Morgan Stanley analysts said in a Thursday note.Analysts said the decline in personal computer unit sales is expected to accelerate in calendar Q2 and the second half of the year. They noted that PC margins are also expected to contract.Morgan Stanley said that the upcoming pricing regime is "entirely uncharted," noting that when combined with an acceleration of enterprise customer purchases in the first half of the year and consumer demand already getting softer, there is a greater risk of Personal Systems underperformance.Morgan Stanley raised HP's 2026 earnings per share estimate to $2.94 from $2.60, and its 2027 estimate to $2.65 from $2.37.Analysts retained an underweight rating on the stock, but raised its price target to $19 from $17.Price: $25.07, Change: $-0.42, Percent Change: -1.65%

$HPQ
Wire

BofA Securities Adjusts HP Price Target to $18 From $16

HP (HPQ) has an average rating of Hold and mean price target of $22.57, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $25.18, Change: $-0.33, Percent Change: -1.29%

$HPQ
Research

Research Alert: Hpq: Decent Q2, Driven By Price Increases; Fy 26 Guidance Largely Maintained

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:HP's Q2 FY 26 results exceeded consensus with revenue of $14.41B (+9% Y/Y) vs. $14.07B estimate and non-GAAP EPS of $0.86 (+21%) vs. $0.72 consensus, with operating margin of 7.5% up 20 bps. Personal Systems grew 13% driven entirely by price increases while units declined 7%, and operating margin expanded 70 bps to 5.2% despite elevated component costs. We believe AI PC momentum provides upside as shipments reached 44% of mix (up from 35% prior quarter), though we expect consumer demand destruction as prices rise with memory/CPU costs. Management maintained FY 26 guidance with non-GAAP EPS of $3.00 midpoint, down from $3.05 but improved versus prior commentary, and free cash flow of $2.9B. We see downside to estimates given component price volatility, as recent price-increase-driven growth is likely unsustainable medium-term while Printing continues structural decline with revenue down 2% despite maintaining strong 18.3% operating margins.

$HPQ
Equities Mixed Intraday as Markets Track US-Iran Peace Talks
US Markets

Equities Mixed Intraday as Markets Track US-Iran Peace Talks

US benchmark equity indexes were mixed after midday Wednesday as traders continued to monitor US-Iran peace deal negotiations.The Dow Jones Industrial Average was up 0.4% at 50,646.7 intraday, while the Nasdaq Composite fell 0.2% to 26,611.6. The S&P 500 slipped 0.1% to 7,509.8. Both the Nasdaq and the S&P 500 notched new record closing highs in the previous session.Among sectors, consumer discretionary paced the gainers, while energy and financials saw the biggest drop.Iranian state TV reportedly claimed that a draft memorandum on ending the three-month-old conflict calls for the US to withdraw its military forces and lift the blockade of Iranian ports in return for the reopening of the Strait of Hormuz within a month. However, the White House dismissed it as a "complete fabrication," CNN reported.President Donald Trump on Wednesday 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.West Texas Intermediate crude oil was down 4.4% at $89.77 a barrel intraday Wednesday, while Brent fell 4.1% to $95.54.US Treasury yields were mixed intraday Wednesday, with the 10-year rate down 1.1 basis points at 4.48% and the two-year rate little changed at 4.04%.In company news, JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Wednesday at a conference that the bank's expenses this year could be "closer" to $106 billion, or $1 billion higher than previously projected. JPMorgan shares were down 3%.Dimon also said that "there might be in the next couple of years a chance to put $10 billion or $20 billion to work buying something," referring to a potential merger and acquisition story, according to a FactSet transcript.Zscaler (ZS) shares tanked nearly 32% intraday after the cloud security company provided a fiscal fourth-quarter revenue outlook below market estimates, even though it reported better-than-expected results for the prior three-month period.PDD's (PDD) first-quarter earnings unexpectedly declined year over year, while the Chinese e-commerce platform's revenue fell short of market estimates. The stock slid nearly 12% intraday.Abercrombie & Fitch's (ANF) fiscal first-quarter earnings topped Wall Street's projections amid record sales for the apparel retailer. The company's shares jumped nearly 12% intraday.Marvell (MRVL), Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW) and HP (HPQ) were scheduled to release their quarterly results after the markets close Wednesday.Gold was down 1.4% at $4,441 per troy ounce, while silver lost 2.2% $74.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$ANF$CRM$HPQ$JPM$MRVL$PDD$SNOW$SNPS$ZS
Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists
US Markets

Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists

US equity futures were trending higher on Wednesday amid tech-driven momentum from the previous trading session, while investors continue to monitor ongoing uncertainty in the Middle East.The S&P 500 rose 0.3%, the Dow Jones Industrial Average gained 0.5% and the Nasdaq added 0.4% in premarket activity. The Nasdaq and the S&P 500 finished Tuesday trading at new record peaks, while the Dow closed lower.Shares of Micron Technology (MU) advanced 5.7% pre-bell after finishing the prior session up 19%. The semiconductor manufacturer's market capitalization crossed the $1 trillion mark for the first time on Tuesday, with UBS Securities increasing its price target on the company's stock.Marvell (MRVL) rose 6% before the bell, while Seagate (STX) and Western Digital (WDC) gained 3.6% and 3.3%, respectively.Investors are also keeping an eye out for any updates on peace talks between the US and Iran. Tehran's Islamic Revolutionary Guard Corps reportedly said Tuesday that Iran has a "legitimate" right to respond to any violation of a ceasefire by the US.Earlier in the week, 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 multiple media outlets. President Donald Trump said Monday that negotiations with Iran were "proceeding nicely.""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.West Texas Intermediate crude oil declined 4% to $90.12 a barrel before the opening bell, while Brent fell 3.2% to $96.43.Treasury yields were down in premarket action, with the two-year rate retreating 2.9 basis points to 4.02% and the 10-year rate off 2.6 basis points to 4.47%.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.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the Federal Reserve Bank of Richmond's manufacturing index for May at 10 am. The Atlanta Fed's survey of business uncertainty for this month is out at 11 am.Federal Reserve Governor Lisa Cook is scheduled to speak at 3:55 pm, while Fed Vice Chair Philip Jefferson speaks later at 8 pm.PDD (PDD), Dick's Sporting Goods (DKS), Dycom Industries (DY), Bath & Body Works (BBWI), Abercrombie & Fitch (ANF), Manchester United (MANU) and Capri (CPRI) report their latest financial results before the bell, among others. Marvell, Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW) and HP (HPQ) post their earnings after the markets close.Gold edged down 0.4% to $4,484 per troy ounce, while bitcoin was up slightly at $75,878.

Dow JonesNasdaq CompositeS&P 500$ANF$BBWI$CPRI$CRM$DKS$DY$HPQ$MANU$MRVL$MU$PDD$SNOW$SNPS$ZS
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%

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Wire

Alphabet's Google Launches Googlebook AI-Powered Laptops

Alphabet's (GOOG, GOOGL) Google said Tuesday it is introducing Googlebook, a new category of laptops built around its artificial intelligence models and Gemini Intelligence.The company said Googlebook is designed to integrate Android and ChromeOS, marking a shift toward what it describes as an "intelligence system" rather than a traditional operating system.Being part of the Android ecosystem, users will be able to access and use files from their phones directly on Googlebook laptops without requiring file transfers, the company said.Google said it is working with partners including Acer, Asus, Dell (DELL), HP (HPQ) and Lenovo to launch the first Googlebook laptops.Price: $381.74, Change: $-5.03, Percent Change: -1.30%

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