Wire
Hedge Fund TCI Slashes Microsoft Stake to 1% of Portfolio, Financial Times Reports
Hedge Fund TCI Slashes Microsoft Stake to 1% of Portfolio, Financial Times Reports
$MSFT
Microsoft
$MSFTNASDAQTechnology
436 stories mentioning MicrosoftUpdated 2d ago
Rose with tech stocks in a broad rally; its Xbox studio Compulsion Games is reportedly planning to shut down.
Wire
DBS Bank Adjusts Price Target on Microsoft to $573 From $678
Microsoft (MSFT) has an average rating of buy and mean price target of $558.68, 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: $425.28, Change: $+11.41, Percent Change: +2.76%
$MSFT
Wire
Update: Market Chatter: Microsoft Considers Shelving Clean Energy Target as Data Center Demand Rises
(Updates with an additional statement from Microsoft in the fourth paragraph.)Microsoft (MSFT) is mulling delaying or shelving its 2030 clean energy target as it attempts to remove obstacles in the race to build more data centers, Bloomberg reported Wednesday, citing people familiar with the matter.The company is still discussing the matter, and a decision has yet to be made, the report said. Microsoft targets to be carbon negative by 2030.A Microsoft spokesperson said that the company continues to look for opportunities to maintain its annual matching goal."At times, we may make adjustments to our approach toward our sustainability goals. Any adjustments we make are part of our disciplined approach-not a change in our long-term ambition," said Melanie Nakagawa, Chief Sustainability Officer at Microsoft.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $424.28, Change: $+10.41, Percent Change: +2.52%
$MSFT
Wire
Update: Market Chatter: Microsoft Considers Shelving Clean Energy Target as Data Center Demand Rises
(Updates with Microsoft's response in the third paragraph.)Microsoft (MSFT) is mulling delaying or shelving its 2030 clean energy target as it attempts to remove obstacles in the race to build more data centers, Bloomberg reported Wednesday, citing people familiar with the matter.The company is still discussing the matter, and a decision has yet to be made, the report said. Microsoft targets to be carbon negative by 2030.A Microsoft spokesperson said that the company continues to look for opportunities to maintain its annual matching goal.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $413.28, Change: $+1.93, Percent Change: +0.47%
$MSFT
Wire
Market Chatter: Microsoft Considers Shelving Clean Energy Target as Data Center Demand Rises
Microsoft (MSFT) is mulling delaying or shelving its 2030 clean energy target as it attempts to remove obstacles in the race to build more data centers, Bloomberg reported Wednesday, citing people familiar with the matter.The company is still discussing the matter, and a decision has yet to be made, the report said. Microsoft targets to be carbon negative by 2030.The company did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $412.21, Change: $+0.86, Percent Change: +0.21%
$MSFT
Wire
Wyndham Hotels & Resorts Launches Native ChatGPT App for Hotel Discovery, Booking
Wyndham Hotels & Resorts (WH) said Wednesday that it has launched a native ChatGPT app for hotel discovery and booking.The app operates within Microsoft-backed (MSFT) OpenAI's ChatGPT and allows users to explore hotels across Wyndham's global portfolio through map-based navigation, amenity filters and interactive hotel cards, the company said.Shares of Wyndham Hotels & Resorts were up 2.8% in Wednesday trading.Price: $82.70, Change: $+2.32, Percent Change: +2.88%
$MSFT$WH
Wire
ServiceNow Expands Strategic Agreements Across Multiple Partnerships
ServiceNow (NOW) said Tuesday it is significantly expanding its partnership with Nvidia (NVDA) to extend agentic artificial intelligence governance from desktops to data centers.This includes the introduction of Project Arc, a new enterprise autonomous desktop agent secured by the Nvidia OpenShell runtime, that will autonomously complete complex work for employees, according to the company.Also, ServiceNow entered an expanded multi-year strategic agreement with Lenovo to allow enterprises to cut costs, increase productivity, improve governance through AI-native workflow automation, according to a statement.ServiceNow and FedEx (FDX) are also expanding their collaboration by embedding trusted logistics intelligence from FedEx Dataworks directly into existing ServiceNow Source-to-Pay journeys, as well as building net-new supply chain management workflows, the company added.Additionally, ServiceNow announced an expansion of its strategic partnership with Microsoft (MSFT) for a deepened product integration between ServiceNow AI Control Tower and Microsoft Agent 365.Price: $91.54, Change: $-0.43, Percent Change: -0.47%
$FDX$MSFT$NOW$NVDA
Wire
Top Midday Stories: PayPal Q2 EPS Guide Undershoots Expectations, Plans 20% Workforce Cut; Palantir Shares Fall Despite Strong Earnings, Guidance
All three major US stock indexes were up in late-morning trading Tuesday, as oil prices slid despite new attacks in the Strait of Hormuz.In company news, PayPal (PYPL) reported Q1 non-GAAP earnings Tuesday of $1.34 per diluted share, up from $1.33 a year earlier and above the FactSet consensus estimate of $1.27. Net Q1 revenue was $8.35 billion, up from $7.79 billion a year ago and above the FactSet consensus of $8.05 billion. For Q2, the company said it expects to post a roughly 9% decline in non-GAAP EPS from $1.40 a year earlier to about $1.27. Analysts polled by FactSet expect $1.34. Additionally, PayPal is planning to cut around 20% of its workforce over the next two to three years, Bloomberg reported Tuesday, citing a person familiar with the matter. PayPal shares were down 8.1% around midday.Palantir Technologies (PLTR) reported Q1 adjusted earnings late Monday of $0.33 per diluted share, up from $0.13 a year earlier and above the FactSet consensus of $0.28. First-quarter revenue was $1.63 billion, up from $883.9 million a year ago and above the FactSet consensus of $1.54 billion. For Q2, Palantir said it expects revenue of $1.797 billion to $1.801 billion, above the FactSet consensus of $1.68 billion. For full-year 2026, the company said it expects revenue of $7.65 billion to $7.66 billion, above the FactSet consensus of $7.24 billion. Palantir shares were down 6.3%.Alphabet (GOOG, GOOGL) will raise at least 9 billion euros ($10.5 billion) from its biggest ever euro-denominated bond sale, Bloomberg reported Tuesday, citing a person familiar with the matter. Separately, Alphabet's Google DeepMind, Microsoft (MSFT) and xAI signed new agreements with the Center for AI Standards and Innovation to assess AI security issues before they are released, CAISI said Tuesday. Alphabet's Class C shares were up 1.4%, while its Class A shares were up 1.5%. Microsoft shares were down 0.8%.Apple (AAPL) has held early talks with Intel (INTC) and Samsung Electronics on producing key device processors in the US, Bloomberg reported Tuesday, citing people familiar with the matter. Apple shares were up 1.1%, and Intel shares were up 13.8%.Shopify (SHOP) reported a Q1 loss Tuesday of $0.45 per diluted share, narrowing from a loss of $0.53 a year earlier. Analysts surveyed by FactSet expected earnings of $0.24. First-quarter revenue was $3.17 billion, up from $2.36 billion a year ago and above the FactSet consensus of $3.11 billion. Shopify shares were down 11%.Pfizer (PFE) reported Q1 adjusted earnings Tuesday of $0.75 per diluted share, down from $0.92 a year earlier but above the FactSet consensus of $0.72. First-quarter revenue was $14.45 billion, up from $13.72 billion a year ago and above the FactSet consensus of $13.84 billion. The company reaffirmed its full-year 2026 EPS and revenue guidance ranges of $2.80 to $3.00 and $59.5 billion to $62.5 billion, respectively. Analysts polled by FactSet expect $2.96 and $61.38 billion, respectively. Pfizer shares were down 0.7%.Price: $46.33, Change: $-4.06, Percent Change: -8.06%
$AAPL$GOOG$GOOGL$INTC$MSFT$PFE$PLTR$PYPL$SHOP
Wire
Google DeepMind, Microsoft, xAI Sign AI Security Agreements With CAISI
Alphabet's (GOOG, GOOGL) Google DeepMind, Microsoft (MSFT), and Tesla (TSLA) Chief Executive Elon Musk's xAI signed new agreements with the Center for AI Standards and Innovation to assess artificial intelligence security issues before they are released, CAISI said Tuesday.The expanded collaborations allow the government to test the models before public release to improve security and establish best practices, the center said.The organization has completed more than 40 software assessments to date and frequently receives unrestricted versions of the programs to thoroughly investigate potential national security risks, according to a statement.The partnerships support information sharing and classified environment testing while remaining flexible enough to adapt to rapid technological advancements, CAISI said.These expanded industry collaborations will help the CAISI scale its work in the public interest at critical moments, CAISI Director Chris Fall said.Price: $383.25, Change: $+3.61, Percent Change: +0.95%
$GOOG$GOOGL$MSFT$TSLA
Sectors
Sector Update: Tech Stocks Mixed Late Afternoon
Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.1%.The Philadelphia Semiconductor index decreased 0.2%.In corporate news, Apple (AAPL) is planning to introduce a new feature for its next iPhone software update that will allow users to develop and personalize their own digital tickets and gift cards in the Wallet app, Bloomberg reported. The pass-building feature for iOS 27 Wallet is expected to address the issue of many services still not offering passes compatible with the Wallet platform, the report said. Apple shares were down 1.3%.Microsoft-backed (MSFT) OpenAI has secured more than $4 billion from investors for a new joint venture valued at $10 billion to expand adoption of its AI products, Bloomberg reported. Microsoft shares shed 0.5%.Cisco Systems (CSCO) shares rose 0.8% after the company said Monday it plans to buy Astrix Security to broaden its automated agent and non-human identity defense capabilities.Blaize (BZAI) said it signed a strategic partnership agreement with Winmate to integrate its AI chips into systems for defense and critical infrastructure, targeting about $15 million in first-year business. Blaize shares surged 20%.
$AAPL$BZAI$CSCO$MSFT
Sectors
Sector Update: Tech Stocks Edge Higher Monday Afternoon
Tech stocks edged up Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) marginally up.The Philadelphia Semiconductor index decreased 0.5%.In sector news, Cerebras Systems plans to kick off the roadshow for its proposed initial public offering as the AI chipmaker targets raising up to a little over $4 billion.In corporate news, Microsoft-backed (MSFT) OpenAI has secured more than $4 billion from investors for a new joint venture valued at $10 billion to expand adoption of its AI products, Bloomberg reported. Microsoft shares rose 0.1%.Cisco Systems (CSCO) shares rose 1% after the company said Monday it plans to buy Astrix Security to broaden its automated agent and non-human identity defense capabilities.Blaize (BZAI) said it signed a strategic partnership agreement with Winmate to integrate its AI chips into systems for defense and critical infrastructure, targeting about $15 million in first-year business. Blaize shares surged past 27%.
$BZAI$CSCO$MSFT
Sectors
Sector Update: Tech
Tech stocks were mixed Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally higher and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.2%.The Philadelphia Semiconductor index shed 0.7%.In corporate news, Microsoft-backed (MSFT) OpenAI has secured more than $4 billion from investors for a new joint venture valued at $10 billion to expand adoption of its AI products, Bloomberg reported. Microsoft shares decreased 0.1%.
$MSFT
US Markets
AI Chipmaker Cerebras Targets Raising Up To $4 billion in IPO
Cerebras Systems plans to kick off the roadshow for its proposed initial public offering as the artificial intelligence chipmaker targets raising up to a little over $4 billion.The company is looking to offer 28 million class A common shares at between $115 and $125 per share, according to a preliminary prospectus filed with the Securities and Exchange Commission on Monday. The underwriters will have a 30-day option to purchase up to an additional 4.2 million class A shares.The aggregate share count yields about $4.03 billion, based on the top end of the expected price range' calculations showed.Cerebras has applied to list its class A shares on the Nasdaq Global Select Market under the symbol "CBRS," according to the filing.The company in October 2025 dropped its plans to go public, shortly after it raised $1.1 billion in a funding round at $8.1 billion post-money valuation.Cerebras, which competes with companies including Nvidia (NVDA) and Advanced Micro Devices (AMD) in the hardware category, reported 2025 net income of $1.38 per share on revenue of $510 million. That compares with a loss of $9.90 per share and revenue of $290.3 million in 2024.It also competes with cloud service providers such as Amazon (AMZN) Web Services and Microsoft's (MSFT) Azure, according to the filing.In April, the company said it had raised $2.85 billion in capital over a period of eight months, including a new credit facility for up to $850 million.Price: $196.70, Change: $-1.76, Percent Change: -0.88%
$AMD$AMZN$MSFT$NVDA
Wire
Market Chatter: OpenAI Forms $10 Billion AI Deployment Venture With Private Equity Backing
Microsoft (MSFT)-backed OpenAI has secured more than $4 billion from investors for a new joint venture valued at $10 billion to expand adoption of its artificial intelligence products, Bloomberg News reported Monday, citing a person with knowledge of the matter.The venture, dubbed The Deployment Company, is backed by 19 investors, including TPG (TPG), Brookfield Asset Management (BAM), and Bain Capital, the source reportedly said.OpenAI will retain majority ownership and control, according to the report.The initiative is intended to use investor networks, which include more than 2,000 portfolio companies and clients, to accelerate enterprise uptake of OpenAI's technology, Bloomberg quoted the source as saying.The development comes as OpenAI and Anthropic compete to grow enterprise sales of AI software ahead of potential public listings, Bloomberg reported.OpenAI, TPG, Brookfield and Bain did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $416.49, Change: $+2.30, Percent Change: +0.55%
$BAM$MSFT$TPG
US Markets
Nasdaq, S&P 500 Log Record Finish, Extend Streak of Weekly Gains
The Nasdaq Composite and the S&P 500 reached new peaks on Friday, scoring their fifth consecutive weekly gains.The Nasdaq Composite rose 0.9% to 25,114.4, while the S&P 500 advanced 0.3% to 7,230.1, both notching record closing highs. The Dow Jones Industrial Average lost 0.3% to 49,499.3. Barring technology and consumer discretionary, all sectors ended in the red, led by energy.This week, the Nasdaq gained 1.1%, while the S&P 500 added 0.9%, their fifth weekly rise in a row. The Dow is up 0.6% after last week's 0.4% loss.Apple (AAPL) shares jumped 3.2% on Friday, the second-biggest gainer on the Dow. Late Thursday, the tech giant logged fiscal second-quarter results above Wall Street's estimates as iPhone revenue came in stronger than expected.Apple's fiscal third-quarter revenue guidance was well above the Street's estimates despite supply constraints for Mac models that will likely continue for several months, Wedbush Securities said in a note.Several other tech names advanced, with Oracle (ORCL) up 6.5%, among the top gainers on the S&P 500, while Salesforce (CRM) climbed 4.1%, the best performer on the Dow. Shares of Intel (INTC), Microsoft (MSFT) and Amazon.com (AMZN) also rose.In other company news, Exxon Mobil (XOM) and Chevron (CVX) reported year-over-year declines in their first-quarter earnings amid supply disruptions due to the Middle East war, though the figures came in ahead of the Street's estimates. Exxon shares fell 1%, while Chevron lost 1.4%.West Texas Intermediate crude oil was down 2.7% at $102.20 per barrel in Friday late-afternoon trade, while Brent dropped 1.7% to $108.57. Both benchmarks, however, were on track for their second consecutive weekly advance."Brent crude remains elevated after touching a fresh wartime high late in April, supported by worsening physical tightness and rising concern about outright shortages in some regions," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report. "The near closure of the Strait of Hormuz continues to prolong a disruption that is steadily tightening global energy markets, with flows through one of the world's most important oil arteries still severely restricted."US President Donald Trump said he is displeased with a new peace offer from Iran, CNBC reported Friday.Israel struck the Habbouch town in southern Lebanon, CNN reported, citing Lebanon's health ministry.US Treasury yields were mixed, with the 10-year rate up 1.3 basis points at 4.39% and the two-year rate little changed at 3.88%.In economic news, the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict, separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed.Three Federal Reserve officials who wanted language changes in the April monetary policy statement said Friday that risks to inflation and employment didn't warrant an inclusion of the so-called easing bias.On Wednesday, regional presidents Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas supported the Fed's decision to keep its benchmark lending rate steady, but opposed including an easing bias in the Federal Open Market Committee statement.Gold was down 0.1% at $4,623.30 per troy ounce, while silver climbed 2.6% to $75.95 per ounce.
Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CRM$CVX$INTC$MSFT$ORCL$SPGI$XOM
Asia Markets
US Equity Indexes Scale New Peaks This Week Amid Lift From Mega-Cap Earnings, Crude Oil
US equity indexes jumped this week as communications services and energy topped sector charts in a broad-based rally, reflecting the positive impact of mega-cap earnings and crude oil.* The S&P 500 closed at 7,230.12 on Friday versus 7,153.06 a week ago. The Nasdaq Composite stood at about 25,114.44, compared with 24,774.11 a week earlier. The Dow Jones Industrial Average ended at 49,499.27, versus 49,153.47 at the end of last week.* All but one sector, basic materials, rose this week. The top five sectors included financials, consumer defensive, and real estate, which shows a broadening of leadership to value-oriented areas.* Three Magnificent-7 stocks ended the week lower -- Meta Platforms (META), Nvidia (NVDA), and Microsoft (MSFT), according to data compiled by Finviz. Of the remaining four mega-caps, Alphabet (GOOG, GOOGL) led the pack with a gain of almost 12%. Except for Nvidia, all Mag-7 companies have so far reported quarterly results, with four of the six firms trading higher this week.* Among companies with a market capitalization of more than $200 billion, the top gainer was Intel (INTC), whose strong quarterly results translated into a weekly gain of almost 21%.* Brent crude oil futures soared to a four-year high this week before retreating, and West Texas Intermediate futures remained above the psychologically important $100 mark.* On Friday, Iran handed Washington a new proposal for ending the war, offering hints of compromise, The Wall Street Journal reported. The two sides remain far apart, however, on substantive issues of reopening the Strait of Hormuz and Iran's nuclear program, people familiar with the matter told the WSJ.* "They want to make a deal but I'm not satisfied with it," Trump told reporters at the White House Friday, according to Bloomberg. "We just had a conversation with Iran. Let's see what happens. But I would say that I am not happy."
Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$META$MSFT$NVDA
US Markets
Equity Markets Mostly Rise Intraday as Apple Helps Lift Tech
US benchmark equity indexes were mostly higher intraday as a post-earnings rally in Apple (AAPL) shares helped lift the technology sector, while oil prices fell.The Nasdaq Composite was up 1.2% at 25,183.1 after midday Friday, while the S&P 500 rose 0.6% to 7,252.5. Both benchmarks hit new closing highs in the previous session. The Dow Jones Industrial Average was little changed at 49,661.6 intraday Friday.Among sectors, tech paced the gainers with a 1.7% jump, while energy saw the biggest drop.Apple shares were up 4%, the best performer on the Dow. Late Thursday, the tech giant logged fiscal second-quarter results above Wall Street's estimates as iPhone revenue came in stronger than expected.Apple's fiscal third-quarter revenue guidance was well above the Street's estimates despite supply constraints for Mac models that will likely continue for several months, Wedbush Securities said in a note.Several other big tech names were also advancing intraday, with Oracle (ORCL) up 7.4%, among the biggest gainers on the S&P 500. Shares of Intel (INTC), Salesforce (CRM), Microsoft (MSFT), Amazon.com (AMZN), Cisco Systems (CSCO), and IBM (IBM) were also higher.In other company news, Exxon Mobil (XOM) and Chevron (CVX) reported year-over-year declines in their first-quarter earnings amid supply disruptions due to the Middle East war, though the figures came in ahead of the Street's estimates. Exxon shares were down 1.2% intraday, while Chevron lost 1.5%, the second-worst performer on the Dow.West Texas Intermediate crude oil fell 3.1% to $101.82 per barrel, while Brent crude was down 2.1% at $108.04.US President Donald Trump said he is displeased with a new peace offer from Iran, noting that Tehran "wants to make a deal, but I'm not satisfied with it," CNBC reported Friday.Israeli strikes against the Habbouch town in southern Lebanon have killed six people, CNN reported, citing Lebanon's health ministry.US Treasury yields were lower intraday, with the 10-year rate down 1.4 basis points at 4.38% and the two-year rate losing one basis point to 3.88%.In economic news, the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict, separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed."The prices-paid index's steep climb to multiyear highs -- alongside the conspicuous slowdown in supplier deliveries -- signals mounting supply-chain stress and inflationary pressures driven by surging energy prices and war-related disruptions," TD Economics said in a note. "These resurgent price pressures are keeping the Federal Reserve on alert, supporting expectations that any additional monetary policy easing is unlikely in the near term."Three Fed officials who wanted language changes in the April monetary policy statement said Friday that risks to inflation and employment didn't warrant an inclusion of the so-called easing bias.On Wednesday, regional presidents Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas supported the Fed's decision to keep its benchmark lending rate steady, but opposed including an easing bias in the Federal Open Market Committee statement.Gold rose 0.4% to $4,647 per troy ounce, while silver climbed 3% to $76.23 per ounce.
Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CRM$CSCO$CVX$IBM$INTC$MSFT$ORCL$SPGI$XOM
Commodities
Chevron Tops Q1 Earnings Estimates on Strong Production, Refining Results, TPH Says
Chevron (CVX) reported stronger-than-expected Q1 earnings, driven by solid performance in both its oil production and refining businesses, alongside disciplined spending and higher cash returns to shareholders, TPH Energy Research analyst Jeoffrey Lambujon said in a Friday note.The company posted adjusted earnings of $1.41 per share, well above analyst expectations of $0.87 to $0.92.The upstream segment, which covers oil and gas production, delivered $4.14 billion in adjusted earnings, beating forecasts and accounting for over half of the overall earnings surprise. Results were led by international operations.Production totaled 3.86 million barrels of oil equivalent per day, broadly in line with expectations.Downstream operations, which include refining and fuels, posted a smaller loss of $470 million, also better than expected, helped by stronger US refining results. That segment accounted for roughly 40% of the total earnings beat.Capital spending came in at $4.06 billion, below analyst estimates, reflecting tighter project execution and cost control. Operating cash flow before working capital changes was $7.14 billion, slightly below some forecasts but supported by a $1 billion inflow from equity affiliate loan activity tied to the Tengizchevroil project, a joint venture project at Kazakhstan's Tengiz oil field.After adjustments, free cash flow totaled $4.13 billion for the quarter.The company returned $6.0 billion to shareholders during the period, including $2.5 billion in share buybacks and about $3.5 billion in dividends. The dividend policy remains unchanged at $1.78 per share following a roughly 4% increase announced earlier this year.Chevron kept its full-year 2026 guidance steady, with capital spending expected between $18 billion and $19 billion and production forecast at 3.98 to 4.10 million barrels of oil equivalent per day. Management said cost-reduction efforts remain on track.Looking ahead, the company highlighted continued operational momentum into the second quarter, supported by high utilization across key assets, including projects in Australia LNG, the Eastern Mediterranean, and Kazakhstan.Chevron also pointed to progress in heavy oil operations in Venezuela and a recently expanded agreement related to power infrastructure development with Microsoft (MSFT).Price: $190.69, Change: $-2.63, Percent Change: -1.36%
$CVX$MSFT
Wire
Top Midday Stories: Apple Tops Fiscal Q2 EPS, Revenue Estimates, Raises Dividend; Pentagon Strikes Deals With 7 AI Companies
All three major US stock indexes were up in late-morning trading Friday, as The Street looks to close out a tumultuous week of trading on a high note.In company news, Apple (AAPL) reported fiscal Q2 earnings late Thursday of $2.01 per diluted share, up from $1.65 a year earlier and above the FactSet consensus of $1.95. Fiscal Q2 revenue was $111.18 billion, up from $95.36 billion a year ago and above the FactSet consensus of $109.46 billion. Apple's board raised its quarterly dividend by a cent to $0.27 per share, payable May 14 to stockholders of record as of May 11. The board also authorized an additional program to repurchase up to $100 billion of common shares. Apple shares were up 4.5% around midday.The US Department of Defense said Friday it has entered into agreements with seven of the largest artificial intelligence companies to deploy their AI capabilities on its classified networks. The Pentagon said it reached deals with Alphabet's (GOOG, GOOGL) Google, Nvidia (NVDA), Microsoft (MSFT), Amazon's (AMZN) Amazon Web Services, SpaceX, OpenAI and Reflection. Alphabet's Class C and Class A shares were down 0.1% and up 0.1%, respectively. Shares of Nvidia, Microsoft and Amazon were down 0.3%, up 1.7% and up 1.7%, respectively.Exxon Mobil (XOM) reported Q1 adjusted earnings Friday of $1.16 per diluted share, down from $1.76 a year earlier but above the FactSet consensus of $0.98. First-quarter revenue and other income was $85.14 billion, up from $83.13 billion a year ago and above the FactSet consensus estimate of $81.13 billion. Exxon Mobil shares were down 0.8%.Chevron (CVX) reported Q1 adjusted earnings Friday of $1.41 per diluted share, down from $2.18 a year earlier but above the FactSet consensus of $0.97. First-quarter revenue and other income was $48.61 billion, up from $47.61 billion a year ago but below the FactSet consensus of $51.86 billion. Chevron shares were down 1.2%.SanDisk (SNDK) reported fiscal Q3 adjusted earnings late Thursday of $23.41 per diluted share, up from a loss of $0.30 a year earlier and above the FactSet consensus of $14.62. Fiscal Q3 revenue was $5.95 billion, up from $1.70 billion a year ago and above the FactSet consensus of $4.72 billion. For fiscal Q4, the company said it expects adjusted EPS of $30 to $33 on revenue of $7.75 billion to $8.25 billion. Analysts polled by FactSet expect $23.38 and $6.62 billion, respectively. SanDisk shares were down 0.5%.Price: $284.89, Change: $+13.54, Percent Change: +4.99%
$AAPL$AMZN$CVX$GOOG$GOOGL$MSFT$NVDA$SNDK$XOM
US Markets
S&P 500, Nasdaq Notch New Peaks, Log Best Month Since 2020
The S&P 500 and the Nasdaq Composite hit new closing highs on Thursday, with the two equity indexes recording their biggest monthly gains since 2020.The S&P 500 rose 1% to 7,209, while the Nasdaq climbed 0.9% to 24,892.3, both logging record closing highs. The Dow Jones Industrial Average jumped 1.6% to 49,652.1. Barring technology, all sectors were in the green, led by communication services' 4% jump.This month, the Nasdaq jumped 15.3%, logging its best monthly performance since April 2020. The S&P 500 gained 10.4%, the biggest monthly gain since November 2020. The Dow climbed 7.1%.In company news, Alphabet's (GOOG, GOOGL) first-quarter results exceeded Wall Street's estimates late Wednesday as revenue for Google's cloud and services businesses climbed. Alphabet increased its 2026 capital expenditure guidance to up to $190 billion. Shares climbed 10%.Caterpillar (CAT) surged 9.9%, the best performer on the Dow. The heavy equipment manufacturer raised its full-year sales outlook as its first-quarter results exceeded market expectations.Eli Lilly (LLY) lifted its full-year outlook, while the drugmaker reported first-quarter results above market estimates. The stock advanced 9.8%.Meta Platforms (META) shares plunged 8.6%, among the steepest declines on the S&P 500. The Facebook parent late Wednesday raised its full-year capital expenditure guidance mainly due to higher component pricing.Microsoft (MSFT) shares declined 3.9%, the second-worst performer on the Dow, as the tech giant said late Wednesday its capital expenditure will be about $190 billion in 2026. The company's aggressive capital expenditure will likely keep free cash flow under pressure in the near term, Truist Securities said in a note.Brent crude fell 3.3% at $114.09 per barrel, having topped $126 earlier in the day. West Texas Intermediate fell 1.8% to $105.01.On Wednesday, the Federal Reserve kept its benchmark lending rate steady, saying the Iran war is fueling uncertainty around the US economic outlook.The most recent policy statement had an implied easing bias, but that could soon be removed amid a growing divide among policymakers over the direction of interest rates, Stifel said in a note Thursday.US Treasury yields were lower, with the 10-year rate down 2.4 basis points at 4.41% and the two-year rate falling 7.8 basis points to 3.89%.US economic growth fell short of Wall Street's expectations in the first quarter as spending slowed amid inflationary pressures that economists said will likely keep consumers under pressure."The core of the economy remained solid in (the first quarter), driven by the (artificial intelligence) buildout and the tax cuts beginning to feed through," Oxford Economics Chief US Economist Michael Pearce said in remarks emailed to. "Those factors will continue to drive growth over the rest of the year, but the jump in energy prices will take some of the shine off what would otherwise have been a strong year for the economy."Separate official data showed that US inflation, as measured by the personal consumption expenditure price index, accelerated in March to the fastest pace since mid-2022 as the Middle East conflict sent energy prices soaring."Inflationary pressures continued to percolate," Ksenia Bushmeneva, economist at TD Economics, said in a report. "The situation around the energy crisis remains uncertain and gas prices are likely to remain elevated for some time."Gold rose 1.6% at $4,635 per troy ounce, while silver advanced 2.9% to $74.18 per ounce.
Dow JonesNasdaq CompositeS&P 500$CAT$GOOG$GOOGL$LLY$META$MSFT
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