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Sectors

Sector Update: Tech Stocks Fall Tuesday Afternoon

Tech stocks fell Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) dropping 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) slumping 4.5%.The Philadelphia Semiconductor index shed 3.7%.In corporate news, OpenAI recently missed its own targets for new users and revenue, the Wall Street Journal reported late Monday, citing people familiar with the matter. Tech bellwether Nvidia (NVDA) fell 2.2%, Broadcom (AVGO) dropped 4.7%, Advanced Micro Devices (AMD) shed 2.7%, Oracle (ORCL) lost 3.8%, and Intel (INTC) declined 1.7%.Lam Research (LRCX), Applied Materials (AMAT) and KLA (KLAC) were among the chip equipment companies believed to have received a letter last week from the US Department of Commerce ordering them to halt certain tool shipments to China's second-largest chipmaker Hua Hong, Reuters reported. Lam declined 3.5%, Applied Materials dropped 5.5%, and KLA shed 3.5%.Spotify Technology (SPOT) reported stronger-than-expected Q1 profit, but its premium subscriber growth and outlook disappointed investors. The stock fell 13%.

$AMAT$AMD$AVGO$INTC$KLAC$LRCX$NVDA$ORCL$SPOT
US Markets

Equities Mostly Lower Intraday as OpenAI Report Sparks Tech Sell-Off

US benchmark equity indexes were mostly lower intraday, with technology stocks under pressure following a report that OpenAI missed its sales target, while oil prices rose.The Nasdaq Composite was down 1.3% at 24,575.3 after midday Tuesday, while the S&P 500 shed 0.7% to 7,127. The Dow Jones Industrial Average rose 0.2% to 49,268.9. Among sectors, technology saw the steepest decline, shedding 1.9%, while energy paced the gainers.Tech bellwether Nvidia (NVDA) was down 3% intraday, the worst performer on the Dow. Broadcom (AVGO), Advanced Micro Devices (AMD), Oracle (ORCL), and Intel (INTC) also declined. Microsoft (MSFT), however, was up 0.7%.OpenAI recently missed its own targets for new users and revenue, The Wall Street Journal reported, citing unnamed sources."The WSJ in part frames this story as a concern for datacenter spend, with OpenAI having over invested while sales are slowing," Wedbush Securities analyst Matt Bryson said in a note e-mailed to. "We believe infrastructure demand remains robust, driven in large part by (artificial intelligence) usage growth, creating a broad based demand driver for semiconductor and component vendors."In other company news, Coca-Cola (KO) lifted its full-year earnings growth outlook on Tuesday as the beverages giant posted fiscal first-quarter results above market expectations amid pricing and volume gains. The stock was up 6.3% intraday, the best performer on the Dow and the second-biggest gainer on the S&P 500.Spotify Technology (SPOT) shares were down 13% after the audio-streaming platform's premium subscriber growth and outlook disappointed investors.West Texas Intermediate crude was up 3.6% at $99.84 per barrel, while Brent crude climbed 2.8% to $111.34.US President Donald Trump and national security officials are skeptical of Iran's new offer to open the Strait of Hormuz and delay talks on uranium enrichment, The Journal reported, citing American officials.Elsewhere in the world, the United Arab Emirates has decided to leave the Organization of the Petroleum Exporting Countries on Friday, in a move that Rystad Energy said makes the cartel "structurally weaker."The UAE is one of the few OPEC members, including Saudi Arabia, that have spare capacity, Rystad said in a note. OPEC uses a production quota system to stabilize global oil markets."Its departure therefore removes one of the core pillars underpinning OPEC's ability to manage the market," Rystad Head of Geopolitical Analysis Jorge Leon wrote.The Fed's monetary policy committee kicked off its two-day meeting on interest rates, with a decision due Wednesday. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting, according to the CME FedWatch tool.US Treasury yields were higher intraday, with the 10-year rate up 1.8 basis points at 4.36% and the two-year rate rising 4.1 basis points to 3.84%.Gold was down 2.1% at $4,593.10 per troy ounce, while silver lost 2.8% to $72.95 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AVGO$INTC$KO$MSFT$NVDA$ORCL$SPOT
Wire

Oracle Set to Outperform Despite OpenAI Concerns Weighing on Tech Sector, Wedbush Says

Oracle (ORCL) is set to outperform despite a report about OpenAI weighing on the tech sector, Wedbush said in a note Tuesday.Oracle's significant backlog, including a $300 million cloud contract with OpenAI over the next five years, is expected to generate about $30 billion in revenue, analysts wrote.Oracle is capable of completing its $50 billion capital raise, and the pullback in shares represent a buying opportunity with OpenAI set to go public by year-end, the brokerage said.Concerns around OpenAI after it reportedly missed revenue and user targets are overblown, with the company having adequate capital to fulfill its compute capacity needs over at least the next three years, improving the odds of Oracle fulfilling its backlog in the near-term, according to the note.Wedbush reiterated its outperform rating on the stock and price target of $225 per share.Shares of Oracle were down more than 4% in Tuesday trading.Price: $165.77, Change: $-7.19, Percent Change: -4.16%

$ORCL
Research

Research Alert: Openai Internal Target Miss Worrisome For The Ai Ecosystem

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:According to a WSJ report, OpenAI missed internal targets for ChatGPT users (failed to reach 1B weekly active users by year-end) and revenue as Google's Gemini gained market share while losing ground to Anthropic in the coding and enterprise markets. The company faces elevated cash burn, while the tension between growth ambitions and financial discipline will be critical to watch. CFO Sarah Friar expressed concerns about meeting future computing contracts if revenue growth doesn't accelerate and reservations about CEO Sam Altman's aggressive IPO timeline by year-end, emphasizing need for improved internal controls first. We believe the companies most at risk should revenue ambitions fall short are ORCL/neoclouds, chipmakers, and hyperscalers (MSFT, AMZN). Any major IPO delay could negatively impact AI infrastructure companies, though we note AI growth is fueled by multiple players beyond OpenAI. SaaS providers could positively react on the news given recent competitive concerns from OpenAI/Anthropic.

$ORCL
Asia Markets

US Equity Futures Mostly Lower Pre-Bell Amid Continued Middle East Standoff, AI Spending Concerns

US equity futures were mostly lower pre-bell Tuesday as the US-Iran standoff continues with no end in sight, while concerns about heavy spending on data centers were brought into focus amid reports of OpenAI's missed targets.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.4% lower.President Donald Trump was unhappy with Iran's latest proposal to end the Middle East conflict, Reuters reported, citing a US official. Iran had proposed to reopen the Strait of Hormuz by deferring nuclear talks to a later date, while Trump wants nuclear issues dealt with from the outset.Microsoft-backed (MSFT) OpenAI recently missed internal targets for new users and revenue, raising concerns among company leaders about being able to support its massive spending on data centers, according to a Wall Street Journal report that cited sources familiar with the matter.Traders digested the latest round of earnings. Coca-Cola (KO) reported higher Q1 adjusted earnings and revenue, while Novartis (NVS) posted a decline in Q1 core earnings and net sales.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $104.21 per barrel and US West Texas Intermediate crude 3.6% higher at $99.84 per barrel.The February S&P Case-Shiller home price index, scheduled for release at 9 am ET, is expected to show a 0.2% gain following a similar increase in the preceding month, according to estimates compiled by Bloomberg.The April consumer confidence index, due at 10 am ET, is projected to fall to 89.0 from 91.8.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Microsoft, which is OpenAI's biggest investor, and Oracle (ORCL), which relies on the ChatGPT creator for its cloud computing plans, saw their shares decline 1.3% and 7.6%, respectively. Novartis stock was down 1.4% after the company released its Q1 financial results.On the winning side, Eni (E) stock was up 2.7% after the European energy firm and Repsol said they are planning to boost output at Venezuela's Cardon IV offshore gas field, according to a Reuters report. Bed Bath & Beyond (BBBY) shares were up 29% after the company reported a narrower Q1 adjusted loss and higher revenue. Coca-Cola stock was up 3% after the company published its Q1 financial results.

Dow JonesNasdaq CompositeS&P 500$BBBY$E$KO$MSFT$NVS$ORCL
US Markets

Stocks Mostly Down Pre-Bell as Traders Monitor Developments on US-Iran Negotiations; Fed Policy Meeting on Deck

US equity futures were mostly pointing lower on Tuesday as traders monitor developments on negotiations between the US and Iran and await the Federal Reserve's latest decision on interest rates, along with a fresh round of corporate earnings.The S&P 500 decreased 0.2% and the Nasdaq declined 0.6%, while the Dow Jones Industrial Average inclined 0.3% in premarket activity. The Nasdaq and S&P 500 finished Monday trading with new closing highs for a second consecutive session, while the Dow ended in the red.White House Press Secretary Karoline Leavitt reportedly said Monday that President Donald Trump reviewed a new proposal from Iran to reopen the crucial Strait of Hormuz with national security officials, according to Bloomberg News. Trump has made his "red lines" extremely clear with respect to Iran and will address the matter "very soon," Leavitt said.Tehran recently submitted a proposal to reopen the Strait of Hormuz and delay talks on uranium enrichment, Axios reported, citing a US official and two other sources.West Texas Intermediate crude oil rose 3.5% to $99.73 a barrel before the opening bell, while Brent gained 2.8% to $111.28.The Fed's monetary policy committee is set to kick off its meeting on interest rates today, with a decision due tomorrow. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting, according to the CME FedWatch tool.With the Federal Open Market Committee's decision unlikely to surprise, the market is expected to focus on the policy statement and post-meeting remarks of Chair Jerome Powell, said David Doyle, head of economics at Macquarie Group."Given that elevated oil prices have persisted for nearly two months now, future guidance may shift somewhat," he said in a Monday report e-mailed to. "This would be in contrast to March where there were limited changes made. Our view remains that the next policy move is likely to be a hike with the most likely timing in (the first half of 2027)."Treasury yields were trending upwards in premarket action, with the two-year rate advancing 1.9 basis points to 3.82% and the 10-year rate adding 1.8 basis points to 4.35%.Coca-Cola (KO), S&P Global (SPGI), Spotify Technology (SPOT), United Parcel Service (UPS), Sherwin-Williams (SHW), Hilton Worldwide (HLT) and General Motors (GM) are scheduled to release their latest financial results before the bell, among others. Visa (V), T-Mobile US (TMUS) and Starbucks (SBUX) post earnings after the markets close.Shares of Snap (SNAP) nudged down 0.2% pre-bell after the social media company finished the previous session with a 7.3% jump. Cadence Design Systems (CDNS) moved 0.4% lower as the computational software company announced its latest quarterly results. Oracle (ORCL) fell 5.5%.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for February, at 9 am ET. The consumer confidence report for April is out at 10 am, along with the Richmond Fed manufacturing index for the same month.Gold dropped 1.4% to $4,626 per troy ounce, while bitcoin ticked down 0.2% to $76,604.

Dow JonesNasdaq CompositeS&P 500$CDNS$GM$HLT$KO$ORCL$SBUX$SHW$SNAP$SPGI$SPOT$TMUS$UPS$V
Wire

Oracle Positioned as AI Revolution's 'Foundational Infrastructure Provider,' Wedbush Says

Oracle (ORCL) is positioned to become a "foundational infrastructure provider" for the artificial intelligence revolution, supported by its infrastructure and data integration strategy, Wedbush Securities said in a Friday note.Oracle Cloud Infrastructure offers a "distinct advantage" over other complex cloud platforms, while the company's "AI for Data" strategy is intended to deliver business value by bridging AI models with proprietary enterprise data, the investment firm said.Wedbush also noted Oracle's multi-cloud strategy, partnerships with AI leaders, and initiatives such as the Stargate project.Wedbush initiated coverage on Oracle with an outperform rating and a $225 price target.Price: $172.07, Change: $-4.21, Percent Change: -2.39%

$ORCL
Research

Wedbush Initiates Coverage on Oracle With Outperform Rating, $225 Price Target

Oracle (ORCL) has an average rating of overweight and mean price target of $242.56, 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)

$ORCL
US Markets

Oracle On Path to Become 'Foundational' AI Infrastructure Provider, CapEx Concerns Misread, Wedbush Says

Oracle (ORCL) is on track to become a "foundational" infrastructure provider for the artificial intelligence revolution, with investors misreading the risks tied to its capital spending, Wedbush Securities said in a Friday client note.The brokerage initiated its coverage on the cloud computing company with an outperform rating on the stock and a 12-month price target of $225. Shares of the firm were up 1.6% in the most recent premarket activity, having lost 9.6% so far this year.Wedbush believes Oracle is in the early stages of a backlog-driven AI expansion, with its cloud infrastructure service having a key advantage over complex legacy cloud platforms. The company's strategy to integrate proprietary enterprise data with strong AI models is also creating real-world business value, according to the brokerage."We believe Oracle is in the early innings of a significant repositioning as it executes on this generational opportunity," Wedbush analysts, including Dan Ives, wrote in the note. "The vision is supported by partnerships with AI leaders like OpenAI and Nvidia (NVDA), and endeavors like the Stargate project."The downside case on Oracle centers on its capital expenditures and negative free cash flow, but this view is "backward-looking" and "fails to appreciate the scale of contracted demand underpinning the investment," Wedbush said.Oracle's remaining performance obligations have increased to $553 billion, driving its capital expenditure-to-RPO ratio to about 9%, compared with the group average of roughly 45.6%, Wedbush said. "This demonstrates that spending is not speculative but is deployed to service a massive backlog," according to Ives.In February, Oracle disclosed plans to raise between $45 billion and $50 billion this year to expand its cloud infrastructure business through a combination of debt and equity financing. The company said at the time that it would raise funds to build additional capacity and meet the contracted demand from its largest cloud customers, including Nvidia."As Oracle continues to convert its backlog into revenue, we expect the market narrative to shift from focusing on capex risk to the durable, long-term growth story that is unfolding," Ives wrote in the note.

$ORCL
Wire

Oracle Needs More Clarity in GPUaaS Margin Profile, Morgan Stanley Says

Oracle (ORCL) showed improved confidence in Q3 with execution and demand, but uncertainty persists around GPU as a Service business margin, Morgan Stanley said in a Thursday note.The report said Oracle shares have risen more than 20% over the past two weeks partly on continued strength in AI compute demand data points and improved sentiment on compute capex."Further improvement in investor sentiment on AI related hyperscaler/neocloud capex and customer concentration risk could yield further upside," the report said."However additional clarity in the gross margin profile of the GPUaaS business and financing path going forward (and a right-sizing of longer-term targets) would be needed to get more strategically positive on the shares," the note added.Morgan Stanley kept its equal weight rating while lowering its price target to $207 from $213 on balanced risk-reward profile.Price: $177.79, Change: $-9.71, Percent Change: -5.18%

$ORCL
Insider Trading

Oracle Insider Sold Shares Worth $2,642,850, According to a Recent SEC Filing

Stuart Levey, Executive Vice President, Chief Legal Officer, on April 16, 2026, sold 15,000 shares in Oracle (ORCL) for $2,642,850. Following the Form 4 filing with the SEC, Levey has control over a total of 3,429 common shares of the company, with 3,429 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1341439/000134143926000027/xslF345X05/form4.xml

$ORCL
Equities

S&P 500 Posts Weekly Gain, Closes at Record High, as Iran Reopens Strait of Hormuz

The Standard & Poor's 500 index rose 4.5% this week to a record close as investors grew more optimistic about the situation in the Middle East after Iran said the Strait of Hormuz was open.The S&P 500 ended the week at 7,126.06, its highest closing level ever. The market benchmark also reached a fresh intraday high on Friday of 7,147.52.The weekly climb -- its third in a row -- moved the S&P 500 back into positive territory for the year to date. It is now up 4.1% for 2026 and 9.2% for April.President Donald Trump said Iran agreed to suspend its nuclear program indefinitely and won't receive any frozen funds from the US, Bloomberg reported. Trump said in a phone interview on Friday that a deal to end the war is mostly complete and talks over a lasting agreement will "probably" be held this weekend, according to the Bloomberg news report.Earlier Friday, Iran announced the reopening of the Strait of Hormuz for the remainder of the US-Iran ceasefire period.The technology sector had the largest percentage gain this week across the S&P 500's 11 sectors, jumping 8.1%, followed by a 6.6% climb in consumer discretionary and a 6.3% advance in communication services. Real estate and financials were also strong, rising more than 3% each, while industrials and health care also edged higher.Oracle (ORCL) shares led the technology sector's advance, soaring 27%. The company said it plans to expand its multi-cloud networking capabilities to provide connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services.The consumer discretionary sector was boosted by a 15% jump in Tesla (TSLA) shares. The electric vehicle maker is developing a new compact, lower-cost electric SUV as it looks to expand its lineup beyond the Tesla Model Y and Tesla Model 3, according to a Reuters report citing unnamed sources familiar with the matter. Also, Tesla is planning to launch a six-seat, long-wheelbase version of the Model Y in India as early as next week, Bloomberg reported, citing unnamed sources.Four sectors declined this week, led by a 3.5% drop in energy and a 1.7% slip in utilities. Materials and consumer staples also edged lower.The energy sector's drop came as crude oil futures fell amid Iran's announcement reopening the Strait of Hormuz. The hardest-hit stocks included shares of Coterra Energy (CTRA), Devon Energy (DVN) and APA Corp. (APA), which shed 7.5% each.Quarterly earnings are expected next week from companies including Tesla, GE Aerospace (GE), GE Vernova (GEV), UnitedHealth Group (UNH), Philip Morris International (PM), International Business Machines (IBM), AT&T (T), Boeing (BA), Intel (INTC), American Express (AXP), Union Pacific (UNP), and Procter & Gamble (PG).Economic data will include March retail sales and pending home sales as well as a final reading on April consumer sentiment.

Dow JonesNasdaq CompositeS&P 500$APA$CTRA$DVN$ORCL$TSLA
Asia Markets

Israel-Lebanon Ceasefire, S&P 500's Record Close Drive US Equity Futures Higher Pre-Bell

US equity futures were higher pre-bell Friday as a 10-day ceasefire between Israel and Lebanon went into effect while the S&P 500 and Nasdaq Composite posted new all-time highs on Thursday.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.3% higher.The halt of Israel's attacks on Lebanon has been an important condition for the resumption of US-Iran talks, which President Donald Trump said could occur "probably, maybe, next weekend" in remarks made outside the White House on Thursday. Trump also said that a deal with Iran could be finalized ideally before the US-Iran ceasefire ends on Tuesday, but he was willing to extend if necessary.The S&P 500 gained 0.3% to close at 7,041.28, while the Nasdaq advanced 0.4% to end at 24,102.70.Traders took note of results from two major banks, with Truist Financial (TFC) reporting higher Q1 earnings and revenue and Fifth Third Bancorp (FITB) posting lower Q1 earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.2% at $95.17 per barrel and US West Texas Intermediate crude 4.9% lower at $90.08 per barrel.Federal Reserve San Francisco President Mary Daly, Richmond President Thomas Barkin, and Governor Christopher Waller are scheduled to speak on Friday.In other world markets, Japan's Nikkei closed 1.8% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Netflix (NFLX) stock was down 9.5% after the company issued Q2 guidance late Thursday that fell short of analysts' consensus. The streaming company also said that its chairman and co-founder, Reed Hastings, plans to step down when his term ends in June. Exelon (EXC) shares were 1.6% lower after the company's stock rating was downgraded by Mizuho, Barclays and BMO Capital.On the winning side, Eli Lilly (LLY) stock was up 1.9% after the company said its experimental drug Foundayo met its primary endpoint of a phase 3 clinical trial by showing a lower risk of severe cardiovascular incidents compared with insulin glargine in adults with type 2 diabetes. Oracle (ORCL) shares were up 2.6% after the company said it plans to expand its multi-cloud networking capabilities to provide connectivity between Oracle Cloud Infrastructure and Amazon (AMZN) Web Services.

Dow JonesNasdaq CompositeS&P 500$AMZN$EXC$FITB$LLY$NFLX$ORCL$TFC
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.4%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, a White House official told Cabinet department officials that the Office of Management and Budget is setting up protections that will allow federal agencies to begin using Amazon-backed (AMZN) Anthropic's new AI model Mythos, Bloomberg reported, citing an email from OMB Chief Information Officer Gregory Barbaccia. Amazon shares were up 0.2%.Oracle (ORCL) said Thursday it plans to expand its multi-cloud networking capabilities to provide connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services. Oracle shares gained 5.1%.IBM (IBM) will likely exceed Wall Street's estimates for Q1 and raise its revenue guide amid momentum in the software segment and an earlier completion of the Confluent acquisition, Oppenheimer said in a note Thursday. IBM shares climbed 2.2%.Meta Platforms (META) said it will raise its prices for Meta Quest 3 and Meta Quest 3S headsets, starting April 19, to offset the rising costs of hardware components. Meta shares rose 0.6%.

$AMZN$IBM$META$ORCL
Sectors

Sector Update: Tech Stocks Advance Thursday Afternoon

Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.1%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, IBM (IBM) will likely exceed Wall Street's estimates for Q1 and raise its revenue guide amid momentum in the software segment and an earlier completion of the Confluent acquisition, Oppenheimer said in a note Thursday. IBM shares climbed 2.5%.Amazon (AMZN)-backed Anthropic said Thursday it launched its Claude Opus 4.7 AI model for advanced coding across all Claude products, Amazon Bedrock, Alphabet's (GOOGL) Google Cloud Vertex AI, and Microsoft (MSFT) Foundry. Amazon shares added 0.3%.Oracle (ORCL) said Thursday it plans to expand its multicloud networking capabilities to provide high-performance connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services. Oracle shares gained 4.9%.

$AMZN$IBM$ORCL
Sectors

Sector Update: Tech

Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.6%.The Philadelphia Semiconductor index increased 0.6%.In corporate news, Oracle (ORCL) said Thursday it plans to expand its multicloud networking capabilities to provide high-performance connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services. Oracle shares gained 4.7%, and Amazon was up 0.1%.

$AMZN$ORCL
Wire

Top Midday Stories: TSMC Earnings, Guidance Top Estimates But Shares Fall; PepsiCo Shares Rise Following Q1 Earnings Report

All three major US stock indexes were up in late-morning trading Thursday, as investors take in updates on the war in Iran as well as the latest large-company earnings reports.In company news, Taiwan Semiconductor Manufacturing (TSM), or TSMC, reported Q1 earnings Thursday of 22.08 New Taiwan dollars ($0.70) per diluted share, up from NT$13.94 a year earlier and above the FactSet consensus analyst estimate of NT$20.92. First-quarter net revenue was NT$1.134 trillion, up from NT$839.25 billion a year ago and above the FactSet consensus of NT$1.121 trillion. For Q2, the chipmaker said it expects net revenue of $39 billion to $40.2 billion, above the FactSet consensus of $38.09 billion. TSMC shares were down 1.9% around midday.PepsiCo (PEP) reported fiscal Q1 core earnings Thursday of $1.61 per diluted share, up from $1.48 a year earlier and above the FactSet consensus of $1.54. Fiscal Q1 net revenue was $19.44 billion, up from $17.92 billion a year ago and above the FactSet consensus of $18.95 billion. For fiscal 2026, PepsiCo said it continues to expect core constant currency EPS growth of 4% to 6% and organic revenue growth of between 2% and 4%. PepsiCo shares were up 2.1%.Abbott Laboratories (ABT) reported Q1 adjusted earnings Thursday of $1.15 per diluted share, up from $1.09 a year earlier and above the FactSet consensus of $1.14. First-quarter net sales were $11.16 billion, up from $10.36 billion a year ago and above the FactSet consensus of $11.00 billion. For Q2, Abbott said it expected adjusted diluted EPS of $1.25 to $1.31, below the FactSet consensus of $1.36. For full-year 2026, the company said it expects adjusted EPS of $5.38 to $5.58, down from its prior guidance of $5.55 to $5.80 and below the FactSet consensus of $5.60. Full-year 2026 comparable sales are expected to grow 6.5% to 7.5%, the company said. Abbott shares were down 4.4%.Charles Schwab (SCHW) reported Q1 adjusted earnings Thursday of $1.43 per diluted share, up from $1.04 a year earlier and above the FactSet consensus of $1.40. First-quarter net revenue was $6.48 billion, up from $5.60 billion a year ago but below the FactSet consensus of $6.50 billion. The company also said Thursday it will launch a spot cryptocurrency trading service for retail customers in the coming weeks. For a fee of 75 basis points per transaction, the platform will provide direct trading of bitcoin and ethereum alongside traditional investments, the company said. Shares of Schwab were down 4.8%.Stellantis (STLA) and Microsoft (MSFT) said Thursday they have signed a five-year strategic collaboration deal to co-develop advanced artificial intelligence, cybersecurity and engineering capabilities for the automaker's vehicles. Separately, Stellantis is planning a 100-million-euro ($117.9 million) investment to update its Poissy assembly plant near Paris, Bloomberg reported Thursday. The company will continue making vehicles at the facility through at least the end of 2028, the report said. Stellantis shares were down 0.8%, while Microsoft shares were up 1.6%.Oracle (ORCL) said Thursday it plans to expand its multicloud networking capabilities to provide high-performance connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services. Oracle shares were up 4.1%, while Amazon shares were down 0.3%.Sales of Tesla's (TSLA) Cybertruck were boosted by purchases from Elon Musk's other companies, Bloomberg reported Thursday, citing S&P Global Mobility registration data. Tesla shares were down 1.1%.Price: $368.08, Change: $-7.02, Percent Change: -1.87%

$ABT$AMZN$MSFT$ORCL$PEP$SCHW$STLA$TSLA$TSM
Asia Markets

US Equity Markets Rise Amid Optimism Around Resumption of US-Iran Peace Talks, Lower Crude Oil Prices

US equity indexes closed higher on Tuesday as optimism over the resumption of US-Iran peace talks sent crude oil prices lower.* Talks to end the Iran war could resume in Pakistan over the next two days, US President Donald Trump said on Tuesday* The US Producer Price Index rose by 0.5% in March, the same as in February and below the 1.1% gain expected in a Bloomberg-compiled survey.* May West Texas Intermediate crude oil fell $7.37 to settle at $91.71 per barrel, while June Brent crude, the global benchmark, was last seen down $4.34 at $95.02.* Oracle (ORCL) shares rose about 4.8% after Bloom Energy (BE) said late Monday it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's artificial intelligence infrastructure buildout. Bloom Energy shares rose roughly 24%. Oracle, on Monday, also introduced AI-focused updates to its utilities software suite, targeting improvements in billing, grid operations, and asset management.* Wells Fargo's (WFC) shares were down nearly 5.7% after the company's Q1 revenue missed market expectations and Chief Executive Charlie Scharf said there will likely be a lag in the pass-through of higher oil prices.

Dow JonesNasdaq CompositeS&P 500$BE$ORCL$WFC
Sectors

Sector Update: Tech Stocks Higher Tuesday Afternoon

Tech stocks rose Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) advancing 1% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 1.2%.The Philadelphia Semiconductor index added 1%.In corporate news, Amazon (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as it aims to add direct-to-device services to its Leo satellite network. Amazon shares rose 4.2%, and Globalstar jumped nearly 10%.Nvidia (NVDA) shares rose 2.9% after the company said Tuesday it is launching a family of quantum AI models, Ising, designed to allow companies to build quantum processors that will be able to run useful applications.Bloom Energy (BE) said it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's AI infrastructure buildout. Oracle shares gained 5.7%.High Roller Technologies (ROLR) shares surged 60% after it said Tuesday it has signed an agreement with Crypto.com Derivatives North America to launch an event-based prediction markets offering, initially in the US.

$AMZN$GSAT$NVDA$ORCL$ROLR
Wire

Top Midday Gainers

Avanos Medical (AVNS) shares soared 70% amid heavy trading after the company said Tuesday it agreed to be acquired by American Industrial Partners affiliates in an all-cash deal valuing the company at roughly $1.27 billion.Intraday trading volume in Avanos catapulted to over 19.6 million shares from a daily average of about 579,000.Bloom Energy (BE) said late Monday it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's artificial intelligence infrastructure buildout.Bloom Energy shares jumped 21%, with intraday trading volume soaring to more than 16.3 million from a daily average of about 10.9 million.High Roller Technologies (ROLR) reported Tuesday that it has executed a definitive agreement with Crypto.com Derivatives North America to launch an event-based prediction markets offering, initially in the US.Shares of High Roller surged 61% as intraday trading volume advanced to over 80.6 million from a daily average of roughly 1.1 million.Price: $24.67, Change: $+10.14, Percent Change: +69.75%

$AVNS$BE$ORCL$ROLR

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