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Palo Alto Networks (PANW) has an average rating of overweight and mean price target of $315.69, 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: $275.10, Change: $-4.15, Percent Change: -1.49%
Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.4%.The Philadelphia Semiconductor Index advanced 1.3%.In sector news, SpaceX plans to price its IPO at $135 per share, seeking to raise $75 billion, Reuters reported. The firm plans to sell 555.6 million shares in an all-primary offering and is aiming for a $1.75 trillion valuation, the report said.Separately, xAI has halted hiring for specialists to train its Grok chatbot on a range of skills due, in part, to concerns that the company's human resources department is overwhelmed by the number of candidates, Bloomberg reported.In corporate news, Alphabet (GOOG, GOOGL) increased the size of its equity capital raise to $84.75 billion from the previously announced $80 billion, according to a regulatory filing Tuesday. The offering includes a pledge by Berkshire Hathaway (BRK.A, BRK.B) to invest $10 billion in the tech giant in a private placement, the filing said. Alphabet's Class A and Class C shares were each down 0.2%.Palo Alto Networks (PANW) late Tuesday reported stronger-than-expected fiscal Q3 results as an AI boom drove demand for cybersecurity. Its shares still fell 6%.Baidu (BIDU) expects to list its chip unit Kunlunxin Technology in Hong Kong this year, The Wall Street Journal reported, citing Chief Financial Officer Henry He. Baidu shares were down 1.4%.
All three major US stock indexes were down late-morning Wednesday, as oil prices and US Treasury yields rose amid concerns about the ongoing conflict between the US and Iran.In company news, Alphabet (GOOG, GOOGL) upsized its equity capital raise to $84.75 billion from the previously announced $80 billion, according to a regulatory filing Tuesday. The offering includes a pledge by Berkshire Hathaway (BRK.A, BRK.B) to invest $10 billion in a private placement, the filing said. Alphabet's Class C and Class A shares were each down about 0.8%. Berkshire's Class A and Class B shares were up 0.3% and 0.5%, respectively.SpaceX plans to price its initial public offering at $135 per share, seeking to raise $75 billion, Reuters reported late Tuesday, citing people familiar with the matter. The firm plans to sell 555.6 million shares in an all-primary offering and is aiming for a $1.75 trillion valuation, the report said. Separately, 10 officials in the Trump administration reported financial interests in SpaceX and xAI worth at least $9.9 million and as much as $43.8 million, Bloomberg reported Wednesday, citing recent public financial disclosures.Hartford Insurance Group (HIG) has agreed to sell its Hartford Funds unit to Wellington Management in a deal with a net present value of $1.9 billion, the companies said Wednesday. Hartford will receive $300 million in cash at closing, with additional payments over seven years tied to cash generated by the combined business and related product sales, the companies said. Hartford shares were down 0.5%.Medtronic (MDT) reported fiscal Q4 adjusted earnings Wednesday of $1.55 per diluted share, down from $1.62 a year earlier but above the FactSet consensus analyst estimate of $1.54. Fiscal Q4 revenue was $9.81 billion, up from $8.93 billion a year ago and above the consensus of $9.62 billion. For fiscal 2027, the company expects adjusted EPS of $5.90 to $6.00 on organic revenue growth of 6.75% to 7.25%. Analysts polled by FactSet expect adjusted EPS of $6.05. Medtronic said it is investing in two privately held intracardiac echocardiography catheter companies. Financial details of the investments were not disclosed. Medtronic shares were up 4.6%.Palo Alto Networks (PANW) reported fiscal Q3 adjusted earnings late Tuesday of $0.85 per diluted share, up from $0.80 a year earlier and above the FactSet consensus of $0.79. Fiscal Q3 revenue was $3 billion, up from $2.29 billion a year ago and above the consensus of $2.94 billion. For fiscal Q4, the company said it expects adjusted EPS of $0.96 to $0.98 on revenue of $3.35 billion to $3.36 billion. Analysts polled by FactSet expect $0.94 and $3.28 billion, respectively. Palo Alto Networks shares were down 4.3%.Price: $355.43, Change: $-2.96, Percent Change: -0.83%
Palo Alto Networks (PANW) has multiple tangible artificial intelligence monetization opportunities, RBC Capital Markets analysts said in a Wednesday note.Analysts said that the company reported a "strong" Q3, topping analyst expectations, and raised its full-year guidance.RBC said that while it is still relatively early in enterprise AI deployments, Palo Alto is seeing three major AI tailwinds, including broader interest in platformization, securing AI deployments with Prisma AIRS, and securing higher traffic generated through AI deployments."We view Palo Alto as well positioned to benefit from an increasingly complex security and threat landscape and as an industry leader in security," analysts said.RBC retained an outperform rating on the stock and increased its price target to $330 from $255.Price: $282.46, Change: $-14.72, Percent Change: -4.95%
Palo Alto Networks' (PANW) fiscal Q3 results indicated increasing customer demand for platform-based cybersecurity services as artificial intelligence adoption grows, Morgan Stanley said in a note Wednesday.According to the note, the company delivered upside across multiple areas, including CyberArk, SASE, Prisma AIRS, XSIAM and its core firewall business, with all segments outperforming expectations.Customers are consolidating vendors not only because it is cost-efficient but also to reduce security vulnerabilities, especially as cyber threats become more severe, the note said.Morgan Stanley said this trend remains in its early stages, with Palo Alto still holding only a single-digit share of the overall cybersecurity market, leaving a significant runway for future growth."[W]e expect growth to accelerate in the next year, even as the company cautions the pace, providing a continued positive catalyst for the name," the note said.Meanwhile, the stock's relatively flat reaction following earnings likely reflects a pause after its 61% gain over the past month, Morgan Stanley said, adding that investors are now focused on how quickly customers adopt AI security tools, not on whether they will.Morgan Stanley raised its price target on Palo Alto to $320 from $253, while keeping its overweight rating.Price: $278.67, Change: $-18.51, Percent Change: -6.23%
US equity futures were mixed pre-bell Wednesday as the US and Iran exchanged military strikes in the Middle East and progress on peace talks remained uncertain.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% higher.The US Central Command reported Tuesday the defeat of several Iranian ballistic missiles and drones launched at Kuwait and Bahrain. The military command said it also conducted "self-defense strikes" on Iranian forces on Qeshm Island in the Strait of Hormuz.President Donald Trump said Iran has agreed to not have nuclear weapons, according to a CNBC report citing the New York Post's "Pod Force One" podcast. "I mean, now they can change their mind, but that was one of the things they've had to agree, they've agreed to that. That was the big thing," he said.Traders digested the latest round of earnings, with Palo Alto Networks (PANW) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $98.38 per barrel and US West Texas Intermediate crude 2.8% higher at $96.39 per barrel.ADP's national employment report showed that private sector employment increased by 122,000 in May, compared with expectations for a 120,000 gain in a survey compiled by Bloomberg.The S&P Global composite purchasing managers' index final report for May, due at 9:45 am ET, is seen to be unchanged at 51.7. April factory orders, due at 10 am ET, are expected to have gained 4.6%, compared with 1.5% previously.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 2.5% higher, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, Palo Alto Networks stock was down 3.8% after reporting its fiscal Q3 financial results. Palantir Technologies (PLTR) shares fell 1% after a UK parliamentary committee said that the company's expanding role across the UK public sector represents an "unacceptable point of weakness." Novartis (NVS) stock was down 1% after Celcuity (CELC) reported that detailed results from a phase 3 trial showed its investigational breast cancer treatment gedatolisib outperformed Novartis' alpelisib plus fulvestrant in patients with hormone receptor-positive, HER2-negative, PIK3CA-mutated advanced breast cancer.On the winning side, Sherwin-Williams (SHW) shares were up 3.6% after the company and Nippon Paint Group said they had abandoned their joint attempt to buy AkzoNobel. BP (BP) stock was up 1.3% after the Financial Times reported that the company held advanced talks to sell its UK North Sea oil and gas assets to Ithaca Energy in a deal potentially worth close to 2 billion British pounds ($2.7 billion).
US equity futures were mixed pre-bell Wednesday as the US and Iran continued to exchange attacks in the Middle East, while progress on peace talks remained murky.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.2% higher.US Central Command reported the defeat of several Iranian ballistic missiles and drones launched at Kuwait and Bahrain. The military command said it also conducted "self-defense strikes" on Iranian forces on Qeshm Island in the Strait of Hormuz.President Donald Trump said that Iran has "already agreed" not to have nuclear weapons, according to a CNBC report that cited the New York Post's "Pod Force One" podcast. "I mean, now they can change their mind, but that was one of the things they've had to agree, they've agreed to that. That was the big thing," he said.Traders digested the latest round of earnings, with Palo Alto Networks (PANW) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.1% at $97.97 per barrel and US West Texas Intermediate crude 2.1% higher at $95.73 per barrel.The ADP employment report for May, expected at 8:15 am ET, is seen showing an increase of 120,000 from 109,000 in the prior month, according to estimates compiled by Bloomberg.The S&P Global purchasing managers' index composite final report for May, due at 9:45 am ET, is seen reporting 51.7, unchanged from the prior value. April factory orders, due at 10 am ET, are expected to have gained 4.6%, compared with 1.5% previously.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.
The main US stock measures were mostly trending lower in Wednesday's premarket activity as traders assess the latest developments in the Middle East.The S&P 500 edged down 0.1% and the Dow Jones Industrial Average declined 0.4%, while the Nasdaq gained 0.2% before the opening bell. All three indexes recorded new closing highs on Tuesday.President Donald Trump said in a podcast interview that Iran has agreed not to have nuclear weapons, several media outlets reported Wednesday. In a social media post on Tuesday, Trump said negotiations between the US and Iran were "going on continuously."Earlier in the week, Iranian state-affiliated outlet Tasnim reported that the country suspended talks with the US in retaliation to Israel's military action in Lebanon.The US Central Command said Tuesday that its forces "successfully defeated" multiple Iranian ballistic missiles and drones and launched defensive strikes following "attempted attacks" by Tehran across the Middle East.Iran reportedly launched a wave of missile and drone attacks toward Kuwait and Bahrain in a major escalation of regional tensions. Kuwait said a number of "hostile drones" targeted its airport, causing significant material damage and injuring several people.West Texas Intermediate crude oil increased 2.6% to $96.17 a barrel in premarket action, while Brent advanced 2.5% to $98.42."Crude oil continues to trade from one headline to the next, making it increasingly difficult for traders to maintain conviction beyond a few hours," Saxo Bank said in a Tuesday report. "Global energy markets continue to tighten, with the main focus remaining on the Strait of Hormuz, a vital shipping artery that remains effectively shut, sustaining concerns about supply disruptions and elevated energy prices."Treasury yields were up before the open, with the two-year rate rising 2.9 basis points to 4.08% and the 10-year rate adding 3 basis points to 4.49%.The Organization for Economic Cooperation and Development on Wednesday cut its global growth outlook for 2026, warning that a prolonged war between the US and Iran could have "longer-lasting negative consequences."The ADP Employment report for May is out at 8:15 am ET. On Tuesday, official data showed that US job openings hit their highest level in almost two years in April, while hiring and layoffs fell.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am. The purchasing managers' index composite final report from S&P Global (SPGI) for May posts at 9:45 am, followed by the Institute for Supply Management's services index for the same month at 10 am.The weekly EIA domestic petroleum inventories report is due at 10:30 am. The Federal Reserve's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, is out at 2 pm.Fed Governor Michael Barr is scheduled to speak at 9 am, while Dallas Fed President Lorie Logan speaks at 4 pm.The Fed may need to raise interest rates should inflationary pressures persist, Cleveland Fed President Beth Hammack said Tuesday. "If we wait for definitive evidence that high inflation has become embedded in the economy, it may require larger policy adjustments, at greater cost," Hammack said in prepared remarks for an event in Ohio.Shares of Palo Alto Networks (PANW) declined 3.7% pre-bell following the company's latest quarterly results. Marvell Technology (MRVL) climbed 14% after Nvidia (NVDA) Chief Executive Jensen Huang reportedly said the company could be the next chip manufacturer to join the trillion-dollar club.Broadcom (AVGO), CrowdStrike (CRWD), Veeva Systems (VEEV) and Five Below (FIVE) are expected to release their latest earnings after the markets close. Medtronic (MDT), Macy's (M), Ollie's Bargain Outlet (OLLI) and Thor Industries (THO) post their financial results before the bell, among others.Gold slipped 0.7% to $4,488 per troy ounce, while bitcoin inched 0.3% higher to $67,127.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PANW reported Q3 non-GAAP EPS of $0.85, beating consensus by $0.05, while revenue of $3.0B grew 31% Y/Y, exceeding projections by $60M. Results include $388M from CyberArk and Chronosphere acquisitions, with subscription revenue reaching $2.408B (+31% Y/Y) and product revenue of $594M (+31% Y/Y). Next-Generation Security (NGS) ARR growth accelerated significantly to 60% Y/Y, reaching $8.1B, marking substantial acceleration from 33% growth in Q2, driven by customers securing AI deployments at scale and strong platformization momentum. Management raised FY 26 revenue guidance to $11.415B-$11.425B (24% growth) and NGS ARR guidance to $8.90B-$8.95B (59%-60% growth), with non-GAAP EPS expectations of $3.77-$3.79 exceeding Street projections of $3.69. Cash flow generation remained robust, with trailing 12-month adjusted FCF margin of 38.5% (+430 bps Y/Y), keeping the company firmly on track toward its 40% FCF margin target by FY 28, reflecting scalability of the platform model.
Palo Alto Networks (PANW) late Tuesday reported stronger-than-expected fiscal third-quarter results as an artificial intelligence boom drove demand for cybersecurity.Adjusted per-share earnings rose to $0.85 for the three months through April 30 from $0.80 a year earlier, beating the consensus on FactSet of $0.79. Revenue grew 31% to $3 billion, above analysts' $2.94 billion estimate."(Third quarter) was a standout quarter for Palo Alto Networks, with accelerating organic bookings growth as customers turn to us to secure their AI deployments at scale," Chief Executive Nikesh Arora said in a statement. "The latest advancements at the AI frontier have increased the level of urgency around cybersecurity, and redefined the shape of the industry for the coming years."Subscription and support revenue advanced to $2.41 billion from $1.84 billion in the year-ago period, while product sales increased to $594 million from $453 million.The cybersecurity firm's stock climbed 11% in after-hours trading, and has gained 61% this year through Tuesday close.Morgan Stanley expected solid results at Palo Alto amid favorable partner commentary and demand momentum.Palo Alto raised its fiscal 2026 adjusted EPS guidance to between $3.77 and $3.79 from $3.65 to $3.70 previously projected. The consensus estimate indicates $3.68. Revenue is pegged at $11.415 billion to $11.425 billion, compared with the prior outlook that called for $11.28 billion to $11.31 billion. Wall Street is modeling for $11.3 billion.For the fourth quarter, the company anticipates reporting adjusted EPS of $0.96 to $0.98 on revenue of $3.345 billion to $3.355 billion. The Street is looking for $0.94 and $3.28 billion, respectively.Palo Alto Networks has closed several acquisitions this year, including those of observability platform Chronosphere and CyberArk.
Palo Alto Networks (PANW) reported fiscal Q3 adjusted earnings late Tuesday of $0.85 per diluted share, up from $0.80 a year earlier.Analysts polled by FactSet expected $0.79.Revenue for the three months ended April 30 was $3 billion, up from $2.29 billion a year earlier.Analysts surveyed by FactSet expected $2.94 billion.For fiscal Q4, the company expects adjusted EPS of $0.96 to $0.98 on revenue of $3.35 billion to $3.36 billion. Analysts expect $0.94 and $3.28 billion, respectively.For full-year fiscal 2026, the company now expects adjusted EPS of $3.77 to $3.79 on revenue of $11.42 billion to $11.43 billion, up from the prior forecast of adjusted EPS of $3.65 to $3.70 on revenue of $11.28 billion to $11.31 billion.Analysts expect $3.68 and $11.30 billion, respectively.Shares of Palo Alto Networks rose about 9% in after-hours activity.
US benchmark equity indexes were mostly higher intraday as investors evaluated fresh labor market data and continued to monitor Middle East developments.The Dow Jones Industrial Average was up 0.3% at 51,225.9 after midday Tuesday, while the S&P 500 rose 0.1% to 7,606.1. The Nasdaq Composite was little changed at 27,093.8. The indexes notched fresh closing highs in the previous session.Among sectors, utilities paced the gainers intraday Tuesday, while communication services saw the biggest decline.In economic news, US job openings hit their highest level in almost two years in April, while hiring and layoffs fell, official data showed."Job openings jumped to their highest level in nearly two years, but this likely overstates the strength of the labor market, as the increase didn't translate into a higher hiring rate," Oxford Economics said in a note. "The result should be taken with a grain of salt and doesn't suggest a sudden tightening of labor market conditions is ahead."Official data are expected to show Friday that the US economy added 95,000 nonfarm jobs in May, compared with a 115,000 increase reported for the previous month, according to a Bloomberg poll.West Texas Intermediate crude oil was up 1.6% at $93.59 a barrel intraday Tuesday, while Brent rose 1.1% to $96.04.Israel and Lebanon kicked off high-stakes talks in the US as renewed hostilities between Israel and Iran-backed Hezbollah threaten to derail peace talks between Washington and Tehran, CNN reported.Negotiations with Iran have been "going on continuously," US President Donald Trump said Tuesday."Where they lead, one never knows, but as I told Iran, 'It's time, one way or another, for you to make a deal'," Trump said in a social media post.On Monday, Iranian state-affiliated outlet Tasnim reported that the country suspended talks with the US in retaliation to Israel's military action in Lebanon.US Treasury yields were mixed intraday Tuesday, with the 10-year rate down two basis points at 4.46%, and the two-year rate little changed at 4.05%.In company news, Hewlett Packard Enterprise (HPE) shares jumped nearly 16%, the second-top gainer on the S&P 500. Late Monday, the information technology company lifted its full-year outlook and reported stronger-than-expected fiscal second-quarter results.Marvell Technology (MRVL) shares surged 29% intraday Tuesday after Nvidia (NVDA) Chief Executive Jensen Huang reportedly said Marvell could be the next chip company to join the trillion-dollar club.Palo Alto Networks (PANW), Ulta Beauty (ULTA) and GitLab (GTLB) are expected to report their latest quarterly financial results after the closing bell Tuesday, along with others.Gold was up 0.3% at $4,517.60 per troy ounce, while silver rose 0.4% to $75.54 per ounce.
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.
(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%
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.
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%
US equity futures were edging higher pre-bell Monday despite the shaky Middle East ceasefire being tested once again by a new exchange of attacks, even as President Donald Trump stated that Iran wants to come to an agreement.Dow Jones Industrial Average futures were 0.21% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.The US said that it struck radar and drone sites in Iran after an American drone was shot down over the weekend. Iran then said it launched its own strike, while Kuwait reported that it intercepted incoming drone and missile fire."Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us," Trump said in a post on Truth Social. He has not yet decided on whether to move forward on an agreement to extend the ceasefire and reopen the Strait of Hormuz.Among the companies reporting financial results this week are Palo Alto Networks (PANW), Broadcom (AVGO), and CrowdStrike (CRWD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.3% at $93.24 per barrel and US West Texas Intermediate crude 2.9% higher at $89.92 per barrel.The final S&P Global manufacturing purchasing managers index for May, due at 9:45 am ET, is seen coming in at 55.3, unchanged from its prior value, according to estimates compiled by Bloomberg.The May Institute for Supply Management's services index, due at 10 am ET, is projected at 53.0, versus 52.7 previously. The April construction spending report is also due at 10 am ET.In other world markets, Japan's Nikkei closed 0.9% higher, Hong Kong's Hang Seng ended 0.9% higher, and China's Shanghai Composite finished 0.3% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.6% higher in Europe's early afternoon session.In equities, Nvidia (NVDA) and Microsoft (MSFT) shares were up 2.4% and 3.6%, respectively, after Nvidia said it launched RTX Spark, a new chip for Microsoft Windows PC personal AI agents. Dell Technologies (DELL) stock was up 1.2% after the company said it launched its XPS 13 compact laptop. Salesforce (CRM) shares rose nearly 5% after the company said it plans to invest $2 billion in France through 2030 and expand its AI and cloud operations.On the losing side, Toyota Motor (TM) stock was down 3% after a Wall Street Journal report that the Trump administration is expected to propose a tweak to the US-Mexico-Canada Agreement that would require half of all automobile components and materials to come from sources in the US. Constellation Energy (CEG) stock was down 2.7% after the company said certain shareholders launched a public offering of 11 million of its common shares.
US equity futures were higher pre-bell Monday despite the shaky Middle East ceasefire being tested once again by a new exchange of attacks, even as President Donald Trump stated that Iran wants to come to an agreement.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.2% higher.The US said that it struck radar and drone sites in Iran after an American drone was shot down over the weekend. Iran then said it launched its own strike, while Kuwait reported that it intercepted incoming drone and missile fire."Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us," Trump said in a post on Truth Social. He has not yet decided on whether to move forward on an agreement to extend the ceasefire and reopen the Strait of Hormuz.Among the companies reporting financial results this week are Palo Alto Networks (PANW), Broadcom (AVGO), and CrowdStrike (CRWD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.8% at $93.71 per barrel and US West Texas Intermediate crude 3.5% higher at $90.39 per barrel.The final S&P Global manufacturing purchasing managers index for May, due at 9:45 am ET, is seen coming in at 55.3, unchanged from its prior value, according to estimates compiled by Bloomberg.The May Institute for Supply Management's services index, due at 10 am ET, is projected at 53.0, versus 52.7 previously. The April construction spending report is also due at 10 am ET.
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.
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%.
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