$STM

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) adding 1% and the State Street SPDR S&P Semiconductor ETF (XSD) popping 5.8%.The Philadelphia Semiconductor index climbed 5.2%.In corporate news, Hewlett Packard Enterprise (HPE) shares jumped past 18% after the company reported fiscal Q2 earnings ahead of analysts' forecasts.Marvell Technology (MRVL) shares surged nearly 31% after multiple news outlets reported that Nvidia (NVDA) Chief Executive Jensen Huang called the chipmaker the next "trillion-dollar company."STMicroelectronics (STM) shares popped 15% after it said Tuesday that it now expects to generate data center revenue of about $1 billion in 2026, compared with previous guidance of more than $500 million.Alphabet (GOOG, GOOGL) said Monday it plans to raise $80 billion in equity to help fund investments in AI compute infrastructure, including a $10 billion private placement to Berkshire Hathaway (BRK.A, BRK.B), split evenly between class A common stock at $351.81 per share and class C capital stock at $348.20 per share. Alphabet's Class A shares fell 3.6%, and its Class C shares were down 3.4%.

Sector Update: Tech

Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) adding 1% and the State Street SPDR S&P Semiconductor ETF (XSD) popping 5.9%.The Philadelphia Semiconductor index climbed 5.2%.In corporate news, STMicroelectronics (STM) shares jumped nearly 15% after it said Tuesday that it now expects to generate data center revenue of about $1 billion in 2026, compared with previous guidance of more than $500 million.

Sector Update: Tech Stocks Advance Premarket Tuesday

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

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

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

Research Alert: CFRA Maintains Buy Recommendation On Adss Of Stmicroelectronics N.v.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our Buy recommendation on ADSs of STMicroelectronics as we raise our target price to USD76 (up from USD60). This implies a 2026 P/E of 59x and 2027 P/E of 32x, which is above its 10-year historical average of 19x. This is justified by its strategic pivot toward higher-margin growth areas such as silicon carbide and MEMS sensors, in our view. That said, we see limited upside potential given that STM trades above its five-year average P/E amid a challenging operating environment. Our 2026 EPS estimate is USD1.30 and our 2027 EPS estimate is USD2.40 (raised from USD2.10). We remain positive as we see STMicroelectronics riding on the ongoing AI trend with its new line of ultralow-power sensors for wearables and AI data center momentum.

US Equity Markets End Lower as Rising Oil, Bond Yields Stoke Inflation Concerns

US equity indexes ended lower on Friday as crude oil prices and government bond yields rose, triggering increasing concerns that rising energy costs will spur inflation.* The US war with Iran is nearing its 11th week, and the Strait of Hormuz remains closed to oil tankers.* Industrial production rebounded by 0.7% in April, above expectations for a 0.3% increase in a Bloomberg survey and following an upwardly revised 0.3% decline in March.* June West Texas Intermediate crude oil rose $4.29 to settle at $105.46 per barrel, while July Brent crude, the global benchmark, was last seen up $3.55 at $109.28.* Nvidia (NVDA), Advanced Micro Devices (AMD), Arm Holdings (ARM) and Intel (INTC) shares declined, while ASML Holding (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements.* DexCom (DXCM) shares rose 6.6%, the top gainer on the S&P 500, after the company set new long-term financial goals, including organic revenue growth of more than 10% a year through 2030.

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) down 2%.The Philadelphia Semiconductor index slumped 3.3%.In corporate news, Bill Ackman said Friday on the social media platform X that his Pershing Square hedge fund has sold Alphabet (GOOGL) shares and established a new position in Microsoft (MSFT). Alphabet shares were down 1.1%, and Microsoft climbed 3.7%.Nvidia (NVDA), Advanced Micro Devices (AMD) and Intel (INTC) shares declined in Friday trading, while ASML (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements, Yahoo Finance reported. The pullback came after talks between President Donald Trump and Chinese President Xi Jinping failed to produce significant developments on semiconductor trade issues, despite investor expectations for progress on advanced chip sales to China, the report said. Nvidia shares fell 3.6%, AMD lost 4.4%, Intel declined 5.9%, ASML dropped 4.7%, and STMicroelectronics slumped 4.3%.Figma (FIG) shares gained 14% after it posted Q1 adjusted net income and revenue that surpassed analysts' estimates.Xerox (XRX) shares jumped past 7% after alternative investment fund Starteepo Invest acquired 6.6 million shares of the company, representing a 5.05% stake.

Sector Update: Tech Stocks Fall in Afternoon Trading

Tech stocks were lower Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) down 1.6%.The Philadelphia Semiconductor index slumped 2.6%.In sector news, the world's largest AI firms could earn $200 billion in revenue this year, more than five times the $37 billion they brought in last year, according to estimates from Menlo Ventures. The venture capital firm has tracked AI revenue growth from Microsoft (MSFT), Amazon (AMZN), Alphabet's Google (GOOGL), OpenAI, Anthropic, Cursor and other companies for the past three years.In corporate news, Nvidia (NVDA), Advanced Micro Devices (AMD) and Intel (INTC) shares declined in Friday trading, while ASML (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements, Yahoo Finance reported. The pullback came after talks between President Donald Trump and Chinese President Xi Jinping failed to produce significant developments on semiconductor trade issues, despite investor expectations for progress on advanced chip sales to China, the report said. Nvidia shares fell 2.5%, AMD lost 3.5%, Intel declined 5.3%, ASML dropped 4.2%, and STMicroelectronics slumped 3.8%.Bill Ackman said Friday on the social media platform X that his Pershing Square hedge fund has sold Alphabet (GOOGL) shares and established a new position in Microsoft (MSFT). Alphabet shares were down 1%, and Microsoft climbed 4.3%.Xerox (XRX) shares jumped past 9% after alternative investment fund Starteepo Invest acquired 6.6 million shares of the company, representing a 5.05% stake.

Sector Update: Tech

Tech stocks were lower Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.The Philadelphia Semiconductor index slumped 3.1%.In corporate news, Nvidia (NVDA), Advanced Micro Devices (AMD) and Intel (INTC) shares declined in Friday trading, while ASML (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements, Yahoo Finance reported. The pullback came after talks between President Donald Trump and Chinese President Xi Jinping failed to produce significant developments on semiconductor trade issues, despite investor expectations for progress on advanced chip sales to China, the report said. Nvidia shares fell 3.3%, AMD lost 4%, Intel declined 6.9%, ASML dropped 4.2%, and STMicroelectronics slumped 4.4%.

Top Midday Stories: Semiconductor Stocks Down After Trump-Xi Summit; Microsoft Gets Investment From Ackman

All three major US stock indexes were down while US Treasury yields were up in late-morning trading Friday, as investors consider developments from President Donald Trump's summit with Chinese President Xi Jinping.In company news, major semiconductor shares were down after the US-China summit failed to produce any major semiconductor agreements, Yahoo Finance reported. President Trump said China has not approved purchases of Nvidia's (NVDA) H200 AI microchips yet because "they want to develop their own," Bloomberg reported Friday. Nvidia shares were over 3% lower, and Advanced Micro Devices (AMD), Intel (INTC) and ASML (ASML) shares were down 3.3%, 6.3% and 4.6%, respectively.Bill Ackman said Friday on X that his hedge fund, Pershing Square, has made a significant investment in Microsoft (MSFT). Microsoft shares were up 3.5%.Applied Materials (AMAT) reported fiscal Q2 adjusted earnings late Thursday of $2.86 per diluted share, up from $2.39 a year ago, and above the FactSet consensus estimate of $2.68. Revenue was $7.91 billion, up from $7.10 billion a year ago, and above the FactSet consensus of $7.68 billion. For fiscal Q3, the company said it expects adjusted EPS of $3.16 to $3.56 on revenue of $8.45 billion to $9.45 billion. Analysts expect $2.89 and $8.14 billion, respectively. The firm expects its semiconductor equipment business to grow more than 30% in 2026, up from its previous guidance of over 20%, according to the transcript of the company's earnings call. Applied Materials shares were little changed.Shares of Cerebras Systems (CBRS) were down 4% Friday after rising over 98% in the previous day following its Nasdaq debut.Blackstone (BX) and CD&R are in the preliminary stages of exploring offers to acquire Magnum Ice Cream (MICC), Reuters reported Friday, citing sources familiar with the matter. Blackstone shares were down 3.0%, while Magnum was up 9%.Price: $227.99, Change: $-7.75, Percent Change: -3.29%

Market Chatter: Semiconductor Stocks Fall After US-China Summit Ends Without Breakthrough

Nvidia (NVDA), Advanced Micro Devices (AMD) and Intel (INTC) shares declined in Friday trading, while ASML (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements, Yahoo Finance reported Friday.The pullback came after talks between President Donald Trump and Chinese President Xi Jinping failed to produce significant developments on semiconductor trade issues, despite investor expectations for progress on advanced chip sales to China, according to the report.Washington has authorized Nvidia to export H200 chips to China, though Beijing has not formally approved shipments, while US officials said semiconductors were not a central focus of the summit, the report added.Shares of Nvidia, Advanced Micro Devices, Intel, ASML and STMicroelectronics were down 4.4%, 4.5%, 7.5%, 5.5% and 6.1%, respectively, in Friday trading.(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: $227.98, Change: $-7.76, Percent Change: -3.29%

Research Alert: CFRA Raises Recommendation On Adss Of Stmicroelectronics To Buy From Hold

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our rating to Buy from Hold with a higher target price of USD60 (from USD30), implying a 2026 P/E of 45x and a 2027 P/E of 28x, as we believe STM is well positioned as a diversified analog and mixed-signal semiconductor leader with strategic exposure to electrification, energy efficiency, and digitalization across automotive, industrial, and IoT end markets, particularly through its leadership in silicon carbide power devices, automotive MCUs, and MEMS sensors. For Q2 2026, management guided net revenues to ~USD3.45B (well ahead of consensus of USD3.19B) and gross margin of around 34.8%. While our long-term view remains constructive given STM's early vertical integration in SiC and design wins with key OEMs, we remain cautious in the near term due to ongoing automotive and industrial semiconductor cycle weakness, slower-than-expected OEM inventory digestion, and suboptimal fab utilization weighing on margins. We raised our 2026 EPS estimate to USD1.30 from USD1.10 and 2027's to USD2.10 from USD1.90.

Update: STMicroelectronics Shares Rise After Q1 Revenue Beats Consensus

(Updates with stock movement in the headline and first paragraph.)STMicroelectronics (STM) shares rose 13% in Thursday trading after the company reported Q1 revenue that beat the Wall Street consensus.Revenue in the three months ended March 28 rose to $3.1 billion from $2.52 billion a year earlier.Analysts polled by FactSet expected $3.04 billion.Non-GAAP earnings rose to $0.13 per diluted share from $0.07 per share a year earlier.Analysts polled by FactSet expected $0.18.The company expects Q2 revenue of $3.45 billion. Analysts polled by FactSet project $3.16 billion.Price: $50.58, Change: $+5.72, Percent Change: +12.75%

Sector Update: Tech Stocks Mixed Premarket Thursday

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 0.3%.Nokia (NOK) stock was up more than 9% after the company reported higher Q1 comparable earnings and net sales.STMicroelectronics (STM) shares were up more than 7% after the company posted higher Q1 non-GAAP earnings and revenue, and issued Q2 revenue outlook above analysts' expectations.Roper Technologies (ROP) stock was up more than 3% after the company reported higher Q1 adjusted earnings and revenue, and raised its 2026 adjusted EPS outlook.

Research Alert: Stmicroelectronics Reports Better-than-expected Q1 2026 Revenue

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:STMicroelectronics' (STM) Q1 2026 revenue of USD3.10B (+23.0% Y/Y) beat expectations, attributed to Personal Electronics and CECP demand recovery with strong bookings and normalized inventory levels. Operating income surged to USD171M from USD11M in the prior year but missed consensus estimates of USD175M, with gross margin improving to 33.8% due to a better product mix and lower unused capacity charges. We think STM's mixed results reflect uneven recovery, though the expanded multi-billion-dollar AWS partnership for AI datacenter infrastructure and USD895M NXP MEMS acquisition position the company for growth in higher-margin segments. Management guided Q2 2026 revenue to USD3.45B, well above consensus of USD3.19B, with gross margin expected at 34.8%. We believe datacenter revenue projections of over USD500M for 2026 and above USD1B for 2027 support near-term earnings growth, though thin margins and automotive sector exposure remain concerns, in our opinion.

STMicroelectronics Shares Rise After Upgrade From Mizuho Securities

STMicroelectronics (STM) shares were up more than 6% in afternoon trading on Friday after Mizuho Securities upgraded the company's stock to outperform from neutral.Trading volume stood at over 16.1 million shares against a daily average of about 8.8 million.Price: $44.08, Change: $+2.51, Percent Change: +6.04%

Mizuho Securities Upgrades STMicroelectronics to Outperform From Neutral, $32 Price Target