$STM

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