$STX

59 stories mentioning STXUpdated 21h ago

Every FINWIRES story that references STX, newest first.

Update: US Equity Futures Lower Pre-Bell as Middle East Hostilities Resume, Oil Prices Rise

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Wednesday as hostilities between the US and Iran resumed after a two-day pause and oil prices jumped.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.1, and Nasdaq futures were 0.2% lower.US Central Command said in a post on X that Iran's Islamic Revolutionary Guard Corps launched missiles in an "attempted surprise attack" on US forces, which an Axios correspondent said was directed at a US base in Jordan. In a subsequent post, the command said that US and Saudi Arabian forces hit "Iran-aligned terrorists" in Iraq in response to more than 30 Iran-directed drone attacks in the last 72 hours.Microsoft (MSFT) and Meta Platforms (META) are expected to report their fiscal Q4 and Q2 earnings, respectively, after the market closes. For Microsoft, analysts polled by FactSet expect earnings of $4.24 per share on revenue of $87.62 billion. For Meta, analysts expect earnings of $7.19 per share on revenue of $60.22 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 6.4% at $89.49 per barrel and US West Texas Intermediate crude 6.2% higher at $84.15 per barrel.The Federal Open Market Committee is expected to maintain the range for its federal funds rate at the current 3.50% to 3.75% for the fifth straight meeting, with the CME's FedWatch Tool seeing a 68.5% chance of no change to the current target range and a 31.5% chance of a 25-basis point increase to 3.75% to 4.00%.The FOMC's statement following the meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET.In other world markets, Japan's Nikkei closed 1.5% lower, Hong Kong's Hang Seng ended 2% higher, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, energy-related stocks were on the upswing as oil prices increased. Exxon Mobil (XOM) shares rose 2.1%, Chevron (CVX) stock was 2% higher, and TotalEnergies (TTE) shares were up 2.2%. Seagate Technology (STX) stock was up 5.7% after the company reported fiscal Q4 adjusted earnings and revenue that surpassed analysts' estimates, as well as issuing a better-than-expected fiscal Q1 outlook.On the losing side, Visa (V) shares were down 2.2% despite posting a fiscal Q3 adjusted earnings and revenue beat. Procter & Gamble (PG) stock was down 3.1% after the company reported fiscal Q4 net sales that fell short of analysts' consensus. KLA (KLAC) shares fell 8.9% despite posting fiscal Q4 non-GAAP earnings and revenue that beat analysts' estimates.

Dow JonesNasdaq CompositeS&P 500$CVX$KLAC$META$MSFT$PG$STX$TTE$V$XOM

Equities1d ago

Social Buzz: Wallstreetbets Stocks Mostly Higher Pre-Bell Wednesday; Bloom Energy, Seagate Technology to Advance

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly higher hours before Wednesday's opening bell.Bloom Energy (BE) rose by 10% in premarket hours, swinging from an 11.3% decline at Tuesday's close. Bloom Energy posted higher Q2 adjusted earnings and revenue, and raised its 2026 outlook.Seagate Technology Holdings (STX) was up 6.4% pre-bell, after an 8.5% fall from the previous session. The company reported higher fiscal Q4 adjusted earnings and revenue.Sandisk (SNDK) advanced by 1.4% premarket, following a 14.3% decline at Tuesday's close.Micron Technology (MU) was 1% higher hours before the market open, after an 8.9% fall from the previous session.Nvidia (NVDA) was up 0.3% premarket, following a 0.3% increase at Tuesday's close.Microsoft (MSFT) advanced by 0.2% in pre-bell hours, after a 1.1% rise from Tuesday's session.SpaceX (SPCX) declined by 0.3% premarket, swinging from a 2.6% increase at Tuesday's close.Apple (AAPL) was slightly lower pre-bell, after a 0.9% increase from the previous session.

$AAPL$BE$MSFT$MU$NVDA$SNDK$SPCX$STX

Japan3d ago

Update: US Equity Futures Rise Pre-Bell as Oil Prices Drop Amid Pause in Middle East Hostilities

US equity futures rose pre-bell Monday as oil prices declined amid a pause in hostilities between the US and Iran over the weekend.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.3% higher.The US did not strike any Iranian targets on Saturday or Sunday after 13 consecutive nights of attacks. The US ambassador to the United Nations, Mike Waltz, told Fox News that President Donald Trump has halted the attacks for the meantime to allow more time for diplomacy. Iran said it will suspend its own attacks as long as the US does the same, Reuters reported Sunday, citing a senior Iranian official.Traders anticipate another round of earnings this week, kicked off by AstraZeneca (AZN), which posted higher Q2 core earnings and revenue.Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon.com (AMZN), Lam Research (LRCX), and Arm (ARM) are set to release their financial results this week. Anticipated earnings also include Seagate Technology (STX), Qualcomm (QCOM), Procter & Gamble (PG), Visa (V), and Mastercard (MA).Traders also look forward to the Federal Reserve's policy session and rate statement, slated for Wednesday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 5.2% at $86.94 per barrel and US West Texas Intermediate crude 6% lower at $83.97 per barrel.Durable goods new orders rose 0.3% in June after a 4.0% decline in the prior month, compared with expectations for a 1.8% increase in a survey compiled by Bloomberg. The Dallas Fed manufacturing survey for July will be released at 10:30 am ET.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended 1% higher, and China's Shanghai Composite finished 1.2% higher. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 1.6% higher in Europe's early afternoon session.In equities, energy-related stocks were on the downswing due to the drop in oil prices. Exxon Mobil (XOM) shares fell 3.4%, Chevron (CVX) stocks were down 2.7%, and Shell (SHEL) shares were 2.3% lower.On the winning side, Broadcom (AVGO) stock was up 2.1% after the company and Samsung Electronics said they signed a memorandum of understanding to expand their strategic collaboration across memory and foundry technologies to support next-generation artificial intelligence infrastructure. Advanced Micro Devices (AMD) shares rose 2.2% after a Korea Times report cited the Ministry of Science and ICT as saying that the company partnered with South Korea to establish an artificial intelligence research facility and expand computing infrastructure. Toyota Motor (TM) stock was up 1.6% after the company said it signed a binding agreement with Volvo Group and Daimler Truck to acquire a one-third stake in fuel-cell joint venture Cellcentric.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMD$AMZN$ARM$AVGO$AZN$CVX$LRCX$MA$META$MSFT$PG$QCOM$SHEL$STX$TM$V$XOM

Japan3d ago

US Equity Futures Rise Pre-Bell as Oil Prices Drop Amid Pause in Middle East Hostilities

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$ARM$AZN$LRCX$MA$META$MSFT$PG$QCOM$STX$V

Japan13d ago

US Equity Markets End Lower Amid Tech Sell-Off, Iran's Threat to Block Red Sea

US equity indexes closed lower on Thursday amid a sell-off in technology stocks, and Iran threatened to close the Red Sea in case of attacks on civilian sites.* US retail sales rose by 0.2% in June, as expected in a Bloomberg-compiled poll and following the previous month's revised 1.0% increase.* US initial jobless claims fell to a level of 208,000 in the week ended July 11 from an upwardly revised 216,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg.* The Iranian military warns "all infrastructure in the region will be crushed under steel blows" if the US carries out its threat to attack Iran's civilian sites, Al Jazeera reported.* August West Texas Intermediate crude oil fell $0.84 to settle at $78.93 per barrel, while September Brent crude, the global benchmark, was last seen down $0.92 at $84.17.* Abbott Laboratories (ABT) shares were up about 11%, the top gainer on the S&P 500, after lifting its full-year earnings outlook on Thursday as the healthcare firm reported Q2 results above market estimates.* Shares of Sandisk (SNDK), Western Digital (WDC), and Seagate Technology (STX) were down as part of a larger decline in the tech sector. Sandisk shares fell 13%, Western Digital stock dropped nearly 9%, and Seagate shed roughly 10%.

Dow JonesNasdaq CompositeS&P 500$ABT$SNDK$STX$WDC

Sectors13d ago

Sector Update: Tech Stocks Fall Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 6%.The Philadelphia Semiconductor index shed 4.3%.In corporate news, Taiwan Semiconductor Manufacturing (TSM) shares fell 3.3% despite the company's Q2 earnings and revenue surpassing analysts' consensus estimates. Shares of STMicroelectronics (STM), Western Digital (WDC), and Seagate Technology (STX) were also down as part of a larger decline in the tech sector. STMicroelectronics shares fell 7.5%, Western Digital stock dropped more than 10%, and Seagate shed 9.3%.Apple (AAPL) is readying a new iPad mini model with significant updates, including an OLED screen for the first time, Bloomberg reported. Apple shares rose 1.4%.Alphabet (GOOGL) is likely to deliver strong Q2 results amid strength in its cloud business, while the tech giant may raise its capital expenditure outlook, BofA Securities said Thursday. Alphabet shares were 0.2% higher.

$AAPL$GOOGL$STM$STX$TSM$WDC

Asia Markets14d ago

Update: US Equity Futures Edging Lower Pre-Bell as Traders Cautious on Tech, US Strikes Iran Targets Anew

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders saw tech stocks trend downwards and the US unleashed another round of strikes against Iran.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.4%, and Nasdaq futures were 1% lower.SK Hynix (SKHY) stock fell more than 11% in Seoul and 8% in premarket activity on the Nasdaq.US Central Command said in a post on X that it completed another wave of attacks against Iran, holding the nation "accountable" at the direction of President Donald Trump.Iran warned that it would hit key infrastructure in the Gulf region if the US followed through on Trump's threats on Tuesday to strike Iranian infrastructure such as bridges and power plants if progress on peace talks was not achieved.Traders took note of the latest round of earnings with Taiwan Semiconductor Manufacturing (TSM) posting higher Q2 earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.3% at $86.06 per barrel and US West Texas Intermediate crude 1.3% higher at $80.66 per barrel.US retail sales rose by 0.2% in June, following a 1.0% gain in the prior month and meeting expectations in a survey compiled by Bloomberg. Initial jobless claims dropped to 208,000 in the week ended July 11 from 216,000 in the previous week, compared with expectations for an increase to 217,000. The Philadelphia Federal Reserve's monthly manufacturing index rose to 41.4 in July from 10.3 in June, compared with expectations for a smaller increase to a reading of 12.5.The July US housing market index, slated for 10 am ET, is expected at 35, unchanged from the prior month. Pending home sales for June are expected to decline by 0.5% after a gain of 3.8% in the prior month.Federal Reserve Dallas President Lorie Logan, Kansas City President Jeffrey Schmid, and Vice Chair Philip Jefferson are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 2.8% lower, Hong Kong's Hang Seng ended 1.3% higher, and China's Shanghai Composite finished 1.9% lower. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, Taiwan Semiconductor Manufacturing shares were 4.2% lower despite the company's Q2 earnings and revenue surpassing analysts' consensus estimates. Stocks of STMicroelectronics (STM), Western Digital (WDC), and Seagate Technology (STX) were down as part of a larger decline in the tech sector. STMicroelectronics shares fell 4.8%, Western Digital stock was down 7.7%, and Seagate Technology shares dropped 6.5%.On the winning side, UnitedHealth Group (UNH) stock was up 6.7% after the company reported Q2 adjusted earnings and revenue that beat analyst estimates, as well as boosting its 2026 outlook. Baidu (BIDU) stock was up 2.1% after the company said its board approved a plan to pursue a voluntary conversion to a dual-primary listing on the Hong Kong Stock Exchange, while maintaining its primary listing on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$BIDU$SKHY$STM$STX$TSM$UNH$WDC

Wire17d ago

UBS Adjusts Seagate Technology Price Target to $860 From $545, Maintains Neutral Rating

Seagate Technology (STX) has an average rating of overweight and mean price target of $988.55, according to analysts polled by FactSet.Price: $848.97, Change: $-61.37, Percent Change: -6.74%

$STX

Wire19d ago

Seagate Technology Shares Rise After Wells Fargo Upgrade

Seagate Technology (STX) shares rose 2.8% in Friday afternoon trading after Wells Fargo upgraded the stock to overweight from equal weight and raised the price target to $1,100 from $900.Trading volume exceeded 2.5 million shares, compared with a daily average of about 4.4 million.Price: $915.40, Change: $+25.31, Percent Change: +2.84%

$STX

Research20d ago

Wells Fargo Upgrades Seagate Technology to Overweight From Equalweight, Adjusts Price Target to $1,100 From $900

Seagate Technology Holdings (STX) has an average rating of overweight and mean price target of $988.55, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$STX

Japan33d ago

Update: US Equity Indexes Lower in Final Leg of Trading as Technology Slides With Crude Oil

(Updates with index/price moves data, and political news from the first paragraph.)US stocks traded lower as technology raced to the bottom of sector charts, while crude oil traded at levels last seen before the Iran war after a "framework agreement" was signed between Israel and Lebanon.The Nasdaq Composite fell 0.4% to 25,263.4 ahead of Friday's close. The Dow Jones Industrial Average edged down 0.1% to 51,847.5, while the S&P 500 was down 0.2% to 7,347.4.Technology and industrials led the four declining sectors intraday. Health care, consumer discretionary, and consumer staples were among the top gainers.In a category of stocks with a market capitalization of over $200 billion, 16 out of the 20 worst-performing stocks were technology firms. Western Digital (WDC), Seagate Technology (STX), and Sandisk (SNDK) were the steepest decliners, down by at least 8.2% each. In the sliding technology shares, more than half were semiconductor companies.In geopolitical news, negotiators from Lebanon and Israel signed a "framework agreement" on the handover of areas in Israeli-occupied southern Lebanon after US-mediated talks in Washington, DC., according to a Friday report from Al Jazeera, a Middle East news broadcaster.This comes as Arsenio Dominguez, the secretary-general of the UN's International Maritime Organization, said 115 vessels and 2,500 seafarers have been evacuated from the Strait of Hormuz since Tuesday, Al Jazeera reported.The front-month global benchmark North Sea Brent slumped 4.5% to $71.88 per barrel, and the US West Texas Intermediate retreated 3.8% to $69.19 per barrel, extending their declines to the lowest since the beginning of the Iran war.

Dow JonesNasdaq CompositeS&P 500$SNDK$STX$WDC

Wire33d ago

Top Midday Decliners

ON Semiconductor's (ON) shares sank nearly 24% amid heavy trading after the company said it will acquire Synaptics (SYNA) in an all-stock deal with an enterprise value of about $7 billion, expanding its edge AI capabilities, according to a joint statement late Thursday.More than 25.5 million shares traded intraday compared with its daily average of around 11.7 million.In a category of stocks with a market capitalization of over $200 billion, 17 out of the 20 worst-performing stocks were technology firms, according to data compiled by Finviz.Western Digital (WDC) shares slumped 12%, with intraday trading volume climbing to 8.9 million from a daily average of roughly 8.1 million.Seagate Technology (STX) was down 7.8% amid a decline in intraday trading volume to about 4.04 million versus a daily average of 4.14 million.Price: $90.57, Change: $-28.17, Percent Change: -23.72%

$ON$STX$WDC

Asia Markets33d ago

Update: US Equity Indexes Mixed as Steepest Decliner Technology Eats into Consumer Discretionary Gains

(Updates with index/price moves, macroeconomic data, and analyst comment from the first paragraph.)US stocks traded mixed, as technology and consumer discretionary pulled in different directions while crude oil prices extended declines to levels last seen before the Iran war.The S&P 500 climbed 0.2% to 7,370.1, and the Dow Jones Industrial Average advanced 0.1% to 51,79.5 after midday Friday. The Nasdaq Composite was little changed at 25,360.3. Technology and industrials led the four declining sectors intraday. Health care, consumer discretionary, and consumer staples were among the top gainers.IBM's (IBM) technology capable of producing chips smaller than one nanometer represents a "major moment" for the semiconductor industry amid increasing artificial intelligence workloads, Wedbush Securities said in a note on Friday. IBM has created what it calls the "world's first sub-1 nanometer chip technology," the company said Thursday. IBM shares jumped 4.7%, making it the Dow's leader.Microsoft-backed (MSFT) OpenAI is leaning toward delaying its initial public offering until next year, the New York Times reported Thursday, citing three people involved in the company's deliberations. The ChatGPT maker hired bankers and lawyers, eyeing an IPO as soon as Q3 or Q4, with CEO Sam Altman pushing for a $1 trillion valuation, according to the report. Shares of Microsoft advanced 4.3%, among the Dow's top gainers.In a category of stocks with a market capitalization of over $200 billion, 17 out of the 20 worst-performing stocks were technology firms. Western Digital (WDC), Sandisk (SNDK), and Seagate Technology (STX) were the steepest decliners, down by at least 7.9% each. In the declining technology shares, more than half were semiconductor companies.In geopolitical news, 115 vessels and 2,500 seafarers have been evacuated from the Strait of Hormuz since Tuesday, said Arsenio Dominguez, the secretary-general of the UN's International Maritime Organization, according to a report from Al Jazeera.The front-month global benchmark North Sea Brent slumped 4.1% to $72.20 per barrel, and the US West Texas Intermediate retreated 3.5% to $69.43 per barrel, extending their declines to the lowest since the beginning of the Iran war."Oil resumed its decline after tanker transits through the Strait of Hormuz accelerated, following a brief rebound on Thursday when a container ship was struck by an unknown projectile off the coast of Oman," Saxo Bank said in a note. "The mini tsunami of released barrels is weighing on the front end of the futures curve."The University of Michigan consumer sentiment index was revised up to 49.5 for June from 48.9 in the preliminary estimate, below expectations of 50.0 in a Bloomberg-compiled poll. The print was also above the final 44.8 in May.Respondents in the Michigan survey expected a 4.6% inflation rate over the next year and 3.3% annually over the next five years, down from 4.8% and 3.9%, respectively, in May.Most US Treasury yields fell, with the 10-year down 1.6 basis points to 4.38%. The two-year rate dropped 3.3 basis points to 4.09%.Gold futures jumped 1.4% to $4,104.1, and silver futures climbed 1.6% to $59.31.

Dow JonesNasdaq CompositeS&P 500$IBM$MSFT$SNDK$STX$WDC

Asia Markets37d ago

Update: US Equity Futures Fall Pre-Bell Amid Broad Tech Sell-Off, US-Iran Peace Negotiations

(Updates with economic data, recent oil price movement, world markets' overview, and corporate stock movements.)US equity futures were lower pre-bell Tuesday amid a sell-off in tech stocks and ongoing peace negotiations between the U.S. and Iran.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 1.3%, and Nasdaq futures were 2.8% lower.Micron Technology (MU) stock was down 8.3% in premarket activity, joining a broader sell-off in the technology sector.Technical discussions between the US and Iran in Switzerland have been completed, with negotiating groups to be established to focus on nuclear issues and sanctions, AFP reported, citing Iranian state media.Iran's chief negotiator, Mohammad Bagher Ghalibaf, told state media that the country intends to retain control of the Strait of Hormuz after talks with the US. At least 35 vessels crossed the waterway on Monday, marking the highest level since the war in the Middle East began, AFP reported, citing data from maritime tracking firm Kpler.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.8% at $76.91 per barrel and US West Texas Intermediate crude 0.7% lower at $73.31 per barrel.The June S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 52.1, up from 51.5 previously, according to estimates compiled by Bloomberg. The Richmond Fed manufacturing index for June is scheduled to be released at 10 am ET.In other world markets, Japan's Nikkei closed 3.6% lower, Hong Kong's Hang Seng ended 1.8% lower, and China's Shanghai Composite finished 1.4% lower. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, shares of Marvell Technology (MRVL), Western Digital (WDC), and Seagate Technology (STX) were all down as part of a wider decline in technology stocks. Marvell shares dropped 8.8%, Western Digital stock was down 7.6%, and Seagate shares fell 7.7%.On the winning side, Netflix (NFLX) stock was up 0.9% after the company and Omnicom (OMC) said they agreed on a collaboration that combines Omnicom Media's Acxiom audience intelligence with Netflix's artificial intelligence-powered advertising technology. IBM (IBM) shares rose 4.2% after the company said it joined the OpenAI Daybreak Cyber Partner Program and launched a new application-security service that uses OpenAI's models to help enterprises identify and validate software vulnerabilities. Accenture (ACN) stock was up 2% after the company said it is raising its fiscal 2026 share repurchase plan by $2 billion to a total of $7.5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$IBM$MRVL$MU$NFLX$OMC$STX$WDC

Equities41d ago

S&P 500 Posts Weekly Gain Amid US-Iran Memorandum of Understanding

The Standard & Poor's 500 index rose 0.9% this week, boosted by a memorandum of understanding targeting a permanent peace deal to end the war between the US and Iran.The S&P 500 ended the week at 7,500.58. Thursday marked the final trading day of the week as the US stock market will be closed Friday for the Juneteenth holiday.The market benchmark is down 1.1% for the month but up 9.6% for the year.The memorandum of understanding between the US and Iran was signed Wednesday. The landmark agreement arrives after more than three months of hostilities resulted in the effective closure of the Strait of Hormuz, which connects the Persian Gulf with the Gulf of Oman and the Arabian Sea.The document, signed by US President Donald Trump and his Iranian counterpart, Masoud Pezeshkian, ensures toll-free passage of commercial vessels between the Persian Gulf and the Sea of Oman for 60 days. As part of the preliminary deal, Iran agreed that it won't procure or develop nuclear weapons. In addition, the MOU declares an "immediate and permanent" end of all military operations, including in Lebanon.Also this week, the Federal Reserve kept its monetary policy steady, removing the so-called easing bias from its statement, while raising its interest rate expectations through 2028. The central bank's Federal Open Market Committee maintained its interest rate at 3.50% to 3.75%, in line with Wall Street's expectations and marking its fourth consecutive pause.The technology sector had the largest percentage gain of the week, climbing 3.1%, followed by a 2.6% rise in industrials and a 1.1% increase in communication services. Consumer discretionary, utilities and financials also edged higher.Western Digital (WDC) and Seagate Technology (STX) shares were among the top weekly gainers in the technology sector as Morgan Stanley analysts said in a report that the companies are expected to benefit from strengthening demand for hard disk drives. Western Digital shares jumped 33% and Seagate shares added 15%.Micron Technology (MU) also gave the technology sector a boost, with its shares climbing 16%, amid multiple bullish analyst reports this week ahead of its earnings report due next week. Micron's shares deserve a higher valuation amid a stronger memory cycle driven by AI demand and tight industry supply, RBC Capital Markets said in a note to clients. Wedbush said the company is expected to benefit further from an upward trajectory in memory prices.On the downside, the energy sector fell 6.6% as crude oil futures dropped amid the agreement to reopen the Strait of Hormuz. Also in the red, real estate shed more than 3%, health care lost 3% and consumer staples declined 2.9%. Materials also edged lower.SLB (SLB) and Halliburton (HAL) had the largest weekly percentage drops in the energy sector, sliding 14% and 12%, respectively.Next week, in addition to Micron, earnings reports are expected from companies including FedEx (FDX), Darden Restaurants (DRI) and Carnival (CCL).Economic data will include the May personal consumption expenditures price index and the third estimate of Q1 gross domestic product. May consumer spending and durable goods will also be among the data released.

Dow JonesNasdaq CompositeS&P 500$HAL$MU$SLB$STX$WDC

Asia Markets44d ago

Update: US Equity Futures Largely Flat as Dow Climbs to New Record Amid Anticipated US-Iran Peace Deal Signing

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were firm pre-bell Tuesday as the Dow Jones Industrial Average climbed to a new record amid the anticipated signing of a peace deal between the US and Iran and the reopening of the Strait of Hormuz.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were flat, and Nasdaq futures were flat.The Dow gained 468.77 points, or 0.92%, on Monday, setting fresh intraday and closing records.Vice President JD Vance told CNBC in an interview that he expects the peace agreement to keep the Strait of Hormuz open "in a toll-free way for the long term." However, shippers say transit through the area remains unclear in the meantime, according to the report.Meanwhile, Elon Musk's Space Exploration Technologies (SPCX), known as SpaceX, continued its post-IPO rally, gaining 4.5% in pre-market activity.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.1% at $79.75 per barrel and US West Texas Intermediate crude 4.5% lower at $77.11 per barrel.May housing starts fell to a 1.177 million annual rate from 1.392 million in the previous month, compared with expectations for a 1.43 million rate in a survey compiled by Bloomberg.US import prices jumped 1.9% in May, above the 1% increase expected and below the 2% gain in April. US export prices rose by 1.3% in May, above the 0.9% gain expected and below the 3.5% increase in April.In other world markets, Japan's Nikkei closed 0.1% higher, Hong Kong's Hang Seng ended 1.4% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Micron Technology (MU) shares rose 0.9% after RBC Capital Markets said in a report that the company has room for its memory-chip upcycle to continue for another five to six quarters, supported by stronger pricing, robust generative AI demand and limited industry supply growth. Qualcomm (QCOM) stock was up 3.3% after CNBC cited CEO Cristiano Amon as saying that the company is developing more than 40 new AI device designs as it prepares for the next wave of "agent" powered consumer electronics. Seagate Technology (STX) and Western Digital (WDC) shares were up 4.2% and 6.3% , respectively, after Morgan Stanley said in a note that the companies are expected to benefit from strengthening demand for hard disk drives.On the losing side, Tesla (TSLA) stock was down 1.2% after BloombergNEF said in a note that global electric vehicle sales are expected to be slower than previously expected, especially in the US, hurt by the withdrawal of regulatory support for electrification in the country. STMicroelectronics (STM) shares fell 1.8% after the company said it launched a $1.5 billion offering of senior unsecured convertible bonds and plans to redeem its outstanding $750 million zero-coupon convertible bonds due 2027.

Dow JonesNasdaq CompositeS&P 500$MU$QCOM$SPCX$STM$STX$TSLA$WDC

Wire44d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were sharply higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 4.2%.The Philadelphia Semiconductor Index climbed up 5.4%.In corporate news, Nvidia (NVDA) is set to raise $25 billion from a high-grade bond sale that drew about $85 billion in orders, Bloomberg reported. Nvidia shares added 3.2%.Space Exploration Technologies (SPCX) revenue may surpass $1 trillion by 2031, CEO Elon Musk said Sunday on X. SpaceX shares jumped 15%.Seagate Technology (STX) and Western Digital (WDC) are expected to benefit from strengthening demand for hard disk drives, Morgan Stanley said in a note. The firm raised its price target for Seagate to $1,035 from $767, and for Western Digital to $650 from $488. Seagate shares climbed 8.5%, and Western Digital surged 15%.Microsoft (MSFT) faces a proposed class action lawsuit filed by shareholders alleging the company failed to disclose slowing Azure cloud growth and rising AI infrastructure costs, Reuters reported. Microsoft shares were up 2.3%.

$MSFT$NVDA$SPCX$STX$WDC

Wire44d ago

Top Midday Gainers

Cuprina (CUPR) said Monday its subsidiary Cuprina Pte Ltd. obtained 510(k) clearance from the US Food and Drug Administration for its Medifly Maggots product that uses Lucilia cuprina larvae in maggot debridement therapy.Shares of the parent company soared 121% as intraday trading volume catapulted to over 44.1 million from a daily average of about 1.6 million.Seagate Technology (STX) and Western Digital (WDC) are expected to benefit from strengthening demand for hard disk drives, Morgan Stanley said in a note Monday.Morgan Stanley adjusted its price target for Western Digital's shares to $650 from $488 while maintaining the stock's overweight rating. The investment bank adjusted Seagate's price objective to $1,035 from $767 while keeping its overweight rating.Shares of Western Digital climbed 15%, with intraday trading volume climbing to over 6.4 million from a daily average of roughly 7.7 million.Shares of Seagate jumped 7% following an increase in intraday trading volume to over 3.4 million from a daily average of about 3.9 million.Micron Technology (MU) has room for its memory-chip upcycle to continue for another five to six quarters, supported by stronger pricing, robust generative AI demand, and limited industry supply growth, RBC Capital Markets said.Shares of Micron advanced 10% as intraday trading volume rose to over 27.6 million from a daily average of about 51.1 million.Price: $8.79, Change: $+4.82, Percent Change: +121.41%

$CUPR$MU$STX$WDC

Wire45d ago

Seagate, Western Digital Likely to Benefit From Strengthening HDD Demand, Morgan Stanley Says

Seagate Technology (STX) and Western Digital (WDC) are expected to benefit from strengthening demand for hard disk drives, Morgan Stanley said in a note Monday.The report said checks in Asia from the last three weeks made clear the HDD cycle is elongating, with greater shortages now expected through at least 2028 while also illustrating that HDD pricing is clearly, and meaningfully, strengthening.The note also said HDD demand is rising 40% to 50% a year, while supply growth is closer to 30% to 35%."We believe that the market continues to underestimate the longevity of this HDD cycle, as well as the potential earnings power of both STX and WDC," the report said.The note said its base case 2028 EPS estimates for the two companies are now 70% above consensus.Morgan Stanley raised its price target for Seagate to $1,035 from $767, and for Western Digital to $650 from $488. It kept Seagate as its top pick on greater margin expansion prospect.Price: $1005.65, Change: $+74.61, Percent Change: +8.01%

$STX$WDC

International47d ago

US Equity Markets End Higher After Iran Confirms Progress on Peace Agreement, Crude Oil Prices Fall

US equity indexes were higher on Friday after Iran confirmed discussions on a peace treaty and crude oil prices fell.* Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. The draft deal includes a commitment that the US will lift oil sanctions, final negotiations will not begin until half of Iran's frozen funds are released, and a US naval blockade ends, CNBC reported, citing Iran's Mehr News Agency.* The University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, beating expectations for 46.0 in a Bloomberg-compiled survey.* July West Texas Intermediate crude oil fell $3.27 to settle at $84.44 per barrel, while August Brent crude, the global benchmark, was last seen down $3.45 at $86.93.* Seagate Technology (STX) shares were up about 7.3%, among the top gainers on the S&P 500, after the company said its Seagate HDD Cayman unit issued a notice to redeem all outstanding 3.50% exchangeable senior notes due 2028 that have not been exchanged.* Adobe's (ADBE) CFO departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note emailed Friday. The company's shares were down nearly 6.8%, the steepest decline on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$ADBE$STX

Showing 1-20 of 59

Track with the FINWIRES app suite

FolioX

Track STX in your portfolio

WheelAI

Analyze STX options with the wheel strategy

StockInsider

See market sentiment on STX