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Top Midday Stories: Marvell Next Trillion-Dollar Firm, Nvidia CEO Reportedly Says; Anthropic Expands Mythos Access to 150 New Partners
All three major US stock indexes were up in late-morning trading Tuesday, as investors monitor developments between the US and Iran as well as oil price movements.In company news, Nvidia (NVDA) Chief Executive Jensen Huang said Marvell Technology (MRVL) is the next "trillion-dollar company," news outlets reported, citing Huang's appearance at a trade show in Taipei. Nvidia shares were up 0.9%, while Marvell shares were up 29.7%.Amazon-backed (AMZN) Anthropic said Tuesday it is expanding its Project Glasswing program to about 150 new organizations based in over 15 countries, granting them access to Claude Mythos Preview. The partnering organizations use Mythos to scan their codebases for vulnerabilities. So far, the 50 initial partners have found over 10,000 high- or critical-severity security flaws, Anthropic said. Separately, Amazon Web Services will be integrated with Workday (WDAY) Data Cloud, allowing developers to access governed HR and finance data through AWS Ai and analytics tools, Workday said. Amazon shares were down 0.3%, while Workday shares were down 7.1%.Hewlett Packard Enterprise (HPE) reported fiscal Q2 adjusted earnings late Monday of $0.79 per diluted share, up from $0.38 a year earlier and above the FactSet consensus of $0.53. Fiscal Q2 revenue was $10.7 billion, up from $7.63 billion a year ago and above the FactSet consensus of $9.78 billion. For fiscal Q3, the company expects adjusted EPS of $0.88 to $0.93 on revenue of $11.5 billion to $12.1 billion. Analysts polled by FactSet expect $0.58 and $10.9 billion, respectively. For its full-year guidance, the company now expects adjusted EPS of $3.35 to $3.45, up from its prior forecast of $2.30 to $2.50 and above the FactSet consensus of $2.42. Hewlett Packard shares were up 21.5%.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 were down 2.3%, while its class C shares were down 2.2%. Berkshire's class A shares were up 0.4%, while its class B shares were up 0.3%.President Donald Trump signed a proclamation on Tuesday lowering the tariffs on agricultural equipment and certain other equipment to 15% from 25%, the White House said. In addition, the existing category of industrial equipment subject to a 15% tariff was expanded to include mobile industrial equipment, like bulldozers and forklifts, "when imported from trade deal countries that are entitled to such treatment," the White House said. The proclamation also allows foreign companies to qualify for a 10% duty rate if their capital equipment includes at least 85% US melted and poured or smelted and cast steel or aluminum by weight, the White House said. The tariff changes will last until Dec. 31, 2027, the White House said. Shares of Deere (DE), Agco (AGCO), CNH Industrial (CNH) and Caterpillar (CAT) were up 5.3%, 6.1%, 10.1% and 4.7%, respectively.IBM (IBM) said Tuesday it plans to invest over $10 billion in quantum computing over the next five years. The investment will go toward research and development, capital expenditure, manufacturing scaling, ecosystem partnerships and M&A, the company said. IBM shares were up 1.1%.Price: $283.09, Change: $+63.66, Percent Change: +29.01%
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