Category: Latest News
-
Oil Holds Steady and Remains on Course for Weekly Advance as Middle East Risks Stay Contained
Oil prices were little changed on Friday, but both major benchmarks remained on track to post solid weekly gains as investors weighed renewed military tensions between the United States and Iran against expectations that the conflict will remain limited and avoid disrupting crude exports from the Persian Gulf. At 14:18 ET (18:18 GMT), U.S. West…
-
U.S. Futures Cautious Ahead of Earnings Season as Markets Monitor Geopolitical Risks: Dow Jones, S&P, Nasdaq, Wall Street
U.S. equity futures traded with little direction on Friday as investors weighed strength in Asian technology stocks against ongoing tensions in the Middle East while preparing for the start of the second-quarter earnings season. “Steady earnings fundamentals continue to anchor index volatility, Q2 results will be key to confirm this,” Barclays strategist Emmanuel Cau wrote…
-
Wall Street Rallies as Chip Stocks Rebound and Oil Prices Ease Despite Iran Tensions
US stocks closed higher on Thursday as investors looked past a renewed flare-up in US-Iran hostilities and instead focused on a rebound in semiconductor stocks ahead of SK Hynix’s much-anticipated Nasdaq trading debut. Falling oil prices helped calm nerves even as the US and Iran traded fresh strikes during the session, with all three major…
-
JPMorgan Downgrades Stellantis as Cost-Cutting Benefits Expected to Take Longer to Materialise (STLA)
JPMorgan Turns More Cautious on Stellantis J.P. Morgan downgraded Stellantis (NYSE:STLA) to Neutral from Overweight on Thursday, while cutting its price target to €6 from €10, arguing that the automaker’s restructuring efforts will take longer than previously anticipated to translate into stronger earnings. Shares listed in the U.S. fell 1.8% in pre-market trading, while the…
-
Starbucks Develops AI Software to Reduce Reliance on Microsoft and IBM, Report Says (SBUX)
Starbucks Expands Internal AI Development Starbucks Corp. (NASDAQ:SBUX) is reportedly developing artificial intelligence-powered software that could replace several enterprise applications currently supplied by Microsoft Corp. (NASDAQ:MSFT) and International Business Machines Corp. (NYSE:IBM), according to a Bloomberg report citing an internal company presentation. Among the projects under development are replacements for Microsoft’s inventory management software and…
-
Meta Shares Slip as Heavy AI Infrastructure Spending Weighs on Investor Sentiment (META)
Massive AI Investment Overshadows In-House Chip Progress Meta Platforms (NASDAQ:META) shares fell 2.6% on Thursday morning as investors focused on the enormous cost of the company’s artificial intelligence expansion, despite progress toward developing its own AI chips. The social media giant revealed plans to begin production of its first internally designed AI chip, code-named “Iris,”…
-
Forte Biosciences Shares Climb After Positive Phase 1b Vitiligo Trial Results (FBRX)
FB102 Demonstrates Statistically Significant Efficacy Forte Biosciences (NASDAQ:FBRX) shares rose 12% on Thursday after the clinical-stage biotechnology company announced encouraging data from its Phase 1b trial evaluating FB102 as a treatment for vitiligo. The study showed that patients treated with FB102 achieved a mean improvement of 29.6% in Facial Vitiligo Area Scoring Index (FVASI) from…
-
Enovix Shares Jump After Former Apple Executive Appointed COO (ENVX)
Enovix Strengthens Leadership With Operations Veteran Enovix Corporation (NASDAQ:ENVX) shares surged 17.1% in pre-market trading on Thursday after the advanced battery developer announced the appointment of former Apple executive Dr. Michael Vyvoda as its new Chief Operating Officer. Vyvoda will officially join the company on 29 July 2026, bringing more than 25 years of experience…
-
Virax Biolabs Shares Double After Exclusive Fosun Distribution Agreement (VRAX)
Virax Biolabs Signs Multi-Country Supply Partnership Virax Biolabs Group Limited (NASDAQ:VRAX) shares surged 100% on Thursday after the company announced an exclusive commercial supply agreement with Fosun Diagnostics for its ImmuneSelect immune profiling product portfolio. The agreement covers six Southeast Asian markets—Thailand, Vietnam, Indonesia, the Philippines, Singapore and Malaysia—and establishes a framework for immediate product…
-
Rackspace Shares Rise Despite Lower FY26 Outlook as Company Expands AI Strategy (RXT)
Rackspace Lowers Full-Year Guidance Rackspace Technology (NASDAQ:RXT) revised its fiscal 2026 outlook lower, reducing its revenue forecast by $150 million and cutting its adjusted EBITDA guidance by $20 million, while outlining plans to accelerate its enterprise artificial intelligence business. The company attributed the weaker outlook to ongoing supply constraints, geopolitical uncertainty and a strategic decision…