Embassy in Baghdad to address security concerns amid mounting tensions in the Middle East. In its fiscal fourth quarter, revenue grew 11% year-over-year to $15.9 billion, above the analyst consensus. Adjusted net income of $4.88 billion, or $1.70 per share, rose from $4.61 billion, or $1.63 per share, in the year-ago quarter, also beating estimates. Bitcoin was at $108,600 in late-afternoon trading, down from an overnight high of $110,300. The digital currency is not far from its record high of just below $112,000, set on May 22. By signing up to newsletters, you agree to our Terms of Use and acknowledge the Privacy Policy.
Today, for example, inflation data and the appearance of progress on the trade front gave investor sentiment a boost. US stocks moved higher on Thursday as President Trump again urged the Fed for a jumbo rate cut amid easing inflation pressures despite renewing «take it or leave it» tariff threats on trading partners. Sweetgreen shares are under pressure Tuesday, sliding more than 3%, after TD Cowen cut its rating to hold from buy, and trimmed its price target by $10 to $15. Analyst Andrew Charles said he thinks Sweetgreen shares will trade at a lower multiple, on par with its peers, as it tries to expand into «new, unproven geographies.» Traders are hoping for deals between the U.S. and its trading partners, as Trump’s 90-day reprieve on his steepest tariffs is set to expire next week.
US dollar sinks to lowest level in three years
While investor focus is shifting back to the Fed, Wall Street is still closely following the latest twists and turns in Trump’s tariff policy in the hunt for clarity.
Biggest S&P 500 Movers on Wednesday
Analysts polled by Visible Alpha were looking for $68.9 million, or $0.16 per share. Meanwhile, the company is exploring selling a minority stake in its struggling shops in China, and has received a “lot of interest” from potential partners, CEO Brian Niccol recently told The Financial Times. The coffee chain’s shares were recently up more than 4% to above $95, within range of the roughly $100 they last closed above in March before sinking below $80. Once it receives the necessary permits to start building its «Aurora powerhouse» small modular nuclear reactors, the startup will «design, construct, own, and operate» a plant to provide power to the Eielson Air Force Base in Alaska. CEO Safra Catz said Oracle expects cloud infrastructure growth to increase from 50% in fiscal 2025 to more than 70% in fiscal 2026.
Public companies bought more bitcoin than ETFs did for the third quarter in a row
Meanwhile, the relative strength index confirms bullish price momentum, though the indicator remains below overbought levels, providing ample room for further upside. After hitting its all-time high last month, bitcoin’s price consolidated within a flag, a chart pattern that indicates a continuation of the cryptocurrency’s uptrend that started in early April. Shares of nuclear energy startup Oklo (OKLO) skyrocketed Wednesday after the company announced it had tentatively landed a «mission-critical» contract to provide nuclear energy to a U.S. Oil companies were up, with Occidental Petroleum (OXY) and ConocoPhillips (COP) both finishing up more than 2%. GameStop’s stock, which fell about 5% in the day’s regular session, was off another 11% in after-hours action.
Dow jumps 400 points, S&P 500 closes flat to start new quarter as investors rotate out of tech
- GameStop’s stock, which fell about 5% in the day’s regular session, was off another 11% in after-hours action.
- The company also hopes to lift sales by making cafes a more welcoming place to spend time and money.
- «FY25 was a very good year—but we believe FY26 will be even better as our revenue growth rates will be dramatically higher,» said Catz.
- The S&P 500 and Nasdaq Composite declined 0.3% and 0.5%, respectively, while the Dow Jones Industrial Average fell fractionally, as each of the indexes gave up earlier gains.
- Please bear with us as we address this and restore your personalized lists.
Last month, Bloomberg reported that Tesla was targeting a June 12 launch for the autonomous ridesharing service, while Musk had previously only said the program was on track to launch sometime this month. In its own posts hours before Musk’s, the Tesla X account posted a robot and car emoji, and responded to another user sharing video of what appeared to be a Tesla with no one in the driver’s seat being tested on the roads of Austin, Texas. Huang’s comments during his keynote speech at the chipmaker’s GTC Paris developer conference marked a more optimistic take by the Nvidia CEO, who said early this year that quantum computing technology is 15 to 30 years away.
The Senate narrowly passes Trump’s giant tax-and-spending bill
The company affirmed its full-year outlook of 6% to 7% sales growth to $12.30 billion to $12.45 billion. For the second quarter, Chewy forecast adjusted EPS of $0.30 to $0.35 and sales of $3.06 billion to $3.09 billion, while analysts currently expect $0.31 and $3.04 billion, respectively. The company announced Green Dot Assist, an AI assistant, will be rolled out to improve store operations, and help with tasks like reviewing beverage recipes and troubleshooting equipment.
- Put another way, investors appear to have moved on, even if the degree to which Musk and Trump have—the former earlier today posted that he “went too far” in some of his comments regarding the president, though he didn’t say which ones—remains an open question.
- Sweetgreen shares are under pressure Tuesday, sliding more than 3%, after TD Cowen cut its rating to hold from buy, and trimmed its price target by $10 to $15.
- Oklo shares rallied last month after the company announced it had completed initial work at the site in Idaho, where it is planning to build and start operating its first reactor by late 2027 or early 2028.
- Shares of nuclear energy startup Oklo (OKLO) skyrocketed Wednesday after the company announced it had tentatively landed a «mission-critical» contract to provide nuclear energy to a U.S.
Trump reiterated his call for a jumbo rate cut from Fed Chair Jerome Powell, saying it was needed to decrease the cost of short-term debt. Trump said he told Powell in his office that if inflation rises, he can raise rates again. Get the latest updates on pre-market movers, S&P 500, Nasdaq Composite and Dow Jones Industrial Average futures.
While Zachary Hill, head of portfolio management at Horizon Investments, doesn’t believe the market expects «very much,» volatility could still be on the horizon. Shares in Quantum Computing (QUBT) were up nearly 30% in recent trading, while Rigetti Computing (RGTI) surged 18% and D-Wave Quantum (QBTS) shares added 2%. Shares in quantum computing firm IonQ (IONQ), which announced the acquisition of a U.K. Of the 13 Oracle analysts tracked by Visible Alpha, 6 recommend buying the stock and 7 have assigned it a “hold” rating. The average price target of $174.42 is about 2% below the stock’s closing price on Tuesday.
Chewy Stock Slides as Profit Falls Short of Estimates
The company last month said it had recently bought more than 4,700 bitcoin. GameStop (GME) shares fell in extending trading after the company announced plans for a big convertible notes offering expected largely to fund its Bitcoin-buying aims. Oracle (ORCL) delivered quarterly results that topped analysts’ expectations and projected strong growth, sending shares sharply higher in extended trading Wednesday. US trading partners will get letters within a week or two to set their unilateral tariff rates, Trump reiterated on Wednesday, renewing the threat of no-deal hikes. Software company Figma officially filed for its initial public offering on Tuesday, looking to build on the momentum new tech stocks are finding in the public markets. Tesla (TSLA) shares are rising in premarket trading Wednesday after three straight sessions of gains following new social media posts from CEO Elon Musk.
Tesla — The electric vehicle maker shed 6% after President Donald Trump suggested that the U.S. Department of Government Efficiency look at subsidies how to calculate arbitrage in forex for Tesla CEO Elon Musk’s companies for potential cost-cutting measures. «We believe investors will be focusing on the regulatory environment, hold rate improvements, the evolving prediction market landscape, and capital allocation,» he added. Sheeckutz noted that DraftKings could be impacted by the impact of New Jersey’s and Louisiana’s plans to raise taxes on online sports betting, as well as the new delayed date for Missouri’s legal sports betting launch. There has been no official NCAA basketball game since Electronic Arts last edition in 2009, but the revived college football game released last year proved to be a big hit for EA, opening the door for the company to take another stab at a sport where it has struggled.
Japan’s Nikkei 225 benchmark fell 1.24% to end the day at 39,986.33 after hitting an over 11-month high in its previous session, while the broader Topix index declined by 0.73% to settle at 2,832.07. Analyst Steven Sheeckutz kept his buy rating and upped his price target by $3 to $58 to account for the stock’s recent multiple expansion, he said. His new price target indicates about 35.2% potential upside for the stock, which has jumped 15.3% year to date.
Ahead of the earnings report, traders were pricing in the likelihood of a big move in Oracle’s stock price. Market participants also welcomed news of progress made in trade talks between U.S. and Chinese officials, who met in London on Monday and Tuesday. The countries announced that a framework had been reached that would allow for the implementation of an agreement reached last month in which the U.S. and China slashed the massive tariffs they had imposed on one another. Trump said in a post on Truth Social this morning that a «deal with China is done,» subject to approval from him and Chinese President Xi Jinping. Get the latest updates on US markets, world markets, stock quotes, crypto, commodities and currencies. Trump renewed his threat to hit major trading partners, sending stock markets tumbling.
But the process was delayed over the last two years as complaints were submitted by competing nuclear energy providers, according to Barron’s. «Oracle is well on its way to being not only the world’s largest cloud application company—but also one of the world’s largest cloud infrastructure companies,» Catz added. «FY25 was a very good year—but we believe FY26 will be even better as our revenue growth rates will be dramatically higher,» said Catz. The gains came as cloud infrastructure revenue jumped 52% to $3 billion, making it Oracle’s fastest-growing segment, though the figure was slightly short of Wall Street estimates. Sign up for CNN Business’ newsletter for the top stories you need to know. By entering your email address, you agree to our Terms of Use and acknowledge the Privacy Policy.
Shares have dropped more than 17% in 2025, a turn from the two strong years that came before. The bank said the Wrangler parent has «strong brand momentum» with an «attractive growth opportunity.» Specifically, the firm pointed out the company’s acquisition of Helly Hansen, which Goldman said helps diversify the portfolio. «In effect, we went on hold when we saw the size of the tariffs and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs,» Powell said. Elsewhere, electric vehicle maker Tesla fell 5% after Trump suggested in a post on Truth Social that the Department of Government Efficiency (DOGE) should look into the government subsidies that CEO Elon Musk’s companies have received. Musk has also said Tesla’s plans for a more affordable Tesla model are on track to launch this month as well, but details about that potential launch have yet to be released. The stock was down 5% at around $21 in recent trading, giving back much of the 8% it gained on Tuesday, when it paced S&P 500 advancers.
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