Following recent sell-offs, Micron (MU +4.60%) stock saw a day of strong rebound trading on Wednesday. The company's share closed out the day up 4.8% and had been up as much as 5.3% earlier in the session. The S&P 500 index's level ended the day up 1%, and the Nasdaq Composite closed out the day up 1.5%. On the heels of bearish pressures for the broader market, stocks saw a strong rebound in today...
Following recent sell-offs, Micron (MU +4.60%) stock saw a day of strong rebound trading on Wednesday. The company's share closed out the day up 4.8% and had been up as much as 5.3% earlier in the session. The S&P 500 index's level ended the day up 1%, and the Nasdaq Composite closed out the day up 1.5%. On the heels of bearish pressures for the broader market, stocks saw a strong rebound in today's trading. Bullish momentum for the semiconductor trade resumed today, and Micron's share price climbed in conjunction with general market trends. Micron regains ground Semiconductor stocks have been at the center of the broader market's bullish momentum over the last couple of months. While bullish momentum for chip stocks has wavered in recent sessions, investors bought back into top chip stocks in today's session. To put things in perspective, Micron is up roughly 156% year to date -- but it's still down 9% from its lifetime high. Expand NASDAQ : MU Micron Technology Today's Change ( 4.60 %) $ 32.12 Current Price $ 730.86 Key Data Points Market Cap $788B Day's Range $ 700.70 - $ 735.40 52wk Range $ 90.93 - $ 818.67 Volume 1.5M Avg Vol 45M Gross Margin 58.54 % Dividend Yield 0.07 % What's next for Micron? As the strongest player in the high-performance memory chip market, Micron has become one of the most important tech stocks when it comes to shaping momentum for the broader market. The demand outlook for the company's high-bandwidth-memory (HBM) chips for use in conjunction with AI processors remains very promising, but investors should understand that the chip specialist's valuation could face pressures if bullish momentum in the broader chip space falters.
StepStone Group (NASDAQ:STEP) reported record fee-related earnings and fundraising in its fiscal fourth quarter 2026, even as GAAP results were weighed down by accounting related to its StepStone Private Wealth profits interests. The private markets investment firm reported a GAAP net loss attributable to StepStone Group Inc. of $7.8 million, or $0.10 per share. Seth Weiss, head of investor relati...
StepStone Group (NASDAQ:STEP) reported record fee-related earnings and fundraising in its fiscal fourth quarter 2026, even as GAAP results were weighed down by accounting related to its StepStone Private Wealth profits interests. The private markets investment firm reported a GAAP net loss attributable to StepStone Group Inc. of $7.8 million, or $0.10 per share. Seth Weiss, head of investor relations, said GAAP accounting required the company to factor the change in fair value of the buy-in of StepStone Private Wealth profits interests through the income statement, which drove the negative GAAP result. On an adjusted basis, StepStone generated $69 million in adjusted net income, or $0.57 per share, down from $81 million, or $0.68 per share, in the prior-year quarter. Weiss attributed the decline primarily to lower performance-related earnings, partially offset by higher fee-related earnings. Fee-Related Earnings Cross $100 Million StepStone generated fee-related earnings of $105 million in the quarter, up 12% from the prior-year period, with an FRE margin of 40%. Excluding retroactive fees, core fee-related earnings were $101 million, up 28% year over year, with the core FRE margin also at 40%. Chief Executive Officer Scott Hart said the quarter marked StepStone’s “best quarter ever of fee-related earnings,” supported by growth in fee-earning assets across the platform. Hart said the firm expects top-line growth and operating leverage to continue supporting FRE growth in fiscal 2027. Chief Financial Officer David Park said fee revenues were $260 million, up 21% from the prior-year quarter. Excluding retroactive fees, fee revenues rose 29%, reflecting growth in fee-earning assets across commercial structures. Park said StepStone generated a full-year core FRE margin of 38%, up slightly from the prior year and more than 600 basis points higher than two years earlier. Fundraising Reaches Record Levels StepStone reported nearly $14 billion in capital formation during th...
NVIDIA NASDAQ: NVDA reported record first-quarter fiscal 2027 results, with revenue, operating income and free cash flow all surpassing prior company highs, as executives said demand for AI infrastructure continued to accelerate across hyperscale cloud providers, AI cloud companies, sovereign customers and enterprise users. Colette Kress, NVIDIA’s executive vice president and chief financial offic...
NVIDIA NASDAQ: NVDA reported record first-quarter fiscal 2027 results, with revenue, operating income and free cash flow all surpassing prior company highs, as executives said demand for AI infrastructure continued to accelerate across hyperscale cloud providers, AI cloud companies, sovereign customers and enterprise users. Colette Kress, NVIDIA’s executive vice president and chief financial officer, said total revenue reached $82 billion, up 85% from a year earlier and 20% sequentially. The quarter marked NVIDIA’s third straight period of year-over-year acceleration and its 14th consecutive quarter of sequential growth. Kress said the $13.5 billion sequential revenue increase was also a company record. Get NVIDIA alerts: Sign Up “We capitalized on the inflection in inference demand by ramping Blackwell systems across our diverse end customer base, from hyperscalers to model makers to AI cloud providers and sovereign customers,” Kress said. Data Center Revenue Drives Results Data center revenue was $75 billion, up 92% year-over-year and 21% sequentially. Kress said the increase was driven by continued strength in NVIDIA’s Blackwell architecture, with demand for GB300 and NVL72 systems described as “particularly strong.” For modeling purposes, Kress said data center computing revenue was $60 billion, up 77% year-over-year, while data center networking revenue was $15 billion, nearly tripling from the year-ago period. She also said Spectrum-X, NVIDIA’s Ethernet platform built for AI, is now “larger than all Ethernet network peers combined,” while InfiniBand grew more than fourfold year-over-year, helped by deployments of next-generation XDR technology. NVIDIA introduced a new reporting framework that divides the business into two market platforms: Data Center and Edge Computing. Within Data Center, the company will report two sub-markets: Hyperscale and ACIE, which includes AI clouds, industrial and enterprise customers. Kress said hyperscale revenue was $38 billion, ...
For modeling purposes, Kress said data center computing revenue was $60 billion, up 77% year-over-year, while data center networking revenue was $15 billion, nearly tripling from the year-ago period. She also said Spectrum-X, NVIDIA’s Ethernet platform built for AI, is now “larger than all Ethernet network peers combined,” while InfiniBand grew more than fourfold year-over-year, helped by deployme...
For modeling purposes, Kress said data center computing revenue was $60 billion, up 77% year-over-year, while data center networking revenue was $15 billion, nearly tripling from the year-ago period. She also said Spectrum-X, NVIDIA’s Ethernet platform built for AI, is now “larger than all Ethernet network peers combined,” while InfiniBand grew more than fourfold year-over-year, helped by deployments of next-generation XDR technology. Data center revenue was $75 billion, up 92% year-over-year and 21% sequentially. Kress said the increase was driven by continued strength in NVIDIA’s Blackwell architecture, with demand for GB300 and NVL72 systems described as “particularly strong.” “We capitalized on the inflection in inference demand by ramping Blackwell systems across our diverse end customer base, from hyperscalers to model makers to AI cloud providers and sovereign customers,” Kress said. Colette Kress, NVIDIA’s executive vice president and chief financial officer, said total revenue reached $82 billion, up 85% from a year earlier and 20% sequentially. The quarter marked NVIDIA’s third straight period of year-over-year acceleration and its 14th consecutive quarter of sequential growth. Kress said the $13.5 billion sequential revenue increase was also a company record. NVIDIA (NASDAQ:NVDA) reported record first-quarter fiscal 2027 results, with revenue, operating income and free cash flow all surpassing prior company highs, as executives said demand for AI infrastructure continued to accelerate across hyperscale cloud providers, AI cloud companies, sovereign customers and enterprise users. The company issued a bullish outlook and expanded shareholder returns , guiding second-quarter revenue to $91 billion, plus or minus 2%, and reaffirming mid-70s gross margins. NVIDIA also announced a higher dividend, an $80 billion share repurchase authorization, and said it plans to return roughly 50% of free cash flow to shareholders this year. Blackwell demand and AI infrastru...
(RTTNews) - The South Korea stock market has finished lower in two straight sessions, tumbling more than 300 points or 4 percent along the way. The KOSPI now sits just above the 7,200-point plateau although it's likely to halt its slide on Thursday. The global forecast for the Asian markets is broadly positive, thanks to sinking crude oil prices and support from the technology sectors. The Europea...
(RTTNews) - The South Korea stock market has finished lower in two straight sessions, tumbling more than 300 points or 4 percent along the way. The KOSPI now sits just above the 7,200-point plateau although it's likely to halt its slide on Thursday. The global forecast for the Asian markets is broadly positive, thanks to sinking crude oil prices and support from the technology sectors. The European and U.S. markets were sharply higher on Wednesday and the Asian bourses are expected to follow that lead. The KOSPI finished modestly lower on Wednesday following losses from the technology, chemical and automobile sectors, while the financial shares were mixed. For the day, the index sank 62.71 points or 0.86 percent to finish at 7,208.95. Volume was 485.9 million shares worth 39.5 trillion won. There were 811 decliners and 90 gainers. Among the actives, Shinhan Financial collected 0.11 percent, while KB Financial sank 0.72 percent, Hana Financial rose 0.26 percent, Samsung Electronics perked 0.18 percent, Samsung SDI stumbled 2.90 percent, LG Electronics plummeted 5.58 percent, Naver crashed 3.33 percent, LG Chem plunged 5.28 percent, Lotte Chemical surrendered 3.66 percent, SK Innovation contracted 3.43 percent, POSCO Holdings cratered 5.33 percent, SK Telecom added 0.41 percent, KEPCO dropped 5.75 percent, Hyundai Mobis jumped 1.90 percent, Hyundai Motor tumbled 1.99 percent, Kia Motors tanked 3.55 percent and SK Hynix was unchanged. The lead from Wall Street is strong as the major averages opened slightly higher on Wednesday but accelerated throughout the day, ending at session highs. The Dow spiked 645.47 points or 1.31 percent to finish at 50,009.35, while the NASDAQ jumped 399.65 points or 1.54 percent to end at 26,270.36 and the S&P 500 climbed79.36 points or 7,432.97. The rally on Wall Street came on a steep drop by treasuries yields, which pulled back sharply, with the yield on the benchmark ten-year note plunging from its highest levels in well over a year. Th...
SpaceX, the aerospace company founded by Elon Musk 24 years ago, has finally made its IPO filing public. And once the company goes public, Musk will be at its center as CEO, CTO, and Chairman of the board. The hefty filing, posted after markets closed Wednesday, shows a company that has developed far beyond its initial pursuit of reusable rockets — although its long-term mission to create a multi-...
SpaceX, the aerospace company founded by Elon Musk 24 years ago, has finally made its IPO filing public. And once the company goes public, Musk will be at its center as CEO, CTO, and Chairman of the board. The hefty filing, posted after markets closed Wednesday, shows a company that has developed far beyond its initial pursuit of reusable rockets — although its long-term mission to create a multi-planetary species remains intact. SpaceX is now a technology conglomerate working on satellites and AI, and has become one of the world’s most valuable private companies. When it goes public later this year on the Nasdaq exchange, it will become one of the most valuable publicly-traded companies. (Nvidia currently holds the crown with a market cap of $5.4 trillion.) SpaceX has chosen the ticker “SPCX” for the listing. The regulatory filing, known as an S-1, offers the most vivid and financially illuminating public dissection of SpaceX’s business to date. And it comes just weeks ahead of what’s expected to be the largest IPO ever, both in terms of potential money raised (expected to be around $75 billion) and overall valuation (reportedly $1.75 trillion). It contains 36 pages of risk factors to SpaceX’s business, and details legal fights it faces following the absorption of Musk’s artificial intelligence and social media companies — battles SpaceX says will likely cost it $530 million. Many of the headline details have been reported in the weeks since SpaceX first submitted a confidential version of its S-1 filing to the Securities and Exchange Commission on April 1. The company lost about $4.9 billion in 2025 on revenue of more than $18 billion, as Reuters reported last month. The filing details a business that is currently dominated by SpaceX’s Starlink satellite internet offering, which generated more than half of the company’s revenue last year — around $11 billion. It also shows how much SpaceX has burned to get to this point: more than $37 billion lost since inception,...
After nearly a quarter of a century operating as a private company, with its financial accounts a closely guarded secret, SpaceX on Wednesday afternoon released a detailed accounting of its business in a nearly 400-page S-1 filing with the US Securities and Exchange Commission. SpaceX, founded in 2002 and still led by Elon Musk, submitted the filing in anticipation of an initial public offering of...
After nearly a quarter of a century operating as a private company, with its financial accounts a closely guarded secret, SpaceX on Wednesday afternoon released a detailed accounting of its business in a nearly 400-page S-1 filing with the US Securities and Exchange Commission. SpaceX, founded in 2002 and still led by Elon Musk, submitted the filing in anticipation of an initial public offering of its stock as soon as June 12. The document revealed no major surprises about the company's space operations, but there was a trove of details about its sprawling operations, which now encompass launch, spaceflight, space-based Internet, and, thanks to its recent acquisition of Musk's xAI, social media and AI. Read full article Comments
Manchester has recorded the biggest fall in inner-city deprivation in Britain, according to a report, as Andy Burnham stakes a claim that he could replicate the city’s revival nationwide. As the frontrunner to replace Keir Starmer, the Greater Manchester mayor has placed the city’s economic performance at the heart of his campaign, describing “Manchesterism” as a political philosophy for a more in...
Manchester has recorded the biggest fall in inner-city deprivation in Britain, according to a report, as Andy Burnham stakes a claim that he could replicate the city’s revival nationwide. As the frontrunner to replace Keir Starmer, the Greater Manchester mayor has placed the city’s economic performance at the heart of his campaign, describing “Manchesterism” as a political philosophy for a more interventionist approach to the economy. As Burnham prepares to fight the Makerfield byelection before an expected leadership challenge against Starmer, the Centre for Cities report said Manchester had made an outsized contribution to falling levels of inner-city deprivation nationwide since 2010. Between 2010 and 2025, Manchester recorded a 17-percentage-point fall in deprivation rates for the neighbourhoods within close proximity to its city centre, the largest fall of 63 UK towns and cities analysed by the thinktank. View image in fullscreen Andy Burnham goes canvassing as he prepares to fight the Makerfield byelection before an expected leadership challenge against Starmer. Photograph: Ryan Jenkinson/Getty In analysis using the indices of multiple deprivation for England, Scotland, Wales and Northern Ireland – benchmarks compiled using data for employment, education, health, crime and other metrics – it found that London and Liverpool had also made significant contributions. For the country at large, the share of inner-city neighbourhoods in the 20% most deprived places in a combined index for all four nations had fallen by seven percentage points, from 38% to 31%. It said the definition “inner city” included all the neighbourhoods immediately adjacent to a place’s centre. For the biggest cities in the report, such as Manchester, this was set by plotting a ring 1.3km from the centre to 4.5km out, where urban neighbourhoods give way to the suburbs. For inner-city Manchester, 58.4% of neighbourhoods in and around the city centre ranked among the most deprived in 2025, down ...
One trading session after Relay Therapeutics (RLAY +7.87%) announced positive results for an investigational treatment, its shares rocketed higher on Wednesday. That rally, which saw the biotech stock rocket almost 8% higher, was aided in no small part by a pair of bullish analyst updates. High-potential pipeline Those new analyses came on the heels of Relay's Tuesday release of Phase 2 results fo...
One trading session after Relay Therapeutics (RLAY +7.87%) announced positive results for an investigational treatment, its shares rocketed higher on Wednesday. That rally, which saw the biotech stock rocket almost 8% higher, was aided in no small part by a pair of bullish analyst updates. High-potential pipeline Those new analyses came on the heels of Relay's Tuesday release of Phase 2 results for zovegalisib, a drug that treats vascular anomalies. The company said that, across all doses of the medication, 60% of tested patients responded to treatment at the earliest time point of 12 weeks. These figures were well above the projections of most analysts tracking the stock. Relay added that nearly all individuals administered the drug experienced symptomatic improvements at the 12-week mark, and that zovegalisib demonstrated a positive safety and tolerability profile. Although this was indisputably a positive development, it was mitigated by the company's announcement that it would float a secondary issue of its common stock. Including a purchase option for the issue's underwriters, the issue could exceed $200 million. Although this isn't overly dilutive given Relay's nearly $2.5 billion market cap, no investor likes share dilution. Expand NASDAQ : RLAY Relay Therapeutics Today's Change ( 7.87 %) $ 0.95 Current Price $ 13.02 Key Data Points Market Cap $2.3B Day's Range $ 11.62 - $ 13.55 52wk Range $ 2.75 - $ 17.32 Volume 6.5M Avg Vol 3.3M Gross Margin 73.28 % Two bulls get more bullish Yet not one, but two professional Relay-watchers felt compelled to significantly raise their price targets on the stock. Barclays' Peter Lawson upped his to $27 per share from $21, while Silvan Turkcan of Citizens JMP moved his to $21 from $19. Both maintained their buy recommendations on the shares. These far better-than-expected results are, in my view, enough reason to invest in the highly promising biotech. I wouldn't worry at all about share dilution, and I'd feel confident owning...
Chery Automobile, China’s largest car exporter by deliveries, expects its overseas sales of electric vehicles (EVs) to jump as much as 27 per cent this year, as a global energy crisis spurs demand for battery-powered vehicles. Zhang Guibing, the president of Chery International, said on Wednesday that pure electric and plug-in hybrid models were projected to represent as much as 70 per cent of the...
Chery Automobile, China’s largest car exporter by deliveries, expects its overseas sales of electric vehicles (EVs) to jump as much as 27 per cent this year, as a global energy crisis spurs demand for battery-powered vehicles. Zhang Guibing, the president of Chery International, said on Wednesday that pure electric and plug-in hybrid models were projected to represent as much as 70 per cent of the carmaker’s total deliveries outside the mainland in 2026. That would equate to roughly 1.05 million units, up from 827,000 EVs in 2025. “Our sales of new-energy vehicles abroad are growing fast,” Zhang said during a media briefing. He noted that the segment would account for 65 to 70 per cent of all overseas sales. “The pace of growth proves to be very impressive.” Advertisement The state-owned carmaker, based in Wuhu, Anhui province, is aiming for total annual sales abroad of 1.5 million units, which would be a year-on-year jump of 12 per cent. Chery has held the title of China’s largest vehicle exporter for 23 consecutive years. It traditionally built its reputation on competitively priced petroleum-powered vehicles – from compact sedans to off-road-capable SUVs – that caught the attention of drivers in markets such as the Middle East, Africa and South America over the past two decades. A woman walks near a Chery Fulwin A9L GT at the Beijing Auto Show on April 25. Photo: AFP However, the auto giant has spent recent years pivoting towards electric mobility, taking advantage of China’s complete supply chain and a general willingness among drivers to embrace new technologies.
Hong Kong’s push into Central Asia aims to strengthen links between mainland China and the region while reinforcing the city’s role as a professional services hub for belt and road countries, although economic gains may take time, analysts have said. They added that Kazakhstan and Uzbekistan, given their strategic positions, were logical destinations for Hong Kong to pursue business opportunities ...
Hong Kong’s push into Central Asia aims to strengthen links between mainland China and the region while reinforcing the city’s role as a professional services hub for belt and road countries, although economic gains may take time, analysts have said. They added that Kazakhstan and Uzbekistan, given their strategic positions, were logical destinations for Hong Kong to pursue business opportunities amid geopolitical uncertainty and the war in the Middle East. Chief Executive John Lee Ka-chiu announced on Tuesday that he would lead his largest delegation to date early next month to Kazakhstan and Uzbekistan to explore new business opportunities in Central Asia. Advertisement Both countries are key partners of the Belt and Road Initiative, Beijing’s plan to grow global trade. The delegation comprised 30 entrepreneurs from Hong Kong and another 30 from the mainland, he said, underscoring the city’s role as a platform to assist companies from over the border in going global. Advertisement Lau Siu-kai, a consultant at Beijing’s semi-official think tank, the Chinese Association of Hong Kong and Macau Studies, said the choice of destinations reflected the city’s priority of aligning with national strategy – serving as a bridge between the mainland and Central Asia and positioning itself as a leading provider of professional services for belt and road countries.