IREN stock jumped over 4%, mirroring gains at other neocloud companies like CoreWeave and Nebius following strong Nvidia earnings and guidance. Shares climbed to $43.25, but this rally will be put to the test when the company publishes its own earnings later today. IREN’s revenue to drop on Bitcoin sell-off as pivot to AI continues
Memory stocks fell on Thursday despite Nvidia’s strong earnings and outlook supporting the broader technology sector. Micron Technology MU declined 2%, while SanDisk fell 1.7% and Western Digital dropped 2.7% as investors appeared to weigh company-specific factors alongside the continued strength in artificial intelligence demand. Nvidia reported fiscal second-quarter revenue of $96.22 billion, up 106%
Okta Inc (OKTA) shares climbed to a new year-to-date high on Thursday morning after the identity security company posted a blockbuster Q2 and raised its guidance for the full year. The upbeat release prompted a fresh wave of bullish analyst calls, with RBC raising its price target for OKTA to $195 and Citizens lifting it
Strategy Inc. MSTR (formerly known as Microstrategy) shares rose more than 12% on Thursday as Bitcoin broke above the $80,000 level, lifting investor sentiment toward the company, which is often viewed as a leveraged equity proxy for the cryptocurrency because of its large Bitcoin holdings. The Nasdaq Composite was up 1.5%, while the S&P 500
Nvidia (NVDA) shares ripped higher on Thursday morning after the AI behemoth reported market-beating financials for its fiscal Q2 and issued remarkable guidance for its current quarter. Yet, famed investor Michael Burry – known for accurately predicting the 2008 housing collapse – is urging investors to practice caution in playing NVDA at current levels. Despite
Novo Nordisk shares fell on Thursday after Deutsche Bank downgraded the Danish drugmaker to Sell from Hold and lowered its price target, citing concerns over the company’s growth prospects. The company’s US shares declined about 2% in trading, with Deutsche Bank cutting its target to 265 Danish kroner from 290 kroner. The downgrade adds to
Global markets were shaped by developments across artificial intelligence, cryptocurrencies and commodities on Thursday, with OpenAI and Anthropic urging governments and businesses to strengthen defenses against AI-enabled cyberattacks. Bitcoin climbed back above $80,000 as renewed ETF demand and stronger risk appetite supported its rebound. Oil prices rose as hopes for renewed US-Iran negotiations faded and
US stocks ended higher on Thursday, with the Nasdaq Composite outperforming the broader market as Nvidia’s strong revenue outlook boosted technology and semiconductor shares. Investors also looked ahead to Federal Reserve Chair Kevin Warsh’s upcoming Jackson Hole speech amid renewed concerns over inflation and interest rates. Nvidia earnings lift technology stocks The Nasdaq Composite gained
US consumer prices rose slightly in July, with the Federal Reserve’s preferred inflation gauge showing that price pressures remain elevated as policymakers weigh the next move on interest rates. The personal consumption expenditures price index increased 0.2% on a seasonally adjusted monthly basis, while the annual inflation rate reached 3.7%, according to the Commerce Department.
The S&P 500 was little changed Wednesday after the latest inflation data showed price pressures remain elevated. The broad-market index rose 0.1%, while the Nasdaq Composite traded around the flatline. The Dow Jones Industrial Average gained 53 points, or 0.1%. Inflation remains above Fed target The personal consumption expenditures price index, the Federal Reserve’s preferred