News · Page 3
The latest WallStreetDigest stories: what moved in the markets, why it moved and what it could mean for a household's money.
· Economy & Fed
Equifax cuts revenue outlook as inflation squeezes lower-income households
Equifax beat third-quarter profit estimates but lowered its full-year revenue outlook, warning that inflation is squeezing lower-income Americans and that the U.S. mortgage market remains weak.
· Tech & AI
Salesforce agrees to buy Braze to expand its AI marketing tools
Salesforce agreed Tuesday to buy marketing software maker Braze for cash, adding AI tools that personalize messages to customers. Salesforce shares were little changed after the news.
· Companies
SpaceX rallies after hours as quarterly results top estimates
SpaceX beat analyst forecasts for third-quarter revenue and profit per share, led by its AI computing business, and its shares rose 8.1% in after-hours trading.
· Tech & AI
Super Micro raises its quarterly revenue outlook on AI server demand
Super Micro Computer raised its first-quarter revenue and gross margin forecasts on stronger demand for AI platforms, and its shares surged 15.6% in after-hours trading.
· Earnings
Cleveland-Cliffs rallies after earnings beat and a raised outlook
Cleveland-Cliffs shares surged 16.3% on Monday after the steelmaker beat profit estimates and raised its outlook, even though third-quarter revenue fell short of forecasts.
· Tech & AI
CoreWeave debt stress could spread to wider AI borrowing, expert warns
A credit expert says other AI-linked debt may follow CoreWeave into distress, which could raise borrowing costs for companies that fund data centers with loans.
· Tech & AI
Microsoft walks away from U.K. data center deal over power delays
Microsoft has pulled out of a planned Nscale data center in Essex after reports that the site may lack grid power for years. The move is a sign that electricity could limit AI expansion.
· Tech & AI
OpenAI speeds up fundraising ahead of Anthropic's expected market debut
OpenAI is rushing to secure investor commitments before rival Anthropic's expected stock market debut, according to reports. The contest could shape how investors value AI developers.
· Companies
Silence Therapeutics rallies on Merck KGaA cash takeover deal
Germany's Merck KGaA agreed to buy Silence Therapeutics for cash, and the London biotech's shares surged 125.6% on Monday to close near the offer price.
· Companies
SpaceX shares rise as Musk pledges stock to U.S. children
SpaceX shares gained on Monday after Elon Musk said he plans to give stock to U.S. children in 2027, just as insiders become free to sell their own shares.
· Tech & AI
Alphabet rises 1.1% as tech shares lead a quiet Monday
Alphabet shares rose 1.1% as tech stocks led the Nasdaq-100 higher. TeraWulf's chief executive said Google backs its data centers, a sign AI spending may reach smaller suppliers.
· Tech & AI
ChangXin Memory reports progress on a denser memory chip design
Chinese memory maker ChangXin reported progress on a denser DRAM chip design. Micron and SK Hynix shares fell on worries about future price competition and supply.
· Companies
Coca-Cola jumps after winning KFC's U.S. drinks deal
Coca-Cola shares jumped 2.1% to a 52-week high after KFC chose the company as its U.S. drinks supplier, ending a decades-long partnership with PepsiCo.
· Tech & AI
Disney hires Character.AI staff as the startup's parent seeks bankruptcy protection
Disney plans to pay for talent from Character.AI, whose parent company has sought bankruptcy protection. The step follows the entertainment group's own job cuts.
· Companies
Eli Lilly rises after European panel backs weight-loss pill
Eli Lilly shares rose 0.4% on Friday after a European Medicines Agency committee recommended approval of Foundayo, the company's GLP-1 pill for diabetes and weight management.
· Energy & Commodities
Energy shares jump as crude oil prices climb
Energy stocks gained on Friday as crude oil prices rose. The broad market fell. Citizens Financial beat profit estimates, but its shares edged lower.
· Tech & AI
Nasdaq-100 slides as AI debt worries hit chip and cloud stocks
The Nasdaq-100 slid 2.5% on Friday as worries over AI infrastructure debt hit chip and cloud stocks. The Fed chair kept an October rate increase on the table.
· Tech & AI
Taiwan Semiconductor reports record profit on strong AI chip demand
Taiwan Semiconductor posted a record profit on demand for AI chips, yet its shares slid 2.3% on Friday as worries about AI spending weighed on technology stocks.
· Markets
Can Meta Platforms' results steady technology shares after a bruising week?
Meta Platforms reports quarterly results on Wednesday, Oct. 21, after a week in which its shares slid and technology stocks fell broadly. Its outlook could reach many index funds.
