News · Page 4
The latest WallStreetDigest stories: what moved in the markets, why it moved and what it could mean for a household's money.
· Tech & AI
Chip stocks extend losing streak as CoreWeave credit concerns mount
Chip stocks kept falling this week. Worries about CoreWeave's debt and higher borrowing costs led investors to ask who will pay for the AI buildout, according to reports.
· Tech & AI
Anthropic opens talks with New York City comptroller after call for IPO delay
Anthropic chief executive Dario Amodei has opened talks with New York City Comptroller Mark Levine. Levine urged the AI company to delay its potential IPO over safety and governance concerns.
· Markets
Dell leads an AI-hardware retreat as a downgrade and inflation data weigh
Dell Technologies tumbled 22.9% this week after a Barclays downgrade. Hotter wholesale inflation also lifted Fed rate-hike bets that weighed on chip and AI-hardware stocks.
· Tech & AI
Nvidia slips 1.4% on claims it pressured smaller cloud firms
Nvidia shares slid 1.4% after research firm SemiAnalysis said smaller cloud providers were kept out of an Nvidia event for adding rival chips. The claim concerns how the chipmaker treats its customers.
· Tech & AI
Apple reportedly plans a limited Apple Intelligence launch in China
Apple plans to bring a smaller version of its AI features to Chinese iPhones in December, according to reports. It would leave out AI-powered Siri, which could limit any lift to iPhone demand there.
· Companies
Charles Schwab slides as revenue lands just short of forecasts
Charles Schwab shares slid 2.7% after third-quarter profit beat estimates but revenue landed just under forecasts, a narrow miss that outweighed record client inflows on the day.
· Economy & Fed
Dell tumbles as hot producer prices lift Fed hike bets
Dell shares and chip stocks fell after September producer prices rose faster than economists expected, lifting bets on a Federal Reserve rate hike. The Dow gained as money moved to steadier companies.
· Tech & AI
Nvidia chief says new chip orders keep arriving despite tech selloff
Nvidia chief Jensen Huang said fresh chip orders arrive nearly every day, a sign that AI spending may hold up. Tech stocks still lost ground this week.
· Companies
Prologis slides after rental revenue misses estimates
Prologis shares slid 2.7% after the warehouse owner's third-quarter rental revenue missed estimates. A key profit measure beat forecasts, and the company narrowed its full-year outlook.
· Tech & AI
Taiwan Semiconductor slides despite strong quarterly results on AI chip demand
Taiwan Semiconductor's shares slid 1.8% after a quarter that topped its own forecast. Its chief executive flagged heavier factory spending that may weigh on margins before new plants pay off.
· Tech & AI
Venture Global signs GE Vernova and Baker Hughes deals to power AI data centers
Venture Global lined up power generation units from GE Vernova and Baker Hughes for a private network that could feed its AI computing sites. Its shares tumbled 5.8% on Thursday.
· Tech & AI
Nvidia falls 1.8% despite Huang saying chip orders outpace supply
Nvidia shares slid 1.8% as worries about debt-funded AI spending weighed on chip stocks, even though chief executive Jensen Huang said orders keep outrunning supply.
· Companies
Bank of America tumbles after settlement charge dents quarterly profit
Bank of America shares tumbled 4.8% on Wednesday after a regulatory settlement charge and softer investment banking fees left third-quarter revenue and adjusted profit below analyst forecasts.
· Economy & Fed
Consumer inflation runs hotter than forecast, keeping Fed hike bets alive
Consumer prices rose faster than economists forecast in September, led by gasoline, keeping another Fed rate hike in play before the Oct. 28 decision and pushing stocks lower.
· Tech & AI
Dell tumbles after Barclays downgrade cites stretched valuation
Dell Technologies shares tumbled 11.3% after Barclays downgraded the stock to Equal-Weight, citing a stretched valuation following a strong run built on demand for AI servers.
· Companies
Fastenal rises after quarterly profit and sales top estimates
Fastenal shares recovered from an early drop after third-quarter profit and sales beat analyst estimates, though thinner gross margins and a lower device target tempered the report.
· Tech & AI
Applied Materials tumbles after China's CXMT reports memory chip progress
Applied Materials tumbled 6.7% on Tuesday after Chinese memory maker CXMT reported progress on a denser memory-cell design, raising competition worries across chip stocks.
· Companies
Johnson & Johnson shares fall despite beating estimates and raising outlook
Johnson & Johnson shares tumbled after the drugmaker beat quarterly forecasts and raised its full-year outlook. Profit per share still fell from a year earlier, and some products lost ground.
· Companies
JPMorgan falls as slower dealmaking leads to a profit miss
JPMorgan Chase shares fell after the bank missed third-quarter profit and revenue forecasts. The bank cited slower dealmaking and weaker bond trading. Its chief executive warned about inflation and rates.
· Your Money
Money market funds draw their biggest weekly inflow since April 2020
Savers moved cash into money market funds at the fastest weekly pace since April 2020. A bond sell-off and inflation worries pushed buyers toward short-term government debt.
