MaxLinear's Web-Smart 2.5G Ethernet Switch SoCs Power HiSource Smart PoE Switches
Smart Ethernet switches simplify network management with user-friendly web interfaces and remote access, allowing administrators to easily configure and monitor network settings. Switch designers utilize the on-board processor in the MxL86282S to power these added smart features.
'We've integrated CPUs into our 2.5G Ethernet switches to empower our partners to develop smart Ethernet switches with enhanced performance and advanced features sets,' said Vikas Choudhary, Vice President of Connectivity and Storage business at MaxLinear. 'By handling data processing tasks directly within the switch, we reduce latency and improve overall network performance.'
'We've incorporated MaxLinear's Web-Smart 2.5G Ethernet Switch SoCs into our next-generation PoE switches,' said Jack Mao, Chief Executive Officer at HiSource. 'The integrated CPUs, 2.5G PHYs, and advanced features of these SoCs allow us to provide our customers with high-performance, reliable, and easy-to-manage networking solutions.'
MxL86282S Key Features and Benefits:
Highly Integrated: Eight integrated Ethernet 2.5GBASE-T PHYs that support four data rates: 2500, 1000, 100, and 10Mbps. Two optional 10G SERDES uplink ports that provide additional flexibility for network configurations. And one integrated CPU to enable web-smart applications.
Low Power Consumption: Under 700mW per PHY. Supports the Energy-Efficient Ethernet (EEE) feature to reduce idle mode power consumption. Offers additional power savings modes for short cables, through EEE, and no-link detection. Power saving at the system level is also possible with the wake-on-LAN (WoL) feature.
Switching Performance: Unblocking wire-speed switching between all ports to support all ports at full rate without packet loss.
Future-Proof Features: A programmable packet parser and a powerful classification engine allow future-proof designs that enable various data traffic types. The MxL86282S supports IPv4 and IPv6, HTTPS security, IGMPv1/IGMPv2/IGMPv3 multicast forwarding, and MLDv1/MLDv2 snooping.
Advanced Features: Include: VLAN, QinQ, QoS, loop detection, ACL, and traffic shaping.
The MxL86282S and MxL86252S are available now in RoHS compliant, green/halogen free 12mm x 12mm BGA packages. Visit MxL86252S and MxL86282S for additional information or to request samples.
For more information on MaxLinear's Ethernet switches:
About MaxLinear, Inc.
MaxLinear, Inc. (Nasdaq: MXL) is a leading provider of radio frequency (RF), analog, digital, and mixed-signal integrated circuits for access and connectivity, wired and wireless infrastructure, and industrial and multimarket applications. MaxLinear is headquartered in Carlsbad, California. For more information, please visit https://www.maxlinear.com/.
Cautionary Note About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning or implying future financial performance, statements relating to MaxLinear's ethernet switch products and the functionality, performance, benefits, and market opportunity for such products, statements by our Vice President of Connectivity and Storage business and statements by the Chief Executive Officer of HiSource. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements and our future financial performance and operating results forecasts generally. Forward-looking statements are based on management's current, preliminary expectations and are subject to various risks and uncertainties. In particular, our future operating results are substantially dependent on our assumptions about market trends and conditions. Additional risks and uncertainties affecting our business, future operating results and financial condition include, without limitation; risks relating to the development, testing, and commercial introduction of new products and product functionalities; risks relating to our relationship with HiSource; risks relating to our terminated merger with Silicon Motion and related arbitration and class action complaint and the risks related to potential payment of damages; the effect of intense and increasing competition; increased tariffs, export controls or imposition of other trade barriers; impacts of global economic conditions; the cyclical nature of the semiconductor industry; a significant variance in our operating results and impact on volatility in our stock price, and our ability to sustain our current level of revenue, which has previously declined, and/or manage future growth effectively, and the impact of excess inventory in the channel on our customers' expected demand for certain of our products and on our revenue; escalating trade wars, military conflicts and other geopolitical and economic tensions among the countries in which we conduct business; our ability to obtain or retain government authorization to export certain of our products or technology; risks related to the loss of, or a significant reduction in orders from major customers; costs of legal proceedings or potential violations of regulations; information technology failures; a decrease in the average selling prices of our products; failure to penetrate new applications and markets; development delays and consolidation trends in our industry; inability to make substantial research and development investments; delays or expenses caused by undetected defects or bugs in our products; substantial quarterly and annual fluctuations in our revenue and operating results; failure to timely develop and introduce new or enhanced products; order and shipment uncertainties; failure to accurately predict our future revenue and appropriately budget expenses; lengthy and expensive customer qualification processes; customer product plan cancellations; failure to maintain compliance with government regulations; failure to attract and retain qualified personnel; any adverse impact of rising interest rates on us, our customers, and our distributors and related demand; risks related to compliance with privacy, data protection and cybersecurity laws and regulations; risks related to conforming our products to industry standards; risks related to business acquisitions and investments; claims of intellectual property infringement; our ability to protect our intellectual property; risks related to security vulnerabilities of our products; use of open source software in our products; and failure to manage our relationships with, or negative impacts from, third parties.
In addition to these risks and uncertainties, investors should review the risks and uncertainties contained in our filings with the Securities and Exchange Commission, including our Current Reports on Form 8-K, as well as the information to be set forth under the caption "Risk Factors" in MaxLinear's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. All forward-looking statements are based on the estimates, projections and assumptions of management as of the date of this press release, and MaxLinear is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
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The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: I don't hate this Cisco quarter Cisco (CSCO) is always a tricky play around its earnings report. The company isn't a fast grower, and what the Street focuses on tends to shift from quarter to quarter. Sometimes it's profit margins, sometimes it's product orders, sometimes it's the outlook. Going through the latest, I don't hate the quarter and outlook. Gross margins were up across the board, and the AI narrative and numbers were solid as well. There was some weakness in the security business, as expected, but the demand drivers out there suggest new full-year guidance could be conservative. "We think investors should look past Public Sector weakness, which likely hurt Security growth, given the opportunity around Hyperscaler/Enterprise AI, Neoclouds, and Sovereign could quickly offset the weakness. We continue to like Cisco for these drivers of growth, and when paired with a mix shift toward software/subscription over time, healthy free cash flow growth, and shareholder returns, we believe a premium to historical valuations is warranted," KeyBanc analyst Brandon Nispel said. I am live on Opening Bid today around 9:40 a.m. ET with Cisco's new CFO Mark Patterson. So we'll get to pull apart the numbers and guidance further! Cisco (CSCO) is always a tricky play around its earnings report. The company isn't a fast grower, and what the Street focuses on tends to shift from quarter to quarter. Sometimes it's profit margins, sometimes it's product orders, sometimes it's the outlook. Going through the latest, I don't hate the quarter and outlook. Gross margins were up across the board, and the AI narrative and numbers were solid as well. There was some weakness in the security business, as expected, but the demand drivers out there suggest new full-year guidance could be conservative. "We think investors should look past Public Sector weakness, which likely hurt Security growth, given the opportunity around Hyperscaler/Enterprise AI, Neoclouds, and Sovereign could quickly offset the weakness. We continue to like Cisco for these drivers of growth, and when paired with a mix shift toward software/subscription over time, healthy free cash flow growth, and shareholder returns, we believe a premium to historical valuations is warranted," KeyBanc analyst Brandon Nispel said. I am live on Opening Bid today around 9:40 a.m. ET with Cisco's new CFO Mark Patterson. So we'll get to pull apart the numbers and guidance further! Bullish stock rises to $75 after IPO debut Yahoo Finance's breaking news reporter Jake Conley looks into the Bullish (BLSH) stock market debut. Cryptocurrency exchange operator Bullish (BLSH) rose 8% on Thursday before the bell, reaching $75, doubling its IPO price of $37 and valuing the company at more than $10 billion. Still, this marked around a 16% drop from where the stock opened for trade. Bullish stock opened for trade at $90 near 1:00 p.m. ET on Wednesday, and the stock traded hands as high as $118 per share shortly after, a more than 215% gain. The stock was halted for trade due to volatility at least twice within the first few minutes of trading. The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut. Bullish began its IPO processes looking for a price between $28 to $31 per share. At 30 million shares offered, the IPO price saw Bullish raise $1.1 billion and value the fintech company at $5.41 billion. Bullish first attempted to go public via a SPAC merger in 2021 that would have valued the company at $9 billion, but the deal fell through after regulatory scrutiny and Bullish withdrew its registration. Read more here Yahoo Finance's breaking news reporter Jake Conley looks into the Bullish (BLSH) stock market debut. Cryptocurrency exchange operator Bullish (BLSH) rose 8% on Thursday before the bell, reaching $75, doubling its IPO price of $37 and valuing the company at more than $10 billion. Still, this marked around a 16% drop from where the stock opened for trade. Bullish stock opened for trade at $90 near 1:00 p.m. ET on Wednesday, and the stock traded hands as high as $118 per share shortly after, a more than 215% gain. The stock was halted for trade due to volatility at least twice within the first few minutes of trading. The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut. Bullish began its IPO processes looking for a price between $28 to $31 per share. At 30 million shares offered, the IPO price saw Bullish raise $1.1 billion and value the fintech company at $5.41 billion. Bullish first attempted to go public via a SPAC merger in 2021 that would have valued the company at $9 billion, but the deal fell through after regulatory scrutiny and Bullish withdrew its registration. Read more here Nvidia partner Foxconn profit jumps after AI spending rises Foxconn, also known as Hon Hai Precision Industry Co., ( HNHPF, HNHAF) said on Thursday it expects higher third-quarter revenue due to robust demand for its artificial intelligence servers, which has helped the world's largest contract electronics maker beat forecasts and see a 27% increase in second-quarter profit. Reuters reports: Read more here. Foxconn, also known as Hon Hai Precision Industry Co., ( HNHPF, HNHAF) said on Thursday it expects higher third-quarter revenue due to robust demand for its artificial intelligence servers, which has helped the world's largest contract electronics maker beat forecasts and see a 27% increase in second-quarter profit. Reuters reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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17 minutes ago
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Stock market today: Dow, S&P 500, Nasdaq slip after PPI inflation comes in much hotter than expected
US stocks fell on Thursday as Wall Street digested a much hotter-than-expected PPI inflation print, souring optimism around a large September rate cut. The Dow Jones Industrial Average (^DJI) slipped 0.2%, while the benchmark S&P 500 (^GSPC) fell nearly 0.2%. The tech-heavy Nasdaq Composite (^IXIC) lost more than 0.1%. July's Producer Price Index (PPI) came in much hotter than expected, with month-over-month prices rising 0.9% compared to expectations of 0.2%. On an annual basis, prices rose 3.3%, the most since February. "Core" producer prices, which strip out the cost of food and energy, saw the largest increase in three years. The inflation shock looked set to sap the enthusiasm of a roaring market this week. Stocks extended their rally Wednesday, pushing the S&P 500 and Nasdaq to consecutive record highs. Bitcoin got a boost from mounting rate-cut bets, too, reaching a new record high Wednesday evening before scaling back on those gains. Euphoria over a possible September rate cut had swept Wall Street over the past two sessions after July's Consumer Price Index report showed inflation rose as expected, but not dramatically. Traders had fully priced in a rate cut at the Fed's next meeting, even as some Fed policymakers continue to urge patience. On Thursday morning, investors had once again shifted some bets to a rate hold next month. Friday's retail sales reading will serve as this week's final economic data point. In corporate news, cryptocurrency exchange operator Bullish (BLSH) rose over 7% on Thursday, hovering around $75, more than double its IPO price of $37. stock continues freefall after 'brutal' preliminary financial results stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex said in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO Tom Siebel for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes. In 2023, short selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms including Oppenheimer and DA Davidson have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," wrote Dan Ives in a note to clients Monday. America's favorite office lunch spots are having a challenging summer Yahoo Finance's Brooke DiPalma reports: Read more here. Stocks fall at the open after latest inflation data shows rising producer prices US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. Wholesale inflation rises more than expected in July The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. September rate hold? Investors say it's (sort of) back on the table Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Trending tickers in premarket trading: Bullish, Deere, Cisco Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Bitcoin, ethereum trade near record highs as Wall Street grows bullish on crypto Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Stocks may be at all-time highs, but speculative froth isn't Yahoo Finance's Hamza Shaban reports: Read more here. Good morning. Here's what's happening today. Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Amazon grocery push stocks still in focus When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: I don't hate this Cisco quarter Cisco (CSCO) is always a tricky play around its earnings report. The company isn't a fast grower, and what the Street focuses on tends to shift from quarter to quarter. Sometimes it's profit margins, sometimes it's product orders, sometimes it's the outlook. Going through the latest, I don't hate the quarter and outlook. Gross margins were up across the board, and the AI narrative and numbers were solid as well. There was some weakness in the security business, as expected, but the demand drivers out there suggest new full-year guidance could be conservative. "We think investors should look past Public Sector weakness, which likely hurt Security growth, given the opportunity around Hyperscaler/Enterprise AI, Neoclouds, and Sovereign could quickly offset the weakness. We continue to like Cisco for these drivers of growth, and when paired with a mix shift toward software/subscription over time, healthy free cash flow growth, and shareholder returns, we believe a premium to historical valuations is warranted," KeyBanc analyst Brandon Nispel said. I am live on Opening Bid today around 9:40 a.m. ET with Cisco's new CFO Mark Patterson. So we'll get to pull apart the numbers and guidance further! Bullish stock rises to $75 after IPO debut Yahoo Finance's breaking news reporter Jake Conley looks into the Bullish (BLSH) stock market debut. Cryptocurrency exchange operator Bullish (BLSH) rose 8% on Thursday before the bell, reaching $75, doubling its IPO price of $37 and valuing the company at more than $10 billion. Still, this marked around a 16% drop from where the stock opened for trade. Bullish stock opened for trade at $90 near 1:00 p.m. ET on Wednesday, and the stock traded hands as high as $118 per share shortly after, a more than 215% gain. The stock was halted for trade due to volatility at least twice within the first few minutes of trading. The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut. Bullish began its IPO processes looking for a price between $28 to $31 per share. At 30 million shares offered, the IPO price saw Bullish raise $1.1 billion and value the fintech company at $5.41 billion. Bullish first attempted to go public via a SPAC merger in 2021 that would have valued the company at $9 billion, but the deal fell through after regulatory scrutiny and Bullish withdrew its registration. Read more here Nvidia partner Foxconn profit jumps after AI spending rises Foxconn, also known as Hon Hai Precision Industry Co., ( HNHPF, HNHAF) said on Thursday it expects higher third-quarter revenue due to robust demand for its artificial intelligence servers, which has helped the world's largest contract electronics maker beat forecasts and see a 27% increase in second-quarter profit. Reuters reports: Read more here. stock continues freefall after 'brutal' preliminary financial results stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex said in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO Tom Siebel for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes. In 2023, short selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms including Oppenheimer and DA Davidson have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," wrote Dan Ives in a note to clients Monday. stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex said in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO Tom Siebel for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes. In 2023, short selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms including Oppenheimer and DA Davidson have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," wrote Dan Ives in a note to clients Monday. America's favorite office lunch spots are having a challenging summer Yahoo Finance's Brooke DiPalma reports: Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. Stocks fall at the open after latest inflation data shows rising producer prices US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. Wholesale inflation rises more than expected in July The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. September rate hold? Investors say it's (sort of) back on the table Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Trending tickers in premarket trading: Bullish, Deere, Cisco Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Bitcoin, ethereum trade near record highs as Wall Street grows bullish on crypto Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Stocks may be at all-time highs, but speculative froth isn't Yahoo Finance's Hamza Shaban reports: Read more here. Yahoo Finance's Hamza Shaban reports: Read more here. Good morning. Here's what's happening today. Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Amazon grocery push stocks still in focus When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: I don't hate this Cisco quarter Cisco (CSCO) is always a tricky play around its earnings report. The company isn't a fast grower, and what the Street focuses on tends to shift from quarter to quarter. Sometimes it's profit margins, sometimes it's product orders, sometimes it's the outlook. Going through the latest, I don't hate the quarter and outlook. Gross margins were up across the board, and the AI narrative and numbers were solid as well. There was some weakness in the security business, as expected, but the demand drivers out there suggest new full-year guidance could be conservative. "We think investors should look past Public Sector weakness, which likely hurt Security growth, given the opportunity around Hyperscaler/Enterprise AI, Neoclouds, and Sovereign could quickly offset the weakness. We continue to like Cisco for these drivers of growth, and when paired with a mix shift toward software/subscription over time, healthy free cash flow growth, and shareholder returns, we believe a premium to historical valuations is warranted," KeyBanc analyst Brandon Nispel said. I am live on Opening Bid today around 9:40 a.m. ET with Cisco's new CFO Mark Patterson. So we'll get to pull apart the numbers and guidance further! Cisco (CSCO) is always a tricky play around its earnings report. The company isn't a fast grower, and what the Street focuses on tends to shift from quarter to quarter. Sometimes it's profit margins, sometimes it's product orders, sometimes it's the outlook. Going through the latest, I don't hate the quarter and outlook. Gross margins were up across the board, and the AI narrative and numbers were solid as well. There was some weakness in the security business, as expected, but the demand drivers out there suggest new full-year guidance could be conservative. "We think investors should look past Public Sector weakness, which likely hurt Security growth, given the opportunity around Hyperscaler/Enterprise AI, Neoclouds, and Sovereign could quickly offset the weakness. We continue to like Cisco for these drivers of growth, and when paired with a mix shift toward software/subscription over time, healthy free cash flow growth, and shareholder returns, we believe a premium to historical valuations is warranted," KeyBanc analyst Brandon Nispel said. I am live on Opening Bid today around 9:40 a.m. ET with Cisco's new CFO Mark Patterson. So we'll get to pull apart the numbers and guidance further! Bullish stock rises to $75 after IPO debut Yahoo Finance's breaking news reporter Jake Conley looks into the Bullish (BLSH) stock market debut. Cryptocurrency exchange operator Bullish (BLSH) rose 8% on Thursday before the bell, reaching $75, doubling its IPO price of $37 and valuing the company at more than $10 billion. Still, this marked around a 16% drop from where the stock opened for trade. Bullish stock opened for trade at $90 near 1:00 p.m. ET on Wednesday, and the stock traded hands as high as $118 per share shortly after, a more than 215% gain. The stock was halted for trade due to volatility at least twice within the first few minutes of trading. The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut. Bullish began its IPO processes looking for a price between $28 to $31 per share. At 30 million shares offered, the IPO price saw Bullish raise $1.1 billion and value the fintech company at $5.41 billion. Bullish first attempted to go public via a SPAC merger in 2021 that would have valued the company at $9 billion, but the deal fell through after regulatory scrutiny and Bullish withdrew its registration. Read more here Yahoo Finance's breaking news reporter Jake Conley looks into the Bullish (BLSH) stock market debut. Cryptocurrency exchange operator Bullish (BLSH) rose 8% on Thursday before the bell, reaching $75, doubling its IPO price of $37 and valuing the company at more than $10 billion. Still, this marked around a 16% drop from where the stock opened for trade. Bullish stock opened for trade at $90 near 1:00 p.m. ET on Wednesday, and the stock traded hands as high as $118 per share shortly after, a more than 215% gain. The stock was halted for trade due to volatility at least twice within the first few minutes of trading. The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut. Bullish began its IPO processes looking for a price between $28 to $31 per share. At 30 million shares offered, the IPO price saw Bullish raise $1.1 billion and value the fintech company at $5.41 billion. Bullish first attempted to go public via a SPAC merger in 2021 that would have valued the company at $9 billion, but the deal fell through after regulatory scrutiny and Bullish withdrew its registration. Read more here Nvidia partner Foxconn profit jumps after AI spending rises Foxconn, also known as Hon Hai Precision Industry Co., ( HNHPF, HNHAF) said on Thursday it expects higher third-quarter revenue due to robust demand for its artificial intelligence servers, which has helped the world's largest contract electronics maker beat forecasts and see a 27% increase in second-quarter profit. Reuters reports: Read more here. Foxconn, also known as Hon Hai Precision Industry Co., ( HNHPF, HNHAF) said on Thursday it expects higher third-quarter revenue due to robust demand for its artificial intelligence servers, which has helped the world's largest contract electronics maker beat forecasts and see a 27% increase in second-quarter profit. Reuters reports: Read more here.
