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Yahoo
22 minutes ago
- Yahoo
US Roasters Shun Coffee From Brazil After 50% Tariffs Kick In
(Bloomberg) -- American coffee buyers are shunning fresh deals with top grower Brazil after President Donald Trump's 50% tariff took effect this month. Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A Photographer's Pipe Dream: Capturing New York's Vast Water System A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Why New York City Has a Fleet of New EVs From a Dead Carmaker Princeton Plans New Budget Cuts as Pressure From Trump Builds Companies are avoiding new contracts and looking for wiggle room in existing ones to avoid having to pay the higher levies, according to a dozen brokers, roasters and exporters contacted by Bloomberg. Some US buyers are asking for extended shipping timelines in the hopes that tariffs may be eased later, according to Brazil's exporter group Cecafé. Deals between the US and Brazil have 'totally stalled,' said coffee broker Thiago Cazarini. 'No one's really buying anything.' About a third of America's unroasted coffee typically comes from Brazil, a country Trump has been immersed in a trade conflict with, in part due to what he calls the 'politically motivated persecution' of former Brazilian President Jair Bolsonaro. A political ally of Trump's, Bolsonaro faces trial for an attempted coup against the government of President Luiz Inácio Lula da Silva, who defeated Bolsonaro in a 2022 election. Trump first announced 10% tariffs on Brazil and other countries in April, before imposing 50% levies on the South American agricultural power that kicked in on Aug. 6. One roaster, Florida-based Zaza Coffee, gets about a quarter of its beans from Brazil and currently has 14 to 16 weeks left of those supplies. After the beans are used up, the company is looking to replace them with coffee from Central America, Peru and Mexico, said JP Juarez, Zaza's director of coffee innovation. 'We have a certain window within this 14 weeks that maybe something can change in the case of the tariffs,' Juarez said. But 'in the scenario of keeping the tariffs at those levels, probably we are not going to ask for Brazilian coffee.' Many roasters are reluctant to change longstanding blends on what could turn out to be a short-term policy. The country's dominant share makes its beans nearly irreplaceable, with few alternative origins able to match its volumes, according to Christian Wolthers, chief executive officer of Florida-based importer Wolthers Douqué. Roasters may also not want to alter the profile of the blends customers are accustomed to. Brazil is the world's top exporter of arabica, which is considered smoother than robusta and is the only bean used by coffeehouse chain Starbucks Corp. 'Roasters have blends that they like to keep as consistent as they can in any given cost environment,' Rabobank analyst Jim Watson said. Even so, coffee trade between the US and Brazil may continue to slow, in line with a trend seen so far this year. The Cuban-style coffee brand Café Aroma is among the roasters 'working to import coffees where the applicable tariff has more predictability,' vice president Bernadette Gerrity said. It's also buying more coffee futures to help protect against higher costs. Colombia, Vietnam and Honduras are the next biggest sources of coffee for the US in terms of quantity, according to the Department of Agriculture. Vietnam primarily produces robusta, a cheaper variety that most Americans only know from instant coffee. US imports of those beans could climb to 'historical highs' as tariffs on the nation are only 20%, according to Laleska Moda, market intelligence analyst at Hedgepoint Global Markets. The US could also boost imports from Indonesia and Uganda, which have substantially lower tariffs than Brazil, she said. Limited offers for Honduran coffee are already priced 30 to 40 cents per pound above the futures market, while Colombian exporters haven't been offering prices at all in case the market surges later, said Tomas Araujo, a senior trader at StoneX. A shift away from Brazilian beans in the US would likely divert more of those supplies to Europe, offering relief for buyers there that are seeking traceable beans to comply with the bloc's upcoming deforestation rules, according to Dave Behrends, head of trading at Sucafina SA. More beans would also go to the growing coffee market in China, leaving US roasters facing a pricier market. While New York-based Gregorys Coffee is lucky to have had its last shipment from Brazil arrive on Aug. 2 before the higher tariffs kicked in — leaving it supplied until mid-November — it will eventually need to import another batch it already contracted at the higher rate, said CEO Gregory Zamfotis. The company, as well as other smaller roasters, are bracing for the impact. 'Absorbing a 10% tariff is nearly impossible for a small business to do entirely on its own,' said Daria Whalen, the director of coffee at San Francisco-based Ritual Coffee Roasters. 'Some of that has to be passed to customers — and 50% feels staggering and insurmountable.' --With assistance from Anuradha Raghu. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Yosemite Employee Fired After Flying Trans Pride Flag ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
22 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq mixed as Home Depot leads out big retail earnings
US stocks traded mixed on Tuesday as Home Depot (HD) led out this week's results from retail giants, watched for signs of tariff-induced stress as Wall Street weighs the odds of interest rate cuts. The Dow Jones Industrial Average (^DJI) gained 0.5%, while the S&P 500 (^GSPC) edged up 0.1%. The tech-heavy Nasdaq Composite (^IXIC) declined 0.3%, continuing a muted start to the week for the major gauges. A steady march of earnings reports from retail giants began with Home Depot's (HD) second quarter results before the bell, slightly missing Wall Street's estimates. But shares of the company jumped as Tuesday's report marked its return to consistent same-store sales growth in the US amid signs that a prolonged slump in the US housing market is starting to thaw. Target (TGT) will post its earnings results on Wednesday, followed by Walmart (WMT) on Thursday. Taken together, the group's results will provide insight into how companies and consumers are faring as Trump's tariffs kick in. Read more: The latest on Trump's tariffs In the tech world, Intel (INTC) stock got a boost after SoftBank said it will take a $2 billion stake in the chipmaker, which is in the middle of a turnaround bid. That lifeline followed a Bloomberg report that the Trump administration is looking to take a 10% stake in the struggling company. In the broader markets, investors are counting down to Friday, when Federal Reserve Chair Jerome Powell will deliver remarks at the Jackson Hole symposium in Wyoming. The event often signals the latest in central bank policymakers' views on interest rates, and Powell's speech could be his last as Fed chair. Clues as to what may come next at the Fed's September policy meeting will be in focus as stubborn inflation and a faltering job market make officials' next move a particularly tricky one. Meanwhile, President Trump continued to press for further Ukraine talks, reportedly asking Russian President Vladimir Putin to meet with Volodymyr Zelensky. European leaders rallied around the Ukrainian president at his meeting with Trump on Monday, but markets hit pause as uncertainty loomed over his country's fate. Opendoor stock climbs as CEO search continues Opendoor Technologies (OPEN) stock rallied 6% at the market open before paring gains on Tuesday morning as the company continues its executive search following CEO Carrie Wheeler's departure, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Nexstar to acquire Tegna in $6.2 billion deal, creating largest US local TV station group Nexstar Media Group (NXST) is set to expand its dominance in US broadcasting with a $6.2 billion acquisition of Tegna Inc. (TGNA), a deal that will create the nation's largest local TV station group. The transaction, which includes Tegna's net debt and fees, is expected to close in the second half of 2026 pending regulatory approvals. The Wall Street Journal first reported earlier this month that Nexstar was in advanced talks to acquire Tegna. Shares of Nexstar jumped over 6% shortly after the opening bell on Tuesday, while Tegna shares rose around 4% on the news. According to the release, the combination will create a leading local media company with 265 full-power television stations in 44 states and Washington, D.C., covering 132 of the nation's 210 television markets and reaching about 80% of US TV households. The new entity will hold stations in nine of the top 10 designated market areas (DMAs) and 41 of the top 50. Nexstar Chairman and CEO Perry Sook said the merger reflects both companies' commitment to local broadcasting and builds on Nexstar's "record of growth" through acquisitions, which includes its 2019 purchase of Tribune Media and its majority stake in The CW network in 2022. Sook added that deregulatory initiatives from the Trump administration have created an opportunity for broadcasters "to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies." The companies expect about $300 million in annual net synergies and project the transaction will be more than 40% accretive to Nexstar's free cash flow in the first 12 months post-closing. Citi analyst Jason Bazinet said the transaction adds about $25 per share of M&A value to Nexstar's outlook. He raised his price target on the stock to $218 from $186 as a result, while maintaining a Neutral rating. Stocks mixed at the open US stocks were mixed on Tuesday. The Dow Jones Industrial Average (^DJI) edged up 0.1%, while the S&P 500 (^GSPC) fell about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) declined 0.4%, continuing Wall Street stocks' muted start to the week. Home Depot (HD) led out this week's results from retail giants, with its earnings report on Tuesday showing a return to consistent same-store sales growth in the US amid signs that the housing market could begin to recover. In the tech world, Intel (INTC) shares jumped after SoftBank said it's taking a $2 billion stake, and the Trump administration reportedly weighed taking its own stake worth up to 10% of the troubled chipmaker. Wall Street is looking ahead to Fed Chair Jerome Powell's highly anticipated speech in Jackson Hole on Friday, signaling the central bank's latest views on interest rates. Intel stock jumps 5% as SoftBank takes $2 billion stake in ailing chip company Yahoo Finance's Daniel Howley reports: Read more here. Viking Therapeutics stock plunges on high dropout rate in weight-loss pill trial Viking Therapeutics (VKTX) stock tumbled 35% in premarket trading after a phase 2 trial of its weight-loss pill showed a high patient dropout rate. The GLP-1 obesity treatment showed some promising results: Patients lost 12.2% of body weight after 13 weeks. However, 28% of patients dropped out of the trial before it was completed. Viking's oral obesity drug, VK2735, aims to compete with Eli Lilly's drug, orforglipron, which saw a 12% weight-loss rate after 72 weeks. Eli Lilly shares rose 1.5% in premarket trading. "Data look inferior to LLY on almost all metrics and the thing to consider here is that patients discontinued at such a high rate over 13-weeks vs. LLY in the mid 20% range — but over 72-weeks," Mizuho analyst Jared Holz wrote in a note. "A much longer trial, and [therefore] LLY looks far better head-to-head." S&P affirms US credit rating US stock futures were muted after the S&P reiterated its credit rating for the US. The 10-year Treasury yield (^TNX) and 30-year yield (^TYX) fell by about 2 basis points to 4.32% and 4.92%, respectively. Bloomberg reports: Read more here. A suite of retail data is set to decode the resilient consumer American shoppers have kept the engine of the nation's GDP humming along. But it's worth pinpointing where all that resilience is coming from, as Yahoo Finance's Hamza Shaban lays out in today's Morning Brief. Read more here. Medtronic appoints 2 new board members after Elliott takes a stake Shares of medical device maker Medtronic (MDT) fell 3% premarket after the company announced it would add two new independent directors to its board. Veteran med-tech executives John Groetelaars and Bill Jellison were appointed, the company said. The change comes as activist investor Elliott Investment Management has become one of its largest shareholders. Additionally, the board formed two new committees, helmed by CEO Geoff Martha. The Growth Committee will evaluate M&A opportunities, R&D investments, and potential divestitures. The Operating Committee will focus on margin expansion and operational efficiency. Home Depot slightly misses Wall Street's mark in Q2 earnings, reiterates guidance Home Depot (HD) released its second-quarter earnings on Tuesday. The retailer's stock fell about 2% premarket before recovering. Yahoo Finance's senior reporter Brooke DiPalma looks at the latest from the home improvement retailer and how the US housing slump has impacted its bottom line. Read more here. Wall Street sees stock market rotation charting 'healthiest path' to new highs The stock market's record rally is showing early signs of broadening beyond Big Tech as investors rotate into lagging sectors, but strategists warn its durability hinges on earnings and Fed policy. Yahoo Finance's Allie Canal reports: Read more here. Premarket trending tickers: Palo Alto, Nu holdings and Intel Here's a look at some of the top stocks trending in premarket trading: Palo Alto Networks (PANW) shares rose 5% in premarket trading on Tuesday after the Santa Clara cybersecurity firm forecast fiscal 2026 revenue and profit above analysts' estimates, citing growing demand for its AI powered cybersecurity solutions. Digital banking group Nu holdings (NU) stock rose 2% before the bell after Morgan Stanley (MS) analyst Jorge Kuri reiterated a Buy rating on the company and set a price target of $18.00. Intel (INTC) stock rose premarket more than 6% after Softbank Group (9984.T) announced a $2 billion capital injection into the US chipmaker that is currently in the middle of a turnaround effort. Good morning. Here's what's happening today. Economic data: Housing starts (July); Building permits (July) Earnings: Home Depot (HD), XPeng (XPEV), Medtronic (MDT), Amer Sports (AS), Toll Brothers (TOL), La-Z-Boy (LZB) Here are some of the biggest stories you may have missed overnight and early this morning: Signs of a healthier path to new records emerge for stocks Nvidia is working on an H20-beating AI chip for China Trump tariffs get S&P seal of approval Why stocks are looking ripe for a regime shift Intel gets a $2 billion lifeline from SoftBank Trump pushes Putin-Zelensky meeting after talks with both Home Depot to report earnings as Wall Street eyes US sales growth Why Google just boosted its stake in a bitcoin miner Intel gets one new investor... for now With chatter today that the government is nearing taking a 10% stake in Intel, I guess I shouldn't be shocked that the bruised tech giant is hoping to gain some Street cred on its future product roadmap by tapping SoftBank and Masa for cash. Embattled Intel CEO Lip-Bu Tan also gains a Trump friend in Masa. SoftBank will invest $2 billion in Intel at $23 a share. 'Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role," SoftBank chair and CEO Masayoshi Son said in a statement. Intel CEO Lip-Bu Tan added, "We are very pleased to deepen our relationship with SoftBank, a company that's at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership. Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.' It's still something to see this unfolding at Intel, which has billions in cash and is by no means in a financial death spiral. Given Masa's close ties to the Trump administration, I suspect the government stake announcement could come next. None of this is a good signal on Intel's turnaround, bottom line. A Trump administration spokesperson didn't return my request for comment. Opendoor stock climbs as CEO search continues Opendoor Technologies (OPEN) stock rallied 6% at the market open before paring gains on Tuesday morning as the company continues its executive search following CEO Carrie Wheeler's departure, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Opendoor Technologies (OPEN) stock rallied 6% at the market open before paring gains on Tuesday morning as the company continues its executive search following CEO Carrie Wheeler's departure, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Nexstar to acquire Tegna in $6.2 billion deal, creating largest US local TV station group Nexstar Media Group (NXST) is set to expand its dominance in US broadcasting with a $6.2 billion acquisition of Tegna Inc. (TGNA), a deal that will create the nation's largest local TV station group. The transaction, which includes Tegna's net debt and fees, is expected to close in the second half of 2026 pending regulatory approvals. The Wall Street Journal first reported earlier this month that Nexstar was in advanced talks to acquire Tegna. Shares of Nexstar jumped over 6% shortly after the opening bell on Tuesday, while Tegna shares rose around 4% on the news. According to the release, the combination will create a leading local media company with 265 full-power television stations in 44 states and Washington, D.C., covering 132 of the nation's 210 television markets and reaching about 80% of US TV households. The new entity will hold stations in nine of the top 10 designated market areas (DMAs) and 41 of the top 50. Nexstar Chairman and CEO Perry Sook said the merger reflects both companies' commitment to local broadcasting and builds on Nexstar's "record of growth" through acquisitions, which includes its 2019 purchase of Tribune Media and its majority stake in The CW network in 2022. Sook added that deregulatory initiatives from the Trump administration have created an opportunity for broadcasters "to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies." The companies expect about $300 million in annual net synergies and project the transaction will be more than 40% accretive to Nexstar's free cash flow in the first 12 months post-closing. Citi analyst Jason Bazinet said the transaction adds about $25 per share of M&A value to Nexstar's outlook. He raised his price target on the stock to $218 from $186 as a result, while maintaining a Neutral rating. Nexstar Media Group (NXST) is set to expand its dominance in US broadcasting with a $6.2 billion acquisition of Tegna Inc. (TGNA), a deal that will create the nation's largest local TV station group. The transaction, which includes Tegna's net debt and fees, is expected to close in the second half of 2026 pending regulatory approvals. The Wall Street Journal first reported earlier this month that Nexstar was in advanced talks to acquire Tegna. Shares of Nexstar jumped over 6% shortly after the opening bell on Tuesday, while Tegna shares rose around 4% on the news. According to the release, the combination will create a leading local media company with 265 full-power television stations in 44 states and Washington, D.C., covering 132 of the nation's 210 television markets and reaching about 80% of US TV households. The new entity will hold stations in nine of the top 10 designated market areas (DMAs) and 41 of the top 50. Nexstar Chairman and CEO Perry Sook said the merger reflects both companies' commitment to local broadcasting and builds on Nexstar's "record of growth" through acquisitions, which includes its 2019 purchase of Tribune Media and its majority stake in The CW network in 2022. Sook added that deregulatory initiatives from the Trump administration have created an opportunity for broadcasters "to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies." The companies expect about $300 million in annual net synergies and project the transaction will be more than 40% accretive to Nexstar's free cash flow in the first 12 months post-closing. Citi analyst Jason Bazinet said the transaction adds about $25 per share of M&A value to Nexstar's outlook. He raised his price target on the stock to $218 from $186 as a result, while maintaining a Neutral rating. Stocks mixed at the open US stocks were mixed on Tuesday. The Dow Jones Industrial Average (^DJI) edged up 0.1%, while the S&P 500 (^GSPC) fell about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) declined 0.4%, continuing Wall Street stocks' muted start to the week. Home Depot (HD) led out this week's results from retail giants, with its earnings report on Tuesday showing a return to consistent same-store sales growth in the US amid signs that the housing market could begin to recover. In the tech world, Intel (INTC) shares jumped after SoftBank said it's taking a $2 billion stake, and the Trump administration reportedly weighed taking its own stake worth up to 10% of the troubled chipmaker. Wall Street is looking ahead to Fed Chair Jerome Powell's highly anticipated speech in Jackson Hole on Friday, signaling the central bank's latest views on interest rates. US stocks were mixed on Tuesday. The Dow Jones Industrial Average (^DJI) edged up 0.1%, while the S&P 500 (^GSPC) fell about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) declined 0.4%, continuing Wall Street stocks' muted start to the week. Home Depot (HD) led out this week's results from retail giants, with its earnings report on Tuesday showing a return to consistent same-store sales growth in the US amid signs that the housing market could begin to recover. In the tech world, Intel (INTC) shares jumped after SoftBank said it's taking a $2 billion stake, and the Trump administration reportedly weighed taking its own stake worth up to 10% of the troubled chipmaker. Wall Street is looking ahead to Fed Chair Jerome Powell's highly anticipated speech in Jackson Hole on Friday, signaling the central bank's latest views on interest rates. Intel stock jumps 5% as SoftBank takes $2 billion stake in ailing chip company Yahoo Finance's Daniel Howley reports: Read more here. Yahoo Finance's Daniel Howley reports: Read more here. Viking Therapeutics stock plunges on high dropout rate in weight-loss pill trial Viking Therapeutics (VKTX) stock tumbled 35% in premarket trading after a phase 2 trial of its weight-loss pill showed a high patient dropout rate. The GLP-1 obesity treatment showed some promising results: Patients lost 12.2% of body weight after 13 weeks. However, 28% of patients dropped out of the trial before it was completed. Viking's oral obesity drug, VK2735, aims to compete with Eli Lilly's drug, orforglipron, which saw a 12% weight-loss rate after 72 weeks. Eli Lilly shares rose 1.5% in premarket trading. "Data look inferior to LLY on almost all metrics and the thing to consider here is that patients discontinued at such a high rate over 13-weeks vs. LLY in the mid 20% range — but over 72-weeks," Mizuho analyst Jared Holz wrote in a note. "A much longer trial, and [therefore] LLY looks far better head-to-head." Viking Therapeutics (VKTX) stock tumbled 35% in premarket trading after a phase 2 trial of its weight-loss pill showed a high patient dropout rate. The GLP-1 obesity treatment showed some promising results: Patients lost 12.2% of body weight after 13 weeks. However, 28% of patients dropped out of the trial before it was completed. Viking's oral obesity drug, VK2735, aims to compete with Eli Lilly's drug, orforglipron, which saw a 12% weight-loss rate after 72 weeks. Eli Lilly shares rose 1.5% in premarket trading. "Data look inferior to LLY on almost all metrics and the thing to consider here is that patients discontinued at such a high rate over 13-weeks vs. LLY in the mid 20% range — but over 72-weeks," Mizuho analyst Jared Holz wrote in a note. "A much longer trial, and [therefore] LLY looks far better head-to-head." S&P affirms US credit rating US stock futures were muted after the S&P reiterated its credit rating for the US. The 10-year Treasury yield (^TNX) and 30-year yield (^TYX) fell by about 2 basis points to 4.32% and 4.92%, respectively. Bloomberg reports: Read more here. US stock futures were muted after the S&P reiterated its credit rating for the US. The 10-year Treasury yield (^TNX) and 30-year yield (^TYX) fell by about 2 basis points to 4.32% and 4.92%, respectively. Bloomberg reports: Read more here. A suite of retail data is set to decode the resilient consumer American shoppers have kept the engine of the nation's GDP humming along. But it's worth pinpointing where all that resilience is coming from, as Yahoo Finance's Hamza Shaban lays out in today's Morning Brief. Read more here. American shoppers have kept the engine of the nation's GDP humming along. But it's worth pinpointing where all that resilience is coming from, as Yahoo Finance's Hamza Shaban lays out in today's Morning Brief. Read more here. Medtronic appoints 2 new board members after Elliott takes a stake Shares of medical device maker Medtronic (MDT) fell 3% premarket after the company announced it would add two new independent directors to its board. Veteran med-tech executives John Groetelaars and Bill Jellison were appointed, the company said. The change comes as activist investor Elliott Investment Management has become one of its largest shareholders. Additionally, the board formed two new committees, helmed by CEO Geoff Martha. The Growth Committee will evaluate M&A opportunities, R&D investments, and potential divestitures. The Operating Committee will focus on margin expansion and operational efficiency. Shares of medical device maker Medtronic (MDT) fell 3% premarket after the company announced it would add two new independent directors to its board. Veteran med-tech executives John Groetelaars and Bill Jellison were appointed, the company said. The change comes as activist investor Elliott Investment Management has become one of its largest shareholders. Additionally, the board formed two new committees, helmed by CEO Geoff Martha. The Growth Committee will evaluate M&A opportunities, R&D investments, and potential divestitures. The Operating Committee will focus on margin expansion and operational efficiency. Home Depot slightly misses Wall Street's mark in Q2 earnings, reiterates guidance Home Depot (HD) released its second-quarter earnings on Tuesday. The retailer's stock fell about 2% premarket before recovering. Yahoo Finance's senior reporter Brooke DiPalma looks at the latest from the home improvement retailer and how the US housing slump has impacted its bottom line. Read more here. Home Depot (HD) released its second-quarter earnings on Tuesday. The retailer's stock fell about 2% premarket before recovering. Yahoo Finance's senior reporter Brooke DiPalma looks at the latest from the home improvement retailer and how the US housing slump has impacted its bottom line. Read more here. Wall Street sees stock market rotation charting 'healthiest path' to new highs The stock market's record rally is showing early signs of broadening beyond Big Tech as investors rotate into lagging sectors, but strategists warn its durability hinges on earnings and Fed policy. Yahoo Finance's Allie Canal reports: Read more here. The stock market's record rally is showing early signs of broadening beyond Big Tech as investors rotate into lagging sectors, but strategists warn its durability hinges on earnings and Fed policy. Yahoo Finance's Allie Canal reports: Read more here. Premarket trending tickers: Palo Alto, Nu holdings and Intel Here's a look at some of the top stocks trending in premarket trading: Palo Alto Networks (PANW) shares rose 5% in premarket trading on Tuesday after the Santa Clara cybersecurity firm forecast fiscal 2026 revenue and profit above analysts' estimates, citing growing demand for its AI powered cybersecurity solutions. Digital banking group Nu holdings (NU) stock rose 2% before the bell after Morgan Stanley (MS) analyst Jorge Kuri reiterated a Buy rating on the company and set a price target of $18.00. Intel (INTC) stock rose premarket more than 6% after Softbank Group (9984.T) announced a $2 billion capital injection into the US chipmaker that is currently in the middle of a turnaround effort. Here's a look at some of the top stocks trending in premarket trading: Palo Alto Networks (PANW) shares rose 5% in premarket trading on Tuesday after the Santa Clara cybersecurity firm forecast fiscal 2026 revenue and profit above analysts' estimates, citing growing demand for its AI powered cybersecurity solutions. Digital banking group Nu holdings (NU) stock rose 2% before the bell after Morgan Stanley (MS) analyst Jorge Kuri reiterated a Buy rating on the company and set a price target of $18.00. Intel (INTC) stock rose premarket more than 6% after Softbank Group (9984.T) announced a $2 billion capital injection into the US chipmaker that is currently in the middle of a turnaround effort. Good morning. Here's what's happening today. Economic data: Housing starts (July); Building permits (July) Earnings: Home Depot (HD), XPeng (XPEV), Medtronic (MDT), Amer Sports (AS), Toll Brothers (TOL), La-Z-Boy (LZB) Here are some of the biggest stories you may have missed overnight and early this morning: Signs of a healthier path to new records emerge for stocks Nvidia is working on an H20-beating AI chip for China Trump tariffs get S&P seal of approval Why stocks are looking ripe for a regime shift Intel gets a $2 billion lifeline from SoftBank Trump pushes Putin-Zelensky meeting after talks with both Home Depot to report earnings as Wall Street eyes US sales growth Why Google just boosted its stake in a bitcoin miner Economic data: Housing starts (July); Building permits (July) Earnings: Home Depot (HD), XPeng (XPEV), Medtronic (MDT), Amer Sports (AS), Toll Brothers (TOL), La-Z-Boy (LZB) Here are some of the biggest stories you may have missed overnight and early this morning: Signs of a healthier path to new records emerge for stocks Nvidia is working on an H20-beating AI chip for China Trump tariffs get S&P seal of approval Why stocks are looking ripe for a regime shift Intel gets a $2 billion lifeline from SoftBank Trump pushes Putin-Zelensky meeting after talks with both Home Depot to report earnings as Wall Street eyes US sales growth Why Google just boosted its stake in a bitcoin miner Intel gets one new investor... for now With chatter today that the government is nearing taking a 10% stake in Intel, I guess I shouldn't be shocked that the bruised tech giant is hoping to gain some Street cred on its future product roadmap by tapping SoftBank and Masa for cash. Embattled Intel CEO Lip-Bu Tan also gains a Trump friend in Masa. SoftBank will invest $2 billion in Intel at $23 a share. 'Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role," SoftBank chair and CEO Masayoshi Son said in a statement. Intel CEO Lip-Bu Tan added, "We are very pleased to deepen our relationship with SoftBank, a company that's at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership. Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.' It's still something to see this unfolding at Intel, which has billions in cash and is by no means in a financial death spiral. Given Masa's close ties to the Trump administration, I suspect the government stake announcement could come next. None of this is a good signal on Intel's turnaround, bottom line. A Trump administration spokesperson didn't return my request for comment. With chatter today that the government is nearing taking a 10% stake in Intel, I guess I shouldn't be shocked that the bruised tech giant is hoping to gain some Street cred on its future product roadmap by tapping SoftBank and Masa for cash. Embattled Intel CEO Lip-Bu Tan also gains a Trump friend in Masa. SoftBank will invest $2 billion in Intel at $23 a share. 'Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role," SoftBank chair and CEO Masayoshi Son said in a statement. Intel CEO Lip-Bu Tan added, "We are very pleased to deepen our relationship with SoftBank, a company that's at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership. Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.' It's still something to see this unfolding at Intel, which has billions in cash and is by no means in a financial death spiral. Given Masa's close ties to the Trump administration, I suspect the government stake announcement could come next. None of this is a good signal on Intel's turnaround, bottom line. A Trump administration spokesperson didn't return my request for comment. Sign in to access your portfolio
Engadget
23 minutes ago
- Engadget
Apple is reportedly manufacturing all four iPhone 17 models in India
Apple is shifting more iPhone production to India ahead of next month's iPhone 17 launch, Bloomberg reports. The company will build all four iPhone 17 models there, and for the first time US-bound shipments for the entire lineup will come from India at launch. The shift comes amid production expansion across five factories in India, including two plants that recently opened. Apple has been working to decrease its reliance on China for the manufacturing of US-bound iPhones. According to Bloomberg , factories controlled by Tata Group, an Indian multinational headquartered in Mumbai, will account for as much as half of India's iPhone output over the next two years. Apple's longtime partner Foxconn Technology Group is also involved through its production hub in Bangalore. The iPhone 17 lineup is expected to be unveiled in September, though the exact date is still unknown. We expect to see the usual iPhone 17, 17 Pro, and 17 Pro Max models announced, with the added possibility of a slimmer premium model in the form of an iPhone Air. The iPhone 17e, the next generation of Apple's budget-friendly model, is more likely to arrive in early 2026 if it follows the same pattern as the iPhone 16e . In the United States, the Trump administration had threatened Apple with tariffs on iPhones if it continued manufacturing the devices overseas. More recently, however, Apple announced from the Oval Office that it would invest an additional $100 billion in the US as part of a new 'American Manufacturing Program.' This was announced as part of a $600 billion overall investment by Apple to produce more components domestically. While India is among the many countries facing the Trump administration's ever-changing tariff landscape, Bloomberg reported earlier this summer that iPhones imported from India have so far evaded tariffs as the US Commerce Department works to determine what sectors it deems vital to national security. With that in mind, it's not surprising to see Apple shipping as many iPhones to the US from India as possible, at least for now.
