India's Insurance Giant Turns to Wall Street Banks to Hedge Risk
The nation's largest insurer has entered into $1 billion worth of bond forward rate agreements with banks including JPMorgan Chase & Co. and Bank of America Corp. over the past two months, the people said, asking not to be identified as they are not authorized to speak publicly.
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Yahoo
24 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq rise as Wall Street awaits Fed decision, Big Tech results
US stocks held steady on Wednesday — a potentially pivotal day for markets that brings a Federal Reserve interest rate decision, a data deluge, and a flood of earnings highlighted by Microsoft (MSFT) and Meta (META). The Dow Jones Industrial Average (^DJI) nudged up 0.1%, while the S&P 500 (^GSPC) rose 0.2%. The tech-heavy Nasdaq Composite (^IXIC) ticked up 0.4%. The major gauges fell on Tuesday, leading the S&P 500 to snap its six-day record streak. Stocks are in a holding pattern as investors wait for the Fed's decision on interest rates, due at 2 p.m. ET at the end of its two-day meeting. With the central bank expected to hold rates steady, Wall Street will closely watch the Fed's "dot plot" given internal divisions over the path of policy. Focus is also on Chair Jerome Powell's remarks for signals on potential easing later this year, as President Trump presses for a rate cut. The Fed — and markets — received key signals on the US economy's health early Wednesday. US GDP grew at a 3% annual rate in the second quarter, rebounding from its first pullback in three years in Q1. Meanwhile, US private employers added more jobs than expected in July, with private payrolls also returning to growth after a surprise pullback in June. The rosier economic data prompted Trump to again call on the Fed to lower rates. "'Too Late' must now lower the rate," he wrote on social media hours before the central bank was set to release its policy statement. Investors also fielded a further flood of earnings from major companies, with Humana (HUM), and Kraft Heinz (KHC) getting a positive reception before the bell. Read more: Full earnings coverage in our live blog Wall Street is looking to after-hours reports from Microsoft and Meta to help rejuvenate markets. The companies are the first of the "Magnificent 7" group to report, and both are contending with growing scrutiny over whether their eye-popping AI investments are paying off. Looming ahead is Trump's Friday deadline for trade partners to strike deals with the US or face blanket tariff rates. Trump said goods from India would face a 25% tariff from Friday, as talks apparently stall between the countries. Read more: The latest on Trump's tariffs US-China trade talks wrapped up on Tuesday without an extension of the current tariff pause between the two, but Treasury Secretary Scott Bessent said Trump would make a "final call" on the matter soon. Trump says Powell must lower interest rates 'now' following GDP uptick President Trump used a return to GDP growth ahead of a widely expected Federal Reserve decision to keep monetary policy unchanged to say that Fed Chairman Jerome Powell must 'now' lower rates, Yahoo Finance's Ben Werschkul reports. Werschkul writes: Read the full story here. Marvell Technology soars 10% as Morgan Stanley analyst lifts price outlook Marvell Technology (MRVL) shares spiked Wednesday after Morgan Stanley (MS) analyst Joseph Moore lifted his price target on the stock to $80 from $73. In a note to clients on Tuesday, Moore cited the chipmaker's opportunity in the AI networking space. Networking products such as data center switches, ethernet controllers, and digital signal processors are required in data centers to receive and send data between AI chips and servers. Marvell makes both networking products and custom AI chips (also known as processors) called ASIC accelerators. "For both Broadcom (AVGO) and Marvell (MRVL), we expect AI upside this year to come from the networking side rather than processors [custom AI chips]," Moore wrote. Moore said Marvell "should be a direct beneficiary of NVIDIA's upcoming product cycle." That's because networking technology is needed to support upcoming purchases of Nvidia's latest Blackwell chips and servers. "Marvell is firmly in the AI winners camp," wrote Moore. Nvidia leads muted Mag 7 ahead of Microsoft, Meta earnings Nvidia (NVDA) shares moved up 1% early on Wednesday, leading the group of "Magnificent Seven" tech stocks ahead of earnings reports from Microsoft (MSFT) and Meta (META) after the bell. Amazon (AMZN), Tesla (TSLA), and Microsoft stock prices wavered around the flat line, while Meta and Google (GOOG) shares rose less than 1%. Apple (AAPL) slipped around 0.1% in lackluster trade for US stocks more broadly. Nvidia is up roughly 4% over the past five trading sessions, compared with the tech heavy Nasdaq Composite's (^IXIC) 0.6% gain over the same period. Stocks steady at the open US stocks held steady at the start of Wednesday's trading session ahead of the Federal Reserve's interest-rate decision and earnings from Big Tech names Microsoft (MSFT) and Meta (META). The Dow Jones Industrial Average (^DJI) wavered along the flat line, while the S&P 500 (^GSPC) nudged nearly 0.1% higher. The tech-heavy Nasdaq Composite (^IXIC) ticked up roughly 0.2%. The indices had fallen on Tuesday, with the S&P 500 ending its six-day record streak. Jobs data, GDP both top forecasts in a strong morning for the US economy Data from ADP on private payroll growth and the first look at second quarter GDP growth out Wednesday morning both topped forecasts, a sign of continued resilience in the US economy. Private payroll growth in July tallied 104,000 according to the latest data from ADP, more than the 77,000 jobs that private employers were expected to add and a rebound from the 23,000 jobs that were cut in the sector last month. "Our hiring and pay data are broadly indicative of a healthy economy," said Nela Richardson, chief economist at ADP. "Employers have grown more optimistic that consumers, the backbone of the economy, will remain resilient." Fifteen minutes after ADP's data was released, the BEA put out its first look at GDP growth in the second quarter, which showed the US economy grew at an annualized rate of 3% in the second quarter, faster than the 2.6% that had been expected by economists. In the first three months of the year, the US economy contracted at a rate of 0.5%. The BEA noted in its release the rebound in the second quarter was largely a result of decreased imports, which had weighed on growth in the first quarter as businesses increased orders ahead of expected tariffs. In response to the data, longer-term Treasury yields ticked slightly higher while futures remained little-changed ahead of the Federal Reserve's policy announcement set for 2:00 p.m. ET. In a post on Truth Social following the GDP data, President Trump again called on the Fed to cut rates. The central bank is widely expected to make no change to its interest rate policy later today. Premarket trending tickers: Novo Nordisk stock falls, Starbucks stock pops Here's a look at some of the top stocks trending in premarket trading: Novo Nordisk (NVO): The stock continued to sink on Wednesday, falling 4% premarket after a 21% wipeout on Tuesday. The drugmaker cut its full-year sales and operating profit guidance again, related to lower growth expectations for its diabetes and weight-loss drugs, Wegovy and Ozempic. Eli Lilly stock also fell Tuesday but was up 1% Wednesday morning. Starbucks (SBUX): Shares of the coffee giant popped 5% premarket after the company reported its sixth straight quarterly sales decline. But things weren't as bad as investors feared, and CEO Brian Niccol assured Wall Street that the company was "ahead of schedule" in its turnaround plan. V.F. Corp (VFC): The Vans parent's stock soared nearly 20% after the company beat first quarter revenue estimates on Wednesday, aided by an uptick in demand for its apparel and footwear products. Palo Alto Networks (PANW): The software company is in final talks to acquire Israeli cybersecurity provider CyberArk, the Wall Street Journal reported, and the deal could be finalized as early as this week. The deal could place a value north of $20 billion on CyberArk, potentially making it one of the largest tech takeovers this year. Shares of Palo Alto Networks rose 0.4% in premarket trading. Meta (META) and Microsoft (MSFT) stocks rose modestly ahead of their quarterly results, which are set to be released after the closing bell on Wednesday. Investors will be looking to the two Big Tech companies for signs of AI sales growth and monetization. Read live coverage of corporate earnings here. A divided Fed is expected to hold rates steady, defying Trump's calls for a cut The Federal Reserve is widely expected to hold interest rates steady on Wednesday, though the central bank remains internally divided over the path of monetary policy amid the Trump administration's pressure on the Fed. Yahoo Finance's Jennifer Schonberger reports: Read more here. Whirlpool is championing the tariffs that have hammered its quarter Yahoo Finance's Hamza Shaban digs into the tariffs story for Whirlpool (WHR) in today's Morning Brief: Read more here on why Whirlpool is looking past tariff setbacks. Good morning. Here's what's happening today. Economic data: Federal Reserve monetary policy decision; GDP annualized; ADP private payrolls (July); (second quarter); Pending home sales, (June); MBA Mortgage Applications (July 25); Minnesota Chicago PMI (July) Earnings: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Here are some of the biggest stories you may have missed overnight and early this morning: Fed set to hold rates steady, defying Trump's call for a cut Whirlpool is championing the tariffs that have hammered its quarter Meta to report Q2 earnings amid AI investment push Microsoft to report Q4 earnings as Wall Street looks for continued AI growth Deal-hunting Americans are putting corporates on watch Trump eyes 25% India tariff, US-China truce in the balance Wall Street's riding high on relief, not results: Strategist Tesla signs $4.3B battery deal, cuts reliance on China Meta and Microsoft are set to kick off this week's Big Tech earnings Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring and spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Trending tickers: Seagate, Avis and Sarepta Here are some top stocks trending on Yahoo Finance in premarket trading: Seagate Technology (STX) shares fell more than 6% on Wednesday before the bell after the company's first-quarter revenue forecast fell below Wall Street estimates on Tuesday. Seagate earnings were hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market. Avis (CAR) stock fell 5% premarket following the car rental company's earnings results on Tuesday. It was also announced that Alphabet (GOOG, GOOGL)-owned company Waymo plans to launch a robotaxi service next year in Dallas and will partner with Avis Budget Group to manage its fleet of all-electric autonomous Jaguar I-Pace vehicles. Sarepta Therapeutics (SRPT) stock rose 10% in premarket trading on Wednesday following the news that it will now start shipping its top-selling muscular dystrophy therapy, Elevidys, after the US Food and Drug Administration (FDA) reversed its request for a voluntary pause late Monday. Starbucks stock pops after US sales fall less than feared Shares of Starbucks (SBUX) rose in premarket despite a quarterly profit miss after sales in the coffee chain's US outlets proved healthier than expected. Yahoo Finance's Brooke DiPalma reports: Read more here. Major Asian gauges see slight boost from US-China trade talks Markets across Asia saw tentative gains despite uncertainty in the aftermath of US-China trade talks. The two-day talks between the two economic powerhouses to discuss tariffs did not yield hard results, but representatives from both nations expressed positivity about the dialogue. Reuters reports: Read more here. Samsung stock pops on Tesla deal Samsung Electronics ( has seen the benefits of a wave of market optimism following the unexpected announcement of a chipmaking deal with Tesla (TSLA) worth $16.5 billion. Bloomberg reports: Read more here. Oil prices hold after Trump-Russia row Oil prices held gains overnight Tuesday after jumping 3% Monday, with supply issues in focus. Trump's continued pressure on Russia over the Ukraine war has raised concerns over how economic sanctions will impact the Slavic state's ability to produce oil at the current rate. Reuters reports: Read more here. Trump says Powell must lower interest rates 'now' following GDP uptick President Trump used a return to GDP growth ahead of a widely expected Federal Reserve decision to keep monetary policy unchanged to say that Fed Chairman Jerome Powell must 'now' lower rates, Yahoo Finance's Ben Werschkul reports. Werschkul writes: Read the full story here. President Trump used a return to GDP growth ahead of a widely expected Federal Reserve decision to keep monetary policy unchanged to say that Fed Chairman Jerome Powell must 'now' lower rates, Yahoo Finance's Ben Werschkul reports. Werschkul writes: Read the full story here. Marvell Technology soars 10% as Morgan Stanley analyst lifts price outlook Marvell Technology (MRVL) shares spiked Wednesday after Morgan Stanley (MS) analyst Joseph Moore lifted his price target on the stock to $80 from $73. In a note to clients on Tuesday, Moore cited the chipmaker's opportunity in the AI networking space. Networking products such as data center switches, ethernet controllers, and digital signal processors are required in data centers to receive and send data between AI chips and servers. Marvell makes both networking products and custom AI chips (also known as processors) called ASIC accelerators. "For both Broadcom (AVGO) and Marvell (MRVL), we expect AI upside this year to come from the networking side rather than processors [custom AI chips]," Moore wrote. Moore said Marvell "should be a direct beneficiary of NVIDIA's upcoming product cycle." That's because networking technology is needed to support upcoming purchases of Nvidia's latest Blackwell chips and servers. "Marvell is firmly in the AI winners camp," wrote Moore. Marvell Technology (MRVL) shares spiked Wednesday after Morgan Stanley (MS) analyst Joseph Moore lifted his price target on the stock to $80 from $73. In a note to clients on Tuesday, Moore cited the chipmaker's opportunity in the AI networking space. Networking products such as data center switches, ethernet controllers, and digital signal processors are required in data centers to receive and send data between AI chips and servers. Marvell makes both networking products and custom AI chips (also known as processors) called ASIC accelerators. "For both Broadcom (AVGO) and Marvell (MRVL), we expect AI upside this year to come from the networking side rather than processors [custom AI chips]," Moore wrote. Moore said Marvell "should be a direct beneficiary of NVIDIA's upcoming product cycle." That's because networking technology is needed to support upcoming purchases of Nvidia's latest Blackwell chips and servers. "Marvell is firmly in the AI winners camp," wrote Moore. Nvidia leads muted Mag 7 ahead of Microsoft, Meta earnings Nvidia (NVDA) shares moved up 1% early on Wednesday, leading the group of "Magnificent Seven" tech stocks ahead of earnings reports from Microsoft (MSFT) and Meta (META) after the bell. Amazon (AMZN), Tesla (TSLA), and Microsoft stock prices wavered around the flat line, while Meta and Google (GOOG) shares rose less than 1%. Apple (AAPL) slipped around 0.1% in lackluster trade for US stocks more broadly. Nvidia is up roughly 4% over the past five trading sessions, compared with the tech heavy Nasdaq Composite's (^IXIC) 0.6% gain over the same period. Nvidia (NVDA) shares moved up 1% early on Wednesday, leading the group of "Magnificent Seven" tech stocks ahead of earnings reports from Microsoft (MSFT) and Meta (META) after the bell. Amazon (AMZN), Tesla (TSLA), and Microsoft stock prices wavered around the flat line, while Meta and Google (GOOG) shares rose less than 1%. Apple (AAPL) slipped around 0.1% in lackluster trade for US stocks more broadly. Nvidia is up roughly 4% over the past five trading sessions, compared with the tech heavy Nasdaq Composite's (^IXIC) 0.6% gain over the same period. Stocks steady at the open US stocks held steady at the start of Wednesday's trading session ahead of the Federal Reserve's interest-rate decision and earnings from Big Tech names Microsoft (MSFT) and Meta (META). The Dow Jones Industrial Average (^DJI) wavered along the flat line, while the S&P 500 (^GSPC) nudged nearly 0.1% higher. The tech-heavy Nasdaq Composite (^IXIC) ticked up roughly 0.2%. The indices had fallen on Tuesday, with the S&P 500 ending its six-day record streak. US stocks held steady at the start of Wednesday's trading session ahead of the Federal Reserve's interest-rate decision and earnings from Big Tech names Microsoft (MSFT) and Meta (META). The Dow Jones Industrial Average (^DJI) wavered along the flat line, while the S&P 500 (^GSPC) nudged nearly 0.1% higher. The tech-heavy Nasdaq Composite (^IXIC) ticked up roughly 0.2%. The indices had fallen on Tuesday, with the S&P 500 ending its six-day record streak. Jobs data, GDP both top forecasts in a strong morning for the US economy Data from ADP on private payroll growth and the first look at second quarter GDP growth out Wednesday morning both topped forecasts, a sign of continued resilience in the US economy. Private payroll growth in July tallied 104,000 according to the latest data from ADP, more than the 77,000 jobs that private employers were expected to add and a rebound from the 23,000 jobs that were cut in the sector last month. "Our hiring and pay data are broadly indicative of a healthy economy," said Nela Richardson, chief economist at ADP. "Employers have grown more optimistic that consumers, the backbone of the economy, will remain resilient." Fifteen minutes after ADP's data was released, the BEA put out its first look at GDP growth in the second quarter, which showed the US economy grew at an annualized rate of 3% in the second quarter, faster than the 2.6% that had been expected by economists. In the first three months of the year, the US economy contracted at a rate of 0.5%. The BEA noted in its release the rebound in the second quarter was largely a result of decreased imports, which had weighed on growth in the first quarter as businesses increased orders ahead of expected tariffs. In response to the data, longer-term Treasury yields ticked slightly higher while futures remained little-changed ahead of the Federal Reserve's policy announcement set for 2:00 p.m. ET. In a post on Truth Social following the GDP data, President Trump again called on the Fed to cut rates. The central bank is widely expected to make no change to its interest rate policy later today. Data from ADP on private payroll growth and the first look at second quarter GDP growth out Wednesday morning both topped forecasts, a sign of continued resilience in the US economy. Private payroll growth in July tallied 104,000 according to the latest data from ADP, more than the 77,000 jobs that private employers were expected to add and a rebound from the 23,000 jobs that were cut in the sector last month. "Our hiring and pay data are broadly indicative of a healthy economy," said Nela Richardson, chief economist at ADP. "Employers have grown more optimistic that consumers, the backbone of the economy, will remain resilient." Fifteen minutes after ADP's data was released, the BEA put out its first look at GDP growth in the second quarter, which showed the US economy grew at an annualized rate of 3% in the second quarter, faster than the 2.6% that had been expected by economists. In the first three months of the year, the US economy contracted at a rate of 0.5%. The BEA noted in its release the rebound in the second quarter was largely a result of decreased imports, which had weighed on growth in the first quarter as businesses increased orders ahead of expected tariffs. In response to the data, longer-term Treasury yields ticked slightly higher while futures remained little-changed ahead of the Federal Reserve's policy announcement set for 2:00 p.m. ET. In a post on Truth Social following the GDP data, President Trump again called on the Fed to cut rates. The central bank is widely expected to make no change to its interest rate policy later today. Premarket trending tickers: Novo Nordisk stock falls, Starbucks stock pops Here's a look at some of the top stocks trending in premarket trading: Novo Nordisk (NVO): The stock continued to sink on Wednesday, falling 4% premarket after a 21% wipeout on Tuesday. The drugmaker cut its full-year sales and operating profit guidance again, related to lower growth expectations for its diabetes and weight-loss drugs, Wegovy and Ozempic. Eli Lilly stock also fell Tuesday but was up 1% Wednesday morning. Starbucks (SBUX): Shares of the coffee giant popped 5% premarket after the company reported its sixth straight quarterly sales decline. But things weren't as bad as investors feared, and CEO Brian Niccol assured Wall Street that the company was "ahead of schedule" in its turnaround plan. V.F. Corp (VFC): The Vans parent's stock soared nearly 20% after the company beat first quarter revenue estimates on Wednesday, aided by an uptick in demand for its apparel and footwear products. Palo Alto Networks (PANW): The software company is in final talks to acquire Israeli cybersecurity provider CyberArk, the Wall Street Journal reported, and the deal could be finalized as early as this week. The deal could place a value north of $20 billion on CyberArk, potentially making it one of the largest tech takeovers this year. Shares of Palo Alto Networks rose 0.4% in premarket trading. Meta (META) and Microsoft (MSFT) stocks rose modestly ahead of their quarterly results, which are set to be released after the closing bell on Wednesday. Investors will be looking to the two Big Tech companies for signs of AI sales growth and monetization. Read live coverage of corporate earnings here. Here's a look at some of the top stocks trending in premarket trading: Novo Nordisk (NVO): The stock continued to sink on Wednesday, falling 4% premarket after a 21% wipeout on Tuesday. The drugmaker cut its full-year sales and operating profit guidance again, related to lower growth expectations for its diabetes and weight-loss drugs, Wegovy and Ozempic. Eli Lilly stock also fell Tuesday but was up 1% Wednesday morning. Starbucks (SBUX): Shares of the coffee giant popped 5% premarket after the company reported its sixth straight quarterly sales decline. But things weren't as bad as investors feared, and CEO Brian Niccol assured Wall Street that the company was "ahead of schedule" in its turnaround plan. V.F. Corp (VFC): The Vans parent's stock soared nearly 20% after the company beat first quarter revenue estimates on Wednesday, aided by an uptick in demand for its apparel and footwear products. Palo Alto Networks (PANW): The software company is in final talks to acquire Israeli cybersecurity provider CyberArk, the Wall Street Journal reported, and the deal could be finalized as early as this week. The deal could place a value north of $20 billion on CyberArk, potentially making it one of the largest tech takeovers this year. Shares of Palo Alto Networks rose 0.4% in premarket trading. Meta (META) and Microsoft (MSFT) stocks rose modestly ahead of their quarterly results, which are set to be released after the closing bell on Wednesday. Investors will be looking to the two Big Tech companies for signs of AI sales growth and monetization. Read live coverage of corporate earnings here. A divided Fed is expected to hold rates steady, defying Trump's calls for a cut The Federal Reserve is widely expected to hold interest rates steady on Wednesday, though the central bank remains internally divided over the path of monetary policy amid the Trump administration's pressure on the Fed. Yahoo Finance's Jennifer Schonberger reports: Read more here. The Federal Reserve is widely expected to hold interest rates steady on Wednesday, though the central bank remains internally divided over the path of monetary policy amid the Trump administration's pressure on the Fed. Yahoo Finance's Jennifer Schonberger reports: Read more here. Whirlpool is championing the tariffs that have hammered its quarter Yahoo Finance's Hamza Shaban digs into the tariffs story for Whirlpool (WHR) in today's Morning Brief: Read more here on why Whirlpool is looking past tariff setbacks. Yahoo Finance's Hamza Shaban digs into the tariffs story for Whirlpool (WHR) in today's Morning Brief: Read more here on why Whirlpool is looking past tariff setbacks. Good morning. Here's what's happening today. Economic data: Federal Reserve monetary policy decision; GDP annualized; ADP private payrolls (July); (second quarter); Pending home sales, (June); MBA Mortgage Applications (July 25); Minnesota Chicago PMI (July) Earnings: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Here are some of the biggest stories you may have missed overnight and early this morning: Fed set to hold rates steady, defying Trump's call for a cut Whirlpool is championing the tariffs that have hammered its quarter Meta to report Q2 earnings amid AI investment push Microsoft to report Q4 earnings as Wall Street looks for continued AI growth Deal-hunting Americans are putting corporates on watch Trump eyes 25% India tariff, US-China truce in the balance Wall Street's riding high on relief, not results: Strategist Tesla signs $4.3B battery deal, cuts reliance on China Economic data: Federal Reserve monetary policy decision; GDP annualized; ADP private payrolls (July); (second quarter); Pending home sales, (June); MBA Mortgage Applications (July 25); Minnesota Chicago PMI (July) Earnings: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Here are some of the biggest stories you may have missed overnight and early this morning: Fed set to hold rates steady, defying Trump's call for a cut Whirlpool is championing the tariffs that have hammered its quarter Meta to report Q2 earnings amid AI investment push Microsoft to report Q4 earnings as Wall Street looks for continued AI growth Deal-hunting Americans are putting corporates on watch Trump eyes 25% India tariff, US-China truce in the balance Wall Street's riding high on relief, not results: Strategist Tesla signs $4.3B battery deal, cuts reliance on China Meta and Microsoft are set to kick off this week's Big Tech earnings Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring and spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring and spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Trending tickers: Seagate, Avis and Sarepta Here are some top stocks trending on Yahoo Finance in premarket trading: Seagate Technology (STX) shares fell more than 6% on Wednesday before the bell after the company's first-quarter revenue forecast fell below Wall Street estimates on Tuesday. Seagate earnings were hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market. Avis (CAR) stock fell 5% premarket following the car rental company's earnings results on Tuesday. It was also announced that Alphabet (GOOG, GOOGL)-owned company Waymo plans to launch a robotaxi service next year in Dallas and will partner with Avis Budget Group to manage its fleet of all-electric autonomous Jaguar I-Pace vehicles. Sarepta Therapeutics (SRPT) stock rose 10% in premarket trading on Wednesday following the news that it will now start shipping its top-selling muscular dystrophy therapy, Elevidys, after the US Food and Drug Administration (FDA) reversed its request for a voluntary pause late Monday. Here are some top stocks trending on Yahoo Finance in premarket trading: Seagate Technology (STX) shares fell more than 6% on Wednesday before the bell after the company's first-quarter revenue forecast fell below Wall Street estimates on Tuesday. Seagate earnings were hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market. Avis (CAR) stock fell 5% premarket following the car rental company's earnings results on Tuesday. It was also announced that Alphabet (GOOG, GOOGL)-owned company Waymo plans to launch a robotaxi service next year in Dallas and will partner with Avis Budget Group to manage its fleet of all-electric autonomous Jaguar I-Pace vehicles. Sarepta Therapeutics (SRPT) stock rose 10% in premarket trading on Wednesday following the news that it will now start shipping its top-selling muscular dystrophy therapy, Elevidys, after the US Food and Drug Administration (FDA) reversed its request for a voluntary pause late Monday. Starbucks stock pops after US sales fall less than feared Shares of Starbucks (SBUX) rose in premarket despite a quarterly profit miss after sales in the coffee chain's US outlets proved healthier than expected. Yahoo Finance's Brooke DiPalma reports: Read more here. Shares of Starbucks (SBUX) rose in premarket despite a quarterly profit miss after sales in the coffee chain's US outlets proved healthier than expected. Yahoo Finance's Brooke DiPalma reports: Read more here. Major Asian gauges see slight boost from US-China trade talks Markets across Asia saw tentative gains despite uncertainty in the aftermath of US-China trade talks. The two-day talks between the two economic powerhouses to discuss tariffs did not yield hard results, but representatives from both nations expressed positivity about the dialogue. Reuters reports: Read more here. Markets across Asia saw tentative gains despite uncertainty in the aftermath of US-China trade talks. The two-day talks between the two economic powerhouses to discuss tariffs did not yield hard results, but representatives from both nations expressed positivity about the dialogue. Reuters reports: Read more here. Samsung stock pops on Tesla deal Samsung Electronics ( has seen the benefits of a wave of market optimism following the unexpected announcement of a chipmaking deal with Tesla (TSLA) worth $16.5 billion. Bloomberg reports: Read more here. Samsung Electronics ( has seen the benefits of a wave of market optimism following the unexpected announcement of a chipmaking deal with Tesla (TSLA) worth $16.5 billion. Bloomberg reports: Read more here. Oil prices hold after Trump-Russia row Oil prices held gains overnight Tuesday after jumping 3% Monday, with supply issues in focus. Trump's continued pressure on Russia over the Ukraine war has raised concerns over how economic sanctions will impact the Slavic state's ability to produce oil at the current rate. Reuters reports: Read more here. Oil prices held gains overnight Tuesday after jumping 3% Monday, with supply issues in focus. Trump's continued pressure on Russia over the Ukraine war has raised concerns over how economic sanctions will impact the Slavic state's ability to produce oil at the current rate. Reuters reports: Read more here.
Yahoo
24 minutes ago
- Yahoo
Gucci owner Kering's Q2 2025 revenue plummets 18%
French luxury group Kering, owner of Gucci and Yves Saint Laurent, has reported a 18% downturn in its revenue for the second quarter (Q2) of 2025 to €3.7bn ($4.27bn), with a comparable basis decrease of 15%. This reported revenue includes a negative impact from currency fluctuations amounting to 3%. The company's directly operated retail network experienced a 16% drop in sales on a comparable basis, consistent with its first-quarter performance for the year. Within regional markets, North America saw a 10% reduction and Asia-Pacific witnessed a 19% decrease in sales, both showing some improvement over the previous quarter. However, Western Europe's sales decreased by 17%, and Japan faced a steeper decline of 29%, largely due to a significant fall-off in tourism. The French luxury house posted net income attributable to the group of €474m in the first half (H1) of the year. During the second quarter of 2025, Gucci experienced a 25% decrease in sales on a comparable basis, with its directly operated retail network sales falling 23%. Yves Saint Laurent also reported a downturn in the same period, with sales dropping 10% on a comparable basis and a 12% decline in its directly operated retail outlets. Conversely, Bottega Veneta saw a slight increase in revenue, with a 1% rise on a comparable basis. Kering's Other Houses showed a 16% decrease in revenue on a comparable basis during the second quarter, with varying results across individual brands. In the first half of 2025, Kering revenues fell 16% to €7.6bn. Kering chairman and CEO François-Henri Pinault stated: 'The first half of 2025 has been a period of momentous decisions for Kering. On the governance front, I recommended to the board of directors, which has agreed, that we entrust the role of Kering CEO to Luca de Meo, while I will retain the chairmanship. 'On the operational and financial fronts, in a particularly tough market environment, we continued to streamline our distribution and cost base, and, executing on our roadmap, we took decisive steps to strengthen our financial structure. Though the numbers we are reporting remain well below our potential, we are certain that our comprehensive efforts of the past two years have set healthy foundations for the next stages in Kering's development.' In response to an unpredictable economic and geopolitical landscape, Kering states that it is actively pursuing its strategic goals focused on sustainable profitability and growth. The group is intensifying efforts to foster the expansion and success of its brands while firmly committing to enhancing operational efficiency. "Gucci owner Kering's Q2 2025 revenue plummets 18%" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Yahoo
24 minutes ago
- Yahoo
Wingstop Shares Soar on Robust Q2 Performance, Higher Growth Projections
Shares of Wingstop (WING) surged more than 25% Wednesday after the chicken chain posted better-than-expected second-quarter results and raised its global unit growth outlook. The Dallas-based company reported adjusted earnings per share of $1.00 on revenue that increased 12% year-over-year to $174.3 million. Analysts polled by Visible Alpha had projected $0.88 and $173.4 million, respectively. Systemwide sales of $1.34 billion also topped estimates, while company-owned domestic same-store sales rose 3.6% when analysts were looking for a decline of 2.7%. Wingstop's Q2 results "showcase the strength of our unit economics and returns our brand partners are seeing for their businesses," CEO Michael Skipworth said. Wingstop increased its full-year global unit growth outlook to a range of 17% to 18% from the prior 16% to 17%. Wingstop shares popped 25% in recent trading to around $363. Bank of America analysts raised their price target for the stock to $430 from $360 last month, saying the company is growing more efficient and that its sales may benefit from loyalty and sports marketing pushes. Read the original article on Investopedia Sign in to access your portfolio
