This Humanoid Robot Can Lift 220 Pounds But Has Super-Sensitive Skin
Neura Robotics officially unveiled the third generation of its 4NE-1 humanoid robot this week, along with a household robot named MiPa, an open robotics ecosystem called the Neuraverse, and a vision for an app store for robots. The 4NE-1 humanoid robot is powerful but also sensitive: able to lift more than any other humanoid robot I've seen, but also able to sense human touch.
Additionally, Neura said it plans to ship 5,000,000 robots of varying kinds by 2030–significantly more than the 100,000 Figure plans to ship –and that the first shipping 4NE-1 humanoid robots would be delivered this year.
'We are excited to launch a series of robots,' CEO David Reger told me last week on the TechFirst podcast. 'There is also a household device MiPa coming, and also new other industrial robot types, but in the end I think the core is actually the Neuraverse platform, which is combining all of this on one platform and makes it actually scalable and reachable to reach the five million humanoid robots on this planet.'
The big news on the hardware side is a full launch of 4NE-1, which Reger says is now production ready. This is a beast of a humanoid robot, with 100kg or 220-pound lift capacity with its legs, and 10kg or 22 pounds with its hands. After teasing this launch in March , Neura delivered.
As specced by the company, 4NE-1 is a technological marvel, with seven cameras, LIDAR, and much more. It will be capable of doing a backflip, Reger says, which not only summons up visions of Boston Dynamics' humanoid robots, but also speaks to speed coupled with power.
4NE-1 is one of the first humanoid robots that will have skin. While Neura isn't revealing too many details about the skin on 4NE-1, based on what he did say, it sounds like a capacitive touch sensor capability like that on your smartphone's screen. It can sense near touch, actual touch, and the strength or power of that touch. Interestingly, it will be applied via a spray-on process, and the result won't be visually distinguishable from the rest of the robot. And while it won't cover the whole robot, it likely will be on the hands, arms, and torso.
Why put skin on a robot?
It's critical for how Neura wants humanoid robots to interact with and work with humans safely in close quarters.
'The skin is actually … of our biggest gifts,' Reger says. "Having the ability to have the feeling of touch gives you a complete different way of how humans interact with each other.'
4NE-1's skin will sense proximity before actual touch, he added, making interactions safer, more precise, and emotionally intelligent.
While the hardware news is always the headline-grabber, probably the more important news is the backend technology.
That includes Neura's Omnisensor technology, which fuses location and spatial awareness from seven cameras, a LIDAR system, and even a microphone to help each 4NE-1 unit know where it is, proximity to objects and humans, and how to get what it needs while avoiding what it should not hit.
Neura Robotics' third-generation 4NE-1 humanoid robot Neura Robotics
Integrating all that data will be some fairly serious onboard technology. Reger didn't say what kind of CPUs or GPUs 4NE-1 will include, but it is worth noting that Nvidia is a technology partner of Neura Robotics. Neura is also partnering with Nvidia on 'robot gyms' where robots learn tasks and develop abilities.
Another major piece of new technology supporting Neura's robotic roll-out is the 'Neuraverse.'
Neuraverse is an operating system, a development platform for robotics, and an app store for skills, abilities, and even microservices that anyone can come to, build capabilities, and release them for sale. What one robot learns, all others can know instantly. Developers and companies employing humanoid robots can buy, sell, or offer for free abilities like welding specific parts or building a specific product.
'We are fundamentally changing how people interact with machines,' says Reger. "Our Neuraverse is the product that connects everything: the operating system of the robotics era."
MiPa is a wheeled personal assistant robot John Koetsier
Finally, Neura also unveiled MiPa, a wheeled robot that will be more affordable for the home market. While anyone can use it, one specific designed use case is assisting the elderly with being able to remain in their own homes and age in place, Reger says.
Neura calls MiPa 'the world's first cognitive household and service robot suitable for real everyday use.' MiPa will be able to vacuum, unload dishwashers, clean up rooms, and monitor health signs. In fact, Neura says, MiPa supports IoT and health device standards and can connect with wearables to collect data, analyze sleep, and more.
As all of Neura's other robots, MiPa will be connected to the Neuraverse, meaning it can learn new skills instantly from other robots and apply them locally.
Neura is entering an increasingly crowded humanoid robot market that has yet to fully deliver on its promise of an always-on, cheap, capable, and reliable workforce, but 4NE-1 is a compelling entrant. I'm not certain that 4NE-1 delivers on the company's vision of having the most capable humanoid on the planet, but it's a contender. If humanoid robots is our version of the space race, as Apptronik CEO Jeff Cardenas told me recently, Neura Robotics is Europe's leading challenger.
What we haven't seen yet is video on how 4NE-1 walks and moves, which will be critical for starting to understand how capable this robot is in a factory or warehouse.
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Stock market today: Dow rises, S&P 500, Nasdaq slide as tech stocks slip again amid rate-cut uncertainty
US stocks mostly slid on Wednesday, continuing a bruising stretch for tech stocks as investors weighed the latest retail earnings and assessed Federal Reserve minutes for clues on interest-rate cuts. The Dow Jones Industrial Average (^DJI) closed slightly higher, while the S&P 500 (^GSPC) slipped 0.2%. The tech-heavy Nasdaq Composite (^IXIC) led the losses, declining about 0.7%. The Nasdaq had been down nearly 2% earlier in the session before recovering. After a nearly 10% drop on Tuesday, Palantir (PLTR) fell another 1% in afternoon trade after slipping as much as 9% earlier in the day. The tech-led sell-off has put markets on edge, as investors rotate out of riskier stocks into previously lagging sectors amid concerns about the AI boom's staying power. Meanwhile, Wednesday's release of minutes from the Fed's July meeting showed the two policymakers who voted against the decision to leave rates unchanged appeared largely alone in that opinion. Investors are eager for a sense of where policymakers stand on interest rate cuts after economic data this month revealed they face a tricky dilemma between a weakening labor market and stubborn inflation. Attention is also on the latest batch of big retail earnings, with Target's (TGT) results the highlight on Wednesday. Target eked out a profit beat and held to its guidance, but pressures from tariffs and a squeezed consumer added up to another downbeat quarter — and will pose challenges for newly announced CEO Michael Fiddelke. Its shares sank 6%. Next up are Walmart (WMT) earnings on Thursday, watched for further signs of how companies and consumers are handing President Trump's tariffs. Read more: The latest on Trump's tariffs The main event for Wall Street lands on Friday, when Federal Reserve Chair Jerome Powell will deliver remarks at the Jackson Hole symposium in Wyoming. Tech, chip stock sell-off continues as AI bubble fears mount Yahoo Finance's Laura Bratton reports: Tech stocks fell for a second day on Wednesday as investors sold off a slew of tech names amid concerns over the sustainability of the AI boom and a recent market rotation away from some of this year's biggest winners. Among the Magnificent Seven Big Tech stocks, Nvidia (NVDA) was down about 0.3%, and Alphabet (GOOGL, GOOG) stock fell more than 1%. Amazon (AMZN) and Apple (AAPL), shares fell over 1%. Chip stocks Advanced Micro Devices (AMD) and Broadcom (AVGO) both fell less than 1%; Micron (MU) shares plummeted nearly 4%. Read more here. Retail traders double down on Palantir despite recent stock slide Palantir (PLTR) shares dropped another 1% on Wednesday following a sharp 9% slide on Tuesday. But retail investors saw the drop as a buying opportunity. According to data provided to Yahoo Finance from Vanda Research, small investors poured over $59 million into Palantir during Tuesday's sell-off, marking the biggest single-day retail inflow in a week. That came on top of another $40 million in inflows the day before. The surge in retail demand highlights a classic 'buy the dip' mentality that has dominated markets since the April bottom. In the days leading up to the sell-off, retail flows had been steady but more modest, averaging in the $20 to $30 million range, according to Vanda. The jump in activity suggests everyday traders were not scared off by the stock's sudden slide. Instead, they leaned in. But even with retail piling in, the stock still fell hard. That divergence underscores a familiar market reality: while retail can be a powerful force, institutional selling pressure often sets the tone. "Retail has gotten to be such a huge percentage of the market in terms of day-to-day trading," Interactive Brokers chief strategist Steve Sosnick told Yahoo Finance on Wednesday. "But if a series of institutions decide to reallocate their portfolio holdings, you're standing in the way of a much larger piece of momentum." "Collectively, a whole lot of small traders can push back, but if [institutions] are relentless about the selling, that's going to move the market lower.' Sosnick called Palantir's 9% plunge a 'shocking move down,' but also pointed out that the stock's meteoric rise has left it trading at "about as expensive of a stock as we've seen." James Hardie stock collapses 35% as US housing slump hits building materials Yahoo Finance's Ines Ferre reports: James Hardie (JHX) stock tumbled 35% on Wednesday as the maker of high-end home siding pointed to a weak US housing market and homeowners reluctant to spend on big projects. The stock, listed in the US and Australia, saw its biggest one-day drop since 1973, according to Bloomberg data. The company's profit declined 28% year over year during its fiscal first quarter. Net sales tumbled 9% over the same period. "Uncertainty is a common thread throughout conversations with customer and contractor partners," CEO Aaron Erter said during the company's earnings call. James Hardie pointed to "softer demand," citing a slowdown in single-family construction activity, especially in the southern part of the US. Read more here. Fed minutes show majority of officials more concerned about inflation than employment Minutes from the Federal Reserve's July meeting showed the "majority" of officials were more concerned about the upside risk to inflation than downside risks to the Fed's mandate for maximum employment. "Regarding upside risks to inflation, participants pointed to the uncertain effects of tariffs and the possibility of inflation expectations becoming unanchored," the minutes read. "In addition to tariff-induced risks, potential downside risks to employment mentioned by participants included a possible tightening of financial conditions due to a rise in risk premiums, a more substantial deterioration in the housing market, and the risk that the increased use of AI in the workplace may lower employment." Read more about the Fed minutes here. Eight sectors are outperforming the S&P 500 on Wednesday Citi head of US equity trading strategy Stuart Kaiser noted on Tuesday that the recent pain the stock market has "remained localized." And that's holding true on Wednesday too despite a roughly 1% decline in the Nasdaq Composite. The pain is mostly in technology and other related areas of the market with eight of 11 sectors in the S&P 500 (^GSPC)outperforming the benchmark index. While the size of tech in the index is pulling down the overall S&P 500 there are actually still 265 stocks in positive territory with a little over two hours left in the trading session. For now the rotation in the market isn't shaking a bullish stance from Kaiser who remains positive on US equities with a "quality preference." Below is a look at the sector action thus far in Wednesday's trade. Google unveils latest Pixel phones, including foldable Pixel 10 Pro Fold Yahoo Finance's Dan Howley reports: Google (GOOG, GOOGL) announced its latest line of Pixel smartphones on Wednesday as part of its Made By Google event in New York City on Wednesday. The Pixel 10 lineup includes four phones: the Pixel 10, Pixel 10 Pro, Pixel 10 Pro XL, and Pixel 10 Pro Fold. The company also showed off its newest smartwatch, the Pixel Watch 4. The devices get Google's latest Gemini AI capabilities, including the company's new Magic Cue for its smartphones and enhanced smart replies for the watch. Starting at $799, the entry-level Pixel 10 now comes with three rear cameras, up from two. That includes a 5x telephoto camera. Inside, the 6.3-inch phone gets Google's latest Tensor G5 processor, 12GB of RAM, and upwards of 256GB of storage. The Pixel 10 Pro starts at $999 and gets a sharper 6.3-inch display and more-advanced triple-camera setup. And while the phone packs the same Tensor G5 processor as the standard Pixel 10, the Pro sports 16GB of RAM rather than 12GB and offers up to 512GB of storage. Read more here. Hertz stock jumps on deal to sell its used cars on Amazon Yahoo Finance's Pras Subramanian reports: Rental car firm Hertz (HTZ) struck a deal with Amazon Autos (AMZN) on Wednesday to sell some of its used car inventory. The company said this will make it easier for customers to purchase cars from its fleet. Starting today, customers can search Amazon Autos to browse, finance, and purchase from thousands of used Hertz fleet vehicles from brands like Ford, Toyota, Chevrolet, Nissan, and others. Hertz Car Sales, the rental car firm's used car sales arm, will be the first fleet dealer on Amazon Autos. Hertz said sales will begin in the Dallas, Houston, Los Angeles, and Seattle metro areas, with plans to expand to Hertz Car Sales' 45 locations nationwide. After customers complete their purchase online, they can pick up the vehicles at Hertz locations in those cities. Read more here. KeyBanc warns China headwinds could prompt an Nvidia earnings miss Yahoo Finance's Francisco Velasquez reports: Read more here. Big Tech is getting hammered again Tuesday's market action was all about isolated selling in some of the market's biggest winners. Wednesday's early session has brought more of the same, as Big Tech is clearly leading the selling action once more. After a nearly 10% drop on Tuesday, Palantir (PLTR) fell another 7% in early trade. Meanwhile, AI chip leaders Nvidia (NVDA) and Broadcom (AVGO) each dropped more than 3%. Trump says Fed governor Cook 'must resign' as pressure campaign on central bank continues President Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign as the public pressure on the central bank continues to build. "Cook must resign, now!!!" Trump wrote on his social media platform Truth Social Wednesday morning with a link to a Bloomberg report on a letter sent by Bill Pulte. The Federal Housing Finance Agency head has reportedly urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages. Pulte wrote in a letter dated Aug. 15 that Cook 'falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.' The President's call for Cook to resign comes as pressure on the Fed continues amid ongoing changes on the Fed's Board of Governors. Read more here. Nasdaq leads indexes lower again at the open US stocks were mixed on Wednesday after a bruising day for tech stocks, as investors weighed the latest retail earnings and waited for Federal Reserve minutes to provide clues to interest rate cuts. The Dow Jones Industrial Average (^DJI) was up about 0.1%, while the S&P 500 (^GSPC) slipped about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) fell roughly 0.4%, after weakness in the likes of Palantir (PLTR) and Nvidia (NVDA) dragged on the broader market on Tuesday. Post-earnings market movers: Target and La-Z-Boy stocks dive, Lowe's rises Here's a look at how Wall Street is reacting to a burst of earnings reports ahead of the opening bell on Wednesday: Target (TGT) stock dived more than 10%, facing its worst sell-off since early April. The retailer cleared a low bar of earnings expectations, but comparable sales continued to fall during the quarter. Lowe's (LOW) stock rose 2.5%. The home improvement retailer reported a return to same-store sales growth, echoing positive results from Home Depot (HD) on Tuesday. Home Depot stock fell 1.3% before the bell. Estée Lauder (EL) shares fell 5%. The beauty company's annual profit forecast disappointed and executives said they expect a $100 million headwind from tariffs. Baidu (BIDU) shares edged 0.2% lower. The Chinese search engine company reported a drop in second quarter revenue as strong growth in cloud services was offset by weakness in its core advertising business. Toll Brothers (TOL) stock added 0.45%. The homebuilder reported an earnings and revenue beat on Tuesday afternoon, though new orders were less than analysts' expected. La-Z-Boy (LZB) stock tanked 20% after the company missed estimates amid soft demand. Sales for its Joybird furniture brand declined 14%. Read more live coverage of corporate earnings here Hertz to sell used cars on Amazon, stock jumps Hertz (HTZ) stock rose over 10% after the car rental company announced it is teaming up with Amazon (AMZN) to sell pre-owned vehicles. Customers will be able to browse Hertz used car sales on Amazon, purchase vehicles online, and then pick them up at select Hertz locations. It will initially be offered in Dallas, Houston, Los Angeles, and Seattle, with plans to expand to 45 locations nationwide. Hertz sells pre-owned cars in addition to renting them out. The company is in the midst of a turnaround, and shares have outperformed this year with a 42% year-to-date rise. Read more here. Intel's advantages from a Trump deal could be worth as much as the money What would it take for Intel (INTC) to turn its business around? Yahoo Finance's Hamza Shaban digs into that question in today's Morning Brief. Read more here. This summer's hottest trend on Wall Street: 'Private for longer' Continuation funds have become hugely popular among America's biggest private fund managers this year. Yahoo Finance's David Hollerith breaks down why, and exactly how they work: Read more here. Palantir stock on track to extend losing streak Palantir stock (PLTR) looks like it may extend its losing streak to six trading days after reaching an all-time high. Shares fell 3% in premarket trading on Wednesday after a 9% decline on Tuesday. Since hitting $186.97 per share on Aug. 12, the stock is now trading around $153, putting it 18% off its record closing high. Investors rotating out of large-cap tech names and a bearish report from short seller Citron Research have weighed on the stock. Read more here. Target stock sinks after earnings eke out a beat, but sales keep falling Target's (TGT) results on Wednesday morning weren't as shockingly bad as for the first quarter, but the retailer is still struggling to find its place in the new economic norm of more discerning shoppers. Shares in the US retail giant sank 10% in premarket trading as the announcement of a new CEO still left investors wanting more. Yahoo Finance's Brian Sozzi reports: Read more here. Good morning. Here's what's happening today. Economic data: FOMC Minutes (July 30-31 meeting); MBA weekly mortgage applications Earnings: Target (TGT), Baidu (BIDU), Lowe's (LOW), TJX Companies (TJX), Estée Lauder (EL) Here are some of the biggest stories you may have missed overnight and early this morning: Target earnings miss the mark as sales keep falling Target will have a new CEO for the first time since 2014 Intel's Trump deal perks may rival the money Buffett effect still holds as UnitedHealth soars through August This summer's hottest trend on Wall Street: 'Private for longer' US housing warning sparks worst James Hardie selloff since 1973 US treasury chief says status quo with China 'working pretty well' Sales of foreign-branded phones in China down 31.3% in June: Data China exports of key rare-earth EV magnets hit 6-month high Target will have a new CEO... and he will not have it easy Target (TGT) is tapping a homegrown talent as its next CEO at one of the most pivotal moments in its 63-year history. The discounter announced that longtime CEO Brian Cornell's heavily groomed No. 2, Michael Fiddelke, will take over as CEO on Feb. 1, 2026. Cornell, who has been CEO of Target since August 2014, will slide into the executive chair position for an undetermined period of time. Fiddelke joined Target in 2003 as an intern and rose through the ranks to CFO and then COO. "I've had this conversation with the board for a number of years, and I've been in the role for 11 years. I'm going into my 12th now. I will actually turn 67 early next year, and I think it's time for me to step back, recharge, spend a lot more time with my family, a lot fewer nights in hotels, and be a great supporter of Michael and the team for the rest of my life," Cornell told me by video call while sitting next to Fiddelke at the company's Minneapolis headquarters. Fiddelke added, "I bleed Target red after 20 years here, and there's nothing more important to me than working with the incredible team that we have to chart the next chapter for Target. I mean, I've seen us in that 20 years at our best. I've seen us not at our best. When we're at our best, we are pretty darn tough to beat." To students of Target history such as myself, this decision isn't a surprise. For one, Fiddelke has been Cornell's right-hand man for several years now. It has become quite apparent over the past year that he was grooming Fiddelke to take over while also working behind the scenes to get board buy-in. I have gotten to know Fiddelke in recent years. He is a nice fella and has indeed earned the opportunity to sit in the CEO seat. If this was any other time for Target, the decision would probably be celebrated. It's not often an intern at a company becomes its CEO. The only comparable story I can think of is Walmart (WMT) CEO Doug McMillon going from truck loader at the retailer to CEO. But Fiddelke will unlikely have a honeymoon period, seeing as he has been there at Target during its past 24 months of struggles (which includes a weak second quarter). People I have talked to wanted an outsider as Target's next CEO, fresh eyes to come in and fix what is wrong (not unlike when Cornell was brought in back in 2014 — his career was mostly spent at Walmart and PepsiCo (PEP)). Fiddelke will be seen as a continuation of a strategy that hasn't been working. I asked him on the call how candid he plans to be in the early going on the strategy review, which is what all new leaders do. He sounded like he was ready to divert from Cornell's playbook and shake things up. He will have to do just that, and quickly, to win over a likely skeptical Wall Street. US tech stocks hit by concerns over future of AI boom Wall Street is digging into the factors behind this week's selloff in tech stocks, with many seeing it as a timely rotation out of riskier names. There are a few potential triggers, the Financial Times reports: Read more here (premium) Tech, chip stock sell-off continues as AI bubble fears mount Yahoo Finance's Laura Bratton reports: Tech stocks fell for a second day on Wednesday as investors sold off a slew of tech names amid concerns over the sustainability of the AI boom and a recent market rotation away from some of this year's biggest winners. Among the Magnificent Seven Big Tech stocks, Nvidia (NVDA) was down about 0.3%, and Alphabet (GOOGL, GOOG) stock fell more than 1%. Amazon (AMZN) and Apple (AAPL), shares fell over 1%. Chip stocks Advanced Micro Devices (AMD) and Broadcom (AVGO) both fell less than 1%; Micron (MU) shares plummeted nearly 4%. Read more here. Yahoo Finance's Laura Bratton reports: Tech stocks fell for a second day on Wednesday as investors sold off a slew of tech names amid concerns over the sustainability of the AI boom and a recent market rotation away from some of this year's biggest winners. Among the Magnificent Seven Big Tech stocks, Nvidia (NVDA) was down about 0.3%, and Alphabet (GOOGL, GOOG) stock fell more than 1%. Amazon (AMZN) and Apple (AAPL), shares fell over 1%. Chip stocks Advanced Micro Devices (AMD) and Broadcom (AVGO) both fell less than 1%; Micron (MU) shares plummeted nearly 4%. Read more here. Retail traders double down on Palantir despite recent stock slide Palantir (PLTR) shares dropped another 1% on Wednesday following a sharp 9% slide on Tuesday. But retail investors saw the drop as a buying opportunity. According to data provided to Yahoo Finance from Vanda Research, small investors poured over $59 million into Palantir during Tuesday's sell-off, marking the biggest single-day retail inflow in a week. That came on top of another $40 million in inflows the day before. The surge in retail demand highlights a classic 'buy the dip' mentality that has dominated markets since the April bottom. In the days leading up to the sell-off, retail flows had been steady but more modest, averaging in the $20 to $30 million range, according to Vanda. The jump in activity suggests everyday traders were not scared off by the stock's sudden slide. Instead, they leaned in. But even with retail piling in, the stock still fell hard. That divergence underscores a familiar market reality: while retail can be a powerful force, institutional selling pressure often sets the tone. "Retail has gotten to be such a huge percentage of the market in terms of day-to-day trading," Interactive Brokers chief strategist Steve Sosnick told Yahoo Finance on Wednesday. "But if a series of institutions decide to reallocate their portfolio holdings, you're standing in the way of a much larger piece of momentum." "Collectively, a whole lot of small traders can push back, but if [institutions] are relentless about the selling, that's going to move the market lower.' Sosnick called Palantir's 9% plunge a 'shocking move down,' but also pointed out that the stock's meteoric rise has left it trading at "about as expensive of a stock as we've seen." Palantir (PLTR) shares dropped another 1% on Wednesday following a sharp 9% slide on Tuesday. But retail investors saw the drop as a buying opportunity. According to data provided to Yahoo Finance from Vanda Research, small investors poured over $59 million into Palantir during Tuesday's sell-off, marking the biggest single-day retail inflow in a week. That came on top of another $40 million in inflows the day before. The surge in retail demand highlights a classic 'buy the dip' mentality that has dominated markets since the April bottom. In the days leading up to the sell-off, retail flows had been steady but more modest, averaging in the $20 to $30 million range, according to Vanda. The jump in activity suggests everyday traders were not scared off by the stock's sudden slide. Instead, they leaned in. But even with retail piling in, the stock still fell hard. That divergence underscores a familiar market reality: while retail can be a powerful force, institutional selling pressure often sets the tone. "Retail has gotten to be such a huge percentage of the market in terms of day-to-day trading," Interactive Brokers chief strategist Steve Sosnick told Yahoo Finance on Wednesday. "But if a series of institutions decide to reallocate their portfolio holdings, you're standing in the way of a much larger piece of momentum." "Collectively, a whole lot of small traders can push back, but if [institutions] are relentless about the selling, that's going to move the market lower.' Sosnick called Palantir's 9% plunge a 'shocking move down,' but also pointed out that the stock's meteoric rise has left it trading at "about as expensive of a stock as we've seen." James Hardie stock collapses 35% as US housing slump hits building materials Yahoo Finance's Ines Ferre reports: James Hardie (JHX) stock tumbled 35% on Wednesday as the maker of high-end home siding pointed to a weak US housing market and homeowners reluctant to spend on big projects. The stock, listed in the US and Australia, saw its biggest one-day drop since 1973, according to Bloomberg data. The company's profit declined 28% year over year during its fiscal first quarter. Net sales tumbled 9% over the same period. "Uncertainty is a common thread throughout conversations with customer and contractor partners," CEO Aaron Erter said during the company's earnings call. James Hardie pointed to "softer demand," citing a slowdown in single-family construction activity, especially in the southern part of the US. Read more here. Yahoo Finance's Ines Ferre reports: James Hardie (JHX) stock tumbled 35% on Wednesday as the maker of high-end home siding pointed to a weak US housing market and homeowners reluctant to spend on big projects. The stock, listed in the US and Australia, saw its biggest one-day drop since 1973, according to Bloomberg data. The company's profit declined 28% year over year during its fiscal first quarter. Net sales tumbled 9% over the same period. "Uncertainty is a common thread throughout conversations with customer and contractor partners," CEO Aaron Erter said during the company's earnings call. James Hardie pointed to "softer demand," citing a slowdown in single-family construction activity, especially in the southern part of the US. Read more here. Fed minutes show majority of officials more concerned about inflation than employment Minutes from the Federal Reserve's July meeting showed the "majority" of officials were more concerned about the upside risk to inflation than downside risks to the Fed's mandate for maximum employment. "Regarding upside risks to inflation, participants pointed to the uncertain effects of tariffs and the possibility of inflation expectations becoming unanchored," the minutes read. "In addition to tariff-induced risks, potential downside risks to employment mentioned by participants included a possible tightening of financial conditions due to a rise in risk premiums, a more substantial deterioration in the housing market, and the risk that the increased use of AI in the workplace may lower employment." Read more about the Fed minutes here. Minutes from the Federal Reserve's July meeting showed the "majority" of officials were more concerned about the upside risk to inflation than downside risks to the Fed's mandate for maximum employment. "Regarding upside risks to inflation, participants pointed to the uncertain effects of tariffs and the possibility of inflation expectations becoming unanchored," the minutes read. "In addition to tariff-induced risks, potential downside risks to employment mentioned by participants included a possible tightening of financial conditions due to a rise in risk premiums, a more substantial deterioration in the housing market, and the risk that the increased use of AI in the workplace may lower employment." Read more about the Fed minutes here. Eight sectors are outperforming the S&P 500 on Wednesday Citi head of US equity trading strategy Stuart Kaiser noted on Tuesday that the recent pain the stock market has "remained localized." And that's holding true on Wednesday too despite a roughly 1% decline in the Nasdaq Composite. The pain is mostly in technology and other related areas of the market with eight of 11 sectors in the S&P 500 (^GSPC)outperforming the benchmark index. While the size of tech in the index is pulling down the overall S&P 500 there are actually still 265 stocks in positive territory with a little over two hours left in the trading session. For now the rotation in the market isn't shaking a bullish stance from Kaiser who remains positive on US equities with a "quality preference." Below is a look at the sector action thus far in Wednesday's trade. Citi head of US equity trading strategy Stuart Kaiser noted on Tuesday that the recent pain the stock market has "remained localized." And that's holding true on Wednesday too despite a roughly 1% decline in the Nasdaq Composite. The pain is mostly in technology and other related areas of the market with eight of 11 sectors in the S&P 500 (^GSPC)outperforming the benchmark index. While the size of tech in the index is pulling down the overall S&P 500 there are actually still 265 stocks in positive territory with a little over two hours left in the trading session. For now the rotation in the market isn't shaking a bullish stance from Kaiser who remains positive on US equities with a "quality preference." Below is a look at the sector action thus far in Wednesday's trade. Google unveils latest Pixel phones, including foldable Pixel 10 Pro Fold Yahoo Finance's Dan Howley reports: Google (GOOG, GOOGL) announced its latest line of Pixel smartphones on Wednesday as part of its Made By Google event in New York City on Wednesday. The Pixel 10 lineup includes four phones: the Pixel 10, Pixel 10 Pro, Pixel 10 Pro XL, and Pixel 10 Pro Fold. The company also showed off its newest smartwatch, the Pixel Watch 4. The devices get Google's latest Gemini AI capabilities, including the company's new Magic Cue for its smartphones and enhanced smart replies for the watch. Starting at $799, the entry-level Pixel 10 now comes with three rear cameras, up from two. That includes a 5x telephoto camera. Inside, the 6.3-inch phone gets Google's latest Tensor G5 processor, 12GB of RAM, and upwards of 256GB of storage. The Pixel 10 Pro starts at $999 and gets a sharper 6.3-inch display and more-advanced triple-camera setup. And while the phone packs the same Tensor G5 processor as the standard Pixel 10, the Pro sports 16GB of RAM rather than 12GB and offers up to 512GB of storage. Read more here. Yahoo Finance's Dan Howley reports: Google (GOOG, GOOGL) announced its latest line of Pixel smartphones on Wednesday as part of its Made By Google event in New York City on Wednesday. The Pixel 10 lineup includes four phones: the Pixel 10, Pixel 10 Pro, Pixel 10 Pro XL, and Pixel 10 Pro Fold. The company also showed off its newest smartwatch, the Pixel Watch 4. The devices get Google's latest Gemini AI capabilities, including the company's new Magic Cue for its smartphones and enhanced smart replies for the watch. Starting at $799, the entry-level Pixel 10 now comes with three rear cameras, up from two. That includes a 5x telephoto camera. Inside, the 6.3-inch phone gets Google's latest Tensor G5 processor, 12GB of RAM, and upwards of 256GB of storage. The Pixel 10 Pro starts at $999 and gets a sharper 6.3-inch display and more-advanced triple-camera setup. And while the phone packs the same Tensor G5 processor as the standard Pixel 10, the Pro sports 16GB of RAM rather than 12GB and offers up to 512GB of storage. Read more here. Hertz stock jumps on deal to sell its used cars on Amazon Yahoo Finance's Pras Subramanian reports: Rental car firm Hertz (HTZ) struck a deal with Amazon Autos (AMZN) on Wednesday to sell some of its used car inventory. The company said this will make it easier for customers to purchase cars from its fleet. Starting today, customers can search Amazon Autos to browse, finance, and purchase from thousands of used Hertz fleet vehicles from brands like Ford, Toyota, Chevrolet, Nissan, and others. Hertz Car Sales, the rental car firm's used car sales arm, will be the first fleet dealer on Amazon Autos. Hertz said sales will begin in the Dallas, Houston, Los Angeles, and Seattle metro areas, with plans to expand to Hertz Car Sales' 45 locations nationwide. After customers complete their purchase online, they can pick up the vehicles at Hertz locations in those cities. Read more here. Yahoo Finance's Pras Subramanian reports: Rental car firm Hertz (HTZ) struck a deal with Amazon Autos (AMZN) on Wednesday to sell some of its used car inventory. The company said this will make it easier for customers to purchase cars from its fleet. Starting today, customers can search Amazon Autos to browse, finance, and purchase from thousands of used Hertz fleet vehicles from brands like Ford, Toyota, Chevrolet, Nissan, and others. Hertz Car Sales, the rental car firm's used car sales arm, will be the first fleet dealer on Amazon Autos. Hertz said sales will begin in the Dallas, Houston, Los Angeles, and Seattle metro areas, with plans to expand to Hertz Car Sales' 45 locations nationwide. After customers complete their purchase online, they can pick up the vehicles at Hertz locations in those cities. Read more here. KeyBanc warns China headwinds could prompt an Nvidia earnings miss Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Big Tech is getting hammered again Tuesday's market action was all about isolated selling in some of the market's biggest winners. Wednesday's early session has brought more of the same, as Big Tech is clearly leading the selling action once more. After a nearly 10% drop on Tuesday, Palantir (PLTR) fell another 7% in early trade. Meanwhile, AI chip leaders Nvidia (NVDA) and Broadcom (AVGO) each dropped more than 3%. Tuesday's market action was all about isolated selling in some of the market's biggest winners. Wednesday's early session has brought more of the same, as Big Tech is clearly leading the selling action once more. After a nearly 10% drop on Tuesday, Palantir (PLTR) fell another 7% in early trade. Meanwhile, AI chip leaders Nvidia (NVDA) and Broadcom (AVGO) each dropped more than 3%. Trump says Fed governor Cook 'must resign' as pressure campaign on central bank continues President Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign as the public pressure on the central bank continues to build. "Cook must resign, now!!!" Trump wrote on his social media platform Truth Social Wednesday morning with a link to a Bloomberg report on a letter sent by Bill Pulte. The Federal Housing Finance Agency head has reportedly urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages. Pulte wrote in a letter dated Aug. 15 that Cook 'falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.' The President's call for Cook to resign comes as pressure on the Fed continues amid ongoing changes on the Fed's Board of Governors. Read more here. President Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign as the public pressure on the central bank continues to build. "Cook must resign, now!!!" Trump wrote on his social media platform Truth Social Wednesday morning with a link to a Bloomberg report on a letter sent by Bill Pulte. The Federal Housing Finance Agency head has reportedly urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages. Pulte wrote in a letter dated Aug. 15 that Cook 'falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.' The President's call for Cook to resign comes as pressure on the Fed continues amid ongoing changes on the Fed's Board of Governors. Read more here. Nasdaq leads indexes lower again at the open US stocks were mixed on Wednesday after a bruising day for tech stocks, as investors weighed the latest retail earnings and waited for Federal Reserve minutes to provide clues to interest rate cuts. The Dow Jones Industrial Average (^DJI) was up about 0.1%, while the S&P 500 (^GSPC) slipped about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) fell roughly 0.4%, after weakness in the likes of Palantir (PLTR) and Nvidia (NVDA) dragged on the broader market on Tuesday. US stocks were mixed on Wednesday after a bruising day for tech stocks, as investors weighed the latest retail earnings and waited for Federal Reserve minutes to provide clues to interest rate cuts. The Dow Jones Industrial Average (^DJI) was up about 0.1%, while the S&P 500 (^GSPC) slipped about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) fell roughly 0.4%, after weakness in the likes of Palantir (PLTR) and Nvidia (NVDA) dragged on the broader market on Tuesday. Post-earnings market movers: Target and La-Z-Boy stocks dive, Lowe's rises Here's a look at how Wall Street is reacting to a burst of earnings reports ahead of the opening bell on Wednesday: Target (TGT) stock dived more than 10%, facing its worst sell-off since early April. The retailer cleared a low bar of earnings expectations, but comparable sales continued to fall during the quarter. Lowe's (LOW) stock rose 2.5%. The home improvement retailer reported a return to same-store sales growth, echoing positive results from Home Depot (HD) on Tuesday. Home Depot stock fell 1.3% before the bell. Estée Lauder (EL) shares fell 5%. The beauty company's annual profit forecast disappointed and executives said they expect a $100 million headwind from tariffs. Baidu (BIDU) shares edged 0.2% lower. The Chinese search engine company reported a drop in second quarter revenue as strong growth in cloud services was offset by weakness in its core advertising business. Toll Brothers (TOL) stock added 0.45%. The homebuilder reported an earnings and revenue beat on Tuesday afternoon, though new orders were less than analysts' expected. La-Z-Boy (LZB) stock tanked 20% after the company missed estimates amid soft demand. Sales for its Joybird furniture brand declined 14%. Read more live coverage of corporate earnings here Here's a look at how Wall Street is reacting to a burst of earnings reports ahead of the opening bell on Wednesday: Target (TGT) stock dived more than 10%, facing its worst sell-off since early April. The retailer cleared a low bar of earnings expectations, but comparable sales continued to fall during the quarter. Lowe's (LOW) stock rose 2.5%. The home improvement retailer reported a return to same-store sales growth, echoing positive results from Home Depot (HD) on Tuesday. Home Depot stock fell 1.3% before the bell. Estée Lauder (EL) shares fell 5%. The beauty company's annual profit forecast disappointed and executives said they expect a $100 million headwind from tariffs. Baidu (BIDU) shares edged 0.2% lower. The Chinese search engine company reported a drop in second quarter revenue as strong growth in cloud services was offset by weakness in its core advertising business. Toll Brothers (TOL) stock added 0.45%. The homebuilder reported an earnings and revenue beat on Tuesday afternoon, though new orders were less than analysts' expected. La-Z-Boy (LZB) stock tanked 20% after the company missed estimates amid soft demand. Sales for its Joybird furniture brand declined 14%. Read more live coverage of corporate earnings here Hertz to sell used cars on Amazon, stock jumps Hertz (HTZ) stock rose over 10% after the car rental company announced it is teaming up with Amazon (AMZN) to sell pre-owned vehicles. Customers will be able to browse Hertz used car sales on Amazon, purchase vehicles online, and then pick them up at select Hertz locations. It will initially be offered in Dallas, Houston, Los Angeles, and Seattle, with plans to expand to 45 locations nationwide. Hertz sells pre-owned cars in addition to renting them out. The company is in the midst of a turnaround, and shares have outperformed this year with a 42% year-to-date rise. Read more here. Hertz (HTZ) stock rose over 10% after the car rental company announced it is teaming up with Amazon (AMZN) to sell pre-owned vehicles. Customers will be able to browse Hertz used car sales on Amazon, purchase vehicles online, and then pick them up at select Hertz locations. It will initially be offered in Dallas, Houston, Los Angeles, and Seattle, with plans to expand to 45 locations nationwide. Hertz sells pre-owned cars in addition to renting them out. The company is in the midst of a turnaround, and shares have outperformed this year with a 42% year-to-date rise. Read more here. Intel's advantages from a Trump deal could be worth as much as the money What would it take for Intel (INTC) to turn its business around? Yahoo Finance's Hamza Shaban digs into that question in today's Morning Brief. Read more here. What would it take for Intel (INTC) to turn its business around? Yahoo Finance's Hamza Shaban digs into that question in today's Morning Brief. Read more here. This summer's hottest trend on Wall Street: 'Private for longer' Continuation funds have become hugely popular among America's biggest private fund managers this year. Yahoo Finance's David Hollerith breaks down why, and exactly how they work: Read more here. Continuation funds have become hugely popular among America's biggest private fund managers this year. Yahoo Finance's David Hollerith breaks down why, and exactly how they work: Read more here. Palantir stock on track to extend losing streak Palantir stock (PLTR) looks like it may extend its losing streak to six trading days after reaching an all-time high. Shares fell 3% in premarket trading on Wednesday after a 9% decline on Tuesday. Since hitting $186.97 per share on Aug. 12, the stock is now trading around $153, putting it 18% off its record closing high. Investors rotating out of large-cap tech names and a bearish report from short seller Citron Research have weighed on the stock. Read more here. Palantir stock (PLTR) looks like it may extend its losing streak to six trading days after reaching an all-time high. Shares fell 3% in premarket trading on Wednesday after a 9% decline on Tuesday. Since hitting $186.97 per share on Aug. 12, the stock is now trading around $153, putting it 18% off its record closing high. Investors rotating out of large-cap tech names and a bearish report from short seller Citron Research have weighed on the stock. Read more here. Target stock sinks after earnings eke out a beat, but sales keep falling Target's (TGT) results on Wednesday morning weren't as shockingly bad as for the first quarter, but the retailer is still struggling to find its place in the new economic norm of more discerning shoppers. Shares in the US retail giant sank 10% in premarket trading as the announcement of a new CEO still left investors wanting more. Yahoo Finance's Brian Sozzi reports: Read more here. Target's (TGT) results on Wednesday morning weren't as shockingly bad as for the first quarter, but the retailer is still struggling to find its place in the new economic norm of more discerning shoppers. Shares in the US retail giant sank 10% in premarket trading as the announcement of a new CEO still left investors wanting more. Yahoo Finance's Brian Sozzi reports: Read more here. Good morning. Here's what's happening today. Economic data: FOMC Minutes (July 30-31 meeting); MBA weekly mortgage applications Earnings: Target (TGT), Baidu (BIDU), Lowe's (LOW), TJX Companies (TJX), Estée Lauder (EL) Here are some of the biggest stories you may have missed overnight and early this morning: Target earnings miss the mark as sales keep falling Target will have a new CEO for the first time since 2014 Intel's Trump deal perks may rival the money Buffett effect still holds as UnitedHealth soars through August This summer's hottest trend on Wall Street: 'Private for longer' US housing warning sparks worst James Hardie selloff since 1973 US treasury chief says status quo with China 'working pretty well' Sales of foreign-branded phones in China down 31.3% in June: Data China exports of key rare-earth EV magnets hit 6-month high Economic data: FOMC Minutes (July 30-31 meeting); MBA weekly mortgage applications Earnings: Target (TGT), Baidu (BIDU), Lowe's (LOW), TJX Companies (TJX), Estée Lauder (EL) Here are some of the biggest stories you may have missed overnight and early this morning: Target earnings miss the mark as sales keep falling Target will have a new CEO for the first time since 2014 Intel's Trump deal perks may rival the money Buffett effect still holds as UnitedHealth soars through August This summer's hottest trend on Wall Street: 'Private for longer' US housing warning sparks worst James Hardie selloff since 1973 US treasury chief says status quo with China 'working pretty well' Sales of foreign-branded phones in China down 31.3% in June: Data China exports of key rare-earth EV magnets hit 6-month high Target will have a new CEO... and he will not have it easy Target (TGT) is tapping a homegrown talent as its next CEO at one of the most pivotal moments in its 63-year history. The discounter announced that longtime CEO Brian Cornell's heavily groomed No. 2, Michael Fiddelke, will take over as CEO on Feb. 1, 2026. Cornell, who has been CEO of Target since August 2014, will slide into the executive chair position for an undetermined period of time. Fiddelke joined Target in 2003 as an intern and rose through the ranks to CFO and then COO. "I've had this conversation with the board for a number of years, and I've been in the role for 11 years. I'm going into my 12th now. I will actually turn 67 early next year, and I think it's time for me to step back, recharge, spend a lot more time with my family, a lot fewer nights in hotels, and be a great supporter of Michael and the team for the rest of my life," Cornell told me by video call while sitting next to Fiddelke at the company's Minneapolis headquarters. Fiddelke added, "I bleed Target red after 20 years here, and there's nothing more important to me than working with the incredible team that we have to chart the next chapter for Target. I mean, I've seen us in that 20 years at our best. I've seen us not at our best. When we're at our best, we are pretty darn tough to beat." To students of Target history such as myself, this decision isn't a surprise. For one, Fiddelke has been Cornell's right-hand man for several years now. It has become quite apparent over the past year that he was grooming Fiddelke to take over while also working behind the scenes to get board buy-in. I have gotten to know Fiddelke in recent years. He is a nice fella and has indeed earned the opportunity to sit in the CEO seat. If this was any other time for Target, the decision would probably be celebrated. It's not often an intern at a company becomes its CEO. The only comparable story I can think of is Walmart (WMT) CEO Doug McMillon going from truck loader at the retailer to CEO. But Fiddelke will unlikely have a honeymoon period, seeing as he has been there at Target during its past 24 months of struggles (which includes a weak second quarter). People I have talked to wanted an outsider as Target's next CEO, fresh eyes to come in and fix what is wrong (not unlike when Cornell was brought in back in 2014 — his career was mostly spent at Walmart and PepsiCo (PEP)). Fiddelke will be seen as a continuation of a strategy that hasn't been working. I asked him on the call how candid he plans to be in the early going on the strategy review, which is what all new leaders do. He sounded like he was ready to divert from Cornell's playbook and shake things up. He will have to do just that, and quickly, to win over a likely skeptical Wall Street. Target (TGT) is tapping a homegrown talent as its next CEO at one of the most pivotal moments in its 63-year history. The discounter announced that longtime CEO Brian Cornell's heavily groomed No. 2, Michael Fiddelke, will take over as CEO on Feb. 1, 2026. Cornell, who has been CEO of Target since August 2014, will slide into the executive chair position for an undetermined period of time. Fiddelke joined Target in 2003 as an intern and rose through the ranks to CFO and then COO. "I've had this conversation with the board for a number of years, and I've been in the role for 11 years. I'm going into my 12th now. I will actually turn 67 early next year, and I think it's time for me to step back, recharge, spend a lot more time with my family, a lot fewer nights in hotels, and be a great supporter of Michael and the team for the rest of my life," Cornell told me by video call while sitting next to Fiddelke at the company's Minneapolis headquarters. Fiddelke added, "I bleed Target red after 20 years here, and there's nothing more important to me than working with the incredible team that we have to chart the next chapter for Target. I mean, I've seen us in that 20 years at our best. I've seen us not at our best. When we're at our best, we are pretty darn tough to beat." To students of Target history such as myself, this decision isn't a surprise. For one, Fiddelke has been Cornell's right-hand man for several years now. It has become quite apparent over the past year that he was grooming Fiddelke to take over while also working behind the scenes to get board buy-in. I have gotten to know Fiddelke in recent years. He is a nice fella and has indeed earned the opportunity to sit in the CEO seat. If this was any other time for Target, the decision would probably be celebrated. It's not often an intern at a company becomes its CEO. The only comparable story I can think of is Walmart (WMT) CEO Doug McMillon going from truck loader at the retailer to CEO. But Fiddelke will unlikely have a honeymoon period, seeing as he has been there at Target during its past 24 months of struggles (which includes a weak second quarter). People I have talked to wanted an outsider as Target's next CEO, fresh eyes to come in and fix what is wrong (not unlike when Cornell was brought in back in 2014 — his career was mostly spent at Walmart and PepsiCo (PEP)). Fiddelke will be seen as a continuation of a strategy that hasn't been working. I asked him on the call how candid he plans to be in the early going on the strategy review, which is what all new leaders do. He sounded like he was ready to divert from Cornell's playbook and shake things up. He will have to do just that, and quickly, to win over a likely skeptical Wall Street. US tech stocks hit by concerns over future of AI boom Wall Street is digging into the factors behind this week's selloff in tech stocks, with many seeing it as a timely rotation out of riskier names. There are a few potential triggers, the Financial Times reports: Read more here (premium) Wall Street is digging into the factors behind this week's selloff in tech stocks, with many seeing it as a timely rotation out of riskier names. There are a few potential triggers, the Financial Times reports: Read more here (premium) Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
6 minutes ago
- Yahoo
Zealand Pharma major shareholder announcement: Van Herk Investments B.V.
Company announcement – No. 19 / 2025 Zealand Pharma major shareholder announcement: Van Herk Investments B.V. Copenhagen, Denmark, August 20, 2025 – Zealand Pharma A/S ('Zealand') (NASDAQ: ZEAL) (CVR-no. 20045078), a biotechnology company focused on the discovery and development of innovative peptide-based medicines, today reports receipt on 20 August 2025 of notification pursuant to Section 38 of the Danish Capital Markets Act from the following major shareholder: As of 19 August 2025, Van Herk Investments B.V. (Dutch registration no. 59055057) holds nominally 7,115,191 shares (each share carrying one vote) in Zealand Pharma A/S, corresponding to 9.973% of the total share capital and 9.973% of the total voting rights in Zealand Pharma A/S. Van Herk Investments B.V. is 100% owned by Van Herk Investments THI B.V., which is 100% owned by Van Herk Private Equity Investments B.V. (Dutch registration no. 58894543). Ultimately, Van Herk Private Equity Investments B.V. is owned and controlled by Mr. Adrianus van Herk. Van Herk Management Services B.V. (Dutch registration no. 24377325) controls and exercises the voting rights on behalf of Van Herk Investments B.V., and accordingly, Van Herk Management Services B.V controls and exercises the voting rights on nominally 7,115,191 shares (each share carrying one vote), corresponding to 9.973% of the total share capital and 9.973% of the total voting rights in Zealand Pharma A/S. Van Herk Management Services B.V., is controlled by OGBB A. van Herk B.V. (Dutch registration no. 24160906), which is controlled by A. van Herk Holding B.V. (Dutch registration no. 24160780), which is ultimately controlled by Mr. Adrianus van Herk. Please see further details in the attached notification forms. # # # About Zealand Pharma Zealand Pharma A/S (Nasdaq: ZEAL) ("Zealand") is a biotechnology company focused on the discovery and development of peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market and three candidates are in late-stage development. The company has development partnerships with a number of pharmaceutical companies as well as commercial partnerships for its marketed was founded in 1998 and is headquartered in Copenhagen, Denmark, with a presence in the United States. For more information about Zealand's business and activities, please visit ContactAdam Lange (Investors) Vice President, Investor Relations alange@ Neshat Ahmadi (Investors) Investor Relations Manager neahmadi@ Anna Krassowska (Investors and Media) Vice President, Investor Relations & Corporate Communications akrassowska@ Attachments 20250819 FSA - Standardformular english Van Herk Investments BV_signed 20250819 FSA - Standardformular english Van Herk Management Services BV_signedError 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
CNN
9 minutes ago
- CNN
AI and tech stocks slide as summer rally peters out
Tech news Investing Stocks AIFacebookTweetLink Follow Tech stocks were under pressure this week as Wall Street's AI enthusiasm slowed and investors adjusted portfolios after a strong summer rally. The Nasdaq Composite fell 0.67% on Wednesday after sliding 1.46% on Tuesday. The tech-heavy index was on track to snap back-to-back weeks of gains. Meanwhile, the broader S&P 500 fell 0.24% and posted its fourth day of losses in a row. The Dow hovered around the flatline. Tech stocks had steadily rallied in recent months, lifting the S&P 500 and Nasdaq to a streak of record highs. Now Wall Street is taking a breather while optimism about the AI boom is facing some friction. Palantir (PLTR), a star of the AI trade, fell 1.1% on Wednesday after falling 9.35% on Tuesday. Meanwhile, Nvidia (NVDA) edged lower by 0.14% on Wednesday after sliding 3.5% on Tuesday. 'Investors rotated out of high-momentum tech stocks, reflecting renewed jitters over the sustainability of the AI trade,' Ulrike Hoffmann-Buchardi, head of global equities at UBS, said in a note. Investors are also in wait-and-see mode ahead of a critical day for markets on Friday when Federal Reserve Chair Jerome Powell is set to deliver remarks at the Jackson Hole Economic Symposium. 'It's just a pause that may refresh as investors retrench and rethink how they want to position their tech dollars,' Rob Haworth, senior investment strategy director at US Bank Asset Management Group, told CNN. Powell's closely watched speech on Friday could provide signals about the Fed's potential rate-cutting path and comes at a key inflection points for markets after past months' ascent to record highs. Excitement about AI propelled markets higher in recent months, boosted by robust corporate earnings and enormous spending by companies like Meta and Microsoft. But Wall Street's eagerness was tested this week after Sam Altman, chief executive at OpenAI, said he thinks the market might be in a bubble. 'Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes,' Altman told reporters last week, according to The Verge. The OpenAI chief also said he thinks AI will provide value for the economy. 'Is AI the most important thing to happen in a very long time? My opinion is also yes,' he said. Also, researchers at MIT on Monday published a report detailing how the majority of companies testing new generative AI tools are seeing zero returns. While there was not an explicit catalyst for the decline of tech and AI stocks decline this week, investors said Altman's comments and the MIT report could be contributing to negative momentum. AI chip and semiconductor companies Advanced Micro Devices (AMD) and Marvell Technology (MRVL) were each down almost 7% this week. 'Altman's comments spooked some people when he talked about the AI bubble,' Dan Ives, head of global technology research at Wedbush Securities, told CNN. 'Tech stocks have had a massive run, so I think it's just typical that investors are starting to take some chips off the table going into Labor Day,' Ives said. 'But I believe it's going to be short lived.' Each of the Magnificent Seven tech stocks — Apple (AAPL), Alphabet (GOOGL), Amazon (AMZN), Meta (META), Microsoft (MSFT), Nvidia (NVDA) and Tesla (TSLA) — fell on both Tuesday and Wednesday, dragging down the broader market. As of Tuesday, they made up 33.5% of the S&P 500's total market value, according to S&P Dow Jones Indices, reflecting their outsized influence on the index's performance. 'Stocks have been on an absolute tear. Valuations have sprinted up,' said Ross Mayfield, an investment strategist at Baird. 'The fundamentals are good but not keeping pace with the price action.' 'I think along the way we'll see pockets of profit taking, even if it doesn't mark the end of the bull market in general,' Mayfield said. While tech dragged on the market, about 70% of stocks in the S&P 500 had closed higher on Tuesday, UBS' Hoffmann-Buchardi said. Sectors that outperformed included consumer staples, utilities and real estate. It's a sign that investors are shifting out of Big Tech and AI-related trades and toward more defensive stocks as they reassess the markets. Nvidia as of Monday had surged 93% since a low point in early April. 'We've been expecting this type of a pullback,' said Jay Hatfield, chief executive at Infrastructure Capital Advisors, who said he has taken down his exposure to tech in recent months. It's also the start of a historically weak season for stocks, Hatfield said. 'We're neutral on the market right now, but still really bullish for year end.' Palantir is still up 106% this year. But shares in Palantir are down six days in a row and had dropped as much as 9.8% on Wednesday before paring losses, reflecting the volatility in AI stocks. 'Now we're getting the downward momentum,' Hatfield said. 'Palantir is like the poster child for excessive valuation, and those investors are learning that the momentum works in both directions.'
