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9/11
12:48
Torm (TRMD), the Danish company operating a fleet of product tankers, saw its profits surge as escalating conflict between the US and Iran in the Strait of Hormuz led to a spike in energy prices.
12:48
The analysis highlights Oracle's strong Q1 FY2027 results, with revenue up 29.61% to $19.34 billion and cloud infrastructure revenue surging 121%. Analysts note the company booked over $30 billion in new AI contracts in a single quarter, runs GPU utilization at 97.9%, and has remaining performance obligations of $664 billion. They issued a “buy” rating and a $229 price target, implying 50% upside from current levels.
12:42
Cohen purchased 1 million Class A common shares on Thursday, according to an SEC filing. He now directly owns 39.3 million shares of GameStop.
12:30
CNBC analyst Mike Khouw noted that the 30-year U.S. government bond yield has clearly surpassed its 2023 high in recent weeks, rising another 7.6 basis points on September 11. As a result, options traders are actively betting on further declines in the U.S. long-term Treasury ETF (TLT). On September 10, TLT options trading volume nearly doubled, with put option volume being 3.3 times the average. There was a block trade (approximately $1.8 million) betting that TLT would fall below $80 before its October expiration. TLT closed at $80.78 on September 11, after touching a 52-week low of $80.665 during the session.
12:28
The US high-grade bond market saw a flurry of activity in the shortened trading week following the Labor Day holiday, with 30 deals totaling $57 billion issued on Tuesday and Wednesday alone. This strong momentum could make September the fourth consecutive month to set a new issuance record, following June, July, and August, which saw $184 billion, $137 billion, and $151 billion in issuance, respectively, all new historical highs for their respective months. The market anticipates September issuance to well exceed $200 billion, surpassing the $189 billion issued in the same period last year, which included Oracle's $18 billion AI-related bond offering. However, the current financing environment has changed; Oracle's notes due 2055, issued last year with a coupon rate of 5.95%, saw their yield rise to approximately 7.875% by September 10.
12:27
CPI Card Group (PMTS) stock fell 16.3% at 11:25 AM ET after its major shareholder, Parallel49 Equity, announced the sale of 2.3 million to 2.7 million shares at $21.50 per share, a 20% discount to yesterday's closing price.
12:17
Bitcoin briefly rebounded past $79,000 and US stocks turned green as US CPI inflation data met expectations.
12:15
24/7 Wall St. gives Qualcomm (QCOM) a "buy" rating with a price target of $240, representing a potential upside of 35%, based on growth in its automotive business and an AI infrastructure agreement with Amazon. Qualcomm CEO Cristiano Amon has set a goal for non-handset revenue to reach $40 billion by fiscal year 2029, aiming to offset the loss of revenue from Apple's modem business by fiscal year 2027. As part of the AI infrastructure agreement, Amazon received warrants from Qualcomm valued at $4 billion.
12:12
PayPal's new CEO, Enrique Lores, is reportedly developing a plan for the company to operate independently, rather than pursuing a sale (following previous acquisition offers exceeding $50 billion). Lores, who has been in the role for over six months, aims to revitalize underperforming businesses, launch new features, and cut billions in costs, but Wall Street's reaction has been subdued.
12:10
Preliminary survey results released by the University of Michigan on Friday showed that the US consumer sentiment index for September fell to 47.8 from 51.7 in August, lower than all economists' forecasts. Consumers' inflation expectations for the next year jumped from 4% to 4.6%, and long-term inflation expectations for 5 to 10 years also slightly increased to 3.4%. This decline in confidence was mainly due to gasoline prices rising to their highest level in September and the ongoing conflict between the US and Iran pushing up energy costs. The survey also showed that for the first time since 2023, most consumers expect the Federal Reserve to raise interest rates within the next year, reflecting deep market concerns about a resurgence of inflation. Additionally, satisfaction among Republican respondents with the government's economic management dropped to 35%, the lowest level since Donald Trump returned to the White House last year.
12:05
Cognizant (NASDAQ:CTSH) is promoting its plans to hire 1,500 U.S. college graduates and expand its AI-focused workforce to 15,000 people, with CEO Ravi Kumar S stating AI will create significantly more jobs than it displaces. However, this comes months after reports indicated the company plans to eliminate 12,000-15,000 jobs globally, primarily in India, as part of an AI-powered service delivery restructuring.
12:05
The analysis highlights Daraxonrasib as the first targeted therapy approved for metastatic pancreatic cancer, with clinical data showing it cut the risk of death by more than half. While Amgen reported nearly $36.7 billion in revenue and $7.7 billion in net income for FY 2025, Revolution Medicines' innovative potential makes it a more attractive long-term investment despite its current lack of revenue and widening losses.
12:04
Both tech giants recently delivered earnings, with Microsoft's Azure crossing $100 billion in annual revenue for fiscal 2026 and Alphabet's Google Cloud accelerating to 82% growth. Both are pouring cash into AI data centers, with Alphabet's aggressive capital expenditure flipping its free cash flow to negative $5.86 billion, leading to a suspended buyback and increased long-term debt. In contrast, Microsoft generated $19.64 billion in Q4 free cash flow. Analysts view Alphabet as the disruptor with momentum, while Microsoft defends its position.
11:54
The average individual data center load doubled from 150 to 300 megawatts (MW) between 2023 and 2024, significantly boosting regulated capital expenditures for utilities. Southern Company (NYSE:SO) has signed large-load agreements totaling over 17 gigawatts (GW) by the mid-2030s, including a 25-year electric-service contract with OpenAI for a site near Savannah, Georgia. Duke Energy (NYSE:DUK) has already secured 7.8 GW of data center electric service agreements and targets converting an additional 15.4 GW pipeline by the first half of 2027. Other utilities like WEC Energy Group (NYSE:WEC), Xcel Energy (NASDAQ:XEL), and Consolidated Edison (NYSE:ED) are also benefiting from this surge in demand, with Xcel Energy having signed a landmark Google data center agreement in Minnesota.
11:54
Smithfield Foods now expects its Fresh Pork business to swing to an adjusted operating loss in Q3 2026, with lower adjusted operating profit also anticipated from its Hog Production business. This outlook is primarily due to the further weakening of USDA pork cutout values, which has compressed the industry's processing spread. The company had previously cut its full-year 2026 sales and profit outlook in August, indicating a continued deterioration in its earnings trajectory.
11:48
Musk responded to Senator Bernie Sanders's call for a 5% wealth tax on the ultra-wealthy, arguing that most billionaires are cash-poor with the vast majority of their funds tied up in assets like stocks. Musk stated on X this week that his stake in SpaceX and Tesla comprises over 99% of his fortune, with cash holdings less than 0.1% of his net worth. Sanders had previously highlighted Musk's wealth, noting he owns more than the bottom half of Americans combined. Musk emphasized that his companies' success boosts the US economy and benefits all shareholders, including retirement programs. Other billionaires like Mark Cuban and Mr. Beast have echoed similar sentiments, pointing out that wealth taxes may not be an efficient way to raise significant revenue for national debt.
11:48
Analysts at 24/7 Wall St. have set a price target of $492 for TSMC (TSM), representing an upside of approximately 15% from its current share price of $428, and issued a "Buy" rating. The firm noted that TSMC's August revenue increased by 53% year-over-year, with strong AI chip demand from NVIDIA and Broadcom securing its advanced process orders. Meanwhile, Intel's foundry business losses mean TSMC lacks a true competitor. However, mass production of the 2-nanometer process could compress gross margins by 3 to 4 percentage points, and geopolitical risks are still not fully priced in.

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