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Major Averages Surge as Inflation Pressure Eases
The major averages closed sharply higher to end an otherwise down week. The rebound came as oil prices retreated from their recent highs, easing some of the inflation pressure that has pushed Treasury yields to multiyear highs.The August consumer price index report came in roughly in-line with expectations, with headline consumer prices rising 0.4% month over month and 3.4% from a year earlier, while core CPI increased 0.3% monthly and 2.4% annually. The firmer-than-expected core reading suggests underlying inflation remains sticky.Markets are now pricing about 90% odds of a 25-basis-point Fed hike next week, a dramatic change from the expectations for rate cuts that dominated the market earlier in the summer.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Oracleprovided areport for Q1Adobealso provided areport for Q3CopartACV Auctionsfor $10.50 per share in cash, representing an implied equity value of approximately $1.9BKrogerreportedand reiterated its FY26 adjusted earnings guidanceOpenAI CEO Sam Altman told staff the company could slow down the development of AI,2. WALL STREET CALLS:NuScale Powerto Sell from Neutral at UBSJPMorganChewyto Neutral, citing pressure on organic growthBarringtonCopartto Outperform from Market PerformInternational Paperto Buy at BofA following pullbackBernsteincoverage of Shopifywith an Outperform rating3. AROUND THE WEB:PayPalCEO Enrique Lores is planning to run the company as a standalone business after a proposed buyout valued at over $50B stalled, WSJ reportsBroadcom'sVMware licensing overhaul is drawing deeper EU antitrust scrutiny as regulators investigate whether changes to VMware's software licensing and pricing are harming cloud providers and their customers, Bloomberg reportsColgate-Palmoliveis weighing a sale of certain mass-market personal care brands, including Softsoap, Irish Spring, and Speed Stick, and is working with Goldman Sachson the process, Reuters reportsAlibabais set to lead a $300M investment in UniPat AI, valuing the company at $2.5B, Bloomberg reportsNvidiais facing DOJ scrutiny over whether its $17B non-exclusive Groq licensing deal and hiring of key executives were structured to avoid antitrust review, NY Times says4. MOVERS:Celesticagained in New York after announcing Chawla willof group president, global markets, and Ankenmann will succeed him as chief financial officerSPS Commerceincreased after Bloombergthe company is in talks to be acquired by GTCRDell Technologieswas higher after RBC Capitalcoverage of the stock with an Outperform ratingOklofell after entering into anfor up to $1BTenablewas lower after pricing its upsized5. EARNINGS/GUIDANCE:RH, provided guidance for Q3, and narrowed its outlook for FY26Ibex, with CEO Bob Dechant calling it a "record-breaking quarter"Zumiez, with EPS and revenue missing consensusReformationand provided guidance for FY26MoneyHero, with EPS and revenue lower year-over-yearINDEXES:The Dow rose 508.71, or 0.98%, to 52,572.81, the Nasdaq gained 251.31, or 0.96%, to 26,333.04, and the S&P 500 advanced 65.18, or 0.86%, to 7,656.88.
Major Averages Rebound as Oil Prices Retreat
The major averages were sharply higher near noon, curtailing some of this week's declines after four straight down sessions. The rebound comes as oil prices retreat roughly 3% from their recent highs, easing some of the inflation pressure that has pushed Treasury yields to multiyear highs.The August consumer price index report came in roughly in-line with expectations, with headline consumer prices rising 0.4% month over month and 3.4% from a year earlier, while core CPI increased 0.3% monthly and 2.4% annually. The firmer-than-expected core reading suggests underlying inflation remains sticky.Markets are now pricing a high probability of a 25-basis-point Fed hike next week, a dramatic change from the expectations for rate cuts that dominated the market earlier in the summer. The 10-year Treasury yield is hovering around 4.94%-4.96%, while the 30-year yield recently reached its highest level since 2004.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Oracleprovided areport for Q1Adobealso provided areport for Q3CopartACV Auctionsfor $10.50 per share in cash, representing an implied equity value of approximately $1.9BKrogerreportedand reiterated its FY26 adjusted earnings guidanceOpenAI CEO Sam Altman told staff the company could slow down the development of AI,2. WALL STREET CALLS:NuScale Power (SMR)to Sell from Neutral at UBSJPMorganChewyto Neutral, citing pressure on organic growthBarringtonCopartto Outperform from Market PerformInternational Paperto Buy at BofA following pullbackBernsteincoverage of Shopify (SHOP) with an Outperform rating3. AROUND THE WEB:Colgate-Palmoliveis weighing a sale of certain mass-market personal care brands, including Softsoap, Irish Spring, and Speed Stick, and is working with Goldman Sachson the process, Reuters reportsElon Musk's SpaceXhas filed a lawsuit against Texas Attorney General Ken Paxton and Grimes County, Texas in an effort to prohibit the release of records related to tax breaks the company received for Terafab, the semiconductor facility it is building near Houston, Business Insider saysNovartisinvestors will be increasing their scrutiny of the company's dealmaking strategy following setbacks to drugs acquired through mergers and acquisitions, Reuters reportsAlibabais set to lead a $300M investment in UniPat AI, valuing the company at $2.5B, Bloomberg reportsNvidiais facing DOJ scrutiny over whether its $17B non-exclusive Groq licensing deal and hiring of key executives were structured to avoid antitrust review, NY Times says4. MOVERS:Celesticagains in New York after announcing Chawla will assume the, global markets, and Ankenmann will succeed him as chief financial officerAlphatecincreases after itsDell Technologieshigher after RBC Capitalof the stock with an Outperform ratingOklofalls after entering into anfor up to $1BTenablelower after pricing itsof senior notes5. EARNINGS/GUIDANCE:RH, provided guidance for Q3, and narrowed its outlook for FY26Ibex, with CEO Bob Dechant calling it a "record-breaking quarter"Zumiez, with EPS and revenue missing consensusReformationand provided guidance for FY26MoneyHero, with EPS and revenue lower year-over-yearINDEXES:Near midday, the Dow was up 508.39, or 0.98%, to 52,572.49, the Nasdaq was up 304.74, or 1.17%, to 26,386.46, and the S&P 500 was up 76.82, or 1.01%, to 7,668.52.
Celestica Appoints Mandeep Chawla as Group President, Global Markets
Celestica announced executive leadership appointments. Effective October 1, Mandeep Chawla will assume the newly created role of group president, global markets, and Todd Ankenmann will succeed him as CFO. Chawla will oversee the company's commercial execution and global market expansion. Chawla has served as Celestica's CFO since 2017. Ankenmann joined Celestica in 2018 and currently serves as senior VP, finance.
Nvidia Informs Customers of 15% Price Increase for AI Servers
The major averages had a mixed day, with the Nasdaq and S&P 500 in the red as major chip stocks, including Micron, AMD, and Broadcom, were in decline. A key catalyst this week is Nvidia's earnings on Wednesday. Nvidia shares have already declined for five consecutive sessions, while some of its customers have reportedly been told that AI server prices could rise by more than 15% because of higher memory costs.Meanwhile, the U.S. is preparing new economic sanctions targeting Iran's trade partners, with Treasury Secretary Scott Bessent expected to provide details. Oil prices have pulled back despite the escalating tensions. There is also a new U.S.-Canada trade dispute to watch after trade negotiations broke down, adding another source of uncertainty for companies with significant North American supply chains and sales exposure.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiahas told some of its largest customers that prices of servers containing AI chips are going to increase over 15% in many cases as memory chip costs skyrocket,Meanwhile, Nvidia is in talks to invest in Perplexity at a valuation above $30B,Alibabaannounced theof 710,000,000 newly issued ordinary shares of the company to non-U.S. persons outside the United StatesnVent ElectricMaverick Power for $1.75BPDD Holdingsreported2. WALL STREET CALLS:Canada Gooseto Underweight from Overweight at Wells FargoUBSCelesticato Buy on 50% earnings growth to 2028Wall Street rolled out coverage of Jersey Mike's SubswithDardento Outperform from Neutral at BairdChipotleto Neutral from Outperform at Baird3. AROUND THE WEB:Polestar Automotivesaid it was blindsided by the U.S. Commerce Department's June ban on its vehicle sales over Chinese connected-car technology concerns, despite assurances it could remain alongside corporate cousin Volvo, WSJ reportsHims & Hershas been placed in Visa'sAcquirer Monitoring Program after a surge in weight-loss subscription disputes, adding scrutiny to its billing practices and creating potential operational and reputational risks, Bloomberg reportsTeslahas lost Shishuang Sun, its senior AI hardware engineer, to former Dojo startup DensityAI, highlighting continued talent attrition in critical chip design and system integration as Tesla ramps its in-house AI hardware efforts, Electrek saysIn a recently published report titled "XHLD: A Shady Underwriter's Pump & Dump on the Brink of T-12 Halting," Fugazi Research says TEN Holdings"is not a software company hiding inside an events business."Anthropic's bankers said the company could raise more than $100B in its IPO, which could value it at $2T, in recent discussions with potential investors, The New York Times reports4. MOVERS:Capricoradvanced after announcing thefor Deramiocel for its amendment reviewGeminigained after entering aBitminewas higher after reportingApplied Optoelectronicsfell afterof up to $600M in stockEos Energyclosed lower after entering a software and hardware5. EARNINGS/GUIDANCE:XPeng, with EPS and revenue missing consensusRoyal Bank of Canadatoon August 27Marvell Technologytoon August 27Crowdstriketoon August 26Salesforcetoon August 26INDEXES:The Dow rose 140.15, or 0.26%, to 53,417.16, the Nasdaq lost 200.26, or 0.76%, to 25,980.19, and the S&P 500 declined 21.51, or 0.28%, to 7,652.86.
Nasdaq and S&P 500 Decline as Nvidia Faces Price Hike
The major averages were mixed near noon, with the Nasdaq and S&P 500 in the red following a slide in Treasury yields and a drop in key tech names. Major chip stocks, including Micron, AMD, and Broadcom, were in decline while other tech names such as Coherent and Lumentum were also slipping.A key catalyst this week is Nvidia's earnings on Wednesday. Nvidia shares have already declined for five consecutive sessions, while some of its customers have reportedly been told that AI server prices could rise by more than 15% because of higher memory costs.Meanwhile, the U.S. is preparing new economic sanctions targeting Iran's trade partners, with Treasury Secretary Scott Bessent expected to provide details. Oil prices have pulled back despite the escalating tensions. There is also a new U.S.-Canada trade dispute to watch after trade negotiations broke down, adding another source of uncertainty for companies with significant North American supply chains and sales exposure.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiahas told some of its largest customers that prices of servers containing AI chips are going to increase over 15% in many cases as memory chip costs skyrocket,Meanwhile, Nvidia is in talks to invest in Perplexity at a valuation above $30B,Alibabaannouncedof 710,000,000 newly issued ordinary shares of the company to non-U.S. persons outside the United StatesnVent ElectricMaverick Power for $1.75BPDD Holdingsreported2. WALL STREET CALLS:Canada Gooseto Underweight from Overweight at Wells FargoUBSCelesticato Buy on 50% earnings growth to 2028Wall Streetof Jersey Mike's Subswith mostly bullish viewsDardento Outperform from Neutral at BairdChipotleto Neutral from Outperform at Baird3. AROUND THE WEB:Hims & Hershas been placed in Visa'sAcquirer Monitoring Program after a surge in weight-loss subscription disputes, adding scrutiny to its billing practices and creating potential operational and reputational risks, Bloomberg reportsTeslahas lost Shishuang Sun, its senior AI hardware engineer, to former Dojo startup DensityAI, highlighting continued talent attrition in critical chip design and system integration as Tesla ramps its in-house AI hardware efforts, Electrek saysIn a recently published report titled "XHLD: A Shady Underwriter's Pump & Dump on the Brink of T-12 Halting," Fugazi Research says TEN Holdings"is not a software company hiding inside an events business."Crocs'disciplined inventory and promotional strategy is paying off, with North American growth returning and international strength pushing quarterly revenue above $1B, while HeyDude shows signs of stabilization, WSJ saysAnthropic's bankers said the company could raise more than $100B in its IPO, which could value it at $2T, in recent discussions with potential investors, The New York Times reports4. MOVERS:Capricorincreases after announcing thethe action date for Deramiocel for its amendment reviewGeminigains afterwith Apex Fintech SolutionsBitminehigher afteras of August 23Applied Optoelectronicsfalls afterof up to $600M in stockEos Energylower after entering a software and hardwarewith Wattmore5. EARNINGS/GUIDANCE:XPeng, with EPS and revenue missing consensusRoyal Bank of Canadaon August 27Marvell Technologyon August 27Crowdstrikeon August 26Salesforceon August 26INDEXES:Near midday, the Dow was up 151.82, or 0.28%, to 53,428.83, the Nasdaq was down 92.24, or 0.35%, to 26,088.22, and the S&P 500 was down 12.33, or 0.16%, to 7,662.04.
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