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SK Hynix Approves 40 Trillion Won Share Buyback
Stock futures are mostly flat Wednesday after a three-session decline, with investors looking for stabilization following Tuesday's sharp selloff in technology and semiconductor stocks. The recent pressure has come from rising Treasury yields and concerns that elevated AI valuations may be vulnerable to higher financing costs.The Federal Reserve's July meeting minutes are the day's main catalyst, due at 2 p.m. ET. Investors will be looking for clues about the debate within the FOMC after the central bank held rates at 3.5%-3.75% in July. The minutes could be particularly important following the weak July employment report and relatively contained inflation data, which have increased expectations for a September policy shift, although rising oil prices and longer-term Treasury yields complicate the outlook.The bond market remains a major concern. The 30-year Treasury yield recently reached about 5.34%, its highest level since 2007, before easing slightly. Higher long-term yields are particularly challenging for high-growth technology stocks because they increase the discount rate applied to future earnings.Retail earnings are also providing a read on the U.S. consumer. Targetreported better-than-expected quarterly results and raised its outlook, while Lowe'scut its full-year sales outlook after weaker revenue. TJXalso reported results. The mixed results suggest consumers remain resilient in some areas but are becoming more selective as economic uncertainty and prices remain elevated.Brent crude has moved back above $90 a barrel as tensions surrounding Iran and the Strait of Hormuz threaten to keep energy supplies constrained. Persistent oil-price gains could complicate the Fed's efforts to ease policy by adding to inflation expectations.In pre-market trading, S&P 500 futures fell 0.7%, Nasdaq futures fell 0.11% and Dow futures were flat.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Modernaand Merckup 96% and 7% respectively after reporting the INTerpath-001 trial evaluating adjuvant treatment with intismeran autogene, an investigational mRNA-based individualized neoantigen therapy being jointly developed by the companies, met its primary endpointSK Hynixup 6% after announcing its board has approved a resolution to repurchase and fully cancel 40 trillion won worth of its own sharesUP AFTER EARNINGS -Estee Lauderup 13%Analog Devicesup 2%Targetup 1%Keysight Technologiesup 1%Toll Brothersup 2%DOWN AFTER EARNINGS -La-Z-Boydown 17%Mercury Systemsdown 10%TJXdown 4%Lowe'sdown 1%
NASDAQ Drops 1.3% as US Stocks Retreat
The gains made by AI CapEx names overnight that helped prop up the S&P 500 reversed sharply today, sending both the benchmark index as well as the tech-heavy NASDAQ Composite sharply lower. S&P 500, off by 0.7%, was down for the third consecutive day, landing at a two-week low below 7,700 as investors booked profits and some of this year's biggest winners. Micronand Western Digitalwere down over 7%, while SanDiskand Seagatewere down over 9%, with Technology by far the worst performing segment in the index today. Defensively-inclined Healthcare and Consumer Staples sectors outpeformed, with Energy also trading relatively higher as the U.S.-Iran war uncertainty continues to boost oil prices. In turn, Nasdaq Composite shed 1.3% to its lowest level since August 6th.In the opening hour of the evening session, sentiment remains fragile - S&P e-minis are down a decimal and NASDAQ 100 contract down by 0.2%. Ahead of tomorrow's FOMC July meeting minutes, fixed income markets are on edge as the global bond rout continues to push up the yields of longer-dated maturities.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Keysight Technologiesup 3.2%Toll Brothersup 0.8%DOWN AFTER EARNINGS -La-Z-Boydown 17.2%Mercury Systemsdown 10.5%ALSO LOWER -WhiteFiberdown 20.5% after convertible debt offeringBackblazedown 2.1% after convertible debt offering
S&P 500 Index Retreats for Second Consecutive Session
S&P 500 index retreated for the second consecutive trading session on Monday and has now erased gains made over the prior two trading sessions last week. Consumer sectors, both staples and cyclicals, were among the worst-performing areas of the benchmark. Energy once again helped to prop up the S&P 500 as its best-performing index, thanks to the geopolitical uncertainty in the Strait of Hormuz. In technology, sentiment was split down the middle: pro-AI capex stocks held up, with Micron, Sandisk, Western Digital, and Applied Materialstrading notably higher. Stocks in Software and IT Services largely offset that advance, with names like Microsoftanddown 3.0% and 2.3% respectively.On Tuesday, traders will see earnings from a premium home builder - Toll Brothers- and a home improvement giant in Home Depot (HD), further gauging the impact of stubbornly high interest rates on the housing sector.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Flexsteel Industriesup 10.0%Duos Technologiesup 7.5%Yalla Groupup 1.4%.ALSO HIGHER -Amylyx Pharmaceuticalsup 13.2% after announcing expected results for Avexitide tomorrowKura Oncologyup 8.2% after insider buyButterfly Networkup 4.1% after insider buyDOWN AFTER EARNINGS -Fabrinetdown 6.5%ALSO LOWER -Andersen Groupdown 4.6% after equity offering
SK Hynix Raises $26.5B in U.S. IPO
The major averages finished Friday broadly higher as investors balance continued enthusiasm for artificial intelligence against renewed geopolitical uncertainty. Despite the up-and-down nature of the week, the S&P 500 and Nasdaq had weekly gains.A key news story was the debut of SK Hynix's U.S.-listed American depositary receipts. The South Korean memory-chip maker raised approximately $26.5B in one of the largest equity offerings ever, underscoring continued investor appetite for companies tied to AI infrastructure. The listing follows the blockbuster SpaceX IPO and reinforces the view that capital markets remain receptive to large-scale technology offerings despite recent volatility.Meanwhile, traders continue to keep an eye on tensions in the Middle East. Oil prices have retreated after a surge earlier in the week as President Donald Trump said that Iran called to make a deal, while Qatar and Pakistan are reportedly aiming to bring both sides back into peace talks.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SK Hynixin the U.S. at $170 per ADR after its U.S. IPO was priced at $149Deltareportedand reiterated its FY26 outlookCircle Internetreceivedto establish a national trust bankBaker Hugheshas received conditional EU antitrust approval for its $13.6B acquisition of Chart Industries,easyJet'sboard and Apollo Globalhave reached an agreement in principle on the2. WALL STREET CALLS:Twilioto Buy at StifelPepsiCoto Neutral at CitiFox Corp.to Buy from Neutral at Rothschild & Co RedburnSusquehannaIBMat Neutral despite "so many reasons to like"Toll Brothersto Buy at Citi3. AROUND THE WEB:As part of its recent job cuts, Sonoshas laid off some of its top design and product management executives, Bloomberg saysUBShelped trigger a wave of withdraws from a Blue Owl fund in the final quarter of 2025 after advising overexposed clients to diversify away from private credit, FT reportsSemiAnalysis posted a positive report on Meta'sAI computeDisneyis exploring making some Disney+ content available without a paywall, Business Insider saysCCC Intelligent Solutionsis weighing a sale of the company, Reuters says4. MOVERS:EquipmentSharewas higher after authorizing afor up to $50M and raising its guidance for FY26Cadizgained after announcing the U.S BLM approved theVodafoneincreased in New York after e& announced the termination of itsFermifell after pricing its $375MBrookdale Senior Livingwas lower after reporting5. EARNINGS/GUIDANCE:WD-40and raised its guidance for FY26Barnes & Noble Educationreported, with revenue in-line with consensusChipMOS, with revenue higher year-over-yearAtegrity SpecialtyprovidedNurix Therapeutics, with EPS and revenue missing consensusINDEXES:The Dow rose 149.60, or 0.29%, to 52,637.01, the Nasdaq gained 74.72, or 0.29%, to 26,281.61, and the S&P 500 advanced 31.75, or 0.42%, to 7,575.39.
SK Hynix Raises $26.5B in U.S. IPO
The major averages were mixed near noon following Thursday's strong session as investors balance continued enthusiasm for artificial intelligence against renewed geopolitical uncertainty. Despite the up-and-down nature of the week, the S&P 500 and Nasdaq are both on track for weekly gains, while the Dow is on pace for a small weekly decline.A key news story of the day is the debut of SK Hynix's U.S.-listed American depositary receipts. The South Korean memory-chip maker raised approximately $26.5B in one of the largest equity offerings ever, underscoring continued investor appetite for companies tied to AI infrastructure. The listing follows the blockbuster SpaceX IPO and reinforces the view that capital markets remain receptive to large-scale technology offerings despite recent volatility.Meanwhile, traders continue to keep an eye on tensions in the Middle East. Oil prices have retreated after a surge earlier in the week as President Donald Trump said that Iran called to make a deal, while Qatar and Pakistan are reportedly aiming to bring both sides back into peace talks. While investors appear increasingly confident that energy supplies will remain intact, the situation continues to present an upside risk to inflation.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SK Hynixat $17o per ADR after its U.S. IPO was priced at $149Deltareportedand reiterated its FY26 outlookCircle Internetreceivedto establish a national trust bankBaker Hugheshas received conditional EU antitrust approval for its $13.6B acquisition of Chart Industries,Nu Mexicohasto begin operations as a bank2. WALL STREET CALLS:Twilioto Buy at StifelPepsiCoto Neutral at CitiFox Corp.to Buy from Neutral at Rothschild & Co RedburnSusquehannaIBMat Neutral despite "so many reasons to like"Toll Brothersto Buy at Citi3. AROUND THE WEB:As part of its recent job cuts, Sonoshas laid off some of its top design and product management executives, Bloomberg saysUBShelped trigger a wave of withdraws from a Blue Owl fund in the final quarter of 2025 after advising overexposed clients to diversify away from private credit, FT reportsSemiAnalysis posted a positive report on Meta'sAI computeDisneyis exploring making some Disney+ content available without a paywall, Business Insider saysCCC Intelligent Solutionsis weighing a sale of the company, Reuters says4. MOVERS:EquipmentSharehigher after authorizing afor up to $50M and raising its guidance for FY26Cadizgains after announcing thethe right-of-way for the Cadiz Northern PipelineVodafoneincreases in New York after e& announced theagreement with the companyFermifalls after pricing itsBrookdale Senior Livinglower afterfor Q2 and June5. EARNINGS/GUIDANCE:WD-40and raised its guidance for FY26Barnes & Noble Education, with revenue in-line with consensusChipMOS, with revenue higher year-over-yearAtegrity SpecialtyNurix Therapeutics, with EPS and revenue missing consensusINDEXES:Near midday, the Dow was up 0.18%, or 95.99, to 52,583.40, the Nasdaq was down 0.08%, or 19.88, to 26,187.01, and the S&P 500 was up 0.11%, or 8.53, to 7,552.17.
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