01 Stock Market
As of Apr 29, U.S. stock index futures performed as follows: Dow contracts were little changed, S&P 500 futures inched up 0.03%, and Nasdaq 100 futures firmed 0.29%, signalling a cautiously positive start as investors balance robust chip demand against looming macro catalysts.
Notable Stock Movers: Silicon Motion (SIMO) surged 29.37% at $193.00 after delivering a strong earnings beat and upbeat guidance, while Seagate Technology (STX) climbed 18.20% at $684.44 on AI-driven storage demand. Peer Western Digital (WDC) gained 10.83% at $433.34, and memory leader Micron Technology (MU) added 4.55% at $527.24. Conversely, fintech platform SoFi Technologies (SOFI) fell 9.89% at $16.55 after maintaining its annual outlook despite record loan growth.
Sustained appetite for data-centric semiconductors is propelling pre-market gains across the sector, with NVIDIA (NVDA), Advanced Micro Devices (AMD), and United Microelectronics (UMC) all trading higher. Meanwhile, mixed financial updates from consumer and healthcare firms are prompting selective profit-taking, underscoring a rotation toward hardware beneficiaries of expanding AI and cloud investment.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.22%, to 4.36%.
• U.S. Dollar Index rose 0.08% to 98.70.
• WTI crude oil futures rose 3.40% to 103.33 USD/barrel; COMEX gold futures fell 0.72% to 4575.20 USD/ounce.
03 Key News
1. Silicon Motion tops Q1 expectations and raises guidance: The flash-controller designer posted adjusted EPS of $1.58 on $342.1 million revenue, more than doubling last year’s sales and beating forecasts. Management projected Q2 revenue of $393 million to $411 million, highlighting vigorous solid-state drive demand.
2. Seagate lifts outlook on AI-fuelled storage demand: The data-hardware maker now sees fiscal Q4 revenue near $3.45 billion and adjusted EPS around $5, well above consensus. Executives cited enterprise appetite for high-capacity drives to support artificial-intelligence workloads.
3. United Microelectronics delivers stronger profits: The Taiwanese foundry’s Q1 earnings rose to NT$1.29 per share as revenue reached NT$61.04 billion, outpacing analyst targets and signalling steady demand for outsourced chip fabrication.
4. NXP Semiconductors projects robust Q2 growth: The Dutch chipmaker guided for $3.35–$3.55 billion in sales and $3.29–$3.72 adjusted EPS, citing recovering automotive and industrial orders as customers restock after last year’s inventory correction.
5. Teva Pharmaceutical beats profit forecasts on branded-drug momentum: Adjusted EPS of $0.53 exceeded expectations, with revenue at $3.98 billion. Growing sales of proprietary medicines helped offset competitive pressures in generics, lifting pre-market shares.
6. Humana trims GAAP outlook amid Medicare rating drag: The insurer’s adjusted EPS of $10.31 surpassed estimates, but GAAP profit guidance was reduced to at least $8.36 as lower Star Ratings and restructuring costs weigh on 2026 earnings.
7. GE HealthCare cuts annual profit forecast after margin squeeze: Q1 adjusted EPS of $0.99 missed consensus, and the company now targets $4.80–$5.00 for the year, citing supplier issues and higher component and logistics costs.
8. Robinhood misses on transaction revenue as crypto activity cools: The broker earned $0.38 per share on $623 million trading revenue, below forecasts. Management plans $100 million in platform investments but faces investor concern over softer take rates.
9. SoFi Technologies posts record loan originations but holds full-year guidance: Adjusted revenue jumped 41% to $1.09 billion, yet the fintech reiterated its 2026 targets, leading to investor disappointment despite growth in personal and student lending.
10. White House engages energy executives over supply security: Reports indicate President Donald Trump met oil-and-gas leaders, including Chevron’s CEO, to discuss domestic output, Venezuelan progress, and shipping logistics as the Iran conflict persists, signalling potential policy measures to stabilize energy markets.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
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