By Caitlin McCabe
Taiwan Semiconductor Manufacturing (TW:2330, $(TSM)$: The world's largest contract chip maker beat profit expectations and raised its revenue outlook for the year, in a sign of strong demand for AI chips despite uncertainties from the war. The firm's U.S.-traded shares climbed nearly 1% premarket, while other chipmakers including Intel $(INTC)$ and Advanced Micro Devices $(AMD)$ also gained 1%.
Tokyo Electron (JP: 8035), Applied Materials $(AMAT)$, Lam Research $(LRCX)$: Bloomberg reported that Elon Musk's lieutenants have reached out to the chip-industry suppliers for his ambitious Terafab project, which aims to build specially designed chips for SpaceX, xAI and Tesla. Tokyo electron rallied 5% in Japan; its U.S.-listed peers gained premarket.
PepsiCo $(PEP)$, U.S. Bancorp $(USB)$: The two companies are due to report earnings before the bell.
Viva Energy (AU:VEA): The Australian energy company's oil refinery in Geelong was engulfed by a major fire, heightening concerns around the supply of oil products in the country at a time when availability has been stretched by the war. Shares fell more than 4%.
Kering (FR:KER): The French luxury giant said it expects to complete a structural reset by the end of this year as it aims to turn around its fortunes after a lull in growth, particularly at flagship brand Gucci. Shares fell 2%, deepening yesterday's decline on the back of weak sales.
Netflix $(NFLX)$: The streamer will report earnings after markets close.
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(END) Dow Jones Newswires
April 16, 2026 05:40 ET (09:40 GMT)
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