Stocks traded mixed Tuesday on continued investor concern about rising inflation. Consumer-price inflation data for July are due Wednesday.
Nvidia rose 1%. The chip maker's plan to line up $500 billion in financing for its customers is getting a tentative thumbs-up from shareholders, including Cathie Wood's ARK Invest which is scooping up shares.
Micron Technology gained 0.6% to $865.94. The stock has declined 12% over the past month and well short of its peak of more than $1,200 reached in late June on concerns about the sustainability of sky-high margins in a typically cyclical business.
Intel gained 0.6%. The chip maker said it now plans to raise $20 billion in a stock offering, up from $15 billion previously. The company plans to issue 210.5 million shares at a price of $95 each as it bids to pour more money into production to meet surging artificial-intelligence demand.
Trump Media and Technology Group declined 3.7%. The Truth Social parent reported that a slump in cryptocurrency prices caused its second-quarter loss to widen. The company also said that more than 10 customers have signed up for the real-time feed of top Truth Social accounts.
AST SpaceMobile fell 0.1% after the satellite operator said its second-quarter loss had widened from a year ago. Revenue for the period fell short of Wall Street's forecasts.
Rocket Lab dropped 3.8% after the space launch services and technology provider reported a wider loss than analysts were expecting for the second quarter.
SpaceX declined 2.9% and was in danger of ending a three-day winning streak. Shares of Elon Musk's rocket and AI company have advanced 28% over the past three trading sessions, rebounding strongly after selling off on earnings.
Cardinal Health advanced 5% and was the top stock in the S&P 500. The company issued a full-year profit outlook that comfortably beat Wall Street projections, overshadowing mixed fiscal fourth-quarter results across its business segments.
Plug Power advanced 5.7% after the hydrogen technology production company posted strong second-quarter results and raised full-year revenue guidance.
Fermi surged 19% to $6.98. The data-center developer announced late Monday it finally found a tenant for its Project Matador campus and that it has a lease contract for 15 years, with revenue of approximately $6.5 billion over that period, with artificial-intelligence cloud provider TensorWave.
Riot Platforms gained 11% to $21.37 after the Bitcoin miner-turned-data center operator revealed it had inked a $9.1 billion deal with a "leading frontier AI" company. That customer is Anthropic, a source familiar with the matter confirmed to Barron's.
Upwork fell 14% after the company late Monday forecast profit for the current quarter coming in well below Wall Street expectations. Upwork also reduced its full-year profit outlook to $1.38 to $1.43 a share from $1.50 to $1.55. The analyst consensus calls for 2026 earnings of $1.54 a share.
Venture Global fell 4.6%. The liquefied natural gas company missed second-quarter revenue expectations as costs increased in the quarter.
Hims & Hers Health declined 4.8% after the telehealth company's wider-than-expected loss for the second quarter overshadowed its full-year guidance hike.
On Holding sank 22% after the Swiss shoe maker's full-year sales guidance missed analysts' estimates.
Super Micro Computer and CoreWeave added 1.8% and 1.4%, respectively. Both companies report earnings after the closing bell. CoreWeave investors want to see continued triple-digit sales growth.
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