Baird Downgrades Caterpillar Stock Over Data Center Construction Worries
Baird downgrades CAT stock over growing state and local bans on data centers. Near-term orders strong, but 2027-2028 slowdown expected.
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SoFi Reports Record Revenue and Member Growth, but Profit Guidance Holds Steady
SoFi beats Q2 estimates, raises revenue guidance to $4.75-4.85B but holds profit targets flat. Shares dip premarket on mixed guidance.
US Awards GlobalFoundries $300 Million to Build Faster, More Efficient AI Chip Links
GlobalFoundries receives $300M US funding to advance silicon photonics, targeting 400Gb/s speeds and 5x energy efficiency for AI data centers.
Vertiv Beats EPS Estimates and Raises Guidance, But Shares Fall on Revenue Miss
Vertiv’s Q2 revenue of $3.27B missed $3.37B estimates due to supply delays, despite EPS beat and raised guidance.
Teradyne Beats Wall Street with Record Chip-Testing Revenue
Teradyne reports record $1.33B Q2 revenue, more than double last year, and beats estimates. Strong AI chip demand drives upbeat Q3 guidance.
SK Hynix Miss Triggers $2 Trillion Sell-Off in South Korea Stocks
Leveraged selling and SK Hynix’s earnings miss wiped $2 trillion from South Korean stocks in two days of record market declines.