Stocks tumbled Friday as a selloff that began earlier in the week over fears about the AI boom’s longevity was compounded by worries about rate hikes from the Federal Reserve. The Nasdaq sank 4%, suffering its worst selloff since April 2025—during the height of President Donald Trump’s tariff shock. The S&P 500 lost 2.6%, and…
June 5 (Reuters) – Netflix appointed lead independent director Jay Hoag as chairman of its board, succeeding Reed Hastings, who stepped down from the board of the streaming service he co-founded nearly three decades ago. Here are some details on the move: • The streaming platform announced the move in an SEC filing on Friday,…
Cotton futures faced outside pressure on Friday, with contracts down 41 to 137 points across the board, with July falling 240 points. The US dollar index was up $0.643 at $100.025. Crude oil losses of $2.79 added some modest pressure. Weekly CFTC data showed spec funds trimming 1798 contracts from their net long and cotton…
Corn futures saw continued long liquidation heading onto the weekend, with contacts down another 2 ¼ to 7 cents. July was down 29 ½ cents (-45 cents in 2 weeks), with December falling 29 cents. A wetter forecast, lack of news on China and weaker world FOB offers as the Argentina and Brazilian crops start…
Soybeans faced more weakness to close out the week, as contracts were down 2 to 8 cents on Friday. The weekly move for July was down 65 1/4 cents, with November down 52 ½ cents. The cmdtyView national average Cash Bean price was down 7 cents at $10.63 1/4. Soymeal futures were down 20 cents to $5.20…
Chip stocks turned a rough session on Friday into a rout, with the semiconductor complex suffering its worst drop since April 2025, erasing more than $1 trillion in market value as the AI trade buckled. The damage was heavy, but it was not evenly distributed. A Yahoo Finance screen of semiconductor stocks shows the group…
June 5 (Reuters) – Meta is considering raising tens of billions of dollars in a stock offering as it seeks new sources of capital to fund the company’s AI ambitions, the Financial Times reported on Friday. The report comes after Alphabet moved to raise $84.75 billion in upsized equity offerings, as Big Tech competes to…
Things may finally be looking up for UnitedHealth (UNH). Shares of the largest health insurer in the United States popped more than 5% in yesterday’s trading session after leading broker Bank of America upgraded the company to a “Buy” from “Neutral.” The firm also increased its price target on the stock to $450 from $420,…
Quick Read QCOM surged 68% in 30 days on hyperscaler chip news, yet handset revenue fell 13% and operating income dropped 26% last quarter. QCOM now trades 27% above the $177 analyst consensus target while SPY gained only modestly over the same post-earnings window. CEO Cristiano Amon’s hyperscaler silicon doesn’t ship until late 2026, making…
Shawn Tabak, Chief Financial Officer of Porch Group (NASDAQ:PRCH), reported the sale of 30,000 shares of common stock in an open-market transaction on May 26, 2026, according to a SEC Form 4 filing. Transaction summary Metric Value Shares sold (direct) 30,000 Transaction value ~$303,000 Post-transaction shares (direct) 269,439 Post-transaction value (direct ownership) ~$2.75 million Transaction…
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