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Wall Street Hits Fresh Peaks as AI Chip Trade Powers After-Hours Moves
The S&P 500 and Nasdaq closed at all-time highs Tuesday, driven by AI chip demand. Micron briefly hit $1 trillion market cap, Qualcomm surged on a ByteDance deal, and Zscaler dropped after weak revenue guidance.
Ford Stock Hits 52-Week High on Energy Storage Deal
Ford shares surged 2.6% to a 52-week high of $15.54 following a major battery storage deal with EDF, as Wall Street revalues the company beyond its core auto business.
Peloton Names New CFO Ahead of S&P SmallCap 600 Inclusion
Peloton shares rose 1.05% to $5.77 on Tuesday after naming former Rent the Runway CFO Sid Thacker as its new finance chief, effective June 22, ahead of joining the S&P SmallCap 600 index on May 27.
Micron Joins Trillion-Dollar Club on AI Memory Demand
Micron shares surged 19.3% to $895.88, pushing its market cap past $1 trillion for the first time, fueled by a UBS price target hike and strong AI memory demand.
Redwire Shares Surge 26% on Drone Orders and Record Backlog
Redwire shares jumped 26% to $22.04 Tuesday on record volume, driven by drone orders, a $498.1 million backlog, and a possible $350 million share sale. First-quarter revenue rose 57.9% but net loss widened to $76.5 million.
Plug Power Stock Climbs as Cash Concerns Linger
Plug Power shares gained 1.5% to $3.84 on Tuesday amid heavy trading, even as the company continues to burn cash and report negative gross margins.
Nokia's AI-Driven Rally Raises Valuation Concerns
Nokia shares surged 5.9% to a 52-week high, driven by AI demand, but valuation concerns mount as PE ratio doubles.
Nvidia Slips as AI Boom Lifts Broader Market to Records; What's Next for Traders
Nvidia shares slipped 55 cents to $214.86 even as the S&P 500 and Nasdaq closed at record highs. Q1 revenue surged 85% to $81.6B, data center revenue jumped 92%, but China revenue halved amid export restrictions.