Latest News
Citadel's Hong Kong Quant Shakeup Spurs Rival Firms to Reassess Data and Talent Hubs
Citadel shifts quant researchers from Hong Kong to Singapore or Miami after a relocate-or-leave ultimatum, sparking industry debate over data security and talent strategy.
Cisco Surge Drives Dow Toward 50,000 as AI Stocks Rally
The Dow Jones Industrial Average climbed 198 points to 49,891, nearing 50,000, as Cisco surged 17% on AI demand and a revenue forecast hike. The S&P 500 and Nasdaq hit intraday records, boosted by Nvidia and other AI stocks.
Wall Street Hits New Highs as AI Optimism Overrides Inflation Data
The S&P 500 and Nasdaq hit new intraday highs on Thursday, led by Nvidia and Cisco, despite April retail sales rising 0.5% and jobless claims increasing to 211,000.
IREN Shares Surge After $2.6B Convertible Debt Sale Backs Nvidia AI Push
IREN shares climbed 4.7% to $57.75 after pricing $2.6B in convertible notes, supporting its AI cloud expansion via a Nvidia partnership. JPMorgan raised its price target to $46 but kept an Underweight rating.
Redwire Surges on Record Backlog, Defense Shift
Redwire shares surged nearly 14% after posting a 57.9% revenue jump and a record $498.1 million backlog, while reaffirming its 2026 sales target.
Biogen Completes Apellis Takeover, Ending Nasdaq Listing
Biogen closed its $5.3 billion acquisition of Apellis Pharmaceuticals, making Apellis a wholly owned subsidiary and ending its Nasdaq listing.
Intel Stock Slides as AMD and Arm Gain Server CPU Market Share
Intel shares fell 3.9% as UBS data shows server CPU market share dropped to 54.9% in Q1, with AMD and Arm gaining ground.
Devon Completes Coterra Merger, Igniting Shale M&A Surge
Devon Energy completed its all-stock merger with Coterra Energy, ending CTRA trading on the NYSE. The $25B deal pushed US upstream M&A to a two-year high, with Devon targeting $1B in annual synergies and launching an $8B buyback.
Klarna Reports First Profit Post-IPO, Tepid Q2 Guidance Caps Rally
Klarna achieved its first quarterly profit since going public, but softer Q2 guidance tempered investor enthusiasm. Revenue surged 44% to $1 billion.
Quantum Cyber Rockets on Drone Deal and Ex-VA Chief Board Appointment
Quantum Cyber appoints ex-VA chief Peter O'Rourke, following a drone tech deal with BP United. Shares soar 264% as the company pivots to defense.
Cisco Stock Soars on AI Orders, Restructuring Plan
Cisco shares jumped as much as 22% in premarket trading after the company raised its sales forecast and announced a restructuring focused on AI, with $5.3 billion in AI orders from hyperscalers.
Forgent Power Soars on Record Orders, AI Data Center Demand Drives Growth
Forgent Power Solutions raised its FY2026 revenue forecast after record Q3 bookings of $867 million, signaling robust AI data center demand. Shares jumped in premarket trading.