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S&P 500 Retreats from Record as Chip Stocks Slide; Oil Volatility and Whirlpool Warning Weigh
U.S. stocks retreated Thursday, with the S&P 500 sliding 0.38% from its record as chip stocks cracked. Intel and AMD fell 3% each, and the PHLX chip index dropped 2.7%. Oil volatility and a Whirlpool warning added to market unease.
MercadoLibre Profit Slips 15.6% as Spending Surge Outpaces Revenue Jump
MercadoLibre's Q1 net profit dropped 15.6% to $417M, missing forecasts, as heavy spending on logistics and credit weighed. Revenue jumped 49% to $8.8B, but shares fell 4% after hours.
MP Materials Surges on Q1 Beat as 'Mine-to-Magnet' Strategy Gains Momentum
MP Materials topped Q1 forecasts with revenue up 49% to $90.6M and adjusted EPS of $0.03, as NdPr production surged 63%. Shares rose 4.26% after hours.
Opendoor Q1 Revenue Tops Estimates, But Profitability Concerns Loom
Opendoor's Q1 revenue of $720M beat forecasts, but sales fell 38% YoY. The company expects Q2 revenue growth of 25% and adjusted EBITDA breakeven.
Airbnb Lifts 2026 Revenue Forecast as Q1 Bookings Surge Amid Middle East Conflict
Airbnb raised its 2026 revenue forecast after Q1 bookings surged 19%, with revenue up 18% to $2.68B. Net income of $160M missed estimates, but strong Americas demand offset Middle East conflict impact.
CoreWeave Beats Q1 Revenue Forecast, Backlog Surges to $99B
CoreWeave beat Q1 revenue estimates with $2.08B, driven by AI cloud demand, as its backlog reached $99.4B. Net loss widened to $740M amid rising costs.
Moody's: South Africa's Debt Stabilizing, Iran Conflict Poses Growth Risk
Moody's says South Africa's debt has peaked at 86.8% of GDP and is set to decline, but warns the Iran conflict could reduce growth by up to 0.5 percentage points in 2026-27.
AMD Stock Retreats After AI-Fueled Rally; Server CPU Strategy Takes Center Stage
AMD shares fell $12.97 to $408.42 Thursday, reversing some of the post-earnings gains. The company's Q1 revenue rose 38% to $10.25B, driven by data-center sales up 57%, and it forecasts Q2 revenue of about $11.2B.
Rocket Lab Q1 Revenue Surges 63.5% as Backlog Hits $2.2 Billion
Rocket Lab posted record Q1 revenue of $200.3M, narrowed its net loss, and saw backlog soar to $2.2B after a major launch deal. RKLB shares reversed a pre-report decline in after-hours trading.
HawkEye 360 Surges 30% in NYSE Debut After $416M IPO
HawkEye 360 shares opened 30% above its IPO price on the NYSE, valuing the company at $3.15 billion. The IPO raised $416 million amid strong demand for defense and space stocks.
USDA Tightens SNAP Stocking Rules: Retailers Must Offer 28 Staple Items by Fall 2026
USDA finalizes SNAP stocking rules effective fall 2026, mandating 28 staple food varieties, impacting small grocers and convenience stores.
Lumen Technologies Tumbles 13% on $1B Debt Sale, Alkira Buyout
Lumen Technologies shares fell 13% after its Level 3 unit priced $1 billion in 7.5% senior notes due 2037, highlighting balance sheet concerns amid a $475 million Alkira acquisition.