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Guzman y Gomez Exits US Market, Shares Surge on Return to Australian Focus
Guzman y Gomez exits the US market immediately, closing all Chicago locations. Shares rose up to 20% on Friday as investors cheered the strategic pivot back to Australia, with FY26 Australia EBITDA guidance raised to A$85 million.
Meta Slashes 8,000 Roles, Boosts AI Spend as Zuckerberg Charts New Course
Meta Platforms cuts 8,000 jobs and shifts thousands to AI roles, raising 2026 capital spending to $125-$145 billion. CEO Zuckerberg says no more company-wide layoffs this year, though some employees remain wary.
Allstate Hit with $870M April Storm Loss Amid Growth Concerns
Allstate reported $870 million in April catastrophe losses, mostly from two wind and hail events, sending shares down 3.4% and overshadowing strong Q1 earnings.
Tech Stocks Rally on Lower Yields, Nvidia Guidance, and Geopolitical Calm
U.S. stock futures climbed Friday as lower Treasury yields lifted tech shares, with Nvidia guiding above estimates and Workday surging. Oil prices rose on geopolitical risks, but markets found support from easing bond yields.
Markets Pause for Memorial Day with Inflation Data Looming
NYSE and Nasdaq closed Monday for Memorial Day. S&P 500 held near record levels as markets await PCE inflation data and AI earnings from Nvidia, Salesforce, and Dell.
Workday Shares Surge 10% on Strong Q1 Results and AI Outlook
Workday shares rose nearly 10% in premarket trading after the company beat Q1 profit and revenue estimates and raised its full-year adjusted operating-margin forecast.
GlobalFoundries Surges on $375M Quantum Deal and U.S. Stake
GlobalFoundries stock soared 15% after the U.S. Commerce Department unveiled a $375 million award and a 1% government stake in the chipmaker, part of a $2 billion federal quantum computing push.
PNC Reduces T. Rowe Price Stake Amid Strategic Shift to US Equities
PNC Financial cut its T. Rowe Price stake by 4.3% in Q4. T. Rowe shifts to US equities, reports $1.825T AUM, but net outflows hit $10.6B. Q1 EPS of $2.52 beat estimates.
NIO Shares Slip Despite Strong Q1 Revenue, Delivery Outlook
NIO shares declined 5.5% in premarket trading Friday even as the company reported a 112% jump in first-quarter revenue and a positive delivery outlook.
Quantum Stocks Surge as US Government Commits $2 Billion in CHIPS Act Funding
Quantum computing stocks rallied sharply on Thursday after the U.S. Commerce Department unveiled $2 billion in preliminary CHIPS Act funding agreements, with D-Wave, Rigetti, and Infleqtion all surging over 30%.