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Silicon Motion Holds Ground Amid Nasdaq Dip, Conference Circuit Ahead
Silicon Motion shares rose 2.5% for the week, outperforming the Nasdaq's 1.5% decline. Strong Q1 earnings and raised analyst targets provide support as the company heads to key investor conferences.
XRP Holds Near $1.42 as $1.50 Level Looms Ahead of Senate Crypto Vote
XRP traded near $1.42 Saturday, down 2%, as the $1.50 level becomes key ahead of a Senate vote on crypto regulation. Bitcoin and ether also declined.
Brent Crude Breaches $109 as Strait of Hormuz Tensions Fuel Weekly Gains
Brent crude ended the week at $109.26, WTI at $105.42, both up over 7%. Ongoing Strait of Hormuz disruptions and a 250 million barrel drop in global inventories have traders focused on next week's U.S.-Iran talks and inventory data.
NextEra-Dominion Merger Talks Spark Monday Trading Focus
Dominion Energy shares are poised for a significant move on Monday following reports of merger talks with NextEra Energy.
Fervo Energy IPO Swells to $2.17B; Stock Faces First Full Week of Trading
Fervo Energy completed a $2.17B IPO after underwriters exercised their option, selling 80.5M shares at $27 each. FRVO closed Friday at $41.06, up 52% from the IPO price, and now faces its first full trading week.
Blackstone Data Center REIT BXDC Closes First Week Above IPO Price
BXDC ended its first week at $20.10, above the $20 IPO price, after opening below it. The Blackstone-backed REIT raised $1.75 billion for data centers but has no assets yet.
AT&T Slides Again as Market Awaits Monday Test
AT&T shares fell 2.52% to $24.03 on Friday, marking a 4.5% weekly decline, as investors digest a rural coverage joint venture and FCC spectrum approval. Monday's session is seen as a key test for the stock.
Medtronic Hovers Near 52-Week Low as Market Awaits Earnings
Medtronic shares closed at $76.15, near their 52-week low, as broader market weakness weighed ahead of the company's June 3 earnings report.