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Big Tech Earnings Show AI Cloud Surge, but Spending Worries Weigh
Alphabet shares surged on strong cloud earnings, but Meta, Amazon, and Microsoft fell as investors weighed AI spending plans. The four firms are on track to invest over $600 billion in AI infrastructure.
Ford's $1.3B Tariff Refund Boosts Q1 Earnings, Aluminum Costs Loom
Ford raised its 2026 profit outlook after a $1.3 billion tariff refund boosted Q1 net income to $2.5 billion, but aluminum cost headwinds and ongoing EV losses present challenges.
U.S. Gasoline Prices Surge to $4.229, Outlook Points Higher Amid Supply Squeeze
U.S. gasoline prices hit $4.229 per gallon, the highest since July 2022, driven by falling inventories, refinery outages, and crude above $100. The outlook points to further increases as summer demand nears.
Carvana Shares Surge on Record Q1 Revenue and Net Income Beat
Carvana reported record Q1 revenue of $6.43B and net income of $405M, beating Wall Street estimates. Shares rose 10% after hours, though margins narrowed.
Nebius Surges as Meta's Higher Capex Signals AI Cloud Demand
Nebius shares jumped 5.3% to $142.73 after Meta boosted its 2026 capex forecast, highlighting a potential $27B deal. Q4 revenue soared 547% but net losses hit $249.6M.
Phillips 66 Surprises with Q1 Profit as Refining Margins Strengthen
Phillips 66 posted a surprise Q1 adjusted profit of $0.49 per share, beating estimates of a loss, as robust refining margins and 95% utilization offset $839 million in hedge losses. Shares rose over 6%.
Extreme Networks Soars 28% on Strong Q3 Earnings and Upbeat Forecast
Extreme Networks shares surged 28% after reporting fiscal Q3 revenue of $316.9 million and non-GAAP EPS of 26 cents, beating estimates. Q4 revenue guidance of $330-$335 million also topped expectations.
Amazon Q1 Revenue Surges 17% as AWS Growth Accelerates to 28%
Amazon Q1 revenue rose 17% to $181.5B, beating estimates, as AWS growth hit 28%. Net income was boosted by a $16.8B Anthropic gain, but free cash flow fell to $1.2B.
Vita Coco Stock Jumps 27% on Q1 Beat, Upbeat 2026 Forecast
Vita Coco shares surged 27% Wednesday after Q1 net sales jumped 37% to $180M, beating estimates. The company raised its 2026 revenue outlook to $720-$735M, driven by strong coconut water demand.
Marathon Petroleum Shares Surge Ahead of Q1 Earnings Amid Refining Margin Spike
Marathon Petroleum shares climbed 3.2% to $240.05 ahead of its Q1 earnings, as fuel margins surged and peers Phillips 66 and Valero posted strong results.
MaxLinear Stock Skyrockets on AI Data Center Demand and Analyst Upgrade
MaxLinear shares jumped 34% on Wednesday after the company reported a 136% surge in infrastructure revenue and received an analyst upgrade, fueled by growing demand for AI data-center optical products.