Market
August 4, U.S. stocks opened higher as the Dow Jones rose 1.5% to 53,971, the S&P 500 added 0.5% to 7,641, and the Nasdaq Composite gained 0.9% to 26,148, buoyed by strength in semiconductors and optimism over corporate earnings.
Palantir Technologies Inc. jumps 18.6% after lifting full-year revenue guidance, Applied Optoelectronics surges 15.8% on a reported Microsoft supply pact, Coherent rallies 11.4% following a profit beat, Marvell Technology climbs 9.4% as analysts hike targets, Intel rises 5.0% on new memory partnership, Micron Technology advances 4.9% on CHIPS Act subsidies, and Advanced Micro Devices climbs 4.8% after launching its latest AI accelerator. On the downside, AXT Inc falls 10.1% on a weak outlook, Amazon.com slips 1.8% amid antitrust concerns, and Meta Platforms, Inc. dips 1.6% after fresh EU fines.
SOS Limited spikes 17.5% alongside a rally in bitcoin-linked shares, Kingsoft Cloud Holdings Ltd gains 7.8% on upbeat forecasts, United Microelectronics rises 5.6% and Silicon Motion Technology adds 5.0% as memory prices firm, while Corning climbs 5.4% on higher glass substrate pricing. Universe Pharmaceuticals Inc. plunges 12.6% after a discounted share sale and XPeng Inc. sheds 3.4% as EV delivery momentum cools.
News
Palantir Technologies Inc. hikes guidance and stock soars. The data analytics firm raised its full-year revenue forecast above consensus, citing robust demand from government and commercial AI contracts. Shares jumped in early trading as investors cheered accelerating growth.
Micron Technology secures federal grant for new Idaho megafab. The CHIPS Act award will support a $15 billion memory plant expected to start production in 2028, boosting long-term capacity plans. The stock moved higher on expectations of improved supply-chain positioning.
Advanced Micro Devices launches MI400 AI accelerator lineup. The new chips promise a 35% performance gain over prior generations, intensifying competition with NVIDIA in data-center markets. Analysts said the release could expand AMD's AI market share.
Intel and SK hynix unveil high-bandwidth memory partnership. The companies will co-develop next-gen HBM4 modules for AI servers, with initial samples slated for early 2027. Investors viewed the collaboration as strengthening Intel's data-center roadmap.
Applied Optoelectronics inks multiyear supply deal with Microsoft. The agreement covers 800G optical transceivers for Azure data centers, highlighting growing demand for AI networking gear. The stock surged on the long-term revenue opportunity.
Lumentum announces $1 billion share repurchase program. Management said strong cash flow supports the buyback and reiterated confidence in demand for telecom lasers. Shares advanced on the shareholder-friendly move.
Coherent beats earnings expectations on laser market strength. Better-than-forecast sales of industrial and medical lasers drove a double-digit increase in quarterly profit. The company also raised its fiscal outlook, sending the stock sharply higher.
Federal Reserve Governor signals cautious approach to rate cuts. Speaking at an industry conference, the policymaker said the central bank needs more evidence of cooling inflation before reducing rates. The comments tempered Treasury yields and supported bank stocks.
FTC reportedly preparing new antitrust case against Amazon.com. Sources say regulators are finalizing a lawsuit targeting the firm's marketplace practices, weighing on the e-commerce giant's shares at the open.
Universe Pharmaceuticals Inc. prices $25 million share offering at steep discount. The China-based drugmaker will issue new ADRs at $5.00 each to fund R&D and debt repayment, triggering a double-digit decline in its stock.