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Evening digest: markets react to Trump spending cut, Musk SEC showdown, Nvidia slump

Tech and finance headlines shook markets on Friday as Trump sparked controversy by cutting $4.9B in spending without Congress’s approval, while Elon…
Stock

Super Micro shares slide 5% on internal control weakness disclosure

Super Micro Computer Inc. (NASDAQ: SMCI) saw its shares drop more than 5% on Friday after the artificial intelligence-focused server maker reiterated…
Stock

JPM says ignore earnings noise and buy Marvell stock like there’s no tomorrow

In a world where investors are used to seeing AI firms report exciting growth in data centre revenue – Marvell Technology Inc…
Stock

Intel accelerates CHIPS act funding, receives $5.7B ahead of schedule

Intel has secured $5.7 billion in accelerated CHIPS Act funding from the US government. This is a significant step intended to fast-track…
Stock

Dow futures plunge 160 points on Friday: 5 things to know before Wall Street opens

Dow futures plunged 160 points on Friday as investors looked ahead to the release of the Fed’s go-to inflation gauge, the Personal…
Stock

PepsiCo to increase ownership in Celsius with $585M deal: report

PepsiCo Inc. is deepening its investment in Celsius Holdings Inc. with a $585 million transaction designed to expand the distribution and strategic…
Stock

Denmark cuts growth forecast as Novo slowdown sparks reliance debate

Denmark’s government has lowered its 2025 economic growth forecast to 1.4% from a previous projection of 3%, citing weaker prospects for pharmaceutical…
Stock

Alibaba stock jumps 4% despite Q1 miss: why analysts stay bullish on BABA

Alibaba stock (NYSE: BABA) climbed 4% in premarket trading on Friday after the company posted its first-quarter 2026 results. The numbers were…
Stock

Germany boosts energy security with new Wilhelmshaven LNG terminal

On August 29, Germany will launch its second liquefied natural gas (LNG) import terminal at Wilhelmshaven port.  This move by state operator…
Stock

Snowflake stock jumps 14% on earnings beat, optimistic guidance; analysts raise PTs

Snowflake shares soared 14% during Thursday premarket trading after the cloud data platform beat Q2 earnings estimates and raised its revenue forecast…
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