MarketCatalystBumble jumped 56% on a $1.3 billion take-private, Fermi surged, and big banks reported, while Micron, Applied Materials and other chip names fell and Johnson & Johnson and Six Flags dropped. Here is what moved at midday on Oct. 13 and why.
On the first day of bank earnings, the CEOs of Goldman Sachs, JPMorgan and Wells Fargo all flagged the same risk: a debt-fueled AI infrastructure boom that could face a painful reset. Here's what each said and why it matters.
Earnings season kicked into gear Tuesday. UnitedHealth beat and raised its outlook, Goldman Sachs grew revenue 23%, and JPMorgan posted a rare miss. Apple unveiled its HomeView smart-home hub, and Cipher Digital fell on an $850 million convertible note sale.
Nvidia fell 0.8% premarket Tuesday, stretching a five-session drop to 5.4%, after Broadcom CEO Hock Tan warned AI spending could hit a capital wall and Microsoft unveiled Maia 300, a custom inference chip it says beats leading GPU systems on efficiency.
UnitedHealth rose about 3% after beating estimates and lifting its profit outlook, JPMorgan edged up despite missing on earnings, and memory chipmakers fell again as South Korea's Kospi dropped 5.5%. Plus Wednesday's CPI and the rest of this week's calendar.
Stocks finished mixed Monday as a 2.7% slide in semiconductors and a 2% jump in oil offset gains elsewhere. The Dow rose 0.4%, the S&P 500 slipped 0.1% and the Nasdaq fell 0.4% before JPMorgan, Citigroup, Goldman Sachs and Wells Fargo report Tuesday.