Trending Market News

Meta announced a multiyear deal with AMD to deploy up to 6 gigawatts of AI chips for its data centers, just days after committing to use millions of Nvidia processors. The agreement, estimated at tens of billions of dollars over at least four years, includes customized AMD MI450 GPUs and represents a significant win for AMD as it challenges Nvidia's 90% market dominance in AI chips.

• The AMD deal involves customized GPUs in Helios rack-scale servers starting later this year, a key differentiator from Meta's Nvidia agreement which does not include customization
• Meta is investing up to $135 billion in capital expenditures this year and plans 30 data centers (26 in the U.S.) as it competes in the global AI race
• AMD's 6-gigawatt deployment represents the first large-scale competition to Nvidia's Grace Blackwell systems, though Nvidia still controls roughly 90% of the AI chip market with a $4.66 trillion valuation

Home Depot reported a 4% sales decline in Q4 but exceeded Wall Street's earnings and revenue expectations, ending a three-quarter streak of earnings misses. The home improvement retailer continues facing headwinds from slow housing turnover, high interest rates, and consumer uncertainty that have delayed major home projects. The company maintained its fiscal year forecast while navigating tariff concerns and evaluating the impact of Trump's proposed 15% across-the-board tariff.

• Q4 earnings per share of $2.58 and revenue of $38.20 billion both beat expectations; comparable sales rose 0.4% despite store transactions declining 1.6% year-over-year
• Big-ticket purchases over $1,000 increased 1.3% as professional contractor sales outperformed do-it-yourself segment; company opened 12 stores in fiscal 2025 and plans 15 more this year
• CFO cited 'frozen housing environment for three years' and rising consumer uncertainty about housing affordability and job losses; company is analyzing tariff impacts with over half of products sourced domestically

Britain announced that major streaming platforms including Netflix, Amazon Prime Video, and Disney+ will be required to follow the same content and accessibility regulations as traditional broadcasters like the BBC. The new rules, enforced by regulator Ofcom, will apply to streaming services with more than 500,000 UK users and aim to protect audiences from harmful content while ensuring accessibility features like subtitles.

• Streaming services must ensure news is reported accurately and impartially, and protect audiences against harmful or offensive material
• The regulations will apply to platforms with more than 500,000 UK users, bringing them under Ofcom's broadcasting code
• Ofcom will have investigative and enforcement powers to take action against services that breach the new standards

The Trump administration's revised tariff regime exempts commercial aircraft, engines, and aerospace parts from a new 10-15% global import duty, providing relief to Brazilian planemaker Embraer and U.S. airlines. The exemption removes a previous 10% tariff disadvantage Embraer faced against Canadian and French competitors, though uncertainty remains due to ongoing trade investigations and existing steel and aluminum tariffs that increase aircraft production costs.

• Embraer gains competitive parity as its business and regional jets can now enter the U.S. duty-free, matching treatment of Bombardier and Dassault aircraft
• The exemption creates a temporary window for airlines like Alaska Airlines, SkyWest, and American Airlines to accelerate imports of Embraer E175 regional jets without tariffs
• Industry concerns persist as Commerce Department's Section 232 investigation could reimpose aerospace tariffs, and existing steel/aluminum duties continue raising aircraft production costs

Ford is recalling 412,774 Explorer vehicles in the United States due to a rear suspension defect. The issue involves toe links in the rear suspension that may fracture, potentially causing drivers to lose steering control and creating a significant safety hazard.

• The recall affects over 413,000 Ford Explorer vehicles sold in the U.S.
• Rear suspension toe links may fracture, leading to loss of steering control
• The recall was announced by the U.S. National Highway Traffic Safety Administration (NHTSA)

A new study reveals that retail investors account for nearly 90% of leveraged single-stock ETF trading in the U.S., driving explosive growth in these speculative products. The number of such ETFs has surged 318% since January 2025 to 355 total funds, with trading volumes growing 29% annually and representing 8% of all U.S. exchange trading. The SEC continues to resist asset managers' attempts to launch even more aggressive products offering 3-5x daily leverage.

• Leveraged single-stock ETF trading volume grew 29% annually, outpacing both stock and options trading growth rates
• During the April 2 'Liberation Day' tariff selloff, retail trades in these ETFs accounted for up to 40% of all U.S. market trading activity
• Direxion filed Friday for 20 new ETFs offering 3x daily exposure to individual stocks like Nvidia and Palantir, despite repeated SEC rejections of similar products

Standard Chartered reported a 16% increase in full-year pretax profit to $6.96 billion, driven by strong global banking and wealth inflows. However, the result fell short of analyst expectations of $7.2 billion. The emerging markets-focused bank, which generates most revenue in Asia and Africa, also announced a $1.5 billion share buyback.

• Full-year pretax profit reached $6.96 billion, up from $6 billion the previous year but below the $7.2 billion average analyst estimate
• Revenue growth was driven by robust global banking operations and strong wealth management inflows across key markets
• The bank announced a $1.5 billion share buyback program alongside its earnings results

Bitcoin fell more than 5% on Tuesday, dropping below $64,000 as investors reacted to escalating tariff tensions and broader geopolitical risks. The decline represents a significant drop in the cryptocurrency's value amid growing market uncertainty.

• Bitcoin broke through the $64,000 price level with a decline exceeding 5% in a single trading session
• The cryptocurrency selloff was driven by investor concerns over escalating tariff tensions and geopolitical uncertainty
• The decline continues broader volatility in digital asset markets as macroeconomic risks weigh on risk-on investments

Apple plans to relocate some Mac Mini desktop computer production from Asia to the United States, according to The Wall Street Journal. Manufacturing will begin later this year at a Foxconn facility in north Houston, marking a shift in Apple's supply chain strategy. The announcement was made by Apple's chief operating officer Sabih Khan.

• Production will take place at a Foxconn facility located in north Houston, Texas
• The manufacturing transition from Asia to the U.S. is scheduled to begin later this year
• The move represents part of Apple's broader effort to diversify its manufacturing footprint beyond Asia

Zurich Insurance Group's Australian unit has agreed to acquire ClearView Wealth, an Australian life insurer, for A$408.3 million ($288.3 million). The deal represents a strategic expansion for Zurich in the Australian life insurance market.

• The acquisition price is A$408.3 million (US$288.3 million) at an exchange rate of 1.4162 Australian dollars per US dollar
• ClearView Wealth is an Australian life insurance company being acquired by Zurich's local subsidiary
• The transaction expands Zurich Insurance Group's presence in Australia's life insurance sector

JPMorgan Chase CEO Jamie Dimon announced he will remain as chief executive of the largest U.S. bank for a 'few years' and potentially continue as executive chairman thereafter. The announcement was made at the bank's investor day event in New York on February 23, providing clarity on leadership succession timing at the major financial institution.

• Dimon plans to serve as CEO for several more years before potentially transitioning to an executive chairman role
• The announcement addresses ongoing speculation about succession planning at JPMorgan, the largest U.S. bank by assets
• The commitment was made publicly at the bank's investor day event, signaling continuity in strategic leadership

FedEx filed a lawsuit against the U.S. government seeking a full refund of tariffs paid under Trump-era policies, following a Supreme Court ruling last week that declared these unilaterally imposed tariffs illegal. This appears to be the first suit filed by a major U.S. company seeking tariff refunds after the high court decision.

• The Supreme Court ruled that tariffs Trump imposed under the International Emergency Economic Powers Act are illegal
• FedEx is seeking a 'full refund' of all tariff payments made under the now-invalidated Trump tariff program
• Other companies had previously filed similar refund lawsuits before the Supreme Court ruling, but FedEx appears to be the first major company to sue after the decision

Keurig Dr Pepper raised an additional $1.5 billion in equity funding from long-term investors to help finance its approximately $18 billion acquisition of Dutch coffee company JDE Peet's. The deal is expected to close in early April, with the combined business planned to split into Global Coffee Co and Beverage Co by year-end. The company has also scrapped plans for a partial public listing of its beverages unit.

• The additional financing reduces projected debt to about 4.5 times earnings post-acquisition, down from 4.6 times projected in October when the company raised $7 billion
• Keurig Dr Pepper is no longer considering a partial public listing of the beverages unit, one of two entities it planned to carve out after the merger
• The acquisition aims to help Keurig Dr Pepper compete with industry leader Nestle and better manage high commodity costs, with funding led by Apollo and KKR

Japan's Astellas Pharma and Vir Biotechnology announced a partnership to develop and commercialize VIR-5500, an experimental prostate cancer drug currently in early Phase 1 testing. Vir will receive $335 million upfront and near-term payments, with potential milestone payments reaching up to $1.37 billion plus double-digit royalties on international sales. Astellas will lead U.S. commercialization and hold exclusive rights outside the United States.

• Upfront deal structure includes $240 million cash, $75 million equity investment at 50% premium, and $20 million near-term milestone payment totaling $335 million
• Vir eligible for up to $1.37 billion in additional milestone payments plus double-digit royalties on sales outside the U.S.
• VIR-5500 is in early Phase 1 testing for advanced metastatic prostate cancer, with Astellas leading U.S. commercialization and holding exclusive international rights

Paramount Skydance has submitted an increased offer for Warner Bros Discovery, exceeding its initial $108.4 billion bid ($30 per share), in an effort to outbid Netflix's $27.75 per share offer. The bidding war for Warner Bros' assets, including HBO Max and franchises like 'Harry Potter' and 'Game of Thrones', intensifies competition for streaming market dominance. Warner Bros gave Paramount a February 23 deadline to submit its best and final offer after rejecting earlier bids.

• Paramount's revised bid improves on its initial $108.4 billion offer and includes backing from Oracle billionaire Larry Ellison, while competing against Netflix's $27.75 per share proposal
• Activist investor Ancora Capital, with a $200 million stake in Warner Bros, has threatened to vote against the Netflix deal and hold the board accountable if they refuse to engage with Paramount
• Any deal faces intense regulatory scrutiny from U.S. and European authorities, with concerns that a Netflix-Warner Bros combination would create the biggest global streaming player with roughly half a billion subscribers

Citigroup announced agreements to sell a 24% stake in its Mexican subsidiary Banamex to a group of institutional investors and family offices for approximately $2.5 billion. The transaction, expected to close this year, will reduce Citi's ownership in Banamex from 73% to 49%. The investor group includes prominent names such as General Atlantic, Blackstone, Qatar Investment Authority, and Banco BTG Pactual.

• The sale values the 24% stake at around $2.5 billion, with the deal expected to be completed in 2025
• Major investors in the consortium include General Atlantic, Blackstone-managed funds, Liberty Strategic Capital, Qatar Investment Authority, Chubb, Banco BTG Pactual, and a Sura asset management unit
• After the transaction, Citigroup will retain a 49% stake in Banamex, marking a significant reduction from its current majority ownership position

Uber is acquiring SpotHero, a parking app platform. This breaking news story indicates Uber's expansion into parking services, potentially integrating parking solutions into its ride-hailing ecosystem. The acquisition details and financial terms have not yet been disclosed.

• The acquisition adds parking reservation capabilities to Uber's transportation services portfolio
• SpotHero provides parking spot booking and payment services across multiple cities
• Financial terms and timeline for the deal have not been announced as this is breaking news

Keysight Technologies forecast second-quarter profit and revenue above Wall Street estimates, driven by strong demand from data centers expanding to support AI workloads. The electronic equipment maker's stock rose following the announcement on Monday. The company also exceeded first-quarter expectations, with its communications solutions unit seeing particular strength.

• Second-quarter revenue guidance of $1.69-$1.71 billion significantly exceeds analyst estimates of $1.51 billion
• Communications solutions unit revenue jumped 27% to $1.12 billion in Q1, driven by AI-focused data center infrastructure investments
• First-quarter revenue of $1.6 billion beat estimates of $1.54 billion, though outlook excludes potential impacts from Trump administration tariff actions

Tesla is suing California's Department of Motor Vehicles to overturn a ruling that found the company engaged in false advertising regarding its Autopilot and Full Self-Driving features. The California Office of Administrative Hearings previously determined Tesla violated the law by falsely promoting its cars' self-driving capabilities, though the DMV opted not to suspend Tesla's manufacturing or sales licenses after the company revised its marketing language. The lawsuit is critical for Tesla as its future success depends heavily on delivering true robotaxi capabilities.

• Tesla's attorneys argue the DMV 'wrongfully and baselessly' labeled the company a false advertiser, claiming it was impossible to purchase or use the systems without seeing clear statements that they do not make vehicles autonomous
• Tesla now markets its system as 'Full Self-Driving (Supervised)' on a subscription basis only, but faces separate class action lawsuits from customers seeking refunds and was held partly liable for a fatal collision involving Autopilot that resulted in a $243 million verdict
• The company's future hinges on robotaxi development after EV sales declined last year; Tesla is currently testing automated vehicles in Austin and has begun production of the Cybercab, a two-seater without a steering wheel or pedals

Diamondback Energy missed Wall Street's fourth-quarter profit expectations as the U.S. shale producer faced headwinds from declining oil prices. WTI crude fell 20% in 2025 and 8% in Q4, with Diamondback's average realized price dropping to $58 per barrel from $69.48 a year earlier. The company posted adjusted earnings of $1.74 per share while increasing production to offset weaker pricing.

• Oil prices declined significantly with WTI falling 20% in 2025 and 8% in Q4, pressured by oversupply concerns and potential Venezuelan barrels returning to market
• Diamondback's average realized price was $58 per barrel in Q4, down 16.5% from $69.48 per barrel in the prior-year quarter
• Production increased to 969,120 barrels of oil equivalent per day, up from 883,424 boepd year-over-year, as record U.S. output helped cushion the price impact