Trending Market News

Indian solar panel manufacturers saw their stocks plunge on February 25 after the U.S. Commerce Department announced countervailing duties on solar imports from India, Indonesia, and Laos. The duties, imposed to offset government subsidies, include a subsidy rate of 125.87% for Indian solar imports, marking a significant blow to India's solar industry.

• Waaree Energies initially dropped 15% before recovering slightly to trade 11% lower, marking its worst trading session ever
• Premier Energies and Vikram Solar declined as much as 14.2% and 7.8% respectively before recovering some losses
• The U.S. determined a general subsidy rate of 125.87% for solar imports originating from India

HSBC reported annual pre-tax profit of $29.91 billion, beating estimates despite a 7.4% decline from the previous year, while revenue jumped 4% year-over-year to $68.27 billion. The results follow HSBC's completion of the Hang Seng Bank privatization on January 26 and come amid reports the bank plans to implement stricter performance-based compensation similar to Wall Street peers.

• Pre-tax profit of $29.91 billion exceeded the $28.86 billion estimate, driven by strong performance in wealth division and Hong Kong businesses
• Revenue reached $68.27 billion versus $67.36 billion expected, marking a 4% year-over-year increase despite the 7.4% profit decline
• HSBC completed Hang Seng Bank privatization in late January and is reportedly moving toward minimal or no bonuses for underperformers in investment banking and wealth management to improve operational efficiency

President Trump stated that Iran wants a nuclear deal more than the U.S. ahead of a third round of negotiations scheduled for Thursday in Geneva. Tehran's refusal to commit to not developing nuclear weapons remains the primary obstacle to an agreement, while the U.S. continues building up military forces in the Middle East and threatening limited airstrikes.

• Iran has proposed sending half of its highly enriched uranium abroad and diluting the rest in exchange for sanctions relief and recognition of its enrichment rights
• Trump has given Iran a two-week deadline to reach a deal and ordered the departure of non-emergency personnel from the U.S. embassy in Beirut amid escalating tensions
• Previous negotiation rounds in Geneva failed to achieve meaningful breakthroughs, though Iranian President Pezeshkian said recent talks yielded 'encouraging signals'

Hyundai Motor Group plans a multi-billion dollar investment in South Korea's Saemangeum area to build a robot factory, data centre, hydrogen infrastructure, and other facilities. The company and the South Korean government are expected to sign a preliminary agreement as early as this week, though Hyundai declined to comment on the reports.

• The investment will focus on advanced manufacturing and infrastructure, including robotics, data centres, and hydrogen facilities in the west coast Saemangeum region
• A preliminary deal between Hyundai Motor Group and the government could be signed within days, according to sources
• The multi-billion dollar commitment represents a major domestic expansion for South Korea's largest automaker

Axon Enterprise, the maker of TASER weapons and law enforcement technology, exceeded Wall Street's Q4 profit expectations with adjusted earnings of $2.15 per share and revenue of $796.7 million versus estimates of $755.2 million. The company is benefiting from strong demand for security devices and software products, projecting 2026 revenue growth of 27% to 30%.

• Connected devices segment revenue jumped 38% to $454.2 million, driven by TASER 10, body cameras, counter-drone solutions, and VR training systems, though margins declined from 52.2% to 49.3% due to tariffs and product mix
• Software and services segment grew 40% to $342.5 million, fueled by new users and increased adoption of premium offerings by existing customers
• Company forecasts 2026 revenue growth of 27% to 30% year-over-year, signaling continued strong momentum in law enforcement and security markets

Thomson Reuters shares surged by their largest percentage gain since 2009 after the company announced its CoCounsel AI legal assistant reached 1 million users. The jump followed positive sentiment around AI adoption and came after recent market concerns about AI competition in the legal software sector. The achievement demonstrates strong commercial traction for Thomson Reuters' fiduciary-grade AI strategy in the legal market.

• CoCounsel, acquired through the $650 million purchase of Casetext in 2023, automates legal research, document review, and drafting for lawyers
• Thomson Reuters' Legal Professionals division generates approximately one-third of the company's total sales, making AI adoption critical to its core business
• The company differentiates itself from general-purpose AI startups through proprietary intellectual property including centuries of legal archives, much of it undigitized or unavailable publicly

China's leading chipmakers, including SMIC and Hua Hong Semiconductor, are ramping up production of advanced semiconductors at 7-nanometer and potentially 5-nanometer nodes to meet growing AI demand. China plans to increase advanced chip output from under 20,000 wafers currently to 100,000 wafers within one to two years, with a longer-term target of adding 500,000 wafers of capacity by 2030.

• Production targets show a five-fold increase in advanced chip output to 100,000 wafers within 1-2 years from current levels below 20,000 wafers
• Expansion focuses on 7nm and 5nm chip technology, representing the most advanced production capabilities available to Chinese manufacturers
• China's aggressive 2030 goal aims to add 500,000 wafers of additional capacity to support AI development and reduce foreign chip dependence

Mediterranean restaurant chain Cava reported better-than-expected fourth-quarter same-store sales growth of 0.5% (versus estimates of a 1.1% decline) and surpassed $1 billion in annual revenue for the first time in fiscal 2025. The positive results were driven primarily by a 1.7% menu price increase, which offset a 1.4% decline in customer traffic.

• Cava beat Q4 earnings expectations with revenue of $275 million (vs. $268 million expected), marking nearly 21% year-over-year growth, and opened 72 net new restaurants to reach 439 total locations
• The company raised menu prices about 1.7% in early 2025 and plans 'very modest increases' for 2026, while CFO noted success in creating a 'bridge' in the K-shaped economy with strong performance in lower-income markets
• For fiscal 2026, Cava forecasts 74-76 net new restaurant openings and same-store sales growth of 3% to 5%, with plans to introduce salmon as its first seafood offering

Workday projected fiscal 2027 subscription revenue of $9.93-$9.95 billion, missing Wall Street's $10 billion expectation, as businesses curtail technology spending amid economic uncertainty and higher interest rates. The enterprise software company cited that macroeconomic headwinds are causing corporations to delay purchasing decisions and scrutinize large software investments, impacting new client acquisitions despite the company's AI initiatives.

• Fiscal 2027 subscription revenue forecast of $9.93-$9.95 billion falls short of analyst estimates of $10 billion
• Economic uncertainty and elevated interest rates are driving businesses to delay and scrutinize big-ticket software investments
• Q4 total revenue of $2.53 billion slightly exceeded analyst expectations of $2.52 billion for the quarter ended January 31

Lucid Group reported mixed Q4 2025 results, widely missing earnings expectations while beating revenue estimates by 12%. The EV maker laid off 12% of its U.S. salaried workforce and revised 2025 production downward due to internal validation issues, but forecasts 40-51% production growth in 2026 to between 25,000 and 27,000 units.

• Lucid reported a net loss of $2.7 billion in 2025 (flat year-over-year) but revenue increased 68% to $1.35 billion, with Q4 revenue more than doubling to $523 million
• The company revised 2025 production down to 17,840 units (from 18,378) due to 538 vehicles not completing internal validation procedures
• Lucid ended 2025 with $4.6 billion in liquidity and plans to launch a midsize vehicle and its first robotaxis in 2026, with an investor day scheduled for March 12

Payments firm Stripe is reportedly exploring a potential acquisition of PayPal or its assets, according to Bloomberg News citing sources familiar with the matter. Stripe, a privately held company and one of the industry's most valuable firms, has expressed preliminary interest in acquiring the digital payments pioneer. Neither company has confirmed the report.

• Stripe has expressed preliminary interest in acquiring all or parts of PayPal, one of the digital payments industry's pioneer companies
• Stripe is privately held and ranks among the most valuable companies in the payments industry
• Neither PayPal nor Stripe provided comment on the report, and Reuters could not independently verify the information

SambaNova Systems raised $350 million in funding led by Vista Equity Partners and Cambium Capital, with participation from Intel Capital, to expand its AI inference chip business. The company also partnered with Intel on a multi-year agreement to deliver AI inference solutions, while SoftBank will be the first customer to deploy SambaNova's new SN50 chip in Japan.

• The funding will support expansion of SambaNova's SN50 AI chip, scale its SambaCloud platform, and deepen enterprise software integrations
• SoftBank Corp will be the first customer to deploy the SN50 chip within its AI data centres in Japan
• The deal follows stalled acquisition talks between Intel and SambaNova, where Intel had previously discussed acquiring the startup for roughly $1.6 billion including debt

U.S. oil major Chevron has sold its first cargo of Venezuelan crude oil to India's Reliance Industries since December 2023. The sale includes Boscan heavy crude, used in asphalt production, marking the first such transaction in approximately six years according to ship tracking data and sources.

• Chevron negotiated the Boscan crude cargo to Reliance Industries this month, resuming sales of this heavy oil grade after a six-year hiatus
• The crude is specifically used in asphalt making, representing a niche but important market segment
• This transaction signals a continuation of Chevron's Venezuelan oil operations following a previous sale in December 2023

Microsoft announced a collaboration with SpaceX's Starlink satellite internet service to expand global connectivity, particularly in underserved communities. The partnership is notable given ongoing legal tensions between Microsoft-backed OpenAI and SpaceX CEO Elon Musk, who is seeking up to $134 billion in damages from OpenAI. The initiative will combine Starlink's low-Earth orbit satellite technology with community-based deployment models.

• Microsoft and Starlink are working with a Kenyan internet service provider to connect 450 community hubs in Kenya as part of the global connectivity effort
• Elon Musk is currently suing Microsoft-backed OpenAI and CEO Sam Altman, seeking to recover as much as $134 billion from the OpenAI Foundation
• Microsoft has exceeded its 2022 goal of bringing internet to 250 million people by 2025, having extended coverage to over 299 million people

Apple shareholders rejected a proposal calling for a report on the company's business ties to China. The vote occurred as Apple has spent nearly a decade diversifying its manufacturing base to countries including Vietnam, India, and the United States to reduce dependence on Chinese production.

• Shareholders voted down the resolution seeking transparency on Apple's China operations and potential risks
• Apple has been actively expanding manufacturing to Vietnam, India, and the U.S. over the past decade
• The company announced plans to produce products in the U.S. to meet domestic demand starting later this year

California's Attorney General Rob Bonta filed for a preliminary injunction against Amazon, alleging the company pressures merchants to inflate prices and avoid selling goods more cheaply on competing platforms like eBay, Target, and Walmart. The state claims Amazon threatens merchants with restricted access to its crucial 'Buy Box' feature if they don't comply, seeking to stop this conduct and appoint a monitor pending trial in January 2027.

• California uncovered 'countless' instances where Amazon allegedly coordinated with rivals and merchants to fix prices or make products temporarily unavailable to prevent price undercutting
• Merchants who rejected Amazon's demands face being cut off or denied access to the 'Buy Box,' which accounts for the vast majority of sales on Amazon's platform
• Amazon defends its practices as 'procompetitive,' legal, and beneficial to consumers through increased product selection and competitive pricing

Chinese dronemaker DJI has filed a lawsuit in the U.S. Court of Appeals for the 9th Circuit challenging the Federal Communications Commission's December decision to ban imports of all new DJI drone models and critical components. The FCC ruling affects DJI, Autel, and other foreign drone companies, preventing them from obtaining necessary approvals to sell new models in the U.S., though existing versions can still be sold.

• The FCC ban blocks DJI and other foreign drone companies from obtaining regulatory approval needed to sell new drone models or critical components in the U.S. market
• DJI can continue selling existing drone versions already approved, but cannot introduce new technology or updated models to American customers
• DJI argues the FCC decision 'carelessly restricts' its U.S. business and denies American customers access to its latest drone technology

Google will build its first data center in Pine Island, Minnesota, a town of about 4,000 people located 70 miles southeast of Minneapolis. The project includes deploying 1,900 megawatts of new renewable energy (1,400 MW wind, 200 MW solar, 300 MW battery storage) through an agreement with utility Xcel Energy. The facility faces community opposition over energy and environmental concerns but has received city council approval with $36 million in tax abatements.

• Google will pay 100% of electricity costs and all grid infrastructure expenses, ensuring no additional costs for other ratepayers, with renewable projects expected online in 2028-2029
• Pine Island approved the project with $36 million in tax abatements and expects to collect over $130 million in tax revenue from the data center
• The project has faced local opposition including a lawsuit filed in October by a resident group challenging the environmental review, reflecting broader political blowback against data centers nationwide

Alphabet-owned Waymo has expanded its robotaxi service to select users in Dallas, Houston, San Antonio, and Orlando, bringing its total operating footprint to 10 U.S. cities. The expansion strengthens Waymo's lead in the North American autonomous ride-hailing market as it aims to establish customer loyalty before competitors like Tesla, Amazon's Zoox, and other startups launch their own services.

• Waymo now provides over 400,000 paid trips per week across the U.S. and has surpassed 20 million total trips since launching its service
• The company operates approximately 3,000 autonomous vehicles and plans to make the service generally available in the four new markets by the end of 2026
• Waymo recently raised $16 billion in funding at a $126 billion valuation, though it faces regulatory scrutiny from NHTSA regarding vehicle behavior around schools and during adverse weather conditions

Henry Schein beat fourth-quarter profit estimates on February 24, reporting its highest sales growth in 15 quarters driven by strong dental and medical equipment demand. The company's dental distribution equipment sales rose 12.2% year-over-year, with quarterly revenue reaching $3.44 billion, exceeding Wall Street expectations of $3.35 billion.

• Adjusted earnings of $1.34 per share beat estimates of $1.30, while quarterly sales grew 7.7% to $3.44 billion versus consensus of $3.35 billion
• The company forecasts 2026 adjusted earnings of $5.23 to $5.37 per share, largely in line with Wall Street expectations, and projects total revenue growth of 3% to 5%
• Analysts view the results as 'potential signs of improved demand' after a turbulent 2025 marked by uneven patient visits and weakening demand for higher-cost dental procedures