Trending Market News

SK Hynix announced it will buy back and cancel 40 trillion won ($28.61 billion) worth of treasury shares, marking a significant shareholder return initiative by the South Korean chipmaker. The company also committed to spending at least 50% of its free cash flow generated between 2025 and 2027 on shareholder returns.

• The buyback and cancellation program totals 40 trillion won ($28.61 billion) in treasury shares
• SK Hynix will allocate a minimum of 50% of free cash flow from 2025-2027 to shareholder returns
• The company plans to pursue additional shareholder return measures beyond the announced buyback program

Target is reporting fiscal second-quarter earnings Wednesday morning as investors assess the retailer's turnaround progress under CEO Michael Fiddelke. The company's stock has surged over 55% this year, but analysts remain cautious about whether recent sales improvements demonstrate sustainable long-term growth amid ongoing consumer spending pressures.

• Wall Street expects earnings per share of unspecified amount and revenue of $26.14 billion for the fiscal second quarter
• Target posted its first positive same-store sales in five quarters last quarter, jumping 5.6%, and raised full-year revenue guidance while maintaining a 'cautious' outlook
• Deutsche Bank analysts remain 'sidelined' pending more evidence of sustainable market share gains and growth durability beyond fiscal 2027

Cerebras Systems announced its new CS-4 server system featuring dinner-plate-sized chips designed to accelerate AI chatbot inference tasks, competing directly with Nvidia in the AI hardware market. The system uses three large chips and a modular Nexus architecture, with 50% fewer components for faster data center deployment. The company projects delivering 600 megawatts of computing power by end of 2027.

• The CS-4 system uses WSE-3 Turbo chips manufactured with TSMC's 5-nanometer process and is available in Q3 2026
• Cerebras expects 4x speed improvement and 20x throughput increase by end of 2027, with another chip generation planned for that year
• The company recently reported $6.9 million profit on $180.1 million in sales, targeting the AI inference market dominated by chatbots like Anthropic's Claude

Keysight Technologies forecast fourth-quarter profit and revenue above Wall Street expectations, driven by strong demand for its testing equipment and software from AI data center expansion. The company expects adjusted profit of $3.34-$3.40 per share, well above analyst estimates of $2.70. The electronic equipment maker's third-quarter results also beat expectations as its communications solutions segment surged 43%.

• Third-quarter revenue grew 36.5% to $1.85 billion with adjusted profit of $3.07 per share, beating analyst expectations of $2.48 per share
• Communications solutions segment, representing two-thirds of revenue, jumped 43% with 56% growth in commercial communications driven by data center component demand
• Fourth-quarter profit guidance of $3.34-$3.40 per share significantly exceeds analyst consensus of $2.70, reflecting continued AI infrastructure buildout momentum

Apple announced a new fee structure for its European Union App Store operations, introducing a tiered commission system ranging from 5% to 26% depending on the distribution and payment method. The changes are designed to resolve disputes with EU regulators over the Digital Markets Act, which requires Apple to allow third-party app stores and alternative payment systems. The new fee schedule takes effect October 1, 2025.

• Apps purchased through Apple's App Store using Apple's payment system will pay 26% commission, while those using their own payment processing pay 20%, link-out purchases pay 15%, and third-party app store distributions pay 5%
• The changes replace Apple's previous more complicated system introduced in 2024 and respond to the EU's Digital Markets Act requiring 'gatekeepers' like Apple to open up their platforms to third parties
• Apple's App Store generates significant revenue within its Services division, though the company notably did not highlight it as a top growth driver in its most recent quarterly earnings for the first time since 2023

A ship was attacked while exiting the Strait of Hormuz, killing one crew member, amid ongoing U.S.-Iran tensions over the waterway. President Trump claimed the strait is 'open and operating' despite the attack, though ship traffic remains significantly depressed. At least 17 mariners have died in 65 attacks on commercial vessels since the U.S.-Iran conflict began on February 28.

• Ship transits through Hormuz averaged only 10 crossings over five days, the lowest since May 11, down from about 130 daily crossings before the war began
• Crude oil exports through the strait recovered to approximately 5 million barrels per day in July, up from 1.6 million bpd in May but still well below the pre-war level of 20 million bpd (one-fifth of global oil consumption)
• A memorandum of understanding between the U.S. and Iran to reopen Hormuz expired on Monday without a final deal, with Iran's parliamentary speaker stating the strait will remain closed until U.S. commitments are met

Disney-owned ABC filed a First Amendment lawsuit against the FCC in a Washington, D.C. district court, alleging the agency is conducting a retaliatory campaign due to programming critical of President Donald Trump. The lawsuit seeks to halt the FCC's early broadcast license renewal process, which was initiated citing concerns about Disney's diversity, equity and inclusion practices shortly after critical comments by late-night host Jimmy Kimmel.

• The FCC initiated an early review of ABC's broadcast station licenses based on concerns about Disney's DEI practices, departing from standard renewal procedures
• ABC alleges the early license review is retaliation for network programming critical of President Trump, including commentary from Jimmy Kimmel's late night show
• The lawsuit requests the court to stop the FCC's early broadcast renewal proceedings against ABC's stations

Airbus has tentatively scheduled the maiden flight of its delayed A350 freighter aircraft for the third week of September, according to industry sources. The company officially maintains its timeline of a first flight before year-end and initial delivery in the second half of 2027. This represents a key milestone for Airbus's cargo aircraft program.

• The A350F first flight is tentatively set for the third week of September, though Airbus has not officially confirmed this specific date
• Airbus maintains its public guidance of maiden flight before end of 2026 and first delivery in second half of 2027
• The A350 freighter program has experienced delays, making the September flight a critical milestone for the aircraft manufacturer

Sweden-based freight technology company Einride plans to deploy 500 Tesla electric semi-trucks across North America between September 2026 and 2028, marking the largest rollout of heavy-duty electric vehicles to date. The deployment will serve customers including Amazon across five states and triple Einride's electric truck fleet. The initiative supports converting approximately $800 million in potential long-term recurring revenue into active freight capacity.

• The 500-truck deployment will begin in September 2026 and be completed in phases through 2028, operating across freight corridors in California, Texas, New Jersey, Illinois, and Georgia
• Einride's AI-based monitoring system has logged over 19 million electric miles globally in seven years of commercial operations
• The rollout will be financed through third-party solutions and aims to convert about $800 million in potential annual recurring revenue into active freight capacity

Home Depot reported fiscal second-quarter results that exceeded Wall Street expectations for both earnings and revenue, while reaffirming its full-year guidance. The home improvement retailer continues to operate in what CFO Richard McPhail described as 'frozen housing market conditions,' with customers hesitant to undertake larger projects despite having the financial means to do so.

• Q2 earnings of $4.79 per share beat expectations, with revenue of $47.86 billion versus $47.27 billion expected; comparable sales rose 1.7%, the highest since fiscal Q3 2022
• Company reaffirmed fiscal 2026 guidance of 2.5%-4.5% total sales growth and 12.4%-12.6% operating margin, with tariff refunds expected to partially offset fuel, energy, and other input costs
• CEO Ted Decker is taking temporary medical leave for a few months, with operations oversight split between Ann-Marie Campbell (stores/operations) and CFO McPhail (financial management/pro business)

Saudi Aramco resumed oil loadings from inside the Strait of Hormuz in mid-August after a weeks-long halt following attacks on its tanker fleet during U.S.-Iran tensions. The state energy giant is offering spot cargoes of Arab Medium and Arab Heavy crude, with three VLCCs loading 2 million barrels each between August 12-16. This resumption could ease tight supply of heavy crude grades, though overall Saudi exports remain constrained by Houthi blockades in the Red Sea.

• Three VLCCs loaded 6 million barrels total from Juaymah and Ras Tanura terminals after a three-week gap, with six more vessels potentially loading later in August
• Saudi Arabia offered alternative loadings from Egypt's Sidi Kerir port, but only 670,000 barrels per day are expected this month versus the pre-blockade 4 million bpd from Yanbu
• The Sidi Kerir route to Asia is proving unpopular with Chinese refiners due to significantly longer voyage times and higher freight costs

Danish drugmaker LEO Pharma agreed to acquire worldwide rights to experimental drug dersimelagon from Tanabe Pharma for up to $435 million in up-front and near-term milestone payments. The drug candidate treats rare genetic skin disorders causing extreme sunlight sensitivity. This acquisition supports LEO Pharma's growth strategy as it explores a potential stock market listing.

• Dersimelagon is an oral treatment for erythropoietic protoporphyria (EPP) and X-linked protoporphyria (XLP), affecting approximately 5,000 U.S. patients, and would be the first oral treatment if approved
• FDA approval could come as early as 2027 with no anticipated delay between approval and commercial launch
• The deal includes additional downstream milestone payments and tiered royalties on net sales, part of LEO Pharma's strategy to expand into rare genetic skin disease treatments

Synchrony Financial, a credit card issuer for major retail brands, announced a partnership with OpenAI to integrate AI models into its consumer portals and shopping experiences. The collaboration aims to help Synchrony remain competitive as AI agents increasingly assist consumers with product research and purchasing decisions.

• OpenAI's models will power Synchrony's consumer portals to create smoother online shopping experiences for customers of partner brands including Amazon, Lowe's, and Gap
• Synchrony is launching a ChatGPT plugin allowing consumers to browse marketplace deals, promotional financing, and partner offers
• The company is deploying OpenAI's latest models internally to accelerate product development and prepare for an AI-driven commerce future

BHP Group reported full-year underlying profit of $13.20 billion, beating analyst estimates of $12.66 billion, and announced its highest annual dividend in four years at $1.72 per share. The strong results were driven by record copper prices above $14,000 per tonne, with copper earnings of $18.19 billion surpassing iron ore as the company's largest earnings driver for the first time.

• Copper division generated $18.19 billion in operating earnings, exceeding iron ore's $14.53 billion and becoming BHP's top earnings driver amid AI data center demand and clean energy transition
• Full-year underlying profit rose 30% to $13.20 billion, while net debt fell to $8.7 billion, below the company's target range of $10-12 billion
• BHP projects copper production could increase 40% by 2035 to 2 million tonnes annually, with global demand expected to reach 50 million tonnes by 2050 from 34 million tonnes currently

Edward Zimbardi, 59, of Georgia was deported from Fiji and charged with operating a cryptocurrency Ponzi scheme called The Crypto Program that defrauded over 6,000 investors of more than $165 million. He faces 25 federal counts including wire fraud, money laundering, and conspiracy charges related to the scheme that ran from June 2022 to August 2023.

• Zimbardi promised investors a guaranteed 25% monthly return on a $550 initial investment in 'online advertising packages' but instead allegedly lost tens of millions betting on foreign currency and spent at least $10 million on personal expenses including a house for his son and alimony payments
• He fled to Fiji in July 2025 after learning of an FBI investigation and skipped his son's wedding in Virginia to avoid arrest before being tracked down by investigators and extradited to the United States
• The scheme operated as a classic Ponzi, using new investor money to repay earlier investors, with prosecutors noting victims were located 'all over the world'

Paramount Skydance is requesting that a dozen state attorneys general challenging its $110 billion acquisition of Warner Bros Discovery post a $1.88 billion bond. The company faces a $7 million daily penalty if the merger doesn't close by September 30, with the trial scheduled for March. Paramount seeks the bond to cover costs associated with delays in completing the transaction.

• Paramount faces $7 million per day in fees if the merger does not close by the September 30 deadline
• The total merger value is $110 billion, with twelve states mounting a legal challenge
• The trial is scheduled for March, meaning significant delay costs will accumulate before any final legal resolution

ExxonMobil awarded approximately $1.1 billion in pre-investment contracts for upstream equipment for the Rovuma LNG Phase 1 project in Mozambique's Cabo Delgado region. The contracts, awarded on behalf of Area 4 partners including ENH, CNPC, Eni, Korea Gas Corp, and ADNOC's XRG, are intended to advance the project toward a final investment decision. The project had been under force majeure since November after operations were paused in 2021 due to security concerns.

• Contracts cover subsea production systems, large-bore production valves, and offshore line pipe, with OneSubsea UK and OneSubsea AS receiving the largest award for engineering, procurement, fabrication and manufacturing
• Area 4 partners include Mozambique's state oil company ENH, China National Petroleum Corp, Italy's Eni, Korea Gas Corp, and Abu Dhabi National Oil Co's XRG
• The project has been under force majeure since November following a 2021 operational pause due to security concerns in southern Africa

Stellantis announced a recall of 955,000 vehicles worldwide due to radio software that may prevent rear-view cameras from functioning properly. The recall affects 848,000 vehicles in the United States and 107,000 in other markets including Canada and Mexico. Multiple 2026 and 2027 model year vehicles across Chrysler, Dodge, Jeep, and Ram brands are impacted.

• The recall covers 848,000 U.S. vehicles and 107,000 internationally across Canada, Mexico, and other markets
• Affected models include various 2026 and 2027 year vehicles: Chrysler Pacifica and Voyager, Dodge Charger, multiple Jeep models (Cherokee, Compass, Gladiator, Grand Cherokee, Grand Wagoneer, Wrangler), and Ram trucks (1500, 2500, ProMaster)
• The defect involves radio software malfunction that can disable rear-view camera operation, a critical safety feature

Uber Technologies and Zipline announced a partnership to bring autonomous drone delivery to Uber Eats customers across the United States, with Uber making a strategic investment in the drone delivery company. The companies aim to reach 1 million drone deliveries per day by the end of 2029, with initial deliveries starting later this year.

• Service will launch first in Zipline's existing U.S. markets before expanding to dozens of additional cities, with first deliveries beginning later in 2024
• Zipline, valued at $7.6 billion after raising $800 million earlier this year, has made 2 million deliveries across four continents and partners with Walmart, Panera, Chipotle, and Wendy's
• The partnership follows a similar deal structure to Uber's 2023 investment in drone firm Flytrex, though financial details of the Zipline investment were not disclosed

Chevron announced on Monday that it has discovered oil and gas condensate at an exploration well in Block 0, located offshore Angola. The discovery represents a new hydrocarbon find for the company in its Angolan operations.

• The discovery was made at an exploration well in Block 0, offshore Angola
• The find includes both oil and gas condensate resources
• This marks Chevron's continued exploration activity in Angolan waters