Trending Market News

Skyworks Solutions forecast second-quarter earnings above Wall Street estimates, driven by strong demand for its 5G chips used in smartphones, including Apple's iPhone 17. The chipmaker expects Q2 revenue of $875-925 million versus analyst estimates of $869.7 million, reflecting robust growth in wireless communication and infrastructure markets.

• Q2 adjusted profit forecast at $1.04 per share with revenue projected between $875-925 million, exceeding analyst estimates of $869.7 million
• Q4 revenue reached $1.04 billion, slightly above the $1 billion estimate, boosted by iPhone 17 demand and 5G chip adoption
• Growth driven by multiple segments including 5G phones, Wi-Fi 7, data center infrastructure, and its position as an Apple supplier for radio-frequency chips

Advanced Micro Devices forecast first-quarter revenue of approximately $9.8 billion, exceeding analyst estimates of $9.39 billion, driven by strong demand for its AI chips amid massive data center expansions. AMD is positioning itself as the primary challenger to Nvidia's dominance in AI chips while also benefiting from increased server CPU demand as it gains market share from Intel.

• AMD expects Q1 revenue of about $9.8 billion (plus or minus $300 million), surpassing the analyst consensus of $9.39 billion
• The company benefits from dual advantages: growing AI chip demand and server CPU market share gains from Intel, which faces supply constraints due to in-house production limitations
• Industry-wide memory chip shortages, particularly high bandwidth memory (HBM) used in AI processors, could constrain growth despite strong demand, while higher memory prices may hurt PC sales

Goldman Sachs' general counsel Kathryn Ruemmler accepted luxury gifts from convicted sex offender Jeffrey Epstein and advised him on media responses between 2014-2019, according to newly released DOJ documents. Ruemmler, a former Obama White House counsel, maintained contact with Epstein years after his 2008 guilty plea for procuring a minor for prostitution. Goldman Sachs has backed Ruemmler, with CEO David Solomon previously calling her 'an excellent general counsel.'

• Ruemmler received expensive gifts including an Hermes watch, boots, and handbag from Epstein, with emails showing her enthusiasm: 'Am totally tricked out by Uncle Jeffrey today!'
• She advised Epstein in 2019 on how to respond to media inquiries about alleged special legal treatment due to his connections, after his 2008 conviction
• Ruemmler defended the relationship as attorney-client based, stating she 'had no knowledge of any ongoing criminal conduct' and did not know Epstein as 'the monster he has been revealed to be'

Clorox missed second-quarter profit estimates as budget-conscious consumers shifted to cheaper alternatives amid high inflation, while the company faced elevated manufacturing and logistics costs. The bleach and cleaning products maker's Household segment saw adjusted EBIT fall 54% due to higher costs and lower sales. Despite the miss, Clorox reaffirmed its annual guidance and is pursuing a $2.25 billion acquisition of Purell maker to expand in health and hygiene.

• Household segment adjusted EBIT plunged 54% in the quarter due to higher manufacturing and logistics costs combined with reduced net sales
• Adjusted earnings per share of $1.39 missed analyst expectations, though revenue of $1.67 billion beat estimates (expected $1.64 billion, down 2.7%)
• Company reaffirmed annual forecast of 6-10% sales decline and is acquiring Purell maker for $2.25 billion while diversifying into ready-to-eat snacks

Match Group, parent company of Tinder and Hinge, forecast first-quarter 2026 revenue above analyst estimates, signaling progress in its turnaround strategy focused on improving user experience and trust. The company is investing heavily in AI-driven safety features and product changes despite near-term pressure from declining paying users, which fell 5% to 13.8 million in Q4. CEO Spencer Rascoff expects continued revenue declines at Tinder through 2026 as the company prioritizes long-term sustainable growth over short-term gains.

• First-quarter revenue guidance of $850-$860 million exceeded analyst estimates of $853.3 million, while Q4 revenue of $878 million also beat expectations of $871.3 million
• Hinge showed strong growth with paying users rising 17% to 1.9 million, driven by international expansion into Mexico and Brazil, with plans to enter Argentina, Chile, Peru, and increase India investments in 2026
• New product features include a 'chemistry' tool for authentic interactions and face-verification technology to reduce impersonation, as the company addresses younger users becoming more selective and leaving platforms faster

Chipotle stock has dropped 11% following weak fourth-quarter results and a disappointing outlook. The restaurant chain reported its third consecutive quarter of declining customer traffic, with same-store sales projected to have fallen 3% in Q4. The company's market value has decreased to approximately $51 billion, with shares down 33% over the past year.

• Chipotle has experienced traffic declines for three straight quarters, with CEO Scott Boatwright citing 'consistent macroeconomic pressures' affecting consumers across all income levels
• Wall Street analysts expected Q4 revenue of $2.96 billion, with same-store sales estimated to have decreased 3% year-over-year
• Investors are focused on the company's full-year forecast to determine whether management expects a near-term turnaround in the business

Take-Two Interactive raised its fiscal 2026 bookings forecast to $6.65-$6.7 billion from a prior range of $6.4-$6.5 billion, driven by strong sales of premium sports, action, and mobile titles. The company confirmed that 'Grand Theft Auto VI' will launch on November 19 as previously scheduled. Strong holiday demand for the company's games supported the improved outlook.

• Annual bookings forecast increased by approximately $200-250 million, now targeting $6.65-$6.7 billion for fiscal 2026
• 'Grand Theft Auto VI' launch date remains confirmed for November 19, maintaining the highly anticipated timeline for investors and fans
• Holiday period sales remained robust as consumers increased discretionary spending on premium and mobile gaming titles

Texas Instruments is in advanced negotiations to acquire chip designer Silicon Laboratories for approximately $7 billion, according to a Financial Times report. The deal would represent a significant consolidation move in the semiconductor industry, though Reuters has not independently verified the report.

• The proposed acquisition is valued at around $7 billion
• Talks are described as being in 'advanced' stages, suggesting a deal may be near completion
• The transaction would combine two chip companies, with Texas Instruments acquiring Silicon Laboratories' design capabilities

Amgen reported fourth-quarter results that exceeded Wall Street expectations, with revenue rising 9% year-over-year to $9.9 billion versus the $9.5 billion analyst estimate. The beat was driven by 7% growth in drug sales and a lower tax rate that declined 7.8 percentage points due to adjustments in U.S. tax on foreign subsidiaries.

• Cholesterol drug Repatha led performance with sales jumping 44% to $870 million, beating the $793 million estimate, though the company expects mid-single digit price declines in 2026
• Arthritis drug Enbrel sales plummeted 48% to $532 million (vs. $679 million estimate) primarily due to lower Medicare pricing, while eye disease drug Tepezza missed expectations at $457 million versus $554 million estimated
• The company is conducting six Phase 3 trials for an experimental obesity drug across multiple conditions and enrolling patients in a Phase 1 trial for another weight-loss candidate, AMG513

The U.S. government and 35 states have filed an appeal in the landmark antitrust case against Google's search business. A federal judge in 2024 ruled that Google holds a monopoly in online search but rejected the most severe remedies proposed by regulators. The appeal seeks to challenge the decision's outcome and potentially pursue stronger enforcement actions.

• A 2024 federal court ruling found Google has a monopoly in online search but denied the toughest remedies sought by regulators
• 35 states plus the District of Columbia, Guam, and Puerto Rico joined the appeal alongside the federal government
• The appeal represents continued efforts to impose stricter antitrust enforcement on Alphabet's Google despite the initial partial victory

KKR is preparing Wella Company, owner of OPI nail polish and Wella hair products, for a U.S. IPO as soon as 2026 that could value the beauty company at significantly more than the $4.3 billion KKR paid for it. The company has hired Bank of America and Goldman Sachs to work on the listing. KKR initially acquired 60% of Wella from Coty in 2020 and recently purchased the remaining stake in December 2025.

• KKR bought its initial 60% stake in Wella from Coty in 2020 at a $4.3 billion valuation (including debt), then acquired the remaining 25.8% for $750 million in December 2025
• Coty will receive 45% of proceeds from any IPO or sale after KKR's preferred return is met, per the December 2025 agreement
• Wella employs over 6,000 people and owns multiple beauty brands including OPI, Briogeo, ghd, and Clairol, with operations across Geneva, New York, London, and California

Nvidia CEO Jensen Huang dismissed reports of tension with OpenAI, stating the chipmaker's investment plans remain 'on track' and there is 'no drama' between the companies. Huang confirmed Nvidia will participate in OpenAI's next fundraising round, potentially the largest private round in history at up to $100 billion, and expressed interest in a future OpenAI IPO.

• Nvidia announced a letter of intent in September to invest in OpenAI in tranches, supporting AI infrastructure requiring up to 10 gigawatts of power, though the deal has not been finalized
• OpenAI has been diversifying chip suppliers beyond Nvidia, striking deals with competitors including AMD, Broadcom, and Cerebras to meet demand for products like ChatGPT
• Both CEOs publicly affirmed their partnership, with Altman calling Nvidia's chips 'the best AI chips in the world' and stating OpenAI hopes to remain 'a gigantic customer for a very long time'

Spain's Santander announced a $12.2 billion acquisition of U.S. regional lender Webster Financial on Tuesday. The deal will strengthen Santander's U.S. presence and create a top-ten retail and commercial bank in the country by assets, with closure expected in the second half of 2026.

• Santander offered 2.0548 of its shares for each Webster Financial share in the all-stock transaction
• The acquisition will create a top-ten U.S. retail and commercial bank by assets
• Centerview Partners, Goldman Sachs, and Bank of America advised Santander on the transaction

Intel CEO Lip-Bu Tan announced on February 3, 2025, that the company plans to build graphics processing units (GPUs), entering a chip category dominated by Nvidia. The announcement was made at an AI conference in San Francisco and includes the hiring of a chief GPU architect to lead the effort.

• Intel is entering the GPU market, directly competing with Nvidia in a chip category crucial for artificial intelligence applications
• The company has already hired a chief GPU architect to lead the initiative, with CEO Tan noting the executive required 'some persuasion' to join
• The announcement represents a significant strategic shift for Intel as it seeks to expand beyond its traditional processor business into high-demand AI chip markets

The U.S. government is preparing to issue a general license as early as this week that would allow companies to produce oil and gas in Venezuela. The Trump administration is pursuing this policy to expand oil output from the OPEC member nation. Three sources familiar with the matter confirmed the development to Reuters.

• The license would enable broader energy production operations in Venezuela, marking a significant shift in U.S. sanctions policy toward the country
• The move aligns with the Trump administration's goal to increase global oil supply by tapping into Venezuela's OPEC production capacity
• The authorization is expected to be issued imminently, potentially within the current week according to sources close to the matter

Alphabet is planning a significant expansion in India, potentially leasing millions of square feet of office space in Bengaluru. The move comes amid stricter U.S. visa regulations that may be driving tech companies to increase their presence in international markets with strong tech talent pools.

• Alphabet is considering 'millions of square feet' of new office space in Bengaluru, India's primary technology hub
• The expansion timing coincides with tightening U.S. visa rules, suggesting a strategic shift to access talent in alternative markets
• The move represents a 'dramatic expansion' of Google's parent company's footprint in India, one of the world's largest tech talent markets

Walmart reached a $1 trillion market valuation for the first time, marking a significant milestone for the retail giant. The achievement was celebrated at the Nasdaq Market in New York on February 3, as the company's market capitalization crossed this threshold.

• Walmart becomes one of the few companies to achieve the $1 trillion market cap milestone, joining an elite group of mega-cap corporations
• The company celebrated its listing transfer at Nasdaq Market on December 9, 2025, several months before reaching this valuation milestone
• This milestone reflects Walmart's continued strength in the retail sector amid broader market conditions

Rocket Companies stock rose 6% after CEO Varun Krishna reported the company is on track for its highest mortgage loan production in four years. The surge follows a 22 basis point drop in 30-year mortgage rates to 5.99% in recent weeks, partly driven by presidential instruction for mortgage giants to purchase $200 billion in mortgage bonds.

• 30-year mortgage rates fell to 5.99%, matching the low from February 2, 2023, creating favorable conditions for refinancing and new mortgages
• Rocket's competitive advantage comes from linking mortgage servicing and origination, allowing the company to retain and recapture customers for future transactions using AI-powered platforms
• Industry forecasts project mortgage market growth of up to 25% through 2026, with existing home sales potentially rising 10% as affordability improves

PayPal announced the appointment of Enrique Lores as its new president and CEO, effective March 1. Lores, currently the President and CEO of HP Inc., will take the helm at the digital payments company. This leadership change marks a significant transition for PayPal as it brings in an executive with experience leading a major technology company.

• Enrique Lores will assume the role of PayPal's president and CEO starting March 1
• Lores is currently serving as President and Chief Executive Officer of HP Inc., bringing cross-industry tech leadership experience
• The announcement was made on February 3, representing a major executive transition for the digital payments platform

Pfizer reported fourth-quarter profit exceeding Wall Street expectations, driven by strong demand for older drugs like blood thinner Eliquis, which offset declining COVID-19 product sales. The company faces significant challenges ahead, including patent expirations on key drugs and does not expect revenue growth to return until 2029. Pfizer is pursuing new blockbuster medicines, including obesity drugs from recent acquisitions, to fuel future recovery.

• Q4 sales reached $17.56 billion, surpassing analyst estimates of $16.95 billion, with adjusted profit of 66 cents per share
• Strong performance in heart and oncology drugs compensated for fading COVID product demand
• Company anticipates multi-year challenges from patent expirations allowing generic competition, with revenue growth not expected before 2029