Chip Designer Ambarella Explores Potential Sale
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Chip design company Ambarella Inc. is considering options including a potential sale, according to people familiar with the matter.
Ambarella, which is working with bankers, has reached out to potential buyers, said the people, who asked not to be identified discussing private information. The company, whose stock rose as much as 20% on the news, has a market value of about $2.6 billion.
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13 minutes ago
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Stock market today: Dow, S&P 500, Nasdaq rise in march to latest records
US stocks moved higher on Friday, holding near record highs as signs of strength in the economy provided the buoyancy that Netflix's (NFLX) earnings report lacked. The Dow Jones Industrial Average (^DJI) added 0.1% while the S&P 500 (^GSPC) rose 0.2% and the tech-focused Nasdaq Composite (^IXIC) climbed 0.3% Stocks are consolidating after the S&P 500 and Nasdaq Composite vaulted to their latest all-time closing highs on Thursday. Wall Street welcomed a softening in jobless claims and stronger-than-expected retail sales, which showed little indication that President Trump's tariffs are affecting consumer spending habits. Read more: The latest on Trump's tariffs On the downside, Netflix's second quarter results failed to enthuse the market, pulling the stock about 1% lower in premarket trading. The streaming giant kicked off Big Tech earnings late Thursday with a wide profit beat and a solid revenue number. But investors likely wanted a bigger boost to full-year guidance to justify a raise on an already lofty valuation, analysts suggested. Meanwhile, earnings continue to roll in, with a focus on whether they continue to reflect steady resilience in corporate America. Friday's highlights include 3M (MMM), American Express (AXP), and Charles Schwab (SCHW). Read more: Full earnings coverage in our live blog The major indexes are set for weekly wins, with this week's drama involving Trump's fury with Fed Chair Jerome Powell largely on the back burner. Powell sent a letter to Trump's top budget official on Thursday, defending the Fed's headquarters renovation project for which he has come under fire in recent days. But already, the focus is turning to who could replace Powell next year and the additional dual mandate that person will face: keeping Trump happy while attempting to maintain the Fed's independence. Stocks tick higher after hitting fresh records Stocks were in the green at the opening bell after hitting fresh records in the previous session amid investor enthusiasm over stronger-than-expected economic data. The S&P 500 (^GSPC) rose 0.2% while the Dow Jones Industrial Average (^DJI) added 0.1%, and Nasdaq Composite (^IXIC) was up 0.3% in early trading. The S&P and Nasdaq rose to fresh records on Thursday. Second quarter earnings continued to roll in with morning reports from 3M (MMM), American Express (AXP), and Charles Schwab (SCHW). Waller makes strongest call yet for rate cut in July, underscoring Fed divide Yahoo Finance's Jennifer Schonberger reports: Read more here. Market volatility provides Charles Schwab a tailwind in Q2 Charles Schwab (SCHW) stock rose 3% ahead of the opening bell as the company's adjusted profits surged more than 50% year over year. Market volatility surrounding President Trump's tariffs fueled higher trading activity for the brokerage. The company reported adjusted earnings per share of $1.14, beating Wall Street estimates for EPS of $1.10. Revenue came in at $5.9 billion, above expectations for $5.7 billion. Charles Schwab also brought in new assets of $80.3 billion, representing 31% growth annually. 'Schwab delivered growth on all fronts during the second quarter,' Charles Schwab CEO Rick Wurster said. 'The firm's diversified revenue model, coupled with our best-in-class scale and efficiency, produced quarterly records for both revenue and earnings per share.' Listen to the earnings call live at 9:30 a.m. ET here. 3M stock gains on earnings beat, smaller tariff hit forecast 3M (MMM) stock rose over 2% in premarket trading on Friday after posting an earnings beat and raising its full-year profit forecast. The Scotch tape maker reported second quarter adjusted earnings per share of $2.16 on revenue of $6.16 billion, both above estimates. It now sees full-year adjusted profits between $7.75 and $8 per share, compared with its previous estimate of $7.60 to $7.90. 3M also projected tariffs would create a smaller hit to earnings this year than previously expected. Its forecast includes a $0.10 per share hit to 2025 earnings, versus the $0.20 to $0.40 impact it guided for previously. Other companies have also scaled back their projected losses from tariffs. Earlier this week, Johnson & Johnson (JNJ) halved its expected tariff impact to $200 million. Read more here from Reuters. Chevron to proceed with Hess deal after winning legal battle against Exxon Chevron (CVX) and Hess (HES) have won an arbitration battle against Exxon (XOM) over access to an oil project off the coast of Guyana. Chevron stock rose 3% premarket, while shares of Hess climbed 7%. Exxon's stock declined less than 1%. The result clears the way for Chevron to proceed with its $53 billion acquisition of the smaller oil firm, whose value was partially tied up in its 30% stake in the Guyanese oil project shared with Exxon. Chevron had said it could delay or terminate the acquisition altogether if it didn't win the arbitration. But in the end, it prevailed. "We disagree with the International Chamber of Commerce (ICC) panel's interpretation but respect the arbitration and dispute resolution process," Exxon said in a statement. Read more here. UK stocks seem to be reversing years of underperformance Overseas investors are starting to warm up to the UK's unloved stocks as a UK-US trade deal, lighter regulation, and cheap stocks deliver juicy returns versus the rest of Europe. The FTSE 100 (^FTSE) has gained nearly 10% this year to hit record highs this week, beating the STOXX 600 (^STOXX), which is up 7.5%. Reuters reports: Read more here. Battery materials stocks jump after US lays out 93.5% graphite duty Bloomberg reports: Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China. Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. ( climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG) The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry. Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year. Read more here. Netflix stock slips after a 'solid' report Netflix (NFLX) shares are faltering in premarket trading, despite "solid" second quarter earnings. The streamer delivered beats on both profit and sales, and upped its full-year revenue guidance in its report late Thursday. Some on Wall Street had flagged Netflix's lofty valuation going into the print, Yahoo Finance's Allie Canal reports. Bloomberg Intelligence senior media analyst Geetha Ranganathan told Yahoo Finance that the stock was priced to perfection heading into the report. "It was a really solid print," Ranganathan said in reaction to the earnings. "The big thing that investors were really focused on was commentary for the rest of the year, and they delivered there as well." Ranganathan also noted that while the operating margin was also solid, it was "maybe not spectacular." "I think investors were looking for something a little but more here," she said. "So it was originally forecast at 29% for the full year operating margin — they just took that up a smidge to 29.5%. I think investors were looking somewhere in the range of 30%-31%." Read more on Netflix's earnings here. Meta continues Apple-targeted AI hiring spree After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. Trending tickers in after-hours trading Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad. Stocks tick higher after hitting fresh records Stocks were in the green at the opening bell after hitting fresh records in the previous session amid investor enthusiasm over stronger-than-expected economic data. The S&P 500 (^GSPC) rose 0.2% while the Dow Jones Industrial Average (^DJI) added 0.1%, and Nasdaq Composite (^IXIC) was up 0.3% in early trading. The S&P and Nasdaq rose to fresh records on Thursday. Second quarter earnings continued to roll in with morning reports from 3M (MMM), American Express (AXP), and Charles Schwab (SCHW). Stocks were in the green at the opening bell after hitting fresh records in the previous session amid investor enthusiasm over stronger-than-expected economic data. The S&P 500 (^GSPC) rose 0.2% while the Dow Jones Industrial Average (^DJI) added 0.1%, and Nasdaq Composite (^IXIC) was up 0.3% in early trading. The S&P and Nasdaq rose to fresh records on Thursday. Second quarter earnings continued to roll in with morning reports from 3M (MMM), American Express (AXP), and Charles Schwab (SCHW). Waller makes strongest call yet for rate cut in July, underscoring Fed divide Yahoo Finance's Jennifer Schonberger reports: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. Market volatility provides Charles Schwab a tailwind in Q2 Charles Schwab (SCHW) stock rose 3% ahead of the opening bell as the company's adjusted profits surged more than 50% year over year. Market volatility surrounding President Trump's tariffs fueled higher trading activity for the brokerage. The company reported adjusted earnings per share of $1.14, beating Wall Street estimates for EPS of $1.10. Revenue came in at $5.9 billion, above expectations for $5.7 billion. Charles Schwab also brought in new assets of $80.3 billion, representing 31% growth annually. 'Schwab delivered growth on all fronts during the second quarter,' Charles Schwab CEO Rick Wurster said. 'The firm's diversified revenue model, coupled with our best-in-class scale and efficiency, produced quarterly records for both revenue and earnings per share.' Listen to the earnings call live at 9:30 a.m. ET here. Charles Schwab (SCHW) stock rose 3% ahead of the opening bell as the company's adjusted profits surged more than 50% year over year. Market volatility surrounding President Trump's tariffs fueled higher trading activity for the brokerage. The company reported adjusted earnings per share of $1.14, beating Wall Street estimates for EPS of $1.10. Revenue came in at $5.9 billion, above expectations for $5.7 billion. Charles Schwab also brought in new assets of $80.3 billion, representing 31% growth annually. 'Schwab delivered growth on all fronts during the second quarter,' Charles Schwab CEO Rick Wurster said. 'The firm's diversified revenue model, coupled with our best-in-class scale and efficiency, produced quarterly records for both revenue and earnings per share.' Listen to the earnings call live at 9:30 a.m. ET here. 3M stock gains on earnings beat, smaller tariff hit forecast 3M (MMM) stock rose over 2% in premarket trading on Friday after posting an earnings beat and raising its full-year profit forecast. The Scotch tape maker reported second quarter adjusted earnings per share of $2.16 on revenue of $6.16 billion, both above estimates. It now sees full-year adjusted profits between $7.75 and $8 per share, compared with its previous estimate of $7.60 to $7.90. 3M also projected tariffs would create a smaller hit to earnings this year than previously expected. Its forecast includes a $0.10 per share hit to 2025 earnings, versus the $0.20 to $0.40 impact it guided for previously. Other companies have also scaled back their projected losses from tariffs. Earlier this week, Johnson & Johnson (JNJ) halved its expected tariff impact to $200 million. Read more here from Reuters. 3M (MMM) stock rose over 2% in premarket trading on Friday after posting an earnings beat and raising its full-year profit forecast. The Scotch tape maker reported second quarter adjusted earnings per share of $2.16 on revenue of $6.16 billion, both above estimates. It now sees full-year adjusted profits between $7.75 and $8 per share, compared with its previous estimate of $7.60 to $7.90. 3M also projected tariffs would create a smaller hit to earnings this year than previously expected. Its forecast includes a $0.10 per share hit to 2025 earnings, versus the $0.20 to $0.40 impact it guided for previously. Other companies have also scaled back their projected losses from tariffs. Earlier this week, Johnson & Johnson (JNJ) halved its expected tariff impact to $200 million. Read more here from Reuters. Chevron to proceed with Hess deal after winning legal battle against Exxon Chevron (CVX) and Hess (HES) have won an arbitration battle against Exxon (XOM) over access to an oil project off the coast of Guyana. Chevron stock rose 3% premarket, while shares of Hess climbed 7%. Exxon's stock declined less than 1%. The result clears the way for Chevron to proceed with its $53 billion acquisition of the smaller oil firm, whose value was partially tied up in its 30% stake in the Guyanese oil project shared with Exxon. Chevron had said it could delay or terminate the acquisition altogether if it didn't win the arbitration. But in the end, it prevailed. "We disagree with the International Chamber of Commerce (ICC) panel's interpretation but respect the arbitration and dispute resolution process," Exxon said in a statement. Read more here. Chevron (CVX) and Hess (HES) have won an arbitration battle against Exxon (XOM) over access to an oil project off the coast of Guyana. Chevron stock rose 3% premarket, while shares of Hess climbed 7%. Exxon's stock declined less than 1%. The result clears the way for Chevron to proceed with its $53 billion acquisition of the smaller oil firm, whose value was partially tied up in its 30% stake in the Guyanese oil project shared with Exxon. Chevron had said it could delay or terminate the acquisition altogether if it didn't win the arbitration. But in the end, it prevailed. "We disagree with the International Chamber of Commerce (ICC) panel's interpretation but respect the arbitration and dispute resolution process," Exxon said in a statement. Read more here. UK stocks seem to be reversing years of underperformance Overseas investors are starting to warm up to the UK's unloved stocks as a UK-US trade deal, lighter regulation, and cheap stocks deliver juicy returns versus the rest of Europe. The FTSE 100 (^FTSE) has gained nearly 10% this year to hit record highs this week, beating the STOXX 600 (^STOXX), which is up 7.5%. Reuters reports: Read more here. Overseas investors are starting to warm up to the UK's unloved stocks as a UK-US trade deal, lighter regulation, and cheap stocks deliver juicy returns versus the rest of Europe. The FTSE 100 (^FTSE) has gained nearly 10% this year to hit record highs this week, beating the STOXX 600 (^STOXX), which is up 7.5%. Reuters reports: Read more here. Battery materials stocks jump after US lays out 93.5% graphite duty Bloomberg reports: Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China. Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. ( climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG) The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry. Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year. Read more here. Bloomberg reports: Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China. Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. ( climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG) The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry. Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year. Read more here. Netflix stock slips after a 'solid' report Netflix (NFLX) shares are faltering in premarket trading, despite "solid" second quarter earnings. The streamer delivered beats on both profit and sales, and upped its full-year revenue guidance in its report late Thursday. Some on Wall Street had flagged Netflix's lofty valuation going into the print, Yahoo Finance's Allie Canal reports. Bloomberg Intelligence senior media analyst Geetha Ranganathan told Yahoo Finance that the stock was priced to perfection heading into the report. "It was a really solid print," Ranganathan said in reaction to the earnings. "The big thing that investors were really focused on was commentary for the rest of the year, and they delivered there as well." Ranganathan also noted that while the operating margin was also solid, it was "maybe not spectacular." "I think investors were looking for something a little but more here," she said. "So it was originally forecast at 29% for the full year operating margin — they just took that up a smidge to 29.5%. I think investors were looking somewhere in the range of 30%-31%." Read more on Netflix's earnings here. Netflix (NFLX) shares are faltering in premarket trading, despite "solid" second quarter earnings. The streamer delivered beats on both profit and sales, and upped its full-year revenue guidance in its report late Thursday. Some on Wall Street had flagged Netflix's lofty valuation going into the print, Yahoo Finance's Allie Canal reports. Bloomberg Intelligence senior media analyst Geetha Ranganathan told Yahoo Finance that the stock was priced to perfection heading into the report. "It was a really solid print," Ranganathan said in reaction to the earnings. "The big thing that investors were really focused on was commentary for the rest of the year, and they delivered there as well." Ranganathan also noted that while the operating margin was also solid, it was "maybe not spectacular." "I think investors were looking for something a little but more here," she said. "So it was originally forecast at 29% for the full year operating margin — they just took that up a smidge to 29.5%. I think investors were looking somewhere in the range of 30%-31%." Read more on Netflix's earnings here. Meta continues Apple-targeted AI hiring spree After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. Trending tickers in after-hours trading Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad. Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad.
Yahoo
13 minutes ago
- Yahoo
Oracle's AI-driven surge: Can its stock rally last?
Oracle (ORCL), a legacy tech player once lagging behind in the AI arms race, is now sprinting out front. The stock is up more than 45% this year — handily outperforming AI darlings Nvidia (NVDA) and Meta (META) — thanks to massive cloud deals and surging AI demand. With Wall Street watching closely, the question now is whether Oracle can turn its growth story into lasting earnings power. "Oracle has been growing [revenue] by mid-single digits, and now it could be growing 15% to 20% [annually] for the next few years," Gil Luria, managing director at D.A. Davidson, told Yahoo Finance. "That's why the stock has done so well." The company recently inked a wave of cloud infrastructure deals, including one contract involving the rental of high-powered graphics chips (GPUs), which are essential for training and running AI models. One such agreement could add as much as $30 billion to Oracle's revenue by 2028. Its Cloud Infrastructure (OCI) division has positioned itself as a lower-cost, high-performance alternative to Amazon (AMZN) AWS, Microsoft (MSFT) Azure, and Google (GOOG, GOOGL) Cloud. The hyperscaler is also part of the Stargate project, a $500 billion initiative launched earlier this year alongside SoftBank Group (SFTBY), OpenAI ( and Metagenomi (MGX) to advance US AI development. Elsewhere, Oracle has committed $3 billion to expand AI infrastructure in Europe. Oracle has garnered analyst upgrades, including from Scotiabank (BNS), which recently initiated coverage with a $300 price target, citing its strong position in AI infrastructure. Its analysts described the 48-year-old company as "transitioning into a new paradigm." But not all firms see Oracle spreading its wings — D.A. Davidson maintains a Neutral rating and a $220 target, and Mizuho forecast a pullback to around $180. "The current price already reflects the upside, unless a significant acceleration in earnings growth can be achieved," Luria said. "The stock is starting to look pretty expensive." The fast-growing cloud business is capital-intensive and operates on thinner margins. On the other hand, Oracle's traditional software, hardware, and maintenance contracts business is in decline. But the segment makes up 60% of the company's business and has around a 50% margin, per Luria. "The key is not just revenue growth, it's whether Oracle can convert that into profitable earnings," Luria said. "That's what will determine if the stock can keep climbing." In its latest quarter, Oracle reported $15.9 billion in revenue, up 11% year over year, and earnings per share of $1.70, up from $1.67 a year earlier. Cloud infrastructure sales jumped 52% year over year. Analysts have raised their earnings estimates for Oracle, reflecting optimism about its AI and cloud growth. The consensus EPS forecast for fiscal 2025 is $6.72, an 11% increase year over year, and $7.66 for fiscal 2026. While some on Wall Street worry that Oracle's AI push may not translate to meaningful earnings, others say its cloud infrastructure platform is the future. "Oracle's AI story isn't just about software or language models, it's about OCI, their cloud infrastructure platform that competes directly with Microsoft Azure and Amazon's Web Services," Paul Meeks, chief investment officer at Water Tower Research, said on Yahoo Finance's Market Catalysts. Separately, Oracle co-founder and chief technology officer Larry Ellison is now the world's second-richest person, surpassing Meta CEO Mark Zuckerberg. His net worth is $251 billion, up nearly $60 billion in 2025, according to Bloomberg's Billionaire Index. Francisco Velasquez is a Reporter at Yahoo Finance. He can be reached on LinkedIn and X, or via email at Sign in to access your portfolio
Yahoo
13 minutes ago
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Perficient Appoints Rajesh Mehta as CFO; Paul Martin To Retire
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