News
Micron's blowout Q3 print lit up the storage supply chain on June 25 — SanDisk surged ~18%, Applied Materials climbed 13.4%, and Western Digital added 4.9%. By June 26 pre-market, traders were cashing in: Micron pulled back ~4% on profit-taking.
News
June's preliminary came in at 48.9 — up ~9% MoM and above the ~46.1 consensus — as falling gas prices gave consumers a lift. The final drops today; watch whether the rebound holds and where inflation expectations land.
News
Apple raised MacBook and iPad prices by up to 25%; Microsoft is hiking Xbox prices $100–$150 globally starting August 1. Both blamed AI-driven memory costs they can no longer absorb internally — and Apple's 6.12% single-day drop made clear the market is not pleased.
Precious Metals 3
Spot gold broke $4,000 on June 24, dropping to $3,959 intraday — nearly 29% off January's $5,594 all-time high. The three forces behind the selloff are all cyclical; the structural central bank bid — 17 consecutive months, ~850 tonnes per year — hasn't moved.
News
Merck KGaA announced a $11.3 billion all-cash bid for Bio-Techne (TECH) at $73 per share — a 36% premium to the one-month VWAP and the German group's biggest deal since Sigma-Aldrich. TECH shares surged 19% intraday.
Deep Dive
Bears spent a week spinning ghost stories about AI memory demand collapsing — then Micron dropped a $41.5B quarter that beat estimates by 22% and made the skeptics go quiet. One earnings report, one verdict.
News
Darden's Q4 FY2026 results were a mixed bag: adjusted EPS of $3.66 topped the $3.63 consensus and LongHorn Steakhouse surged 9.5%, but Olive Garden's 2.4% comp missed and FY2027 EPS guidance of $11.10–$11.35 landed at the low end of the Street—sending shares down more than 3% premarket.
News
Sunrun surged ~19% premarket on June 24 while KB Home gained ~3% on a Q2 revenue beat. On the downside, Cerebras dropped ~11% on its first post-IPO earnings — guiding for gross margin contraction — and Hertz cratered ~22% as tech led the market lower.
News
Wendy's (WEN) popped as much as ~22% in premarket trading on June 24. The jump came on news of a new CFO — former Potbelly exec Steven Cirulis — combined with retail short-squeeze momentum against the heavily shorted stock. Premarket moves don't guarantee regular-session performance.
News
The Magnificent Seven, Broadcom, and Oracle shed ~$2.7 trillion in combined market cap during June. Investors are reassessing the return on big tech's massive AI infrastructure bets — and the selloff reflects it.
News
Thursday packs in May PCE, the Q1 GDP final revision, May durable goods orders, and Darden (DRI) Q4 earnings — a full slate as markets reprice Fed rate hike odds. Wells Fargo expects headline PCE at +0.5% MoM and +4.1% YoY, with core PCE at +0.3%.
News
Precious metals posted their steepest single-day loss since June 10 on Wednesday: spot silver fell ~5.4% to ~$61.6/oz and gold dropped ~1.7% to ~$4,040/oz, as markets priced in three Fed rate hikes before year-end and the dollar hit a one-year high.