Broadcom Shares Slide 12% as AI Chip Guidance Disappoints
The numbers were good. The market reacted as if they were not. Broadcom reported results for its fiscal second quarter on Wednesday and raised its dividend, but the guidance for…
Marvell Joins the S&P 500 as Custom AI Chips Reshape the Index
The index fund managers who bought Marvell Technology shares ahead of Monday’s open were following a script written decades ago, but the company they were buying looks like nothing the…
Peace Deal With Iran Sets Off Rally in Asian Chip Stocks
The opening bell on the Tokyo Stock Exchange had barely rung when the buying started. SoftBank Group shares surged more than 10% in early trading on June 20, pushing the…
Adobe’s CFO Exit Overshadows a Beat-and-Raise Quarter
The earnings release contained two stories. The one investors traded was buried near the bottom, three sentences long: Adobe’s chief financial officer, Dan Durn, was leaving in four days. Shares…
Marvell to Join S&P 500 After AI-Driven Rally
S&P Global said Marvell Technology will join the S&P 500 index on June 22, replacing Pool Corp and Campbell’s, and the announcement turned a stock that had already been one…
Marvell and Flex Join the S&P 500, Adding AI Supply Chain Weight
The announcement came in a press release on Friday morning, folded into the routine quarterly mechanics of index management. S&P Dow Jones Indices will add Marvell Technology and Flex to…