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Marvell Tech Takes a Hit

What’s Happening?

Marvell Technology’s stock (MRVL) nosedived 8% on Wednesday. It’s the biggest drop on the Nasdaq, all because they hit pause on their investor day. This wasn’t just a random decision; they’re citing the “dynamic macroeconomic environment” for delaying ’til 2026.

CEO’s Take

Their CEO, Matt Murphy, calls the environment “uncertain.” But don’t stress—they’re still pushing forward in the AI silicon game. Murphy mentions they’ve been making headway and will spill the beans on it at their conference in Santa Clara next month. They’ve also planned a webinar about silicon tech’s bright AI future.

Financial Adjustments

Marvell, which has struggled throughout 2025 seeing shares plummet by half, is adjusting its fiscal 2026 first-quarter revenue prediction. They confirmed a $1.875 billion midpoint but adjusted their range tighter than before.

CrowdStrike’s Workforce Shuffle

Job Cuts Ahead

CrowdStrike Holdings (CRWD) faced its own stumble, with shares sliding. The cybersecurity firm is axing about 500 jobs, around 5% of their crew, as part of a focus to reach a $10 billion annual recurring revenue.

Financial Impacts

These layoffs are no cheap affair. Expect charges between $36 million and $53 million. Yet, they’re optimistic about Q1 results exceeding forecasts.

CEO Insights

George Kurtz, their CEO, sees AI shaping industries far and wide. By streamlining operations, AI assists them in innovating faster and more efficiently.

Tesla’s China Challenge

Sales Slump

Sales in China aren’t rosy for Tesla (TSLA). April’s 58,459 Model 3 and Model Y deliveries didn’t match last year’s numbers. This continues a seven-month slump in year-over-year shipments.

Global Struggles

Tesla’s troubles extend beyond China. Sales have dipped in Europe, despite an uptick in electric vehicle popularity. Political drama and backlash follow CEO Elon Musk, impacting stock gains since Trump’s election.

Fed Holds Steady

Interest Rates Unchanged

The Federal Reserve decided to stay the course, keeping the interest rate steady at 4.25% to 4.5%. They’re cautious, watching Trump’s policies and tariffs’ ripple effects on the economy.

Economic Balancing Act

With inflation and unemployment risks rising, the Fed’s in a bind. Lower rates could spur spending, but they also risk fueling inflation.

Betting on the Next Pope

Place Your Bets

Vatican is in pope-picking mode, and yes, you can bet on it. Polymarket and Kalshi let you wager on who the new leader might be. Pope Francis passed away last month, and the cardinals are in conclave.

Top Contenders

Folks are eyeing Cardinal Pietro Parolin and Luis Antonio Tagle as frontrunners according to the New York Times. Notably, betting places payout differently depending on your papal pick.

Alphabet’s AI Woes

Stock Plunge

Alphabet (GOOGL) saw its shares tank. All because Apple might toss new AI search options into Safari, possibly replacing Google’s search monopoly.

Competitive Jitters

With senior VP Eddy Cue attributing search dips to AI’s rise, Alphabet’s grappling with a market ripe for disruption.

Eyes on AMD

Stellar Earnings

Advanced Micro Devices (AMD) got a much-needed boost post-earnings. First-quarter results beat expectations, but analysts are wary of potential struggles from stricter China export rules.

Market Outlook

Stock rallied, though conflicting projections from Jefferies and Citi show mixed feelings about the impact on AI revenues.

Disney’s Financial Magic

Earnings and Expansion

The Walt Disney Company (DIS) shares soared after surprising quarterly earnings. News of a new park in the UAE sweetened the pot even more.

Future-Proof Strategy

Disney upped its fiscal outlook. CEO Bob Iger’s optimistic about upcoming projects and growth.

Final Look at Futures

Upbeat Open Expected

Futures tied to major indices like the Dow and Nasdaq are on the rise, hinting at a positive opening. Despite prevailing volatility, optimism is peeking through on Wall Street.