Qualcomm Inc. (QCOM) shares declined after the chipmaker issued a fourth-quarter earnings forecast that fell short of analyst expectations, signaling that weakness in its core handset business continues to weigh on its outlook.
The social media company narrowed its annual capital spending forecast to a range of $130 billion to $145 billion, signaling a more aggressive investment in data centers for artificial intelligence.
Microsoft reported 43% revenue growth in its Azure cloud division for its fiscal fourth quarter, beating analyst expectations and suggesting its significant investments in AI infrastructure are beginning to yield returns.
The chip designer surpassed analyst estimates for first-quarter earnings and revenue and issued an upbeat forecast, but its stock declined in after-hours trading following a steep drop in the regular session.
Starbucks reported a 7.9% rise in global same-store sales for its third quarter, significantly outpacing analyst forecasts of 5.67% and signaling its turnaround efforts are gaining traction.
The U.S. Space Force has awarded SpaceX a $1.6 billion order for 18 Falcon 9 missions to launch national security satellites through 2027, underscoring the company's growing role in military space operations.
Robinhood Markets reported a significant increase in second-quarter profit, driven by heightened trading volumes amid market volatility. The online brokerage's net income rose to $573 million, up from $386 million a year earlier.
Chipotle Mexican Grill has increased its full-year sales forecast, now expecting low single-digit growth in comparable sales, citing success from new menu items and value-oriented promotions.
Canada's benchmark stock index declined on Wednesday, dragged lower by significant losses in the financial, healthcare, and clean technology sectors as market volatility increased.
