S&P 500, Nasdaq, Dow futures inch up ahead of Mag 7 earnings, last Powell term meeting

🧠 Data-storage stocks jump as Seagate's upbeat forecast fuels confidence in AI spending

Shares of data-storage companies jumped in premarket trading on Wednesday, a day after strong revenue and profit forecasts from Seagate Technology (STX.O), signaled that spending by enterprises on artificial intelligence equipment will remain strong.

Seagate's strong forecast and the surge in storage stocks underscore investor confidence that enterprise AI spending will sustain demand for data-storage equipment despite broader market concerns about the pace of AI adoption.

Companies have funneled increasing amounts of money into data drives, hard disks and other digital storage as they rushed to upgrade their artificial intelligence models and infrastructure. Reuters reports.


💻 NXP Semiconductor shares are rallying in pre-market: Here’s why

NXP Semiconductors NV shares are trading higher after the company reported first-quarter financial results Tuesday after market close.

NXP reported first-quarter revenue of $3.18 billion, up 12% year-over-year.

The revenue total beat a Street consensus estimate of $3.16 billion, according to data from Benzinga Pro.

The company reported quarterly earnings per share of $3.05, beating a Street consensus estimate of $2.95.

For quarterly revenue, Automotive was the biggest segment at $1.78 billion, followed by Industrial & IoT at $628 million and Mobile at $391 million.

These three segments were up 6%, 24% and 16% respectively on a year-over-year basis. Benzinga reports.


🧾 Silicon Motion announces results for the quarterly period ended March 31, 2026

Silicon Motion Technology Corporation today announced its financial results for the quarter ended March 31, 2026.

For the first quarter of 2026, net sales (GAAP) increased sequentially to $342.1 million from $278.5 million in the fourth quarter of 2025.

Net income (GAAP) also increased sequentially to $66.8 million, or $1.97 per diluted American depositary share, from net income of $47.7 million, or $1.41 per diluted ADS, in the fourth quarter of 2025.

For the first quarter of 2026, net income (non-GAAP) increased sequentially to $53.8 million, or $1.58 per diluted ADS, from net income of $42.7 million, or $1.26 per diluted ADS, in the fourth quarter of 2025. Globe Newswire reports.


📦 Amazon Q1 earnings put the spotlight on AI spending and revenue

Amazon will report its first quarter earnings alongside rivals Google, Meta, and Microsoft on Wednesday, with investors looking for more signs that the company’s massive artificial intelligence spending is paying off.

All totaled, the AI hyperscalers are expected to spend a whopping $650 billion in capital expenditures in 2026, and Amazon will account for $200 billion of that.

Despite that, Wall Street has been largely positive on Amazon, with the stock of the cloud and e-commerce giant up 13% year to date.

That’s better than Google’s 12% increase, and well ahead of Microsoft, which is down 12%. Yahoo Finance reports.


🚪 Taiwan's TSMC exits Arm with $231 million share sale

Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker, has sold its remaining stake in Arm Holdings, according to a company filing on Wednesday.

Its subsidiary, TSMC Partners, sold 1.11 million Arm shares from April 28 to 29 at $207.65 each, for a total of about $231 million, the filing showed.

The disposal resulted in an impact on retained earnings of $174 million. Yahoo Finance reports.


🔌 Bloom Energy stock jumps as AI power demand drives Q1 beat and 2026 guidance raise

Bloom Energy lifted its full-year 2026 outlook on Tuesday after reporting that first-quarter revenue more than doubled and the fuel-cell maker flipped to a profit.

Quarterly revenue hit $751.1 million for the period ended March 31, up 130.4% year-over-year, while net profit attributable to common shareholders landed at $70.7 million, erasing a $23.8 million loss from a year ago.

The results are another signal that AI data center demand is translating into real sales. TechStock² reports.

“It never was my thinking that made the big money for me. It always was my sitting.”

– Jesse Livermore

Sourced in: Reminiscences of a Stock Operator — GoodReads.

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