Sandisk (NASDAQ:SNDK) shares fell in premarket trading on Thursday after the flash memory manufacturer issued first-quarter guidance that failed to meet investors' elevated expectations, despite another quarter of exceptional growth fuelled by artificial intelligence demand.
AppLovin's revenue fell short of expectations and the company gave a cautious outlook, causing shares to drop despite an earnings beat. This suggests investors are focusing on growth prospects rather than short-term profitability.
The Cyberspace Administration of China announced a cybersecurity review of products sold by Palo Alto Networks in China, citing national security and critical information infrastructure protection. The review is based on China's National Security Law, Cybersecurity Law, and the Cybersecurity Review Measures.
According to Saudi outlet Alhadath, senior sources say Iran and Oman have reached a preliminary consensus on reopening the Hormuz Sea, with an agreement possibly announced within days. The deal, still requiring approval from Iran's Supreme National Security Council, would last 60 days and aims to restore navigation. This development is significant for regional shipping stability.
Nvidia has partnered exclusively with SpaceX for its Starmind satellite AI program, selecting Nvidia's Vera Rubin rackscale system as the dedicated AI platform. This positions Nvidia's hardware as a reference point for aerospace-focused AI compute. Separately, Nvidia-backed Volta Infra secured a $10 Billion multi-year AI cloud deal with Anthropic to build data centers in Europe.
SanDisk (SNDK.O) dropped over 8% in premarket trading after issuing weak guidance. Western Digital (WDC.O) fell 12% and SK Hynix (SKHY.O) fell 6% as the memory sector slumped. The declines reflect concerns about memory demand and the company's outlook.
SoftBank reported fiscal first-quarter profit that beat market expectations. The company received an $8.2 billion boost from Intel, while OpenAI's role was deprioritized. This reflects a strategic shift in SoftBank's investment focus.
Saudi Aramco lowered its Arab Light crude price for Asian customers next month as talks progress on a deal to ease shipping pressure in the Strait of Hormuz. The cut came despite Houthi threats to alternative Red Sea routes, and diverged from trader expectations of no change. Brent crude fell sharply this week.
SoftBank reported fiscal first-quarter profit that beat market expectations, boosted by an $8.2 billion investment gain from its stake in Intel. The gain highlights the value of SoftBank's investment portfolio. The better-than-expected earnings could bolster investor confidence in SoftBank's strategy.
SoftBank reported a fiscal first-quarter profit that beat market expectations. The results were boosted by gains from its stakes in Intel and TikTok-owner ByteDance. This underscores the value of SoftBank's investment portfolio.
Court documents show that OpenAI has asked a U.S. judge to dismiss Apple's lawsuit accusing it of trade secret infringement. The case centers on allegations that OpenAI misappropriated Apple's confidential information. This legal move could shape the outcome of the dispute between the two tech giants.
Asian tech stocks fell, with SK Hynix plunging 10% following declines in Wall Street AI names. Despite heightened volatility, analysts remain optimistic on the tech sector, with J.P. Morgan saying the tech sell-off had not derailed the AI investment cycle.
SanDisk reported record Q4 2026 results, with data center revenue surging sequentially amid strong AI demand. The company also highlighted financial guarantees from New Business Models as a key support. This underscores its growing exposure to AI infrastructure spending.
NVIDIA is accelerating its push into the telecom operator market by seeking Chinese base station partners to develop AI-RAN base stations that combine communication and AI computing. The company aims to enter trial networks within the next two years, with Shenzhen Jiaxian Communication already collaborating for over six months on CUDA-based development. The cooperation has entered technical R&D, and a joint commercial entity for overseas expansion is possible.
A COSCO VLCC, the Yuanxihu, has arrived off Egypt's Sidi Kerir terminal to wait for loading after transiting the Suez Canal in ballast. Chinese VLCCs have resumed loading Saudi crude after a week-long pause but are now sailing around Africa instead of through the Red Sea. The rerouting shows shippers avoiding risks from the Houthi-declared naval blockade against Saudi Arabia.
President Trump said at a Las Vegas event that oil prices have recently fallen and stabilized, yet "maybe we'll have to let it go up again," though he hopes that won't be necessary. He gave no further explanation. AP notes that despite his assurances of an imminent end to conflict with Iran, oil tends to rise when tensions flare.
According to the Washington Post, Trump confronted Defense Secretary Hegseth at Camp David last week over being misled about critical ammunition shortages that threaten to limit military options against Iran. Hegseth blamed deputy Stephen Feinberg for failing to keep Trump informed. The shortages, especially of long-range guided missiles and air defense interceptors, contributed to Trump canceling new large-scale strikes on Iran, with ATACMS stockpiles nearly depleted.
Fed's 54.4% chance of 25 basis point hike in month 9 · According to CME's FedWatch, the market assigns a 54.4% probability to a 25 basis point rate hike in September, indicating a slight majority expectation for a hike. This reflects current market pricing of Fed policy.
SanDisk (SNDK.O) reported strong quarterly results with revenue and profit beating estimates, but its next-quarter revenue outlook missed expectations. Management cited a shift to high-value customers and strong data-center growth. The stock fell 8% in after-hours trading.
Iran's deputy foreign minister said Tehran and Oman are close to finalizing an agreement on commercial shipping through the Strait of Hormuz. Under the plan, the existing northern and southern lanes on the Iranian and Omani sides would close, replaced by a new transit model different from the past six decades. The temporary route is expected to be usable for two to four months; Iran denied talks with the US but said Washington indicated readiness to resume commitments under a previous memorandum of understanding.
Fed Governor Lisa Cook reiterated that she is prepared to support rate hikes if inflation does not slow, warning that policymakers may not have room to wait for inflation to return to target. While she backed the Fed's decision to hold rates steady in July, she said the longer inflation stays above target, the greater the risk of it becoming entrenched. Cook added that easing tariff effects, possible lower oil prices, and reduced AI-related pressures could provide a buffer that makes tightening unnecessary.
SanDisk issued guidance for fiscal 2027 first quarter, expecting revenue of 103 to 108 hundred million USD, compared to the market consensus of 108 hundred million USD. The guidance reflects the company's outlook on memory chip supply, demand, and pricing, which may influence investor expectations for its near-term performance.
According to foreign media citing an Iranian source and two regional officials, a proposed Iran-Oman agreement would give Iran control over ships entering the Gulf through the Strait of Hormuz. Iran seeks a fee of 5% to 7% of cargo value, while Oman discusses a lower rate and Washington wants no fee. Payments could nominally be voluntary, but shippers may have to pay under the threat of Iranian attacks.
Yemen's Houthi group said it fired a missile at a Saudi tanker in the Gulf of Aden, claiming the strike hit and forced the vessel to turn back. The group described it as part of its maritime shipping ban against Saudi Arabia and said Saudi tankers would not be allowed through Red Sea north-south routes until the blockade is lifted. Saudi Arabia has not yet confirmed the incidents.
Iran said it will not reopen the Strait of Hormuz to shipping until the US ends its maritime blockade of Iranian ports, even if an agreement with Oman is finalized. Tehran and Oman have agreed on shipping routes and are finalizing joint management arrangements, but Iranian officials say reopening depends on US commitments. Iran blamed US blockade and other hostile actions for continued insecurity in the strait.
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