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The Magnificent Seven are not ‘outrageously priced,’ leading hedge fund says

The Magnificent Seven tech giants would only have to generate relatively moderate increases in their earnings to justify their valuations, Man Group said.

The bank of Starbucks: Coffee retailer has $1.77 billion in unredeemed gift cards

The latest Starbucks results show the retailer may have trouble selling coffee, but it is good at selling customers the right to buy coffee in the future.

GE Healthcare’s stock spikes up at the open as profit beat outweighs sales miss

GE Healthcare’s stock dropped in early Wednesday trading, after the medical technologies and diagnostics company reported second-quarter revenue that missed expectations and free cash flow that turned more negative.

What stock, bond markets would find ‘surprising’ from Fed Chair Jerome Powell

Markets will be paying close attention Wednesday to how much confidence Federal Reserve Chair Jerome Powell signals the central bank has to potentially begin cutting interest rates as soon as September.

How Microsoft ‘saved the world’ — or at least tech stocks — with these comments

Microsoft indicated that its artificial-intelligence spending is paying off, and the company plans to boost it. That’s seen as good for software and chip companies.

EV-charging company Xchg sets price range in small-cap IPO

Chinese company plans to offer 3.15 million American depositary shares at $6 to $8 a share.

The search for a ‘caffeinated catalyst’ at Starbucks continues

The coffee chain wrestles with ongoing consumer weakness.

Norwegian Cruise’s stock surges after a profit beat as demand remains ‘robust’

Norwegian Cruise Line’s stock rallied Wednesday after the cruise company reported second-quarter profit that beat expectations and raised its full-year outlook, citing continued “robust” market demand.

Delta says CrowdStrike outage will cost it about $500 million: report

Delta Air Line Chief Executive Ed Bastian told CNBC-TV on Wednesday that he expects the cost of information technology outages caused by CrowdStrike’s computer software glitch to be about $500 million.

Altria’s profit climbs, but adjusted profit falls short of estimates

A Jefferies analyst reiterates a ‘buy’ rating and says the tobacco giant’s share of non-smoking products is growing.

Mastercard’s stock gains as spending growth holds steady into July

Mastercard’s spending growth to start the current quarter has been stable, and that seemed welcome news to investors on Wednesday.

Nvidia’s stock set to climb as Microsoft says the magic words

Microsoft discussed plans to grow capital spending in the new fiscal year and indicated that its AI spending delivers returns. That’s welcome news for chip investors.
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