Fb-parent Meta (META) rose greater than 3% on Tuesday to shut at a contemporary excessive of $790 per share as the corporate doubles down on synthetic intelligence (AI) efforts.
Meta shares jumped following the discharge of its second quarter outcomes on the finish of July, as the corporate beat expectations.
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Within the outcomes, the corporate mentioned it now anticipated capital expenditures for 2025 to be between $66bn (£48.7bn) to $72bn, elevating the lowered finish of its beforehand guided vary of $64bn to $72bn. Meta mentioned it anticipated one other yr of equally vital capex greenback progress in 2026, because it continues “aggressively pursuing opportunities to bring additional capacity online to meet the needs of our artificial intelligence efforts and business operations.”
As well as, head of Instagram Adam Mosseri mentioned on Tuesday that its Threads platform had not too long ago reached greater than 400 million month-to-month energetic customers.
Shares in AI knowledge centre operator CoreWeave (CRWV) slid greater than 10% in pre-market buying and selling on Wednesday, after the Nvidia-backed (NVDA) firm posted a bigger-than-expected loss within the second quarter.
CoreWeave posted a internet lack of $290.5m for the second quarter, which was greater than the typical estimate $190.6m anticipated by analysts, in line with LSEG-compiled knowledge reported by Reuters.
As well as, working bills of $1.19bn additionally jumped from $395.3m a yr in the past.
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Second quarter income got here in at $1.21bn, topping estimates of $1.08bn.
Michael Intrator, CEO of CoreWeave, mentioned: “We are scaling rapidly as we look to meet the unprecedented demand for AI. Our purpose-built AI cloud platform continues to set new benchmarks for performance and scalability including becoming the first company to offer the complete Blackwell GPU portfolio at scale, making CoreWeave the platform of choice for the world’s most advanced AI workloads and AI pioneers.”
Shares in Cava (CAVA) dropped almost 23% in pre-market buying and selling on Wednesday, after the restaurant chain issued its first annual gross sales progress goal minimize since itemizing in New York two years in the past.
In its second quarter outcomes, launched on Tuesday, Cava mentioned it now anticipated to ship identical restaurant gross sales progress of 4% to six% in 2025, in comparison with a beforehand guided vary of 6% to eight%.
Nevertheless, the corporate maintained it steerage for adjusted earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) of $152m to $159m.
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For the second quarter, Cava delivered income of $278.2m, which was up 20.3% on the identical interval final yr. Adjusted EBITDA rose to $42.1m, up from $34.3m for the prior yr quarter.
Brett Schulman, CEO of Cava, mentioned: “We recently opened our 400th restaurant, marking a meaningful milestone on our path to 1,000 restaurants by 2032, reinforcing the proven portability and underlying strength fuelling our continued growth.”
Vacation group TUI (TUI1.DE) reported better-than-expected third quarter outcomes on Wednesday.
Group income for the third quarter got here in at €6.2bn (£5.35bn), which was up 7% from a yr in the past. Underlying EBIT of €321m was up 38% in comparison with the earlier yr.
On Tuesday, TUI introduced that it was elevating its 2025 EBIT progress steerage to a spread of 9% to 11%, versus earlier expectations of seven% to 10%.
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Shares popped after the corporate lifted its steerage on Tuesday however hovered just under the flatline on Wednesday morning.
Victoria Scholar, head of funding at Interactive Investor, mentioned: “It looks like the summer performance so far has held up much better than anticipated. Last quarter Tui warned about a potential drop in summer bookings amid the macro uncertainty and European heatwaves. However this week, that sense of nervousness has reversed course with a guidance uplift for the full-year and a top and bottom line beat.”
Housebuilder Persimmon (PSN.L) was the second greatest faller on the FTSE 100 (^FTSE) on Wednesday morning, with shares falling 3%, on the again of its half-year outcomes.
Revenue earlier than tax of £146.7m was little modified from the identical interval final yr, whereas underlying pre-tax revenue rose 11% £164.9m and group income elevated 14% to £1.5bn.
Russ Mould, funding director at AJ Bell (AJB.L), mentioned: “Results from Persimmon suggest the UK housebuilding sector is not a total lemon, and at their current low ebb, these stocks might pique the interest of contrarian, value investors.
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“Completions have been up at Persimmon, likewise common promoting costs, which have been 8% up on final yr. Not too unhealthy in what’s perceived to be a stagnant housing market. All of that has fed by means of into an 11% rise in underlying working pre-tax revenue.”
“However under the bonnet things don’t look quite so rosy, thanks to some rather chunky exceptional items which mean earnings per share is actually down by 10%,” he added. “Seven housebuilders have agreed to pay £100m into affordable housing programmes following a CMA investigation into price collusion, and Persimmon’s contribution adds up to a £15.2m hit to its income statement.”
Shares in Nordic Semiconductor (NOD.OL) surged almost 16% on Wednesday morning, hitting a two-year excessive after the corporate’s second quarter outcomes beat expectations.
The Norweigan chipmaker posted income of $164m for the quarter, up from $128m a yr in the past and forward of common forecasts of $158.9m, in line with LSEG knowledge reported by Reuters. Second quarter EBITDA of $21m additionally topped estimates of $15.8m.
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The corporate’s income steerage for the third quarter of $165m to $185m additionally got here in forward of market expectations.
In its quarterly report, the corporate mentioned: “The ongoing trade tensions are not considered to have had any major effect on revenue, neither positive nor negative, although the company recognises that this remains a risk factor going forward.
“Nordic navigates this surroundings by persevering with its efforts to strengthen provide chain resilience and sustaining shut buyer collaborations to assist buyer wants.”
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