🫐 BlackBerry? More Like BackBerry

Good evening. Trump said the Israel-Iran conflict is basically on pause for now, and Fed Chair Jerome Powell made it clear the Federal Reserve is still figuring out how Trump’s tariffs might affect inflation before deciding whether to cut interest rates.

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Market data: today’s market close

WINNERS

⬆︎30.48% QuantumScape

Bringing solid-state batteries to the real world. The next-gen battery developer said it’s now using its new Cobra separator process in regular cell production. Compared to its old method, Cobra is about 25 times faster at heat treatment and takes up less space, meaning batteries can be made more quickly and efficiently. [Read more]

⬆︎25.14% Bumble

The dating app company plans to cut around 240 jobs (about 30% of its global workforce) as it looks to streamline operations and double down on product innovation. The move is expected to save up to $40 million a year, most of which will be reinvested in growth. Founder Whitney Wolfe Herd, who recently returned as CEO, called it a return to a “start-up mentality.” The company also raised its revenue and profit forecasts for the current quarter. [Read more]

⬆︎21.55% AeroVironment

🛎️ Earnings report - Demand for military drones is taking off. Big jumps in both profit and sales for the drone maker, as its drones see growing use in conflicts like Ukraine. AeroVironment also recently acquired BlueHalo for $4 billion. And with that acquisition in the bag, it expects to nearly double revenue this year to as much as $2 billion. [Read more]

⬆︎12.59% BlackBerry

🛎️ Earnings report - No, BlackBerry is not dead. It’s now a security software firm seeing new life thanks to its QNX platform, which powers infotainment systems in cars. QNX sales rose over 4% and BlackBerry slightly raised it’s full-year revenue outlook. Management says the company is off to a strong start for the year as it leans further into the auto and security tech space. [Read more]

⬆︎4.33% Nvidia

Loop Capital raised its price target from $175 to $250. The firm expects spending on AI and hyperscale tech to hit $2 trillion by 2028, and believes Nvidia’s dominance in critical chip technology could eventually push its market value to $6 trillion. Leading the ‘Golden Wave,’ as they call it. [Read more]

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Market data: today’s market close

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LOSERS

⬇︎3.27% FedEx

🛎️ Earnings report - FedEx delivers, but dodges questions. The shipping giant posted solid earnings for the quarter but chose not to issue full-year guidance, a rare move it hasn’t made in over a decade. Execs pointed to trade policy uncertainty under Trump as a key reason for holding back. The company is also bracing for a $170 million hit from weaker international exports. [Read more]

⬇︎4.79% Novo Nordisk

¿Es esto legal, Novo? Spanish authorities are investigating the Danish drugmaker over an obesity awareness campaign that may have crossed the line into illegal prescription drug promotion. The campaign (now taken offline) is suspected of being indirect advertising, which is strictly banned in Spain. [Read more]

⬇︎7.18% QXO

Dilution disguised as strategy? QXO, a fast-growing building materials distributor, just priced a $2 billion stock sale at $22.25 a share, a small discount from its last trading price. The company said it might raise another $300 million if underwriters buy extra shares. The money will go toward general expenses and, more importantly, future acquisitions. [Read more]

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Market data: today’s market close

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THE END

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