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Samsung reports record profit as South Korean chip giants benefit from global AI boom
Associated Press12d agoneutral
Samsung reports record profit as South Korean chip giants benefit from global AI boom

South Korean technology giant Samsung Electronics on Thursday reported a record operating profit of 89.5 trillion won ($62 billion) for the April-June period, a day after crosstown rival SK Hynix also reported record earnings, as the world’s two largest memory chipmakers continue to ride the global artificial intelligence boom. Despite their soaring profits, the companies’ shares have fallen sharply this week in South Korea’s volatile stock market, where retail investors often drive sharp swings in share prices, as concerns grow over their plans to spend massively on increasing manufacturing capacity and the prospects of intensifying competition from China. Samsung’s second-quarter operating profit was a more than 19-fold increase from a year earlier, and nearly all of it came from its semiconductor business, which benefited from rising chip prices driven by demand for AI servers and increased shipments of advanced high-bandwidth memory chips used to power AI applications.

Samsung’s Chip Earnings Push Net Profit to Record
The Wall Street Journal12d agobullish
Samsung’s Chip Earnings Push Net Profit to Record

Samsung Electronics’ net profit surged 14-fold in the second quarter, as a stellar performance by its core semiconductor division, helped the technology titan extend its streak of record earnings.

Major burger dining chain closes more locations
TheStreet12d agoneutral
Major burger dining chain closes more locations

The nation's No. 2 burger chain, Wendy's, is continuing its Project Fresh turnaround strategy, that it launched in 2025, which calls for the company to shutter underperforming locations. Wendy's in late July 2026 abruptly closed a restaurant at 4003 Wilmington Pike in Kettering, Ohio, with a sign ...

Costco customers may qualify for $14M settlement
TheStreet12d agoneutral
Costco customers may qualify for $14M settlement

Retailers frequently use phrases such as “last chance” and “five days only” to encourage shoppers to act before a promotion disappears. But a recent lawsuit against Costco alleges that some of those deadlines may not be as final as company emails suggest. Costco Wholesale has agreed to pay $14 ...

Vanguard fund adds millions to Peter Thiel-backed company
TheStreet12d agoneutral
Vanguard fund adds millions to Peter Thiel-backed company

Vanguard has increased its stake in Peter Thiel-backed Bitcoin treasury company Strive (Nasdaq: ASST), expanding its indirect exposure to Bitcoin through one of the fastest-growing corporate holders of the asset. The Vanguard Total Stock Market Index Fund (VTSAX) added 269,200 Strive shares, ...

Sony makes acquisition proposal for Japan camera lens maker Tamron
Reuters12d agobullish
Sony makes acquisition proposal for Japan camera lens maker Tamron

Sony Group has made ‌a proposal to ‌acquire Tamron Co, the Japanese ​camera lens maker said on Thursday, adding it has established a special ‌committee ⁠to review various options. Sony has made a ⁠non-binding proposal for a series of transactions ​to make ​Tamron ​a wholly ‌owned Sony subsidiary, the optical components manufacturer said in a statement. Tamron had a market capitalisation of $1.18 ‌billion at ​Wednesday's close.

Bloomberg12d agobullish
Samsung’s Chip Profit Soars Over 250-Fold on AI Memory Shortages

(Bloomberg) -- Samsung Electronics Co.’s semiconductor arm reported a more than 250-fold jump in profit after AI’s reliance on memory delivered hefty margins. Most Read from BloombergStocks Fall as 30-Year Bond Yields Surge After Fed: Markets WrapWarner Bros. Deal Collapse Would Cost the Ellisons $9.8 BillionTrump Says US Will Strike Iran Hard as War Escalates AgainUS Intercepts Iran Attack on Bases, Puncturing Days of CalmApple Set to Make Big Smart Home Push With Siri AI at CenterThe unit, whi

Starbucks Q3 Earnings Call Highlights
MarketBeat12d agoneutral
Starbucks Q3 Earnings Call Highlights

Starbucks (NASDAQ:SBUX) reported third-quarter fiscal 2026 results that management said reflected continued progress in its “Back to Starbucks” turnaround plan, including a fourth consecutive quarter of positive global comparable-sales growth and a second straight quarter of operating-margin expansi

Qualcomm Q3 Earnings Call Highlights
MarketBeat12d agoneutral
Qualcomm Q3 Earnings Call Highlights

Qualcomm (NASDAQ:QCOM) reported fiscal third-quarter revenue of $9.9 billion and non-GAAP earnings per share of $2.21, with revenue reaching the high end of the company’s guidance range. The company said record automotive sales and growth in Internet of Things products helped offset pressure in its

Microsoft Q4 Earnings Call Highlights
MarketBeat12d agoneutral
Microsoft Q4 Earnings Call Highlights

Microsoft (NASDAQ:MSFT) closed fiscal 2026 with record revenue and continued growth in cloud and artificial intelligence services, while outlining plans for further infrastructure investment and forecasting double-digit revenue and operating-income growth in fiscal 2027. For the fiscal fourth quart

Meta Platforms Q2 Earnings Call Highlights
MarketBeat12d agoneutral
Meta Platforms Q2 Earnings Call Highlights

Meta Platforms (NASDAQ:META) reported second-quarter 2026 revenue growth of 28% as the company said artificial intelligence initiatives improved content recommendations, advertising performance and product development, while it continued to accelerate spending on data centers and other AI infrastruc

Samsung Q2 profit jumps 19-fold as AI chip demand offsets mobile loss
Reuters12d agobullish
Samsung Q2 profit jumps 19-fold as AI chip demand offsets mobile loss

Samsung Electronics said on Thursday its operating ‌profit jumped 19-fold to a ‌record in the second quarter, as solid ​demand for AI chips offset weaker earnings at its mobile business. "In H2 2026, the Memory Business expects robust ‌demand centered ⁠on servers stemming from continued AI infrastructure capex and broader ⁠adoption of agentic AI," Samsung said in a statement. The world's top memory chipmaker reported operating profit of 89.5 trillion won ($61.98 billion) for the April-to-June period, in line ‌with its estimate ​of 89.4 trillion won ​and up ​from 4.68 trillion won ‌a year earlier.

Review & Preview: Warsh’s Credibility
Barrons.com12d agoneutral
Review & Preview: Warsh’s Credibility

Then Kevin Warsh started talking. The new Federal Reserve chairman did little to ease investor concerns about the central bank’s fight with inflation, so the S&P 500 closed down 1.5%. The Dow Jones Industrial Average sank 2.2% The Nasdaq Composite fell 1.7%.

Bloomberg12d agoneutral
Pentagon Awards Mega Contracts to Firms Amid Iran War Strains

(Bloomberg) -- The Pentagon is accelerating defense production with multiyear mega contracts as the Trump administration seeks to enhance the armed forces and the Iran war intensifies demands on a dwindling US weapons stockpile.Most Read from BloombergStocks Fall as 30-Year Bond Yields Surge After Fed: Markets WrapWarner Bros. Deal Collapse Would Cost the Ellisons $9.8 BillionTrump Says US Will Strike Iran Hard as War Escalates AgainUS Intercepts Iran Attack on Bases, Puncturing Days of CalmAppl

Bloomberg12d agoneutral
Fed’s Warsh Rebuked by Investors Craving a Real Inflation Fight

(Bloomberg) -- Kevin Warsh’s bare-bones communication style has left investors doubting his commitment to curb inflation, putting more pressure on the new Federal Reserve chairman to back up his words with interest-rate hikes.Most Read from BloombergStocks Fall as 30-Year Bond Yields Surge After Fed: Markets WrapWarner Bros. Deal Collapse Would Cost the Ellisons $9.8 BillionTrump Says US Will Strike Iran Hard as War Escalates AgainUS Intercepts Iran Attack on Bases, Puncturing Days of CalmApple

Robinhood's latest earnings beat Wall Street estimates
TheStreet12d agobullish
Robinhood's latest earnings beat Wall Street estimates

Robinhood Markets (Nasdaq: HOOD) is the e-trading brokerage platform that is extremely popular among retail traders for its equity, crypto, and tokenized stock offerings. On July 1, the brokerage firm launched Robinhood Chain, an Arbitrum permissionless, layer-2 blockchain built on ...

Wedbush on Meta: We're Not Seeing Its Capex Pay Off
Bloomberg12d agoneutralVIDEO
Wedbush on Meta: We're Not Seeing Its Capex Pay Off

Ygal Arounian, Wedbush Managing Director of Internet Equity Research, reacts to the latest Meta earnings and highlights potential concerns on ROIC from investors with the company's various forays into the AI space. He speaks to Romaine Bostick and Emily Graffeo on Bloomberg's 'The Close.'

Allspring on Chipotle, Starbucks Earnings
Bloomberg12d agoneutralVIDEO
Allspring on Chipotle, Starbucks Earnings

Abby Roach, Allspring Global Investments Senior Portfolio Analyst, reacts to earnings from Starbucks and Chipotle as the companies focus on the consumer experience in challenging times. She speaks to Romaine Bostick and Emily Graffeo on Bloomberg's 'The Close.'

Bloomberg12d agoneutral
Sandwich Chain Jersey Mike’s, Backers Raise $1 Billion in IPO

(Bloomberg) -- Jersey Mike’s Subs Inc. and some of its shareholders raised $1 billion in an initial public offering that priced at the midpoint of its marketed range.Most Read from BloombergStocks Fall as 30-Year Bond Yields Surge After Fed: Markets WrapWarner Bros. Deal Collapse Would Cost the Ellisons $9.8 BillionTrump Says US Will Strike Iran Hard as War Escalates AgainUS Intercepts Iran Attack on Bases, Puncturing Days of CalmApple Set to Make Big Smart Home Push With Siri AI at CenterThe Ti