Investopedia Markets News (all except PF)

Bitcoin sometimes benefits from a risk-on sentiment toward stocks.
Credit: Tayfun Coskun / Anadolu via Getty Images

Key Takeaways

• The price of bitcoin remains down about 10% year-to-date, while a risk-on recovery rally has lifted U.S. stocks into positive territory.
• Nothing—movement in the Clarity Act, nor crypto conference season—appears to be helping drive bitcoin meaningfully higher.

A recovery rally in risk assets isn't doing much for bitcoin. What gives?

U.S. stocks have risen furiously, breaking records and posting new highs. But the world's largest cryptocurrency—recently below below the $79,000 level—isn't doing much lately in comparison. Bitcoin is down about 10% year-to-date, lagging the S&P 500, gold, and even the U.S. dollar index, despite getting a lift since the start of the Iran conflict.

Bitcoin watchers cite a raft of reasons why a booming run for stocks—April was one of the best months in years —hasn't translated to bitcoin. "They don't always move in lockstep, especially over shorter timeframes," said Max Kahn, chief of crypto advisory firm Digital Wealth Partners, via email.

WHY THIS MATTERS TO YOU

Though the risk-on recovery rally has pushed U.S. stock benchmarks to fresh records, bitcoin continues to trade sideways.

At present, he said, stocks are getting more of a lift from earnings, buybacks and the outlook for monetary policy; bitcoin, meanwhile, is more dependent on factors including flows to exchange-traded funds and broader investor positioning. Meanwhile, some digital asset experts said that the average bitcoin investor may be inclined to sell at current levels near $80,000 after sitting at a loss for months.

And a piece of crypto legislation some investors think can re-energize crypto, known as the Clarity Act, has been slow to progress. Big banks have sparred with the crypto industry over stablecoin yields, and more recently disagreement over proposed ethics language that bars senior government officials from personally profiting from crypto assets, including the Trump family's crypto ventures, has also been a stumbling block.

White House adviser Patrick Witt, at the Bitcoin 2026 conference in Las Vegas earlier this week, said the industry would "take off like a rocket ship" once the Clarity Act was signed into law. But Polymarket traders view the chance of it becoming law this year at less than coin-flip odds.

The holdup "stems not from any single issue but from the number of unresolved questions," according to Alex Thorn, head of research at Crypto firm Galaxy, in a report last month.

Alaska Rep. Nick Begich, also at the conference, said he planned to revive a bill called the BITCOIN Act, which among other things would establish the cryptocurrency as a federal strategic reserve asset and require the U.S. to buy 1 million bitcoin for its coffers over five years.

For now, some experts think, bitcoin may be rangebound. Spot bitcoin ETFs have suffered nearly half a billion dollars in outflows this week.

Profit margins on Apple products declined two percentage points last quarter, partly due to higher memory costs.
Credit: Eric Thayer / Bloomberg via Getty Images

Key Takeaways

• Apple on Thursday warned pressures from an ongoing memory supply shortage would likely worsen later this year.
• Memory prices—and stocks—have soared over the past year due to surging demand from AI data centers.

A reminder from Apple, just in case Wall Street forgot: There’s a memory shortage. 

Apple (AAPL) CEO Tim Cook on Thursday warned headwinds from a memory supply crunch are only getting stronger—and not just for the rest of the first half. “Beyond the June quarter, we believe memory costs will drive an increasing impact on our business,” Cook told analysts on Apple’s quarterly earnings call Thursday, according to a transcript supplied by AlphaSense.

That could hit profits: The company forecast gross margins would come in between 47.5% and 48.5% in the June quarter, down sequentially from more than 49%.

Why This Matters

Booming demand from AI data centers has caused the price of memory devices to skyrocket over the past year. That inflation is expected to eventually show up in the price of consumer electronics.

Apple on Thursday reported better-than-expected results on the top and bottom lines, but noted the memory shortage was already pressuring profits. Gross margins on its products declined by two percentage points to 38.7%, “driven by a seasonal loss of leverage and higher memory costs,” said CFO Kevan Parekh. Company-wide margins expanded last quarter, but only because of its services business, where margins exceeded 76%. 

Memory has been one of the hottest commodities in Silicon Valley, and on Wall Street, for the past year due to a supply crunch driven by demand from AI data centers. The hyperscalers—Alphabet (GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), and Oracle (ORCL)—are expected to spend more than $700 billion on infrastructure this year. Those deep-pocketed tech giants are paying handsome premiums to secure memory, driving up prices.

Flash memory supplier Sandisk (SNDK) on Thursday reported quarterly revenue of $5.95 billion, a 251% increase from the prior year and well over $1 billion more than it forecast early in the quarter. Data center revenue grew 233% from the prior quarter, while gross margins expanded to more than 78% from 51%.

The shortage has made memory stocks some of the market's top performers. Micron (MU) stock is up more than 85% since the start of the year. Western Digital (WDC) and Seagate Technology (STX) have seen their share prices double this year, while Sandisk's has quadrupled.

The data center boom has generated so much demand for memory that it’s rewiring the industry. Sandisk CEO David Goeckler on Thursday said the company has signed multi-year partnerships with five customers needing to secure a consistent supply of memory. “We believe this marks a fundamental evolution of our business,” Goeckler said. 

Cook on Thursday said Apple would “look at a range of options” when considering how to adapt to soaring memory prices. It could strike multi-year contracts with memory suppliers, including Sandisk, Micron, and Samsung. Goeckler on Thursday said Sandisk was in talks with some “edge customers,” which includes PC and smartphone makers, about such deals.

Ultimately, it may be consumers who pay the price. “We expect Apple to raise the [average sales price] of new higher end iPhones (Foldable, ProMax and Pro) introduced this fall,” wrote Bank of America analysts in a note on Friday. “We see the iPhone as a relatively price inelastic product, where a $100 price increase would not materially shift the demand curve but would absorb most of the memory related margin pressure.”

Wall Street's confidence that Apple can defray higher memory costs helped buoy shares on Friday. The stock rose 3.3% to close at a year-to-date high.

Update—May 1, 2026: This story was updated to reflect the market close on Friday.

Even with Friday's gains, Reddit shares are still down nearly 30% since the start of the year.
Credit: Kirill Kudryavstev / AFP / Getty Images

Key Takeaways

• Reddit shares rallied Friday after the social media company's latest quarterly results beat estimates.
• Analysts said they see Reddit's investments into growing its user base and ad revenue paying off.

Reddit's stock is surging on some fresh signs of growth. Will it be enough to drive a comeback for the stock?

Shares of Reddit (RDDT) were up nearly 14% in recent trading, a day after the social media company posted earnings that blew past analysts' estimates. The company reported earnings per share of $1.01 on a nearly 70% year-over-year jump in revenue to $663.41 million. Both figures were well above analysts' projections compiled by Visible Alpha.

Advertising revenue, which makes up the bulk of Reddit's sales, jumped 74% year-over-year, which the company said was due to both an increase in ad impressions and pricing. Daily active uniques, a key user metric for Reddit, came in at 126.8 million, up 17% and just under 1 million more than analysts had called for.

Why This Matters to Investors

Reddit's gains Friday could be a sign that investors are growing more bullish on the company's trajectory, after a difficult start to the year for the stock.

JPMorgan analysts wrote following the report that they see several of Reddit's projects as likely to help grow ad revenue, and that they expect the platform to renew its licensing deals with Alphabet's (GOOGL) Google and OpenAI over the next year. The analysts said they believe the deals are helping to drive new users to Reddit, and that they expect Reddit's revenue and profits to continue growing.

Analysts from Deutsche Bank said they see Reddit's investments in its own workforce and AI efforts as likely to pay off in improving recommendations and user engagement too. Reddit also has "significant scope" to bring in more ad spending by rolling out ads in more countries, among other strategies, the analysts wrote.

Even with Friday's gains, however, Reddit shares are still down nearly 30% since the start of the year after taking a hit amid broader worries about AI-driven disruption and competition.

Spirit Airlines reportedly was hoping for a $500 lifeline from the U.S. government.
Credit: Eva Marie Uzcategui / Bloomberg via Getty Images

Key Takeaways

• Spirit Airlines could be preparing to cease operations, according to reports Friday.
• The news arrives as it and other low-cost airlines have been angling for government financial help in the face of rising fuel prices.

Spirit Airlines may not be in business for much longer.

The Wall Street Journal, citing people familiar with the matter, on Friday reported that the ultra-low-cost carrier "hasn’t been able to get sufficient support between certain bondholders and the government to secure the funding to keep it in business" and could be preparing to end operations. The airline didn't respond to Investopedia's request for comment in time for publication.

The news dented the company's stock, which trades over the counter using the symbol "FLYYQ." The shares, which in recent days had touched levels around $2 as traders sought to profit from reports that it might get a multimillion-dollar financial lifeline from the Trump Administration, were recently trading at about half a dollar a piece.

Last month, following reports that Florida-based Spirit was running out of cash due to a spike in jet fuel prices stemming from the war in Iran, President Donald Trump told CNBC that "Spirit's in trouble, and I'd love somebody to buy Spirit. It's 14,000 jobs, and maybe the federal government should help that one out."

A group of low-cost airlines that includes Spirit earlier this week asked the government to set up a $2.5 billion "liquidity pool" it could use to offset fuel prices. Some airlines have raised ticket prices and bag fees in response to the rising price of fuel.

Spirit and JetBlue Airways (JBLU) called off a proposed merger in March 2024 after Biden administration regulators blocked the deal on anticompetitive grounds. Spirit has filed for bankruptcy twice since, rejecting merger overtures from Frontier Airlines parent Frontier Group Holdings (ULCC).

Fed Chair Jerome Powell at a press conference in Washington Wednesday after the central bank held rates steady for the third meeting in a row.
Credit: Li Rui / Xinhua / Getty Images

Key Takeaways

• Expectations of Federal Reserve rate cuts have fallen significantly since the beginning of the year, even as Kevin Warsh, a Trump nominee, gets set to replace Jerome Powell as Fed chair.
• The Iran war has pushed up gas prices, raising costs and inflation expectations, which lower rates could worsen. Trump's proposals for further tariffs add to the uncertainty.
• A growing number of Fed officials have become less-inclined to cut rates amid the economic uncertainty, and Powell's decision to stay on as a Fed governor means Trump won't be able to nominate a new member of the board who might support cuts.

A rate cut from the Federal Reserve this year, once treated as a near-certainty, is now a long shot.

After the Fed on Wednesday held rates steady at a range of 3.5% to 3.75% for the third straight meeting, financial markets are now pricing in just a 17% chance of a rate cut by year-end, and a 7% chance of a rate hike, according to the CME Group's FedWatch tool, which forecasts rate shifts based on fed funds futures trading. That's a stark reversal from early in the year, when the question was when, not if, the Fed would cut next.

The central bank is contending with fast-rising energy prices due to the Iran war and fresh tariffs from President Donald Trump. The prospect of rising inflation stemming from the war and other factors has led a growing number of Fed officials to say that now isn't the time to consider rate cuts.

The uncertainty about the economic outlook poses a challenge for the incoming head of the Fed, Kevin Warsh, who is due to replace Chair Jerome Powell on May 15 if he receives final approval in the Senate. Warsh was handpicked by Trump, who has repeatedly criticized and insulted Powell for not cutting interest rates more aggressively in recent years.

What This Means For The Economy

The Fed has a dual mandate from Congress: keep inflation low and employment high. It raises rates to cool spending when inflation runs hot and lowers them to encourage hiring when the job market needs help. High rates mean borrowing costs stay high for all kinds of consumer and business loans, which translates into slower economic growth.

The Iran war is a major reason the Fed has held off, Powell said Wednesday at a press conference. The war has effectively closed the Strait of Hormuz for two months, disrupting oil supplies and sending prices for gas and diesel fuel soaring. And although the Fed usually overlooks temporary disruptions, it's unclear how long the war will last or how much higher transportation costs will push up prices for other goods and services.

Psychology is another factor: if the public believes price hikes will stick, inflation expectations could become self-fulfilling as workers demand higher wages and business increase prices to keep pace with rising costs.

The Trump tariffs have also shifted the inflation outlook. Fed economists tracking how import taxes are passed on to customers have concluded that without the tariffs, inflation would be close to the Fed's 2% goal. More tariffs are on the way. The government is holding hearings designed to replace the tariffs the Supreme Court struck down.

Inflation has edged higher in recent months. The Personal Consumption Expenditures Price Index, the Fed's preferred inflation gauge, hit its highest level in almost three years last month, according to a report from the Bureau of Economic Analysis released Thursday. With PCE at 3.5% and rising, progress that would greenlight cuts has stalled.

There's another obstacle to rate cuts. Powell said he'll stay on the Fed's board of governors, denying Trump another seat on the board. That leaves Trump with one open seat, Stephen Miran's, for Warsh to take once he's confirmed. As it happens, Miran is the FOMC's staunchest rate-cut advocate, having voted for deeper cuts than the consensus at every meeting since taking office in September.

A growing faction of Fed officials, meanwhile, is signaling no appetite for cuts. This week's vote split 8–4, the most dissents at a meeting since 1992. The FOMC's post-meeting statement contained language signaling the Fed's next move was likely to be a cut. Three of the dissenters—Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan—wanted that language out.

In an essay published Friday, Kashkari said that even in a best-case scenario in which the Strait of Hormuz opens soon, he believes interest rates would have to stay where they are "for an extended period and then easing only gradually," as inflation has been above the Fed's target for more than five years. And if the Strait is closed for an extended period: "Federal funds rate increases, potentially a series of them, could be warranted, even at the risk of further weakness to the labor market."

The Fed could still move to cut rates if fears about the job market eclipse inflation worries, according to analysts. But with unemployment claims hitting a five-decade low last week, that seems remote.

"This re-acceleration in inflation, driven by the jump in energy prices, will be enough to keep the Fed on hold for the foreseeable future," Mike Fratantoni, chief economist at the Mortgage Bankers Association, wrote in a commentary.

States are passing laws on how stores should handle cash transactions.
Credit: Al Drago / Getty Images

Key Takeaways

• States are passing laws that guide businesses on how to round cash transactions as penny circulation falls.
• Still, some experts say a lack of federal legislation could create gray areas for retailers and their customers.

Penny production has stopped—and states are starting to clarify how cash payments will work without them.

At least five states, including Arizona, Oregon, Tennessee, Virginia and Washington, have passed laws that guide businesses and consumers on how to handle cash transactions after the U.S. minted its last one-cent piece last year. Florida and New York are weighing similar measures, according to government documents and press reports.

States generally instruct businesses to factor in sales tax and then round to the nearest five- or 10-cent increment. (Prices ending in one and two pennies round down, while those at three or four cents round up; prices ending in six or seven cents round down, while those at eight and nine cents round up.) The laws offer businesses some assurance by giving merchants and consumers consistency, but they often leave questions unanswered, according to retail and academic experts, who would like to see federal legislation on the matter.

Halting the production of pennies was “one of those low-hanging-fruit policies to say: 'Hey, we eliminated something, we saved the public money,'” said Andrew Keinsley, an economics professor at Weber State University’s Goddard School of Business & Economics. “But then they didn’t weigh in with much guidance [on the] actual execution of such policy.” 

Why This News Matters to Consumers

Most retailers are happy to accept cash, according to the National Retail Federation. It's more expensive for merchants to take cards, which often come with processing or "swipe fees."

Clear state guidance helps retailers and consumers avoid conflict and confusion, said Jason Powell, a member of the Tennessee House of Representatives who supported a law that allows rounding in cash transactions.

“It’s important for the state, in my view, to provide direction,” Powell said. If problems arise, “the business can say 'hey, look there’s a state law; this is how you’re supposed to do it.'"

Stores are asking customers who want to use cash to pay with exact change as the number of pennies in circulation dwindles. That’s the method recommended by the U.S. Treasury and favored by state laws. Powell said stores cannot refuse exact change since it remains “legal tender” in the U.S.

But government officials and academic experts weren't always in agreement on whether businesses must accept pennies. If a teacher brings exact change for her $2.33 morning coffee, for example, does the cafe have to accept it? Can it instead adopt a no-penny policy and ask for $2.35?

“The one or two bills that I've read would allow stores to round to $2.35,” said Robert Whaples, a Wake Forest University professor who has studied pennies.

Yet, charging $2.35 may run afoul of consumer protection laws that prevent businesses from saying an item costs one price, and charging another, said Jay Zagorsky, a professor at Boston University’s Questrom School of Business. 

Further complications may arise in the dozen or so states with laws requiring businesses to accept cash, said Dylan Jeon, vice president of government relations at the National Retail Federation. These states often bar stores from charging customers more if they are using cash, which could be an issue if retailers are instructed to round up, Jeon said. 

“We are hopeful that we can get a federal standard passed by Congress in the very near future,” Jeon said.

There may be some time to work it out. The Treasury estimates that some 114 billion pennies remain in circulation, and it urges Americans to spend them.

With Friday's tumble, Roblox shares have lost nearly half their value since the start of the year.
Credit: Jean-Christophe Verhaegen / AFP / Getty Images

Key Takeaways

• Roblox shares fell sharply Friday after the video game platform cut its outlook for the year.
• The company pointed to user growth headwinds from new age verification programs it rolled out earlier this year.

Roblox shares are plummeting Friday after the video game maker slashed its outlook.

Roblox (RBLX) shares were down over 18% in recent trading, after the company said it now expects full-year revenue growth of 20% to 25%, down from 23% to 29% previously. Roblox also slashed its bookings outlook by more than half, forecasting growth of 8% to 12%, down from 22% to 26%.

In its letter to shareholders, Roblox cited headwinds from its investments in safety programs for its platform such as its age verification system, which the company said may be slowing engagement and user growth.

Why This Matters to Investors

Roblox's weaker-than-expected outlook could deal another blow to investor confidence, and steepen the stock's decline after what's already been a tough start to the year.

JPMorgan analysts cut their price target for Roblox to $50 from $75 following the report, saying they had expected a "modest" outlook cut considering recent engagement trends, but "nothing close to this magnitude." The analysts said they are still confident in Roblox's long-term potential, but that they would need to see engagement improve to grow more optimistic.

Roblox reported first-quarter revenue and bookings that were roughly in line with Visible Alpha estimates at $1.44 billion and $1.73 billion, respectively. The company reported a net loss of 35 cents per share, better than analysts had forecast, though Roblox's 132 million daily active users came in lower than the analyst consensus.

With Friday's sharp decline, Roblox shares are down nearly 50% since the start of the year.

Palantir shares have lost close to a fifth of their value since the start of the year.
Credit: Michael Nagle / Bloomberg / Getty Images

Key Takeaways

• Palantir's latest earnings report is due to be released Monday afternoon, with the software maker's stock seen experiencing a big swing in the days that follow.
• Revenue and profits are projected to come in substantially higher than the same time last year on strong demand for Palantir's Artificial Intelligence Platform.

Palantir is scheduled to post its latest quarterly results after the closing bell today, with traders expecting a big swing in the data analytics software maker's stock in the days that follow.

Recent options pricing suggests traders are anticipating Palantir's (PLTR) stock could swing up to about 9% in either direction by the end of the week. A move of that size from its recent level around $146 could lift the shares near $159, recovering some of their recent losses, or drag them below $134.

Palantir shares have lost close to a fifth of their value since the start of the year, as worries about potential AI disruption weighed on a number of software stocks, along with concerns that torrid gains last year may have left some stocks, including Palantir, overvalued.

Why This Matters to Investors

Palantir's earnings could provide the next data point for investors on the trajectory of the AI trade, as well as AI's impact on the software industry.

Ahead of the results, analysts from Wedbush and Baird said they see upside for Palantir to top revenue estimates as commercial and government contracts continue to grow. Wedbush analysts told clients they believe Palantir "has a golden path to become the next stalwart software company over the coming years."

Palantir's first-quarter revenue is projected to come in at a record $1.54 billion, which would represent a 74% year-over-year jump. Adjusted earnings per share are seen more than doubling to 28 cents, according to analysts' estimates compiled by Visible Alpha.

Wall Street analysts are largely bullish on Palantir stock, despite this year's struggles. Of the nine analysts with current ratings tracked by Visible Alpha, six have called it a "buy" compared to three neutral ratings. Their average price target just under $201 would suggest nearly 40% upside from Friday's close.

This article has been updated since it was first published to reflect more recent prices.

Greg Abel (right) with attendees at Berkshire Hathaway's annual shareholder meeting in 2023.
Credit: David Williams / Bloomberg / Getty Images

Key Takeaways

• Greg Abel is set to host Berkshire Hathaway's annual shareholder meeting Saturday for the first time as CEO.
• It will also be his first without Warren Buffett on stage with him.
• Buffett, who remains chair of the company's board and has said he's still making investment calls, is expected to watch from the audience.

Pressure is riding on Berkshire Hathaway's new CEO Greg Abel to deliver at Saturday's annual shareholder meeting, his first without Warren Buffett together on stage.

The 95-year-old Buffett, who remains chair of the company's board and has said he's still making investment calls, is expected to watch from the audience, leaving Abel and Berkshire's insurance head Ajit Jain to lead the first Q&A session. A second panel is set to feature the heads of Berkshire's subsidiaries, including BNSF railroad CEO Katie Farmer and Adam Johnson, the CEO of NetJets and president of consumer products, service and retailing. (You can watch the event, which is set to start at 9:30 a.m. ET and will be exclusively streamed by CNBC, here.)

After a disappointing fourth quarter for the conglomerate, a shareholder letter from Abel that failed to shed much light on his plans, and underperformance from the shares in recent months, the new CEO could face an uphill battle to resuscitate investors' enthusiasm. Shares of Berkshire (BRK.A, BRK.B) have lost more than 5% this year so far, compared to the S&P 500's 5% gain.

Many investors are still waiting to hear and see more from Abel, who's so far kept a relatively low profile. They will likely be watching closely whether Abel will reveal more about his ideas for the company's future and plans for Berkshire's massive cash pile, along with updates about a new purchase Buffett hinted at in a CNBC interview last month.

Why This Matters to Investors

Saturday's meeting gives Abel an opportunity to inspire more investor confidence, after a lackluster start to the year for Berkshire's stock amid worries about the loss of a "Buffett premium."

Ahead of the event, analysts at UBS said in a note to clients that they expect a shift in focus without Buffett taking questions. That could mean "more specific inquiries regarding BRK's business operations and fewer questions about investment philosophy and advice," they wrote.

Analysts at CFRA said they believe "key risks include erosion in insurance pricing and claims trends, particularly as auto tariffs may reignite claims inflation while commercial property pricing softens," along with broader economic weakness that could hold back demand for many of Berkshire's businesses.

Abel could also face inquiries around his stance toward investment in tech and AI, after a recent resurgence in the AI trade. "Considering BRK's historical underinvestment in technology, we expect discussions to center around how the company is approaching technology and AI under Mr. Abel's leadership," UBS wrote.

Buybacks are likely to be a source of interest as well, after Berkshire recently restarted its buyback program for the first time in nearly two years—a playbook it's followed whenever the shares fall below their perceived intrinsic value. UBS said that with shares now trading at an even greater discount to their intrinsic value since the company's buyback announcement in March, buybacks have likely continued, and could become a "critical" factor influencing investor sentiment.

Abel has also been buying up Berkshire's shares himself, in a show of confidence in their future gains. In an interview with CNBC in March, the CEO pledged to use his full after-tax salary to purchase Berkshire shares every year he's in the role, in a show of his "absolute alignment with our shareholders, our partners, our owners."

News of the day for May 1, 2026

The S&P 500 and Nasdaq posted their biggest monthly gains since 2020 in April.
Credit: Michael Nagle / Bloomberg / Getty Images

Stock futures are little changed this morning after major indexes hit fresh highs yesterday to close out their best month in years; Apple shares are gaining after the iPhone maker's latest earnings and sales outlook beat estimates; Roblox shares are tumbling after the video game maker slashed its revenue forecast; Reddit stock is jumping after the social media company's results topped expectations; and Berkshire Hathaway is set to host its first annual shareholders meeting since Warren Buffett retired as CEO. Here's what you need to know today.

Stocks Are Steady After Best Month Since 2020

Stock futures are pointing to a muted open on Friday after wrapping up a blockbuster month of gains yesterday. Futures tied to the Dow Jones Industrial Average and S&P 500 were recently up 0.2%, respectively, while Nasdaq futures slipped 0.1%. The major indexes jumped Thursday as investors evaluated earnings reports from a number of big tech companies and dozens of other firms. The S&P 500 and Nasdaq, which both closed at record highs yesterday, posted their biggest monthly gains since 2020 in April. WTI futures, the U.S. crude oil benchmark, were down less than 1% at around $104 per barrel, while gold futures fell 1% to $4,580 an ounce. Bitcoin was trading at $77,500, up from yesterday's low around $75,000. The yield on the 10-year Treasury note ticked lower to 4.38%

Apple Stock Gains as Earnings, Outlook Top Estimates

Shares of Apple (AAPL) are rising premarket after the tech giant reported quarterly results that topped Wall Street expectations. The iPhone maker closed out a busy week of tech earnings, posting better-than-expected sales and profits for its fiscal second quarter. The company also projected 14% to 17% revenue growth in its third quarter, well above the 10% mark analysts had forecast. Thursday's report was Apple's first since announcing its long-awaited CEO succession plan last week. Hardware executive and company veteran John Ternus will take over the top job from Tim Cook at the start of September. Apple shares were up more than 3% ahead of the opening bell.

Roblox Stock Tumbles on Weak Outlook

Roblox (RBLX) shares are plummeting Friday after the video game maker lowered its full-year outlook in its latest quarterly earnings report. While Roblox's revenue was in line with estimates at $1.44 billion and its net loss came in slightly smaller than expected, the company provided a disappointing outlook. Roblox said it expects 20% to 25% revenue growth over the full year, down from a previous projection of 23% to 29%. The company also now projects bookings growth, a key metric for the company, of just 8% to 12%, down from 22% to 26% previously. In its letter to shareholders, Roblox cited headwinds from its investments in safety programs for its platforms. Roblox shares were down 24% in recent premarket trading, poised to open at their lowest point since Oct. 2024.

Reddit Stock Jumps on Solid Ad Revenue Growth

Reddit (RDDT) shares are surging this morning after the social media company's latest results topped estimates. After the closing bell yesterday, Reddit said it earned $1.01 per share on $663.41 million in revenue, up nearly 70% year-over-year. Each figure came in above what analysts had forecast, per Visible Alpha estimates. Advertising revenue, the bulk of Reddit's sales, jumped 74% year-over-year to $625 million, while the company's user growth also beat expectations. Reddit shares were up 13% in recent trading.

First Berkshire Annual Meeting Without Warren Buffett as CEO

Berkshire Hathaway's (BRK.A, BRK.B) annual shareholder meeting is always a highly anticipated event, but this year's gathering is going to be very different. For the first time in decades, legendary investor Warren Berkshire won't be speaking at the event, which takes place Saturday in Omaha. After six decades as CEO, Buffett stepped down from the position at the start of this year, handing the reins to Greg Abel. Buffett said recently in an interview on CNBC that he is still actively involved with managing Berkshire's investment portfolio, but Abel will be the head executive on stage fielding questions this weekend. Buffett and the rest of the company's board will be in the crowd. Berkshire shares are down roughly 6% so far in 2026.