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Kroger is back on the M&A trail, striking a $1.65 billion deal for regional grocer Giant Eagle. The acquisition marks the company’s first major move since its failed Albertsons merger and a key test for new CEO Greg Foran.
Deep Dive
Meta's plan to sell 'excess AI compute' sent the stock up ~10% on July 1 while Micron fell ~10% and CoreWeave dropped ~12%. Zuckerberg says buyers are still paying above procurement cost — this is not the capex inflection point, but it is a dress rehearsal.
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JPMorgan’s stock has underperformed some rivals this year, but the upcoming Q2 earnings season could be a catalyst. An AI overhaul is already saving the bank $2 billion annually.
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Broadcom shares slid over 2% in after-hours trading, but JPMorgan is standing by its lofty price target. The chipmaker is one of three semiconductor stocks that Yahoo Finance says "hold the stock market's fate in the palm of their hands."
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Bank of America (BAC) jumped over 2% after earnings, but a top investor warns the broader market is flashing "out of whack" signals on valuation and technicals, with the AI trade facing a monetization reality check.
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SoftBank is back at the table with banks for a $10 billion loan backed by its AI infrastructure bets, including the Stargate project. Oracle’s 10-K revealed capex surged to $55.7 billion and flagged dozens of risks tied to AI data-center buildout, sending shares down 2.76% after hours.
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Salesforce (CRM) popped over 4% in after-hours trading after CrossCountry Consulting bought Dupont Circle Solutions, a Salesforce-focused tech consultancy, adding 60+ staff and sharpening its AI-driven revenue operations.
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Palantir (PLTR) jumped 8.7% after announcing a strategic partnership with NVIDIA to deploy sovereign AI for US federal agencies. The deal, which targets sensitive government environments, is seen as a potential catalyst after PLTR dropped ~25% in June.
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Micron shares plunged nearly 10% on fears that rival SK Hynix’s $29 billion Nasdaq IPO will flood the memory-chip market. The selloff comes despite Micron’s record 84.9% gross margin and $100 billion in long-term contracts.
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Meta is reportedly building a cloud business to sell excess AI compute capacity and model access, directly challenging AWS, Azure, and Google Cloud. Shares spiked nearly 10% in Wednesday trading as the plan eases investor fears over the company’s massive AI capex.
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MicroStrategy (MSTR) jumps nearly 8% as bitcoin slides below $60,000, while Circle and Coinbase get hammered by a new stablecoin alliance from Visa, Stripe, and Mastercard.
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A Swedish court hit Google with a $1.5 billion antitrust damages verdict for Klarna, while South Korea launched a fresh investigation into its app-store payment policies. The twin blows underscore mounting global regulatory pressure on Alphabet.