BUSINESS

Meta's AI and advertising growth drive strong returns, but Reality Labs losses and valuation concerns challenge investors. Analysts highlight AI integration and advertising resilience amid economic uncertainties.

Erasca Inc. shares rose nearly 9% as investors responded positively to promising clinical data for its cancer therapy, ERAS-0015, and strategic collaborations aimed at advancing its oncology pipeline.

NEW YORK — AppLovin Corporation shares surged more than 12 percent on Wednesday, climbing $62.17 to $576.41 in midday trading after the mobile technology company reported robust first-quarter results and raised its full-year guidance, highlighting continued strength in its AI-powered advertising platform and gaming business.

Apple's iPhone 18 Pro Max is set for a September 2026 release, featuring a 2nm A20 Pro chip, variable aperture camera, and new colour options, marking significant advancements in AI and photography.

Investors face a choice between Intel, NVIDIA, and TSMC as they navigate the semiconductor sector's AI-driven growth, balancing risk and reward amid geopolitical and market challenges.

Apple's stock rose due to its AI initiatives and strong services business, maintaining investor confidence amid competitive pressures. The company focuses on AI integration and ecosystem growth for future success.

Tesla's shares rose 1.80% as investors focused on its autonomous driving technology and energy storage growth, amid broader interest in AI and clean energy sectors.

MGM Resorts shares rose over 10% following analyst upgrades, driven by optimism in Las Vegas Strip recovery and strong leisure travel demand. Analysts highlight strategic initiatives and growth prospects.

Alphabet's Q1 2026 results show strong AI and cloud growth, boosting investor confidence and stock performance. The company's strategic investments and market positioning drive optimism for future growth.

Asana experienced service disruptions affecting task loading and collaboration, impacting global productivity. Users reported issues on social media, while Asana's status page showed no widespread incidents.

Abercrombie & Fitch's shares rose 13.39% after surpassing Q1 2026 earnings expectations, highlighting effective brand strategies and inventory management amidst a competitive retail environment.

Manchester United's shares rose 12.66% following a robust fiscal Q3 2026 report, highlighting revenue growth, Champions League qualification, and operational improvements, boosting investor confidence and future financial outlook.

Dycom Industries' shares soared 31% after reporting record first-quarter earnings, raising fiscal 2027 outlook, and announcing a strategic acquisition in the data center sector.

Bath & Body Works Inc. shares surged 16.86 percent on Wednesday, rising $2.99 to $20.72 in morning trading after the retailer reported first-quarter results that exceeded Wall Street expectations on both sales and earnings, offering reassurance amid a challenging retail environment.

Micron Technology's shares surged due to strong AI infrastructure demand, tight supply conditions, and bullish forecasts, pushing its market cap towards $1 trillion and highlighting its role in AI data centers.

The Dow Jones Industrial Average rose by 164.66 points, driven by AI enthusiasm and easing geopolitical tensions, with strong corporate earnings and semiconductor momentum supporting the market.

CD Projekt Red announces 'Songs of the Past,' a new expansion for The Witcher 3, arriving in 2027. The expansion continues Geralt's adventures, marking a decade-long legacy for the acclaimed RPG.

The S&P/ASX 200 index rose slightly, reflecting cautious optimism amid global tensions and stable domestic economic indicators, with resource and financial stocks providing support despite broader market hesitation.

Canva experienced scattered disruptions affecting users in Asia and North America, causing workflow interruptions for professionals and students relying on the platform for design projects.

Futu Holdings' shares rose over 17% due to aggressive share buybacks and anticipation of a strong earnings report, reflecting investor confidence in the company's growth and capital return strategies.

JOYY Inc. shares rose 17% after reporting strong Q1 revenue growth and announcing a $1.5 billion shareholder return program, reflecting investor confidence in its diversified tech ecosystem.

Intuitive Machines' shares surged over 15% as investors responded positively to its NASA lunar mission progress and commercial opportunities, highlighting its leadership in the growing space infrastructure sector.

United Microelectronics Corporation's shares rose 17% due to strong April revenue and optimism in the AI semiconductor market, reflecting confidence in the company's strategic focus and market positioning.

Firefly Aerospace's shares rose over 20% due to its expanding role in national security programs and strong demand for space infrastructure solutions, driven by contract wins and advancements in lunar and orbital programs.

Modine Manufacturing's shares rose over 24% following a $4 billion multi-year agreement with a data center client, highlighting its pivotal role in AI infrastructure and boosting investor confidence.

Redwire Corporation's shares jumped over 23% due to new defense contracts and positive analyst reviews, highlighting its growth in the space and national security sectors.

GameStop proposes a $56 billion acquisition of eBay, aiming to create a powerful retail entity. The move, led by CEO Ryan Cohen, has sparked speculation and market volatility.

The Dow Jones Industrial Average rose nearly 195 points as investors welcomed progress in U.S.-Iran peace talks, boosting market sentiment and stabilising global energy markets.

Micron Technology shares surged over 13% following a UBS analyst upgrade, highlighting strong demand for AI-driven memory chips and strategic supply agreements, boosting investor confidence in the company's growth.