Bitcoin stumbled early Friday, slipping below $85,000 overnight before rebounding to around $88,000. The 3% decline over the past 24 hours highlights growing uncertainty among traders, who had anticipated bullish momentum following President Donald Trump’s executive order establishing a strategic Bitcoin reserve. However, instead of a large-scale government acquisition, the reserve will be seeded with Bitcoin already owned by the federal government through criminal and civil asset forfeitures. White House crypto czar David Sacks emphasized that this approach “will not cost taxpayers a dime,” but the lack of new government purchases left investors disappointed. Strategic Bitcoin Reserve: A Game Changer or a Political Play? Trump’s move marks a stark contrast from his previous skepticism of cryptocurrencies. The reserve, described as a “digital Fort Knox,” aims to establish Bitcoin as a long-term strategic asset for the U.S. government. Sacks revealed that Washington holds approximately ...

Costco ( COST ) stock dropped sharply on Friday, sliding over 6% as investors reacted to the wholesale giant’s fiscal second-quarter earnings. The company reported adjusted earnings per share (EPS) of $4.02, missing Bloomberg’s consensus estimate of $4.11. Revenue, however, slightly exceeded expectations at $63.72 billion, compared to projections of $63.01 billion. Despite a 6.8% increase in overall same-store sales, Costco fell short in Canada and other international markets. Excluding fuel and foreign exchange impacts, same-store sales rose by an impressive 9.1%. However, the earnings miss and macroeconomic uncertainty led to a sell-off, erasing some of Costco’s year-to-date gains. Even with Friday’s decline, the stock remains up over 5% for the year, outpacing the S&P 500’s 2.4% drop. Margins Under Pressure as Inflation Persists Rising costs weighed on Costco’s margins, particularly in fresh food categories such as meat and bakery. CFO Gary Millerchip noted that inflation in egg...

Broadcom Inc. ( AVGO ) delivered a stellar fiscal first-quarter earnings report, driving a 6% surge in its stock price in early trading. The semiconductor and infrastructure software giant posted revenue of $14.92 billion, surpassing analysts’ consensus estimate of $14.62 billion. Adjusted earnings per share came in at $1.60, beating Wall Street’s expectation of $1.51. CEO Hock Tan credited Broadcom’s success to robust demand for its AI semiconductor solutions and infrastructure software. The company’s strong guidance for the second quarter—forecasting revenue of $14.9 billion against analysts’ expectation of $14.71 billion—further reinforced investor confidence. AI Growth Accelerates as Hyperscalers Expand Artificial intelligence remains the key driver behind Broadcom’s impressive results. The company’s AI-related revenue skyrocketed 77% year-over-year to $4.1 billion, exceeding its prior forecast of $3.8 billion. For the current quarter, Broadcom expects AI revenue to reach $4.4 bill...

Zscaler ( ZS ) delivered a stellar fiscal second-quarter earnings report, significantly surpassing analyst expectations and lifting its full-year outlook. Despite an uncertain IT spending environment, the cybersecurity firm demonstrated accelerating billings growth and improving sales productivity, driving market share gains against competitors such as Palo Alto Networks ( PANW ) and Microsoft ( MSFT ). Shares of Zscaler rose 5.5% following the announcement. Zscaler reported earnings per share (EPS) of $0.78, well above Wall Street’s forecast of $0.69. Revenue climbed to $647.9 million, exceeding estimates of $634.4 million, representing a 23% year-over-year increase. Billings growth also accelerated to 18%, reaching $742 million, underscoring strong demand for Zscaler’s Zero Trust security solutions. Capitalizing on Zero Trust and AI Growth CEO Jay Chaudhry credited the robust results to rising adoption of Zero Trust architecture and AI-driven security solutions. “Growing adoption of ...

Marvell Technology Inc. ( MRVL ) shares plunged over 18% on Thursday, marking their steepest drop in more than nine years. The sell-off was triggered by a revenue forecast that, while in line with analyst estimates, fell short of the highest expectations. The sharp decline in Marvell’s stock price also weighed on other AI-linked semiconductor companies, raising fresh concerns about the sustainability of the AI-driven stock rally. Nasdaq 100 fell 2.4%, S&P 500 dropped 1.8%, and Dow declined 1.2% following Marvell’s earnings release. The market’s negative reaction highlights the fragility of AI stock valuations amid broader economic and geopolitical uncertainties. Marvell’s Earnings Beat But Fail to Impress For the fiscal fourth quarter ending February 1, Marvell reported revenue of $1.82 billion, a 27% year-over-year increase that slightly exceeded analyst expectations of $1.8 billion. Adjusted earnings per share (EPS) came in at $0.60, edging past Wall Street’s forecast of $0.59. T...

Major technology companies are moving decisively to ensure they remain in President Donald Trump’s good graces as his second administration reshapes policy in Washington. Apple ( AAPL ), Meta ( META ), Google ( GOOG ), and Amazon ( AMZN ) are among the corporate giants adjusting their strategies to align with Trump’s priorities, from cutting diversity programs to making high-profile domestic investments. Apple, for instance, has pledged $500 billion in U.S. projects, including sourcing servers for its AI platform from Texas. Taiwan Semiconductor Manufacturing Co. ( TSM ) has committed $100 billion toward new facilities in Arizona. These investments are a direct response to Trump’s rhetoric against the CHIPS and Science Act, which he has labeled a "horrible, horrible thing." The Political Calculations Behind Corporate Moves Google, in an overt political move, renamed the Gulf of Mexico to the "Gulf of America" in its mapping service while simultaneously rolling back ...

Abercrombie & Fitch ( ANF ) shares plummeted on Wednesday, shedding over 10% in early trading after the retailer reported weaker-than-expected earnings for the fourth quarter. Despite narrowly beating revenue expectations with $1.58 billion in sales, the company fell short on earnings per share (EPS), posting $3.57 against an anticipated $3.54. More concerning for investors was the company’s cautious guidance for 2025. Management forecasted revenue growth of 3-5% for the full year, a steep slowdown from the 16% expansion in 2024. Operating margins, which hit a decade-high 15% last year, are expected to remain flat or decline slightly, signaling potential profitability pressures ahead. Tariffs and Consumer Demand Weigh on Outlook One major factor behind Abercrombie’s cautious guidance is the anticipated impact of tariffs imposed by the Trump administration on imports from China, Mexico, and Canada. While the company has been working to adjust its supply chain, the new trade policies...

Ross Stores Inc. ( ROST ) delivered fourth-quarter earnings that exceeded Wall Street expectations but provided a cautious outlook for the first quarter, citing weaker consumer spending. Shares initially dropped about 5% in premarket trading before recovering throughout the day, trading 0.7% at the time of this writing. CEO Jim Conroy, in his first earnings call since assuming the role in December, acknowledged "softer business" as the company transitioned into the new fiscal year. He attributed this to macroeconomic pressures affecting consumer confidence and discretionary spending. The retailer posted a 3.8% decline in net income to $586.8 million, with diluted earnings per share (EPS) falling to $1.79 from $1.82 a year ago. Net sales also slipped 1.8% to $5.91 billion. Despite these declines, Ross Stores reported a 3% increase in comparable store sales, bolstered by strong holiday demand in cosmetics and children’s merchandise. Geographically, the Pacific Northwest and Tex...

Cybersecurity leader CrowdStrike ( CRWD ) delivered a solid fiscal fourth-quarter performance, surpassing Wall Street expectations.  Revenue surged 25% year-over-year to $1.06 b illion, exceeding analysts’ forecasts by $20 million. Adjusted earnings per share came in at $1.03, well above the consensus estimate of $0.86. However, investors were rattled by the company’s guidance for the upcoming quarter, which fell well short of expectations. CRWD projected adjusted EPS between $0.64 and $0.66, significantly below the $0.96 analysts had anticipated. The company’s stock tumbled as much as 12% intraday following the earnings announcement, marking its steepest single-day decline since last July’s global outage. Although shares later recovered some losses, they remain down more than 7% at the time of this writing, reflecting investor unease over slowing growth and rising operational costs. The Lingering Impact of Last Year’s Outage The July 2024 outage that crippled millions of Windows s...

Target ( TGT ) delivered a surprisingly strong holiday quarter, beating expectations on sales, margins, and earnings per share. The company attributed its gains to improved sales in apparel and home goods, along with strong demand for discretionary items such as toys and electronics.  Despite these positive results, Target’s overall sales and profit margins declined year over year, raising concerns about its long-term trajectory. This initially triggered a sharp 5% intraday drop in the stock. However, as the session progressed, buyers stepped in, helping it recover some losses, with the stock last trading down 2.6% on the day. The volatility underscores investor sentiment and short-term uncertainties, even amid strong financial performance. Same-store sales increased by 1.5% in Q4, aligning with forecasts, while digital sales surged 8.7%. However, overall revenue dropped 3.1% to $30.9 billion, a reflection of broader economic pressures. The company’s ability to drive customer traff...

Okta ( OKTA ) delivered a stellar earnings report that sent its stock surging nearly 19% on Tuesday morning, reflecting investors’ optimism about the company's future. The identity security giant posted adjusted earnings per share (EPS) of $0.78 on revenue of $682 million, surpassing Wall Street’s expectations of $0.74 EPS and $669 million in revenue. CEO Todd McKinnon described the quarter as a “breakout” moment, citing strength across all segments of the business. Okta also raised its full-year revenue guidance to between $2.85 billion and $2.86 billion, an upward revision from its previous outlook of $2.77 billion to $2.78 billion. Analysts had anticipated $2.79 billion, making the revised forecast a clear signal of Okta’s confidence in its continued growth. Strength Across the Board: Growth in Large Deals and Cloud Expansion Several key factors contributed to Okta’s strong performance. The company’s sales productivity reached multi-year highs, and its 2021 acquisition of Auth0 ...

The United States has once again imposed sweeping tariffs on its largest trading partners, triggering a fresh wave of global economic uncertainty. President Donald Trump, in his second term, has escalated tariffs to unprecedented levels: 25% duties on imports from Canada and Mexico and a 20% levy on Chinese goods. These measures affect roughly $1.5 trillion in annual imports, sending a clear signal of a shift toward protectionist policies. While tariffs are designed to shield domestic industries and create jobs, their broader economic impact is complex. Tariffs increase costs for consumers and businesses that rely on imported goods. In this case, American households could see an additional $2,000 in costs annually, and companies dependent on cross-border supply chains are facing declining profit margins. Markets reacted swiftly, with the S&P 500 falling 0.8%, the Nasdaq 100 dropping 0.7%, and the Dow Jones Industrial Average sliding 0.8% in early trading following the announcement....