- Nordic Semiconductor (N0S TH) +3.7%
- Nordic Semiconductor Sees 2Q Rev. $200M to $220M, Est. $204.7M
- LVMH (MOH TH) +1.8%
- Thyssenkrupp (TKA TH) +1.4%
- Nordex (NDX1 TH) +1.3%
- BAE (BSP TH) +1%
- Aurubis (NDA TH) +1%
- ACS (OCI1 TH) +1%
- Nokia (NOA3 TH) -1%
- Fresnillo (FNL TH) -1.8%
- Bayer (BAYN TH) -3.5%
- Qiagen (QIA TH) -4.3%
- Telenor (TEQ TH) -4.3%
- Telenor 1Q Adjusted Ebitda Misses Estimates
After Hours Summary: BBBY +30.3%, KFRC +24.2%, SANM +13% higher on earnings; RMBS -10.6%, NOV -8.1%, CLS -7.9% lower on earnings
After Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: BBBY +30.3%, KFRC +24.2%, LC +13.5%, SEI +13.3% (also signs third long-term contract with global technology company), SANM +13% (also approves $600 mln buyback program), SSD +5.6%, CDP +4%, NUE +3.7%, UHS +2.9%, TFII +2%, CR +1.6%, CDNS +1.3%, PSA +0.5%, ARE +0.3%, BRO +0.3%
Companies trading higher in after hours in reaction to news: ORKA +5.1% ($500 mln stock offering), BMEA +3.5% (52-week results from Phase 2 COVALENT-112 trial in type 1 diabetes), TSHA +2.2% (to present new preclinical data supporting construct design of TSHA-102 ), ACRS +2.1% (to provide clinical update on key biologic and oral inhibitor programs), PRTA +1.9% (FDA grants Fast Track Designation to coramitug), CRNX +1.6% (European Commission has approved Palsonify), HESM +1.4% (increases quarterly cash distribution), CABA +1.4% (announces multiple upcoming presentations), RITM +0.9% (commercial real estate platform Paramount Group has rebranded as Elecor Properties), AWK +0.8% ($500k infrastructure upgrade project), CACI +0.6% (achieves AWS managed service provider status), NVDA +0.4% (CAO to retire), EDIT +0.3% (to present new preclinical data demonstrating progress of EDIT-401), GH +0.3% (CMO to resign), ET +0.2% (increases dividend), EFC +0.2% (estimated book value per share of $13.56), TIGO +0.2% (acquires remaining 32.5% stake in Coltel), JANX +0.1% (to discontinue further clinical development of JANX008), VOR +0.1% (stock offering by selling shareholders)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: GABC -16.5%, RMBS -10.6%, NOV -8.1%, CLS -7.9%, RNGR -6%, HLMN -4.3%, AMKR -3.6%, VTR -1.5%, LTBR -0.7%, CINF -0.1%, CCK -0.1%
Companies trading lower in after hours in reaction to news: ERAS -34.5% (preliminary Phase 1 dose escalation data for pan-RAS molecular glue ERAS-0015), NTLA -2.5% ($150 mln share stock offering), BMM -2.2% (approved a final investment decision on the construction for its Nussir project), MANE -2.1% (stock offering), AXG -1.2% (MoU with SC Ventures), PACS -0.5% (CFO to retire; names successor), CSV -0.3% (files $350 mln mixed shelf offering), ORCL -0.2% (co, BorderPlex and Bloom Energy (BE) to power Project Jupiter), BAH -0.2% (names new CFO)
OpenAI Misses Key Revenue, User Targets in High-Stakes Sprint Toward IPO
The company’s CFO and board have questioned the wisdom of massive data-center spending in the face of slowing growth
- OpenAI missed internal targets for weekly users and revenue, raising concerns among leaders about funding massive new data center spending.
- Chief Financial Officer Sarah Friar told other company leaders she is worried about future computing spending if revenue growth is insufficient.
- Board directors examined data-center deals more closely in recent months and questioned efforts to secure more computing power amid the business slowdown.
OpenAI recently missed its own targets for new users and revenue, stumbles that have raised concern among some company leaders about whether it will be able to support its massive spending on data centers.
Chief Financial Officer Sarah Friar has told other company leaders that she is worried the company might not be able to pay for future computing contracts if revenue doesn’t grow fast enough, according to people familiar with the matter.
Board directors have also more closely examined the company’s data-center deals in recent months and questioned Chief Executive Sam Altman’s efforts to secure even more computing power despite the business slowdown, the people said.
The spending scrutiny is constraining Altman’s once-boundless ambitions ahead of a potential initial public offering that could take place by the end of the year. Friar and other executives are now seeking to control costs and instill more discipline in the business, at times putting them at odds with their CEO, people familiar with the issue said.
“We are totally aligned on buying as much compute as we can and working hard on it together every day,” Altman and Friar said in a joint statement. Any suggestion that the pair are divided or pulling back on securing new computing resources is “ridiculous,” they said.
For years, Altman has sought to lock up as much data-center capacity as possible, arguing that computing shortages were the biggest constraint to OpenAI’s growth. He went on a dealmaking spree last year that put OpenAI on the hook for some $600 billion in future spending commitments, and tied much of the tech sector’s success to OpenAI’s.
The “buy everything” computing strategy was buoyed by ChatGPT’s seemingly invincible success, and had the support of both Friar and the board. But the chatbot’s growth slowed toward the end of last year, sowing fresh doubt among company leaders about the approach.
OpenAI missed an internal goal of reaching one billion weekly active users for ChatGPT by the end of last year, according to people familiar with the goals. The company still hasn’t announced that milestone, unnerving some investors. It also missed its yearly revenue target for ChatGPT as well after Google’s Gemini saw massive growth late last year and ate into OpenAI’s market share, the people said. The company has also struggled with defection rates among subscribers, according to people familiar with those figures.
OpenAI missed multiple monthly revenue targets earlier this year after losing ground to Anthropic in the coding and enterprise markets, people familiar with its finances said.
OpenAI recently raised $122 billion in what was the largest funding round in Silicon Valley history, putting it on more solid financial footing. But the company has signed up for so much computing power that it expects to burn through that amount in the next three years, assuming that it meets ambitious revenue targets. Some of the funding is also conditional and depends on specific agreements with partners.
The company’s coding tool Codex is growing quickly in popularity, and it is shaving costs by cutting other projects such as its video-generation app Sora. OpenAI recently released GPT-5.5, a powerful model that topped a number of industry benchmarks.
A number of AI companies including Anthropic have faced a capacity crunch for computing in recent weeks, leading to price increases for access to AI processors, outages and rationing. The challenges have rankled power users of AI products, especially coders who have grown frustrated when AI systems have been unable to finish tasks in a way they had come to expect from past use.
OpenAI said in a recent memo to investors that it has been able to secure more computing capacity than Anthropic, giving it an advantage in reaching users. The memo, which was viewed by The Wall Street Journal, also addressed Anthropic CEO Dario Amodei’s veiled criticism of OpenAI at a recent business conference, when he said some companies had pulled “the risk dial too far” on data-center spending.
“In hindsight, that caution looks less like discipline and more like underestimating how fast demand would arrive,” the OpenAI memo said.
In recent months, Friar has also expressed reservations about OpenAI’s plans to go public by the end of this year, according to people familiar with the matter.
She has emphasized to executives and board directors the need for OpenAI to improve its internal controls, cautioning that the company isn’t yet ready to meet the rigorous reporting standards required of a public company. Altman has favored a more aggressive timeline for an IPO, some of the people said.
OpenAI has to work through a slate of other issues ahead of a public listing. The company is currently experiencing a leadership vacuum after its second-in-command, Fidji Simo, unexpectedly took medical leave earlier this month. Separately, court proceedings began this week in a lawsuit by Elon Musk in which he is seeking to oust Altman and unwind OpenAI’s conversion into a for-profit company.
News Corp, owner of the Journal, has a content-licensing partnership with OpenAI.
Chinese Battery Giant CATL Aims to Raise $5 Billion via Share Placement
The company is angling to capture growing demand for power batteries and energy-storage batteries
- CATL plans to raise nearly $5 billion through a share placement to fund its expansion into renewables and clean energy.
- The battery maker will allocate about 90% of the proceeds to its gigafactory under construction in Debrecen, Hungary.
- CATL signed a three-year deal with Beijing HyperStrong Technology for 60 GWh of sodium-ion batteries, its first such strategic partnership.
Chinese battery giant CATL is looking to raise $5 billion in a share placement to help fund its push into renewables as demand for electrification rises.
Contemporary Amperex Technology, as the company is formally known, plans to place 62,385,000 new H-shares at 628.20 Hong Kong dollars each—a discount of roughly 7% from the stock’s closing price on Monday.
The battery maker, which counts Tesla and Volkswagen among its clients, estimates that it will raise net proceeds of HK$39.11 billion, equivalent to US$4.99 billion, it said Tuesday.
CATL’s shares fell 8.0% to HK$622.00 in early trade in Hong Kong while its Shenzhen-listed shares dropped 1.5%.
CATL said it was the right time for a placement to help it seize the opportunities arising from the global transition toward clean energy, and cement its position in the industry.
The new energy sector has been growing rapidly, particularly given the uncertainty over oil prices because of the conflict in the Middle East, and CATL wants to capture growing demand for power batteries and energy-storage batteries.
“This calls for accelerating the implementation of our global zero-carbon strategy, expanding our overseas business presence, stepping up investment in cutting-edge R&D and innovation, and building long-term sustainable growth drivers,” it said.
The company will use around 90% of the proceeds for its gigafactory under construction in Debrecen, Hungary, it said. The factory has a planned annual capacity of 100 gigawatt-hours, the company’s second battery plant in Europe after its German plant.
Late Monday, the company also said that it has signed a three-year deal with Beijing HyperStrong Technology for 60 GWh of CATL’s sodium-ion batteries, marking CATL’s first strategic partnership in the area.
While no financial details were disclosed, the move’s significance lies in it being CATL’s first strategic partnership in the sodium-ion space, seen as one of the most promising successors to the traditional lithium-iron-phosphate battery.
CATL and electric-vehicle and battery giant BYD command over half of the global market for lithium-iron-phosphate batteries, but they are also investing heavily in technologies that could eventually replace it, Gavekal Research analysts said in a note.
Sodium-ion technology is notable because it could free batteries from the vagaries of the lithium price cycle, the analysts said.
Given that China accounts for 95% of world sodium-ion production and CATL controls 90% of the relevant patents, if lithium iron phosphate batteries do give way to another technology, odds are that the leading producers will still be Chinese.
Gapping down
In reaction to earnings/guidance:
In reaction to earnings/guidance:
- DPZ -3.9%
Other news:
- CMPX -23.5% (to announce topline secondary endpoints from the Phase 2/3 COMPANION-002 study of tovecimig in patients with biliary tract cancer)
- REAX -7.8% (The Real Brokerage and RE/MAX Holdings (RMAX) have entered into a definitive agreement under which Real will acquire RE/MAX Holdings to create a leading technology-enabled global real estate platform named Real REMAX Group)
- SPIR -3.7% (discloses subsidiary received a written notice terminating the contract related to the design and development of the WildFireSat constellation)
- OPY -1.1% (settles cash sweep litigation for $70 mln)
- SES -0.9% (files for $300 mln mixed securities shelf offering)
- PPBT -0.9% (announces new data from CAPTN-3 platform Tri-specific IM1240)
Gapping up
In reaction to earnings/guidance:
In reaction to earnings/guidance:
- BGIN +4.4%, SHMD +4.4%, VZ +3.8%, CPAC +2.8%, GROY +1.5%, DEA +1.1%
Other news:
- SGMT +28.3% (prioritizes acne program, plans Phase 3 trial in 2H26; announces the pricing of an underwritten offering of 29,166,700 shares of its Series A common stock at a price of $6.00/share)
- MANE +19.4% (oral VDPHL01 achieved early, consistent, and robust hair growth in positive Phase 2/3 ‘302' clinical trial in male pattern hair loss; Conference call and webcast scheduled for 8:00 a.m. ET today)
- ORKA +16.9% (reports week 16 data for ORKA-001 from the ongoing EVERLAST-A Phase 2a trial in moderate-to-severe plaque psoriasis; Management to host a conference call today at 8:00 a.m. ET)
- OGN +16.6% (to be acquired by Sun Pharma for $14 per share in cash)
- LEE +10.4% (names Nathan Bekke as CEO and Josh Rinehults as CFO)
- NTLA +7.1% (topline results from the global Phase 3 HAELO clinical trial of lonvo-z (formerly known as NTLA-2002) in hereditary angioedema)
- MRT +5.2% (authorizes $2.5 mln share repurchase program)
- LGND +4.6% (XOMA Royalty Corporation confirms it will be acquired by Ligand Pharmaceuticals (LGND) for $39.00/share; LGND raises FY26 guidance)
- WRD +2.8% (targets global AV rollout with Lenovo (LNVGY) partnership)
- NINE +2.7% (announces that Guy Sirkes notified the company of his decision to resign from his role as Executive Vice President and Chief Financial Officer in order to accept a position at another company)
- ADGM +2.6% (announces pivotal results for vCLAS Ventricular Ablation System)
- PLSE +2.2% (presents positive outcomes in late-breaking updated data from nPulse Cardiac Catheter System at Heart Rhythm 2026)
- PONY +2% (unveils new autonomous driving compute platform with Nvidia)
- XOMA +1.6% (XOMA Royalty Corporation confirms it will be acquired by Ligand Pharmaceuticals (LGND) for $39.00/share; LGND raises FY26 guidance)