Broadcom leads Wall Street rally as AI chip stocks surge ahead of earnings

Penguin Solutions' strong earnings highlight the sustained growth potential in AI infrastructure, signaling robust future demand and investor interest. The post Penguin Solutions reports Q3 earnings beat with $479M in sales as AI demand surges appeared first on Crypto Briefing.

The post Musk’s Fortune Drops $50 Billion In SpaceX Selloff appeared on BitcoinEthereumNews.com. Topline Elon Musk’s net worth dropped more than $50 billion Tuesday as SpaceX shares tumbled, even as Wall Street banks raved about the rocket maker’s potential, including one that praised Musk’s firm’s potential impact on humanity as “bigger than any company’s we’ve ever seen.” Shares of the rocket maker hovered over their debut price, even as Wall Street lauded the firm’s potential. Getty Images Key Facts Shares of SpaceX plunged by nearly 7% Tuesday to below their $150 debut price, while Tesla shares dropped by more than 4%. Musk, who holds 4.8 billion SpaceX shares and another 350 million stock options, as well as roughly 700 million Tesla shares, had his net worth cut by $58.2 billion as a result, dropping it to $941.2 billion. Several investment brokers opened coverage of SpaceX’s stock on Tuesday, the most bullish of which came from Raymond James analyst Brian Gesuale, who wrote his

The post Warsh Effect: High Rates Lift Bank Profits But Increase Credit Risks appeared on BitcoinEthereumNews.com. America’s eight globally systemically important banks are posed to deliver very strong earnings. getty The upcoming second-quarter earnings season for globally systemically important U.S. banks looks like a victory lap. Driven by a spectacular resurgence in Wall Street dealmaking and an unexpected boost from a “higher-for-longer” interest rate environment, the banking sector is flashing green. According to the latest Zacks Earnings Trend Report, overall earnings for the broader finance sector are projected to surge by 12.5% year-over-year on 8.1% higher revenues. America’s GSIBs are expected to post staggering double-digit EPS growth. A massive catalyst for this boom was a blockbuster quarter for equities and trading desks, supercharged by the historic, nearly $86 billion SpaceX IPO, which alone pumped roughly $500 million in banking fees into Wall Street. Meanwhile, comme

The post SpaceX (SPCXB) Draws $300 Morgan Stanley Overweight in Coverage Debut appeared on BitcoinEthereumNews.com. SPCXB News SpaceX (SPCXB) drew its first heavyweight Wall Street endorsement as Morgan Stanley opened coverage with an Overweight rating and a $300 base-case price target, alongside a $600 bull case. Analyst Adam Jonas reframed the newly listed company not as a rocket launcher but as an artificial-intelligence infrastructure platform, arguing its Starlink satellite network and low-latency connectivity will underpin autonomous vehicles, robots and drones. The base target implies roughly 90% upside from recent trading near $160. Jonas projected revenue could reach about $319 billion by 2030 and $3.3 trillion by 2040, driven primarily by Starlink and AI rather than traditional launch services. A second catalyst arrives with SpaceX’s entry into the Nasdaq-100 Index. JPMorgan estimates the inclusion could trigger roughly $4.3 billion in automatic purchases by passive investmen

The post Corning (GLW) Stock Plunges 24% in Four Days — Why Wall Street Remains Optimistic appeared on BitcoinEthereumNews.com. Key Takeaways Corning shares have declined 24% across four consecutive trading days, settling near $186.96 and erasing $52.4 billion in market capitalization. The decline mirrors a broader retreat from AI-linked equities rather than company-specific concerns. Oppenheimer elevated its price target to $230 while maintaining an Outperform rating, describing the pullback as a “compelling entry opportunity.” Bank of America increased its target to $243, sustaining a Buy rating as Q2 results approach. Year-to-date, GLW remains up 114% in 2026 and has surged 255% over the trailing twelve months. Corning (GLW) stock has emerged as one of 2026’s top performers, propelled by robust AI-driven optical networking demand. However, the past week has delivered a sharp reversal. Corning Inc, GLW Shares declined another 4% to $186.96 during Tuesday’s session, marking the fourth

The post Tether Equity Stake Sale: Richard Heathcote’s Planned Exit appeared on BitcoinEthereumNews.com. One of the most opaque corners of the crypto industry just got a rare crack of light. Richard Heathcote, the former chief investment officer of Tether Holdings SA, is planning a Tether equity stake sale — offloading part of his 1.26% holding in the issuer of USDT, the world’s largest stablecoin by circulating supply. The process is being managed by Wall Street investment bank PJT Partners, according to Bloomberg, which first reported the development citing sources not authorized to speak publicly. Key takeaways Richard Heathcote holds a 1.26% stake in Tether Holdings SA and is selling part of it via PJT Partners. No buyer or sale price has been disclosed; negotiations are ongoing. Heathcote stepped down as CIO in March 2026 and moved into a non-executive advisory role, replaced by deputy Zachary Lyons. Tether has historically disclosed almost nothing about its capitalization table o

The post Morgan Stanley backs SpaceX as Wall Street sees massive upside ahead appeared on BitcoinEthereumNews.com. Elon Musk’s SpaceX has secured fresh buy ratings from several major Wall Street banks, with Morgan Stanley assigning a base-case price target of $300 as the stock prepares to join the Nasdaq-100 Index. Summary Morgan Stanley leads fresh Wall Street buy calls with a $300 base-case and $600 bull-case target for SpaceX. JPMorgan estimates Nasdaq-100 inclusion could trigger about $4.3 billion in passive fund buying. SpaceX shares eased before the index debut despite bullish analyst ratings and strong institutional interest. According to research notes released by Morgan Stanley, Goldman Sachs, Citigroup, and other investment banks, analysts expect further gains for SpaceX despite the stock pulling back after its recent rally. The latest recommendations come just before the company enters the Nasdaq-100, an event that JPMorgan estimates could trigger about $4.3 billion in autom

Elon Musk’s SpaceX has secured fresh buy ratings from several major Wall Street banks, with Morgan Stanley assigning a base-case price target of $300 as the stock prepares to join the Nasdaq-100 Index. According to research notes released by Morgan…