Track the evolution of major financial and economic events
Ferrari unveiled the Luce model, the company's first fully electric vehicle, priced at $640,000. The electric car received a test drive from the Pope at Castel Gandolfo, but Ferrari's stock plunged 8.4% in Milan after critics claimed the car doesn't embody the Ferrari spirit. Meanwhile, Lamborghini CEO Stephan Winkelmann stated that the company's decision to cancel its all-electric vehicle plans was the right choice.
On May 25, Spotify announced ambitious targets for 2030, aiming for a gross margin of 35-40% and operating margins above 20%. This announcement led to a rise in the company's stock prices, reflecting investor confidence in its future strategy.
Asian stocks hit record highs on May 25, with Japan's Nikkei 225 Index rising 2.85% to 65,110 yen amid expectations of a 60-day ceasefire extension between the U.S. and Iran. South Korea's and India's indices also saw significant gains, reflecting investor optimism about peace talks. However, markets fell on May 28 following reports of new U.S. military strikes on Iran, leading to rising oil prices and investor concerns about escalating tensions.
Enphase Energy shares surged 21.1% on May 24 following the expansion of the PowerMatch software and the launch of the GaN-based IQ9S-3P commercial microinverters. This move reflects the company's strategy for market expansion and enhancing the use of artificial intelligence in data centers.
On May 24, Sandisk reported Q3 revenue of $5.95 billion, exceeding previous guidance. Data center revenue surged 233% quarter-over-quarter to $1.467 billion. The company also secured $42 billion in contractual obligations, covering over one-third of the FY27 bit volume.
On May 23, Meta announced the construction of one of the world's largest AI data centers in Louisiana, valued at $200 billion. The project will require a total of 7.5 gigawatts of power, with 5 gigawatts allocated for computing, powered by 10 new natural gas plants.
BrasilAgro reported an operational loss in Q3 of fiscal year 2026, with a negative adjusted EBITDA of R$30 million. Revenues fell by 26% year-over-year driven by lower crop prices and sales volumes.
AS Watson, the owner of Superdrug, plans to publicly trade shares in both Hong Kong and London before the end of 2026. The company aims to raise $30 billion through this dual listing.
On May 22, Heartnut Grove WWT, a wholly-owned subsidiary of Water Ways, filed a voluntary assignment in bankruptcy in Canada. This decision comes amid the company's restructuring efforts.
Wix.com is facing a legal probe after its shares plummeted 27% in a single day, wiping out over $1.1 billion of its market capitalization. On the same day, the company reported a massive 46% year-over-year increase in operating expenses for Q1 2026. The $20.56 price drop has significant repercussions for the company.
Deckers Outdoor Corp reported record-breaking financial results for fiscal year 2026, with total revenue reaching $5.47 billion, the highest in the company's history. The strong performance was driven by robust consumer demand for its flagship brands, HOKA and UGG. Diluted earnings per share came in at $7.02, reflecting solid profitability alongside the revenue milestone. These results underscore Deckers' growing strength in the global footwear and lifestyle market.
On May 22, Perpetua Resources received approval for a $2.9 billion senior secured project loan from the Export-Import Bank of the United States for the Stibnite project. The loan aims to support rebuilding a secure domestic antimony supply chain in the United States under the 'Make More in America Initiative'. On the same day, NevGold is accelerating its maiden Mineral Resource Estimate at the Limo Butte Project in Nevada to address the antimony supply deficit.
Cadence Design Systems reached a record high stock price of $376.83 on May 22 after its earnings surpassed estimates. The company also raised its financial guidance for Q2 2026 and the full fiscal year 2026. Institutional ownership stands at 84.85% with a 'Moderate Buy' analyst consensus.
On May 22, Futu Holdings received an investigation notice and an administrative penalty pre-notification letter from the China Securities Regulatory Commission (CSRC). This comes as part of investigations concerning the company's operations in China.
On May 22, a coalition of over 30 state attorneys general requested a court order to break up Live Nation and Ticketmaster following a jury finding of an illegal monopoly. This move is part of efforts to enhance competition in the ticketing market and protect consumer rights.
HPE stock hit an all-time high of $34.82, marking a 98% increase over the past year. The company sold a 13.8% stake in H3C Technologies for $986.8 million, contributing to the demand driven by AI workloads. Analysts noted that the stock might be overvalued, alongside increased activist investor engagement.
On May 22, Masdar and Sungrow signed an agreement for a 7.5GWh energy storage system for Abu Dhabi's RTC project. This agreement marks a significant step towards enhancing the renewable energy infrastructure in the region.
Lenovo Group achieved a record Q4 revenue of $21.6 billion, up 27% year-on-year. The company's adjusted net income doubled to $559 million, driven by an 84% increase in AI-related revenue. Earnings per share (EPS) also exceeded estimates, reaching $0.86.
On May 21, Infleqtion signed a Letter of Intent with the U.S. Department of Commerce for $100 million in proposed funding. On the same day, D-Wave Quantum announced a Letter of Intent for $100 million in funding under the U.S. CHIPS and Science Act. On May 22, the U.S. Commerce Department awarded $2 billion to several quantum computing firms, including nine quantum firms, among them IBM.
Take-Two confirmed that the launch date for 'GTA VI' is still set for November 19. The company's revenue rose by 6% in the latest quarter, with annual revenue expectations reaching $8.1 billion. However, Take-Two's shares fell by over 4%, while Wedbush analysts pointed to the strength of the company's portfolio and reaffirmed confidence in its outlook. The company expects to increase marketing expenses ahead of the 'GTA VI' release and plans to release 29 new titles through fiscal 2029.
On May 21, mid-stage trial data revealed that the combination therapy between Moderna and Merck reduced the risk of cancer spreading by 59% after five years of follow-up. These strong results offer new hope in cancer treatment.
On May 21, BioMarin Pharmaceuticals announced positive results from its Phase 3 CANOPY-HCH-3 study for the dwarfism treatment VOXZOGO. These results led to a significant surge in the company's stock price, reflecting investor optimism about the potential effectiveness of the treatment.
Piper Sandler raised its price target for Charles Schwab to $105, citing potential revenue upside from net interest margin improvement. The company reported a net income of $2.48 billion and record revenue of $6.48 billion for Q1 2026. Schwab also announced a phased rollout of spot crypto trading for Bitcoin and Ethereum to retail clients. On May 22, the company issued $2.25 billion in senior notes to strengthen its balance sheet, bringing its total debt to approximately $59.5 billion.
Ralph Lauren reported Q4 revenue of $1.98 billion, up 17% year-over-year, beating expectations. Comparable sales surged 16% in North America and 25% in Asia. Pro forma EPS of $2.80 exceeded consensus estimates by 10%.
