Track the evolution of major financial and economic events
On May 14, the Turkish central bank raised its inflation target to 24% from 16% due to accelerating price rises. The increased inflationary pressures are triggered by the economic impact of the war in Iran.
Marvell Technology Inc stock hit a new 52-week high, marking a roughly 105% increase year-to-date. The company announced a new strategic equity investment from Advanced Micro Devices (AMD). Additionally, Cisco's strong earnings and $5.3 billion in AI infrastructure orders boosted sentiment across the semiconductor ecosystem.
Wix shares plummeted 32% after Scotiabank cut its price target from $135.00 to $110.00 while maintaining an Outperform rating. The company reported adjusted earnings per share of $0.68, significantly missing analysts' expectations of $1.25. Additionally, the adjusted gross margin declined to 66%.
On May 14, Treasury Secretary Scott Bessent stated that the U.S. will experience significant disinflation following one or two more hot inflation numbers. Bessent's comments come as Kevin Warsh is poised to take over as the chair of the Federal Reserve.
On May 14, Ondas reported a 1,065% surge in first-quarter revenue, supported by its partnership with Palantir. The autonomous drone company also raised its full-year revenue guidance.
Apple reported a record revenue of $111.2 billion for the fiscal second quarter, up 17% year-on-year. Earnings per share for AAPL rose 22% to $2.01, beating Wall Street expectations.
On May 14, Allegro, Poland's largest e-commerce platform, raised its 2026 outlook for its international business. This came after the company reported first-quarter earnings that beat expectations and full-year guidance.
On May 13, Argentina's economy ministry approved Transportadora de Gas del Sur's application to enter the RIGI large-investment incentive scheme. The expansion project for the Perito Moreno gas pipeline is valued at approximately $550 million.
On May 13, ImmunityBio faced a securities class action lawsuit after the FDA issued a warning regarding misleading efficacy claims for its product Anktiva. The news caused IBRX shares to plunge by 21%, resulting in an approximate loss of $2 billion in market capitalization.
Ford Motor Co. shares surged by as much as 15% following a bullish call from Morgan Stanley, marking the stock's best one-day performance since March 2020. In just two days, shares gained 20%, helping it turn positive for the year. While US manufacturing output accelerated due to increased auto production, supply disruptions from the war with Iran are casting a shadow over the sector. Ford is preparing to support a defense industrial mobilization in North America and Europe and is exploring how its commercial vehicles and related technologies could help governments quickly build defenses cost-effectively.
On May 13, Corning Inc. stock hit a record high of $209.43, raising its market capitalization to $179 billion. The company announced a partnership with NVIDIA to expand optical connectivity manufacturing. Additionally, the Springboard growth plan aims for $35 billion in annualized sales by 2030.
On May 13, defense contractor Anduril completed a funding round at a valuation of $61 billion. The company is involved in building President Trump’s 'Golden Dome' antimissile shield. These developments come amid rising expectations for the company's initial public offering.
Las Vegas Sands reported its Q1 earnings, posting an adjusted EPS of $0.91, significantly exceeding the expected $0.76. The company's revenue reached $3.59 billion, surpassing the anticipated $3.32 billion. These results reflect a strong recovery in Macau and Singapore, bolstering the company's market position.
On May 13, Vietnam's state oil company urged the US Navy to allow a tanker to pass through a blockade. This request comes as part of the company's efforts to ensure the continuity of oil supplies amid regional tensions.
On May 13, Nike's profit margins fell by 34% due to weak sales performance. The company is facing significant challenges in the Chinese market and underperformance in direct-to-consumer initiatives.
On May 13, Morgan Stanley raised its price target for the S&P 500, joining the upper echelon of Wall Street forecasts. Mike Wilson noted that the market has already priced in the most significant risks.
Britain's Intertek is likely to accept a £9.4 billion ($12.72 billion) takeover bid from Swedish private equity firm EQT. This potential agreement follows Intertek's repeated rejection of earlier proposals on valuation grounds.
SoftBank's Vision Fund posted a $46 billion gain driven by its massive investment in OpenAI. Other companies like Fervo Energy, Cisco, and MUFG reported strong financial results, while Honda faced its first annual loss in nearly 70 years. Meanwhile, OpenAI is preparing for a public listing and is exploring potential legal action against Apple over the ChatGPT integration.
Siemens launched a share buyback program of up to $7 billion over a period of five years. This announcement follows the company's report of higher second-quarter revenue in its industrial businesses, reflecting strong financial performance. The program demonstrates the company's confidence in its ability to achieve further growth in the future.
The closure of the Strait of Hormuz has halted construction projects globally due to shortages of oil-derived products, leading to a sharp rise in raw material costs. Oil prices have surged significantly, while major energy companies predict that prolonged closure will result in a global supply crisis. Meanwhile, Iran has launched a digital insurance platform to ensure safe passage for vessels through the strait, reflecting ongoing tensions in the region.
On May 13, European Council President António Costa stated that the EU needs to talk to Russia at the right moment to address common security issues. On the same day, Russian President Vladimir Putin hinted that the Ukraine conflict may be nearing its end but insists on settled peace terms before any meeting. Additionally, the US is withdrawing 5,000 American troops from Germany amid President Trump's criticisms of NATO.
Oil prices surged by 4% due to rising geopolitical tensions between the US and Iran, as hopes for a ceasefire deal failed to materialize. Markets are focusing on US CPI data, with expectations that strong data will support the dollar. Meanwhile, Trump indicated the possibility of military action against Iran if negotiations do not progress, increasing uncertainty in the markets.
On May 13, Ninety One SA Pty Ltd increased its stake in Microsoft by 9.0%, raising its total holdings value to $72 million. Microsoft reported strong quarterly earnings of $4.27 per share and revenue of $82.89 billion, exceeding analyst expectations. Institutional investors and hedge funds now collectively own 71.13% of the company's stock.
On May 13, Dream Finders Homes made a bid to acquire Beazer Homes USA at $25.75 per share. The total value of the proposed acquisition deal is approximately $704 million. As a result, Beazer Homes' stock surged by 22%.
