markets

Jon Keegan2/27/25

Dell sales miss estimates, sending shares down 9% after-hours

Dell shares dropped over 9% after reporting $23.9 billion in its fiscal fourth-quarter revenue, slightly missing the estimate of $24.6 billion. But the news isn’t all bad.

Earnings per share of $2.68 beat analysts’ estimate of $2.52. For the full year, the company reported $95.6 billion in revenue, up 8% year over year. The company also announced that it’s increasing its annual cash dividend by 18% to $2.10 per common share.

Dell is a partner of Elon Musk’s xAI, which is rapidly scaling its “Colossus” supercomputing cluster in Tennessee, and its AI bookings are keeping the company busy.

Jeff Clarke, Dell’s COO, said in the earnings press release (emphasis ours):

“Our prospects for AI are strong, as we extend AI from the largest cloud service providers, into the enterprise at-scale, and out to the edge with the PC. The deals we’ve booked with xAI and others puts our AI server backlog at roughly $9 billion as of today.”

Dell’s infrastructure solutions group, which handles the AI server business, pulled in full-year revenue of $43.6 billion, up 29% year over year.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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