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Claire Yubin Oh1/28/26

Micron rises after rival SK Hynix posts record sales and profits

Micron shares are continuing their meteoric rise after South Korean competitor SK Hynix reported record earnings for the final quarter of 2025, underscoring the continued demand for the world’s three leading memory chip manufacturers — SK Hynix, Micron, and Samsung — fueled by rampant AI capital expenditure.

Driven by demand for its high-bandwidth memory (HBM) products, a higher-margin memory product essential for AI accelerators, the company posted a record 32.8 trillion won (~$22.6 billion) in revenue and 19.2 trillion won ($13.2 billion) in operating profit for the fourth quarter. The company’s shares were up more than 6% in trading in Korea.

SK Hynix also announced on Wednesday that it will commit at least $10 billion as it restructures a subsidiary to establish a new US-based company specialized in finding “new AI growth engines.” Management also continues to consider listing its shares in the US.

SK Hynix’s latest performance reflects the strong demand for HBM3E, its cutting-edge DRAM product, for which the Korean firm is the main supplier to Big Tech companies like Nvidia and Microsoft. Micron is second to SK Hynix’s dominance in the HBM space in market share.

Elsewhere in the AI memory and storage space, Seagate’s robust quarterly results and strong guidance is helping to lift sentiment further.

Micron, Western Digital, and Sandisk are soaring in premarket trading stateside, while Samsung shares popped up a smaller 2% at Wednesday’s close in Korea.

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WSJ reports GameStop is preparing an offer for eBay and has quietly been building a stake in the company

GameStop is preparing an offer for eBay and has been quietly building a stake in the company, according to a report from The Wall Street Journal, a move it calls “part of CEO Ryan Cohen’s audacious plan to turn the trailer into a $100 billion-plus juggernaut.”

From WSJ:

GameStop, which has a market value of around $12 billion, has been quietly building a stake in eBay’s shares ahead of a potential offer, the people said. EBay is several times GameStop’s size, with a market value of around $46 billion.
GameStop could submit an offer for eBay as soon as later this month, the people said.
If eBay isn’t receptive, Cohen could decide to take the offer directly to eBay’s shareholders, one of the people added. Details of the potential offer for eBay couldn’t be learned.

Shares of GameStop rose 7.4% after hours following the report, while eBay soared 12%.

GameStop Preparing Offer for eBay

GameStop Preparing Offer for eBay

GameStop, which has a market value of around $12 billion, has been quietly building a stake in eBay’s shares ahead of a potential offer, the people said. EBay is several times GameStop’s size, with a market value of around $46 billion.
GameStop could submit an offer for eBay as soon as later this month, the people said.
If eBay isn’t receptive, Cohen could decide to take the offer directly to eBay’s shareholders, one of the people added. Details of the potential offer for eBay couldn’t be learned.

Shares of GameStop rose 7.4% after hours following the report, while eBay soared 12%.

Tasha Matsumoto

Stocks set second consecutive closing highs

The S&P 500 posted its fifth weekly gain, its longest weekly winning streak since 2024.

Chicago Bulls Dennis Rodman (91), Scottie Pippen (33) and Michael Jordan (23) during game vs Miami Heat. Miami, FL 2/23/1996

Max Knoblauch9h

US airlines pop on report Spirit preparing to shut down as government rescue deal fails to gain support

US airlines are spiking on Friday following a Wall Street Journal report that low-budget carrier Spirit Airlines is preparing to shut down. According to CBS News, the airline could cease operations as early as Saturday, barring an intervention.

In late April, President Trump said he would “love somebody to buy Spirit.” The administration weighed a $500 million rescue package, though it received significant blowback from members of Congress and ultimately didn’t receive support from Spirit’s creditors.

On Friday, Trump told reporters that the administration has given Spirit a “final proposal.”

Shares of Spirit’s rivals surged on the report, with budget carriers like Frontier Airlines and JetBlue climbing by double digits. The big four — Delta Air Lines, United Airlines, American Airlines, and Southwest Airlines — rose by low single digits. Alaska Air and Allegiant also saw a bump.

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Helena Cheng10h

Estée Lauder gets a glow-up after earnings beat, guidance hike

Estée Lauder shares are soaring after the beauty giant released Q3 earnings results that topped expectations and raised its full-year outlook, while also expanding its restructuring plan.

The key numbers:

Revenue of $3.71 billion (compared to analysts’ estimate of $3.69 billion).
Adjusted earnings per share of $0.91 (estimate: $0.65).

Estée Lauder also lifted its full-year earnings outlook to a range of $2.35 to $2.45 per share, up from $2.05 to $2.25 previously.

The bottom line is getting flattered by job cuts, with management increasing that target to as many as 10,000 roles, up from a prior range of 5,800 to 7,000, as part of a broader effort to streamline operations and shift toward faster-growing sales channels.

The rally comes after a tough stretch for the stock, which is down more than 20% year to date, with the results inspiring hope that its turnaround efforts will bear fruit.

CEO Stéphane de La Faverie said fiscal 2026 is “promising to be the pivotal year we intended,” with the company expecting to restore organic sales growth and expand margins for the first time in four years.

Amid these positive signals, Estée Lauder flagged risks from tariffs, geopolitical tensions, and potential disruptions tied to the Middle East.

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