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Seagate rises after posting better-than-expected earnings

Makers of the affordable data storage technology known as hard disk drives have become hot stocks amid the AI boom.

Hard disk drive maker Seagate Technology Holdings, one of the top-performing stocks in the S&P 500 this year, rose in the after-hours session Tuesday after reporting better-than-expected results for its fiscal first quarter.

For the quarter ended September 27, the company reported revenue of $2.63 billion vs. the $2.55 billion expectation from Wall Street analysts.
Adjusted earnings per share came in at $2.61 vs. the $2.40 anticipated on the Street.
Looking to the current quarter that ends in December, Seagate said it expects adjusted EPS of between $2.55 and $2.95 vs. a $2.69 consensus expectation.
Seagate expects revenue of between $2.60 billion and $2.80 billion in the current quarter vs. a $2.67 billion consensus estimate.

Through the end of trading on Tuesday, Seagate shares are up approximately 160% so far in 2025, as the data storage maker has ridden the rise in demand from the AI investment boom. Rival hard disk drive maker Western Digital is up roughly 180%.

Seagate was up 3.8% in recent after-hours trading.

Matt Phillips3h

Visa reports solid beat on earnings

Visa inched up in after-hours trading, as it reported quarterly numbers that outpaced expectations. The solid, but unspectacular, outperformance — it beat earnings-per-share estimates by a penny — is par for the course for a company that’s developed a reputation as a boring, but consistent, moneymaker seemingly indifferent to economic conditions.

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The market seems to like the better-than-expected news.

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Tasha Matsumoto

Tech-fueled rally drives stocks to new records ahead of Fed rate decision and big earnings

The AI trade is back on as traders await tomorrow’s rate cut decision and megacap tech earnings on Wednesday and Thursday.

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Max Knoblauch5h

Lucid plans to build a privately owned autonomous car with Nvidia tech

Shares of Lucid vaulted briefly on Tuesday afternoon following the company’s announcement that it will team up with Nvidia to bring Level 4 autonomous driving to its future vehicles.

A still unnamed midsized SUV by Lucid, planned for 2026, will feature lidar and radar provided by Nvidia’s ecosystem. Ultimately, the automaker said it aims to create the “first true eyes-off, hands-off, and mind-off (L4) consumer owned autonomous vehicle.” Level 4 autonomous vehicles, like Waymo’s robotaxis, operate without human intervention.

The Nvidia partnership will also bring new automated features to Lucid’s Gravity SUV, the luxury EV maker said. Its shares rose more than 6% before losing all those gains and dipping into the red.

Lucid and Nvidia’s announcements came along with a host of other new partnerships at the chip designer’s GPU Technology Conference in Washington, DC.

J. Edward Moreno5h

Lilly partners with Nvidia to build supercomputer for drug R&D

Eli Lilly is partnering with Nvidia to build “the most powerful supercomputer owned and operated by a pharmaceutical company” to help discover new medicines.

The drugmaker announced the deal on Tuesday, following a slew of deals Nvidia announced with other companies. Lilly did not specify the terms of the deal but did say it is using 1,000 Nvidia GPUs.

Lilly — the maker of the blockbuster diabetes and weight-loss shots Mounjaro and Zepbound — said the supercomputer “will help scientists identify, optimize and validate new molecules.”

“With purpose-built AI models and AI, we can set a new scientific standard that accelerates innovation to deliver medicines to more patients, faster,” Diogo Rau, Lilly’s chief information and digital officer, said in a statement.