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Luke Kawa7/10/25

TSMC dips despite posting surprisingly strong second-quarter sales

TSMC is slumping despite posting a pretty solid set of sales for the second quarter.

The world’s biggest chip supplier reports monthly sales figures, which effectively serve as an early window into its quarterly report (slated to be released on July 17). Its June sales numbers show that revenues totaled nearly NT$934 billion, ahead of the consensus estimate for NT$928 billion.

CEO CC Wei reaffirmed the company’s full-year guidance last month even as TSMC faces a stiff headwind from a surge in the Taiwanese dollar, which weighs on profitability. Analysts are saying that in light of the currency swing, these sales numbers are even stronger than they appear if you look at them in US dollar terms. (A US dollar buys about 29 Taiwan dollars at current rates, down from a recent peak of about 33 Taiwan dollars in early April.)

The results are kind of a microcosm of markets in 2025: the strength of the AI boom overwhelming broad trade-related risks.

That being said, shares were trading as much as 1.5% higher in the premarket, but gave up all those gains to trade 1% in the red in the regular session.

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CoreWeave reports modestly better than expected Q1 results, revenue backlog nearing $100 billion

CoreWeave is whipsawing in after-hours trading as investors digest whether its ho-hum earnings report can justify the 86% rally since late March.

In Q1, the neocloud firm reported:

Revenue: $2.1 billion (estimate: $2 billion)
Adjusted EBITDA: $1.2 billion (estimate: $1.1 billion)

As of March 31, its revenue backlog was $99.4 billion.

“We surpassed 1 GW of active power and believe we are well on our way to more than 8 GW by 2030, having positioned our capital structure to scale with the opportunity ahead," said CEO, co-founder, and Chairman Michael Intrator in a press release. “AI natives and enterprise customers are choosing CoreWeave because we sit between the models and the silicon, delivering the infrastructure, software, and expertise required to build and run AI at scale.”

At the end of the quarter, the company managed to close a unique debt deal backed by GPUs and what Meta is slated to pay for AI compute.

Since then, CoreWeave and its peers have been buoyed by a scramble for compute catalyzed by a seeming shortage for Anthropic, as the Claude developer aimed to beef up its footprint amid complaints around usage limits.

CoreWeave reached a multiyear deal with Anthropic to help power Claude, and also expanded its AI compute sales pact with Meta by $21 billion.

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Matt Phillips9m

Rocket Lab reports better-than-expected Q1 sales, stock rises

Retail favorite Rocket Lab rose late Thursday after reporting better-than-expected Q1 sales and offering up beat sales guidance for Q2.

Here’s how the company did:

Q1 revenue of $200.3 million vs. Wall Street’s expectation for $189.7 million, according to FactSet.
An adjusted loss per share of -$0.07 vs. the consensus estimate of a -$0.07 loss.
Adjusted EBITDA of -$11.8 million vs. analyst expectations of -$26.3 million.
Q2 sales guidance of between $225 million and $240 million ($232.5 million midpoint) vs. expectations for $205.3 million.
Q2 guidance for an EBITDA loss of between -$20 million and -$26 million (-$23 million midpoint) vs. the -$14.5 million analysts were penciling in.

Rocket Lab shares have surged roughly 2,000% over the last two years, as the company capitalized on investor enthusiasm for space.

Over the last year, Rocket Lab also rode growing excitement about companies that plan to use their ability to place clusters of satellites into low-earth orbit, and then sell data services to earthlings below — essentially the business model of Elon Musk’s Starlink.

Though it’s privately held for now, Musk’s space behemoth — SpaceX — remains the key source of excitement around the sector, enthusiasm which will likely grow as SpaceX moves forward with plans for what’s likely to be the largest public offering ever.

Rabid space enthusiasm aside, Rocket Lab remains a money-losing company that’s burning a lot of cash, though Wall Street analysts think it could break even in 2027.

We’ll see. That projection hangs on the company’s ability to get its larger Neutron rocket into its commercial launch cycle sooner rather than later. And given that Neutron’s maiden launch — originally slated for 2025 — has been delayed to the fourth quarter of 2026, that’s by no means assured.

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Opendoor Technologies reports better-than-expected Q1 results and touts key profitability milestone

Opendoor Technologies delivered a set of better-than-expected Q1 results while touting that it’s just achieved a key profitability milestone.

In Q1, the online real estate company reported:

Revenue: $720 million (estimate: $665.2 million)
Adjusted EBITDA: -$31 million (estimate: -$33.5 million)

In the press release, the company said it is adjusted EBITDA profitable on a 12-month go-forward basis as of April 1.

For Q2, management offered mixed guidance. The company expects sales of about $900 million (estimate: $1.13 billion) with adjusted EBITDA roughly flat (estimate: -$4.66 million).

Under its new leadership, the online real estate company has redoubled its efforts on aggressive home-flipping and adopted a “default to AI approach,” including using the technology for home assessments and in closings.

“Our 4Q25 and January 2026 cash acquisition cohorts have the best combination of margin, margin stability, and resale velocity of any corresponding cohort in company history (excluding the COVID-era cohorts),” said CEO Kaz Nejatian in a press release.

Opendoor’s share price, one of the most interesting things in the stock market for a couple months in 2025, has been decidedly boring in 2026. Since late January, it’s traded in a range of roughly $4.30 to $5.60.

Tasha Matsumoto

Stocks retreat from records as investors await details about US-Iran peace deal

Stocks fell and oil prices ticked up as the US awaited Iran’s response to its peace proposal.

Black Bear in Yukon Territory

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Saleah Blancaflor56m

US national average gas price rises $0.25 in a week once again to hit $4.55

Drivers have been seeing another increase at the pump, as the national average for a gallon of regular gas rose 25 cents for a second consecutive week.

Gas prices are currently $4.55 per gallon, which is $1.40 higher than it was about a year ago, according to the American Automobile Association. Gas prices have reached their highest level since 2022 when the national average peaked at $5.01 per gallon.

While crude oil prices dropped below $100 per barrel during ongoing negotiations to reopen the Strait of Hormuz, gas prices continue to face growing pressure from global supply concerns.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

National Average Rises 25 Cents for Second Straight Week

AAA Fuel Prices

While crude oil prices dropped below $100 per barrel during ongoing negotiations to reopen the Strait of Hormuz, gas prices continue to face growing pressure from global supply concerns.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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