Nia Warfield, Luke Kawa6/24/25

US stocks jump, Nasdaq 100 posts record close

Risk appetite is back as Middle East tensions look to be getting farther and farther away in the rearview mirror of your robotaxi.

The Nasdaq 100 closed up 1.5% to hit a fresh closing high for the first time since February, the S&P 500 rose 1.1%, and the Russell 2000 gained 1.3% on the day.

Uber leapt over 7%, helping lead gains, after the ride-hail giant announced a partnership with Waymo to offer autonomous rides in Atlanta. Occidental Petroleum and defense names Northrop Grumman and Lockheed Martin were among the decliners, each falling more than 2% as geopolitical tensions began to cool.

Elsewhere…

A basket of retail darlings that includes Coinbase, Broadcom, Nvidia, and GameStop hit its first intraday and closing record high since November 2021 as traders doubled down on the basket of AI and crypto-adjacent plays.

Carnival sailed up 7% after posting record Q2 earnings and raising its full-year guidance as cruise bookings stay strong going into next year.

Intel popped 6% after the chipmaker said it would sunset its architecture automotive group and lay off “most” employees in the division.

Lyft shares rose 6% after TD Cowen upgraded the stock to “buy” and lifted its price target to $21, or about 40% above its current trading levels.

Micron shares rose nearly 5% a day before the chipmaking giant is set to release its third-quarter earnings results.

Fiserv and Mastercard were up 1.2% and 2.8%, respectively, after announcing a partnership to integrate the FIUSD stablecoin into a range of Mastercard products and services.

Teladoc ticked up 1.3% after jumping 15% Monday on a bullish note from Citron Research, which called the stock a “coiled spring.”

More Markets

See all Markets

Tasha Matsumoto

Stocks dip slightly, crude oil climbs amid conflict with Iran

Despite the largest-ever release of oil from the International Energy Agency’s strategic reserves, crude oil continued to climb.

Growling Polar bear

markets

Matt Phillips3h

AI “bottleneck” stocks are the big winners halfway through a tumultuous week

Memory stocks and chip machinery companies are bouncing Wednesday, following a strong Oracle earnings report that bolstered confidence in the durability of the AI data center build-out.

In fact, Sandisk is the top performer of the S&P 500 so far this week, rising more than 21% from Friday’s close, as of shortly after 2 p.m. ET. Memory chip maker Micron is second in line, up more than 13% in weekly gains, and hard disk drive maker Western Digital is also getting a lift.

Other big winners so far this week are some of the so-called semicap shares — makers of the ultraprecise machines that turn silicon into actual semiconductors — with Lam Research and KLA Corp both racking up gains of about 10% on the week. Applied Materials is up about 8% this week.

Thematically speaking, both memory stocks like Sandisk and Micron as well as semicap shares like KLA have been part of the “buy the bottleneck” trade, in which investors buy companies they believe sit at key pinch points in the AI supply chain and therefore have pretty tremendous pricing power. Through that lens, the stocks’ bounce might reflect some additional excitement about the durability of the data center boom after Oracle’s results, which included a larger-than-expected capex number as well as sales guidances that was higher than Wall Street was forecasting.

But the bounce also may be the less interesting market phenomenon of mean reversion rearing its head, as these stocks were also some of the most beaten down in the S&P 500 last week, when Sandisk lost 17% and Lam lost about 15%, for example. So, some snapback may merely be a market reflex.

Oracle jumps after Q3 results exceed expectations, boost to sales guidance

Oracle jumps after Q3 results exceed expectations, boost to sales guidance

Other big winners so far this week are some of the so-called semicap shares — makers of the ultraprecise machines that turn silicon into actual semiconductors — with Lam Research and KLA Corp both racking up gains of about 10% on the week. Applied Materials is up about 8% this week.

Thematically speaking, both memory stocks like Sandisk and Micron as well as semicap shares like KLA have been part of the “buy the bottleneck” trade, in which investors buy companies they believe sit at key pinch points in the AI supply chain and therefore have pretty tremendous pricing power. Through that lens, the stocks’ bounce might reflect some additional excitement about the durability of the data center boom after Oracle’s results, which included a larger-than-expected capex number as well as sales guidances that was higher than Wall Street was forecasting.

But the bounce also may be the less interesting market phenomenon of mean reversion rearing its head, as these stocks were also some of the most beaten down in the S&P 500 last week, when Sandisk lost 17% and Lam lost about 15%, for example. So, some snapback may merely be a market reflex.

markets

Max Knoblauch4h

Papa John’s spikes following report of a $47-per-share take-private offer from Qatari investment fund Irth Capital

A few weeks after announcing it would close 300 stores by the end of next year, Papa John’s is drawing fresh take-private interest from Irth Capital, an investment fund backed by a member of the Qatari royal family.

Papa John’s shares were up 19% on Wednesday afternoon, on pace for their best day since February 2025.

According to The Wall Street Journal, Irth is offering $47 per share for PZZA, valuing the company at about $1.5 billion. The fund currently holds a roughly 10% stake in Papa John’s, per the report.

Irth has tried to take Papa John’s private before, offering $60 per share in a joint bid with Apollo Global in June of last year. In October, Apollo Global again offered to take the company private at $64 per share. That offer was later withdrawn.

Broadly, the pizza category is being increasingly dominated by Domino’s, which opened 700 stores globally last year and has a market cap 9x greater than Irth’s latest reported offer for Papa John’s.

Exclusive | Papa John’s Draws Fresh Takeover Interest

Exclusive | Papa John’s Draws Fresh Takeover Interest

According to The Wall Street Journal, Irth is offering $47 per share for PZZA, valuing the company at about $1.5 billion. The fund currently holds a roughly 10% stake in Papa John’s, per the report.

Irth has tried to take Papa John’s private before, offering $60 per share in a joint bid with Apollo Global in June of last year. In October, Apollo Global again offered to take the company private at $64 per share. That offer was later withdrawn.

Broadly, the pizza category is being increasingly dominated by Domino’s, which opened 700 stores globally last year and has a market cap 9x greater than Irth’s latest reported offer for Papa John’s.

How Oracle is de-risking its AI boom

Oracle released its third-quarter earnings yesterday, and the company is making it clear that its ambitious AI growth is grounded in reality and cold hard cash.

BATTLE ROYALE

“This is not how they got rich and happy.”

Tech giants competition with one another

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2026 Sherwood Media, LLC