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Marvell: Surging Forward Guidance – Is It “Confidence” or Just “Wishful Thinking”?

Google Directed to Suspend Development of Two Data Centers in Finland

06:28 AM EDT, 10/07/2026 (MT Newswires) -- Alphabet's (GOOGL, GOOG) Google has been ordered to suspend development of two data centers in Finland until environmental impact assessments for the projects are completed, according to a Google translation of Finland's licensing body's statement Tuesday. The Finnish Licensing and Supervision Agency, or LVV, issued a notice to Google's unit Tuike Finland Oy to halt preparatory measures that will substantially change the environment at the data center project planned for Muhos and Kajaani. The suspension applies to the removal of trees and topsoil, excavation, quarrying, crushing, transfer of soil masses, ditching and the construction of construction roads and storage areas by the company, LVV said. Completion of the environmental impact assessment reports for the projects is expected in 2026, it added. Google did not immediately respond to MT Newswires' request for comment.

Stocks Futures Steady as Bond Selloff Extends, Oil Prices Rise

By Joe Stonor Nasdaq and S&P 500 futures were little moved in early European trade after the indexes surged to records in the last session, as still-higher Treasury yields and a fresh jump in oil prices failed to knock U.S. stock market exuberance. The "Magnificent Seven"--the mega-cap companies Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta and Tesla--continued to strengthen in premarket trade after powering indexes to new records. Gains were limited elsewhere, however, as futures for the Dow Jones Industrial Average futures dropped 0.2%. Futures for the S&P 500 were flat, while Nasdaq futures edged 0.1% lower amid weakness for some chip makers. "The breadth of the rally has narrowed," said UBS Wealth Management Chief Investment Officer Mark Haefele. "The increasing concentration of market gains reinforces the importance of managing risk." Brent crude oil prices rose 0.6% to $101.20 a barrel while WTI prices neared $90 after Houthi militants attacked Saudi airports. Conflict in the Arabian peninsula is escalating after Saudi-backed forces launched a counteroffensive to retake territory along the Red Sea. Treasury yields rose in tandem with oil prices. Ten-year yields added 3.6 basis points to 5.307%, while 30-year yields jumped 4.3 basis points to 5.683%. Higher yields and oil prices dragged the market mood in Asia and Europe. The Korean Kospi slipped 2%, while Hong Kong's Hang Seng Index fell 0.6%. Japan's Nikkei 225 fell 0.9%. In Europe, AI-linked stocks slid as the continent-wide Stoxx 600 fell 0.55%. French government bonds came under renewed pressure as budget talks remain in focus. Ten-year French OAT yield increased 5.4 basis points to 4.806% compared with a 2.2-basis-point rise for 10-year Bund yields. The dollar continued to strengthen as oil prices rose, prompting a fall in bitcoin and gold prices. Bitcoin fell close to $84,100, while New York gold contracts fell 0.7% to $4,159 a troy ounce. For the day ahead, the Federal Reserve will publish minutes from its September policy meeting, adding color to

Dow Jones Top Company Headlines at 3 AM ET: Shell's Refining Margin Surges to Record | A ...

Shell's Refining Margin Surges to Record Refining margins came in at $42 a barrel in the third quarter compared with $24 a barrel in the second, driven by volatility stemming from the conflict in the Middle East. ---- A High-Stakes Gambit Clinched Paramount's Warner Deal David Ellison's megadeal combining Paramount and Warner Bros. closed Tuesday, ushering in a new era for Hollywood. ---- LG Electronics' Preliminary Earnings Disappoint The South Korean consumer-electronics company has continued to expand aggressively into fast-growing businesses in the AI era, such as data-center cooling systems. ---- Jaguar Ditches the Pink Branding in Unveil of Its Big, Sleek Type 01 EV Long-promised vehicle will start around $130,000 in the U.S. as Jaguar aims to sell fewer cars at higher prices. ---- Constellation Brands Profit Rises on Higher Beer, Spirits Sales Sales in Constellation's beer business, which includes Corona and Modelo, rose 5%, while its wine and spirits business saw a 17% increase in sales. ---- Fair Isaac to Cut About 15% of Workforce as Competition Intensifies The job cuts come as the company behind the FICO credit score faces new competitive pressure. ---- FlyDubai Attacker Was Part of Pilot Hiring Spree at Fast-Growing Airline Authorities and industry insiders are now questioning whether the airline's fast growth contributed to last week's near catastrophe. ---- Penguin Solutions' Memory Business Soars on AI Demand. Can Its Stock Rally Again? Penguin Solutions posted fiscal fourth-quarter earnings of $1 a share, a 133% year-over-year rise, and net sales of $567 million, up 68%. ---- Google and Constellation Energy Strike a Sweeping Nuclear-Power Deal The deal is the largest-ever "uprate" project, one that squeezes more power out of existing reactors, between a nuclear-power provider and a tech company. ---- AI-Computing Startup Lambda Is Raising $4 Billion in Final Round Before Planned IPO The Nvidia-backed company is targeting an IPO in 2027. ---- Skydance's Ambitious Goals Face a Steep Road Skydance fa

Australian stock market declines due to persistently high bond yields and rising oil prices

As of market close, mining and banking stocks recorded the largest declines this week, as investors await the minutes of the Reserve Bank of Australia’s meeting scheduled for October 13. Boosted by a deal between Google and Constellation Energy, uranium mining stocks surged. On Wednesday, the Australian stock market closed slightly lower amid volatile trading, with global yields and oil prices remaining high, leading investors to adopt a wait-and-see attitude. The benchmark S&P/ASX 200 Index closed down 0.1% at 8,727.70 points, having risen as much as 0.2% during the session. The index had gained more than 1% over the past three trading days. The recent bond market sell-off kept the yield on the benchmark 10-year U.S. Treasury above 5.3%, dampening risk appetite among investors. Oil prices rose amid storm threats in the Gulf of Mexico and escalating tensions between Saudi Arabia and Houthi forces. According to BetaShares investment strategist Hugh Lam, despite persistently high bond yields, the stock market remains resilient with global corporate earnings serving as the main support; however, sustaining the rally through year-end is becoming increasingly difficult, especially for long-duration growth stocks. Rising yields signal the market expects higher borrowing costs for governments and corporations, and also anticipates sustained inflation. On the day, banking stocks fell 0.6%, marking their worst single-day performance in nearly a week. Of the “big four” banks, Westpac saw the largest drop, down 1.2%. The market is awaiting the Reserve Bank of Australia’s policy meeting minutes next week for insights into policymakers’ views on inflation, which prompted the central bank to raise interest rates last week to their highest levels in 15 years. September quarter consumer price data, due at the end of October, may provide further clues on the direction of interest rates. The mining sub-index slipped 0.3%, dragged down by falling copper prices. Industry leaders BHP fell 0.7% and Rio Tinto dropped 0.6%. Energy stocks rose 0.5%, driven by uranium miners after Google signed a 20-year power purchase agreement linked to nuclear power generation. Component stocks Deep Yellow, Paladin Energy, and NexGen Energy Ltd gained between 2.5% and 4.6%. New Zealand’s S&P/NZX 50 Index fell 0.1%, closing at 13,684.04 points.

U.S. stock Q3 earnings season kicks off next week: S&P 500 earnings per share expected to grow by 27%, with Nvidia and Micron contributing one-third.

Goldman Sachs expects S&P 500 earnings per share in Q3 to grow 27% year-on-year, with Micron contributing 19%, Nvidia contributing 15%, and the top ten companies together accounting for 68% of incremental earnings. Meanwhile, the median S&P 500 company’s earnings growth is only 9%, significantly lower than the 14% in Q2, signaling that profits and performance in the market are increasingly concentrated among a few AI and energy leaders.

BUZZ - Australian uranium mining stocks surge after Google reaches power deal with Constellation Energy

October 7 - Shares of Australian uranium mining companies surged after Google (GOOGL.O) signed a power agreement with Constellation Energy (CEG.O), the largest nuclear power plant operator in the United States (link). Google (GOOGL) and Constellation Energy (CEG) have entered into a multi-year deal under which Google will purchase 3,590 megawatts of electricity from Constellation; according to both parties, the additional nuclear-generated electricity accounts for roughly a quarter of total supplied power. Uranium is primarily used as fuel for nuclear power plants to generate low-carbon electricity. Boss Energy (BOE.AX) shares rose 9%, reaching their highest level since September 29, while Paladin Energy (PDN.AX) shares climbed over 6%. Deep Yellow (DYL.AX) shares rose nearly 10%, marking their largest intraday gain since September 3. Within the broadly flat ASX200 benchmark index (.AXJO), DYL and PDN ranked among the top gainers. (For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. Since automated translations may contain errors or lack the necessary context, Reuters does not guarantee their accuracy and provides them solely for reader convenience. Reuters accepts no responsibility for any damage or loss arising from the use of the automated translation function.)

S&P 500 Hits a New High, but Gains Are Mostly Driven by AI Trading

Although US stocks have reached historic highs, the market is severely polarized, with gains heavily reliant on AI-driven tech giants. Under macro pressures such as Federal Reserve rate hikes, high US Treasury yields, and elevated oil prices, funds view cash-rich tech giants as safe havens, resulting in broad pressure on small-cap stocks and traditional sectors. Despite technical risks, this narrow-range rally continues to temporarily support the broader market.

Dow Jones Top Company Headlines at 9 PM ET: Constellation Brands Profit Rises on Higher Beer, Spirits Sales | Fair ...

Constellation Brands Profit Rises on Higher Beer, Spirits Sales Sales in Constellation's beer business, which includes Corona and Modelo, rose 5%, while its wine and spirits business saw a 17% increase in sales. ---- Fair Isaac to Cut About 15% of Workforce as Competition Intensifies The job cuts come as the company behind the FICO credit score faces new competitive pressure. ---- Penguin Solutions' Memory Business Soars on AI Demand. Can Its Stock Rally Again? Penguin Solutions posted fiscal fourth-quarter earnings of $1 a share, a 133% year-over-year rise, and net sales of $567 million, up 68%. ---- Google and Constellation Energy Strike a Sweeping Nuclear-Power Deal The deal is the largest-ever "uprate" project, one that squeezes more power out of existing reactors, between a nuclear-power provider and a tech company. ---- AI-Computing Startup Lambda Is Raising $4 Billion in Final Round Before Planned IPO The Nvidia-backed company is targeting an IPO in 2027. ---- Skydance's Ambitious Goals Face a Steep Road Skydance faces a tough task achieving its goals against a tough media and entertainment industry backdrop. Wall Street is taking a wait-and-see approach. ---- CD&R, McKesson to Acquire At-Home Infusion Therapy Provider for $5.8 Billion Under the agreement, CD&R will hold a majority interest of about 51% in Option Care Health, while McKesson will hold about 49%. ---- Mistral to Release New AI Model to Better Compete With U.S. Rivals Mistral launched a public preview of the model on Tuesday and plans to release its trained parameters on Oct. 27. ---- Uber to Expand Uber Eats Service with $2.3 Billion Acquisition of Catering Platform The deal gives Uber Eats access to ezCater's network of more than 140,000 restaurants in the U.S., which generate over $2.5 billion in annual gross bookings. ---- Lamb Weston Says Cost-Saving Efforts Are Paying Off The french fry maker said profit and sales exceeded expectations in the latest quarter, citing strong demand and steps the company has taken to counter rising costs. -

MRVL Targets 10x Revenue Growth in Five Years, AMD Ushers in a Second Spring for CPUs

Apple (AAPL.US) Teams Up with LG to Enter Smart Home Market: Accessories such as doorbells, thermostats, and cameras to feature LG branding

According to sources, Apple is set to expand its smart home device lineup, including doorbells, thermostats, and other accessories. These products will be developed through an unusual partnership between Apple and LG Electronics.

Dow Jones Top Company Headlines at 7 PM ET: Constellation Brands Profit Rises on Higher Beer, Spirits Sales | Google ...

Constellation Brands Profit Rises on Higher Beer, Spirits Sales Sales in Constellation's beer business, which includes Corona and Modelo, rose 5%, while its wine and spirits business saw a 17% increase in sales. ---- Google and Constellation Energy Strike a Sweeping Nuclear-Power Deal The deal is the largest-ever "uprate" project, one that squeezes more power out of existing reactors, between a nuclear-power provider and a tech company. ---- Fair Isaac to Cut About 15% of Workforce as Competition Intensifies The job cuts come as the company behind the FICO credit score faces new competitive pressure. ---- AI-Computing Startup Lambda Is Raising $4 Billion in Final Round Before Planned IPO The Nvidia-backed company is targeting an IPO in 2027. ---- Uber to Expand Uber Eats Service with $2.3 Billion Acquisition of Catering Platform The deal gives Uber Eats access to ezCater's network of more than 140,000 restaurants in the U.S., which generate over $2.5 billion in annual gross bookings. ---- Skydance's Ambitious Goals Face a Steep Road Skydance faces a tough task achieving its goals against a tough media and entertainment industry backdrop. Wall Street is taking a wait-and-see approach. ---- Becton Dickinson to Invest $19 Billion in U.S. in Exchange for Tariff Relief The move makes the needle- and medical-device maker the latest company to pledge to expand domestic manufacturing to secure an exemption from the Trump administration's tariffs. ---- Penguin Solutions' Memory Business Soars on AI Demand. Can Its Stock Rally Again? Penguin Solutions posted fiscal fourth-quarter earnings of $1 a share, a 133% year-over-year rise, and net sales of $567 million, up 68%. ---- Lamb Weston Says Cost-Saving Efforts Are Paying Off The french fry maker said profit and sales exceeded expectations in the latest quarter, citing strong demand and steps the company has taken to counter rising costs. ---- Energy Transfer to Acquire Vaquero Midstream for $2.63 Billion The deal consists of $1.95 billion in cash and about 33.3 million new

Updated Version 3 - Driven by strong demand from artificial intelligence data centers, Marvell raises its revenue forecast for 2028

In the third paragraph, CEO comments were added. Revenue for fiscal year 2031 is expected to reach $70 billion to $90 billion, surpassing market expectations. Custom chip revenue for fiscal year 2029 is projected to reach $12 billion. Executives attribute this optimistic outlook to the booming development of artificial intelligence and a decade of sustained effort. Prathik Jayaprakash/Anhata Rooprai/Max A. Cherney — Reuters, October 6 — Marvell Technology MRVL.O on Tuesday raised its revenue forecast for fiscal year 2028 to about $20 billion, above Wall Street expectations, due to surging demand for custom data center chips and a boom in AI-related spending. The Santa Clara, California-based company's stock rose about 6%, while shares of competitor Broadcom AVGO.O were up about 4%. “It took a very long time to put the company on this path and become a technology leader,” Marvell President and Chief Operating Officer Chris Koopmans said in an interview. “We have always had a track record of delivering on our commitments.” Marvell established a strategy in 2021 focusing on custom and cloud-optimized chips, specifically designed for data centers. Since then, the company has been one of the main beneficiaries of the AI infrastructure boom, and now expects to achieve $12 billion in custom chip revenue in fiscal 2029, up from its previous target of $10 billion. As technology companies develop proprietary AI processors to decrease reliance on Nvidia NVDA.O chips, Marvell’s custom chip business has become a primary growth driver. So far this year, Marvell's stock has surged more than threefold. In August, Marvell disclosed an agreement with Google's Alphabet GOOGL.O which could bring in up to $120 billion in sales through fiscal year 2033, pending certain business milestones. That same month, the company raised its full-year revenue forecast from $16.5 billion to about $18 billion. On Tuesday, Marvell forecast fiscal 2031 revenue between $70 billion and $90 billion. According to a Visible Alpha survey of four analysts, the midpoint of $80 billion exceeds Wall Street's expectation of $46.85 billion. According to London Stock Exchange Group (LSEG) data, analysts previously expected 2028 revenue to be $18.2 billion. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translation may contain errors or lack complete context, Reuters does not guarantee the accuracy of these translations and provides them solely for reader convenience. Reuters accepts no liability for any damages or losses caused by the use of automated translation functionality.)

Black Hills to Invest $1.8 Billion for Planned Google Data Center

04:49 PM EDT, 10/06/2026 (MT Newswires) -- Black Hills (BKH) said Tuesday it signed agreements to provide energy service to Google's (GOOG) planned data center in Cheyenne, Wyoming, and plans to invest $1.8 billion in new natural gas generation. The company will provide up to 590 megawatts of grid-connected energy service and manage about 2.1 gigawatts of third-party contracted resources through a privately managed microgrid. Energy service is expected to begin in late 2027 and ramp to the project's peak load in 2030. The project is expected to provide about $150 million of net income in 2030 and approximately $2.4 billion of unlevered free cash flow through 2048, net of the $1.8 billion expenditures.

Update: S&P 500, Nasdaq Hit Record Highs as Focus Shifts to Fed Minutes

04:48 PM EDT, 10/06/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) The S&P 500 and the Nasdaq Composite hit record highs on Tuesday as Treasury yields declined ahead of the Federal Reserve's meeting minutes due Wednesday. The S&P 500 added 0.6% to settle at 7,818.93, while the Nasdaq gained 0.5% to 27,599.79 to notch a back-to-back new peak. Both are up for the fourth and fifth day in a row, respectively. The Dow Jones Industrial Average rose 0.5% to 51,521.28, extending its rally into the fourth session. Barring healthcare, all sectors ended in the green, led by utilities. The 10-year Treasury yield was last down 3.2 basis points at 5.28%, while the two-year rate fell 3.8 basis points to 4.80%. The Fed will publish the minutes from its September meeting on Wednesday, offering insights into the monetary policy trajectory. Policymakers announced a 25-basis-point rate increase at the meeting, marking the first rate hike in just over three years aimed at bringing elevated inflation back to the 2% target. Markets are currently pricing in an 81% probability that the Fed will keep its benchmark rate steady later this month, according to the CME FedWatch tool. In economic news, the US trade deficit increased in August to its highest level since March 2025 as imports hit a record high, official data showed Tuesday. The trade deficit widened in part due to an artificial intelligence-induced surge in capital goods imports, Grace Zwemmer, US economist at Oxford Economics, said in a note. "Although net trade is on track to pose a sizeable drag on (third-quarter gross domestic product), roughly half of the drag will be offset by a 1.4 (percentage point) contribution to GDP growth from booming equipment spending," Zwemmer said. Brent crude oil was up 0.7% at $100.99 a barrel in Tuesday late-afternoon trade, while West Texas Intermediate rose 0.4% to $89.81. Attacks on tankers in the Strait of Hormuz have intensified this month even as oil shipments through the critical ener

Black Hills signs agreements to supply power for planned Google data center in Wyoming

Black Hills signed definitive agreements to serve Google’s planned Cheyenne, Wyoming data center through 2048, effective Sept. 30, 2026. Up to 590 MW of grid-connected service planned, starting late 2027, ramping to peak load in 2030. Plans USD 1.8 billion investment in 564 MW of new natural gas generation; returns begin contributing to earnings in 2027. Will manage about 2.1 GW of third-party contracted resources via a private microgrid; management fees start in late 2027. Project expected to generate about USD 150 million net income in 2030; targets about USD 2.4 billion unlevered free cash flow through 2048. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Black Hills Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610061610PRIMZONEFULLFEED9840884) on October 06, 2026, and is solely responsible for the information contained therein.

Alphabet schedules third-quarter 2026 earnings conference call

Alphabet will hold its third-quarter 2026 earnings conference call on Oct. 28, 2026 at 1:30 p.m. PT. Q3 earnings release is scheduled for Oct. 28, 2026 ahead of the call on abc.xyz/investor. Live webcast set for Oct. 28, 2026 at YouTube; replay available via the same link. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Alphabet Inc. published the original content used to generate this news brief on October 06, 2026, and is solely responsible for the information contained therein.

Dow Jones Top Company Headlines at 3 PM ET: Google and Constellation Energy Strike a Sweeping Nuclear-Power Deal | AI-Computing ...

Google and Constellation Energy Strike a Sweeping Nuclear-Power Deal The deal is the largest-ever "uprate" project, one that squeezes more power out of existing reactors, between a nuclear power provider and a tech company. ---- AI-Computing Startup Lambda Is Raising $4 Billion in Final Round Before Planned IPO The Nvidia-backed company is targeting an IPO in 2027. ---- Uber to Expand Uber Eats Service with $2.3 Billion Acquisition of Catering Platform The deal gives Uber Eats access to ezCater's network of more than 140,000 restaurants in the U.S., which generate over $2.5 billion in annual gross bookings. ---- Skydance Sets Ambitious Financial Targets. What It Must Overcome. Skydance faces a tough task achieving its goals against a tough media and entertainment industry backdrop. Wall Street is taking a wait-and-see approach. ---- Becton Dickinson to Invest $19 Billion in U.S. in Exchange for Tariff Relief The move makes the needle- and medical-device maker the latest company to pledge to expand domestic manufacturing to secure an exemption from the Trump administration's tariffs. ---- Lamb Weston Says Cost-Saving Efforts Are Paying Off The french fry maker said profit and sales exceeded expectations in the latest quarter, citing strong demand and steps the company has taken to counter rising costs. ---- Energy Transfer to Acquire Vaquero Midstream for $2.63 Billion The deal consists of $1.95 billion in cash and about 33.3 million newly issued Energy Transfer common units. ---- Fintech Plaid Bets on Credit Scores to Fuel Next Phase of Growth EXCLUSIVE: Plaid is doubling down on its credit-scoring business with new AI models as the company aims to chart its next era of growth with a suite of products beyond its core business. ---- CD&R, McKesson to Acquire At-Home Infusion Therapy Provider for $5.8 Billion Under the agreement, CD&R will hold a majority interest of about 51% in Option Care Health, while McKesson will hold about 49%. ---- Mistral to Release New AI Model to Better Compete With U.S. Rivals Mistral l

Top Midday Gainers

02:07 PM EDT, 10/06/2026 (MT Newswires) -- Constellation Energy (CEG) and Alphabet's (GOOG, GOOGL) Google said Tuesday they entered into a 20-year deal to add 890 megawatts of nuclear power to the PJM interconnection grid. Shares jumped nearly 15%, with intraday trading volume at 8.4 million versus a daily average of about 2.8 million. Vistra (VST) secured a conditional loan commitment of up to $4.2 billion from the US Department of Energy to fund nuclear plant upgrades and modernization in Pennsylvania and Ohio, the DOE said Monday. Shares climbed 11% as intraday trading volume rose to over 13.5 million, versus a daily average of roughly 4.7 million. The OLB Group (OLB) said it suspended its at-the-market equity offering program and its board authorized an initial repurchase of up to one million shares. Shares almost doubled, with intraday trading volume at over 632.7 million, versus a daily average of about 6.5 million. Price: 306.55, Change: +38.93, Percent Change: +14.55

Google Says Recent Domain Hijacks Didn't Compromise Its Systems

01:53 PM EDT, 10/06/2026 (MT Newswires) -- Alphabet's (GOOG, GOOGL) Google said Tuesday that a series of recent domain hijacks in the country-code top-level namespaces for Ghana, Sierra Leone and American Samoa did not compromise its systems, according to a blog post. Instead, "attackers compromised the third-party ccTLDs, putting any domain ending in .gh, .sl, or .as at risk," the company said. "Due to the nature of the attacks, we have no reason to believe the Certification Authorities (CAs) that issued the impacted certificates did anything wrong." In response, Google said it immediately blocked the use of unauthorized certificates for Google properties in Chrome via CRLSets to protect users. Price: 343.85, Change: +0.02, Percent Change: +0.01

Update: Equity Markets Rise Intraday as Yields Fall

01:36 PM EDT, 10/06/2026 (MT Newswires) -- (Updates with latest market prices and developments.) US benchmark equity indexes were higher intraday and Treasury yields declined as markets awaited the Federal Reserve's meeting minutes due Wednesday. The S&P 500 was up 0.7% at 7,831.2 after midday Tuesday. The Nasdaq Composite rose 0.6% to 27,648.6, having hit a closing record on Monday. The Dow Jones Industrial Average grew 0.6% to 51,551.4. All sectors, except healthcare, were in the green, led by utilities. Shares of retail giants Walmart (WMT) and Home Depot (HD) were among the top gainers on the Dow, both up 1.7%. Amazon (AMZN) shares were also advancing. The 10-year US Treasury yield was down 3.2 basis points at 5.28%, while the two-year rate fell 3.3 basis points to 4.80%. The Federal Reserve will publish the minutes from its September meeting on Wednesday, offering insights into the monetary policy trajectory. Policymakers approved a 25-basis-point rate increase at the meeting, marking the first rate hike in just over three years aimed at bringing elevated inflation back to the 2% target. Markets are currently pricing in an 81% probability that the Fed will keep its benchmark rate steady this month, according to the CME FedWatch tool. In economic news, the US trade deficit widened in August as a surge in imports outweighed a modest gain in exports, government data showed Tuesday. "The trade deficit widened to its largest level in August since (the first quarter of 2025), in part due to an AI-induced surge in capital goods imports," Grace Zwemmer, US economist at Oxford Economics, said in a note. "Although net trade is on track to pose a sizeable drag on (third-quarter gross domestic product), roughly half of the drag will be offset by a 1.4 (percentage point) contribution to GDP growth from booming equipment spending." West Texas Intermediate crude oil was up 0.2% at $89.62 a barrel intraday Tuesday, while Brent dropped 0.2% to $100.08. Attacks on tankers in the Strait of Hormuz have intensified this month ev

Marvell surges! Revenue forecast for 2028 raised to $20 billions, driven by strong data center demand

Marvell expects total revenue to reach $20 billion for fiscal year 2028, higher than the previously stated $18 billion and exceeding Wall Street’s estimate of $18.2 billion. The company also expects fiscal year 2031 revenue to reach between $70 billion and $90 billion, far surpassing Wall Street’s forecast of $46.85 billion. Following the announcement, Marvell's share price rose by nearly 9% at one point.

Sector Update: Energy

01:11 PM EDT, 10/06/2026 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each adding about 0.8%. The Philadelphia Oil Service Sector Index was decreasing 0.9%, and the Dow Jones US Utilities Index rose 2.6%. Front-month West Texas Intermediate crude oil was fractionally lower at $89.39 a barrel, and the global benchmark Brent crude contract shed 0.5% to $99.86 a barrel. Henry Hub natural gas futures rose 1.3% to $3.11 per 1 million BTU. In corporate news, Alphabet's (GOOGL) Google has entered into a 20-year deal with Constellation Energy (CEG) to add 890 megawatts of nuclear power to the PJM interconnection grid, the companies said Tuesday. Constellation shares jumped 14%.

Google launches Embedding Gemma2 multimodal embedding model

Google (GOOG.US): Launches Embedding Gemma2, a multimodal embedding model.

Top Midday Stories: Google Strikes 20-Year Nuclear Power Deal With Constellation; Marvell Raises Revenue Guidance for 2026-27

11:45 AM EDT, 10/06/2026 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Tuesday, as oil prices and Treasury yields were down. In company news, Alphabet's (GOOG, GOOGL) Google has entered into a 20-year deal with Constellation Energy (CEG) to add 890 megawatts of nuclear power to the PJM interconnection grid, the companies said Tuesday. The agreement will enable over $4.3 billion in investments in new equipment and technology at 11 Constellation nuclear facilities in Illinois, Pennsylvania and New Jersey, the companies said. Alphabet's Class C and Class A shares were up 0.3% and 0.6%, respectively, around midday. Constellation shares were up 13.7%. Marvell Technology (MRVL) now expects to generate revenue of $12 billion in 2026 and $18 billion in 2027, up from its previous guidance of a combined $20 billion over that period, Chairman and Chief Executive Matthew Murphy said Tuesday at a conference, according to a transcript. Marvell shares were up 7.0%. McKesson (MCK) and CD&R have entered into a definitive agreement to acquire Option Care Health (OPCH) for $32.05 per share, reflecting a total enterprise value of about $5.8 billion, the companies said Tuesday. After the deal closes, which is expected to occur in H1 2027, CD&R will hold a majority interest of 51% in Option Care Health, while McKesson will invest $1.4 billion to hold the remaining 49%, the companies said. McKesson shares were up 0.1%, while Option Care shares were up 32.7%. Uber Technologies (UBER) has agreed to acquire ezCater for $2.3 billion in cash, the ride-hailing company said Tuesday. The deal, expected to close in the coming months, will expand Uber's catering orders and give restaurants access to larger orders and more customers, the company said. Uber shares were down 0.4%. Energy Transfer (ET) said Tuesday it has entered into a definitive agreement to acquire Vaquero Midstream in a bolt-on deal valued at about $2.63 billion. The deal consideration will consist of $1.95 billion in cash and about 33.3 mill

Google, Constellation Energy Strike 3.59-GW Power Deal

11:18 AM EDT, 10/06/2026 (MT Newswires) -- Alphabet's (GOOG, GOOGL) Google and Constellation Energy (CEG) said Tuesday they are collaborating on 3,590 megawatts of power as part of a long-term energy strategy to meet demand and improve grid reliability. The partnership includes a $4.3 billion investment by Constellation in new equipment and technology at its 11 nuclear units in Illinois, Pennsylvania, and New Jersey, generation of 890 megawatts of new nuclear energy, and a 20-year power purchase deal, according to the companies. The new capacity will be added to the PJM Interconnection grid while sustaining about 4,400 existing jobs and creating nearly 7,200 new construction jobs, the companies added. PJM is a regional transmission organization that coordinates wholesale electricity in all or parts of 13 states and the District of Columbia. Additionally, Google agreed to a 15-year energy supply deal for another 2,700 megawatts of power from Constellation in PJM's fleet. Constellation's shares jumped more than 13% in Tuesday trading, reducing their year-to-date loss to about 14%. Alphabet's class A and C shares were up about 0.3% each. "We're committed to meeting our growth responsibly by actively investing in clean, reliable power that brings new capacity to our nation's grids," Google's global head of energy and power Amanda Peterson Corio said in a statement. "This long-term clean energy collaboration with Google can serve as a model for how technology companies and the energy industry can work together to responsibly develop the digital economy and invest in our nation's energy infrastructure in a way that delivers grid-wide benefits for all, funded by private entities," Constellation Chief Executive Joe Dominguez said. The deal addresses PJM's "bring your own power" proposal, which requires data centers to either bring or contract their own new generation capacity or face shutoff or reduction during peak demand, the companies said. The collaboration mirrors previous landmark agreements between tech giants and

Dow Jones Top Energy Headlines at 11 AM ET: Brent Futures Fall More than 2% as Middle East Exports Recover, Shipping Risks Persist | Energy ...

Brent Futures Fall More than 2% as Middle East Exports Recover, Shipping Risks Persist Prices fell Tuesday as traders assessed recovering crude exports against fresh shipping incidents around Hormuz and increased tensions around the Red Sea. ---- Energy Transfer to Acquire Vaquero Midstream for $2.63 Billion The deal consists of $1.95 billion in cash and about 33.3 million newly issued Energy Transfer common units. ---- Constellation Energy Seals Google Nuclear Deal. It Can Keep Powering the Stock Higher. Big Tech is going nuclear as Alphabet and others scramble for enough power for their AI data centers. ---- Exporters to Get Extra Year for EU's Methane Emission Rules, Von Der Leyen Says Policymakers are racing to shield industry from the high cost of fuel triggered by conflicts in the Middle East and Ukraine. ---- Energy & Utilities Roundup: Market Talk Find insight on SK Innovation, YTL Power International, Cenovus Energy and more in the latest Market Talks covering Energy and Utilities. ---- Oil Is Flowing From Hormuz Again-Just Not the Kind the World Needs Most The scramble is on for diesel, while damaged refineries and tight fuel supplies keep prices elevated around the world. ---- Aramco CEO Says Oil Inventories Could Take Two Years to Rebuild Amin Nasser said the global supply cushion was scarily thin, with estimates less than 6 billion barrels of commercial inventories remain-and most of that wasn't practically available. ---- Saudi Arabia Slashes Crude Prices for Asia as Exports Recover Saudi Aramco lowered the official selling price for November shipments of its Arab Light crude to Asia by $3 a barrel to a discount of $5 a barrel to the Oman/Dubai benchmark. ---- Centalion, Fresh From Rebrand, Does Deal for U.S. Gas Fields The trading firm formerly known as Gunvor is poised to become a major player in the Haynesville basin with $1.5 billion deal. ---- LNG's Golden Age Could Last Longer Than Expected. These Stocks Benefit Most. Companies that export liquefied natural gas have been minting profits this y

Updated version 2 - Driven by strong demand from artificial intelligence data centers, Marvell raises its revenue forecast for 2028.

The fiscal year 2028 revenue forecast has been raised from $18 billion to approximately $20 billion. Revenue for fiscal year 2031 is now expected to reach between $70 billion and $90 billion, exceeding previous expectations. If targets are met, the deal signed with Google in August could generate up to $120 billion in revenue before fiscal year 2033. The full article provides detailed information and background. Reuters, October 6 – On Tuesday, Marvell Technology (MRVL.O) raised its fiscal 2028 revenue forecast to around $20 billion, surpassing Wall Street's expectations, thanks to growing demand for its custom data center chips and surging artificial intelligence (AI) spending. The company's shares rose about 7%, while competitor Broadcom (AVGO.O) saw its stock rise about 4% in early trading. Marvell had outlined a strategy focused on custom and cloud-optimized chips (specially designed for data centers) at its 2021 Investor Day. Since then, the company has become one of the main beneficiaries of the AI infrastructure boom. As tech firms develop proprietary AI processors to reduce reliance on Nvidia (NVDA.O) chips, Marvell’s custom chip business has become a primary growth driver. This year, Marvell's stock price has more than tripled. In August, Marvell disclosed an agreement with Alphabet's Google (GOOGL.O) which, if certain milestones are achieved, could generate up to $120 billion in sales by fiscal year 2033. That same month, the company raised its full-year revenue forecast from $16.5 billion to around $18 billion. On Tuesday, Marvell forecasted fiscal year 2031 revenue to be between $70 billion and $90 billion. According to Visible Alpha’s survey of four analysts, the midpoint of that range—$80 billion—exceeds Wall Street’s previous expectation of $46.85 billion. According to data compiled by the London Stock Exchange Group (LSEG), analysts had previously expected 2028 revenue to be $18.2 billion. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Because machine translation may contain errors or lack the required context, Reuters does not guarantee the accuracy of automated translated text and provides it solely for readers’ convenience. Reuters is not liable for any damage or loss arising from the use of automated translation.)

Market Chatter: Alphabet's Google Faces UK Class Action Over Play Store Fees

10:02 AM EDT, 10/06/2026 (MT Newswires) -- Alphabet's (GOOG, GOOGL) Google faces a potential 1.2 billion British pounds ($1.59 billion) payout claim in the UK over allegations that its Play Store fees resulted in higher prices for about 20 million consumers, Bloomberg reported Tuesday. Lawyers representing the affected consumers told the Competition Appeal Tribunal in London that Google's 30% commission on digital purchases breached competition law, the report said. Google has denied engaging in anti-competitive conduct, according to the report. Google did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 341.89, Change: -1.94, Percent Change: -0.56

Google faces £1.2 billion collective lawsuit in UK, accused of excessive Play Store fees

Google has been accused of charging excessive fees to Android app developers over the past decade, resulting in inflated prices for goods and services on the Play Store and potentially affecting about 20 million consumers in the UK. During a class action lawsuit hearing at the London Competition Appeal Tribunal on Tuesday, lawyers representing consumers argued that Google’s practice of charging a 30% commission on digital purchases violated competition law. Consumers impacted since 2015 could ultimately receive compensation totaling approximately 1.6 billion dollars (£1.2 billion). In documents submitted to the court, the lawyers stated: "After escaping competitive constraints, Google used its market power to charge unfair prices, harming user interests and reaping unusually substantial returns for nearly 20 years." Google has consistently denied any anti-competitive behavior.