Post-Bell｜Nasdaq Slides 1.32%; Amazon, Alphabet, Oracle Sink Around 5%; Corning Gains Nearly 8%; SMCI Jumps 16%; Apogee Therapeutics Rockets 47%

01 Stock Market

The U.S. major indexes closed as follows: Dow Jones up 0.29% at 51,712.71; S&P 500 down 0.37% at 7,472.79; NASDAQ declined 1.32% at 26,166.60. A late-session rebound in selected industrial and energy names helped the Dow finish higher, while continued selling in mega-cap technology weighed on the broader benchmarks, leaving the growth-heavy NASDAQ deep in the red.

Semiconductor strength and leveraged ETFs topped the day’s unusual-move roster. Memory leader Micron Technology (MU) surged 6.82% to $1,211.38, while fellow chip heavyweight Intel (INTC) climbed 5.19% to $140.94. Bullish sentiment spilled into the leveraged Direxion Daily Semiconductors Bull 3× (SOXL), up 7.69% at $300.77, whereas its bearish counterpart Direxion Daily Semiconductors Bear 3× (SOXS) fell 8.08% to $3.30. Server supplier SUPER MICRO COMPUTER (SMCI) jumped 15.66% to $35.46, and the Roundhill Memory ETF (DRAM) advanced 5.23% to $80.72. On the downside, data-analytics group Palantir (PLTR) slid 6.98% to $119.50, while Alphabet Class C (GOOG) and Class A (GOOGL) shares declined 5.08% and 4.99% respectively, closing near $348.78-$349.68.

Mega-cap moves were mixed as investors rotated within the tech complex. Electric-vehicle bellwether Tesla (TSLA) added 1.14% to $405.05, whereas Microsoft (MSFT) fell 3.18% to $367.34 and social-media giant Meta Platforms (META) retreated 2.32% to $563.85. Consumer-tech icon Apple (AAPL) eased 0.34% to $297.01, while streaming peer Netflix (NFLX) declined 5.82% at $72.88. Chipmaker NVIDIA (NVDA) slipped 0.97% to $208.65, but rival Advanced Micro Devices (AMD) firmed 2.65% to $551.63. Storage specialist SanDisk (SNDK) rallied 4.07% to $2,273.73, contrasting with Western Digital (WDC), which fell 1.82% to $732.62.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.51%.

USD/CNH rose 0.16%, at 6.83; USD/HKD fell 0.00%, at 7.84.

U.S. Dollar Index fell 0.01%, at 100.98.

WTI crude futures rose 0.50%, at 74.23 USD/bbl; COMEX gold futures rose 0.19%, at 4,210.50 USD/oz.

03 Top News

1. AbbVie Agrees To Buy Apogee Therapeutics For $10.9 B In Cash. The boards of both companies unanimously approved a $135.11-per-share offer, a roughly 49% premium to Apogee’s prior close. The deal, AbbVie’s largest since acquiring Allergan, is expected to close in the third quarter pending regulatory approvals.

2. Micron Seals Multi-Year Memory-Supply Pact With Anthropic. The agreement covers high-bandwidth memory, DRAM and SSD products tied to Anthropic’s expanding AI compute needs. Micron also invested in Anthropic’s latest funding round and has begun using the Claude model internally, boosting Micron shares by more than 5%.

3. SpaceX Launches Debut Investment-Grade Bond Sale Targeting At Least $20 B. The senior unsecured notes will repay a bridge loan and fund future projects, marking the first large debt raise after the company’s record IPO. All three major rating agencies assigned investment-grade ratings, paving the way for lower borrowing costs.

4. SpaceX Strikes $6.3 B Compute Deal With Reflection AI. The contract grants the startup access to SpaceX’s Colossus infrastructure powered by NVIDIA GB300 chips, with payments of $150 M per month beginning next quarter. Either party may cancel after three months with 90-day notice.

5. Google Loses Gemini Co-Lead Noam Shazeer To OpenAI. The veteran engineer, co-author of the seminal Transformer paper, confirmed his departure to join competitor OpenAI. Alphabet shares slid more than 4% amid concerns over talent retention in the intensifying AI race.

6. Intel And United Microelectronics Partner On Advanced 3 nm And 12 nm Nodes. The collaboration installs new production lines in Intel’s Arizona fabs, giving UMC cutting-edge access without heavy capital spending. UMC’s stock leapt over 14%, while Intel gained more than 2% on expectations of shared capacity expansion.

7. White House Weighs Giving Public An Equity Stake In Major AI Firms. President Trump is reviewing proposals ranging from stock-based taxes to equity swaps in exchange for federal funding, aiming to ensure Americans benefit from AI profits. Legislators debate mechanisms such as mandatory 50% stakes or public wealth funds.

8. AeroVironment Restates Earnings, Adding $89.4 M Goodwill Impairment. A corrected impairment test worsened the drone maker’s operating and net losses, and management disclosed material weaknesses in internal controls. Shares fell more than 10% as investors reassessed financial reliability.

9. Dell Advances Over 8% On ‘AI Factory’ Supercomputer Initiative With NVIDIA. The project targets next-generation high-performance computing and AI workloads, reinforcing Dell’s strategy to integrate advanced GPUs into turnkey data-center offerings. Analysts view the move as a catalyst for long-term services revenue.

10. SanDisk Hits Record High After Revealing 3D NAND-GPU Integration Patent. The company showcased technology to embed flash memory beneath GPUs to ease HBM shortages, and Bank of America raised its price target to $2,100. Shares gained more than 7%, signaling investor confidence in future pricing power.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.