Autodesk Stock Surges Amid Growing AI-Related Demand
56 minutes ago
Autodesk (ADSK) shares surged Friday after the company posted better-than-expected results and raised its guidance on demand for its design software for artificial intelligence data centers.
Autodesk late Thursday reported fiscal 2026 second-quarter adjusted earnings per share (EPS) of $2.62, with revenue rising 17% year-over-year to $1.76 billion. Both exceeded forecasts. Billings jumped 36% to $1.68 billion, also more than estimates.
Design segment product sales increased 17% to $1.47 billion, and Make unit product sales were 20% higher to $194 million.
Sales of its Architecture, Engineering, Construction, and Operations (AECO) software grew 23% to $878 million, and its popular AutoCad and AutoCad LT software brought in $440 million, up 13%.
CFO Janesh Moorjani said the company “saw strength in AECO, where our customers are benefiting from sustained investment in data centers, infrastructure, and industrial buildings, which is more than offsetting softness in commercial.”
Autodesk now sees full-year adjusted EPS of $9.80 to $9.98, revenue of $7.025 billion to $7.075 billion, and billings of $7.355 billion to $7.445. Previously, the company’s guidance was for adjusted EPS of $9.50 to $9.73, revenue of $6.925 billion to $6.995 billion, and billings of $7.160 billion to $7.310 billion.
Autodesk shares were up 8% recently, pacing S&P 500 gainers. The stock has moved back into positive territory for 2025.
Caterpillar Leads Dow Decliners as Company Warns on Tariffs
1 hr 28 min ago
Caterpillar (CAT) shares slid Friday, a day after the maker of big farm and construction equipment warned tariffs would negatively impact its results by a greater amount the rest of the year.
The company wrote in a regulatory filing that it expects tariffs to cost about $500 million to $600 million in the third quarter and approximately $1.5 to $1.8 billion for 2025. Earlier this month, it said it expected 2025 net incremental tariffs around $1.3 billion to $1.5 billion.
In addition, Caterpillar sees full-year adjusted operating margin to be near the bottom of the target range. In its second-quarter earnings call Aug. 5, the company said that excluding tariffs, it anticipated adjusted operating margin to be in the top half of its target range. However, it doesn’t see any change in its 2025 sales and revenue outlook that was given then.
The company explained that it was providing this update as “several additional clarifications and additional tariffs have been announced” since the second quarter. It noted that further updates would come during the Q3 report and earnings call on Oct. 29.
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Caterpillar shares were down 4.5% recently, leading decliners in the Dow Jones Industrial Average. Despite the decline, the stock is up about 15% since the start of the year.
Marvell Levels to Watch as Stock Plunges After Earnings
2 hr 21 min ago
Marvell Technology (MRVL) shares plunged Friday after the chip designer issued a sales forecast below Wall Street’s expectations.
The company said it expects third-quarter revenue of $2.06 billion, give or take 5%, with that figure slightly below analysts’ estimates. CEO Matthew Murphy said in the company’s earnings call that he expects data center sales to be flat on a sequential basis, though he added that he anticipates stronger performance in the fourth quarter.
Shares of Marvell were down 17% at around $64 in recent trading, and have lost more than 40% of their value since the start of the year amid concerns the company could struggle to live up to investors’ high expectations of AI-driven upside. Uncertainty about U.S. chip restrictions on China sales, which represent a large portion of Marvell’s revenue, has also weighed on sentiment.
Marvell shares earlier this month broke down below an uptrend line extending back to the April low before staging a retest of the indicator leading into the company’s quarterly results. Although the recent move saw the relative strength index cross back into bullish territory, selling resumed Friday following the company’s light outlook.
The stock has also failed to reclaim the closely watched 200-day moving average after gapping below the indicator in March, indicating the bears remain in control of the longer-term price action.
Investors should watch critical support levels on Marvell’s chart around $62, $56 and $50, while also monitoring an overhead area near $78.
Read the full technical analysis piece here.
Dell Shares Tumble on Soft Profit Outlook
3 hours ago
Dell Technologies (DELL) shares sank Friday, a day after it projected soft current-quarter profit.
The Round Rock, Texas-based maker of personal computers and servers sees third-quarter adjusted earnings per share (EPS) of $2.45 at the midpoint, below the $2.49 expected by analysts surveyed by Visible Alpha.
Dell shares, which entered Friday up 16% this year, were down 10% in recent trading.
Dell’s forecasts for Q3 revenue and full-year profit and revenue came in above Visible Alpha consensus. Its second-quarter adjusted EPS of $2.32 on revenue that surged 19% year-over-year to a record $29.78 billion also topped estimates, which the company attributed to strong AI demand.
“We’ve now shipped $10 billion of AI solutions in the first half of FY26, surpassing all shipments in FY25. This helped deliver another record revenue quarter in our Servers and Networking business, which grew 69%,” COO Jeff Clarke said. “Demand for our AI solutions continues to be exceptional, and we’re raising our AI server shipment guidance for FY26 to $20 billion” from $15 billion-plus.
Citi analysts said in a note Friday that Dell’s Q2 PC segment sales were below consensus forecasts “by 3% or roughly $357.0 million,” and that it “likely lost share in PCs.” It added that the increase in its AI server shipment guidance is good news for Nvidia (NVDA), which makes up 88% of its sales, and Micron Technology (MU), at 17%. “Dell expects the traditional server business to grow in the 2nd half but below their prior expectations from the beginning of the year,” the analysts wrote.
Affirm Stock Soars After Strong Earnings
4 hours ago
Affirm (AFRM) swung to a quarterly profit with better-than-estimated results, as the buy now, pay later provider posted surging gross merchandise volume.
The buoyant numbers boosted Affirm shares, which entered Friday up more than 30% this year. The stock jumped more than 20% in early trading.
The company reported fiscal fourth-quarter earnings per share of $0.20, up from a $0.14 loss per share the previous year, on revenue of $876.42 million. Analysts polled by Visible Alpha expected $0.11 per share earnings and $837.44 million in revenue, respectively. The BNPL firm reported fourth-quarter operating income of $58.06 million, versus an operating loss in the same period last year of $73.46 million.
Affirm CEO Max Levchin said in a letter to shareholders that during the 2025 fiscal year, the company expanded its merchant network, increased transaction frequency by direct-to-consumer products, and focused on “excellent credit performance.”
“This consistent execution led Affirm to achieve operating income profitability in FQ4’25 – right on the schedule we committed to a year ago,” Levchin said.=
Affirm forecast first-quarter fiscal 2026 revenue in the range of $855 million to $885 million, with the midpoint below Visible Alpha estimates of $882.38 million, and GMV between $10.10 billion and $10.40 billion. It said it expects full-year fiscal 2026 gross merchandise volume to exceed $46 billion.
Major Index Futures Point to Lower Open
5 hr 27 min ago
Futures tied to the Dow Jones Industrial Average were down 0.3%.
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S&P 500 futures also fell 0.3%.
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Nasdaq 100 futures declined 0.5%.
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