TradingKey

• Ferguson will cancel its London Stock Exchange secondary listing by July 2026. • Non-residential demand growth helped the company reiterate its full-year 2026 financial guidance. • Major institutional investors increased their stakes, signaling confidence in the company's long-term strategy.

• GE Aerospace declared a $0.47 quarterly dividend payable on July 27, 2026. • High demand for engine maintenance drives growth within a $170 billion service backlog. • Global supply chain bottlenecks and component shortages create significant near-term operational execution risks.

• Caterpillar shares reached record highs driven by demand for AI-related power infrastructure projects. • The company reported record-high order backlogs of approximately sixty-three billion dollars. • Caterpillar increased its quarterly dividend to one dollar and sixty-three cents per share.

• AbbVie agreed to acquire Apogee Therapeutics for approximately 10.9 billion dollars in cash. • The European Commission approved Skyrizi for pediatric patients with moderate-to-severe plaque psoriasis. • AbbVie declared a quarterly cash dividend of 1.73 dollars per share for shareholders.

• KLA Corporation stock rose following investor demand for semiconductor process control technology. • Yole Group projects the metrology and inspection equipment market to reach $25 billion. • Management raised the 2026 revenue outlook for advanced packaging process control products.

TradingKey - On Thursday Eastern Time, May inflation data released by the U.S. Bureau of Economic Analysis (BEA) showed that the May PCE price index rose 4.1% year-on-year, in line with market expectations and higher than the previous reading of 3.8%. The U.S. May PCE month-on-month rate was 0.4%, lower than the market expectation of 0.50% and matching the previous 0.40%. The core PCE price index, which excludes food and energy, rose 3.4% year-on-year, in line with market expectations and higher than the previous 3.30%. The core PCE month-on-month rate was 0.3%, meeting market expectations, though the previous value was revised from 0.20% to 0.3%. Impacted by the Middle East conflict pushing up energy prices, U.S. inflation climbed further in May, with the annual PCE rate breaching the 4% threshold for the first time in three years, marking the first occurrence since April 2023. Although the monthly growth rates were broadly in line with Wall Street expectations, the clear rebound in the year-on-year rate indicates that the fight against inflation is not yet over.

• Intel stock closed lower following early session volatility and profit-taking in the semiconductor sector. • Rising interest rate concerns and macroeconomic headwinds increased pressure on high-beta technology stocks. • Analysts noted near-term financial strain, including capital drain and ongoing market-share challenges.

• Micron reported third-quarter revenue of $41.46 billion, significantly exceeding analyst consensus expectations. • Micron secured $100 billion in long-term revenue through sixteen new strategic customer agreements. • Fourth-quarter guidance projects revenue of $50 billion with gross margins expanding to 86%.

• Applied Materials unveiled new chipmaking systems for advanced three-dimensional architectures. • Multiple financial institutions raised price targets citing strong chip equipment demand. • The company reported record-breaking gross margins and increased global manufacturing capacity.

• NVIDIA shares declined due to semiconductor sector headwinds and macroeconomic inflation concerns. • Insider selling and analyst price target adjustments pressured NVIDIA’s market valuation. • Geopolitical restrictions and increasing client self-reliance in chip development impact long-term outlook.

• Apple increased iPad and MacBook prices due to rising semiconductor and storage costs. • Investors expressed concerns regarding Apple's vague artificial intelligence strategy and delayed feature rollouts. • New UK antitrust litigation creates potential risk for Apple's high-margin services segment.

TradingKey - During Thursday's US pre-market session, IBM shares surged over 6% at one point. The company announced a milestone breakthrough in semiconductor technology, officially unveiling the world's first manufacturable sub-1nm chip technology.

TradingKey - Micron stock surged after reporting record Q3 revenue of $41.46B, up 346% YoY, with 84.6% gross margins and Q4 guidance for $50B revenue. HBM4 production and AI demand continue driving growth.

TradingKey - On June 25, Eastern Time, Germany's Merck Group announced that it will acquire US life sciences company Bio-Techne (TECH) for $73 per share in an all-cash transaction, representing an enterprise value of approximately $11.3 billion.

TradingKey - Sandisk stock trades near $2,151 after becoming the S&P 500's best-performing stock in 2026. Micron's record Q3 results reinforce the AI memory shortage, supporting SNDK's strong Q4 outlook and long-term NAND growth story.

TradingKey - On June 24, Eastern Time, at Nvidia’s (NVDA) annual shareholder meeting, CEO Jensen Huang set the tone for the next phase of the AI industry’s development in a two-hour speech. He declared the official arrival of the "era of useful AI," stating that agents will become the core engine driving computing power demand for decades to come, and characterized this computing paradigm shift as the largest industry reset in 60 years.

TradingKey - On June 25 ET, in U.S. premarket trading, the three major stock index futures rose in unison. As of press time, Dow futures were up 0.24%, Nasdaq 100 futures climbed 2.16%, and S&P 500 futures gained 0.73%.

TradingKey - On June 25, Eastern Time, senior Iraqi oil officials pressured OPEC, demanding a significant increase in the country's production quota, warning that they would otherwise be "forced to consider all available options." Sources revealed that while Iraqi officials had seriously considered withdrawing from OPEC, the current plan is to remain within the organization and push for a higher quota.

• Cocoa futures reached five-month highs amid supply disruptions in West Africa. • Excessive rainfall and disease risk threaten current crop yields and logistics. • El Niño weather patterns and structural production headwinds fuel long-term supply concerns.

• US natural gas futures rose due to higher cooling demand and tighter supply fundamentals. • Markets expect smaller-than-average weekly inventory injections of approximately 67 billion cubic feet. • June LNG feedgas flows increased to 17.3 Bcf/day, supporting higher global export demand.