Nucor CEO Leon Topalian has forecasted a promising future for American-made steel following the imposition of tariffs on Mexican and Canadian transshipments. This prediction comes amidst a wave of significant developments across various sectors. In another major report, Starbucks announced earnings and revenue that surpassed expectations after Tuesday's market close, leading to an early 3% jump in shares on Wednesday. Meanwhile, T-Mobile, Apple, and SpaceX are forging a collaboration to bring Starlink support to iPhones, a move that could revolutionize mobile connectivity.
In the tech world, Alibaba has claimed the development of a faster solution than DeepSeek, stirring interest within the artificial intelligence community. However, controversy looms as OpenAI and Microsoft investigate allegations against a group linked to the Chinese AI startup DeepSeek for unauthorized use of ChatGPT data. ASML Holding also made headlines by reporting better-than-expected quarterly earnings and revenue, with its promotion of AI democratization through DeepSeek gaining traction.
The energy sector saw President Donald Trump's ambiguous stance on renewable energy and solar tax credits, despite his known support for solar technology. This comes as Nextracker shares soared over 20% following a quarterly beat and increased outlook, earning an upgrade from Barclays for its flawless execution.
In other corporate developments, Applied Materials experienced an upward drive due to strong financial numbers, while Danaher shares fell approximately 6% early Wednesday after missing earnings projections despite beating revenue forecasts. KeyBanc also raised its price target for Meta to $750 per share from $700, anticipating strong post-bell figures.