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AI hardware stocks surge 7% as NASDAQ rebounds from tech selloff
Edgen Stock·Jul 21 2026, 17:15Share to
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[1] Super Micro Jumps 6%, Dell Climbs 7%, HPE Rises 5% as AI Hardware Rebounds With the NASDAQ (https://247wallst.com/investing/2026/07/21/su ...)[2] Super Micro Computer (SMCI) declines more than market: Some information for investors (https://www.msn.com/en-us/money/top-stocks/su ...)[3] Salesforce vs. Dell Technologies: Which High-Growth Tech Stock Is a Better Buy... (https://finance.yahoo.com/technology/articles ...)[4] Got $1,000 to Invest? Here Are 2 Magnificent Artificial Intelligence (AI) Stocks Down 12% to 30% to Buy Hand Over Fist Before July Is Over (https://www.fool.com/investing/2026/07/20/got ...)[5] 3 Not-So-Obvious AI Stocks to Buy in July (https://finance.yahoo.com/technology/ai/artic ...)
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Jul 22 2026, 21:39
Penske Corp and Mitsui bid $3.8 billion to take Penske Automotive private
Penske Automotive Group Inc. received an unsolicited, preliminary and non-binding proposal from Penske Corp and Mitsui & Co. to take the auto dealership chain private for $210 per share in cash, valuing the company at about $3.8 billion. "The proposal is subject to a number of conditions, including the negotiation and execution of definitive documentation and the receipt of financing," Penske Automotive said in a statement Wednesday. The company's board said it would evaluate the proposal in consultation with its financial and legal advisors. Penske Corp, the private holding company of former race car driver Roger Penske, owns more than 52% of Penske Automotive Group, while Mitsui holds over 20%. The Japanese trading house said the total estimated acquisition cost for the two companies would come to $3.8 billion. Shares of Penske Automotive rose more than 11% in morning trading Wednesday following the announcement. The proposal comes as publicly traded auto dealership groups attract investor interest for their recurring service revenue streams and ongoing industry consolidation. Penske Automotive operates dealerships across the US, UK, Canada, Germany, Italy and Japan, and also retails commercial vehicles, engines and power systems primarily in Australia and New Zealand. The company was founded as United Automotive Group in 1990 and came under Penske Corp's control nine years later. Mitsui made its initial investment in 2001, and the company was renamed Penske Automotive Group in 2007. This article is for informational purposes only and does not constitute investment advice.
Jul 22 2026, 21:37
S&P 500 slips 0.1%, Nasdaq drops 0.6% ahead of Big Tech earnings
**US stocks closed mostly lower Wednesday as caution ahead of earnings from Alphabet and Tesla and rising oil prices on Middle East tensions outweighed a two-day rebound.** The S&P 500 fell 0.1% to 7,499 and the Nasdaq Composite dropped 0.6% to 25,691 as investors pared positions before earnings from Alphabet and Tesla after the closing bell. The Dow Jones Industrial Average slipped 6 points to 52,219, little changed on the session. "The Momo guys ran out of stock to sell, so the pressure was off," said Kenny Polcari, market strategist at Slatestone Wealth, referring to Tuesday's rebound. "Ten straight days of US strikes and continued attacks on military targets have kept a geopolitical premium firmly embedded in oil prices, and that will become more of an issue next month and the months after." Only four of 11 S&P 500 sectors finished in the red, with Information Technology, Communication Services, Consumer Discretionary and Financials leading the declines. Energy was the top gainer, rising nearly 1%, as Brent crude settled 3.1% higher at $91.63 a barrel. Super Micro Computer surged about 20% after reporting stronger-than-expected preliminary gross margins and a record order backlog, while AT&T gained 4.3% on better-than-forecast quarterly earnings. On the downside, GE Vernova fell 6.4% after widening losses in its wind business overshadowed a revenue beat, and Pegasystems dropped about 15% on a second-quarter earnings miss. The stakes are high for Alphabet and Tesla, whose results will test whether the AI-driven rally has room to run after weeks of selling in semiconductor stocks. Options pricing implies a swing of as much as 6% for Alphabet and 7% for Tesla by week's end, according to recent options market data. A miss could deepen the rotation out of tech, while a beat may validate the spending that has pushed combined capital expenditure for the Magnificent Seven to record levels. Trading was uneven throughout the session as investors locked in profits from Tuesday's rebound, when the S&P 500 gained 0.9% and the Nasdaq climbed 1.3%. The VanEck Semiconductor ETF had surged 4.5% on Tuesday, but chip names gave back some of those gains Wednesday, with profit-taking in names like AppLovin, SanDisk and Lam Research. Semiconductor stocks remain about 25% below their early June peak after hedge funds aggressively unwound crowded AI trades in recent weeks. **Oil's Ascent Complicates the Inflation Outlook** The sustained rise in crude prices has revived concerns that inflation could prove more persistent, complicating the Federal Reserve's policy outlook. Brent crude at $91.63 is up 25% from pre-conflict levels and more than 30% from its July 2 low, fueled by 10 consecutive nights of US strikes on Iranian targets. The Strait of Hormuz has seen traffic collapse to below 45% of pre-war levels, and a Houthi maritime embargo on Saudi Arabia threatens an additional 2.5 million barrels a day via the Red Sea. Gold rose 1.7% to $4,079 an ounce, while copper climbed 3% to $6.56 a pound on signs of tightening supply in China. Alphabet is scheduled to report after the close, with Bank of America projecting revenue of $102.1 billion and earnings of $8.38 per share — well above the consensus estimate of $2.90, largely due to an estimated $80 billion boost from the revaluation of its Anthropic stake. Capital spending remains the key variable, with Alphabet already guiding to $180 billion to $190 billion in full-year capex. Tesla's report will be scrutinized for updates on autonomous driving, robotics and vehicle demand, with the EV maker having set aside a $25 billion capital budget for 2026 to fund AI infrastructure and Optimus development. This article is for informational purposes only and does not constitute investment advice.
Jul 22 2026, 21:27
US equity financing tops $300B as AI giants tap capital markets
**US companies have raised more than $300 billion through stock sales this year, nearly 50 percent above Wall Street's initial forecast, as Alphabet and SpaceX lead an AI-driven fundraising wave reshaping capital markets.** US companies have raised more than $300 billion through stock sales in 2026, surpassing Wall Street's initial $200 billion to $225 billion forecast, as Alphabet and SpaceX lead an AI-driven fundraising wave reshaping capital markets. "The sheer volume reflects how AI infrastructure demands are outstripping internal cash flows even at the largest technology companies," a capital markets strategist told The Information. "Equity issuance is becoming a structural feature, not a cyclical one." SpaceX's $75 billion initial public offering at a $1.75 trillion valuation — priced at $135 per share — represents the largest single equity raise of the year. The company's 2025 capital expenditure of $207 billion, with about 60 percent directed toward artificial intelligence, will fund AI computing capacity and satellite network expansion. Alphabet has opened an $80 billion to $90 billion equity refinancing program through common stock sales, mandatory convertible preferred shares and an at-the-market issuance plan, responding to annual AI capital spending of $180 billion to $190 billion. The $300 billion year-to-date total already exceeds the full-year equity issuance of any year since 2021, according to data compiled by The Information. Additional supply is building: OpenAI and Anthropic, both preparing public listings, could add $70 billion in AI-related issuance. OpenAI has signaled it may delay its IPO until 2027, with Chief Executive Officer Sam Altman targeting a $1 trillion valuation. Anthropic has filed confidentially for an IPO, with a potential listing as early as October. The backlog of large technology issuances means the full-year total will almost certainly rise further. **Two Forces, One Market** The flood of equity supply creates a dual dynamic for investors. On one side, the absorption of more than $300 billion in new stock drains liquidity from secondary markets, particularly for sectors outside artificial intelligence. Non-AI equities face sustained pressure as institutional capital rotates toward new issuances and the companies that underwrite them. On the other side, the capital raised converts directly into AI infrastructure spending — data center construction, graphics processing unit procurement and network buildout — providing order pipelines for hardware suppliers such as Nvidia, semiconductor companies and energy providers. The last time US equity issuance approached this scale was during the SPAC boom of 2021, when special-purpose acquisition companies raised more than $160 billion. That cycle ended with many SPACs trading below their trust values. The current wave differs in that the capital is flowing to established operating companies with identifiable revenue from AI products, rather than blank-check vehicles with speculative merger targets. **What Comes Next** The queue of pending issuances remains crowded. Beyond OpenAI and Anthropic, Alphabet may return to equity markets for additional tranches if its AI capital spending trajectory continues. The combined capital expenditure plans of the largest cloud service providers exceed $750 billion, creating a persistent funding gap that debt markets alone cannot fill. For investors, the structural divergence between AI and non-AI equities is likely to persist as long as the issuance cycle continues. Companies with direct exposure to AI infrastructure spending benefit from the order flow, while those outside the AI supply chain face a prolonged liquidity headwind. The next milestone to watch is the third-quarter earnings season, when companies will disclose updated capital expenditure plans for 2027, potentially triggering another wave of equity financing announcements. This article is for informational purposes only and does not constitute investment advice.