The major stock indices are mixed with the Dow industrial average lower by -0.60%. The S&P index trading above and below unchanged (currently up 0.15%) and the NASDAQ index of 0.62%. The Nasdaq is close to the record close at 26274.13 (currently at 26255 with a high at 26274.78). The S&P is also testing the all time high close at 7412.85 (currently at 7411.96)
Nebius is trading up is 17.47% ahead of earnings after the close which is expected to show a EPS decline of $-0.76 on revenues of $375.13 million. That compares to pay reported earnings loss last year of $-0.41 on revenues of $55.3 million. The AI infrastructure company said it is ahead of expectations on power capacity growth. The company raised its 2026 contracted power target to at least 4 gigawatts, up from a prior goal of more than 3 gigawatts. Nebius also announced a new Pennsylvania site that is expected to support 1.2 gigawatts of power when fully operational, marking its second owned gigawatt-scale facility in the U.S.
Shares are up 133.31% since March 30 after the stock price bottomed at the 200 day MA. Shares are at record levels. Needless to say, the stock price is discounting a lot with EPS still expected to show a loss. The surge in sales is encouraging though.
Marvel technologies (MRVL) is trading up 9.94% and add new record highs.Marvell Technology, Inc. engages in the design, development, and sale of integrated circuits. Its shares are up 112% since bottoming against the 100 day MA on March 19 (37 trading days). Marvell will announce earnings on May 27. Expectations are for EPS of $0.79 (vs $0.62 last year, on Revenues of 2.4B up from 1.9B last year.
