Sector Update: Tech Stocks Gain Tuesday Afternoon
MT newswire2026/10/06 17:3701:37 PM EDT, 10/06/2026 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.2%. The Philadelphia Semiconductor index increased 0.6%. In corporate news, Marvell Technology (MRVL) now expects to generate revenue of $12 billion in 2026 and $18 billion in 2027, up from its previous guidance of a combined $20 billion over that period, Chairman and Chief Executive Matthew Murphy said Tuesday at a conference, according to a transcript. Marvell shares climbed 4.8%. Alphabet's (GOOGL) Google has signed a 20-year deal with Constellation Energy (CEG) to add 890 megawatts of nuclear power to the PJM interconnection grid, the companies said Tuesday. The agreement will enable over $4.3 billion in investments in new equipment and technology at 11 Constellation nuclear facilities in Illinois, Pennsylvania and New Jersey, the companies said. Alphabet's shares were up 0.1%. Pinterest (PINS) has appointed Amazon.com (AMZN) finance executive James Dibbo as its new chief financial officer. Dibbo will succeed Julia Donnelly as Pinterest's CFO, effective Oct. 26, the company said late Monday. Donnelly, who resigned as CFO in August, will remain with Pinterest in an advisory capacity through Oct. 30. Pinterest shares were down 1.8%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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BUZZ - Cantor upgrades Humana rating, expects its Medicare profit margin to rebound strongly in 2027
October 7 - Cantor Fitzgerald has upgraded its rating on health insurance company Humana (HUM.N) from "Neutral" to "Overweight" and raised the target price from $300 to $460. The brokerage increased its 2027 EPS estimate from $15.86 to $17.96 and its 2028 estimate from $25.38 to $28.27, citing increased confidence in HUM's margin performance and quality rating recovery within the Medicare Advantage plan. Cantor expects this week’s upcoming Medicare quality ratings to be positive, and better scores would help HUM secure higher government bonuses in 2028. The brokerage stated that pricing strategies, benefits adjustments, and measures to control medical costs are expected to significantly improve Medicare margins in 2027. It believes that confirmation of HUM's 2027 performance forecast and 2027 membership in line with expectations will be the next potential catalyst following the quality ratings release. Cantor noted that HUM currently trades at 9.9 times management’s midpoint 2028 earnings forecast, compared to a historical average P/E of about 18x. (For the convenience of non-English speakers, Reuters may provide automated translations of its report into multiple languages. Due to possible errors or lack of appropriate context, Reuters does not guarantee the accuracy of translated text and provides automated translations solely for reader convenience. Reuters assumes no responsibility for any damage or loss resulting from the use of automated translation functions.)
ECB’s Pereira: No second-round inflation effects at present
Market Chatter: RWE Says Its Uniper Role Would Be Limited After Joint Bid With KKR
06:41 AM EDT, 10/07/2026 (MT Newswires) -- RWE Chief Executive Markus Krebber said any involvement by the German utility in Uniper would be limited after RWE and KKR (KKR) submitted a joint non-binding bid for the state-owned energy company, Bloomberg reported Wednesday. RWE is not targeting a takeover, given its significant position in Germany's energy market, Krebber said in an interview with Bloomberg. RWE did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
BUZZ-"Broker Opinions" Observation: As growth drivers for artificial intelligence continue to increase, Wall Street’s attitude towards Marvell Electronics is becoming more positive.
October 7 - Marvell Technology (MRVL.O) on Tuesday raised its fiscal 2028 revenue forecast to around $20 billions, beating Wall Street expectations, as surging artificial intelligence spending drives growing demand for the company’s custom data center chips. At least 11 analysts have raised their price targets; the median target price among 45 brokerages covering the stock is $325, according to Reuters data. Full speed ahead: Morgan Stanley (rated “Neutral”, target price $300) said the company's long-term targets are achievable in a potential $3 trillion AI infrastructure spending environment, but cautioned that the projected 55%-70% growth leaves almost no room for execution errors, setting a high bar for quarterly results. JPMorgan (“Overweight”, target price $360) noted: "The company is operating at full speed, and the upgraded outlook is not limited to a single product category or customer, but is supported by multiple growth drivers across the data center full stack.” TD Cowen (“Buy”, target price $350) stated that Marvell’s underlying growth momentum has fully shifted to its robust connectivity business, and the risks associated with its custom XPU projects have substantially eased. Melius Research (“Buy”, target price $445) believes that Marvell's market capitalization could reach $1 trillion if the company executes as planned. (For the convenience of non-English speakers, Reuters has automatically translated its report into several other languages. Due to possible errors in automated translation or the absence of required context, Reuters does not guarantee the accuracy of translated texts, which are provided only for reader convenience. Reuters assumes no liability for any damage or loss caused by use of the automated translation feature.)
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