Tech stocks Astera Labs, CoreWeave, Nebius, Rocket Lab, and Teradyne have risen as much as 8.9% in premarket trading on Friday, thanks in part to Nasdaq’s announcement that the five companies will join its flagship Nasdaq-100 index starting June 22.

As part of the index operator’s quarterly rebalance, which affects some $1.4 trillion in assets within the Nasdaq 100 ecosystem, the companies will replace Charter, Zscaler, Cognizant, Insmed, and Verisk — relatively slow-growth legacy businesses that have lingered around the bottom of the index in market cap terms of late. Most of those stocks slipped slightly on the news.

With CoreWeave and Nebius as two of the major players in the neocloud space, and Astera Labs and Teradyne specializing in making AI hardware and semiconductors, the latest additions reflect how the index is upping its exposure to the AI infrastructure stack. Back in December, Nasdaq also added AI data storage names Seagate Technology Holdings and Western Digital, as well as AI server manager Monolithic Power Systems as part of its quarterly rebalance.

Adobe reported fiscal Q2 results Thursday, beating analysts’ estimates for revenue and earnings, as its stock plumbed its lowest levels since 2019.

For Q2 2026, the creative software company posted:

• Revenues of $6.62 billion (estimate: $6.45 billion).

• Adjusted earnings per share of $5.96 (estimate: $5.82).

• Annual recurring revenue of $27.1 billion (estimate: $26.6 billion).

• Subscription revenue of $6.42 billion (estimate: $6.27 billion).

• Remaining performance obligations of $22.27 billion (estimate: $21.86 billion).

The company also said its CFO, Dan Durn, would step down next week “to pursue a new professional opportunity.” And it boosted its full-year guidance for earnings and revenue.

Shares fell 5.5% in after-hours trading.

Adobe is feeling the pressure from AI, as the April release of Anthropic’s Claude Design threatens the company’s core design software business. Shares have tanked lately, with the stock down by nearly half over the past 12 months, putting it at levels not seen in years.

Last quarter, Adobe announced that CEO Shantanu Narayen, who had been at the company for 18 years, would be leaving after his successor was appointed. Today, Adobe announced that CFO Dan Durn would also be leaving the company — this month.

Adobe announced a $25 billion stock buyback in April, which gave the stock a boost. The company said it repurchased about 8.5 million shares during the quarter.

In a press release, Narayen said:

“Adobe delivered record revenue of $6.62 billion in Q2 reflecting strong AI-driven demand across our customer groups and we are raising our full-year fiscal 2026 revenue and non-GAAP EPS targets on the strength of that performance.”

President Trump on Thursday afternoon said he is calling off upcoming planned strikes on Iran. In a Truth Social post, Trump said “discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved.”

Stocks broadly popped, with the S&P 500 moving from roughly flat to up 1.4% on the day, and oil plunged on the news.

“Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others. The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the signing to be announced shortly,” the president added.

West Texas Intermediate crude futures are down 3% on Thursday afternoon, dropping sharply following the post.

Oil-sensitive stocks reacted accordingly, with airlines including Delta Air Lines, American Airlines, United Airlines, Southwest Airlines, JetBlue, Alaska Air, and Frontier all climbing significantly. Carnival, Norwegian, and Royal Caribbean similarly jumped.

Freight companies including UPS, FedEx, XPO, and Old Dominion Freight were also up on oil’s movement.

Oil-adjacent companies including Exxon, ConocoPhillips, and Occidental Petroleum dipped.

Intel shares are surging following a double rating upgrade from Bank of America, which flipped its stance on the company from bearish to bullish.

Bank of America raised its rating on Intel to “buy” from “underperform,” boosting its 12-month price target to $135 a share from $96.

Shares of Intel rose 5.2% in recent trading, bringing the stock’s gains thus far in 2026 to more than 200%.

Analyst Vivek Arya noted “higher confidence in INTC’s opportunity to help address industry constraints in leading edge wafers/packaging” and its ability to capture a “much larger” agentic CPU market.

Bank of America heavily increased its estimate for the global server CPU total addressable market (TAM), predicting it will skyrocket to more than $170 billion by 2030. Analysts highlighted the rise of agentic AI as a critical tailwind that will require a massive volume of traditional x86 server chips.

Beyond standard chip architecture design, the report also shows confidence in Intel’s customized manufacturing services. BofA analysts now project that its server CPU revenue could top $40 billion by the end of the decade.

Momentum was built around Intel Foundry services as surging global AI demand continuously outpaces capacity. Just last week, Google reportedly placed an order with Intel to manufacture more than 3 million of its increasingly popular tensor processing unit chips in 2028. According to the report, Nvidia is also testing to see if Intel could manufacture its next-gen Feynman chips.

Country-themed restaurant chain Cracker Barrel is soaring on Wednesday, on pace for its best trading day ever following an earnings beat on Tuesday afternoon.

The chain, known for its rocking chairs, little peg games, and various memorabilia featuring the American flag/Route 66/wagon wheels, reported Q3 sales of $797.4 million, beating Wall Street expectations of $776.7 million. It posted adjusted earnings of $0.29 per share, compared to the $0.48 per-share loss expected by analysts polled by FactSet.

Cracker Barrel also hiked its fiscal year revenue forecast to between $3.27 billion and $3.3 billion, up from $3.24 billion to $3.27 billion.

Those results have propelled the stock to gains of more than 26% on Wednesday, putting the chain on track to surpass its previous highest daily market gain of 25% in November 2008. Traders are pouring into the stock, with trading volumes up more than 6x their 30-day average.

As of Wednesday morning, Cracker Barrel shares are now up more than 80% in 2026.

Oscar Health shares surged Wednesday, fueled by an upgrade from Barclays after the company reiterated its full-year guidance earlier this week.

The stock has rallied lately, up about 40% from its June 3 closing price and pushing to its highest levels since the hype days just after its IPO in March of 2021.

Barclays upgraded the insurer to “overweight” from “equal-weight” and raised its price target to $35 from $30, according to Investing.com. Analysts cited the company’s focused participation in the fast-growing Affordable Care Act market as an avenue for potential growth.

On Monday at a Goldman Sachs healthcare conference, Oscar reassured investors by reaffirming the company’s full-year 2026 financial guidance, according to a company filing.

The recent momentum comes after Oscar reported strong Q1 results in May. The company reported revenue of $4.65 billion, up from $3 billion for the first quarter of 2025, driven by higher membership and rate increases.

Inflation ticked up in May, but the key core inflation metric came in cooler than economists had expected, according to the most recent reading by the Bureau of Labor Statistics, released on Wednesday.

Consumer prices rose 0.5% month over month, with core inflation (which strips out volatile food and energy prices) rising 0.2%, slightly cooler than the 0.3% economists were expecting.

Year over year, prices increased 4.2%, the highest in three years, reflecting higher energy prices caused by the war in Iran. Stripping out food and energy, prices rose 2.9%. Both figures are right in line with what economists were penciling in.

S&P 500 Index futures, which had fallen earlier this morning amid escalating tensions in Iran, trimmed some of their losses after the report.

Expectations across various Fed-related prediction markets were largely unchanged following the report. The inflation report, paired with a surprisingly strong jobs report last week, seemed to solidify expectations that the Federal Reserve will keep rates steady at its meeting next week.

“The in-line headline CPI and subdued core inflation data give the Fed some breathing room to remain patient as the energy supply shock plays out,” Angelo Kourkafas, a strategist at Edward Jones, said in a statement.

Chewy shares whipsawed in premarket trading after the online pet retailer reported Q1 results that slightly surpassed earnings expectations and narrowly beat revenue estimates.

Key numbers:

• Net sales of $3.36 billion (compared to analyst estimates of $3.35 billion).

• Adjusted earnings per share of $0.43 (estimate: $0.41).

Just a few weeks ago, Chewy CEO Sumit Singh, while speaking at the JPMorgan Technology, Media & Communications Conference in late May, said that US consumers appear more financially stretched than they were at the start of 2026, Barron’s reported.

“Our first quarter results demonstrate the resilience of our business model and the strength of our execution, despite a more dynamic consumer backdrop,” Singh said in a statement.

Chewy did not issue a forward guidance update or a revised full-year outlook in its initial press release. Its stock has dropped roughly 39% year to date.

The company’s adjusted EBITDA rose 31.3% to $253.1 million. Gross margin improved 50 basis points year over year to 30.1%.

Chewy added nearly 200,000 net active customers in the quarter, expanding its total active user base to 21.5 million customers, a 3.6% year-over-year increase.

Super Micro Computer fell around 9.5% at one point before the bell Wednesday after announcing $7 billion in equity and equity-linked financing plans late on Tuesday, as the company looks to raise funds to satisfy increased demand for its advanced AI servers.

In a press release, SMCI outlined plans to issue $1.25 billion in common stock and $3.75 billion worth of depositary shares, which reflect fractional interests in the company’s newly issued convertible preferred stock, as part of its underwritten public offering, in addition to selling up to $2 billion of shares in an at-the-market offering slated to start no earlier than the third quarter of 2026.

Super Micro stated that a portion of the funds would be used for the “purchase of components to satisfy the AI orders that the Company has received in recent weeks for its advanced AI servers,” disclosing that it has received $39 billion in AI server orders from more than 20 customers in the last few weeks.