Markets
markets
Luke Kawa

Investors dump Match Group’s stock after disappointing sales outlook, CEO breakup

Shares of Match Group are coming unglued, down over 6% in the premarket after suggesting that it will struggle to meet analysts’ sales projections for this year.

Wall Street was penciling in 2025 revenues of a little over $3.5 billion for the owner of Tinder, Hinge, and OK Cupid, but the company said sales would likely range from $3.375 billion to $3.5 billion.

Management also announced that CEO Bernard Kim would be leaving his position and is being replaced by Spencer Rascoff. In his previous role, Rascoff focused on a more advanced phase in customers’ life cycle: getting people into homes as the CEO of Zillow, rather than getting them on dates.

The company said his focus would be to deliver the “advancements in AI-powered features and new product innovations” that they discussed at their Investor Day in December. Based on that presentation, AI still has some work to do on the romance front:

Match presentation
Screenshot from Match Group presentation

The company is under pressure from activist investors frustrated with its lackluster performance, one of whom (Starboard Value) has suggested that Match should go private if it can’t reverse its sluggish operational trends.

Shares had been on a tear in recent weeks heading into this report, but are still off roughly 80% from their 2021 peak.

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Chicago Bulls player Michael Jordan is surrounded by NBA Championship trophies after his team defeated the Utah Jazz 90-86 to win the 1997 NBA Finals at the United Center in Chicago, IL.

Stock climb on US-Iran peace deal; semiconductors rally

This morning, President Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding aimed at ending the war.

Tasha Matsumoto14h
Luke Kawa
21h
Accenture poised for record one-day decline after Q3 new bookings and Q4 revenue guidance disappoint

Accenture isn’t cashing in too much from the AI revolution.

Accenture CEO Highlights AI's Role in Future Business at CES 2
markets
Helena Cheng

Intel surges after Trump announces US chip deal with Apple

Intel is soaring in early trading after President Donald Trump posted on Truth Social that Apple has agreed to work with the semiconductor giant to design and manufacture its chips domestically.

President Trump positioned the agreement as the latest victory for his administration’s industrial policy after the federal government acquired a 9.9% equity stake in Intel last year.

"Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories," Trump wrote in the post. "We design everything, but we need to BUILD it here, NOW! So I decided to help Intel because we need to design and build our Chips right here in America... and, finally, Apple has agreed to work with Intel to design and build its Chips in America."

Intel reportedly reached a preliminary agreement back in May to manufacture chips for the Apple, which has been facing supply constraints for its iPhone as well other products. The deal could help Apple reduce its reliance on longtime partner TSMC by bringing more of its chip manufacturing stateside.

"This partnership helps Apple with chip development and manufacturing on US soil with greater focus on reducing dependence on Asian manufacturing facilities." Wedbush's Dan Ives commented in a company report. He has a $400 price target for Apple this year.

The timing aligns with Intel's technical roadmap. Earlier this week, Intel confirmed that its advanced, performance-boosted 18A-P process node officially entered its risk production phase. This move serves as a blueprint for both Intel chips and processors the company plans to build for foundry customers.

“The current capacity crunch is probably emboldening customers to give Intel a harder look at this stage than perhaps they might ordinarily be inclined to do as the prospect of more advanced capacity will take on higher value in a constrained environment,” wrote Bernstein analyst Stacy Rasgon. “We are sure that Trump’s encouragement is at least not going to hurt though.”

Momentum was built around Intel Foundry services as surging global AI demand continuously outpaced capacity. Earlier this month, 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.

markets
J. Edward Moreno

Stocks rise after US, Iran sign peace plan

Stocks rose Thursday morning after President Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding aimed at ending the war, in another sign that a months-long war that caused energy prices to spike could be coming to an end.

Trump signed the MOU before a dinner in Versailles, France on Wednesday evening. The president previously announced that a deal had been reached on Sunday evening, saying that traffic through the Strait of Hormuz would resume and that the US naval blockade would be lifted.

The deal comes after both sides exchanged attacks last week, escalating tensions to some of the highest levels since the US and Israel struck Iran in late February.

The price of Brent Crude ticked even lower after dropping on Sunday, sitting at about $76 a barrel. Oil giants like Shell, Chevron and Exxon fell on the news, as average gas prices in the US dropped below $4 for the first time in months.

Futures for the S&P 500 and Nasdaq Composite rose 0.9% and 1.5%, respectively. Last week, inflation readings for May showed both wholesale inflation and consumer prices rose in large part because of higher energy costs.

Signs of the peace deal have also lead to buying of momentum stocks this week. iShares MSCI USA Momentum Factor ETFrose another 1.46% in premarket trading.

Tasha Matsumoto
6/17/26
Stocks fall after new Fed Chair Warsh’s first policy meeting as traders worry about a rate hike

While the Fed left rates unchanged (as expected) a hawkish dot plot has traders bracing themselves for a rate hike this year.

Brown bear on a rock

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