markets

Hyunsoo Rim2/3/26

Nintendo beats on Switch 2 console sales as the original Switch becomes the company’s bestselling console ever

Iconic gaming company Nintendo revealed that it sold around 7 million Switch 2 consoles in the third quarter, ended in December, topping analysts’ average estimate for 6.5 million sales and pushing cumulative Switch 2 sales past 17 million, making it the “fastest-selling dedicated video game platform” in Nintendo’s history, per the company.

Separately, the predecessor to the Switch 2 quietly became Nintendo’s bestselling console ever, having now sold 155.4 million units since its launch in 2017, according to The Verge, overtaking the mighty Nintendo DS, released in 2004, which sold 154 million units in total.

Heading into the print, Nintendo’s shares rose modestly in trading in Japan — gains that the stock has broadly held onto in Tuesday’s session, adding 1.8%. The ADRs, listed in the US, which have been impacted by currency volatility between the US dollar and Japanese yen, rose 5.7% on Monday.

For the third quarter, revenue came in at 806.3 billion yen ($5.2 billion), below estimates of 815.7 billion yen. Margins were also a little light, with operating income coming in at 155 billion yen, below estimates for 181 billion yen, per Bloomberg.

Nintendo maintained its full-year revenue and profit guidance, as well as its forecast of 19 million Switch 2 unit sales for the fiscal year ending March 2026.

The gaming giant’s shares had hit a record high last summer following the Switch 2’s launch, but are now down ~35% from that peak, with the company’s profitability weighed down by tariffs and rising memory chip costs — a key component in its consoles — as chipmakers prioritize more profitable demand from AI data centers.

Still, higher chip prices “will not have a significant impact in the third and fourth quarter performance,” though a prolonged price surge could “put pressure on earnings,” President Shuntaro Furukawa said on the earnings call.

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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