markets

Max Knoblauch5/8/26

Nintendo falls, will hike Switch 2 price amid memory crunch

Gaming giant Nintendo reported the results for its fourth quarter, which ended in March, on Friday morning. Its US-traded ADR fell nearly 4% in premarket trading.

Most notably, Nintendo announced it will raise the price of its Switch 2 console in the US by $50 to $499.99 in September. Investors have been waiting for Nintendo to join its rivals Sony and Microsoft in boosting the price of its flagship console, but the company had thus far been unwilling to do so this early in the Switch 2’s life cycle.

Nintendo shares have fallen about 45% over the past 12 months, as the company has been hit by tariffs and costs have increased due to AI’s memory demand and higher global shipping rates amid the war in Iran.

For its fiscal 2026, Nintendo reported:

2.313 trillion yen ($14.8 billion) in total revenue, compared to estimates of 2.31 trillion yen ($14.78 billion) from Wall Street analysts polled by FactSet.
19.86 million Switch 2 sales, compared to its 19 million forecast.

For the fiscal year ahead (which will end in March 2027), Nintendo forecast 16.5 million Switch 2 sales. The company is guiding for 2.050 trillion yen ($13.1 billion) in sales for the full year, compared to Wall Street estimates of 2.5 trillion yen ($16.1 billion).

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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.

Web Summit Vancouver 2026 - Day Three

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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