Live Nasdaq Composite: Tech Stocks Surrender Gains on Renewed Mideast Tensions as Earnings Ramp Up
The Nasdaq Composite is down 0.43% as tech stocks surrender gains due to renewed Mideast tensions and a busy earnings slate. Netflix (NFLX) rose over 1% after announcing a $25 billion share repurchase authorization, while Tesla (TSLA) fell 3% after clearing Q1 targets but announcing plans to ramp up capital expenditures for AI and robotics.
The Nasdaq Composite is down 0.43% as tech stocks give back ground after a record-setting finish in the prior session. Renewed hostilities in the Strait of Hormuz are pressuring all three major indices. Netflix (NFLX) rose over 1% after announcing a $25 billion share repurchase authorization, its largest buyback ever, following a 13% decline since disappointing April earnings. Tesla (TSLA) fell 3% after clearing Q1 targets with $0.41 non-GAAP EPS and 21% auto gross margins, but spooked investors with plans to dramatically ramp capital expenditures for AI and robotics. Semiconductor stocks continued a 16-session winning streak with NVIDIA trading near $203. Oklo (OKLO) is in focus after formalizing a partnership with NVIDIA (NVDA) and Los Alamos National Laboratory to accelerate next-generation nuclear infrastructure.
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