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Micron Technology Posts Record $41.46B Q3 FY2026 Revenue, Up 346% YoY — $50B Q4 Guidance and $100B in Take-or-Pay Customer Contracts Redefine AI Memory Cycle

Micron Technology reported fiscal Q3 2026 revenue of $41.46 billion, up 346% year-over-year, beating the $35.84 billion consensus by 16%, while adjusted EPS of $25.11 topped expectations by 24%. The chipmaker secured 16 take-or-pay customer agreements covering roughly $100 billion in minimum contracted revenue through 2030, structurally repositioning the memory cycle. Q4 guidance calls for $50 billion in revenue and EPS of $31, approximately $6.4 billion above analyst estimates. Shares rose 17% in trading.

Qualcomm Doubles Fiscal 2029 Non-Handset Revenue Target to $40B — Meta CPU Partnership and $3.92B Modular Acquisition Mark Chipmaker's AI Data Center Pivot

Qualcomm more than doubled its fiscal 2029 non-handset revenue target to $40 billion from $22 billion at its Investor Day, announcing Meta Platforms as its first data center customer for the Dragonfly C1000 CPU and a $3.92 billion all-stock acquisition of AI software startup Modular. Shares rose roughly 9% in regular trading after surging 15% in after-hours Wednesday, with data center alone targeted at $15 billion by 2029. Microsoft Azure also confirmed deployment of Qualcomm's High-Bandwidth Compute technology.

All 32 Banks Pass 2026 Fed Stress Test as JPMorgan Unveils $50B Buyback and 10% Dividend Hike — Goldman Sachs, Wells Fargo, Morgan Stanley Follow With Double-Digit Increases

All 32 U.S. banks passed the Federal Reserve's 2026 annual stress test, absorbing $708 billion in projected losses while maintaining capital ratios above minimums. JPMorgan Chase raised its quarterly dividend 10% to $1.65 per share and authorized a new $50 billion buyback effective July 1. Goldman Sachs lifted its dividend 11% to $5 per share, Wells Fargo raised its payout 11% to $0.50, and Morgan Stanley boosted its dividend 15% to $1.15 per share while reauthorizing a $20 billion repurchase program.

IRGC Strikes Singaporean Vessel Ever Lovely Near Oman — Oil Jumps 2% as IMO Pauses 11,000-Sailor Hormuz Evacuation and Three Tankers Turn Back

Iran's Revolutionary Guard Corps struck the Singaporean-flagged container ship Ever Lovely southeast of Dahit, Oman, with an unknown projectile, causing bridge damage but no crew casualties. The attack halted an IMO plan to evacuate 11,000 sailors stranded in the Strait and sent oil prices jumping 2%, with Brent briefly back above $75. Republican senators simultaneously reversed their votes on an Iran war powers resolution following a heated confrontation with President Trump over opposition to military oversight.

Federal Reserve 2026 Bank Stress Tests Cover 32 Institutions — Capital Return Plans Face Key Examination

The Federal Reserve will release 2026 stress-test results covering 32 major U.S. banks after markets close. The scenario assumes unemployment reaching 10%, residential real estate prices falling 30%, and commercial real estate declining 39%. Although capital requirement changes have been delayed until 2027, investors remain focused on buyback plans, dividend capacity, and capital return programs. Strong results could reinforce confidence in the banking sector and support large financial institutions heading into the second half of the year.

Trump Orders DOJ Probe Into Oil Pricing as Crude Falls 27% — Energy Sector Faces New Regulatory Risk

The Justice Department has been directed to investigate whether oil companies failed to pass lower crude prices through to consumers. The announcement follows a decline in crude oil prices from roughly $104 to $76 per barrel during the past month, while national gasoline prices remain near $3.93 per gallon. Investors are evaluating potential regulatory and political risks for integrated oil producers and refiners despite continued profitability across much of the energy sector.

SpaceX (SPCX) Sheds $600B in 3 Sessions, Down 20% From Peak — $20B Bond Debut Reveals Pre-Committed IPO Proceeds

SpaceX stock has fallen more than 20% from its post-IPO peak of $225, shedding over $600 billion in market value across three sessions, after the company priced a $20 billion investment-grade bond offering — revealing that the bulk of its $85.7 billion IPO proceeds were already committed to retiring a pre-existing bridge loan. A $6.3 billion compute deal with Reflection AI failed to offset investor concern over leverage at a company still posting net losses.

Oracle (ORCL) Cuts 21,000 Jobs — 13% of Workforce Eliminated as AI Deployment Cited Directly in Annual Filing

Oracle disclosed in its fiscal year 2026 annual report that it cut approximately 21,000 jobs over the past 12 months, reducing its global headcount by 13% from roughly 162,000 to 141,000 employees. The filing cited artificial intelligence deployment as a direct cause of workforce reductions and flagged further cuts as likely. Restructuring costs reached $1.84 billion, nearly five times the prior year's charge, even as Oracle simultaneously earmarks at least $50 billion for AI data center infrastructure.

AMC Entertainment Prices $200M Equity Offering at $2.10 — Stock Falls 23% Premarket as Dilution Hits Recent Meme Rally

AMC Entertainment priced a $200 million registered direct offering of 95.25 million shares at $2.10 per share to institutional investors, sending the stock down nearly 23% in premarket trading. The company plans to use net proceeds of approximately $189 million to redeem its $125.5 million in 6.125% Senior Subordinated Notes due 2027 and for general corporate purposes. The deal follows a $150 million at-the-market offering completed June 11, marking the second dilutive equity raise in under two weeks.