MORNING NEWS

Micron MU Technology, which has seen its value triple this year, said revenue quadrupled in the second quarter and forecast that rapid growth will continue due to near-insatiable demand for its memory chips. Shares surged by as much as 15% in after-hours trading after the company beat Wall Street expectations in virtually every financial metric watched closely by investors, including sales, earnings per share and adjusted gross margin.

FedEx FDX logged higher revenue in its latest quarter on higher shipping rates and volumes. The shipping company’s profit ticked down in the quarter, hurt by costs related to the spin off of its freight operations, business optimization and shift to reporting on a calendar-year basis. Shares declined 6.2% to $297.50 in late trading on Tuesday. At the market close, shares were up 36% year to date. Shares of economic bellwether FedEx FDX fell in late trading despite the delivery giant’s reported increase in quarterly package volumes and revenue.

Prior to the release of its Half-Year 2026 results on 22 July, Lonza has published restated Half-Year 2025 financial information reflecting the classification of its CHI business as discontinued operations, in line with its Full-Year 2025 reporting. In December 2024, Lonza announced its intention to divest the CHI business.

Chinese robotics company Coowa is gearing up to go public in Hong Kong, people familiar with the matter said, joining the wave of robotics and tech companies raising capital in the city. The SoftBank Group backed company’s valuation stood at more than $3 billion after it raised more than $600 million in its latest funding round, the people said. Shanghai-based Coowa plans to file the IPO application within the next two to three months, they added.

Moderna shares rose 3.5% Thursday after an advisory committee voted to recommend the U.S. Food and Drug Administration approve the biotech’s proposed new flu shot for people 50 and older. The FDA had initially declined to consider Moderna’s application for the shot’s approval but then agreed to review it after Moderna amended it. The advisory committee vote in favor of the vaccine isn’t binding, but the FDA generally follows such recommendations.

The Federal Reserve’s first statement under Chairman Kevin Warsh clocked in at only 132 words. Wall Street was troubled by the final six of them. “The Committee will deliver price stability.” The central bank held its benchmark rate steady, as expected, in Kevin Warsh’s first meeting as Fed chairman. But officials’ quarterly economic projections showed that nine of 19 officials penciled in at least one rate increase by the end of the year, up from none in March.

Sandoz today inaugurates a new biosimilar development centre in Ljubljana, Slovenia, to strengthen and expand its in‑house biosimilar capabilities. The fully digitally integrated USD 99 million facility covers about 10,000 m² and employs more than 200 scientists. It supports end-to-end drug substance and drug product development, backed by advanced analytics and data science.

Siegfried, a leading global Contract Development and Manufacturing Organization (CDMO) for the pharmaceutical industry headquartered in Zofingen, Switzerland, today inaugurates its new large-scale production facility for API manufacturing in Minden, Germany. The facility adds 100 m³ of reactor capacity and strengthens Siegfried's position as one of the leading global CDMOs for small molecule drug substances.

Shares in SpaceX soared 19% Friday as Elon Musk’s rocket maker pulled off the largest initial public offering ever and one of the smoothest in recent history. The company, valued at $1.77 trillion when it sold $75 billion worth of shares a day earlier, ended its first day of trading with a market value of around $2.2 trillion, putting it ahead of Broadcom and Tesla to make it the sixth-most valuable public company in the U.S. The offering handed longstanding SpaceX investors and employees billions in collective gains and turned Musk into the world’s first trillionaire.

ORCL reported higher profit as surging revenue from it cloud infrastructure business more than offset a decline in its software during the fourth quarter. The cloud-computing and software company on Wednesday reported a 47% increase in its cloud revenue, to $9.9 billion, which includes a 93% increase in cloud-infrastructure revenue. Growth in the company’s Oracle Cloud Infrastructure business reflects continuing strong demand for artificial-intelligence computing workloads, co-Chief Executive Officer Clay Magouyrk said on an analyst call. “AI infrastructure makes the existing cloud infrastructure market look small. Everything we see shows this market size is trillions of dollars per year,” Magouyrk said.