Midday Fly By: Nvidia invests in Iren, Expedia reports Q1 beat

Stocks were broadly higher near noon after the April jobs report beat forecasts. Chip stocks are rebounding after yesterday’s pause, helping lift the Nasdaq back toward record territory. Oil briefly pushed back above $100 after renewed U.S.-Iran clashes in the Strait of Hormuz, but equities have largely treated each flare-up as temporary noise.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Nvidia (NVDA) will (IREN) and announced a partnership between the two companies
• Expedia (EXPE) reported upbeat Q1 results, affirmed its FY26 revenue guidance, and announced a new $5B stock buyback authorization
• Akamai (AKAM) reported slightly better-than-expected Q1 results and provided its outlook for Q2 and FY26
• Block (XYZ) provided a “beat and raise” report for Q1
• Toyota (TM) reported a year-over-year decline in FY26 earnings

2. WALL STREET CALLS:

• BofA (HUBS) to Underperform, while Citi, William Blair and Cantor Fitzgerald also downgraded HubSpot to Neutral-equivalent ratings after the company’s Q1 results and commentary
• Daiwa (QCOM) to Outperform
• Wells Fargo (NKE) to Equal Weight
• Morgan Stanley, TD Cowen and BofA (PLNT) to Neutral-equivalent ratings
• Craig-Hallum upgraded Akamai (AKAM) to Buy

3. AROUND THE WEB:

• Meta’s (META) AI push is causing anger and anxiety among the company’s employees, NY Times reports
• Amazon (AMZN) has experienced a cloud outage at its north Virginia data center, Reuters reports
• Anthropic is weighing a deal for a nearly $1T valuation, FT reports
• The U.S. suspects Nvidia (NVDA) chips were smuggled tot Alibaba (BABA) via Thailand, Bloomberg reports
• SoftBank (SFTBY) has downsized plans for a $10B margin loan backed by its OpenAI stake after hesitation from some creditors, Bloomberg says

4. MOVERS:

• Monster Beverage (MNST) higher after reporting upbeat Q1 results
• Arlo Technologies (ARLO) rises after reporting quarterly results and reiterating its FY26 outlook
• Rocket Lab USA (RKLB) gains after providing an upbeat outlook for Q2
• Cloudflare (NET) lower after providing a “beat and raise” report but also announcing 1,100 layoffs
• CoreWeave (CRWV) falls after reporting downbeat Q1 earnings

5. EARNINGS/GUIDANCE:

• Yelp (YELP) reported Q1 results and reiterated its FY26 revenue outlook
• Groupon (GRPN) reported downbeat Q1 earnings
• Coinbase (COIN) reported a sharp drop in year-over-year EPS in Q1
• Wendy’s (WEN) reported upbeat Q1 earnings and revenue
• Texas Roadhouse (TXRH) reported upbeat Q1 results and affirmed its FY26 store growth outlook

INDEXES:

Near midday, the Dow was up 0.07%, or 34.97, to 49,631.94, the Nasdaq was up 1.35%, or 348.00, to 26,154.20, and the S&P 500 was up 0.76%, or 56.03, to 7,393.14.