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US stocks: Marvell raises 2028 revenue forecast on strong AI data center demand
Marvell has increased its revenue forecast for 2028 to around $20 billion due to strong demand. The company's shares surged nearly 9% in early trading following the announcement. Previously, Marvell had projected $18 billion in revenue in August, while analysts expected slightly higher figures. This year, the stock has tripled in value, reflecting investor confidence in the company's performance.
Honasa Consumer shares jump 7% as Q2 operating update points to strong growth
Honasa Consumer shares rallied after the company projected strong Q2 FY27 operating performance, with net sales growth expected in the early thirties, improving margins and continued traction across brands and offline channels.
Rupee loses 13 paise to close at 96.42 per US dollar
The rupee weakened 13 paise to close at 96.42 against the dollar, its weakest level in over two months, pressured by persistent foreign investor outflows and oil companies’ dollar demand. RBI intervention limited losses, while markets awaited the central bank’s policy commentary.
US stocks: US software shares hit 2026 highs as AI disruption fears ease
US software stocks are witnessing robust growth, fueled by optimistic earnings projections and partnerships in AI. Major players like Salesforce and Accenture have showcased impressive earnings, aiding the sector's revival. Analysts suggest that fears of AI disrupting the software landscape are exaggerated. Nonetheless, challenges persist as technology evolves, potentially affecting traditional business models.
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