Credo Stock Soars 15% on Strong AI Outlook; Stifel Raises Price Target to $80
Key Takeaways
- Credo shares jumped 15% on AI outlook; Stifel raised target to $80.
- Coinbase received $429 million in Bitcoin from BlackRock.
- Hewlett Packard beats revenue estimates due to AI demand; $1.36B AI charge.
- S&P 500 rose, driven by chip stocks, led by Nvidia.
- KKR's George Roberts sold $142.6 million in stock.
Top Stories
Credo shares soared on strong AI outlook; price target raised.
On June 2, 2025, Credo shares jumped 15% due to a strong outlook and record AI-driven revenue. Subsequently, on June 3, 2025, Stifel raised Credo Technology's stock price target from $69 to $80.
Coinbase received $429 million in Bitcoin from BlackRock.
Hewlett Packard beats revenue estimates; $1.36B AI charge.
On June 3, 2025, Hewlett Packard reported beating Q2 revenue estimates due to AI demand and recorded a $1.36 billion charge.
S&P 500 rose, propelled by chip stocks, led by Nvidia.
On June 3, 2025, the stock market saw the S&P 500 rise, driven by a surge in chip stocks, with Nvidia leading the gains.
KKR's George Roberts sold $142.6 million in stock.
On June 2, 2025, news was released that KKR co-executive chairman George Roberts sold $142.6 million in stock.
Biggest Movers
Lumentum stock rose on raised guidance.
On June 3, 2025, Lumentum stock experienced a rise following the company's decision to raise its guidance.
Sitio Royalties Corp stock soars on Viper Energy acquisition.
Gilat stock rose after $40M contract win.
On June 3, 2025, Gilat stock experienced a rise following the announcement of a $40 million contract win.
Company Spotlight
EchoStar shares tumbled due to missed interest payments.
CrowdStrike forecasts Q2 revenue below estimates.
On June 3, 2025, CrowdStrike announced its forecast for second-quarter revenue, which is expected to be below estimates.
Compass Diversified faces irregularities; dividend cut.
On June 3, 2025, it was published that Compass Diversified (CODI) is facing financial irregularities and has cut its dividend amid an investor lawsuit.
Biofrontera secured Ameluz patent, extending until 2043.
Biofrontera secured a patent for its Ameluz formulation, extending until 2043, according to a report published on June 3, 2025.
Global View
Dutch AEX slipped; far-right leader toppled government.
Reports on June 3, 2025, indicated that the Dutch AEX experienced a decline after a far-right leader's departure led to the collapse of the government coalition.
Analyst Insights
TD Cowen reiterated Buy rating for Apple; $275 target.
RBC Capital lowered Mineral Resources stock price target.
RBC Capital maintained Outperform rating on CrowdStrike stock.
Bernstein: Boeing stock is best idea in Aerospace.
Bernstein believes Boeing stock is the best idea in Aerospace & Defense, as reported on June 3, 2025.
Insider Track
Microstrategy director sold $3.5 million in shares.
Airbnb CEO Brian Chesky sold $1.03 million in shares.
Sharplink gaming CFO bought $49,996 in shares.
Mdb capital co-founder bought $10,331 in stock.
On June 2, 2025, Christopher Marlett, the co-founder of Mdb capital holdings, bought $10,331 in stock.
Market Snapshot
India stocks closed lower; Nifty 50 down 0.70%.
On June 3, 2025, Indian stocks experienced a downturn, with the Nifty 50 index declining by 0.70%.
Mining stocks tumbled on weak China manufacturing data.
Passive flows resilient; investors rotating from USD assets.
On June 3, 2025, Investing.com reported that according to S&P DJI CEO, passive flows are resilient, and investors are rotating away from U.S. dollar assets.