WS #6674
The dominant narrative in this window is a sharp escalation in US-Iran peace talks, with Trump reporting 'very good talks' over the past 24 hours and expressing optimism about a deal before his China trip. This is corroborated by Al Jazeera and multiple social media sources, and represents a potential de-escalation of the Hormuz crisis that has kept oil elevated. The US Navy also struck an Iranian ship in the Gulf of Oman, adding complexity. On the earnings front, after-hours moves are significant: Fortinet (+16%) on raised billings guidance, DoorDash (+14%) on strong Q2 order outlook, ARM Holdings (+6%) on AI-driven beat, while Zillow (-7%) on residential revenue miss and Fastly (-28%) on weak results. The broader market set a record high on hopes for an end to the war and AMD's forecast, per Bloomberg. The RBNZ governor's comments on weaker growth and higher near-term inflation are noted but secondary. Overall, the geopolitical theme is DE-ESCALATING on US-Iran talks, while earnings season remains STABLE with strong beats in tech and energy.
Key developments
- Trump says 'very good talks' with Iran, deal possible before China trip
- Fortinet lifts full-year billings guidance, shares +16% after hours
- DoorDash issues strong Q2 order guidance, shares +14% after hours
- ARM Holdings beats Q4 estimates on AI chip IP demand, shares +6% after hours
- Zillow Q1 residential revenue misses, shares -7% after hours
- Fastly shares crash 28% after hours on weak results
- US Navy strikes Iranian ship in Gulf of Oman amid Hormuz tensions
- US stocks set record high on hopes for end to war, AMD forecast