US futures dropped and Asian shares were mostly higher on Monday after the Supreme Court struck down most of President Donald Trump's sweeping tariffs. Bitcoin tumbled as much as 5% early Monday, dropping below $65,000. The sell-off has been driven by investors pulling out of speculative assets and concerns about future cryptocurrency regulation. The original cryptocurrency, pitched as “digital gold”, has lost nearly half of its value since Oct 6, when it hit a record high of $126,210.50, Markets in Japan a ...

Market Reactions - Wall Street showed mixed trading after the Supreme Court struck down President Trump's tariffs, with the S&P 500 up by 0.1% in midday trading [1] - The Dow Jones Industrial Average decreased by 125 points, or 0.3%, while the Nasdaq composite increased by 0.3% [2] - Investors exhibited cautious trading, anticipating that tariffs may not be entirely eliminated, as the White House might shift to targeting specific countries or industries [6] Economic Indicators - Reports indicated slowing U.S. economic growth and rising inflation, but investors had a muted response to these developments [7] - Traders are still betting on at least two interest rate cuts by the Federal Reserve by the end of the year, with some adjusting the timing of these cuts to later in the summer [8] Company Performance - Ralph Lauren's stock initially rose by 3.3% following the Supreme Court's ruling but later fell back to a 0.1% decrease, reflecting past concerns over tariffs impacting profits [4] - Akamai Technologies experienced an 11% drop in stock price despite reporting stronger-than-expected results for the end of 2025, as its profit forecast for the upcoming year fell short of estimates [10] - Comfort Systems' stock rose by 2.4% after reporting stronger profits than analysts expected, with the CEO noting "unprecedented demand" [11] Global Market Trends - In international markets, European stock indexes gained, while the Hang Seng index in Hong Kong fell by 1.1% after reopening, and South Korea's Kospi rose by 2.3% [12]

Economic Indicators - US stock index futures experienced a slight decline ahead of key economic data releases and a potential Supreme Court ruling on Trump's tariff policies [2][12] - The upcoming US Q4 GDP report is expected to show a growth of 2.5%, down from a previous 4.4% in Q3 [3][12] - The PCE price index is anticipated to rise by 2.8% year-over-year, with the core PCE expected to increase by 3% [3][12] - There is a division among Federal Reserve policymakers regarding concerns over the labor market and inflation, with inflation rates still above the Fed's 2% target [3][12] Market Reactions - The market is currently stagnant, awaiting catalysts such as the Supreme Court ruling and Nvidia's upcoming earnings report, which may induce volatility [4][13] - The S&P 500 index has remained flat year-to-date, while the Nasdaq index has seen a decline, indicating sector rotation and broadening market participation [4][13] Corporate Earnings and Performance - Grail's stock plummeted by 47% after its drug trial failed to meet primary endpoints [16] - Opendoor Technologies' stock surged by 19% following a Q4 revenue of $736 million, exceeding market expectations of $549 million [16] - Akamai Technologies' stock fell approximately 10% due to Q1 earnings guidance that did not meet expectations [16] - Comfort Systems reported a Q4 EPS of $9.37, surpassing expectations of $6.75, with revenue of $2.65 billion, significantly above the forecast of $2.34 billion [18] Tariff Impact on Businesses - JPMorgan's report indicates that US mid-sized businesses have been severely impacted by tariffs, with monthly tariff expenditures tripling since early 2025 [15] - Tariff expenditures account for about 10% of international spending for all mid-sized US businesses, rising to approximately 15% for those paying tariffs [15] - Research shows that US businesses and consumers bear 96% of the tariff costs, with 43% of these costs passed on to consumer prices [15][7] Commodity Prices - Goldman Sachs forecasts that gold prices will gradually rise to $5,400 per ounce by the end of 2026, driven by central bank demand and increased private investment [5][14]

Core Insights - Astera Labs (ALAB) reported third-quarter 2025 non-GAAP earnings of 49 cents per share, exceeding the Zacks Consensus Estimate by 25.64% and doubling from 23 cents per share in the same quarter last year [1][8] - Net revenues increased by 103.9% year over year to $230.58 million, surpassing the Zacks Consensus Estimate by 11.53%, driven by new AI platform ramps and multiple product families [1][8] - ALAB shares fell by 4.14% in pre-market trading following the earnings report [1] Revenue and Product Details - Astera Labs is increasing production of its PCIe 6 product portfolio for customized rack-scale AI systems, with Scorpio P-Series fabric switches achieving multiple design wins across various AI platforms, including those using NVIDIA's GB300 and B300 GPUs [2] - Strong demand was noted for the signal conditioning portfolio, driven by PCIe scale-up and Ethernet scale-out connectivity applications in custom ASIC platforms [3] Operating Performance - The non-GAAP gross margin was reported at 76.4%, a decrease of 140 basis points year over year [4] - Research and development expenses rose by 55.8% year over year to $78.9 million, while sales and marketing expenses decreased by 16.7% to $19.4 million, and general and administrative expenses decreased by 3.3% to $22.1 million [4] - The non-GAAP operating margin improved to 41.7% compared to 32.4% in the previous year [4] Balance Sheet Overview - As of September 30, 2025, cash and cash equivalents along with marketable securities totaled $1.13 billion, up from $1.07 billion as of June 30, 2025 [5] Q4 Guidance - For the fourth quarter of 2025, Astera Labs expects revenues to be between $245 million and $253 million, with a non-GAAP gross margin of approximately 75% and operating expenses projected between $85 million and $90 million [6] - Earnings are anticipated to be around 51 cents per share for the fourth quarter [6] Market Position - Astera Labs currently holds a Zacks Rank 2 (Buy) [7]

Core Insights - Reddit (RDDT) reported Q3 2025 earnings of $0.80 per share, exceeding the Zacks Consensus Estimate by 50.94%, compared to $0.16 per share in the same quarter last year [1][9] - Revenues reached $584.91 million, surpassing the Zacks Consensus Estimate by 6.31%, and increased by 68% year over year [1][9] - RDDT shares rose by 11.14% in pre-market trading following the strong earnings report [1] Revenue Breakdown - U.S. revenues, accounting for 82% of total revenues, increased by 66.7% year over year to $480 million [2] - International revenues, making up 18% of total revenues, surged by 75% year over year to $105 million [2] - Advertising revenues grew by 74% year over year to $549 million, while Other revenues rose by 7% year over year to $36 million [2] User Engagement Metrics - Daily Active Uniques (DAUq) increased by 19% year over year to 116 million [3] - U.S. DAUq rose by 7% year over year to 51.6 million, while International DAUq grew by 31% to 64.4 million [3] - Weekly Active Uniques (WAUq) climbed by 21% year over year to 443.8 million [3] Average Revenue Per User - Average revenue per unique (ARPU) increased by 41% year over year to $5.04 [4] - U.S. ARPU rose by 54% to $9.04, while International ARPU climbed by 39% to $1.84 [4] Operating Performance - Reddit reported a GAAP gross margin of 91%, an increase of 90 basis points year over year [5] - Sales and marketing expenses rose by 72.7% year over year to $128.7 million [5] - Adjusted EBITDA for Q3 2025 was $236 million, up from $94 million in the previous year, with an adjusted EBITDA margin of 40.3% [6] Financial Position - As of September 30, 2025, Reddit had cash and cash equivalents of $2.22 billion, up from $2.06 billion as of June 30, 2025 [7] - The company generated $185 million in cash from operating activities in Q3, compared to $111 million in the previous quarter [7] - Free cash flow was reported at $183 million, also an increase from $111 million in the previous quarter [7] Q4 Guidance - For Q4 2025, Reddit expects revenues between $655 million and $665 million [10] - Adjusted EBITDA is anticipated to be between $275 million and $285 million for the fourth quarter [10]

Core Business & Strategy - Akamai, a cybersecurity and cloud computing company, aims to power and protect businesses online [1] - Akamai focuses on bringing high-performance, low-compute resources closer to the user [1][3] - The company positions itself as a cloud computing business, similar to hyperscalers like Amazon, Google, or Microsoft [1] Technological Challenges & Solutions - A major challenge in cloud computing is delivering dense compute capabilities to users, especially in regions with space and power constraints [3] - Akamai utilizes AMD EPYC processors to run cloud-native applications and services, aiming for performance, scale, and cost-effectiveness [3] - Customers are seeking to push the boundaries of processing capabilities, including running agents closer to the user and creating immersive experiences [2] Partnerships - AMD is a key partner, assisting Akamai in its efforts to bring more compute closer to the user [3]

Core Insights - Corero Network Security has announced the deployment of its SmartWall ONE™ solution's orchestration plane in Akamai Compute, enhancing customer flexibility and agility in DDoS protection management [1][2] - The new capability allows customers to operate the full control plane in the cloud, eliminating the need for on-premises infrastructure and significantly reducing deployment time from weeks to hours [2][3] - This development strengthens Corero's strategic partnership with Akamai, facilitating a more streamlined go-to-market approach and supporting enterprise cloud strategies [4] Deployment Benefits - The orchestration in Akamai Compute provides immediate cloud-native advantages, including elastic resource allocation, built-in high availability, and geographic redundancy [3] - Customers can utilize cloud infrastructure temporarily during software upgrades or internal transitions, ensuring operational continuity without added complexity [3] - The architecture supports multi-tenant management with strong control plane separation, offering secure and scalable deployment options [4] Company Overview - Corero Network Security specializes in DDoS protection solutions, focusing on automatic detection and protection with network visibility, analytics, and reporting tools [5] - The company is headquartered in London and operates centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, listed on the London Stock Exchange's AIM market and the US OTCQX Market [5]

Core Insights - The report focuses on the global and Chinese DDoS protection and mitigation industry, analyzing the impact of evolving U.S. tariff policies and the urgency for Chinese companies to internationalize due to domestic market saturation and global opportunities [3][4]. Group 1: Policy Impact - U.S. tariff policy adjustments are expected to significantly affect global supply chains, creating both challenges and opportunities for DDoS protection and mitigation companies [3]. - The urgency for Chinese DDoS protection and mitigation enterprises to expand internationally is highlighted, as they face saturated domestic markets alongside global growth opportunities [3][4]. Group 2: Industry Assessment - The report outlines three potential scenarios (optimistic, conservative, and pessimistic) for the future growth of the global DDoS protection and mitigation industry, with projections extending to 2031 [4][8]. - Direct impacts of tariff policies on Chinese DDoS protection and mitigation companies include increased costs and market entry pressures, as well as challenges related to supply chain restructuring [4][8]. Group 3: Market Share Analysis - The report provides insights into the market share and revenue rankings of major global DDoS protection and mitigation companies from 2022 to 2025, with 2025 figures being current forecasts [4][8]. - It includes a detailed analysis of the distribution of major DDoS protection and mitigation companies globally, including their headquarters and product types [4][8]. Group 4: Corporate Strategies - Companies are advised to shift from export dependency to a global capacity layout, emphasizing regional production networks and technology localization strategies [4][8]. - The report suggests enhancing supply chain resilience, diversifying markets, and innovating products to build technological barriers as key strategies for companies [4][8]. Group 5: Future Outlook - Long-term trends indicate a reshaping of the global DDoS protection and mitigation industry landscape, with strategic recommendations for companies to adapt to these changes [4][8]. - The report forecasts significant growth potential in emerging markets, with detailed revenue projections for various regions from 2020 to 2031 [4][8].