AnalytixInsight

Last week, Dow Jones fell 7.5%, S&P 500 lost 9.1%, Nasdaq Composite was down 10%, both near 11-month lows. Nasdaq is more than 20% below recent highs, and officially entered a bear markets. Major technology stocks including Meta, Amazon, Nvidia, and Apple fell sharply due to newly announced tariffs by President Trump. Several high-profile IPOs, including Klarna, StubHub, and eToro, have been stalled due to the escalating trade tensions and recent market volatility. Circle, however, filed publicly for an IPO a few days before the market’s latest leg down. Tesla reported its worst quarter since 2022 as deliveries fell well below expectations. Microsoft has pulled back on data center projects around the world. Apple is developing a revamp of its Health app to incorporate an AI -powered agent product to designed to replicate a doctor. Amazon’s new AI agent will shop third-party sites for you. Meta plans to introduce its first smart glasses with a screen by the end of this year, code-named Hypernova, with a price tag of over US$1,000 and features like hand-gesture controls and a screen for displaying photos and apps. In Canada, MDA Space announced it will acquire SatixFy Communications in an all-cash deal valued at ~US$193 million. Tiny acquired a controlling 66% stake in DJ software provider Serato for US$66 million. In news relating to Sophic Clients, Plurilock secured US$5.9 million in new federal and public sector contracts in the U.S. and Canada. ADM Endeavors reported fiscal 2024 revenues rose 11% to US$5.76 million, driven by growth in government sector sales and promotional products. Net income increased 136% y/y to US$324,311. Xcyte Digital’s subsidiary, Streamlined Communications, experienced rapid client growth as legacy conferencing providers phase out services.