Lisa Su, chairwoman and CEO of Advanced Micro Devices (AMD), delivers the opening keynote speech at Computex 2024, Taiwan’s premier tech expo, in Taipei on June 3, 2024.
I-Hwa Cheng | Afp | Getty Images
My top 10 things to watch Tuesday, May 20
1. Shares of Club name Home Depot are higher after earnings this morning. Monthly sales cadence was great, with March and April improving after a weak February. It also reaffirmed its full-year guidance and said it won’t raise prices due to tariffs. Shares of the home improvement retailer gained 2.4%.
2. Advanced Micro Devices sold off the server manufacturing business of recently acquired ZT Systems to Sanmina for $3 billion. I had hoped for a $5 billion sale, so I’m not that excited. AMD’s reason for buying ZT was its engineers to better compete with Club name Nvidia in designing full server racks.
3. Loop Capital downgraded enterprise darling MongoDB on slowing adoption of its flagship Atlas platform. The analysts said that the decelerating trend could continue and slashed price target to $190 from $350. The stock slipped 2%.