S&P 500 at 7,000 could happen before year end

At the moment, shares of Netflix are down 5% as investors wait to see how much the company could bid for Warner Bros Discovery. Right now, NFLX is reportedly offering a mostly cash offer.

Marvell Technology is up 4% after reporting EPS of 76 cents, which beat estimates by two cents. Revenue of $2.08 billion, up about 37% year over year, beat by $10 million. Even better, analysts at Jefferies, which has a buy rating and a $120 price target on MRVL, said: “The confidence in the custom business continues to rise, pointing to 20% growth next year with a stronger 2H with PO for the year in hand,” they added, as quoted by Seeking Alpha, adding that Microsoft’s Maia 300 chips are likely to be a “key driver” for Marvell’s revenue doubling in fiscal 2028.

Microsoft is attempting to come back after denying a report from The Information that it was lowering its AI products sales targets.

Markets are back in rally mode.

All as investors shrug off weakness in ADP payroll data, and Microsoft’s early-day decline.

Granted, a report from The Information said MSFT is cutting software sales quotas tied to artificial intelligence. It was also reported that MSFT “lowered its forecast for how fast customers will be able to spend money on AI agents, after a number of salespeople missed their goals,” as noted by Seeking Alpha.

However, it looks like investors are starting to shrug that off, too. In fact, after an early-day $13 decline in MSFT shares, the tech giant is slowly starting to pivot higher.

Shares of Microsoft (NASDAQ: MSFT) are down nearly 3% or by $13 a share.

All after a report on The Information said MSFT is cutting software sales quotas tied to artificial intelligence. It was also reported that MSFT “lowered its forecast for how fast customers will be able to spend money on AI agents, after a number of salespeople missed their goals,” as noted by Seeking Alpha.