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Family offices increased stock holdings to 37% of portfolios in the second quarter, up from 34% in the first quarter, marking the largest quarterly shift in several years.
Gap appointed Michael Francis as the new Old Navy CEO, effective November 2, to revitalize the struggling brand. Gap shares jumped 12% on the announcement as the company posted mixed quarterly results.
Marvell Technology shares declined 8% in premarket trading despite beating revenue estimates and raising its fiscal 2028 outlook, as the company’s guidance failed to meet investor expectations.
Alibaba shares fell 4.6% after the Chinese tech giant reported a 75% drop in net income for the June quarter, driven by capital expenditure surging 75% to 67.7 billion yuan amid AI infrastructure investments.
Strattec Security achieved record annual revenue of $579.4 million in fiscal 2026 while expanding gross margins by 150 basis points to 16.5% through pricing discipline and operational improvements.
Intuit is shifting strategy toward acquiring new customers and investing in AI-driven products while guiding for 9-10% revenue growth in the coming fiscal year, down from prior expectations.
