US Morning News Call | SK Hynix Receives Strong Investor Support for U.S. Listing Plan

Key Takeaways:

• SpaceX Files for $75 Billion IPO at $135 Per Share

• TSMC CEO Expects 30% Employee Profit Sharing Increase for 2026

• SK Hynix Receives Strong Investor Support for U.S. Listing Plan

• Key Earnings: CIEN, LULU, etc.

🔔Before the Bell

S&P 500 futures declined on Thursday as traders sold off tech stocks following a disappointing report from Broadcom, while also monitoring the latest developments in the Middle East.

$E-mini NASDAQ 100 Futures (SEP6) (NQmain.US)$ went down by 1.3%;

$E-mini S&P 500 Futures (SEP6) (ESmain.US)$ went down by 0.51%;

$E-mini Dow Futures (SEP6) (YMmain.US)$ went up by 0.49%.

U.S. House Passes War Powers Resolution to Curb Trump's Military Actions in Iran

The U.S. House passed a Democratic-led war powers resolution 215-208, with four Republicans joining all Democrats, calling on President Trump to withdraw U.S. forces from hostilities with Iran unless Congress formally declares war. The measure is largely symbolic unless it passes the Senate and survives a presidential veto, with Speaker Mike Johnson and most Republicans opposing it as undermining Trump's nuclear negotiations with Iran.

SpaceX Files for $75 Billion IPO at $135 Per Share

$SpaceX (SPCX.US)$ filed for an initial public offering, planning to sell 555,555,555 shares at $135 each to raise approximately $75 billion. The company targets a $1.75 trillion valuation, roughly doubling from six months ago. Trading is expected to begin on the Nasdaq on June 12.

TSMC CEO Expects 30% Employee Profit Sharing Increase for 2026

$Taiwan Semiconductor (TSM.US)$ CEO announced employee profit sharing increased approximately 30% in both 2024 and 2025, with expectations for another 30% increase in 2026.

Broadcom Reports Record Q2 Revenue but AI Guidance Disappoints Expectations

$Broadcom (AVGO.US)$ reported Q2 revenue of $22.19 billion, up 48% year-over-year, beating estimates of $22.12 billion. However, the company's AI revenue guidance for future quarters missed Wall Street expectations, causing investor disappointment despite the record quarterly results.

SK Hynix Receives Strong Investor Support for U.S. Listing Plan

SK Hynix told investors it received "tremendously positive" feedback on its proposed U.S. listing, which could raise up to $14B, driven by strong AI-fueled demand for its memory chips. The company also signaled a favorable pricing environment for HBM chips into next year and warned that surging demand for LPDDR memory from Nvidia's next-gen Vera Rubin platform could tighten broader memory supply from 2027.

🪙Crypto News

$Bitcoin (BTC.CC)$ fell 3.17% to 62859.76;$Ethereum (ETH.CC)$ declined 4.02% to 1755.56.

Standard Chartered Says Bitcoin Bottom 'Almost In' After Brutal Week for Crypto

Standard Chartered's Geoffrey Kendrick said bitcoin is nearing a bottom and is in the "buying zone," citing structurally resilient spot ETF holdings and an expected large buyback by Strategy following its recent BTC sale.

📆Market Events

Key Results

🔔Before Market

$Ciena (CIEN.US)$ posted fiscal Q2 2026 revenue of $1.57 billion (up 40% YoY) and adjusted EPS of $1.64 (up 290% YoY), driven by AI-fueled demand for high-speed connectivity. The company raised its fiscal 2026 revenue guidance to $6.3 billion (±$100 million) and guided fiscal Q3 revenue of $1.625 billion (±$50 million).

🔔After Market

The market anticipates $Lululemon Athletica (LULU.US)$ revenue of $2.43 billion, up 2.68% YOY, with net income at $195 million, a 38% YOY decrease.

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