US Stock Movement: Arm drops over 6% in pre-market trading, facing both profit-taking and an architecture crisis

October 8 - ** Data center service provider Applied Digital (APLD.O) saw its stock rise 3.57% in pre-market trading to $24.66 ** The company’s Q1 revenue (link) surged more than fourfold to $341.9 millions, far surpassing analyst estimates of $133.8 millions ** Northland Capital Securities noted that APLD’s revenue and cash flow should increase significantly in the coming years as contracted data center capacity becomes operational and starts generating income ** Net loss attributable to common shareholders widened from $18.5 millions (7 cents/share) a year ago to $221 millions (76 cents/share) ** According to data compiled by London Stock Exchange Group (LSEG), the average rating from 17 analysts covering the stock is “Buy”, with a median target price of $70.00, representing an upside of about 194% from the current price ** Year-to-date, the stock is down about 2.9%, while the Nasdaq Index .IXIC is up 18.5% over the same period. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translation and provides it only as a convenience. Reuters assumes no liability for any damage or loss resulting from the use of automated translation.)

WTI crude oil rose above $91 per barrel for the first time since October 2, with a daily increase of 3.02%.

According to information from Zhihu Finance APP, AstraZeneca (AZN.US) and Daiichi Sankyo (DSNKY.US) have announced that Datroway® (generic name: datopotamab deruxtecan for injection) has been approved by the National Medical Products Administration (NMPA) of China for the treatment of adult patients with unresectable or metastatic triple-negative breast cancer (TNBC) who are not suitable for PD-1/PD-L1 inhibitor therapies. Datopotamab deruxtecan is an antibody-drug conjugate (ADC) targeting TROP2, developed with proprietary technology by Daiichi Sankyo, and jointly developed and commercialized by AstraZeneca and Daiichi Sankyo.

Trader: Abu Dhabi National Oil Company issued a tender this week to sell crude oil for December loading or January delivery.