Among companies with a market capitalization of at least $10 billion, United Therapeutics Corporation, a manufacturer of drugs for the treatment of pulmonary and cardiovascular diseases, recorded the biggest increase last week. The company’s shares rose by 31.42% in a week—to $400.52 per share. Next is Celestica Inc., a provider of electronic manufacturing services and high-tech solutions, with a 24.61% increase—to $242.68 per share. This top three is rounded out by Ciena Corporation, a developer of optical networking solutions, with a 24.18% increase—to $116.69 per share.
The top three largest-cap companies with the biggest losses last week starts off with Figma, Inc., a developer of a design and collaboration software platform, whose shares fell 21.94% to $54.86 per share. Next was lululemon athletica inc., a sportswear and accessories manufacturer, down 17.01% to $167.80 per share. This top three was rounded out by CoreWeave, Inc., a provider of cloud computing infrastructure for artificial intelligence (AI), down 13.54% to $89.09 per share.
US stock markets briefly hit record highs on Friday. The reason was much lower-than-expected labor market indicators for August, and this increased investor expectations that the Federal Reserve would cut its benchmark refinancing interest rate by up to half a percentage point in September. Later, however, the same labor market indicators sent stock prices down as investors started worrying about a weakening economy. As a result, the Dow Jones Industrial Average fell 0.3% for the week, the S&P 500 rose 0.3%, and the Nasdaq went up 1.1%.
HSBC has raised its year-end forecast for the S&P 500 index to 6,500 from 6,400, given that corporate earnings in the second quarter have exceeded expectations. As of now, nearly 80% of companies in the S&P 500 have exceeded earnings forecasts.
Global stock funds have seen their biggest weekly inflows in three weeks. They added $10.65 billion in the week that ended on September 3, which was mainly due to hopes of a reduction in the refinancing interest rate. Bond funds continued to add money for the 20th straight week, totaling $18.74 billion, while money market funds saw their highest indicators in the past four weeks, at $57.59 billion.
Broadcom shares jumped 15% on Friday after the company announced getting a new—$10 billion—order for AI chips. The customer was not named, but analysts believe it is from OpenAI, and predict that Broadcom's AI chip sales could exceed $40 billion in 2026, up from a previously forecast $30 billion.
Salesforce shares fell nearly 8% in one day after the company gave a less-than-favorable third-quarter earnings outlook, saying that returns on investments in AI may take longer than expected. The company expects revenue of $10.24 billion to $10.29 billion, slightly below analysts' estimates.
American Bitcoin Corp.'s stock price more than doubled on its market debut last Friday. US President Donald Trump's two sons own a 20% stake, worth about $1.5 billion, in this company. The latter is part of the Trump family's expanding crypto business.
Alphabet shares rose more than 9% after a US court ruled against breaking up Google, allowing the company to retain control of Chrome and Android. As a result, the company's value increased by about $210 billion, and the price per share reached a record $231.31.
Armenian investment firm Apricot Capital has announced that it obtained the internationally recognized ISO/IEC 27001:2022 certification for its Information Security Management System (ISMS). This prestigious certification, obtained as a result of an independent audit by the Austrian organization TÜV AUSTRIA, proves that the firm's internal policies, procedures, and control mechanisms comply with the strictest international standards. Apricot Capital added that the firm will continue to maintain the highest standards of information security by regularly reviewing and developing its information security management system, ensuring reliability for both individual and corporate clients.
US job growth slowed sharply in August, with the labor market adding just 22,000 jobs and the unemployment rate rising to 4.3% from 4.2%, which has caused expectations among investors for the Federal Reserve to more aggressively cut the refinancing interest rate.
The US trade balance deficit increased sharply in July, by 32.5% to $78.3 billion, exceeding economists’ expectations by $3 billion. The reason for this increase in the deficit is the increase in imports by 5.9%, while exports increased by only 0.3%. The trade balance deficit may have a negative impact on the country's GDP growth in the third quarter.
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