Three Lebanese journalists killed in Israeli strike, say broadcasters
The Israeli military confirms it killed Ali Shoeib from the Hezbollah-affiliated Al Manar TV.
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Broadcom (AVGO) Q1 earnings report 2026
Broadcom reported better-than-expected earnings and revenue and issued a strong forecast for the current period, as the chipmaker continues to benefit from the artificial intelligence boom. The stock rose 5% in extended trading on Wednesday.
“We have line of sight to achieve AI revenue from chips, just chips, in excess of $100 billion in 2027,” Broadcom CEO Hock Tan said on a conference call with analysts. “we have also secured the supply chain required to achieve this.”
Here’s how the company performed in comparison with LSEG consensus:
- Earnings per share: $2.05 adjusted vs. $2.03 estimated
- Revenue: $19.31 billion vs. $19.18 billion estimated
Revenue jumped 29% year over year during the fiscal first quarter, which ended on Feb. 1, according to a statement.
Net income increased to $7.35 billion, or $1.50 per share, from $5.50 billion, or $1.14 per share, in the same quarter a year earlier. Adjusted earnings exclude stock-based compensation and tax adjustments.
For the second quarter, Broadcom said it anticipates a 68% adjusted profit margin, higher than StreetAccount’s 66% consensus. The company said it’s looking for $22 billion in revenue, beating the $20.56 billion average estimate, according to LSEG.
The guidance includes $14.8 billion in semiconductor solutions revenue, higher than StreetAccount’s $13.06 billion consensus.
Broadcom helps other companies translate their chip designs into silicon, providing intellectual property and backend technologies before they’re sent off to chip fabrication plants from companies such as Taiwan Semiconductor Manufacturing Company. It’s a role that’s gained importance as Amazon, Google, Meta and Microsoft design customized chips.
AI revenue soared 106% from a year earlier to $8.4 billion, “driven by robust demand for custom AI accelerators and AI networking,” CEO Hock Tan said in the statement. Tan had projected a doubling of AI revenue in December.
Broadcom reported $12.52 billion in revenue from semiconductor solutions, higher than the $12.25 billion that analysts polled by StreetAccount expected. During the quarter, Broadcom announced new Wi-Fi 8 chips.
For infrastructure software, Broadcom said it generated $6.80 billion in revenue, lower than StreetAccount’s $7.02 billion consensus.
In recent weeks, investors have become more concerned that generative AI models could pose competitive threats to mature software companies. The iShares Expanded Tech-Software Sector Exchange-Traded Fund is down about 19% so far this year.
“Our infrastructure software is not disrupted by AI,” said Tan, whose company acquired server virtualization software company VMware in 2023.
Broadcom said its board authorized up to $10 billion in new share buybacks through 2026.
In December Tan said Anthropic had placed a $10 billion custom chip order. Last week U.S. Defense Secretary Pete Hegseth said the Pentagon would dub Anthropic a “supply chain risk to national security” and President Donald Trump directed government agencies to stop using Anthropic after the AI startup refused to permit uses of its technology for mass domestic surveillance or fully autonomous weapons.
During Wednesday’s conference call, Tan called for one gigawatt of Google tensor processing units for Anthropic in 2026 and over three gigawatts in 2027.
OpenAI should be deploying over one gigawatt of its first-generation custom chip in 2027, Tan said.
He said Broadcom would see benefits from Meta‘s MTIA custom accelerator, despite doubts from analysts about the future of Meta’s custom silicon program.
“MTIA roadmap is alive and well,” Tan said, adding that it’s shipping now and that Meta is targeting multiple gigawatts of custom accelerator capacity in 2027 and beyond.
Advanced packaging, the next step in the chipmaking process after silicon comes off the fabrication line, is another area where Broadcom is investing. Chips are typically connected to a base layer with layers of copper to allow the chips to send electrical signals to larger systems, like circuit boards. In the earnings call, Tan said Broadcom is investing in glass substrates, a new technology that helps improve that electrical signal as systems for AI grow.
Nvidia has reserved the majority of TSMC’s most advanced chip on wafer on substrate, or CoWoS, packaging capacity, creating concerns about a bottleneck as AI chip demand shows no sign of slowing. “We have very good partners out there with this key component,” Tan said.
As of Wednesday’s close, Broadcom shares were down 8% so far in 2026, while the S&P 500 index was flat.
This is breaking news. Please check back for updates.
INDYCAR Race At Barber the Vision of Dairy Farmer who Loved Motorsports
Barber Motorsports Park (Leeds, Ala.) — George Barber Jr. took over the family dairy business and expanded into ice cream stores and then properties such as warehouses and office buildings.
And boy did he love motorsports, racing himself and collecting cars … and then motorcycles. Lots and lots of motorcycles.
He thought big. The Barber Motorsports Park and the museum on the property are not just his vision but also that of his mind. It includes incredibly eclectic statues and artwork with a good deal of quirks, from a big spider statue to monkey (named George) hanging on to the top of the scoring pylon to a hanging mannequin from a bridge (named Georgina).
His legacy lives on through the 830-acre property. George Barber died at age 85 in February, and that legacy includes the anchor event of an INDYCAR race. Barber’s passion didn’t just bring INDYCAR to the track, he used that as fuel to make improvements to the facility to have a major automobile event that fans and competitors praise.
This is the 16th INDYCAR race at Barber’s pride and joy. Scott Dixon has known Barber since they first started racing there.
“Obviously, he was huge for our sport, and what he’s done for that community — a big loss, but a hell of a person for what he did for motor racing, but also not just motor racing,” Dixon told me and other reporters earlier this month. “It was sad to see him go, but what he’s done and his legacy that will live on forever is pretty astounding.”
The veterans in the series knew Barber and his passion. He sold the dairies in 1998 and then went to work on the motorsports mecca. Most of the cars this weekend have an apt tribute to the man known for his dignity and his humility – simply his initials on a black background.
“I really liked George,” Will Power told me and other reporters. “He did a lot for INDYCAR, the way he presented that track, that museum, When you drove into that track, it was the nicest venue that we went to.
“He loved INDYCAR. He was always a great guy, very open to any suggestions. I was sad to hear of his passing.”
Barber Motorsports Park features an eclectic vibe, including a giant spider statue.
The museum (which has the biggest collection of motorcycles in the world as well as a stout collection of Lotus cars) operates as a non-profit, and the facility is set to continue to operate after his death.
“You can see when you drive in for the first time, or every time, at this facility that it’s insane — the amount of love and work and money that him and his team has put in,” three-time defending INDYCAR champion Alex Palou told me and other reporters Friday.
“It’s sad that he’s not here. I’m just hoping that we can keep these places as he wants, and that we can keep on delivering great races.”
Hamptons home sales hit new record: Here’s what to know
It may the dead of winter, but you may want to start thinking about your summer vacation, especially if you want to rent in the Hamptons this year. CNBC’s Robert Frank joins ‘Squawk Box’ with the story.
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Tue, Feb 10 20268:21 AM EST
Beckhams' 'Blackpool' lighting plans irk neighbours
Neighbours of the Beckhams in Great Tew compare the plans to the Blackpool illuminations.
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Small-cap Russell 2000 enters correction territory
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 18, 2026.
Angela Weiss | Afp | Getty Images
The Russell 2000 has fallen more than 10% off its recent high, becoming the first of the major U.S. benchmarks to fall into correction territory in 2026.
The small-cap index closed down 10.9% from its all-time high on Friday. A correction is defined as a decline of more than 10% and less than 20%.
Russell 2000, 1-year
Small caps actually outperformed to start the year, with the Russell 2000 just 2% off in 2026 as the hope of easier monetary policy and a pivot away from large caps boosted the asset class.
But the benchmark has tumbled this month amid the ongoing Iran war, which has spurred a more than 50% spike in Brent crude oil futures. The Russell 2000, which has greater exposure to cyclical sectors, is especially sensitive to changes in oil prices and a slowdown in the economic cycle. It’s down more than 7% this month.
“It usually is the smaller companies that take the beating first,” said Sam Stovall, chief investment strategist at CFRA Research. “Questions over a softening in economic growth, stagflation, or even a recession, are more apt to adversely affect small caps than large caps, thus placing them between a rock and a hard place.”
The Russell 2000 could soon be joined by other of the major averages. Both the Nasdaq Composite and the Dow Jones Industrial Average fell into correction territory on an intraday basis on Friday, though they have each closed just above those levels.
The S&P 500 is 7% off its most recent high.
Bank of America reaches settlement in Epstein lawsuit
The lawsuit, brought on behalf of a “Jane Doe”, cites a record of “incredibly alarming and erratic banking behavior” in her own Bank of America accounts, which were used by Epstein’s team. She says she met Epstein in Russia in 2011 and was controlled and sexually abused by him up until his death in jail in August 2019.
Renk CEO says Iran war could drive demand for defense in Middle East
The RENK Group is one of the world’s leading suppliers of highly efficient drive and control technology. They develop systems for using high forces and torques to drive vehicles, ships and machines. Customers come from the defense, energy and industrial sectors. (Photo by CHRISTOF STACHE/AFP via Getty Images)
Christof Stache | Afp | Getty Images
The chief executive of German defense firm Renk said the escalating war in the Middle East could boost its business in the region.
“The current crisis in the Middle East, the Iran war, this might lead overall, and this is really a gut feeling, to overall increasing demand for defense capabilities in this region,” CEO Alexander Sagel said Thursday on a call with analysts.
A day earlier, Sagel said the company received its first orders … for prototypes for a new Infantry Fighting Vehicle (IFV) from “a Gulf state,” which should be developed in the next two to three years. “It’s a kind of indication,” he added.
The Gulf states have been in the firing line of the war, facing Iranian ballistic missiles that have targeted U.S. bases on their territory, as well as energy facilities, civilian infrastructure and cities.
Renk reported fourth-quarter and full-year earnings before the bell on Thursday. While the earnings covered a period before the war in the Middle East, analysts had questions about Iran.
“I think this conflict could drive further defense spendings, not only on air and not only on ammunition, and not only on air defense systems, but also on ground-based,” Sagel said.
Renk specializes in military drivetrain technology, including IFVs, and many larger defense firms count Renk as one of their suppliers.
Renk shares have risen 46% oevr the past 12 months.
The German mid-cap defense firm reported full-year revenue that grew 19.8% year-on-year, with adjusted earnings before interest and tax expanding 21.7%.
Order intake was up 9% over the year, and the order backlog came in at a record high of 6.68 billion euros, compared with 2024’s 4.96 billion euros.
Guidance for this year, however, came in below consensus, and shares in the Frankfurt-listed company were down over 4% in midday trading. The company sees 2026 revenue of at least 1.5 billion euros, about 3% below consensus at the low point.
Renk shares have almost tripled in price since their initial public offering in February 2024.
European defense stocks have rallied amid heightened geopolitical tensions and the war in Ukraine, which prompted European governments to raise spending on defense. Larger peer Rheinmetall is due to report earnings next week.
Renk’s largest and most important unit, Vehicle Mobility Solution, drove the 2025 growth, with profitability up nearly 28%.
Its Marine & Industry unit also posted double-digit growth on both the top and bottom line, and CEO Sagel sees an opportunity for the naval unit to benefit from U.S. President Donald Trump’s push for expanded U.S. defense budgets, noting the lower-than-historical number of U.S. vessels.
“If you see the geopolitics in, especially in Asia, or when you see the number of vessels to aircraft carriers striking groups now in the Middle East, they need to build up and to ramp up through frigates, destroyers, and whatever,” said Sagel.