Qualcomm drops 11% as inflation data triggers risk-off selloff

QCOM shed more than 11% Tuesday as a hotter-than-expected inflation print sent investors fleeing from overbought tech and chip names that had rallied sharply in recent weeks. The selloff is a valuation reset, not a fundamental breakdown. Qualcomm's $20 billion buyback authorization and AI-device positioning remain intact. Watch whether QCOM finds support at prior technical levels or whether macro pressure on rate expectations keeps growth stocks under pressure in the near term.

Wendy's surges 17% on Trian's reported privatization push

WEN exploded higher after reports that Nelson Peltz's Trian Fund Management is seeking backing for a bid to take the chain private, marking the largest single-day move today. The pop is entirely deal-driven. Wendy's underlying business is contending with declining sales and rising costs, so the premium evaporates if a transaction fails to materialize. Peltz has a track record of forcing value at struggling consumer brands, but investors here are betting on a deal closing, not a business turnaround.

Meta, Tesla, Boeing, and defense contractors logged major moves today

Meta is weaving AI into Threads and opening WhatsApp to rival chatbots while simultaneously losing an Italian court ruling on news compensation and facing internal backlash over employee surveillance software. Tesla committed $250 million to its German factory for battery production as European sales recover, even as it pilots digital Supercharger waitlists and expands its robotaxi footprint to Dallas and Houston. Boeing logged 135 net new orders in April but absorbed a new legal claim from LOT Polish Airlines alleging concealment of 737 MAX safety issues. SAP consolidated its AI and automation tools into a single platform, United Airlines locked in labor peace with a costly 31% pay raise, and Leidos converted hypersonic R&D into a $2.7 billion Army production contract.