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Asustek Computer Shares Jump 10% After Q2 Profit Nearly Doubles On Surging AI Server Demand

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TAIPEI — Shares of Asustek Computer surged Thursday after the Taiwanese electronics maker reported second-quarter earnings that nearly doubled from a year earlier, extending a rally that has made the company one of the standout performers of Taiwan’s ongoing artificial intelligence-driven technology boom.

Asustek shares, traded on the Taiwan Stock Exchange under ticker 2357, climbed to 937.00 Taiwan dollars as of 1:30 p.m. local time, up 85.00 Taiwan dollars, or 9.98%, from the previous close of 852.00 Taiwan dollars. The move pushed the stock close to its 52-week high of 964.00 Taiwan dollars, a level reached earlier this year, and firmly within reach of a fresh record following Thursday’s earnings-driven rally.

Asustek reported second-quarter 2026 earnings per share of 25.64 Taiwan dollars, nearly double the 13.20 Taiwan dollars reported in the same period a year earlier. Revenue for the quarter came in at 257.7 billion Taiwan dollars, up 37% from the second quarter of 2025, while net income reached 19.0 billion Taiwan dollars, an increase of 94% year-over-year. The company’s profit margin expanded to 7.4%, up from 5.2% a year earlier, with the improvement driven primarily by the strength of revenue growth outpacing the rise in costs. Both headline figures topped analyst expectations, with revenue exceeding consensus estimates by 4.8% and earnings per share surpassing forecasts by roughly 65%.

The results extend a run of strong performance for Asustek that has been building for much of 2026. The company’s first-quarter results, reported earlier this year, showed record brand revenue of roughly 194.05 billion Taiwan dollars, or about $6.19 billion, a 44% increase from the prior year, driven by surging demand for AI servers alongside stable notebook computer shipments. That first-quarter report also showed net profit climbing 34% year-over-year to 4.82 billion Taiwan dollars, or roughly $160.9 million, underscoring a consistent pattern of accelerating profitability across the company’s recent quarterly results.

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Asustek’s rapid growth has been anchored heavily in its expanding artificial intelligence server business, a segment that has grown from a relatively modest contributor to the company’s overall revenue into one now approaching a fifth of total sales, according to earlier company disclosures. The company has continued to emphasize strong order visibility and margin resilience in its guidance to investors, even as component shortages and rising input costs have weighed on parts of the broader global electronics manufacturing sector throughout the year.

Wall Street analysts have offered a mixed, evolving picture of the stock heading into Thursday’s results. JPMorgan analyst Albert Hung upgraded Asustek to neutral from underweight earlier this year, raising his price target to 750 Taiwan dollars from 525, even while remaining cautious on the outlook for consumer PC demand specifically. Morgan Stanley, by contrast, had previously downgraded the stock to underweight from equal weight, cutting its price target to 500 Taiwan dollars from 625, citing concerns about growing margin risk across hardware companies more broadly as component costs have climbed. Despite that split in analyst sentiment, the stock’s overall rating from covering analysts has remained a buy, with five analysts recommending purchase against a single sell rating heading into this week’s results.

Asustek’s share price performance has significantly outpaced broader regional benchmarks over the past year. According to data compiled by Stockopedia, the stock had outperformed the FTSE Developed Asia Pacific Index by more than 36 percentage points over the trailing six months even before Thursday’s earnings-driven gain, with shares trading nearly 29% above their 200-day moving average heading into the results. Simply Wall St separately noted that the stock has risen roughly 40% over the past year, even as some analysts have observed that the company’s earnings per share growth, averaging 45% annually over the past three years, has significantly outpaced the stock’s own price appreciation over the same period, suggesting the shares may not have fully caught up to the company’s underlying earnings growth.

Asustek’s rally forms part of a broader surge across Taiwan’s technology sector this year, fueled by explosive global investment in artificial intelligence infrastructure. Other major Taiwanese technology names, including chip foundry giant TSMC, have similarly posted strong gains throughout 2026 as global demand for AI-related hardware, from advanced semiconductors to servers and specialized computing equipment, has continued accelerating.

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Looking ahead, Asustek’s next scheduled quarterly earnings report is due November 5, giving investors roughly three months to assess whether the strong order momentum and margin improvement seen in Thursday’s second-quarter results can be sustained into the back half of the year. With the stock now trading near its 52-week high following the earnings beat, market participants are likely to watch closely for any further signals on AI server order backlogs and pricing trends as the company works to build on what has already been one of its strongest years of growth in recent memory.

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Wall Street gains as Fed rate hike worries ease

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Wall Street gains as Fed rate hike worries ease

The S&P 500 has notched a ‌record-high close, fuelled by advances in Sandisk and other heavyweight technology stocks, as tame producer price inflation data supported expectations the Federal ‌Reserve will not raise interest rates at its September meeting.

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Reese’s, Almond Joy ice cream bars recalled over labeling error

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Reese's, Almond Joy ice cream bars recalled over labeling error

The Magnum Ice Cream Company is voluntarily recalling all lots of certain Reese’s and Almond Joy ice cream bars after an internal review found inaccurate nutritional information on the products’ cartons.

The Class III recall covers Reese’s Crunchy Peanut Ice Cream Bars and Almond Joy Ice Cream Bars and extends to the retail store level, according to a recall notice posted by SpartanNash.

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The Food and Drug Administration defines a Class III recall as a situation in which use of or exposure to a product “is not likely to cause adverse health consequences.”

WHOLE FOODS RECALLS SALSA, GUACAMOLE AND PREPARED FOODS IN 12 STATES OVER SALMONELLA CONCERNS

Packages of Reese's peanut butter cups displayed at a retail store

Reese’s products are displayed at a store. The Magnum Ice Cream Company is recalling certain Reese’s and Almond Joy branded ice cream bars over inaccurate nutritional information on the packaging. ( Jakub Porzycki/NurPhoto via Getty Images / Getty Images)

The company said certain nutritional information was inaccurately declared on the nutrition panel. However, the ingredients and allergen information listed on the packaging are correct, according to the recall notice.

The Reese’s Crunchy Peanut Ice Cream Bars can be identified by UPC 8-40473-40024-5 and are sold in six-count packages. The Almond Joy Ice Cream Bars carry UPC 8-40473-40029-0.

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All lot codes of the affected products are included in the recall.

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Almond Joy candy bars and packaging featuring the brand's coconut and almond ingredients

Almond Joy candy bars are pictured. The Magnum Ice Cream Company is recalling Almond Joy Ice Cream Bars and Reese’s Crunchy Peanut Ice Cream Bars because of inaccurate nutritional information on the products’ cartons. (Julia Ewan/The Washington Post via Getty Images / Getty Images)

The recall notice did not specify which nutritional information was inaccurate. Consumers who rely on the nutrition panel to monitor their dietary intake should therefore be aware that some of the information printed on the affected cartons may not be accurate.

FOX Business reached out to The Magnum Ice Cream Company for additional information about which nutritional values were incorrectly listed, how many products are affected, where they were distributed and whether the company has received any consumer complaints or reports of adverse health effects.

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FOX Business also contacted the FDA for additional information about the Class III recall and any reported adverse health consequences, as well as SpartanNash for details about the affected products’ retail distribution. Responses were not immediately received.

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HSY THE HERSHEY CO. 186.12 +1.89 +1.03%

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SpartanNash instructed customers who may have purchased the recalled ice cream bars not to consume them and instead return the products to the store for a refund or replacement.

Consumers with questions or concerns about the recall can contact The Magnum Ice Cream Company at 1-800-634-7532. SpartanNash customers can contact the retailer’s customer service center at 1-800-451-8500.

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Meta turns to skilled trades as AI boom drives massive workforce demand

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May 2026 jobs report: US employers add 172,000 jobs, beating expectations

Meta is partnering with North America’s Building Trades Unions (NABTU) to expand the pipeline of skilled workers needed to build and maintain America’s rapidly growing AI infrastructure.

The partnership, announced Wednesday, will give Meta access to NABTU’s network of apprenticeship and training programs while helping connect skilled trades workers with Meta projects across the U.S.

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“The Meta partnership with North America’s Building Trades Unions means avenues of communication are open, access to our recruitment and training pipeline of skilled craft will become available and we’ll be able to deploy craft on an as-needed basis to Meta projects anywhere across America,” Sean McGarvey, president of NABTU, told FOX Business.

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Meta headquarters

The partnership will give Meta access to NABTU’s network of apprenticeship and training programs. (David Paul Morris/Bloomberg via Getty Images)

Demand for skilled trades workers has grown rapidly as tech companies invest in data centers and other infrastructure needed to power AI.

McGarvey said the demand is being felt across a range of trades, including HVAC technicians, laborers, operating engineers and others.

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NABTU represents more than 3.2 million skilled craft professionals in the U.S. and Canada through an alliance of 14 national and international unions. 

Its unions and contractor partners operate more than 1,900 apprenticeship and training facilities across North America and invest more than $3 billion annually in training and education, according to the announcement from Meta.

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Sean McGarvey, president of the North Americas Building Trade Union

McGarvey said the demand for skilled trades workers is being felt across a range of trades. (Daniel Heuer/Bloomberg via Getty Images)

NABTU has roughly 300,000 people enrolled in its registered apprenticeship system, according to McGarvey, who added that number could grow significantly.

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“We currently have that 300,000, and we can ramp that up to a million, based on demand,” he said.

Meta President Dina Powell McCormick said skilled trades workers will be critical to building the infrastructure needed for the U.S. to compete in AI.

“We are so proud to work with NABTU on this partnership,” Powell McCormick said in a statement. “I have had the privilege of working with President McGarvey since I took on this new role, and we are excited to work together on skilled trades.

“This is an important moment, and these men and women of the skilled trades are building the American infrastructure needed to ensure America’s values lead the AI race globally.”

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META, OTHER COMPANIES MUST FACE THOUSANDS OF LAWSUITS OVER CHILD SOCIAL MEDIA ADDICTION, APPEALS COURT RULES

High-tech data center with server racks

A high-tech data center is pictured here. Demand for skilled trades workers is growing as the country’s AI infrastructure buildout expands. (iStock)

The agreement comes as Meta expands its investment in U.S. infrastructure and workforce development.

The tech company said the partnership builds on its Future Is For Everyone Fund, which is aimed at investing in communities, including teachers, first responders and energy and water infrastructure.

McGarvey said the jobs created by the AI boom could last well beyond the initial construction of data centers because the facilities will need regular upgrades.

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“The need for skilled craft on a constant basis in these digital facilities is ongoing long after initial construction is complete,” he said.

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Mike Ashley’s Frasers Group buys Harvey Nichols in pre-pack deal

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The group, which also owns Sports Direct and Flannels, has acquired most of the chain’s stores from FTI Consulting securing more than 1,000 jobs

Harvey Nichols on New Cathedral Street in Manchester

The Harvey Nichols store on New Cathedral Street in Manchester(Image: Jason Roberts /Manchester Evening News)

Mike Ashley’s Frasers Group has purchased Harvey Nichols, rescuing the embattled luxury department store from the brink of insolvency.

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The group, which also owns Sports Direct and Flannels, has snapped up each of the chain’s stores, excluding the Dublin location, from FTI Consulting through a pre-pack administration process.

Frasers’ takeover of Harvey Nichols represents the latest move in its drive into luxury fashion, as it seeks to expand beyond its origins in cut-price sportswear.

The firm, founded by billionaire Mike Ashley, has seen off rivals including FTSE 100 retail giant Next, which had also been involved in the bidding process.

The deal will safeguard the jobs of more than 1,000 members of staff, though Harvey Nichols employs around 1,200 in total, suggesting a number of redundancies will follow. Frasers will also acquire the group’s online operation and existing stock, as reported by City AM.

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Frasers stated it will need to commit to “significant restructuring” of the department store group, which has recorded five successive years of losses after buckling under fierce competition from rivals Harrods and Selfridges. In the UK, Harvey Nichols has stores in London, Bristol, Manchester, Birmingham, Leeds and Edinburgh.

Prior to the deal, Ashley warned that Harvey Nichols – which had risen to prominence through its association with the 1990s sitcom Absolutely Fabulous – had fallen into a “death spiral”. He told the Financial Times that he anticipated the department store chain would be sold for less than £40m.

“I don’t think I’ll be writing a huge cheque, because you’ve got to think about the future losses,” he had said.

Earlier this week, directors of the Knightsbridge-based Harvey Nichols warned that the business faced collapse unless it secured a buyer or obtained emergency funding.

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Confirming the deal on Thursday, Frasers chief executive Michael Murray said: “Harvey Nichols is an iconic British institution with significant potential, but it is clear meaningful change is needed. “.

“The turnaround will require tough choices, and we are prepared to make those decisions, even if that means a smaller business in the near term, to create a stronger and more sustainable Harvey Nichols for the long term.”

Frasers has made several moves for luxury brands in recent years, including an unsuccessful attempt to gain control of upmarket bagmaker Mulberry.

Last month, the group submitted a £1.7bn offer for German fashion house Hugo Boss. Frasers subsequently increased its stake in the company to 37 per cent, triggering a mandatory offer for all of the shares it does not already own.

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Frasers said its acquisition of Harvey Nichols will build on the group’s “elevation strategy, strengthening its luxury positioning”. Julia Goddard, chief executive of Harvey Nichols, said: “Today marks an important milestone for Harvey Nichols and provides a strong platform for the next phase of the business’s evolution under the ownership of Frasers Group.

“Over the past year, we have made significant progress in repositioning this iconic business, investing in our flagship store, broadening our customer proposition, and strengthening the brand DNA.”

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Tyson Foods to shutter 2 facilities amid cattle shortage

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US beef prices may not drop until 2029 as cattle herd hits 72-year low

Tyson Foods announced Thursday that it will close two facilities and is pursuing the sale of a third as it makes “strategic changes” to its beef business.

The company will end operations at its Joslin, Illinois, beef plant and its Eagle Mountain, Utah, case-ready facility, while pursuing a sale of its Pasco, Washington, beef facility, according to a Tyson Foods news release.

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“Tyson Foods will anchor its beef business around three strategically located beef facilities in the central United States: Dakota City, Nebraska; Holcomb, Kansas and Amarillo, Texas, to create a more competitive footprint amidst one of the most historic cattle shortages the country has ever experienced,” the meatpacking giant said.

HIGH BEEF PRICES HITTING CONSUMERS AS MEATPACKING GIANT WARNS OF SUPPLY STRUGGLES

Herd of beef cattle grazing on open grassland.

Beef cattle gather in a pasture. Tyson pointed to recent data showing continued limited heifer retention, a sign that tight cattle supplies could persist. (Angela Piazza/The Dallas Morning News, File)

Tyson pointed to recent data showing continued limited heifer retention, a sign that tight cattle supplies could persist.

“Recent USDA cattle inventory data, which included continued evidence of limited heifer retention, indicates these supply constraints are likely to persist, requiring strategic action,” the company said.

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Capacity from the Illinois and Utah facilities will be shifted to other Tyson locations that the company said have “ample capacity to grow.”

Tyson also plans to ramp a second shift back up at its Amarillo, Texas, plant as more cattle become available.

US SOYBEAN FARMERS RACE TO MEET GLOBAL DEMAND AS FARMLAND SHRINKS

the logo of Tyson Foods, Inc.

Capacity from the Illinois and Utah facilities will be shifted to other Tyson locations that the company said have “ample capacity to grow.” (Cheng Xin/Getty Images)

“These changes will allow the company to maintain a similar level of cattle harvesting across a more efficient and modern network,” the news release states.

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The company also said it will support employees affected by the closures.

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TSN TYSON FOODS INC. 56.39 +0.58 +1.04%

“The company is committed to supporting our team members through this transition, including helping them apply for open positions at other facilities,” Tyson said. 

The changes come as American consumers continue to face elevated beef prices and meatpackers grapple with tight cattle supplies and higher costs.

TRUMP DECLARES FOOD SUPPLY EMERGENCY, SUSPENDS TARIFFS ON KEY FERTILIZER IMPORTS

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Packages of Tyson Foods Inc.

Tyson Foods packaged steak strips are displayed at a store in Washington, D.C., on Nov. 19, 2012. Tyson also plans to ramp a second shift back up at its Amarillo, Texas, plant as more cattle become available. (Andrew Harrer/Bloomberg via Getty Images)

The U.S. cattle herd has fallen to historically low levels due to drought reducing forage areas in key ranching regions, which forced ranchers to liquidate cattle. 

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Tyson highlighted those pressures during its recent earnings call, with CEO Donnie King saying, “Beef hasn’t performed the way we expected, and we’re not pretending otherwise.”

FOX Business’ Eric Revell contributed to this report.

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Earnings call transcript: Afya posts steady Q2 2026 growth as margins narrow

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Earnings call transcript: Afya posts steady Q2 2026 growth as margins narrow

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Expectations are high for new B&G Foods CEO

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Expectations are high for new B&G Foods CEO

Robert Mills has “deeper understanding of challenges and opportunities,” CFO says.

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Alithya Q1 F2027 slides: soft quarter prompts strategic review

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Alithya Q1 F2027 slides: soft quarter prompts strategic review

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Soluna Q2 2026 slides: 145% revenue surge masks profitability pressure

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Soluna Q2 2026 slides: 145% revenue surge masks profitability pressure

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Onex Corporation (ONEX:CA) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Operator

Welcome to Onex Second Quarter 2026 Conference Call and Webcast. [Operator Instructions] As a reminder, this conference call is being recorded.

And now I’ll hand the conference over to Zev Korman, Vice President, Shareholder Relations & Communications at Onex. Please go ahead, sir.

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Zev Korman
Vice President of Shareholder Relations & Communications

Thank you. Good morning, everyone. Thanks for joining us. We’re broadcasting this call on our website. Hosting the call today are Bobby Le Blanc, Onex’s Chief Executive Officer; and Meg McClellan, our Chief Financial Officer. Also joining today’s Q&A session is Paul Brand, Chief Executive Officer of Convex.

Earlier this morning, we issued our second quarter 2026 press release, MD&A and consolidated financial statements, which are available on the Shareholders section of our website and have also been filed on SEDAR. Our supplemental information package is also available on our website.

As a reminder, all references to dollar amounts on this call are in USD unless otherwise stated. I must also point everyone to our webcast presentation for our usual disclaimer and cautionary factors relating to any forward-looking statements contained in today’s presentation and remarks.

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With that, I’ll now turn the call over to Bobby.

Robert LeBlanc
CEO, President & Director

Good morning, everyone. I’d like to thank Convex’s CEO, Paul Brand, for joining Meg and me for this call and for being available to answer your Convex-related questions when we get to

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