Business
AXT Shares Jump Nearly 14% as Semiconductor Materials Maker Rebounds on AI-Linked Indium Phosphide Demand
Shares of AXT Inc., a Fremont, California-based maker of compound semiconductor substrates, surged Monday morning, continuing a volatile run for a stock that has become one of the more closely watched names tied to the artificial intelligence infrastructure buildout over the past year.
AXT shares were trading at $64.73, up $8.11, or 14.32 percent, as of 9:52 a.m. Eastern time, according to Yahoo Finance data. The move came after a difficult stretch for the stock, which had fallen roughly 40 percent over the prior 30 days even as its year-to-date gain remained substantial, with shares up more than 280 percent since the start of 2026 as of recent trading, according to data from Simply Wall St.
AXT manufactures compound and single-element semiconductor substrate wafers made from materials including indium phosphide, gallium arsenide and germanium, which are used in applications ranging from data center optical connectivity and 5G infrastructure to satellite communications, lidar systems and infrared sensors. The company has increasingly positioned itself as a supplier to the broader artificial intelligence infrastructure buildout, given the role its indium phosphide substrates play in high-speed optical networking components used in AI data centers.
The stock’s recent volatility has been shaped by a combination of company-specific developments and broader index-related trading activity. Late last month, AXT’s subsidiary, Beijing Tongmei Xtal Technology, known as AXT-Tongmei, entered into a three-year master development and supply agreement with Coherent Corp. to develop and supply six-inch indium phosphide wafer substrates, a deal that included a $22.29 million prepayment from Coherent to help fund expanded production capacity. That agreement, announced June 25, was cited by analysts as a significant driver of investor interest in the stock in the days that followed.
AXT shares also moved sharply in connection with a reconstitution of the Russell family of stock indexes, with the company gaining inclusion in the Russell 2000, Russell 2500, Russell 3000 and several related growth benchmarks, while exiting certain microcap and value indices it had previously belonged to. Index-related additions of this kind can generate significant buying pressure as funds that track those benchmarks are required to adjust their holdings accordingly, a dynamic that analysts said contributed to some of the stock’s recent price swings independent of company-specific news.
The company has also taken steps to raise additional capital to support its expansion plans. Shareholders approved an increase in AXT’s authorized common stock from 70 million to 120 million shares at the company’s annual meeting, a move that followed an underwritten public stock offering expected to raise approximately $550 million before expenses. That capital raise is intended to support the company’s efforts to scale up production capacity to meet growing demand for its substrate materials.
Wall Street analysts have grown increasingly bullish on AXT’s prospects in recent months. Northland Capital Markets raised its price target on the stock to $125 from $90 earlier this year while reiterating an Outperform rating, citing the company’s exposure to indium phosphide demand tied to AI and optical networking growth. Other analysts have pointed to AXT’s improving financial performance as additional support for the bullish case, with the company’s first-quarter 2026 results showing revenue of $26.9 million, up 39 percent from the prior-year period, alongside a net loss of $1.62 million that narrowed 82 percent compared with the same quarter a year earlier.
Despite the bullish analyst sentiment, some investors and analysts have raised concerns about AXT’s valuation following its dramatic rally. According to a recent analysis from Simply Wall St, the stock trades at a price-to-sales ratio of roughly 43 to 48 times, compared with an average of approximately 9.2 times for the broader U.S. semiconductor industry and roughly 5 times for AXT’s direct peer group. That analysis noted that the company’s fair-value price-to-sales ratio, based on its growth profile, margins and risk factors, would suggest a multiple closer to 18.9 times, indicating that the stock may be pricing in significant future growth that has yet to materialize in current financial results.
Insider selling activity has also drawn attention amid the stock’s rally. According to data compiled by Quiver Quantitative, AXT insiders, including chief executive Morris Young and chief financial officer Gary Fischer, have engaged in dozens of open-market stock sales over the past several months without any corresponding insider purchases, a pattern that some market watchers view as a note of caution even amid otherwise positive sentiment toward the company’s growth story.
AXT has continued to expand its customer base and secure additional long-term agreements in recent months. In addition to the Coherent deal, the company’s Tongmei subsidiary previously entered into a long-term supply agreement with Nanjing Casela Technologies, further building out its roster of contracted customers within the compound semiconductor materials market. The company has scheduled its second-quarter 2026 earnings release for July 30, with a conference call to follow the same day, an event that analysts said will provide further clarity on how the company’s recent supply agreements and capacity expansion plans are translating into financial results.
AXT’s stock has experienced a particularly wide trading range over the past year, with its 52-week low sitting at $1.85 and its 52-week high reaching $143.16, according to data from Robinhood, reflecting the significant volatility that has characterized the stock as investor sentiment around AI-linked semiconductor materials companies has fluctuated throughout 2026. The company’s shares touched an intraday high of $65.49 and a low of $59.35 during Monday’s session, with trading volume of approximately 2.25 million shares, below the stock’s average daily volume of roughly 10.55 million shares.
With the broader market watching closely for signs of how sustainable the current enthusiasm around AI infrastructure spending will prove to be, AXT’s stock movement Monday reflects the broader pattern of heightened volatility among smaller companies positioned at the center of the artificial intelligence supply chain, where rapid share price gains have frequently been followed by sharp pullbacks as investors weigh long-term growth potential against near-term execution risk and elevated valuations.
Business
Wall Street closes higher as chip stocks rally
The S&P 500 and Nasdaq have ended sharply higher, with Broadcom and other chip stocks rallying as investors bought shares in companies related to artificial intelligence that are expected to drive a strong second-quarter earnings season.
Business
Form 4 Symbotic Inc For: 6 July

Form 4 Symbotic Inc For: 6 July
Business
Starbucks App Down Now? App for Hundreds of Users Nationwide Down Today
Starbucks customers across the United States reported widespread problems with the company’s mobile app on Monday morning, with outage-tracking site Downdetector logging more than 1,700 complaints as users struggled to log in, place mobile orders and access their rewards accounts.
According to Downdetector.com, reports of the Starbucks app not working began climbing early Monday, with 1,712 reports logged as of 8:04 a.m. Eastern time. The disruption appeared concentrated in several major metropolitan areas, with reports centered around the Chicago, Washington, D.C., and New York City regions, though users in other parts of the country also flagged issues throughout the morning.
Separate monitoring from StatusGator, which tracks outages across thousands of cloud services and applications, confirmed ongoing problems with the Starbucks app into the late morning. The service detected an outage with the app described as “currently unavailable” as of 11:32 a.m. Eastern time, logging 25 user-submitted reports of issues within the preceding 24-hour period. As of the latest available data, Starbucks had not issued an official acknowledgment of the outage on its status channels, according to StatusGator’s tracking.
News of the disruption spread quickly on social media, with the account Status Is Down posting early Monday morning asking followers whether they were experiencing problems with the app, a post that quickly gathered thousands of views as the hashtags #Starbucks and #StarbucksDown began trending among affected customers. Frustrated users took to social platforms throughout the morning to report being unable to log into their accounts, place mobile orders, or access previously loaded rewards and gift card balances.
The outage adds to a pattern of recurring technical issues that have affected the Starbucks app periodically throughout 2026. In May, the app experienced a separate outage that began around 4:30 p.m. Eastern time, generating close to 600 complaints on Downdetector at the time, with more than 90 percent of reported problems tied specifically to the mobile app rather than the company’s website.
The Starbucks app has become an increasingly central part of the company’s customer experience in recent years, supporting core functions including Mobile Order and Pay, the company’s Rewards loyalty program, personalized offers, and, as of May 11, 2026, a newly introduced scheduled ordering feature that allows customers in North America to select a future pickup time rather than placing an order for immediate preparation. That expanding reliance on the app means outages tend to have an outsized impact on customer experience compared to a typical service glitch, since disruptions can simultaneously affect ordering, payment processing and rewards tracking all at once.
Common troubleshooting guidance published by consumer support resources notes that Starbucks app problems generally fall into a handful of recurring categories, including weak internet connections, outdated app versions, expired login sessions, payment method errors and temporary server-side outages. Signs that a problem originates on Starbucks’ end rather than an individual user’s device typically include repeated failures across multiple devices, widespread reports from other customers experiencing the same issue, and simultaneous problems with the company’s website in addition to the app. When those broader signs are present, technical guides generally advise waiting for the issue to resolve on Starbucks’ side rather than repeatedly retrying transactions, since repeated failed payment attempts can sometimes create additional complications with a customer’s bank or account history.
For customers unable to resolve app issues on their own, Starbucks directs users to its customer service website at customerservice.starbucks.com, which offers support through phone and live chat channels. The company’s general customer support line remains available at 800-STARBUCKS, or 800-782-7282, for those seeking direct assistance with account, payment or ordering problems.
As of Monday afternoon, Starbucks had not issued a public statement addressing the scope, cause or expected resolution timeline for the outage. The company has not historically provided detailed public explanations for individual app disruptions, and it remains unclear whether Monday’s issues stemmed from a broader technical failure, a surge in user traffic, or a more localized problem affecting specific app functions such as login authentication or payment processing.
The disruption comes at a particularly high-traffic time of day for the coffee chain, as many customers rely on the app each morning to place orders ahead of commutes or workplace arrivals. Mobile ordering has become one of the primary ways many Starbucks customers interact with the company, particularly in dense urban markets like the ones where Monday’s outage reports were most concentrated, meaning even a relatively short disruption can meaningfully affect both customer experience and in-store operations as baristas and store managers work to accommodate customers who are unable to complete mobile orders.
Downdetector, which aggregates self-reported outage data from users rather than official company disclosures, cautioned in its general methodology that reported issue counts reflect user submissions and public data sources such as social media activity, meaning the true scope of an outage can sometimes differ from the number of individual reports logged at any given time. Even so, the volume of complaints recorded Monday morning, along with independent confirmation from a second outage-tracking service, suggested the disruption affected a meaningful number of customers attempting to use the app during the morning hours.
Starbucks has not indicated whether affected customers will receive any compensation, such as reward points or promotional offers, as a result of Monday’s outage, a step the company has occasionally taken following past disruptions to its digital ordering systems. Customers experiencing ongoing issues with the app are advised to check for available software updates, verify their internet connection, and confirm that their payment methods remain valid and correctly entered, before reaching out to Starbucks’ customer service channels if problems persist.
As of the most recent outage tracking data available Monday, reports of app issues appeared to be continuing into the late morning hours, though it remained unclear whether the disruption represented an isolated technical glitch or a more extended service interruption. Starbucks customers are encouraged to monitor the company’s official app status and customer service channels for updates as the situation develops.
Business
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United Therapeutics: Trifecta Of 2026 Tyvaso Franchise Filings Makes It A Compelling Buy
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DRAM: Buckle Up As The AI Memory Bottleneck Peaks
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Form 4 Kinder Morgan Inc For: 6 July

Form 4 Kinder Morgan Inc For: 6 July
Business
Check your freezer: Publix recalls frozen blueberries sold in 8 states
‘Big Money Show’ co-host Dagen McDowell critiques the Federal Reserve’s approach to inflation, drawing parallels to Alan Greenspan’s rate hikes in 1999 and 2000 that led to the dot-com bubble’s collapse.
Consumers who shop at Publix are being urged to check their freezers after one lot of GreenWise Organic IQF Blueberries was voluntarily recalled over concerns it may be contaminated with E. coli.
Chile-based supplier Frutas y Hortalizas del Sur S.A. announced the recall on July 3 after receiving reports of illnesses among consumers who had eaten the product, according to a recall notice posted by Publix.
The recalled blueberries were distributed to Publix stores in Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee and Virginia.
FDA UPGRADES POPULAR POTATO CHIP RECALL TO HIGHEST RISK OVER SALMONELLA

Chile-based supplier Frutas y Hortalizas del Sur S.A. announced the recall on July 3 after receiving reports of illnesses among consumers who had eaten the product, according to a recall notice posted by Publix. (Getty Images)
The recall applies only to 10-ounce GreenWise Organic IQF Blueberries with lot code 60401 and a best-by date of Feb. 9, 2028. No other lot codes or best-by dates are included in the recall.

The recall applies only to 10-ounce GreenWise Organic IQF Blueberries with lot code 60401 and a best-by date of Feb. 9, 2028. (Stefan Sauer/picture alliance via Getty Images)
According to the recall notice, there have been reports of 12 confirmed illnesses associated with E. coli O145:H28 infections reported between May 11 and June 5.
E. coli O145 is a Shiga toxin-producing strain of the bacteria that can cause severe stomach cramps, diarrhea that may be bloody and vomiting. While most healthy people recover within about a week, infections can lead to a serious complication known as hemolytic uremic syndrome, particularly in young children, older adults and people with weakened immune systems.

Blueberries grow on a bush in the fields of Agrargesellschaft Chemnitz mbH in Rottmanshagen. (Stefan Sauer/picture alliance via Getty Images)
Consumers who have the affected blueberries should not eat them and should either discard the product or return it to the place of purchase for a full refund, according to the recall notice.
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Frutas y Hortalizas del Sur S.A. said it has instructed customers who received the affected lot to remove it from distribution while it works with regulators and retail partners. The company said it is investigating the source of the potential contamination and will provide additional information as it becomes available.
Business
No Winner in July 4 Powerball Drawing as $402 Million Jackpot Climbs to $416 Million for Monday’s Drawing
LANSING, Mich. — No one matched all six numbers in Saturday’s Powerball drawing, allowing the jackpot to roll over and grow to an estimated $416 million ahead of Monday night’s drawing, according to lottery officials.
The winning numbers drawn Saturday, July 4, were 17, 38, 46, 50 and 69, with a Powerball number of 20 and a Power Play multiplier of 2. No ticket matched all five white balls plus the red Powerball, meaning the jackpot, which had stood at an estimated $402 million heading into the drawing, will carry over to Monday’s drawing with an estimated value of $416 million, or a lump-sum cash option of $186.6 million.
While no one claimed the top prize, the drawing was not without significant winners. No player matched all five white balls, which would have secured a $1 million prize, but seven players matched four white balls plus the Powerball while also participating in the optional Power Play add-on, each winning $100,000, the largest individual prize awarded in Saturday’s drawing.
In total, 626,323 players across the country won at least $4 in the July 4 drawing, with combined prize payouts exceeding $4.6 million, according to figures released by lottery officials. The results reflect the wide range of smaller prize tiers built into the Powerball game, which rewards players for matching as few as the Powerball number alone or a single white ball plus the Powerball.
Powerball’s jackpot was last won on May 2, 2026, when the $20 million prize was split between two winning tickets, one sold in Florida and the other in Texas. Since that win, the jackpot has been steadily climbing across successive drawings without a winner, building toward the $416 million prize now on offer for Monday night’s drawing.
Powerball is played in 45 states, along with Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Tickets cost $2 each, and players select five white ball numbers ranging from 1 to 69, along with one red Powerball number ranging from 1 to 26. Players can also opt to pay an additional $1 per ticket for the Power Play feature, which multiplies non-jackpot winnings by a randomly selected factor, in this case 2, for Saturday’s drawing.
Michigan has a notable recent history with the nation’s major lottery jackpots. The last Michigan players to win a Mega Millions or Powerball jackpot were members of the so-called Breakfast Club lottery pool, who claimed an $842 million Mega Millions jackpot in June 2024, the largest prize ever won by a Michigan ticket holder in either game. Members of that group have said they intend to use part of their winnings to purchase a home in Florida and to travel.
Lottery officials have also used past cases to remind players of the importance of checking tickets promptly after a drawing. A Powerball ticket worth $250,000 sold in Bloomfield Hills, Michigan, in 2024 went unclaimed after the deadline for prize redemption passed, sending the money instead to the state’s School Aid Fund rather than to a winning ticket holder. State lottery rules generally set firm deadlines for claiming prizes, after which unclaimed winnings are redirected to state education or public funds depending on the jurisdiction in which the ticket was purchased.
Powerball drawings are held three times a week, on Mondays, Wednesdays and Saturdays, giving players regular opportunities to try for the jackpot as it continues to grow between wins. Jackpots begin at a guaranteed minimum and increase based on ticket sales and the number of consecutive drawings that pass without a grand prize winner, a dynamic that has pushed Monday’s prize to its current estimated $416 million value following Saturday’s rollover.
The odds of winning the Powerball jackpot remain long, standing at approximately 1 in 292.2 million for any individual ticket, according to the game’s official odds chart. Odds for smaller prize tiers are considerably more favorable, ranging from roughly 1 in 38 for matching only the Powerball number to 1 in 913,129 for matching all five white balls without the Powerball, the tier that would have resulted in a $1 million prize had any ticket in Saturday’s drawing achieved that combination.
Powerball operates alongside Mega Millions as one of the two major multistate lottery games played across most of the country. Mega Millions’ most recent jackpot, drawn July 3, was valued at $542 million, reflecting a similarly active stretch for both major lottery games as jackpots in each have continued to build in recent weeks without a grand prize winner.
Players interested in participating in Monday’s Powerball drawing can purchase tickets through authorized retailers in any of the states or territories where the game is offered, with sales typically cutting off shortly before each scheduled drawing time. Ticket buyers are encouraged to check the official Powerball website or their state lottery’s official platform for exact cutoff times, as these can vary slightly by jurisdiction.
For Michigan players specifically, additional information on ticket sales, past winning numbers and other lottery games, including instant tickets and raffles, is available through the Michigan Lottery’s official website. Lottery officials in Michigan and other participating states continue to encourage players to sign and safeguard their tickets immediately after purchase, given that unsigned or lost tickets can complicate the prize claims process, particularly for larger winnings that require in-person verification at state lottery offices.
With no jackpot winner from Saturday’s drawing, attention now turns to Monday night, when Powerball players across the country will have another opportunity to claim the growing prize, now standing at an estimated $416 million with a cash option of $186.6 million, before the numbers are drawn and the cycle either resets with a new winner or continues to climb toward the next drawing later in the week.
Business
Oribe shampoo recalled over possible bacteria contamination
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A luxury shampoo is being recalled nationwide due to concerns the product may be contaminated with bacteria, according to the Food and Drug Administration.
Kao USA Inc. is voluntarily recalling select lots of Oribe Serene Scalp Densifying Shampoo in the U.S. and Canada after Pluralibacter gergoviae bacteria was found during testing.
The company said Oribe Serene Scalp Densifying Shampoo in 8.5-ounce and 33.8-ounce sizes that were manufactured between Feb. 21, 2026 and Feb. 26, 2026 could be impacted.
FDA UPGRADES POPULAR POTATO CHIP RECALL TO HIGHEST RISK OVER SALMONELLA

A woman shampooing her hair in the shower. (Getty Images)
FRUIT SOLD AT MAJOR GROCERY CHAIN RECALLED AFTER 12 SICKENED WITH E. COLI
The 8.5-ounce bottle costs $52, according to the Oribe website.
AFFECTED PRODUCTS
- Oribe Serene Scalp Densifying Shampoo 8.5-ounce bottle (UPC 840035231242), lot code YR010556
- Oribe Serene Scalp Densifying Shampoo 33.8-ounce bottle (UPC 840035231273), lot codes YR010566 and YR010576
Affected lot codes are found on the bottom of the bottle printed in black.
The FDA said Pluralibacter gergoviae bacteria pose “little medical risk” to healthy people, but “those with certain health issues such as weakened immune systems may be more susceptible to infection by the bacteria.”

The 8.5-ounce bottle costs $52, according to the Oribe website. (Getty Images)
CHICKEN CAESAR WRAPS SOLD IN 2 STATES MAY CONTAIN DEADLY LISTERIA, USDA WARNS
“We are working with the FDA to voluntarily recall the affected lots of the product in question from our warehouses,” Kao USA said in a statement. “We are also asking retail and salon partners to remove affected lots from use and/or sale and return them to us for safe disposal.”
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The FDA said Pluralibacter gergoviae bacteria pose “little medical risk” to healthy people. (Sarah Silbiger/Getty Images)
Anyone who has the affected products should stop using them, Kao USA said in the recall announcement.
The company said consumers can contact the Kao Professional Hair Technical Hotline by phone or email to arrange for a replacement or to report adverse events experienced when using the product.
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