The e-commerce and cloud-computing company’s shares rose as much as 5.3% as of 9.35 am on Monday, adding to the raucous rally last week following second-quarter earnings that showed accelerating cloud-computing revenue. Amazon joins Nvidia, Alphabet, Microsoft and Apple as the only companies that have reached that size.

Amazon had been mired in a selloff for much of the last three months as investors soured on shares of companies that had committed to spending billion of dollars on artificial intelligence. Its stock sank nearly 18% between its May 6 record and the three-month low it hit last month.

Those fears were eased last week after the firm reported that revenue for its Amazon Web Services unit last quarter jumped by the most since 2021. Shares surged more than 15% in response, their biggest one-day jump in more than 14 years, to add nearly $400 billion in value.

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That propel Amazon as the best-performing Magnificent Seven stock this year. The gauge of its big tech peers has struggled this year, gaining only 2.1% compared to a 10% gain for the S&P 500 Index.
While the rally has lifted Amazon’s valuation from the 17-year low it hit in late March, it’s still below where it has traded historically. At roughly 25 times forward earnings for the next 12 months, the stock is about 44% cheaper than its average over the last decade.It took Amazon just over two years to reach a market capitalisation of $3 trillion after first hitting $2 trillion in June 2024. That’s faster than the more than six years between that milestone and when it first hit $1 trillion in late 2018.

Wall Street remains upbeat on Amazon’s long-term prospects too. The average analyst price target calls for the stock to rise about 14% over the year from where it currently trades, according to data compiled by Bloomberg.

Shares of Kraken Robotics Inc. advanced more than 9% in early European trading Monday, reflecting continued investor focus on the company’s expanded scale and strong order momentum following its largest acquisition to date. The stock traded near 3.85 euros on the Frankfurt exchange under the ticker 2KQ.

Kraken, a Canadian provider of underwater robotics, synthetic aperture sonar, subsea batteries and related marine technologies, closed its acquisition of Covelya Group Limited on July 2 for approximately 615 million Canadian dollars. The deal brought together Sonardyne, EIVA, Forcys, Voyis and Chelsea Technologies, creating a broader portfolio of mission-critical subsea intelligence solutions spanning sonar, navigation, positioning, imaging, power systems and data analytics.

Management promptly updated its 2026 financial guidance to reflect the transaction’s contribution. Consolidated revenue is now expected in the range of 290 million to 320 million Canadian dollars, nearly double the prior standalone outlook of 165 million to 175 million dollars. Adjusted EBITDA guidance was raised to 65 million to 75 million dollars. Revenue is anticipated to be weighted toward the second half of the year as integration progresses.

On July 20 the company announced an additional 35 million dollars in new product orders from customers in maritime defense, offshore energy and ocean science. The awards covered navigation and positioning systems, multi-aperture sonar, monitoring systems from the Covelya businesses, and synthetic aperture sonar systems from Kraken. Combined with earlier bookings, total announced product orders for Kraken and Covelya on a combined basis reached approximately 327 million dollars year-to-date in 2026.

“Our product portfolio forms the backbone of a wide range of platforms used across both defence and commercial applications and we expect it to represent over 75% of consolidated revenue in 2026,” Chief Executive Officer Greg Reid said in the July 20 statement. The products are integrated or being integrated across more than 30 autonomous underwater vehicle platforms worldwide, as well as crewed vessels, uncrewed surface vessels and remotely operated vehicles.

Demand has been particularly strong for Kraken’s SeaPower subsea batteries, which offer higher energy density and lower weight compared with traditional systems, enabling longer-endurance missions for unmanned underwater vehicles. Synthetic aperture sonar systems used for high-resolution seabed imaging, mine countermeasures and critical infrastructure inspection have also contributed significantly. Covelya’s navigation, positioning and advanced sonar technologies have added complementary strength in defense and commercial markets.

The combined group now operates with a larger global footprint and deeper relationships in the fast-growing defense and maritime surveillance sectors. Management has identified approximately 10 million dollars in cost synergies expected within 24 months. Leadership changes accompanied the closing, including the appointment of Bernard Mills as president and the addition of former Covelya executives to key roles.

Kraken reported first-quarter 2026 results in late May showing revenue of 21.7 million dollars, up 35% year over year, with product revenue rising 50% on battery and sonar demand. At that time the company reiterated its then-standalone guidance and noted strengthening order intake ahead of the Covelya close. Second-quarter results, which will begin to reflect the enlarged business, are scheduled for late August.

The company has expanded manufacturing capacity, including a new 60,000-square-foot battery facility in Nova Scotia, to support anticipated growth in unmanned underwater vehicle power systems. Dual-use technologies serving both defense and commercial customers position Kraken to benefit from rising global investment in autonomous maritime systems, mine warfare modernization and offshore energy infrastructure protection.

Despite the operational progress, the share price has experienced volatility since the acquisition announcement and closing. The stock remains well below its March peak even after the recent advance. Investors are monitoring integration execution, margin performance and the conversion of the substantial order backlog into recognized revenue. The company has indicated plans to apply for a listing on the Toronto Stock Exchange, subject to meeting applicable requirements.

Market participants are also watching broader trends in underwater autonomy and defense spending. Programs focused on mine countermeasures, critical underwater infrastructure protection and large autonomous underwater vehicles continue to generate procurement activity across North America, Europe, the Middle East and the Asia-Pacific region. Kraken’s platform-agnostic approach and expanded technology suite are intended to capture a larger share of these opportunities.

With a record order book, updated growth targets and the Covelya integration underway, Kraken enters the second half of 2026 with greater scale and visibility than at any prior point in its history as a public company. The upcoming second-quarter report will provide the first formal look at combined operations and will be closely examined for evidence that the enlarged product portfolio and customer base are translating into sustained financial performance.

MSCI’s gauge for Asian shares gained, with South Korea’s Kospi index rising almost 2%. The S&P 500 Index climbed 1.5%, finishing within striking distance of a record.

Equity-index futures for the Nasdaq 100 Index rose 0.3% after a Wall Street rally that saw a gauge of megacaps post its best day since March. Palantir Technologies Inc. jumped 14% in extended trading after raising revenue and income forecasts. Elsewhere, Amazon.com shares fell as much as 1.9% in postmarket trading after Chair Jeff Bezos filed to sell shares.

The yen held steady through the New York trading session after a sharp advance earlier sparked speculation authorities may have intervened to support the currency again after last week’s coordinated action between the US and Japan. The currency traded at 157.33 per dollar in early Asian trading.

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Cooling tensions in the Middle East sent oil lower and spurred a rally in bonds Monday. Brent edged higher to $84.10 per barrel as President Donald Trump said current negotiations were Iran’s “last chance” after calling off a planned attack. The Treasury 10-year yield dropped six basis points to 4.68% in the previous session.
Monday’s revival in US technology shares offered investors some relief, even as uncertainty in the Middle East and lofty AI valuations kept caution elevated. The next test comes with another busy week of corporate earnings, as investors look for evidence that heavy spending on AI is translating into stronger growth and profits.“Earnings will remain the primary focus, with roughly 15% of the S&P 500 by market capitalization scheduled to report,” said Matt Orton, chief market strategist at Raymond James Investment Management.

In the US, of the 307 S&P 500 companies that have reported so far this season through Friday, 86% beat analysts’ forecasts for EPS. On sales, 68% of companies have positively surprised, while 15% missed.

SpaceX’s inaugural report as a public company is due on Tuesday. It’s also set the stage for one of the largest share unlocks in capital markets history, with as much as $116 billion worth of stock becoming eligible for sale for the first time next month. Elon Musk’s company has fallen below its IPO price, closing on Monday at $114.46.

Still, the on-again, off-again nature of US-Iran diplomacy may mean earnings and jobs data will have to do the heavy lifting for the bulls this week, according to Chris Larkin at E*Trade from Morgan Stanley.

In the countdown to a slew of jobs figures, data showed US manufacturing activity expanded in July at the fastest pace in more than four years as demand remained strong, production surged and firms added workers.

Forces that propelled US stocks to record highs this year remain “firmly intact” after a reset in retail investors’ speculative trading, according to Citadel Securities’s Scott Rubner.

“Markets are transitioning from a flow-driven environment back to one increasingly dictated by earnings, corporate demand, and the macroeconomic backdrop,” he wrote.

BOSTON — Country music star Zac Brown surprised more than 35,000 fans at Fenway Park on Sunday by announcing that every attendee would receive a free cruise for two, a giveaway the singer described as the biggest live gift in history and valued at more than $40 million in total.

The announcement came during the Zac Brown Band’s “Love & Fear” concert, the group’s record-breaking 15th consecutive sold-out performance at the iconic ballpark. Brown made the declaration just before launching into the song “Same Boat,” framing the gesture as a personal thank-you to supporters and a celebration of the milestone.

“Tonight we’re going to do something even Jimmy would say is crazy,” Brown told the crowd, referring to his late friend Jimmy Buffett. “I’m buying every single person here a cruise for two people on the boat. Every single person here gets a cruise for themselves and a loved one.”

A message then appeared on the large screens flanking the stage with instructions on how to claim the trips. Brown urged fans to help one another, including those who might have been celebrating, and stressed the authenticity of the offer.

“This is for real now,” he said. “I’m not kidding around.”

The cruises, provided through Margaritaville at Sea, must be claimed by midnight Sunday and can be redeemed on select sailings over the next year. The partnership centers on the brand-new Beachcomber ship, set to debut in January 2027. That vessel will feature “Same Boat,” a first-of-its-kind artist-curated live music venue at sea co-designed by Brown and named after his 2021 collaboration with Buffett. The venue is intended to serve as the ship’s central live entertainment hub.

Margaritaville at Sea CEO Christopher Ivy welcomed the collaboration. “We were honored to work alongside Zac to help bring this incredible surprise to life for his fans,” Ivy said. “This was an extraordinary way to thank the fans who have supported him throughout his career, and we’re proud to have helped make that incredible vision a once-in-a-lifetime reality.”

The scale of the gift set it apart from previous efforts on the Love & Fear Tour, where Brown had limited cruise giveaways to four per show. Boston received the full-audience treatment as recognition of the band’s long-standing connection to Fenway Park. Brown has repeatedly expressed affection for performing at the venue, referencing it multiple times during the evening.

Fenway Park, home of the Boston Red Sox since 1912, has become a frequent stop for major concert acts in recent years. The ballpark’s intimate scale and historic atmosphere have drawn artists seeking a distinctive outdoor stage. For the Zac Brown Band, the string of 15 consecutive sellouts underscores sustained popularity in the Northeast and the strength of the group’s live draw more than a decade and a half after its commercial breakthrough.

Brown’s career has been defined by a blend of country, Southern rock and jam-band influences, along with entrepreneurial ventures that extend beyond music. His restaurants, outdoor lifestyle brand and previous collaborations with Buffett have positioned him as both a performer and a lifestyle figure. The cruise giveaway continues that pattern of blending entertainment with experiential rewards for fans.

Audience reaction mixed immediate excitement with some disbelief. One concertgoer turned to a companion and expressed astonishment at the announcement. Others celebrated more quietly while focusing on the music that followed. Fans who had attended previous Zac Brown Band shows at the park noted that the gift marked a significant departure from the usual concert experience of leaving with only a ticket stub or merchandise.

The logistics of distributing tens of thousands of cruise credits required coordination between the band’s team and Margaritaville at Sea. Fans were directed to a digital signup process accessible via QR code displayed during the show. The one-day window for registration added urgency to the moment and helped ensure the offer remained limited to those present.

Industry observers noted that large-scale giveaways at major venues remain rare because of cost and complexity. Most concert promotions involve limited tickets, merchandise or experiences for a small number of winners. Providing a multi-day vacation to every ticket holder represents a different order of magnitude and reflects both the artist’s resources and the commercial value of a deep partnership with a cruise operator launching a new ship.

The Beachcomber’s “Same Boat” venue is expected to host live performances that align with Brown’s musical style and the relaxed, tropical aesthetic associated with the Margaritaville brand. By co-designing the space, Brown extends his creative involvement beyond a one-time sponsorship into the ongoing operation of the ship’s entertainment program.

Sunday’s show continued a busy period for the Zac Brown Band on the road. The Love & Fear Tour has mixed large amphitheaters and stadiums with more intimate dates, allowing the group to maintain the extended jams and collaborative spirit that distinguish its live performances. Fenway has repeatedly proven a reliable and high-energy stop on that circuit.

For Boston-area fans, the combination of a sold-out night at a beloved venue and an unexpected high-value gift created a memorable evening. Many left discussing not only the setlist but the practical details of claiming and planning the free trips. Some first-time cruise-goers said they would explore the option, while others with family obligations noted the need for childcare before committing.

The announcement also highlighted the enduring commercial power of live music. Even as streaming dominates recorded music consumption, major artists continue to generate significant revenue and goodwill through concerts and direct fan engagement. High-profile gestures such as this one can reinforce loyalty and generate widespread media attention that extends the reach of a single performance far beyond the stadium walls.

Brown’s reference to Buffett carried particular resonance. The late singer’s Margaritaville empire helped popularize a lifestyle brand built around music, relaxation and island imagery. By partnering with the cruise line that carries the Margaritaville name and by naming a venue after a shared song, Brown linked his current project to that legacy while creating a new platform for live music at sea.

As the Love & Fear Tour continues, the Fenway giveaway is likely to stand as one of its defining moments. For the more than 35,000 people who attended, the evening offered both a full concert experience and a tangible, high-value souvenir that most will be able to redeem in the coming year. The combination of musical performance, historic venue and unprecedented generosity produced a night that fans are expected to discuss for years.

In an era when concert ticket prices and additional fees have drawn scrutiny, artists who find creative ways to give value back to their audiences can strengthen the connection that sustains long careers. Brown’s decision to treat an entire stadium audience as winners rather than selecting a handful of lucky fans represented a clear statement of appreciation for the people who have filled Fenway seats 15 times in succession.

The practical details of redemption, the debut of the Beachcomber, and the opening of the “Same Boat” venue will unfold over the next 18 months. For now, the immediate story remains the scale of the gesture itself: one of the largest single-concert giveaways on record, delivered with little advance fanfare and aimed squarely at the people who showed up.