Credo's "Record-Breaking" Revenue

And, Hyperliquid continues to surge.

June 03, 2025

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Today is Tuesday, June 3, 2025.

The Early Bird Index today is 81.48

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Credo's "Record-Breaking" Revenue

Credo Technology Group $CRDO ( ▲ 6.31% ) , which provides high-speed connectivity for data centers, jumped 12.53% in after-hours trading on Monday after posting strong financial earnings results.

Financials: Credo Technology reported earnings of 35 cents per share and revenue of $170 million in the past quarter. Both were better than expected.

Powering the Story: Revenue in the quarter increased 25.9% since the previous quarter and 179.7% year-over-year. For the full year, revenue increased 126%.

Quote: “The Company delivered record-breaking financial results…The Company’s results were fueled by surging demand for our innovative, reliable, and energy-efficient high-performance connectivity solutions.” - CEO Bill Brennan.

Early Bird’s Nest Egg Gains: Credo’s results are not occurring in isolation. The company’s revenue surge reflects broader trends in the technology and semiconductor sectors.

  • Hyperscale data centers are rapidly expanding to support AI workloads, driving demand for these types of connectivity solutions.

  • There is also increased demand for high-speed, energy-efficient connectivity offerings.

Final Thoughts: Investors with Credo were hoping for strong results. The stock was down 11% this year.

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Notables

Notable Earnings Today: CrowdStrike Holdings (Nasdaq: CRWD), Dollar General (NYSE: DG), NIO (NYSE: NIO), Hewlett Packard Enterprise (NYSE: HPE), Asana (NYSE: ASAN), Signet Jewelers (NYSE: SIG), Ollie's Bargain Outlet (Nasdaq: OLLI), Ferguson (NYSE: FERG), Yext (NYSE: YEXT), Guidewire Software (NYSE: GWRE), Couchbase (Nasdaq: BASE), Donaldson (NYSE: DCI), HealthEquity (Nasdaq: HQY), Mama’s Creations (Nasdaq: MAMA), National Energy Services Reunited (Nasdaq: NESR), Sportsman’s Warehouse Holdings (Nasdaq: SPWH).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Gemini Bottle Co. (SMBX).

Notable Economic Events Today: JOLTS Job Openings (10:00 a.m. ET), Factory Orders (10:00 a.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Hyperliquid Continues to Surge

The price of the cryptocurrency Hyperliquid jumped about 6% on Monday, continuing a powerful trend that began in May.

Price: Hyperliquid is now up over 69% in the last 30 days.

Powering the Story: What’s driving Hyperliquid’s growth recently? The broader crypto market rally and stronger market sentiment appear to be fueling it, but there are also other factors at play. There is a notable rotation among traders toward DeFi projects such as Hyperliquid.

Final Thoughts: While Hyperliquid just had its best month ever due to surging trading volume, investors should be aware that altcoins such as Hyperliquid can be volatile.

Merck Reportedly Tried to Buy Swiss Biotech

Pharmaceutical giant Merck $MRK ( ▲ 1.47% ) reportedly tried to buy Swiss biotech company MoonLake Immunotherapeutics $MLTX ( ▲ 5.15% ) for more than $3 billion in talks that occurred earlier this year, according to a report on Monday from the Financial Times. The companies have not confirmed the report.

Final Thoughts: MoonLake’s stock jumped 19.05% in after-hours trading due to the report.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.