---
title: "US Market Preview: PayPal plunges 15% on collapsed buyout; Warsh's Jackson Hole debut; Marvell drops despite beat"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/297322420.md"
description: "US stock futures point to a mixed open Friday. PayPal plunges 15% after Advent-Stripe consortium walks away from buyout. Fed Chair Kevin Warsh set to deliver his first Jackson Hole speech."
datetime: "2026-08-28T12:07:50.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/297322420.md)
  - [en](https://longbridge.com/en/news/297322420.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/297322420.md)
generator: "portal-rs"
---

# US Market Preview: PayPal plunges 15% on collapsed buyout; Warsh's Jackson Hole debut; Marvell drops despite beat

**Market Snapshot**

US stock futures pointed to a mixed open on Friday. As of writing, Dow Jones futures edged up 0.04%, Nasdaq 100 futures slipped 0.28%, and S&P 500 futures dipped 0.04%.

European markets traded broadly higher, with the German DAX up 0.49%, France's CAC 40 up 0.94%, the UK's FTSE 100 up 0.16%, and the Euro Stoxx 50 up 0.67%. WTI crude fell 0.60% to USD 83.03 per barrel, while Brent crude declined 0.44% to USD 88.13 per barrel. COMEX gold slipped 0.36% to USD 4,647.20 per ounce.

Semiconductor stocks came under pressure in premarket trading: $Marvell Technology(MRVL.US)$ dropped 8.30%, $Micron Technology(MU.US)$ fell 1.92%, and $Intel(INTC.US)$ declined 2.05%. $PayPal(PYPL.US)$ plunged more than 15% after its buyout deal collapsed, weighing on the broader fintech sector. $Apple(AAPL.US)$ bucked the trend with a 0.55% gain, while $Tesla(TSLA.US)$ added 0.14%.

**Pre-market Turnover TOP20**

1\. $Nvidia(NVDA.US)$ — USD 239 million, down 0.56%  
2\. $Marvell Technology(MRVL.US)$ — USD 184 million, down 8.30%  
3\. $Micron Technology(MU.US)$ — USD 176 million, down 1.92%  
4\. $SanDisk(SNDK.US)$ — USD 130 million, down 2.33%  
5\. $Apple(AAPL.US)$ — USD 90.26 million, up 0.55%  
6\. $Berkshire Hathaway-B(BRK.B.US)$ — USD 78.74 million, up 0.06%  
7\. $Nasdaq 100 ETF - Invesco(QQQ.US)$ — USD 78.01 million, down 0.27%  
8\. $Strategy(MSTR.US)$ — USD 74.98 million, down 1.33%  
9\. $PayPal(PYPL.US)$ — USD 74.53 million, down 15.49%  
10\. $Semiconductor 3x Long - Direxion(SOXL.US)$ — USD 68.74 million, down 3.32%  
11\. $S&P 500 ETF - SPDR(SPY.US)$ — USD 64.51 million, flat  
12\. $Tesla(TSLA.US)$ — USD 58.73 million, up 0.14%  
13\. $US Investment Grade Corporate Bond - iShares(LQD.US)$ — USD 58.73 million, down 0.05%  
14\. $Intel(INTC.US)$ — USD 55.83 million, down 2.05%  
15\. $Procter & Gamble(PG.US)$ — USD 51.52 million, up 0.37%  
16\. $SpaceX(SPCX.US)$ — USD 41.67 million, down 0.36%  
17\. $Semiconductor 3x Short - Direxion(SOXS.US)$ — USD 40.63 million, up 3.53%  
18\. $Moderna(MRNA.US)$ — USD 39.26 million, down 0.06%  
19\. $IREN(IREN.US)$ — USD 36.94 million, down 6.39%  
20\. $Quoin Pharmaceuticals(QNRX.US)$ — USD 34.72 million, up 42.39%

**Stock News**

**1\. PayPal plunges over 15% in premarket after Advent-Stripe consortium abandons buyout**

$PayPal(PYPL.US)$ plunged more than 15% in premarket trading to USD 51.95. According to Bloomberg, citing people familiar with the matter, a consortium led by private equity firm Advent and payments company Stripe has walked away from its plan to acquire PayPal. The group had previously proposed a buyout at USD 60.50 per share, valuing the deal at roughly USD 53 billion. The prospect of a takeover was the primary driver behind PayPal's roughly 50% rally from its June lows. With the deal now off the table, the market is refocusing on PayPal's fundamentals — transaction margins remain under sustained pressure and branded checkout growth is stuck in the low single digits. Retail investor sentiment flipped to bearish following the news.

**2\. Marvell tumbles over 8% in premarket: earnings beat but Google collaboration revenue pushed to fiscal 2029**

$Marvell Technology(MRVL.US)$ dropped 8.30% in premarket trading to USD 221.41. The company reported second-quarter revenue of USD 2.74 billion and adjusted earnings per share of USD 0.94, both slightly ahead of consensus. Third-quarter revenue guidance also came in above analyst estimates. However, management clarified on the earnings call that meaningful incremental revenue from the Google collaboration may not materialize until fiscal 2029. Coupled with the stock's year-to-date surge of more than 230%, the rich valuation left the market unsatisfied with merely in-line results. Analysts noted that at 82 times earnings, simply beating estimates is no longer enough to support the share price.

**3\. Quoin Pharmaceuticals soars over 42% in premarket**

$Quoin Pharmaceuticals(QNRX.US)$ soared 42.39% in premarket trading to USD 7.34, making it the top premarket gainer. The small-cap pharmaceutical stock has relatively low premarket liquidity; the surge may be linked to a specific catalyst, and investors should be mindful of volatility risk.

**4\. IREN slides over 6% in premarket: Q4 results miss as AI transition costs bite**

$IREN(IREN.US)$ fell 6.39% in premarket trading to USD 37.94. The company reported fourth-quarter results that missed expectations. While AI cloud revenue has already surpassed Bitcoin mining revenue and 2026 capacity is largely sold out, the near-term costs of transitioning to an AI cloud services provider are weighing on profitability. The company has delivered its first liquid-cooled GPU deployment to Microsoft and expanded its customer base to include hyperscalers, AI developers, and frontier labs.

**5\. Apple's Mac strategy underscores quiet AI winner positioning**

$Apple(AAPL.US)$ edged up 0.55% in premarket trading to USD 316.32. Media reports highlighted that Apple is quietly emerging as a winner in AI by focusing on desktop AI rather than making heavy bets on cloud infrastructure. Upgraded Mac Mini and Mac Studio models equipped with enhanced M-series chips cater to developers seeking affordable, private, and high-performance local AI processing. The strategy drove Mac revenue up 29% to USD 10.4 billion in the third quarter, with major clients such as Disney opting for Apple's solution due to concerns over cloud costs and intellectual property security.

**6\. Google launches Gemini Omni 1.1 Flash video generation model**

$Alphabet-C(GOOG.US)$ Google has released its Gemini Omni 1.1 Flash video generation model. The new version adds video continuation capabilities, generating 10 seconds per clip with consecutive extensions up to 40 seconds, and introduces start-and-end frame control. It also features a cheaper 360p draft mode that improves throughput by 60% at roughly one-third the cost of 720p, with the ability to upscale to 1080p or 4K later. The move further intensifies competition in the AI video generation space.

**7\. Tesla Semi delivery timeline emerges: roughly 75 units this year**

$Tesla(TSLA.US)$ inched up 0.14% in premarket trading to USD 355.31. The CEO of Swedish freight-tech company Einride confirmed that Tesla plans to deliver roughly 75 Semi trucks by the end of 2026, with the remaining 500 units of the initial order expected by the end of 2027. The delivery timeline follows Tesla's recent ramp-up of Semi production at its Nevada facility.

**8\. TSMC commands 73% of pure-play foundry market in Q2**

$TSMC(TSM.US)$ According to Counterpoint Research, the global pure-play foundry market grew 29% year-over-year in the second quarter. TSMC topped the ranking for a second consecutive quarter with a 73% market share, far ahead of Samsung at 7% and SMIC at 5%. Driven by capacity adjustments and price increases, industry utilization rates are expected to remain elevated through the second half of 2026.

**Global Macro**

**1\. Fed Chair Warsh to deliver Jackson Hole debut; markets on high alert**

Federal Reserve Chair Kevin Warsh is set to deliver his first keynote speech since taking office at the Jackson Hole Economic Policy Symposium at 10:00 ET Friday (22:00 CST). Warsh has previously pledged to use the speech to frame the big questions facing the Fed, but the market broadly expects no explicit near-term policy guidance. Divisions within the Warsh-led Fed on interest rates persist, while stubbornly elevated inflation continues to complicate the outlook for rate cuts. UBS economists wrote in a note: We do not expect Chair Warsh's Jackson Hole speech to provide forward guidance.

**2\. University of Michigan Consumer Sentiment Index due for release**

At 22:00 CST, the US will release the final August reading for the University of Michigan Consumer Sentiment Index, Consumer Expectations Index, Current Conditions Index, and the 1-year and 5-year median inflation expectations. The data will arrive simultaneously with Warsh's speech, offering the market the latest read on how consumers view inflation and the economic outlook.

**3\. China's central bank adds gold for 21st straight month, building yuan-gold loop**

As of end-July 2026, the People's Bank of China's gold reserves reached 2,366 tonnes, marking 21 consecutive months of accumulation. The Shanghai Gold Exchange has established offshore delivery warehouses in Hong Kong and launched yuan-denominated contracts. An S&P report noted that China is building a global gold network to advance the yuan's internationalization, providing international investors with diversified asset allocation channels and reducing reliance on the dollar system.

**Economic Calendar**

US Macro Calendar  
(All times in CST)

22:00 University of Michigan Consumer Sentiment Index  
22:00 University of Michigan Consumer Expectations Index  
22:00 University of Michigan Current Conditions Index  
22:00 University of Michigan 1-Year Inflation Expectations  
22:00 University of Michigan 5-Year Inflation Expectations (YoY)

Earnings Calendar

No major US earnings reports scheduled for today.

### Related Stocks

- [PYPL.US](https://longbridge.com/en/quote/PYPL.US.md)
- [MRVL.US](https://longbridge.com/en/quote/MRVL.US.md)
- [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md)
- [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md)
- [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md)
- [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md)
- [INTC.US](https://longbridge.com/en/quote/INTC.US.md)
- [IREN.US](https://longbridge.com/en/quote/IREN.US.md)
- [QNRX.US](https://longbridge.com/en/quote/QNRX.US.md)
- [MU.US](https://longbridge.com/en/quote/MU.US.md)
- [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md)
- [MSTR.US](https://longbridge.com/en/quote/MSTR.US.md)
- [TSM.US](https://longbridge.com/en/quote/TSM.US.md)
- [MRNA.US](https://longbridge.com/en/quote/MRNA.US.md)
- [PG.US](https://longbridge.com/en/quote/PG.US.md)
- [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md)

## Related News & Research

- [Why Options Traders Are Betting That Marvell Technology Stock Could Soon Hit $300](https://longbridge.com/en/news/297224319.md)
- [5 Stock Picks Last Week From Wall Street's Most Accurate Analysts](https://longbridge.com/en/news/297506318.md)
- [Nvidia Just Invested $3.5B in a Major Qualcomm Rival's AI Chips. Here's What Traders Need to Know.](https://longbridge.com/en/news/297658987.md)
- [Marvell President and COO Chris Koopmans disposes of 10,000 shares worth $2.03 million](https://longbridge.com/en/news/297826180.md)
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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**