More than two years of observation with Chandra and XMM-Newton has provided a rich harvest of new results on the physics of stellar coronae and winds. High-resolution X-ray spectroscopy in particular has opened new windows to the structure, the dynamics and the composition of stellar atmospheres. The present paper presents selected results from the areas of hot and cool stars and star formation, summarizing new views of the thermal structure and energy release in stellar coronae, observations of magnetically active brown dwarfs, the structure of winds in hot stars, the physics in colliding-wind binary systems, and X-rays from protostars and stellar jets.