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On Wednesday and week before its Detroit-rival General Motors (NYSE: GM) scheduled its second-quarter earnings results, Ford Motors (NYSE: F) raised its outlook for the year after delivering a surprising second-quarter profit. Upon the news, its stock was up by about 4% in after-hours trading. Q2 Figures Due to the ongoing global shortage of semiconductor chips which continues to disrupt production, the revenue of $24.13 billion slightly missed expectations. Ford revealed it lost production of… Source link

(Bloomberg) — Robinhood Markets Inc. wanted to make history with its initial public offering, and now it has — for the wrong reason. Shares in the broker behind the meme-stock revolution fell 8.4% below the IPO price in the company’s first trading session. That’s the worst debut on record among 51 U.S. firms that raised as much cash as Robinhood or more, according to data compiled by Bloomberg. It dethroned the 2007 IPO by another brokerage, MF Global Holdings Ltd., as the worst debut… Source link

Tech juggernaut Amazon (AMZN) reported its Q2 2021 earnings after the closing bell on Thursday, missing expectations on revenue and falling short on Q3 guidance. Here’s are the most important numbers from Amazon’s report compared to analysts’ expectations as compiled by Bloomberg. Revenue: $113.08 billion versus $115.06 billion expected EPS: $15.12 versus $12.22 expected AWS revenue: $14.81 billion versus $14.18 billion expected Amazon’s stock was off as much as 5% following the earnings… Source link

Advanced Micro Devices (AMD) torched analyst forecasts again for the second quarter, in large part fueled by robust demand for chips for gaming consoles, PCs and servers.  “The demand for computing is just exploding everywhere,” AMD CEO Dr. Lisa Su said on Yahoo Finance Live. “I think whether it’s in PCs where you are working from home, schooling from home or returning to office, people want better devices and particularly in the data center, where there is just an incredible need for more… Source link

Robinhood shares began trading Thursday under the ticker HOOD, opening on the public markets at $38 per share. The shares had also been priced at $38. In the first half hour, the stock dropped around 5% to around $36. The stock was expected to be priced between $38 and $42, coming in at the lower end of the range, and giving the company a valuation of $32 billion.  The investing app offers a simple and mobile-first way for investors to buy stocks, ETFs, and even cryptocurrency and played a… Source link

Retail investors have upended conventional market dynamics in 2021, showing institutional investors and hedge funds that they are a force to contend with. “The one dynamic that will change is, I think, big institutionally-driven hedge fund players will not get out over their skis the way that Archegos did,” Keith Bliss, a former NYSE trader and president of Capital2Market, told Yahoo Finance (video above). “But what the instructive part of that whole episode was that these bigger… Source link

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)    * Ford, Qualcomm rise after strong earnings    * Didi Global jumps on report it could go private    * Banks, industrials, mining stocks gain after dovish Fed    * Futures: Dow up 0.41%, S&P adds 0.17%, Nasdaq down 0.17% (Adds comments; updates prices)    By Sagarika Jaisinghani    July 29 (Reuters) – The S&P 500 and the Dow indexes were set to rise on Thursday as a… Source link

The interest appears to be building for Ford’s first-ever all-electric F-150 dubbed the Lightning. Ford (F) has amassed 120,000 orders for the Lightning, CEO Jim Farley told investors on an earnings call Wednesday evening. About 75% of the orders are from those people new to the Ford brand, Farley said.  In late May, Ford said it had 70,000 orders for the Lightning. “I would say what we’ve learned so far [from Lightning orders] is that the customers are largely new to Ford, but they aren’t new… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, July 29, 2021 Things happen in markets, according to the Fed chair The Federal Reserve wrapped up its latest two-day policy meeting on Wednesday, and offered investors a few surprises.  As Yahoo Finance’s Brian Cheung notes, the Fed’s statement and subsequent press conference from Fed chair Jerome Powell “hinted that the U.S. economic… Source link

Stock futures searched for direction Wednesday evening amid a mixed batch of corporate earnings results and a Federal Reserve decision that signaled the central bank was still looking for the U.S. economy to recover further before adjusting its monetary policies. Contracts on the S&P 500 edged slightly lower. The index ended the regular session in the red but hovered less than 0.5% below its recent all-time closing high. Contracts on the Dow rose, while those on the Nasdaq dipped. Shares of… Source link