Tag Archives: Stock

Netflix stock (NFLX) is at a 7-month high after three straight sessions of gains, buoyed by bullish investor sentiment surrounding the streaming platform’s newly launched ad-supported tier. Shares of the media giant, down roughly 50% since the start of the year, have climbed nearly 60% over the past six months. The stock rose about 3% in premarket trading on Tuesday. The ad plan, dubbed “Basic with Ads,” rolled out on November 3 with a price tag of $6.99 a month in the U.S. — just below… Source link

U.S. stock futures started the week on a downbeat note early Monday as Wall Street hinges on another round of earnings from the retail sector. Futures tied to the S&P 500 (^GSPC) inched lower by 0.3% in premarket trading, while futures on the Dow Jones Industrial Average (^DJI) ticked down by 0.2%. The technology-heavy Nasdaq Composite (^IXIC) declined by as much as 0.4%. Stocks on Friday ended the week with their biggest gains in months, with lighter inflation data sparking hopes among… Source link

AMD may be in the position to gain market share in the competitive chip space. Baird analyst Tristan Gerra upgraded AMD stock to Outperform in a new note. Gerra sees the stock popping 35% to $100. The stock gained 2% in pre-market trading to nearly $74. Gerra thinks AMD’s new Genoa chips, released last week, will further widen its competitive moat. “Supply chain checks highlight strong reception of Genoa (5nm Zen 4) at data center OEMs, which are shifting significant resources in support of… Source link

U.S. stocks extended a dramatic ascent on Friday after deceleration in CPI inflation data ignited the most intense rally on Wall Street since early 2020. The S&P 500 (^GSPC) rose 1%, while the technology-heavy Nasdaq Composite (^IXIC) gained 2%. The Dow Jones Industrial Average (^DJI) turned positive heading into the close after lagging behind the other indexes for much of the session. Treasury yields held steady following their steepest one-day decline Thursday in more than a decade. A Source link

In something of a change this earnings season, an electric carmaker (other than Tesla) actually reported a profit for the quarter. Polestar (PSNY), the Swedish-based company backed by Volvo and China’s Geely, reported its first gross profit as a public company since completing its SPAC merger earlier this year. For the quarter, Polestar reported: Though Polestar did miss on the top line, sales were up 105% for the quarter versus last year, and it was enough to eke out a $4 million gross… Source link

Rivian (RIVN) stock jumped after hours as the electric adventure vehicle maker reported a narrower loss than expected loss for the third quarter, and also reaffirmed its full-year production forecast and financial outlook. For the quarter Rivian reported revenue of $536 million, missing estimates of $561.1 million, and reported an adjusted EPS loss of $1.57 a share, smaller than the expected loss of $1.86. More importantly for investors, the company said it would still hit its 25,000 vehicle… Source link

U.S. stocks plummeted Wednesday after three days of gains, as investors mulled over a mixed verdict from the midterm election results and highly anticipated inflation data looms on the docket. The S&P 500 (^GSPC) shed over 2%, while the Dow Jones Industrial Average (^DJI) fell by nearly 650 points, or roughly 2%. The technology-heavy Nasdaq Composite (^IXIC) dragged down by almost 2.5%, or 260 points. Investors’ optimism during stocks’ three-day rally was built on expectations that… Source link

Tesla (TSLA) slipped today following disclosure of another stock sale from CEO Elon Musk, with the shares now down nearly 49% year to date. In a filing submitted with the SEC on Tuesday, Musk declared he sold around 19,500,000 shares over the course of three days in November, worth around $3.95 billion. The latest sale comes only a few days after Musk closed his deal to buy Twitter on October 27, in a deal worth $44 billion. It is unclear how much outside equity and personal money Musk has… Source link

Meta’s (META) supersized layoffs unveiled on Wednesday could serve up a major profit tailwind. “We believe Meta’s decision to lower the midpoint of FY23 total expense and capex guides by $1.5 billion and $1 billion, respectively, should provide a minimum 8% boost to FY23 EPS [earnings per share],” Jefferies Tech Analyst Brent Thill wrote in a note to clients. Meta said Wednesday it will slash 13% of its workforce, more than 11,000 employees, as it looks to redirect resources to Mark… Source link

Wall Street is growing more cautious on the outlook for corporate profits amid persistent inflation and rising interest rates, and Mr. Market may be starting to take notice. Down goes profits. Fourth quarter earnings estimates for the S&P 500 have tanked 4.9% since Sept. 30, according to new research from Credit Suisse strategist Jonathan Golub. Energy profits remain strong. The downward revisions have been most acute in the tech space as the sector deals with slowing growth, which has led to… Source link