Tag Archives: Stock

The July jobs report was so out-of-the-blue hot on Friday — coming in at more than double expectations — that it may spur the Federal Reserve to be way more aggressive on interest rate hikes than market goers thought just one day earlier. If so, would that set the table for a potential swift downdraft in stocks? “I think it does at the S&P level for the index,” Wall Street’s biggest bear strategist Mike Wilson of Morgan Stanley told Yahoo Finance (video above) when asked if on if the jobs… Source link

Tesla stock is inflated and could lose more than half of its value, according to Citi analyst Itay Michaeli. In a note to clients, Michaeli reiterated a sell rating on Tesla’s stock on with a $424 price target. Tesla stock traded around at $923 per share on Wednesday. The basis for Michaeli’s bold call involves skepticism related to Tesla’s autonomous driving technology and the view that Tesla’s stock — which is trading on a lofty forward P/E ratio of 76 times — is not factoring in a… Source link

Stocks finished lower on Tuesday following a volatile trading session that saw the Nasdaq gain over 1% at its highs and the Dow ultimately lose more than 1%. When the closing bell rang on Tuesday, the S&P 500 was down 0.66%, the Dow off 1.22%, and the Nasdaq down 0.16%. Stocks opened Tuesday’s session lower with traders citing rising U.S.-China tensions amid House Speaker Nancy Pelosi’s trip to Taiwan as the source of market stress. Stocks around the globe were lower overnight on Tuesday ahead… Source link

Pinterest (PINS) shares soared more than 12% on Tuesday following its quarterly results and support from activist hedge fund Elliott Management for the search-and-discovery platform’s new CEO Bill Ready. “Pinterest occupies a unique position in the advertising and shopping ecosystems, and CEO Bill Ready is the right leader to oversee Pinterest’s next phase of growth,” read a statement by activist investor Elliott Management, the company’s largest shareholder, with a 9% stake. Ready served… Source link

Editor’s Note: This post is breaking and will be updated IMAX (IMAX) reported its fiscal second quarter earnings on Thursday after market close as a healthy summer box office season helped the company deliver strong top-line growth, with revenue up 45% year-over-year. Here are IMAX’s second quarter results compared to Wall Street’s consensus estimates, as compiled by Bloomberg: “Doctor Strange in the Multiverse of Madness,” “Top Gun: Maverick” and “Jurassic World: Dominion” helped lift overall… Source link

Stocks opened Thursday’s trading session higher after new data showed the U.S. economy contracted for the second-straight quarter in Q2. Shortly after the opening bell, the S&P 500 and Nasdaq were up about 0.3%, while the Dow was up closer to 0.2%. Data from the Commerce Department out Thursday morning showed GDP growth fell at an annualized rate of 0.9% in Q2, marking the second-straight quarter we’ve seen a drop in economic activity. Thursday’s early move served as a continuation of sharp… Source link

U.S. stocks finished uninspiring session mixed on Monday as investors kick off the busiest week of the year for corporate earnings and economic data. When the closing bell rang, the S&P 500 was up 0.1%, the Dow gained 0.3%, and the tech-heavy Nasdaq was the laggard, falling some 0.4%. Last week, all three major indexes logged weekly advances with the S&P 500’s advance since mid-June lows coming in at about 8%. The Nasdaq has gained over 10% during this period. In the coming days, quarterly… Source link

Investors have breathed a sigh of relief up to this point in July as worst-case scenarios for the economy have failed to materialize. The Nasdaq Composite and S&P 500 are up an impressive 7.5% and 4.8%, respectively, so far this month. Shares of meme stock darlings GameStop and AMC have jumped 17% and 14.5%, respectively, as traders embrace the risk-on backdrop. Even 2022 laggard Netflix has seen its stock rise 25% month to date, even after another lackluster earnings report on July 19. Pros… Source link

Recession calls are growing by the day, but the stock market remains wary of fully pricing in this scenario for the economy. Despite enduring the worst start to a year since 1970, the benchmark S&P 500 (^GSPC) is still trading 13% above a widely-cited recessionary target of 3,400, which would mark a ~29% decline from the record high reached on January 3, 2022. In the average recession since World War II, the S&P 500 has dropped 31%. “Investors and business managers alike tend to play the hand… Source link

U.S. stock futures pointed to gains early Tuesday as investors geared up for another round of corporate earnings. Contracts on the benchmark S&P 500 index climbed 0.8% while futures tied to the Dow Jones Industrial Average added 200 points, or roughly 0.6%. Nasdaq futures rose 0.9%. Tuesday’s moves come after a rally in the previous session was reversed in the final hour of trading amid a report from Bloomberg News that indicated Apple (AAPL) plans to slow hiring and curb spending next year… Source link