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Applied Materials saw its IBD SmartSelect Composite Rating jump to 97 Thursday, up from 94 the day before.
The tech giant reported strong fourth-quarter results, including its best quarterly sales growth in more than a decade.
Shares of Chinese electric-vehicle maker Nio (NYSE: NIO) opened sharply lower in U.S. trading on Monday amid a broad market sell-off triggered by rising global tensions and interest rate fears ahead of a key U.S. Federal Reserve meeting. As of 10:15 a.m. ET, Nio's American depositary shares were down about 11.9% from Friday's closing price. Nio was just one of many companies that saw their shares hit hard in early trading on Monday.
Americans are wondering what's amiss with Wall Street after steep declines in stocks and a surge in bond yields in recent weeks. Here's how to think about it.
Once again, semiconductor stock Nvidia (NASDAQ: NVDA) is leading tech stocks lower as its shares had slumped 6.6% by 10:25 a.m. ET today. The most obvious answer is that investors are favoring "cheap" semiconductor stock Intel (NASDAQ: INTC) over "expensive" semiconductor stock Nvidia today, especially because Intel had some good news to report last week. On Friday, Intel announced that it has chosen to locate two new chip factories near Columbus, Ohio, picking the city from a field of 40 locations that had competed for the investment.
In case you hadn't noticed yet, the stock market kind of curled up in a ball and died today. Of particular interest to growth investors today is the fact that some of the fastest growing e-commerce stocks in the world are going on sale, with shares of MercadoLibre (NASDAQ: MELI) down 8.6%, Shopify (NYSE: SHOP) falling 10%, and Sea Limited (NYSE: SE) leading the pack lower with a 12.3% loss. As it turns out, Shopify is the only one of the three with any obvious news on the wires, and even that news isn't too awfully bad.
On yet another miserable day for stock markets, shares of fuel cell stocks are getting hurt harder than most on Monday. In particular, shares of Bloom Energy (NYSE: BE) are down 10.2% and FuelCell Energy (NASDAQ: FCEL) is seeing a 10.8% decline as of 11:45 a.m. ET. Plug Power (NASDAQ: PLUG), probably the best-known stock in the industry, is leading the others lower at the same time -- down 12.6%.
Tilray Brands (NASDAQ: TLRY) is the top marijuana producer in Canada and has set its sights on growing its presence in the U.S. and internationally. Tilray needs it to be legal. Towards the end of the company's earnings call, Simon expressed doubt that the U.S. will legalize marijuana and that it could be well into 2024 before it might happen.
This morning, shares of Tesla, Rivian Automotive (NASDAQ: RIVN), and zero-emission semitruck maker Nikola (NASDAQ: NKLA) are all experiencing much steeper drops than the technology-filled Nasdaq Composite index. As of 11:12 a.m. ET, Tesla stock was down 6.6%, having recovered from a previous 10% drop. Rivian shares were near the day's low of 10.1%, and Nikola was down 7%.
Artificial intelligence promises to be one of the most transformative technologies of our time, and Upstart is proof.
Shares in aviation giant Boeing (NYSE: BA) fell by nearly 6% in early trading on Monday. First, there's the broad market decline and the perception that Boeing is one of the companies particularly exposed to the risks that the market is concerned about right now. Meanwhile, China still hasn't fully approved the 737 MAX to return to service.
Shares of Netflix (NASDAQ: NFLX) were sliding today after a Jefferies analyst downgraded the company's stock from a buy rating to hold and cut his price target from $737 down to $415. Making matters worse, the broader stock market is experiencing a massive sell-off today as investors expect the Federal Reserve to raise interest rates in the coming months. Netflix's stock fell by as much as 11% today and was down by 5.7% as of 1:52 p.m. ET.
Revenue at the consulting business, a segment where IBM competes with Accenture Plc and SAP, rose 13.1% to $4.75 billion. The 110-year-old company has doubled down on the high-growth software and consulting businesses to boost stagnating revenue, after shedding its former managed infrastructure business in November following years of growth and margin pressures. In its new business model, software and consulting make up about 70% of total revenue, with the company now reporting in new segments to reflect its focus areas.
There were several catalysts for the sell-off, including rising interest rates and geopolitical concerns. Traders and investors seemed eager to exit high-risk positions, a category that includes many EV-related stocks. Cenntro Electric Group (NASDAQ: CENN) was down about 10.5%.
The fall for electric vehicle charging stocks has been steep over the past year, and I don't think we're done with the sell-off yet. You can see below that ChargePoint Holdings (NYSE: CHPT), Blink Charging (NASDAQ: BLNK), and EVgo Inc (NASDAQ: EVGO) are all down over 30% in the past year and still declining.
Shares of Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Meta Platforms (NASDAQ: FB) were all sliding today as investors continue to dump technology stocks in anticipation that the Federal Reserve will raise interest rates throughout 2022. Today's drop comes as tech stocks have been tumbling since the beginning of this year as investors have processed information about rising bond yields as well. Amazon was down by 2.2%, Apple had dropped 2.7%, and Meta Platforms tumbled 2.8% as of 11:37 a.m. ET.
Markets are down significantly from record highs; in fact, the NASDAQ has entered correction territory, with a decline of 15% while the S&P 500’s decline is still at ~9%. These price declines come as the Federal Reserve signaled it will be raising rates this year. While higher interest rates will knock down inflation, stock markets are likely to take a tumble when the hikes come – and analysts are predicting anywhere from 2 to 4 rate hikes this year. The end of the central bank’s supportive poli
Shares of the special purpose acquisition company (SPAC) Digital World Acquisition (NASDAQ: DWAC) were down more than 15% at 11:40 a.m. EST today for no obvious reason other than a general decline in the broader market, which is having a tough day today. Digital World Acquisition announced late last year that it intends to merge with and take public Trump Media & Technology Group, which is the parent company of Truth Social, a yet-to-launch social media company backed by former President Donald Trump. Truth Social says on its website that it encourages "an open, free, and honest global conversation without discriminating against political ideology."
Ocugen, Inc. ( NASDAQ:OCGN ) is possibly approaching a major achievement in its business, so we would like to shine...
As inflation has gained traction in the last year, commentators constantly remark about how it is particularly hard on retirees who live on a “fixed income.” Retirees do not live on fixed incomes. The 60% of households in the lower portion of the income distribution receive the bulk of their retirement income from Social Security (see Table 1).
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