|Day's Range||3,378.83 - 3,392.20|
|52 Week Range||2,722.27 - 3,392.20|
Headlines moving the stock market in real time.
Virgin Galactic stock is up about 200% year to date. That's even better than Tesla. The reasons, however, remain as mysterious as the stars.
CEO Larry Culp sounded cautious about General Electric's first-quarter cash flow at an investor conference , but the market doesn't appear concerned.
The Dow Jones Industrial Average rose 160 points, or 0.6%. The S&P 500 gained 0.6%, and the Nasdaq Composite was up 1%.
Apple recently warned it wouldn’t be able to achieve its revenue guidance for the current quarter, citing the coronavirus impact. But not many other companies have changed their guidance because of the virus.
The company said it was getting out of the business of selling physical items and that it had approved a reverse stock split.
U.S. homebuilding fell less than expected in January while permits surged to a near 13-year high, pointing to sustained housing market strength that could help keep the longest economic expansion in history on track. Other data on Wednesday showed producer prices increasing by the most in more than one year last month, boosted by rises in the cost of services such as healthcare and hotel accommodation. The reports could support the Federal Reserve's desire to keep interest rates unchanged at least through this year after lowering borrowing costs three times in 2019.
Shares of SolarEdge Technologies Inc. shot up 12.4% toward a record high in active midday trading Wednesday, after Cascend Securities Chief Investment Strategist Eric Ross raised his price target by 17% ahead of the solar power company's fourth-quarter earnings report due out after the close. The stock has run up 28.1% just this year, while the S&P 500 has gained 4.9%. Ross kept his rating at buy but raised his stock price target to $140 from $120. "Storage is gathering real momentum across all makers--starting to become standard," as Tesla Inc.'s home battery Powerwall has made it "sexy," and as solar power storage systems are growing in consumer applications, Ross wrote in a note to clients. And for commercial projects, Ross said his data shows that inverter pricing continued is growth from last year, with pricing reflecting "strong demand combined with nicely balanced supply." SolarEdge is expected to report fourth-quarter earnings of $1.05 a share, up from 27 cents a share ago, according to FactSet, with sales expected to grow 57% to $413.8 million. SolarEdge has missed EPS expectations the past four quarters, but has beaten revenue forecasts for every quarter since it went public in March 2015.
Investors have central bank liquidity to thank - or blame - for the “everything rally” that’s chugging along despite the global viral epidemic in the 11th year of a U.S. economic expansion.
The S&P 500 and Nasdaq hit new intraday records on Wednesday as investors were encouraged by measures China says it has taken to help coronavirus-stricken businesses, giving a lift to U.S. and global equities.
Amid tough times in the industry, Diamondback Energy, Concho Resources, and Devon Energy all raised their payouts late Tuesday.
The Zacks Analyst Blog Highlights: Jack in the Box, TPG Specialty Lending, Nordson, Hormel Foods and Builders FirstSource
The Zacks Analyst Blog Highlights: Smith Micro Software, Accuray, Vista Outdoor, Synaptics and CareDx
If the outbreak turns into a global pandemic, it could cost the global economy $1.1 trillion in 2020, warns Oxford Economics.
Some parked Boeing 737 MAX jets were found to have foreign objects in their fuel tanks. The news opens up questions for investors such as whether that is typical, and how the debris got there.
Renaissance Technologies, added more than 3 million shares of Tesla to its holdings in the fourth quarter of last year, as the electric-vehicle maker’s shares catapulted higher, according to public filings.