|Day's Range||2,681.09 - 2,733.16|
|52 Week Range||2,532.69 - 2,940.91|
Tempted to buy tech stocks during the dip? This analyst argues tech stocks may not be the best choice.
There is a shift in the tone at the Fed during speeches over the last week. Yahoo Finance's Julie Hyman, Adam Shapiro, Andy Serwer and Gabriela Santos Gabriela Santos - JPMorgan Global Market Strategist discuss.
Stocks around the world slid Tuesday, extending the latest wave of selling as pressure intensified on the global technology sector. Falling automotive stocks combined with the pressure on Asia-Pacific technology equities to send share prices across the region tumbling.
Shares of Western Digital Corp. are down 5% in premarket trading Tuesday after Susquehanna analyst Mehdi Hosseini downgraded the stock to neutral from positive. He also lowered his price target to $44 from $120, writing that he's "lost confidence in Western Digital's ability to benefit from [solid-state-drive] substitution of [hard-disk drives]." Hosseini is also skeptical of the company's "ability to manage the downturn" into the next calendar year amid downbeat predictions for the NAND pricing trajectory. "Western Digital is not as 'protected' as other NAND vendors that have more stable high-margin DRAM streams," he wrote. "Said another way, Western Digital competitors Micron, Hynix and Samsung all have higher margin DRAM businesses (currently 60%+ gross margin) which can to some extent offer a cushion for more aggressive NAND gross-margin declines, and help minimize the decline in blended gross margins." Also on Tuesday, Baird analyst Tristan Gerra cut his rating on Micron Technology Inc. shares to underperform from outperform. Micron's stock is off nearly 7% in premarket trading Tuesday. Western Digital shares have lost half their value over the past 12 months, as of Monday's close, while Micron shares have tumbled 23% in that time. The S&P 500 is up 4.2% over the past year.
Treasuries advanced with gold and the dollar edged higher. Contracts on major U.S. equity indexes pointed to declines at the open, with megacap tech shares set to lead the move. The Stoxx Europe 600 Index fell a fifth day as its technology sector headed toward a bear market.
Investing.com - Shares of Target (NYSE:TGT) plunged in premarket trade Tuesday, after the retailer reported fiscal third-quarter results that missed expectations.
Investing.com - Lowe’s (NYSE:LOW) reported third quarter earnings that beat analysts' expectations on Tuesday and revenue that topped forecasts.
U.S. financial markets are closed on Thursday for the Thanksgiving Day holiday. But the market has another reason to be thankful on Friday.
Barnes & Noble Inc. reported a fiscal second-quarter net loss of $27.4 million, or 38 cents per share, after a loss of $30.1 million, or 41 cents per share, last year. Sales totaled $771.2 million, down from $791.1 million. Same-stores fell 1.4%, which, the company highlighted, is the best performance since the fourth quarter of fiscal 2016. The FactSet consensus was for a loss of 41 cents, sales of $772 million, and a same-store sales decline of 1.8%. Barnes & Noble share are up 0.6% in Tuesday premarket trading, and up nearly 1% for the year to date. The S&P 500 index is up 0.6% for 2018 so far.
The TJX Cos. (TJX) on Tuesday reported fiscal third-quarter earnings of $762.3 million. The Framingham, Massachusetts-based company said it had net income of 61 cents per share. Earnings, adjusted for ...