The latest market news & Insights
NVIDIA Shares Decline as Pledge to OpenAI Investment Undergoes Scrutiny
NVIDIA shares fell early Monday as investors considered the company’s plan to make a large investment in OpenAI, the maker of ChatGPT. The stock dropped 2.3% to $186.81 in morning trading. Focus has shifted to the relationship between Nvidia and OpenAI after a report on Friday said talks for Nvidia to invest up to $100 […]
Market Insights
Fed Raises Key Rate by 50 Basis Points as Inflation Rages
The U.S. Federal Open Market Committee (FOMC) raised its key policy rate by a half-percentage-point on May 4th to battle higher inflation. In its second interest rate hike since the start of the COVID pandemic, the Federal Reserve (the Fed) increased the Federal Funds Target rate to an upper bound of 1%. This is the […]
Stock Market Slides Again as Inflation and Interest Rate Angst Increases
The stock market resumed its slide post yesterday’s rally induced by Fed Chairman Jerome Powell’s speech. Despite reassurances that the Fed would raise rates in a steady and predictable manner, fears that inflation arising from elevated commodity prices could force the Fed to tighten more quickly weighed on investor sentiment today. The Nasdaq 100 Index […]
LYFT Craters On Weak COVID Recovery
LYFT shares tanked, down 25% to $23, after reporting ridership and revenue metrics which missed Wall Street forecasts. The company posted first quarter revenue which topped estimates, coming in at $876 million, versus the $846 expected. However, it guided to revenue of $975 million for the second quarter, which was short of the $1.02 billion […]
AMD Posts Strongest Revenue Figure in Its History
AMD produced a stellar first quarter earnings report, beating estimates across the board. A strong data-center chip market and improved margins meant that adjusted earnings came in at $1.13, versus 47¢ a year ago and the 92¢ estimate. The company also completed the acquisition of the data-center powerhouse Xilinx in the quarter, which allowed revenue […]
BP Reports Highest Quarterly Cash Flow in Almost 8 Years
BP shares soared as much as 8% after the company reported strong first quarter earnings. Despite a $25.5 billion charge due to its exit from its Russian joint venture with Rosneft, the company also increased its share buyback program by $2.5 billion. The company recorded adjusted EPS of 32¢, 44% ahead of the consensus EPS […]
Amazon and Google share hard times since the 2008 Financial Crisis
Tech giants Amazon and Alphabet (Google’s parent company) have experienced an all-time low in the markets since the Financial Crisis of 2008. The month of April saw a precipitous drop in shares of 23.8% and 18% for Amazon and Alphabet respectively, a repeat of November 2008 history when both companies simultaneously saw declines of 25.4% […]
Stocks & Bonds Both Selloff During April
Monthly Market Summary Federal Reserve Policy Remains a Headwind for Equity & Credit Markets April was another difficult month for both stock and bond markets. The S&P 500 Index traded -8.8% lower during the month, while the Bloomberg Bond U.S. Aggregate Index traded -3.8% lower. Federal Reserve policy remains the driving force as the central […]
Alphabet makes a $70 Billion repurchase
Google’s parent company, Alphabet, in a much-anticipated bid to return capital into the hands of its shareholders via share repurchases, has gotten the approval for $70 billion in buybacks from its Board of Directors. This is a significant milestone for the company in 2022, as 2021 and 2019 had seen authorizations of $50 and $25 […]
Apple’s Stellar March Quarter May Have Distracted From Upcoming Troubles
By all accounts, Apple reported possibly the best results from a technology company in this tumultuous earnings season. The company registered a beat on most of the financial metrics expectations from the sell-side analyst community. Second quarter earnings beat estimates, coming in at $1.52 versus an expected EPS of $1.42. Sales grew almost 9% year […]
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