The latest market news & Insights
IBM Shares Fall as CEO Doubles Down on Quantum While Market Stays Skeptical
At New York Tech Week on Tuesday, IBM’s CEO made his strongest argument so far that quantum computing is real, ready for business, and closer than most people think. Even as Arvind Krishna called quantum the next step after CPUs and GPUs and promised a $10 billion investment over five years, IBM shares dropped along […]
Market Insights
Nike Shares Drop Despite Sales Beat as Inventories Swell
NKE Global fitness apparel maker Nike’s shares were trading lower this morning after the company reported earnings and margins that missed investors’ expectations. Despite beating revenue and for the fiscal first quarter of 2023, the company said a sharp increase in inventories during the period resulted with the company having to offer more promotions, which […]
CarMax Shares Tank Over 21% After Earnings Miss
KMX Car dealership company CarMax provided weak fiscal second quarter results and shares were trading down 21% in the mid-morning session. The company was also hit by multiple downgrades and price-target reductions by notable sell-side analysts. Automobile retailers had performed relatively well during the pandemic as both used and new vehicle prices surged, but current […]
Apple Shares Decline – Here’s Why
AAPL Apple Inc., the world’s largest firm by market capitalization, is rumored to have decreased its production plans after an anticipated flood in demand for the company’s new iPhone 14 family line has thus far failed to arrive. Shares were down 4% in the morning trading session on the back of the rumors. Despite the […]
Casino Stocks Surge on Macau Reopening
LVS, WYNN, MLCO, MGM U.S. listed casino stocks were jumping this morning after Macau’s government said it would allow tour groups from mainland China to resume trips to the resort island starting in early November. were self-inflicted. Shares in Melco Resorts were up 32.6%, Las Vegas Sands by 13.4%, Wynn Resorts by 14.5% and MGM […]
Credit Suisse Shares Tank on Reports of Capital Raise
CS Shares in the iconic Swiss investment bank, Credit Suisse, fell to all-time lows today after reports emerged that the bank may be looking to raise capital to shore up its financial position. The capital raise could come in the form of share sales. The bank has faced numerous scandals and challenges in the past […]
Robinhood Shares Rise After SEC Set to Keep Payments for Order Flow
HOOD Robinhood shares are up 2% in the morning trading session after the stock market regulator in the United States, the Securities and Exchange Commission, was rumored to allow brokerages to keep taking payments for order flow, or PFOF. Shares in the company were last exchanging hands around $10.25, which would mean shares are down […]
Fed Raises Key Rate by 75 Basis Points for the Third Time, Indicates a Fourth 0.75% Move
The U.S. Federal Open Market Committee (FOMC) raised its key policy rate by three-quarters of a percentage on September 21st to battle higher inflation. In its fifth 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 3.25%. Short-term […]
Ford Shares Are Falling – Here’s Why
Ticker Symbol: F The second largest vehicle manufacturer in the U.S., Ford Motor Company, announced yesterday evening that inflationary costs are going to eat into the company’s current third-quarter profits. Shares are down over 9% in the morning hours, last exchanging hands at $13.55. Ford shares have underperformed the broader S&P 500 index and main […]
Wix Shares Surge After Starboard Value Takes 9% Stake
WIX Wix.com shares were last trading up 12% in the mid-morning trading session as investors cheered activist investor Starboard Value taking a 9% equity position in the Israeli web development and management firm. The company also reported second quarter results that broadly beat estimates. Starboard said it took the position because it believed shares were […]
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