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
FedEx Shares Plunge the Most in 40 Years
FDX FedEx shares are down a whopping 23% in morning trading after the company announced its fiscal first quarter results that lagged investors’ expectations. Management also withdrew its forecast for the year after new Chief Executive Officer Raj Subramaniam said that FedEx was experiencing worsening business conditions. The package delivery behemoth is also underperforming the […]
Here Are Today’s Top Stock Movers
NFLX The streaming giant’s shares are up 4% in the morning trading session after an analyst upgraded the company’s share to a buy. Wall Street has recently started becoming more bullish on the company after its post-pandemic induced drawdown in share price. Analysts are also more optimistic about Netflix’s new advertisement tier offering. ADBE The […]
Starbucks Shares Are Jumping and Could Continue Rising
Ticker Symbol: SBUX Starbucks Corp., the world’s largest coffeehouse, provided forward guidance on its revenue and profit trajectory, which broadly beat Wall Street’s expectations. The company, which announced a leadership change during the quarter, believes that it can increase prices and revamp stores to generate sales growth of between 10% to 12% in the foreseeable […]
Core Inflation Surges, Increasing Headache for Fed
Inflation in the United States, as measured by the Consumer Price Index (CPI), advanced 8.3% from the year-ago period in August. This was a decline from the 8.5% year-on-year increase reported for July. The number was also above the 8.1% reading expected by economists. As a big negative for the Federal Reserve, core inflation, which […]
DocuSign Shares Are Ripping Higher – Here’s Why
Ticker Symbol: DOCU DocuSign Inc, the application software company that provides electronic signature and e-filing storage solutions, reported second-quarter financial results that broadly beat consensus estimates. The company’s shares were last trading at $62.22, up over 7% for the day. The company’s shares have declined by 58.6% this year but are up roughly 17% from […]
Meme Stock GameStop Surges After Crypto Partnership
Ticker Symbol: GME The meme stock king GameStop’s shares are trading up 10% in the morning trading session after announcing that the company is entering into a partnership with cryptocurrency exchange FTX. The shares were up despite the company reporting a high cash burn and sales that missed analystestimates in its second-quarter earnings call for […]
Bitcoin Slumps to Below $19,000 Again – Cryptocurrencies below $1 Trillion
Ticker Symbol: BTC, ETH The Bitcoin/USD exchange rate fell by 0.5% in the morning trading session to take the cryptocurrency below the $19,000 level for the first time since June. Ethereum also fell by 2% to last exchange hands at $1,542. Both cryptocurrencies have given back the gains from the summer, and the total cryptocurrency […]
Volkswagen Announces It Will List Porsche
Ticker Symbol: VOW In what could be one of the biggest initial public offerings of years, Volkswagen AG announced today that it would list its iconic car maker, Porsche AG. The listing follows the 2015 IPO of sports car behemoth Ferrari by parent company Fiat 2015. The offering is supposed to raise fresh cash for […]
Best Buy Beats Profit Estimates, Shares Jump
Ticker Symbol: BBY Best Buy Co., the large U.S. retailer of electronic gadgets, and appliances, gained around 5.5% at market open after beating profit estimates for the company’s fiscal second quarter. Earnings per share fell 48.3% year over year to $1.54 which was higher than the average analyst estimate of $1.35. The beat comes after […]
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