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
One of Apple’s Biggest Suppliers is Jumping on An Earnings Beat
Ticker Symbol: QRVO Qorvo, a large semiconductor supplier to technology behemoth Apple, announced its first-quarter results that were largely ahead of Wall Street expectations. Most critically, however, the company stuck to its forward guidance that came in ahead of analysts’ expectations. Shares were up 7% in extended hours. Shares in Qorvo were down 32% for […]
A Large Chinese Bellwether Stock Is Rising – Here’s Why
Ticker Symbol: BABA One of China’s largest companies, Alibaba Group Holding Ltd. released its fiscal first quarter results today, and shares listed in New York are up 1.5% this morning. The company produced financials that were well ahead of analysts’ forecasts and better than what many feared. Alibaba is an especially closely watched company because […]
Paypal Shares Rise After Elliott Management Takes $2 Billion Stake in Company
Ticker Symbol: PYPL Paypal shares were last trading up 11% in the after-market-close trading session as investors cheered activist investor Elliott management taking a $2 billion position in the financial technology firm. The company also reported second-quarter results that broadly beat estimates. Shares were last changing hands at $99.70, down roughly 50% on a year-to-date […]
Robinhood Shares Pop 16% After Company Announces Layoffs
Ticker Symbol: HOOD Robinhood shares are surging 16% in the morning trading session after management stated that it’s laying off roughly 23% of its workforce. The company also announced it was shuttering specific offices in a bid to focus on profitability after spending much of its time in existence focused on rapid revenue growth. Shares […]
Uber Reports Second Quarter Earnings: Here Are the Numbers
Ticker Symbol: UBER Uber shares are surging, up 14% to $28, after reporting ridership and revenue metrics that handily beat Wall Street forecasts. The company posted second-quarter revenue of $8.1 billion, which was up over 100% year over year, versus the consensus projection of $7.4 billion. Despite the jump in shares in the morning trading […]
Apple Reports Strong Third Quarter, But Services Growth Slow
Ticker Symbol: AAPL Apple Inc., the world’s largest firm by market capitalization, reported a beat on most financial metrics in its third-quarter earnings results. Despite surging COVID cases and lockdowns in China, supply chain issues, foreign exchange headwinds, and an impending global recession, the company posted a record June quarter that was generally ahead of […]
Etsy Shares Are Surging After Results Crush Expectations
Ticker Symbol: ETSY Shares of online marketplace Etsy were last trading up 8% this morning after the company produced second quarter financial results that were well ahead of Wall Street consensus forecasts. The company offers handmade and vintage items, art, and supplies, and connects millions of buyers and sellers worldwide. Shares in the firm have […]
Fed Raises Key Rate by 75 Basis Points but Gets Less Hawkish
The U.S. Federal Open Market Committee (FOMC) raised its key policy rate by three-quarters of a percentage on July 27th to battle higher inflation. In its fourth 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 2.5%. Bond […]
Facebook Parent Reports First Ever Revenue Decline
Ticker Symbol: META Shares in Meta Platforms were down 5% in the after-market-close trading session today, as the company missed its second-quarter earnings estimates on both the top and bottom lines. Following a weak report from competitor Snap Inc, investors were largely expecting the parent company of Facebook to report numbers that would fall short […]
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