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
Alphabet Shares Get a Boost on Ad Revenue Beat
Ticker Symbol: GOOG Alphabet shares are up 2% in the post-market trading session after the company reported second-quarter advertising revenue which beat the consensus estimate from Wall Street, despite a miss on total revenue and earnings. Shares may be trading up primarily because the company avoided some of the worst-case scenarios investors may have feared […]
Chipotle Shares Surge on Earnings Beat
Ticker Symbol: CMG Chipotle Mexican Grill Inc, the cantina-styled restaurant chain, announced second-quarter earnings which broadly beat Wall Street estimates. Shares were trading up 12% in the morning session and are down 14.2% on a year-to-date basis versus the 16.7% decline in the S&P 500. The better-than-expected results come on the back of the company […]
Shopify Shares Tank After Company’s CEO Says Growth Declines
Ticker Symbol: SHOP Shopify shares plunged as much as 17% today after the company said it would be cutting close to 1,000 jobs, or 10% of its total workforce after the company’s Chief Executive Officer and founder, Tobi Lutke, said that a pullback in consumer spending in e-commerce channels was higher than management had initially […]
McDonald’s Sales and Earnings Top Estimates, Shares Climb
Ticker Symbol: MCD McDonald’s, the world’s largest fast-food chain, announced second quarter financials today which broadly beat Wall Street estimates. The company, which pulled out of Russia during the quarter in a historic move, managed to increase prices for most of its menu items without impacting customer demand. Shares were trading up 2% in the […]
Snap Plummets Over 34% After Suspending Forward Guidance
Ticker Symbol: SNAP, GOOG, META, PINS, TWTR, TTD, ROKU The parent of the eponymous messaging app Snapchat, Snap Inc, was down over 34% in the morning session today after the company missed its second-quarter earnings Wall Street estimates on revenue and profit. Management also promised to limit hiring as the company deals with the fallout […]
Tesla Reported Second Quarter Results – Here is How the Company Did
Ticker Symbol: TSLA The largest electric vehicle manufacturer in the world, Tesla Inc, announced its second-quarter results that were largely ahead of Wall Street expectations. Most critically, however, the company stuck to its forward guidance of producing and delivering vehicles with a 50% average annual growth rate. The company also said that it converted approximately […]
American Airlines Delivers First Profit Since the Start of the Pandemic
Ticker Symbol: AAL American Airlines, the largest U.S. airline company, reported second-quarter results this morning that largely met consensus estimates. Airlines were one of the hardest hit industries during the COVID pandemic, with global lockdowns and quarantine having a significant impact on revenue and profitability. Most flights were grounded during the initial months of the […]
Netflix Shares Jump After Reporting Lower Subscriber Losses Than Expected
Ticker Symbol: NFLX Netflix shares are up 7% in after-hours trading after the company said it lost less than 1 million subscribers in the second quarter of fiscal 2022. Wall Street analysts on average had been expecting the company to lose 2 million subscribers during the quarter. Netflix is the largest subscription media company in […]
Bitcoin Jumps 2% to $24,000 Up 20% Over Past Week
Ticker Symbol: BTC, ETH The Bitcoin/USD exchange rate rose 2% in the morning trading session to take the cryptocurrency above the $24,000 level. Ethereum also rose 2% to last exchange hands at $1,600. Both cryptocurrencies have surged from a year-to-date bottom hit earlier in the year. Bitcoin prices are up 20%, while Ethereum prices are […]
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