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
Halliburton Shares Climb After Company Posts Biggest Profit Since 2018
Ticker Symbol: HAL Shares in oil services and drilling provider Halliburton are up almost 2% in the morning trading session after the company posted strong earnings in its second-quarter earnings report. Shares are up over 27.5% on a year-to-date basis, handily outperforming the 19% drop in the S&P 500. The quarterly results were also the […]
Citi Shares Pop as Bank Beats on Earnings
Ticker Symbol: C Citibank, one of the largest global banks, reported its second quarter financial report today. The results beat earnings expectations that bucked the trend across the large U.S. banks that have reported earnings so far. J.P. Morgan, Morgan Stanley, and Wells Fargo, the other large globally systemically important banks, all missed Wall Street’s […]
Morgan Stanley Misses on Revenue and Earnings, Shares Decline
Ticker Symbol: MS Morgan Stanley reported second-quarter earnings today that missed average analyst estimates in most categories. The large investment bank has faced challenges due to a global capital market slump that has impacted deal-making, sales and trading, and asset management. The company also booked a $200 million fine due to the unapproved use of […]
U.S. Inflation Exceeds Expectations Again in Blow to Markets
Inflation in the United States, as measured by the Consumer Price Index (CPI), advanced 9.1% from the year-earlier period in June. This was a new high after May’s reading of 8.6%. The number was more than analysts’ forecasts for the headline number to come in at 8.8%. Worryingly, core inflation, which is the headline number […]
PepsiCo Shares Up on Beat and Raised Outlook
Ticker Symbol: PEP Shares in carbonated drinks and snacks manufacturer PepsiCo are up slightly this morning after the company beat its revenue and earnings estimates for the second quarter and raised its outlook for the fiscal year. The company’s management also said that demand for its products remains robust despite rising prices and a broader […]
Twitter Shares Plunge as Elon Musk Reneges on Deal
Ticker Symbol: TWTR The shares of social media giant company Twitter are down over 7% in this morning’s trading session after the deal the company struck with the Chief Operating Officer of Tesla, Elon Musk, fell through. Musk had made a bid to purchase the company for approximately $44 billion, or $54.20 a share in […]
Why Rivian Shares Are Soaring Today
RIVN Electric vehicle upstart, Rivian Automotive Inc., announced today that quarterly deliveries for the third quarter were 6,584 vehicles to customers. Further, the company reiterated that it would build 25,000 pickups and SUVs this year after producing 7,363 during the quarter. Shares were trading up by over 8% in the morning trading session, last exchanging […]
June’s Jobs Report Comes in Stronger Than Expected
The June nonfarm payrolls report from the U.S. Labor Department showed that the economy added 372,000 jobs during the month while the unemployment rate held at 3.6%. Crucially for stock-market investors, buried in the report was a sign that inflation may be slowing as average hourly earnings rose less than economists had forecasted, rising 0.3% […]
Samsung Jumps on Better Guidance and Sales Beat
Samsung Electronics, the South Korean technology giant, reported a small beat in its top line and provided better than expected earnings guidance for the second quarter. Samsung is one of the earliest technology companies to report on its June 30th ending quarter, and the statement from South Korea’s largest company helped improve investor sentiment across […]
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