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
Snap Plummets Over 40% After Adjusting Guidance
Ticker Symbol: SNAP, GOOG, FB, PINS, TWTR, TTD, ROKU The parent of the eponymous messaging app Snapchat, Snap Inc, was down over 40% in the morning session today, after CEO Evan Spiegel cut revenue and profit forecasts and promised to slow hiring as the company deals with the fallout from surging inflation. The company’s shares […]
J.P. Morgan to Increase ROE to 17% and Hire 1,300 Financial Advisers in Three Years
Ticker Symbol: JPM JPMorgan, the largest U.S. banking institution by assets, announced today at its annual investor day, that the company plans to achieve a 17% return on tangible equity in 2022. Shares were up over 6.5% in mid-morning trading. The company, which reported numbers that largely missed investor estimates for its first quarter’s earnings […]
Broadcom Exploring Blockbuster Deal to Buy VMware
Ticker Symbols: AVGO, VMW VMware, the cloud-computing company that counts technology mogul Michael Dell as its largest shareholder, jumped over 22% in midafternoon trading after the company received takeover interest from the giant chip manufacturing company Broadcom. The large deal between two industry titans would be a unique, one-of-a-kind, amalgamation between a manufacturing-based company and […]
U.S. Attempts to Thaw Relationship with Saudi Arabia and Venezuela as Gasoline Prices Continue to Soar
Reports from Washington D.C. emerged today that the U.S. government has started preliminary discussions with their Saudi Arabian counterparts to arrange a meeting between the heads of the two States. The first in-person meeting between Joe Biden and the Kingdom of Saudi Arabia’s de facto leader, crown prince Mohammed bin Salman (MBS), could lead to […]
Palo Alto Networks Rises in Afterhours as Results Smash Estimates
Ticker Symbol: PANW Cybersecurity firm Palo Alto Networks reported strong third quarter results and shares were trading up over 10% in the afterhours as the company also issued strong forward guidance. Adjusted earnings per share for the third quarter came in at $1.79, versus the average analyst expectation of $1.68 and $1.38 from the year […]
Target Shares Dive 26% as Inflation and Inventory Issues Hit Company
Ticker Symbol: TGT Target, the large U.S. discount retailer, plummeted 26% at market open after producing one of the worst earnings reports of the first quarter earnings season. Much like Walmart yesterday, if the intraday move holds, it would be the largest single-day decline in the company’s stock price since October 1987. The company missed […]
Walmart Shares Tank the Most Since 1987
Ticker Symbol: WMT Walmart shares were down close to 12% in midday trading after the company released a poor earnings report that generally missed Wall Street’s expectations. The pullback was the sharpest intraday decline in the company’s history since 1987. Moreover, management said earnings were likely to drop 1% for fiscal 2022, after guiding towards […]
McDonald’s Exit from Russia Latest in Defections from Country
McDonald’s, the world’s largest fast-food chain, announced its decision to shut-down its business operations in Russia, ending a decades long presence in the country. The Chicago based burger giant is selling its 850 restaurants and the company is currently engaged in seeking buyers for all locations and for the 62,000 employees in Russia. The move […]
Early Market Moves Based on 13F Reports
Hedge funds and other large asset managers filed their SEC required Form 13Fs today. A 13F report is a regulatory report required of all institutional money managers with at least $100 million in assets under management and is published quarterly. The report is the public disclosure of the manager’s holdings and trades conducted during the […]
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