Welcome to the Extreme Investor Network, where we bring you the latest updates on the companies making headlines in the finance world. Today, we have some interesting news to share, so let’s dive right in.
First up, we have Ryanair, the budget airline that saw its shares fall 15.4% after reporting weaker-than-expected fiscal first-quarter earnings. The company mentioned that its quarterly profit after tax had dropped by 46% and anticipates lower fares than initially predicted for the summer months.
Next, CrowdStrike, the cybersecurity stock, experienced a plunge of about 13.5% following a massive outage that led to thousands of canceled flights. Guggenheim downgraded shares of CrowdStrike to a neutral rating from buy, citing possible delays in new deals for the company in the short term.
On a positive note, IQVIA Holdings saw its stock jump more than 9.2% after beating earnings expectations for the second quarter. The health tech company posted adjusted earnings of $2.64 per share on revenue of $3.81 billion, surpassing analyst predictions.
In other news, Nvidia shares surged about 4.8% after reports that the company is developing a version of its Blackwell chips for the Chinese market. This new version is said to be compatible with current U.S. export controls.
Verizon, on the other hand, experienced a 6% drop in shares after reporting weaker-than-expected quarterly revenue. The company’s sales of $32.8 billion fell short of the $33.05 billion FactSet consensus estimate.
Moving on to Tesla, the electric vehicle maker’s stock jumped more than 5% ahead of its earnings results, with CEO Elon Musk announcing that humanoid robots will be in production within the company next year.
Chinese EV stocks saw a surge in shares after the People’s Bank of China announced cuts to the seven-day reverse repo rate and the one-year loan prime rate. Xpeng, Nio, and Li Auto all saw gains following the news.
In the toy industry, Mattel’s shares soared more than 15% after reports that private equity firm L Catterton approached the company with an acquisition offer.
Lastly, semiconductor stocks bounced back after a sharp sell-off last week, with the VanEck Semiconductor ETF (SMH) jumping nearly 4%. On Semiconductor, KLA Corporation, and ASML Holding all saw significant gains.
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