Welcome to Extreme Investor Network, where we provide unique and valuable insights into the world of finance. Today, we’re taking a closer look at the companies making headlines in midday trading.
First up, Spotify. This music streaming platform has advanced 1% after being named a top stock pick by Wells Fargo. Analysts are citing Spotify’s rising profit margins, strong product mix, and evolving record label relationships as key catalysts for its success.
Next, Robinhood is making waves with a 3% increase in stock price. Users of the fintech platform now have the opportunity to trade a Kamala Harris or Donald Trump contract ahead of the upcoming presidential election.
Oil companies like Occidental Petroleum, Exxon, and BP are slipping due to declining crude prices after Israel spared Iran’s crude facilities in a recent attack on Iranian military installations. Despite this, Citi predicts that this strike will not ultimately disrupt oil supplies.
McDonald’s shares are on the rise, with a 1% increase following news that its Quarter Pounder burger will be returning to menus this week. After a recent E. coli outbreak, health officials have pinpointed slivered onions as the likely source of contamination.
In the semiconductor sector, Taiwan Semiconductor Manufacturing is experiencing a 4% drop after halting shipments to a China-based chip designer due to a chip being found on a Huawei AI processor. This move comes after the U.S. restricted Huawei from buying this technology over national security concerns.
ON Semiconductor, on the other hand, is seeing a 1% increase in stock price after third-quarter earnings and revenue topped analyst estimates. With adjusted earnings exceeding expectations and revenue above the Street’s forecast, this semiconductor product maker is on the rise.
These are just some of the companies making waves in midday trading. Stay tuned to Extreme Investor Network for more insightful updates and analysis on the latest trends in the world of finance.