AMD has released its fourth-quarter earnings and the results have beaten Wall Street’s expectations for sales and profit. Despite the positive results, the company has guided analysts to a 10% decline in year-over-year sales in the current quarter. Despite this, the stock rose over 2% in extended trading. In the quarter ending December, AMD’s EPS … Read more
On Tuesday, the Dow Jones Industrial Average struggled to maintain its early 2023 momentum as investors weighed the latest earnings results. The blue-chip index, which is a stock market index that tracks 30 of the largest and most widely traded publicly listed companies in the United States, lost 391.76 points, or 1.14%, to close at … Read more
Disney (DIS) shocked the business world late Sunday night when the company announced former longtime CEO Bob Iger would return in the same role, effective immediately. Iger replaces Bob Chapek, who took over the CEO reins from Iger in late February 2020 and awarded a contract extension by the board just five months ago. Disney stock rose 6% … Read more
Target missed the bullseye by a wide margin in the third quarter as the discount retailer felt the brunt of a consumer spending slowdown in more discretionary merchandise. “In the latter weeks of the quarter, sales and profit trends softened meaningfully, with guests’ shopping behavior increasingly impacted by inflation, rising interest rates and economic uncertainty,” … Read more
U.S. stocks sank lower early Thursday as Wall Street reeled from assertions by Federal Reserve Chair Jerome Powell that hopes for a policy pivot were “premature” after the central bank delivered a fourth consecutive interest rate hike of 75 basis points. The S&P 500 (^GSPC) fell 1.2% at open after the index plunged 2.5% in the previous session, … Read more
Bitcoin miner Core Scientific (CORZ) and Argo Blockchain (ARBK) were downgraded from buy to neutral by Wall Street investment bank DA Davison as crypto winter continues to weigh heavily on the profitability of the miners, analyst Chris Brendler wrote in a note Friday. “Persistent inflation and rising pessimism around interest rates have pushed back the … Read more
U.S. stocks fell on Wednesday, giving back some of its sharp gains from the last two sessions as Treasury yield rose. The Dow Jones Industrial Average declined 363 points, or 1.2%. The S&P 500 and Nasdaq Composite dipped 1.4% and 1.8%, respectively. Treasury yields rebounded Wednesday, weighing on stocks. The 10-year rate traded 10 basis points … Read more
Stocks fell Friday as Wall Street headed toward a big losing week, and traders absorbed an ugly earnings warning from FedEx about the global economy. The Dow Jones Industrial Average dropped 335 points, or 1.1%. The S&P 500 and Nasdaq Composite slid 1.2% and 1.4%, respectively. Shares of FedEx plunged 24% after the shipments company withdrew … Read more
Stock futures rose Monday as Wall Street looks ahead to key inflation data to be released this week. Dow Jones Industrial Average futures were up 54 points, or 0.2%. S&P 500 futures were up 0.4%, and Nasdaq 100 futures gained 0.3%. The moves came after a winning week for U.S. stocks, as all three major … Read more
Bond yields were little changed on Thursday from the previous session, with most trading around just one basis point lower as investors digest Wednesday’s market gains, which gave Wall Street its best day in nearly a month. The yield on the benchmark 10-year Treasury note was down 1 basis point at 3.25% at around 5:40 a.m. ET. The yield … Read more
