Welcome to Extreme Investor Network!
Are you keeping up with the latest movements in the stock market? If not, don’t worry! We’ve got you covered with all the important updates you need to know.
Solar stocks showed strength on Thursday, with the Invesco Solar ETF (TAN) rising by 2.6%. Array Technologies led the rally with a 7.5% gain, followed by SolarEdge Technologies, which increased by 5.6%. As the solar sector continues to grow, companies in this space are benefiting from cheaper financing options as they rely on debt to fund their expansion and growth.
Looking ahead, small-cap stocks are expected to see a positive impact from the Fed’s easing cycle. According to Jeffrey Gundlach, CEO of DoubleLine Capital, many companies in the Russell 2000 index have floating-rate debt, making them more sensitive to changes in interest rates. This sensitivity could potentially result in greater gains for small-cap stocks compared to large-cap companies, especially in sectors outside of financials.
In other news, Darden Restaurants recently reported weaker-than-expected quarterly earnings, with their flagship brand Olive Garden and fine-dining segment underperforming. For the quarter ending August 25, Darden posted earnings of $1.75 per share, falling short of analyst expectations. Revenue also missed forecasts, coming in at $2.76 billion instead of the expected $2.8 billion. While Olive Garden and the fine-dining brands struggled, LongHorn Steakhouse stood out with a 3.7% increase in same-store sales.
Stay tuned to Extreme Investor Network for more updates on the stock market, trading insights, and analysis to help you navigate Wall Street like a pro. Don’t miss out on the latest trends and opportunities – join our community of extreme investors today!