Boeing (BA) stock is extending gains on Tuesday morning even though the airplane maker posted a wider-than-expected loss for its fiscal second quarter (Q2). Investors are cheering BA mostly because the bottom-line weakness did not disrupt management’s full-year outlook for up to $3 billion in free cash flow. More importantly, CEO Kelly Ortberg told CNBC
Palantir Technologies PLTR shares plunged about 9% on Tuesday after gaining roughly 5% in the previous session, as investors locked in profits and reassessed risks ahead of the company’s second-quarter earnings report due on Aug. 3. The 5% bump had come after Oppenheimer reaffirmed its Outperform rating and maintained a $200 price target ahead of
Nvidia shares traded little changed on Tuesday after recovering from early losses, although the stock remained below the psychologically important $200 level. Investors looked to balance an increasingly attractive valuation against concerns over artificial intelligence financing and upcoming Big Tech earnings. The stock had fallen sharply in the previous session, losing 5% and surrendering its
CrowdStrike CRWD shares gained about 1.1% in trading on Tuesday after receiving fresh support from Wall Street, with Loop Capital initiating coverage on the cybersecurity company with a Buy rating and Cantor Fitzgerald reiterating its bullish stance. Loop Capital analyst Yun Kim assigned a $230 price target, implying roughly 27% upside from Monday’s closing price.
Meta Platforms (META) shares are inching lower heading into the company’s fiscal Q2 results set to be posted after the market close on Wednesday, July 29th. Consensus is for the tech behemoth to record $60.2 billion in revenue on $7.18 a share of earnings, which would represent roughly no change in bottom-line on a year-over-year
Apple briefly became only the second publicly traded company in history after Nvidia to cross a $5 trillion market capitalisation on Tuesday, in a reflection of investors’ growing preference for technology companies that can deliver earnings growth without committing hundreds of billions of dollars to artificial intelligence infrastructure. The iPhone maker’s AAPL shares rose as
PayPal Holdings PYPL shares rose about 4.5% on Tuesday after the payments company reported better-than-expected second-quarter results, raised its full-year earnings guidance, and highlighted early progress in its turnaround strategy under CEO Enrique Lores. The fintech company reported adjusted earnings of $1.38 per share for the second quarter, ahead of Wall Street expectations of $1.28.
Micron Technology (MU) and its memory peers are bearing the brunt of a fierce market selloff on Tuesday, which has been the case this month. Micron declined 8% while SanDisk plunged 15% in the session. SK Hynix’s US ADR shares fell 8%. MU has lost over 40% this month, heading for its worst single-month performance
Strategy MSTR (formerly known as Microstrategy) shares climbed on Monday after the company disclosed it had not purchased any Bitcoin for the fifth consecutive week, instead continuing to build its cash reserves and repurchase preferred shares under its revised capital allocation strategy. The company said in a filing that it neither bought nor sold Bitcoin
Memory and storage stocks came under heavy selling pressure on Monday after Chinese memory chipmaker ChangXin Technology Group (CXMT) made a blockbuster stock market debut, and reports emerged that China has begun manufacturing domestically developed deep ultraviolet (DUV) lithography machines. The twin developments heightened investor concerns that China’s semiconductor industry is rapidly closing the technology