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
Berkshire Hathaway shares gained more than 2% on Tuesday as investors focused on the conglomerate’s strong equity portfolio, a higher price target from UBS, and expectations that the company repurchased billions of dollars worth of its own stock during the second quarter. Class B (BRK.B) shares rose about 2.88% to $511.5, while the Class A
On Tuesday, Visa announced plans to cut about 7% of its global workforce while Meta Platforms unveiled a $14 billion AI data center partnership with BlackRock. Meanwhile, oil prices extended their recent decline on hopes of easing Middle East tensions, while gold slipped to a one-week low as investors awaited the Federal Reserve’s policy decision.
The Dow Jones Industrial Average led Wall Street higher on Tuesday as strong corporate earnings, lower oil prices and a continued rotation away from semiconductor stocks supported broader market gains. Investors also looked ahead to key earnings from major technology companies and the Federal Reserve’s interest rate decision later this week. The Dow gained 546.61
Visa (V) shares are slipping in extended trading on Tuesday even though the credit card company posted better-than-expected Q3 earnings. Net revenue rose 14% year-on-year to $11.6 billion, topping Wall Street’s $11.35 billion consensus and last year’s $10.19 billion mark. Earnings went up 11% to $3.32 a share, also beating consensus set at $3.23. Still,