Midday Trading Update: Gap, Spectrum Brands, and ChargePoint Make Headlines In the latest midday trading update, several companies are making headlines with significant stock movements. Gap, the apparel retailer, saw shares surge by 30.6% after posting fiscal third-quarter results that beat Wall Street’s estimates. The strong sales at Old Navy and improvements at its namesake…
Several companies are making headlines in premarket trading, especially Alibaba and BJ’s Wholesale Club. Alibaba’s U.S.-listed shares slipped 3.2% after announcing it would no longer spin off its cloud computing business, citing U.S. export restrictions on advanced chips. BJ’s Wholesale Club saw its shares retreat 4.6% after revising its expectation for comparable store sales in…
Volvo Cars Shares Plummet 14% as Parent Company Geely Holding Group Begins Sale of 100 Million Shares Volvo Cars found itself in a turbulent position as its shares plummeted by as much as 14% on Friday morning. This drop came after its parent company, Zhejiang Geely Holding Group, initiated a sale of approximately 100 million…
In extended trading, several companies are making headlines with significant stock movements. Applied Materials, a semiconductor company, saw its shares drop more than 7% after reports of a Justice Department probe into potential evasion of export restrictions on Chinese chip company SMIC. Meanwhile, Gap’s shares surged 15% following better-than-expected third-quarter results, with adjusted earnings of…
Stock Market Update: Key Movements and Recommendations from CNBC’s Morning Meeting The CNBC Investing Club with Jim Cramer livestreamed their Morning Meeting at 10:20 a.m. ET on Thursday, discussing the latest developments in the stock market. Here’s a recap of the key moments from the meeting: 1. Stocks saw a slight dip in midmorning trading…
Berkshire Hathaway’s Vice Chairman Charlie Munger defended Warren Buffett against claims that he was involved in insider trading. Munger stated that the idea that Buffett was front-running Berkshire’s trades didn’t make sense, given Buffett’s charitable giving and majority of his wealth being tied up in Berkshire stock. In response to a report by ProPublica, Munger…
Palo Alto Networks (PANW) recently announced its fiscal 2024 first-quarter results, reporting strong numbers but lowering its full-year billings outlook. This caused the stock to slide in after-hours trading due to concerns over the rising cost of money. Revenue for the quarter ended Oct. 31 increased 20% year-over-year to $1.88 billion, beating the consensus estimate…
U.S. President Joe Biden and Chinese President Xi Jinping met in person for the first time in a year in San Francisco, agreeing to resume high-level military communication. The meeting took place on the sidelines of the Asia-Pacific Economic Cooperation conference. According to reports, both leaders re-established direct, open, and clear communications. This development comes…
Several companies are making headlines in extended trading, with Cisco Systems, Palo Alto Networks, Maxeon Solar Technologies, and Gambling.com all experiencing significant stock movements. Cisco Systems saw its shares tumble by nearly 11% after offering worse-than-expected guidance for the current quarter and full year. Despite a strong fiscal first-quarter report that beat analysts’ forecasts, the…
In a long-awaited meeting, U.S. President Joe Biden and Chinese President Xi Jinping came together for their first face-to-face encounter in a year, on the sidelines of the Asia-Pacific Economic Cooperation conference in San Francisco. The summit followed efforts to improve high-level communication between the U.S. and China amidst ongoing tensions. Both leaders expressed a…
