Results for: Nasdaq

Roth/MKM has maintained its Buy rating on Meta Platforms Inc. (NASDAQ: META) and raised its price target to $510 from $500. The adjustment follows Meta’s recent earnings report, which saw the company’s shares drop despite surpassing first-quarter expectations and providing second-quarter guidance that met analyst predictions. The firm believes Meta’s current share price presents a buying opportunity, as its shares are valued below a 17 times price-to-earnings ratio (P/E) based on projected 2025 earnings.

Check Point Software (CHKP) reported stronger-than-expected first-quarter earnings, with EPS of $2.04 surpassing analyst estimates by $0.03. Revenue also outperformed consensus forecasts, reaching $598.8 million. The company’s stock price has shown a positive trend, rising 0.89% in the past three months and a significant 27.80% over the past year.

Vietnamese billionaire Pham Nhat Vuong has announced plans to inject an additional $1 billion from his personal wealth into the Nasdaq-listed electric vehicle (EV) manufacturer VinFast Auto Ltd (NASDAQ: VFS). Vuong, who directly owns 18% of Vingroup’s shares, expressed his intention to further bolster the investments in VinFast, which has been running at a loss. Despite the company’s stock price plummeting from $10 to $2.5 since its initial listing in August, Vuong remains optimistic about the EV market’s future. Despite these challenges, Vuong remains committed to VinFast, with over 70% of the 35,000 cars sold last year going to an electric taxi company, GSM, which he owns.

The major U.S. indices exhibited varied performances on Wednesday. The Dow Jones Industrial Average declined slightly by 0.1%, while the S&P 500 and Nasdaq witnessed modest growth of 0.02% and 0.1%, respectively. Among the notable stock movements, Tesla shares surged 12.06% following its quarterly report. Meta Platforms, Snap, Amazon, and IBM also experienced price fluctuations, with Meta and Snap closing down, and Amazon and IBM ending the day with gains.

META Platforms Inc. reported Q2 results that exceeded analyst expectations for revenue, operating income and earnings per share (EPS). Revenue climbed 27% year-over-year, operating income surpassed estimates by 4% and EPS came in approximately 9% higher than anticipated. Despite these strong results, META stock experienced a downturn in after-hours trading, dropping around 13%. The after-hours selloff comes after the internet behemoth adjusted its capital expenditure forecast for the fiscal year 2024, increasing its range to $35 billion to $40 billion from the previous estimate of $30 billion to $37 billion.

U.S. stock markets opened with mixed results on Wednesday as concerns about prolonged high interest rates overshadowed positive earnings reports. The Dow Jones Industrial Average and the S&P 500 remained largely flat, while the technology-heavy Nasdaq Composite gained slightly. Despite strong earnings releases from companies such as Tesla, Hasbro, and Visa, investors remained cautious due to rising treasury yields and the potential for a pullback if upcoming economic data leads to reduced interest rate cut expectations.

Wall Street partially recovered on Wednesday, with Tesla’s post-earnings gain and other heavyweight earnings reports influencing market sentiment. The Nasdaq Composite and S&P 500 gained modestly, while the Dow Jones Industrial Average edged higher. Industrial stocks fell, dragged down by transportation and defense sectors. Treasury yields rose, putting pressure on equities. Investors await Meta Platforms’ earnings results after the closing bell.

On Tuesday, the U.S. stock markets experienced a surge in gains. The Nasdaq led the rise, jumping by 1.5%, followed by the S&P 500 with a 1.2% increase. Tesla’s upcoming earnings report garnered significant attention, as it holds considerable influence on the S&P 500’s performance.

The Nasdaq and S&P 500 enjoyed gains on Wednesday after Tuesday’s earnings, while the Dow Jones slipped. Tesla Inc soared despite muted demand, while Boeing Co climbed despite a first-quarter loss. Alphabet Inc and Ford Motor Co were among other big names set to report on Wednesday. Tesla Inc emerged as one of Wednesday’s big risers, up 12.1% in pre-market trading after Tuesday’s earnings.

Market watchers can tune in to watch the opening bell for the New York Stock Exchange and the Nasdaq from April 24, 2024. The opening bell is a symbolic ceremony that marks the start of the trading day for the stock exchanges. It is a tradition that dates back to the 19th century when traders would gather on the floor of the exchanges to bid on stocks.