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All three of the major averages (^DJI,^GSPC, ^IXIC) saw a sharp sell-off, with the "Magnificent Seven" dragging down the Nasdaq. T. Rowe Price global head of multi-asset and chief investment officer Sébastien Page says the bulls and bears are truly in a fight over where the market is headed, with bears making the case for an economic slowdown while bulls argue rate cuts will keep the rally going. There were plenty of earnings after the closing bell. Market Domination Overtime anchors Julie Hyman and Josh Lipton break down the quarterly results from Ford Motor (F), Chipotle Mexican Grill (CMG), IBM (IBM), and Whirlpool (WHR). For more expert insight and the latest market action, click here...
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International Business Machines beat analysts’ expectations on the top and bottom lines with its second quarter results Wednesday...
Continue ReadingIt was more about what the company isn't doing about a recent crisis, rather than what it is doing...
Continue ReadingMarket Domination hosts Julie Hyman and Josh Lipton guide investors through the final trading hour of Wednesday, July 24, as US equity markets (^DJI, ^IXIC, ^GSPC) react to earnings out from Alphabet (GOOG, GOOGL) and Tesla (TSLA) and anticipate more results from Big Tech. Citi head of US equity strategy Scott Chronert comes on the program to talk about the role Magnificent Seven tech stocks will have in the ongoing market rotation. Former Chairman of LVMH North America Pauline Brown discusses the consumer pullback from China that is hitting luxury retail brands, including the likes of LVMH (MC.PA, LVMUY) and Burberry (BRBY.L). Other top trending stock tickers on the Yahoo Finance platform include Enphase Energy (ENPH), Ulta Beauty (ULTA), and Lamb Weston Holdings (LW). This post was written by Luke Carberry Mogan...
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Lackluster earnings results from Tesla (TSLA) and Alphabet (GOOG, GOOGL) sent markets under pressure in Wednesday's trading session. Deepwater Asset Management managing partner Doug Clinton joins Market Domination to discuss both companies and their trajectories. Tesla may be investing $5 billion in xAI, CEO Elon Musk's artificial intelligence startup. Clinton believes that the move "makes sense," adding: "What sets xAI apart as a large language model competitor is their ability to think about the physical world from all the things that Elon does at SpaceX, at Tesla. So I think there's synergies there that could be interesting." He believes that the technology being developed at xAI could really benefit Tesla, and the EV company could invest even more to get more value down the road. On the Google front, Clinton says, "we're sticking with it even though it's been volatile today." While some investors were worried about the tech giant's capital expenditures (CapEx), Clinton explains that he's not concerned. He believes that its investments in AI are worth it, explaining that if a tech company walks away from the technology, "everyone else continues and they get it right." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl...
Continue ReadingIBM (IBM) stock is rallying following its strong second-quarter earnings report, beating on both the top and bottom lines. Dan Morgan, Synovus vice president and senior portfolio manager joins Market Domination Overtime to share his insights on the company's performance and outlook. Morgan emphasizes a key highlight from the report: IBM's disclosure of $2 billion in booked revenue from generative AI, doubling from the first quarter. He notes that IBM's approach to AI differs from its competitors, focusing on the hybrid space. "They just have a different strategy towards AI and cloud than a lot of these other companies do," Morgan explains, pointing out that IBM isn't "playing in the same sandbox" as other prominent AI names. Regarding AI revenue generation, Morgan observes that IBM appears to be successfully monetizing its AI initiatives. "That's why I think this report is being met with... applause," he tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith...
Continue ReadingThe Nasdaq and S&P 500 fell below their 50-day lines as Tesla, Google led a stock market sell-off. Inflation data looms...
Continue ReadingInvestors in technology stocks are witnessing a fall from grace. The big tech names—Apple, Amazon, Google-parent Alphabet Nvidia, Facebook -parent Meta Platforms, Microsoft and Tesla—were all the rage this year. Dubbed the Magnificent Seven, the group members made headlines as the earth’s most valuable companies, helping push the to 38 record highs in 2024...
Continue ReadingIBM (IBM) delivered earnings and revenue surprises of 12.50% and 1.23%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?...
Continue ReadingTesla stock falls sharply after the electric-vehicle maker posts second-quarter earnings that missed expectations, Alphabet declines even after beating profit and revenue estimates, and AT&T reports its second-straight quarter of stronger-than-expected net phone subscribers...
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