Adjusted EBITDA came in at $48.9 million, ahead of the $45.7 consensus estimate. For the current quarter, the company said to expected between $2 and $2.06 in earnings per share for the current quarter, while analysts forecasted $1.96. Keysight guided revenue for the quarter to come in between $1.37 billion and $1.39 billion, a range that contains Wall Street’s consensus estimate of $1.38 billion.
- During the meeting, Musk teased new Tesla products, while also reiterating plans to roll out the first Cybertrucks this year.
- The new data was in an investor update filed with the Securities and Exchange Commission on Tuesday.
- The two-year yield, which moves more on expectations for action by the Federal Reserve, rose to 4.15% from 4.08%.
- The Dow jumped more than 100 points, while the S&P 500 climbed 0.5%.
A close below that level may signal a potential change toward the downside. Tech stock Keysight advanced more than 7% after the bell on the back of a strong quarterly earnings report and guidance for the current quarter. Western Alliance shares have been on a recent upswing, up 17% over the past week – and posting a gain of 15% since this week has begun. The three major averages jumped to their highs of the day – briefly – after President Joe Biden said that the U.S. will not default on its debts Wednesday morning. Consumer staples and utilities were the only two S&P 500 sectors last trading in negative territory. Consumer staples was down 0.2%, while utilities stocks were just slightly lower.
Earlier on Tuesday, Stifel initiated coverage of EVGo with a buy rating. Malhotra drastically cut his price target from $1.75 to 30 cents, with the new target implying the stock could slide from where it finished Tuesday. Sam Stovall, chief investment strategist at CFRA Research, said he expects that markets are stuck in neutral, even as the news becomes “more and more optimistic” on the debt ceiling. He cited recent trends in the 10-year Treasury yield, as well as strength indicators in the S&P 500. It is engaged in the evaluation, acquisition, exploration, and advancement of gold exploration and potential development projects.
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The Dow jumped more than 100 points, while the S&P 500 climbed 0.5%. Wynn Resorts and Carnival shares outperformed, jumping nearly 6.5% and 5%, respectively. The Dow Jones Industrial Average traded 332 points higher, or 1.01%.The S&P 500 gained about 0.8%, and the Nasdaq Composite advanced 0.8%. Traders at Mizuho noted that, without major technology stocks such as Apple and Microsoft, the S&P 500 would be lower in 2023.
In its fiscal second quarter, the company reported $2.12 in earnings per share without items and $1.39 billion in revenue. By comparison, analysts polled by FactSet expected $1.96 per share and revenue to come in slightly lower at $1.38 billion. We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions.
Vista Gold Corp. engages in the evaluation, acquisition, exploration, and advancement of gold exploration and potential development projects. It focuses on Mt. Todd in Northern Territory, Australia project. The company was founded on November 28, 1983 and is headquartered in Littleton, CO. Retailers are among the last of big U.S. companies to report their profits for the start of the year. Most companies in the S&P 500 have turned in earnings that were better than analysts feared. But they’re still on pace to finish with a second straight quarter of drops in profit from year-ago levels.
Past performance should not be viewed as an indicator of future results. Banks are struggling with high interest rates, which have caused some customers to pull their deposits in search of higher yields at money-market funds and other accounts. The charge higher in interest rates over the last year has also knocked down the values of many of the loans and bonds that banks own. Shares of Western Alliance jumped about 7% in extended trading after the bank said that its deposit growth for the current quarter surpassed $2 billion as of May 12. EVGo — The EV charging station supplier fell nearly 16% in midday trading on news of a public offering of $125 million Class A stock.
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“The comes a moment in time when you hit the wall,” McCarthy said. “You can’t continue down this trajectory if you want to continue to be the strongest nation in the world.” To see more companies moving in the premarket, read the full story here.
“Our bull market signposts suggest the S&P 500 may not break out just yet,” wrote Savita Subramanian, head of U.S. equity and quantitative strategy. Only half of those so-called signposts — which include Fed rate cuts and a steepening yield curve — have been triggered. On Wednesday morning, Biden said from the White House that he and the other lawmakers had a “productive” meeting, and will come to an agreement. The Dow Jones Industrial Average traded 370 points higher, or 1.12%.The S&P 500 gained 1.08%, and the Nasdaq Composite advanced 1.16%. Upgrade to MarketBeat All Access to add more stocks to your watchlist.
The comments come a day after President Joe Biden met with top congressional leaders to try to find a way around the debt impasse. McCarthy said the talks resulted in a “structure” to find a solution while noting that the deadline remains “tight” as Republicans look for spending cuts and Democrats seek a clean bill not tied to conditions. “I think at the end of the day we do not have a debt default,” he said on CNBC’s “Squawk Box.” “I think we finally got the president to agree to negotiate.”
Stocks rallied during early afternoon trading on growing hopes of a debt ceiling deal, but defensives continued to lag the market. Target — Shares of the big-box retailer rose more than 2% after the company topped Wall Street’s earnings expectations for its fiscal first quarter. Target’s revenue, however, barely grew year over year, and its shoppers bought more necessities. Target also said it expects sales to remain sluggish in the current quarter, and it anticipates a low-single-digit decrease in comparable sales. Concerns over a potential default has weighed on markets recently. The Dow is down more than 3% this month, including a 1% decline on Tuesday.
Keysight rises on stronger-than-expected earnings
Home Depot and a reading on April retail sales that missed expectations highlighted the impact of higher prices and interest rates on consumers. The two-year yield, which moves more on expectations for action by the Federal Reserve, rose to 4.15% from 4.08%. One of the main positives that’s kept the economy out of a recession so far has been resilient spending by U.S. households. They’ve continued to spend even as manufacturing, the U.S. banking system and other parts of the economy have cracked under the pressure of high rates. Indexes in China fell, while Japan’s Nikkei 225 gained 0.8% to top for the first time since 2021. The WSJ Dollar Index gained 0.3%, on pace to finish higher for the sixth session in the last eight trading days.
Wainwright reiterated a Buy rating on Vista Gold (VGZ – Research Report), with a price target of $2.25. The company’s shares closed last Wednesday at $0.58, close to its 52-… Additional information about your broker can be found by clicking here.
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The new data was in an investor update filed with the Securities and Exchange Commission on Tuesday. Quad leaders will not be going ahead with their meeting in Sydney next week, Australia’s prime minister Anthony Albanese said, according to Reuters. Singapore’s total trade fell to SG$100.3 billion in April, a 18.8% year-on-year drop and extending the 8.6% decrease in March. On a year-on-year basis however, non-oil domestic exports fell 9.8%, more than the economists’ expectations of 9.4%. Home prices in China fell, with prices 0.2% lower year-on-year, compared to a 0.8% decline seen in the previous month, according to Reuters’ calculations. A look under the hood in stocks continues to build on the bear case, according to Wolfe Research.
The technician pointed out market activity on Monday as an example, when the most liquid short rose 3.68%, but then dropped 2.77% on Tuesday. Stocks rallied during early afternoon trading on Wednesday, but BTIG pointed out that investors have seen this kind of activity before — only to be disappointed afterward. Malhotra changed his rating from buy to neutral and said his prior expectations will likely not be met. He said targets of 76% occupancy by the end of this year and 78% by the end of 2024 are likely unachievable, which can lead to higher cash burn and prompt the need for outside capital. He also said the company will likely not be free cash flow positive until its 2025 fiscal year. WeWork shares dropped more than 17% after the company announced chairman and CEO Sandeep Mathrani would step down at the end of the month.
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Semiconductor stocks shined as another bright spot, with shares of Nvidia last up 2.7%. Advanced Micro Devices jumped 2.2%, while ON Semiconductor and Applied Materials popped more than 4% each. On the other hand, financials, information technology, consumer discretionary and communication services stocks have kept the S&P 500 in the green for the week, with each sector advancing more than 1%. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements.
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- By comparison, analysts polled by FactSet expected $1.96 per share and revenue to come in slightly lower at $1.38 billion.
- Target — Shares of the big-box retailer rose more than 2% after the company topped Wall Street’s earnings expectations for its fiscal first quarter.
Since then, VGZ stock has decreased by 13.0% and is now trading at $0.63. The value each VGZ share was expected to gain vs. the value that each VGZ share actually gained. There are multiple ways to fund your Public account—from linking a bank account to making a deposit with a debit card or wire transfer. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
“With that in mind, Equities may trade in a tight range until an outcome is observed with the biggest downside risk coming if we enter Memorial Day weekend without a solution, given the early June x-date.” Traders at JPMorgan expect the market to remain in a tight trading range as lawmakers try to reach a deal on the U.S. debt https://business-oppurtunities.com/how-to-change-your-career-with-a-blog/ ceiling. The firm now rates Wynn Resorts stock as overweight with 31% upside compared to current trading levels. Barclays also highlighted the company’s performance in its Las Vegas properties. Barclays upgraded Wynn Resorts stock on Tuesday, and cited the company’s continued performance in Macau as a driver for growth.
President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday reiterated their determination to strike a deal soon to raise the federal debt ceiling and avoid an economically catastrophic default. Western Alliance said its deposits grew by more than $2 billion so far this quarter. Its shares gained, along with those of PacWest, Comerica and Zions. Regional-bank shares are jumping after Western Alliance—a lender investors have worried about—gave a positive update on deposit growth. Of the 11 S&P 500 sectors, only health care, consumer staples and utilities were trading in negative territory during midday trading.
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