Palantir Technologies (PLTR) shares dropped 8% after the company posted record quarterly results that blew past analysts’ estimates and raised its full-year revenue outlook for the third straight quarter. Shares advanced 5.5% in recent trading, a day after the Thousand Oaks, Calif.-based firm reported adjusted earnings of $5.64 per share on sales that rose 12% year-over-year to $9.56 billion. Analysts polled by Visible Alpha had expected $5.02 and $8.96 billion, respectively. The Miami-based company posted revenue of $2.94 billion, while analysts surveyed by Visible Alpha were expecting $3.02 billion.
Despite today’s gains, Marriott shares remain slightly negative for the year. “The forward guidance was optimistic as well, looking to add around 5% in new rooms pushing them over 1.8 million rooms worldwide,” Mulberry said. “This scale and their strong cost management has produced durable earnings growth and supported a consistent dividend that has upside potential if these results continue.”
Marvell rises after report SoftBank weighed potential takeover
Soaring prices combined with mortgage rates hovering between 6% and 7% in recent months have pushed up monthly mortgage, insurance, and tax payments for newly purchased houses to a median of $3,106, according to the Federal Reserve Bank of Atlanta. That’s a far cry from the 1980s, when typical first-time buyers were in their late 20s. Sales of $710.6 million were about $5 million above analysts’ projections. It was the seventh consecutive quarter that the company’s sales grew at least 30% from the prior-year period. Childcare costs are rising so fast that the price for one child is more than a month’s rent for some families, according to a 2024 report from the Department of Labor. Average costs also surpassed the average annual tuition and fees at a four-year public college by nearly $1,800, according to a report from The Conference Board.
Data Blackout Continues as 34-Day Shutdown Ties for the Longest In History
Gold futures declined 1.6% to $3,950 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, fell 1.7% to $60.40 a barrel. Amgen (AMGN) was the best-performing stock in the Dow Jones Industrial Average on Wednesday morning after the biopharmaceutical firm posted third-quarter results that easily topped analysts’ estimates. Major stock indexes ended higher Wednesday, the record-breaking 36th day of the U.S. government shutdown, as investors shook off concerns about an AI bubble and the Supreme Court voiced skepticism about President Donald Trump’s tariffs. Denny’s, whose shares closed at $4.11 Monday, were trading at $6.15 about 90 minutes before the cmc markets review bell after it announced that its board unanimously approved a deal that would see stockholders receive $6.25 per share in cash for each share of company stock they own.
Mutual funds enable investors to buy a share of a diversified portfolio of DJIA stocks thus providing exposure to the overall index. With the US government on ice, official datasets have gone dark, pushing investors into over-reliance on private data sources that tend to have a tenuous, volatile relationship with smoothed, large-scale official collections from government sources. Options pricing suggests traders expect AMD (AMD) shares could move up to 7% in either direction by the end of this week. A move of that size from the stock’s recent level around $256 could push shares as high as $274, topping October’s record highs in the wake of a massive deal announced with ChatGPT maker OpenAI. At the low end, it would leave shares around $238, where they were late last month.
Japanese Yen pulls back from over one-week top against USD on weaker domestic data
That’s basically the same as 2024, compared to its previous expectation of an increase of 5% to 7%. In post-earnings moves, Pinterest (PINS) stock dropped almost 22%, Axon Enterprises (AXON) tanked 9%, Arista Networks (ANET) declined about 8.5%, Super Micro Computer (SMCI) sank 11%, Humana (HUM) fell 6%, and U.S.-listed shares of Novo Nordisk (NVO) rose less than 1%. Solana (SOL) trades above $160 at press time on Wednesday, holding steady after 4% rise on the previous day, underpinned by the broader market recovery. Corroborating with steady institutional demand, the retail demand is resurfacing, suggesting further gains for Solana.
- Amgen (AMGN) was the best-performing stock in the Dow Jones Industrial Average on Wednesday morning after the biopharmaceutical firm posted third-quarter results that easily topped analysts’ estimates.
- Filecoin, Dash, and Tezos are spearheading the broader cryptocurrency market recovery with double-digit gains over the last 24 hours.
- Whether those declines will turn into a full-on downturn typical for this stage in the coin market cycle, or coax investors back into the mix with lower prices, remains to be seen.
Dow Jones Industrial Average falls 380 points on Thursday as AI stocks drop
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Filecoin, Dash, and Tezos are spearheading the broader cryptocurrency market recovery with double-digit gains over the last 24 hours. Filecoin leads the rally with 50% gains, while Dash rebounds from the $100 mark and Tezos marks a falling wedge pattern breakout. Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years’ experience as an independent trader focusing on technical analysis. Shares of Denny’s had lost roughly a third of their value this year entering Tuesday. Shares of Norwegian dropped nearly 8%, while those of rivals Royal Caribbean Cruises (RCL) and Carnival Corp. (CCL) fell 5% and 7%, respectively.
- The court is determining whether Trump has the authority to impose tariffs without Congress’s approval under the International Emergency Economic Powers Act.
- Reports from statistical agencies like the Census Bureau, Department of Labor, and Department of Agriculture are all on hold because they lack the staffing to administer the surveys and data collection.
- The Dow Jones Industrial Average (DJIA) tumbled 400 points at its lowest on Thursday, falling to its lowest valuation in nearly two weeks as equity indexes were crushed underfoot by a broad pivot out of AI tech stocks.
- The private data is especially important because the most recent official reports showed inflation rising and the job market weakening.
- The price of bitcoin, the world’s best-known and most-valuable cryptocurrency, earlier today fell more than 3% to its lowest point—below $103,000—since hitting its all-time high price of over $126,000 in early October.
BellRing Brands (BRBR) Registers a Bigger Fall Than the Market: Important Facts to Note
Bank of America analysts were even more bullish, and bumped their target up to a Street high of $255 from $215, calling Palantir a “best-in-class AI enabler.” To buy a house for $410,800, the median price of a home in the U.S. through the second quarter, would require a loan of around $330,000 with a 20% down payment. Per Investopedia’s mortgage calculator, one could pay roughly $1,900 a month at a Gold rate APR of 5.59%, excluding taxes and homeowners insurance. The current shutdown is poised to continue for days or even weeks, according to betting market Polymarket. The prediction market found that 63% of respondents expect the standoff to continue until Nov. 15, while only 14% expect it to be over by this Friday.
For the year, Marriott sees worldwide RevPAR up 1.5% to 2.5%, with the midpoint above consensus, and net rooms growth of 5%. This year, for the first time since 2021, there was an increase in the number of women who said their family is the reason they are not in the labor force, according to the bank. U.S.-listed shares of Novo Nordisk have lost about 46% of their value this year. Wegovy sales rose 18% to DK20.35 billion ($3.13 billion), below expectations.
Stock market today: Dow, S&P 500, Nasdaq fall as Nvidia leads AI trade lower, jobs jitters reignite
Crypto’s fear and greed index, which is aimed at measuring sentiment in the market, turned to fear yesterday from a neutral position last week, according to CoinMarketCap. Most Wall Street analysts lean bullish on AMD’s prospects, with a majority of those surveyed by Visible Alpha calling it a “buy,” thought the stock has already surpassed their consensus target with its recent gains. AMD’s stock has more than doubled in value this year, with much of its rise fueled by optimism spurred by the OpenAI deal last month. Advanced Micro Devices is set to report its latest quarterly results after the closing bell today, with traders expecting a big move in the chipmaker’s stock. Shares of Hertz Global Holdings (HTZ) soared 40% Tuesday after the rental car company posted its first profit in two years. The shutdown has halted the flow of key economic data from the government that’s used by economists, policymakers and businesses to make critical decisions.
The previous outlook was for operating profit to gain 4% to 20% and sales to advance 8% to 14%. It said the change “reflects lowered growth expectations for Novo Nordisk’s GLP-1 treatments within diabetes and obesity.” It’s the fourth time the company narrowed its guidance this year. U.S.-listed shares of Novo Nordisk (NVO) fell after the drugmaker scaled back its outlook, citing disappointing demand for its GLP-1 weight loss and diabetes drugs as competition in the sector increases. The company nowsees fourth-quarter sales of $140 million to $150 million, below its earlier estimates, and reported a full-year outlook of $1.15 billion to $1.16 billion.
Jefferies and HSBC analysts, who have “buy” or equivalent ratings for the stock and $300 price targets, said they came away from Tuesday’s results convinced of AMD’s potential for more AI-driven growth. Most Wall Street analysts, however, remain bullish on the chipmaker’s stock amid expectations of growing market share for AMD. Fellow data-storage firms Micron Technology (MU) and Western Digital (WDC) also were among the top gainers in the benchmark index today, rising 9% and 7%, respectively, to their own record highs. Investors also turned their attention to Tesla’s (TSLA) shareholder meeting, scheduled to start at 4 p.m. A vote on Elon Musk’s proposed trillion-dollar pay package is the main event, amid worries he will quit as the EV maker’s CEO if the plan is rejected. Shares of other megacap chip giants like Nvidia (NVDA) and AMD (AMD) also declined to session lows after the Trump administration’s AI and crypto czar David Sacks said there would be “no federal bailout” for the artificial intelligence industry.
