CoreWeave’s stock dropped 14% after the renter of artificial intelligence data centers reported a bigger-than-expected loss.In its second quarterly financial results as a public company, CoreWeave reported an adjusted loss of 27 cents per share, compared to a 21-cent loss per share expected by analysts polled by LSEG.CoreWeave’s results came as the lock-up period following its initial public offering is set to expire Thursday evening and potentially add volatility to shares. The term refers to a set period of time following a market debut when insiders are restricted from selling shares.”We remain constructive long term and are encouraged by today’s…
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CoreWeave’s latest quarterly results surpassed Wall Street’s expectations, and while analysts reacted favorably to the results, an upcoming lock-up expiration was another matter. CoreWeave – which rents out Nvidia chips to companies – posted second-quarter revenue of $1.21 billion, above the $1.08 billion that analysts surveyed by LSEG had estimated. The company also issued better-than-expected forward guidance. While CoreWeave shares shares more than doubled in the past three months, soaring 107%, the stock was down 12% in early trading Wednesday. CRWV 1D mountain CRWV, 1-day Some analysts said that the move lower could be tied to lock-up expiration effective at…
Bank of America says the defense contractor V2X is benefiting from a “scale and scope strategy coming to fruition.” BofA upgraded the 11-year-old, Reston, Virginia based manufacturer to buy from neutral on Wednesday, raising its price target to $65 per share from $55. The bank’s forecast implies more than 19% upside from Tuesday’s $54.56 close. V2X jumped 7% in early trading Wednesday, brining its year-to-date gain to 22%. Analyst Mariana Perez Mora pointed to V2X recently winning a contract tied to the T-6 aircraft “as a key enabler of growth.” “[W]e would expect to start to see full revenue contribution…
An independent contractor wearing a protective mask and gloves loads Amazon Prime grocery bags into a car outside a Whole Foods Market in Berkeley, California, on Oct. 7, 2020.David Paul Morris | Bloomberg | Getty ImagesAmazon is rolling out same-day delivery of fresh foods to more pockets of the U.S. as it looks to encourage shoppers to add meat and eggs to their order while they’re browsing its sprawling online store.The company announced Wednesday it’s bringing the service to more than 1,000 U.S. cities and towns, including Raleigh, North Carolina, Tampa, Florida, and Milwaukee, Wisconsin, with plans to reach at…
Check out the companies making headlines in premarket trading. Cava — The fast-casual restaurant chain plunged 23.6% after revenue came in at $280.6 million for the second quarter, missing the LSEG consensus forecast of $285.6 million. The company also missed expectations for same-store sales and lowered its forecast. However, Cava earned 16 cents per share in the quarter, exceeding Wall Street’s estimate of 13 cents. CoreWeave – The artificial intelligence infrastructure provider dropped about 9% despite it posting better-than-expected revenue for the second quarter. During an earnings call with analysts, CFO Nitin Agrawal said that revenue growth remains capacity constrained…
Goldman Sachs is turning more bullish on CACI International . Goldman double upgraded the cybersecurity, cloud and defense stock to buy from sell on Wednesday and raised its price target to $544 per share from $407. Goldman’s forecast implies about 14% upside from Tuesday’s $477.23 close. Analyst Noah Poponak said that CACI has emerged as the “best positioned company” in the information technology sector since the Trump administration took power earlier this year, especially since the stock is cheaper than some of its peers. The analyst also said he expects the company “to grow faster than peers over the medium-term.”…
We are so back. The S & P 500 and Nasdaq Composite scored fresh record highs on Tuesday, as expectations of a lower overnight lending rate from the Federal Reserve reawakened animal spirits on Wall Street. Goldman Sachs also pointed out that this latest run to all-time highs coincides with increased retail participation by Main Street investors — which could signal it’s time to delve into meme stocks once again. “Recent weeks have seen a resumption of retail buying activity in S & P 500 and [Nasdaq] 100 stocks, and we believe the meme stock resurgence has spread into the…
Key PointsEther at one point Wednesday traded as high as $4,714.02, putting it less than $200 away from its November 2021 all-time high.Inflows into ether ETFs are up to $1.5 billion so far this week, compared to $244 million into bitcoin ETFs. Standard Chartered raised its price target on ETH to $7,500 by the end of the year from $4,000.Ether could test its all-time high this week for the first time since the cryptocurrency saw the level in 2021, if investors keep up this week’s buying momentum. The price of ether, better known by its ticker ETH, was last higher…
The Trump administration is considering 11 candidates to replace Federal Reserve Chairman Jerome Powell when his term expires in May, including three that have not previously been publicly named, according to two administration officials who declined to be named.The new names includes Jefferies Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and Rick Rieder, chief investment officer for global fixed income at BlackRock.They now join a list of 8 other candidates that CNBC has confirmed are under consideration, including Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Chris Waller, and Fed Vice Chair Philip Jefferson. The officials…
Here are Wednesday’s biggest calls on Wall Street: Wells Fargo reiterates Dell as overweight Wells said shares of Dell have more room to run. “We continue to see Dell as best-positioned AI server momentum story.” Goldman Sachs reiterates Broadcom as buy Goldman raised its price target on Broadcom to $340 per share from $315 ahead of earnings on Sept. 4. “We believe expectations are elevated heading into the quarter, but many investors are positioned cautiously given elevated valuation, Street numbers which incorporate healthy growth in 2026, and few near-term catalysts.” Cantor Fitzgerald initiates Travelers as overweight Cantor said it’s bullish…
