The S & P 500 Index (SPX) has gained 31% since the April low, breaking out to new highs in a bullish long-term development. The gains have been largely driven by large-cap technology stocks like Nvidia (NVDA) and Microsoft (MSFT) , which are up about 100% and 48%, respectively. These names are relatively overbought, along with much of the market’s leadership, versus the SPX. We think there is greater appeal in relatively oversold stocks as the rally broadens. One sector that is relatively oversold and has a fresh technical catalyst is utilities. The PHLX Utility Sector Index (UTY) is breaking…
Author: usaeverydaylife
FILE PHOTO: The headquarters of the U.S. Food and Drug Administration (FDA) is seen in Silver Spring, Maryland November 4, 2009. Jason Reed | ReutersThe Food and Drug Administration said Monday it has appointed former biotech executive George Tidmarsh as the agency’s top drug regulator.Tidmarsh, an adjunct professor of pediatrics and neonatology at Stanford University’s School of Medicine, will lead one of the biggest and most crucial divisions of the FDA, which reviews the vast majority of new drug applications.The Center for Drug Evaluation and Research, or CDER, regulates over-the-counter and prescription treatments, including biologic therapies and generics. The acting head…
Check out the companies making the biggest moves midday: Bruker — The lab instrument and tools maker shed 12% after the company issued weaker-than-expected guidance for the second quarter. The company expects to earn between 32 and 34 cents per share on revenue ranging from $795 million to $798 million. Analysts polled by FactSet expected a profit of 42 cents per share on revenue of $813.3 million. Block — The fintech stock surged 8% as it prepares to officially join the S & P 500 before the opening of trading on July 23. Block will replace Hess, which has been…
Morgan Stanley is getting more bullish on Pinterest . The firm upgraded the social media stock to overweight from equal weight in a Sunday note, and raised its price target to $45 per share from $37. Morgan Stanley’s forecast calls for about 21% upside from Friday’s close. Analyst Brian Nowak highlighted three reasons for investors to buy Pinterest: GPU-powered “innovation” is beginning to yield results Attractive valuation Investors underappreciating a reacceleration in top-line growth “We have been monitoring PINS’s GPU [graphic processing unit] enabled investments and budding engagement and monetization improvements for multiple quarters,” Nowak said. “Heading into 2H, we…
The stock market is taking President Donald Trump’s tariff threats in stride as investors expect milder duties on U.S. trading partners than initially feared. Goldman Sachs looked at the first day performance in the S & P 500 as well as a basket of stocks with high tariff exposure on dates of key trade developments, such as Liberation Day on April 2 and a hike in China duties on April 7. The Wall Street firm found that the market seems to be reacting less and less to the headlines. “The equity market appears to be unconcerned by the recent tariff…
Dylan Field, co-founder and CEO of Figma Inc., after the morning sessions at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 11, 2024.David Paul Morris | Bloomberg | Getty ImagesDesign software company Figma on Monday published an updated prospectus for its initial public offering.The company said it expects to sell about 37 million shares at $25 to $28 each. That would generate as much as $1 billion in proceeds, between the company and selling shareholders.The IPO could value Figma, led by co-founder Dylan Field, a fully diluted valuation of $14.6 billion to $16.4 billion.…
Chevron completing the acquisition of Hess following a legal battle with Exxon Mobil opened up a space for a new constituent of the S & P 500 to be added: Jack Dorsey’s fintech giant Block (XYZ). Shares jumped nearly 9% on the news Friday and traded roughly 2½ times the average daily options volume, with calls outpacing puts by well over 4:1. Perhaps overshadowed by more recent fintech players more closely associated with crypto, including Block, PayPal remains a dominant player in the digital payments industry. It has an extensive network of over 426 million active accounts, 35 million merchant…
Dayna and Matt Fancher lost their home in Fort Myers Beach, Florida, to Hurricane Ian in 2022.One month into this year’s hurricane season, the couple is still paying their home insurance policy — now twice as costly — while fighting the firm in court over their claim.The Fanchers, who have lived in their Fort Myers Beach home for almost three decades, said their home insurance provider paid them only a third of what it would cost to rebuild their home, and that adjusters repeatedly disputed their storm damage claims. In the end, the Fanchers say, they took out construction loans…
Scott Bessent, US treasury secretary, during a Bloomberg Television interview in New York, US, on Friday, May 23, 2025. Bloomberg | Bloomberg | Getty ImagesTreasury Secretary Scott Bessent said Monday that implementing high tariff rates on countries starting August 1 “will put more pressure on those countries to come with better agreements.”Bessent’s remarks suggest that he views President Donald Trump’s planned massive tariffs on top trading partners — which have been postponed until Aug. 1 — as not so much a deadline to ink deals, but as another negotiating tactic to squeeze the impacted countries to acquiesce to favorable terms…
A Microsoft store in New York, US, on Friday, Oct. 25, 2024. Jeenah Moon | Bloomberg | Getty ImagesMicrosoft has warned of “active attacks” targeting its SharePoint collaboration software, with security researchers noting that organizations worldwide stand to be affected by the breach.The Cybersecurity and Infrastructure Security Agency said Sunday in a release that the vulnerability provides unauthenticated access to systems and full access to SharePoint content, enabling bad actors to execute code over the network.CISA said that while the scope and impact of the attack continue to be assessed, the agency warned that it “poses a risk to organizations.”Microsoft…
