Check out the companies making headlines in midday trading: Intel — The chipmaker jumped 8.5% on news that Intel is working with bankers to explore options to address weaknesses in its core business. Elastic NV — The stock plunged more than 27% after its fiscal second-quarter revenue forecast missed Wall Street’s expectations. The artificial intelligence search company now expects revenue for the period to come in between $353 million and $355 million. Analysts surveyed by LSEG had estimated $361 million. MongoDB — Shares of the developer data platform surged around 16% after the company posted an earnings and revenue beat…
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Ulta Beauty shares sank 7% in extended trading Thursday as the company fell short of second-quarter expectations and trimmed its full-year guidance after a decline in same-store sales during the most recent period.It was the company’s first earnings per share miss since May 2020 and first revenue miss since December 2020.Comparable sales for the second quarter fell 1.2%, compared with an 8% increase a year earlier and well below the 1.2% growth that Wall Street analysts had expected, according to StreetAccount.”While we are encouraged by many positive indicators across our business, our second quarter performance did not meet our expectations,…
Investors looking for a way to generate more income now that interest rates appear set to fall can look to wring some extra cash out of their stock portfolio using options. Bank of America derivatives analyst Arjun Goyal this week identified stocks that are strong candidates for an “overwriting” strategy. The trade, also called “call writing,” involves selling a call option on a stock that an investor already owns and is effectively a bet that the stock won’t rise too much before the contract expires. “The strategy is best suited for names the call seller has a neutral short-term view…
Julian Emmanuel, Evercore ISI, joins ‘Fast Money’ to talk today’s record market action and how it could manifest in the second half of the year. Source link
The Good Brigade | Digitalvision | Getty ImagesMortgage rates are fallingMortgage rates have already started to come down from recent highs, largely due to the prospect of a Federal Reserve-induced economic slowdown. The average rate for a 30-year, fixed-rate mortgage dropped to 6.35% on August 29 from 6.46% a week ago, the lowest mortgage rates have been in 15 months, according to Freddie Mac.”Would-be homebuyers are likely going to get a much more attractive rate today than they would have just a few short months ago,” said Jacob Channel, senior economic analyst at LendingTree.Still, many home shoppers are anchored to the…
Participants during the snowboarding activity with the Hoods to Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024.Danielle DeVries | CNBCEAST RUTHERFORD, N.J. — For 16-year-old Zyshawn Gibson, snowboarding down the indoor ski park at Big Snow American Dream in East Rutherford, New Jersey, was a welcome change of scenery.Gibson’s participation at the ski park was made possible through the Hoods to Woods Foundation, a nonprofit based in New York and New Jersey that “promotes awareness of the outdoors to inner city children through snowboarding,” according to the organization’s website. Through its 15-year…
On Thursday morning, Republican presidential nominee Donald Trump told his 90 million followers on X that they would hear his plan to make the U.S. the crypto capital of the planet that same day.But after a rally in Michigan and a town hall in Wisconsin, Thursday ended with no sign of Trump’s plan for digital assets.A campaign spokesman did not reply when CNBC asked what happened to the crypto plan rollout.Throughout the day Thursday, CNBC heard from several pro-crypto Trump supporters who were eagerly anticipating what the Republican nominee might say.A town hall Thursday night moderated by bitcoin supporter and former Congressman,…
Paris 2024 Paralympic Games logo, on July 22, 2024, in Paris France. Nurphoto | Nurphoto | Getty ImagesAs the dust of the 2024 Paris Olympics settles, venues across the City of Light welcome a new crop of athletes for the Paralympic Games.While the International Paralympic Committee does not dole out prize money for winning medals, several countries do reward their athletes with medal bonuses.Here’s how much some athletes are set to earn for their sporting achievements, based on information compiled by CNBC from national Paralympic committees, sports associations and local reports:At the start of the year, the Canadian Paralympic Committee announced…
Delta Air Lines planes sit parked at Hartsfield-Jackson Atlanta International Airport in Atlanta on June 28, 2024.Andrew Harnik | Getty ImagesDelta Air Lines’ chief operating officer is leaving at the end of the month, the company said in a securities filing Friday.CEO Ed Bastian said in an employee memo that Chief Operating Officer Mike Spanos is taking a job at another company.His departure, after just over a year on the job, comes weeks after Delta suffered a meltdown in the wake of the massive CrowdStrike outage in July. Delta estimates those disruptions cost the airline some $500 million and said…
Jakub Porzycki | Nurphoto | Getty ImagesOpenAI and Anthropic, two of the most richly valued artificial intelligence startups, have agreed to let the U.S. AI Safety Institute test their new models before releasing them to the public, following increased concerns in the industry about safety and ethics in AI.The institute, housed within the Department of Commerce at the National Institute of Standards and Technology (NIST), said in a press release that it will get “access to major new models from each company prior to and following their public release.”The group was established after the Biden-Harris administration issued the U.S. government’s…
