U.S. shares of Taiwan Semiconductor Manufacturing Co. rode the wind behind Nvidia Corp.’s record revenue forecast to their best week in nearly a year and a half. TSM TSM, +2.24% shares rose 12% Thursday as Nvidia Corp.’s stock NVDA, +2.54% soared in response to news of a wave on expected sales of chips used for…
A mind-blowing Thursday surge by shares of chip maker Nvidia Corp. that fed a frenzy for artificial-intelligence stock market plays reinforces a cardinal rule for traders, said a technician at a top Wall Street research firm. “Yesterday’s move in NVDA was one for the record books,” said Kevin Dempter, analyst at Renaissance Macro Research, in…
Nvidia Corp. executives predicted record revenue well beyond anything the company has experienced Wednesday, pushing shares toward all-time highs, as margins improve with AI-driven data-center sales. Nvidia NVDA, -0.49% guided for second-quarter revenue of $11 billion, plus or minus 2%; the chip maker has never before reported quarterly revenue higher than $8.29 billion, which it…
Here are some of the more prominent movers on Tuesday: Stock gainers: Lowe’s Companies Inc.’s stock LOW, +2.18% jumped 1.7% in afternoon trading, after the home improvement retailer beat fiscal first-quarter profit expectations. While same-store sales fell more than forecast, they outperformed rival Home Depot Inc. HD, +1.75%, and the lowered full-year profit guidance range…
Shares of Adani Enterprises, and other Adani Group companies, surged on Monday after a preliminary report that didn’t find evidence of stock-price manipulation. Adani Enterprises 512599, +18.66%, the flagship company, saw its shares jump 17%, as other companies including Adani Wilmar 543458, +10.00% rose as well. A panel convened by India’s Supreme Court said in…
This story has been updated to reflect that the Fitch debt downgrades on PacWest, Trustmark and Western Alliance took place in April. Credit rating agency Fitch Ratings on Thursday said it completed a review of the debt of 14 small and mid-sized banks in its coverage and said no further downgrades appear to be needed…
Alibaba Group shares 9988, -5.24% fell in Hong Kong trade, extending overnight losses on Wall Street, after the Chinese e-commerce giant’s latest quarterly revenue growth missed some analysts’ expectations. The stock has lost as much as 5.9% and was last down 5.1%. The selloff came after Alibaba posted a 2% revenue increase for its fourth…
Shares of Farfetch Ltd. jumped 18% in the extended session Thursday after the luxury fashion company posted a narrower-than-expected adjusted loss for its first quarter and sales that topped expectations. “Our first-quarter results represent the first step towards achieving our plan for 2023 … and demonstrate our strong execution in the face of continued macro…
Bath & Body Works Inc.’s stock soared 9% Thursday, after the retailer posted better-than-expected fiscal first-quarter earnings and raised its bottom-line guidance. The move put the stock on track for its biggest one-day percentage gain since Jan. 4, when it rose 10.5%. It’s now up for five of the past six days. The volume of…
Corrects value in paragraph 12 to “a couple of hundred billion dollars”. Quarterly U.S. regulatory filings this week revealed that Scion Asset Management, the hedge fund founded by Michael Burry, doubled down on China stock bets. The question is, should investors? Burry’s investment moves are widely followed as he correctly called the collapse of the…
Tencent Holdings shares 700, -0.93% fell after its first-quarter profit missed expectations, though analysts broadly looked past the disappointment as they focused on the company’s longer-term growth potential. The stock fell as much as 3.9% on Thursday and was recently 1.1% lower at 339.00 Hong Kong dollars. The Chinese tech giant on Wednesday said its…
Boot Barn Holdings Inc. shares dropped 16% in the extended session Wednesday after the retailer reported a mixed fourth quarter and its same-store sales dropped more than expected. Boot Barn BOOT, +4.05% earned $46.4 million, or $1.53 a share, in the quarter, compared with $44.7 million, or $1.47 a share, in the prior-year period. Adjusted…
Take-Two Interactive Software Inc. shares surged in the extended session Wednesday, after the videogame publisher’s weak outlook appeared to confirm a timeline for the next iteration of its blockbuster “Grand Theft Auto” videogame franchise. Take-Two TTWO, +0.78% shares rallied 10% after hours, following a 0.8% gain to close the regular session at $125.02, for a…
The New York Stock Exchange suspended Audacy shares Tuesday and will seek delisting proceedings, citing the stock’s low price levels. Audacy shares AUD, -12.52% were down 13% to 9 cents before a mid-afternoon trading halt for pending news. Audacy said in April that it would seek stockholder approval for a reverse split as it sought…
Chinese lithium producer Ganfeng Lithium shares jumped in both Hong Kong and China, as investors welcomed the company’s latest move to expand its mining and battery production businesses. The company’s Hong Kong-listed shares 1772, +6.22% have gained as much as 8.0% and were last up by 5.5%. In Shenzhen, Ganfeng Lithium shares 002460, +8.00% advanced…
Eli Lilly & Co. was on track Friday to close with a greater market capitalization than Johnson & Johnson for the first time since October 1997, according to Dow Jones Market Data. The stock LLY, +0.13% has been steadily rising since the release of positive data from a trial of a treatment for Alzheimer’s disease…
Shares of Chinese e-commerce giant JD.com 9618, +7.04% were higher in Hong Kong trade, with analysts unfazed by a management change and welcoming a positive outlook in the wake of first-quarter earnings. Shares were up 6.9% at HK$144.30 in Friday morning trade, paring year-to-date losses to 34%. The gain comes after the company posted a…
AppLovin Corp. and Unity Software Inc. shares rallied Thursday after both app-monetization companies turned in better-than-expected results and forecasts late Wednesday, but analysts were cautious about how fast the mobile ad market was recovering. AppLovin APP, +23.53% shares soared as much as 29% to an intraday high of $23 to more than double their price…
Li Auto’s shares HK:2015 rose sharply in Hong Kong on Thursday morning after the Chinese electric-vehicle maker reported a swing to a net profit in the first quarter from a net loss a year earlier. The company’s H-shares were recently 15% higher at 113.80 Hong Kong dollars (US$14.53) after earlier rising as much as 17%…
Shares of Robinhood Markets Inc. moved higher after hours on Wednesday after the trading app reported first-quarter results that were better than expected — even as trading activity remains muted when compared to last year. But in Robinhood’s HOOD latest efforts to reverse that trend with new products — including things like IRAs and forays…