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Investopedia
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Third-quarter earnings season enters the home stretch this week. The quarter appears to have been mixed for corporate America, with companies broadly beating estimates while scaling back fourth-quarter guidance.
Three-quarters of the companies that had reported earnings as of Friday night had beaten earnings estimates, just below the five-year average of 77%, according to FactSet Research. In aggregate, the index has topped expectations by 4.6%, also below the average.
On the plus side, last week was better than those that came before it. The index as of Friday had reported earnings growth of 5.1%, up from 3.6% a week earlier. Earnings got a boost from better-than-expected results from Alphabet (GOOG; GOOGL), Meta Platforms (META), and Amazon (AMZN). Apple (AAPL) and Intel (INTC), both of which missed earnings estimates, were a drag on growth.
Alphabet and Meta have made the Communications Services sector the fastest-growing sector in the S&P 500, with earnings up more than 20% from last year. Excluding the tech giants, the sector’s earnings growth falls to about 7%. But even at that rate, it would still be the index’s third-fastest- growing sector, behind just Health Care and Consumer Discretionary.
The energy sector has been the worst-performing sector so far. Profit is down more than 25% from a year ago, the largest decline of any sector. Three of five sub-industries have reported lower earnings: Oil & Gas Refining and Marketing (-81%), Oil & Gas Exploration and Production (-15%), and Integrated Oil & Gas (-13%).
Companies are being more cautious with their earnings outlooks than Wall Street expected. Of the 55 companies that have forecast fourth-quarter earnings, about 67% have issued guidance below the Street’s consensus.
About one-fifth of the S&P 500 is slated to report this week, after which less than 10% of the index will be left to announce results.
This week’s marquee earnings include several companies with AI stories, including one of the index’s newest components: Palantir Technologies (PLTR), which reports after the closing bell on Monday. The company is expected to report double-digit sales and earnings growth in the quarter.
Chip giant Qualcomm (QCOM) is scheduled to report Wednesday afternoon. The results could be an indication of demand for AI devices, an area that Qualcomm is pursuing with its own AI chips. Qualcomm stock is up about 15% since the start of the year.
Arista Networks (ANET), which develops and sells computer networking equipment to data-center and cloud computing clients, is set to report Thursday afternoon. Tech giants Microsoft and Amazon last week said that demand for AI and cloud computing is so strong that they’re having trouble keeping up with it. Arista’s earnings are expected to reflect the strength of that demand. Arista Networks shares have risen nearly 70% so far this year.
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Instablog9ja
8 hrs
11
Reno Omokri has said when people celebrate the rich, it is not the person they are celebrating. It is the money. If you want to be celebrated, go and make money.
He added that this is why you should stop saying your friends abandoned you when you became broke. They were never your friends. You were just too carried away to realise they were friends to your money.
Churches and mosques are full every Sunday and Friday. But banks are full every day of the work week.Even when banks close, people queue at ATMs. It is a sad reality that demonstrates how relevant money is in today’s world. People will flock to where there is money. Even your relatives can forget your birthday. But they can never forget if you owe them money. So if you want to be celebrated, go and make money. But make it legally.
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Trump Media Stock, Prediction Markets Move On Eve Of Election Day
Shares Of Trump Media & Technol...
Investopedia
8 hrs
14
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Shares of Trump Media & Technology Group (DJT) moved between losses and gains early Monday, extending a volatile stretch of trading for the company that has become a measure of investors’ moods ahead of Election Day.
The company, parent of Truth Social and majority owned by former President Donald Trump, is far from the only vehicle for election betting. Some investors have turned to prediction markets, while others have looked to crypto markets. Trump Media has lately been a high-profile example of the action ahead of tomorrow, though.
Trading on little in the way of company news, the stock last week both rose 40% above the previous week’s close and fell more than 20% below it. Trading in the shares was hit with halts several times along the way, and the company’s multibillion-dollar market cap vacillated.
The stock was up slightly at around $30.60 in recent trading, after losing as much as 5% and rising as much as 6% Monday morning.
Recent polling seen by some analysts as beneficial to Trump’s principal opponent, Vice President Kamala Harris, may have shifted some traders’ bets—a dynamic also seen on prediction markets that, while generally indicating a belief in a Trump victory, have also moved somewhat toward Harris in recent days.
Bitcoin (BTC), which has outperformed the S&P 500 in recent months, has lately pulled back from recent highs; investors generally see Trump as more crypto-friendly, though his Harris has also signaled support for the industry.
Bitcoin was trading around $68,500 recently, about $5,000 below its highs from last week.
Some single stocks have also become particularly linked with the outcome of the election. Tesla (TSLA) CEO Elon Musk is an outspoken Trump supporter, and Wedbush analyst Dan Ives, who has an “outperform” rating on the EV maker’s shares, suggested a range of election scenarios that could affect the stock. These include the possibility of a trade war with China that could weigh on Tesla sales in that market but also a more welcoming environment for the company’s autonomy initiatives, Ives said in a note Sunday.
If, instead of or in addition to, wagering on election outcomes, you’re interested in the policies that the election might produce, here are Investopedia’s roundups of the economic policies espoused by Trump and Harris.
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Instablog9ja
9 hrs
10
Life Coach Shola has shared a reminder to Nigerians following a report about ‘workout videos’ involving Equatorial Guinea’s financial crime chief and over 300 women
He said, this businessman in Equatorial Guinea who was involved in a scandal involving over 400 s£xyapes lacks self control by the way. How are you sleeping with your brother’s wife, your uncle’s pregnant wife, and you’re even filming it? You even got two kids with your brother’s wife. You caused your own family to undergo paternity fra¥d?
The Equatorial Guinea s£xyape scandal should be a reminder for you that women don’t really have a problem with having a thing with married men, it’s only online they forbid it, and yeah married men also get more babes than most of you single men. It is what it is. Women like what other women have. So, a married man is only just beginning to bag chics because he’d attract more women compared to when he was single. Especially if he got married to a high value woman. Other women won’t let him rest.
Nvidia Overtakes Apple As World's Most Valuable Company
Nvidia (NVDA) Shares Rose Monday, P...
Investopedia
9 hrs
9
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Nvidia (NVDA) shares rose Monday, propelling the AI chip leader into the top spot on the list of the world’s most valuable companies.
Shares climbed 1.6% Monday morning, giving Nvidia a market capitalization of about $3.37 trillion, slightly more than the previous leader Apple’s (AAPL) $3.36 trillion. Apple shares were down slightly Monday after slumping last week amid a tech sell-off and disappointing quarterly profits.
Nvidia and Apple, along with software and cloud computing giant Microsoft (MSFT), have been vying for the title of the world’s most valuable company since the summer.
Nvidia was named a component of the Dow Jones Industrial Average (DJIA) on Friday. Nvidia is replacing beleaguered rival chipmaker Intel (INTC). The move will take effect before the market opens on Nov. 8, according to S&P Dow Jones Indices, which manages the index. (Paint company Sherwin-Williams (SHW) was also tapped to join the blue-chip index, taking the spot of chemical giant Dow (DOW).)
Nvidia was about a third of the size of Apple and Microsoft at the beginning of the year, when its market cap stood at $1.2 trillion. Since then, robust demand for AI has fueled the stock’s meteoric rise. Tech giants like Microsoft, Amazon (AMZN), Google parent Alphabet (GOOG, GOOGL), and Meta (META) have committed to spending hundreds of billions of dollars this year and next on infrastructure, with much of that spending going toward the Nvidia semiconductors and servers required to train and run AI models.
The stock hit a road bump in mid-July, when a litany of factors from recession fears to rotation out of mega caps into small-cap stocks, and concerns about unsustainable AI spending sank tech stocks from their all-time highs. Nvidia shares shed a quarter of their value between mid-July and mid-August, but rebounding optimism about artificial intelligence and the resilience of the U.S. economy has revived the stock’s historic bull run.
: This article has been updated since it was first published to add context and reflect current share-price movement.
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Instablog9ja
10 hrs
16
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a former Governor of Delta State, Ifeanyi Okowa, for alleged diversion of N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.
An EFCC source confirmed the former governor’s arrest to Channels Television on Monday. Okowa was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter.
The former governor was alleged to have failed to render accounts of the funds as well as another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas. Specifically, Okowa allegedly bought shares worth N40 billion in one of the major banks in the country representing 8% equity to float the offshore LNG. The funds were alleged to be used for other purposes.
Investigators are also investigating the diversion of funds by the former governor to acquire estates in Abuja and Asaba in Delta state. He is being held at the EFCC holding facility in Port Harcourt. Okowa was the running mate to Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election.
