Select a category
Advertisement
Investopedia
5 mths
15
:max_bytes(150000):strip_icc()/GettyImages-2059065621-f57a0984e1a149c8a0d683dfb9701f6e.jpg)
Eli Lilly (LLY) shares are jumping in premarket trading after strong second-quarter results and a guidance lift; Warner Bros. Discovery (WBD) shares are tumbling after a massive write-down in its cable networks' value led to an almost $10 billion quarterly loss; Alphabet's (GOOGL) Google and Meta Platforms (META) reportedly collaborated in secret to target Instagram advertisements to teenagers on YouTube; Boeing's (BA) new Chief Executive Officer (CEO) Kelly Ortberg takes over the helm of the embattled plane maker from Dave Calhoun today; and shares of dating site Bumble (BMBL) are plunging after it cut its full-year app revenue growth outlook. U.S. stock futures are little changed after shares closed lower Wednesday. Here's what investors need to know today.
Eli Lilly (LLY) shares are surging 10% in premarket trading after the drugmaker reported second-quarter results that easily beat forecasts and boosted its 2024 outlook on the back of booming demand for its weight-loss drugs Mounjaro and Zepbound. It reported revenue of $11.3 billion, up 36% year-over-year and well above analysts' forecasts of $9.97 billion, while earnings per share (EPS) of $3.28 was also a massive beat. Lilly said it was boosting its 2024 revenue guidance by $3 billion to the range of $45.4 billion to $46.6 billion, and its EPS projection to $15.10 to $15.60 from $13.05 to $13.55 previously. On Wednesday, American depositary receipts (ADRs) of rival Novo Nordisk (NVO), maker of the Ozempic and Wegovy weight-loss drugs, slumped after the Danish firm lowered its operating profit guidance even as it upped its sales outlook for the year.
Warner Bros. Discovery (WBD) shares are plunging 10% in premarket trading after the entertainment company recorded an almost $10 billion second-quarter loss, hit by a write-down in the value of its cable networks. The company posted a $9.1 billion non-cash goodwill impairment charge from its cable networks segment, showing that CNN and TNT, among others, continue to be disrupted by streaming services like Netflix (NFLX). The company's fortunes don't look much brighter, either, after its TNT Sports unit lost out on the lucrative 11-year media rights deal to show NBA games last month. Warner Bros. Discovery's loss for its second-quarter widened to $9.99 billion from $1.24 billion in the same period last year, while revenue fell to $9.71 billion from $10.36 billion. Analysts polled by Visible Alpha anticipated a loss of just $562.7 million on $10.17 billion in revenue.
Alphabet's (GOOGL) Google and Meta Platforms (META) reportedly had a "secret deal" to target Instagram advertisements to teenagers on YouTube. According to the , Google had a marketing project aiming to pull 13- to 17-year-old YouTube users into Meta's Instagram, circumventing the search giant's rules barring personalized ads to those under 18, the report said. The companies partnered with Spark Foundry for a pilot marketing program in Canada between February and April, and then had a trial in the U.S. in May, with plans to expand internationally and also promote Meta's Facebook platform, people familiar with the matter said. Shares of Alphabet and Meta are little changed in premarket trading.
Boeing's (BA) new Chief Executive Officer (CEO) Kelly Ortberg, a former engineer and CEO of Rockwell Collins, takes over the helm of the troubled aircraft maker from today onwards, replacing outgoing CEO Dave Calhoun. Ortberg will be overseeing the company as it comes off a massive second-quarter loss and navigates safety incidents, tense Congressional testimony, investigations from regulators and law enforcement, and a guilty plea for defrauding the federal government. Boeing planes have been involved in a growing number of safety mishaps ever since a door plug on an Alaska Airlines Boeing 737 Max 9 plane blew out in midair in January. Boeing shares are little changed in premarket trading.
Bumble (BMBL) shares are tumbling 40% in premarket trading after the online dating operator slashed its 2024 app revenue forecast to between 1.5% and 2.5% year-over-year growth from a range of 9% to 11% previously. JPMorgan analysts downgraded the stock to "neutral" from "overweight," noting that Bumble's app relaunch in May, which included new features like photo insights, didn't translate to new users in the U.S. or help with monetization. "We continue to believe Bumble offers a differentiated, women's first experience, but we are moving from Overweight to Neutral-rated while the company works through its strategic reset," the broker said.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Instablog9ja
5 mths
12
In a surprising turn of events at the 2024 Olympics, Nigerian cyclist Ese Lovina Ukpeseraye expressed gratitude towards the German team for their assistance after Nigeria’s sports authorities failed to provide her with a bicycle on short notice. Due to logistical issues and mismanagement, Ukpeseraye, who was preparing for her event, found herself without a crucial piece of equipment.
The German team’s gesture was a lifeline, enabling Ukpeseraye to participate in the competition despite the setback. In a heartfelt message, Ukpeseraye thanked the German athletes for their support, highlighting the kindness and camaraderie that transcends international boundaries.
Advertisement
Investopedia 5 mths 10
The iShares Semiconductor ETF (SOXX) dropped nearly 3% on Wednesday amid heightened volatility within the chip sector after Monday’s global stock market selloff. This week's decline coincided with a report that artificial intelligence (AI) darling Nvidia's (NVDA) highly anticipated Blackwell chips would be delayed by at least three months.
Over the last week, the ETF has come under increasing pressure from growing concerns about the health of the U.S. economy and disappointing earnings from chip giant Intel (INTC), which commands a 2.93% weighting within the fund's portfolio.
On Wednesday, the fund fell 2.8% to close at $199.29, its lowest level since mid-April.
Below, we take a closer look at the SOXX ETF chart, while using technical analysis to outline important support and resistance levels to watch out for.
Since topping out last month, the SOXX ETF has undergone a sharp correction of around 25% on above-average volume, indicating conviction from institutional investors behind the move.
More recently, the fund has fallen below the closely watched 200-day moving average (MA), with a brief attempt to reclaim the indicator on Wednesday failing after the price closed towards its session low.
If the fund continues to move lower, investors should monitor two key areas where the price could attract buying interest.
The first sits around $195, just 2% below Wednesday’s close, This level on the chart could see buyers seeking entry points near a horizontal line that connects the December 2023 peak and January trough, which also closely aligns with Monday’s selloff low.
A breakdown below this level may lead to a retest of the $179 area, an area where the ETF would likely find support from the July 2023 swing high and January swing low.
If buyers reclaim the 200-day MA, it’s worth watching several important price levels on the chart where the fund may encounter selling pressure.
Firstly, an initial attempt at a recovery may run into resistance around $215 near a range of comparable trading levels between late February and early May that roughly align with the Aug. 2 pre-gap low.
A move above this area could see the fund climb to $239, a level where sellers may be happy to lock in profits near the March and May highs, which current sit in close proximity to the downward sloping 50-day MA.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]
Read more on Investopedia
Favoursplashy
5 mths
51
Investopedia
5 mths
13
:max_bytes(150000):strip_icc()/Nvidia-and-AMD-f306c6c5995641fa8e82e0135bdb586b.jpg)
Nvidia (NVDA) and Advanced Micro Devices (AMD) shares lost ground Wednesday, after a tough stretch for the chip stocks with a global sell-off earlier in the week and reported delays in the launch of Nvidia’s new Blackwell chip.
However, recent losses could offer a "tremendous opportunity" for investors to buy the dip, with both chipmakers expected to benefit from the artificial intelligence (AI) boom, Piper Sandler analysts said according to .
Nvidia told Investopedia Tuesday that Blackwell production is "on track" to ramp in the second half of the year, adding, "beyond that, we don't comment on rumors.”
Piper Sandler analysts said they interpreted the company's comments to mean Nvidia "is not anticipating any meaningful impact or delays to the timing of its Blackwell chip."
The analysts said that if the Blackwell ramp is delayed, it could have a roughly $1 billion impact on the October quarter and a between $2 billion and $3 billion effect on the January quarter.
Nvidia may provide additional information about the reported delays in its earnings report set for Aug. 28.
Piper Sandler analysts called AMD a "top pick" for AI investors, highlighting its potential to gain as well, citing its product leadership, possible benefit from a Blackwell delay, and positioning to gain from Intel's (INTC) recent challenges.
AMD could grow to hold a larger share of the accelerator market in the coming years, the analysts said, as it gains on competitors.
Shares of Nvidia finished 5.1% lower at $98.95 Wednesday, while AMD lost 1.2% to $128.67. However, even with Wednesday's losses, Nvidia shares have nearly doubled in value since the start of the year. AMD shares were down close to 13% over the same period.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]
Read more on Investopedia
Advertisement
Favoursplashy
5 mths
58
