IQVIA leads S&P gainers on strong earnings
24 minutes ago
Shares of IQVIA (IQV) were the biggest riser in the S&P 500 index after the life sciences clinical research company reported second-quarter results that beat analysts’ expectations on revenue and net profit.
The company also raised its full-year outlook, saying technology and analytics products were a major driver of growth.
IQVIA shares were up about 8% in late trading on Monday, putting the stock in positive territory for the year to date.
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-Andrew Kessel
Reddit’s stock soars, leading the advancement of social media
1 hour 47 minutes ago
Shares of social media company Reddit (RDDT) soared on Monday after the company announced it would partner with the NBA, NFL and other major U.S. sports leagues to give users access to official highlights and other content.
Reddit, widely known as a platform for its vibrant retail investing community, rose more than 6% in afternoon trading, outpacing gains from other social media companies. Meta Platforms (META), the parent company of Facebook and Instagram, Pinterest (PINS) and Snapchat parent Snap (SNAP) all rose on Monday.
Shares of Truth Social’s parent company, Trump Media & Technology (DJT), fell as investors recalibrated their expectations for the U.S. presidential election following President Joe Biden’s announcement on Sunday that he was dropping out of the race.
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Reddit’s stock price has generally risen since its initial public offering (IPO) in March but remains slightly below the highs it hit earlier this month.
-David Marino Nacheson
Verizon shares fall after earnings announcement
3 hours 12 minutes ago
Verizon (VZ) shares plummeted on Monday after the company reported second-quarter profits that fell short of analysts’ expectations, despite gains in subscribers for both its Internet and mobile phone services.
Verizon Communications CEO Hans Vestberg said this during a panel session at the World Economic Forum in Davos, Switzerland on January 17, 2024:
Holly Adams/Bloomberg/Getty Images
Revenue rose less than 1% to $32.8 billion from the second quarter of fiscal 2023, below the $33.06 billion analysts had expected, according to consensus estimates compiled by Visible Alpha. Net income fell to $4.7 billion from $4.77 billion last year, but analysts had expected profits to rise to $4.84 billion.
Verizon said it expects to meet its full-year guidance. The company expects wireless revenue to grow 2% to 3.5% and adjusted earnings per share to be between $4.50 and $4.70.
Verizon shares fell more than 6% in recent trading, making it one of the biggest fallers in the S&P 500 index.
-Aaron McDaid
CrowdStrike stock continues to fall
4 hours 31 minutes ago
CrowdStrike (CRWD) shares fell sharply again on Monday, expanding a major selling squeeze that began on Friday after a cybersecurity firm’s software update caused an outage of Microsoft’s (MSFT) cloud services, disrupting businesses around the world.
Meanwhile, shares of CrowdStrike competitors Palo Alto Networks (PANW) and SentinelOne (S) rose on Friday following the outage and continued to rise.
CrowdStrike shares face “non-negligible downside risk” as the company is a “premium business” trading at 15 times 2025 sales, Deutsche Bank analysts said in a Monday note.
“Competitors such as SentinelOne, Microsoft and even Palo Alto Networks will no doubt try to capitalize on CrowdStrike’s misfortune,” they said.
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CrowdStrike shares fell 10% in recent trading, to their lowest level since early January.
-Nisha Gopalan
Nvidia rises at open after last week’s drop
5 hours 48 minutes ago
Nvidia (NVDA) shares rose Monday after falling nearly 9% last week, as investors scaled back some of this year’s best-performing AI chip maker due to growing concerns about tightening trade restrictions and geopolitical risks.
Source: TradingView.com.
Nvidia shares have been in a long-term uptrend, but trading volume has declined since the stock price hit an all-time high last month, which could signal a slowdown in momentum or simply a pause in the trend.
If it sustains above the $116 level, it could form the foundation for another trend leg up towards the $195 area based on a bar pattern that extracts the trend from April to June and applies it to this initial support area.
Other key support levels on Nvidia’s charts include $97 and $75, and the stock could attract buying interest near a trendline connecting these key price points.
Click here for technical analysis of Nvidia stock.
-Timothy Smith
Futures tracking major indexes rise on Monday
6 hours 58 minutes ago
Futures tracking the Dow Jones Industrial Average rose 0.2%.
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S&P 500 futures rose 0.7%.
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Nasdaq 100 futures rose 1.1%.
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