Stock Market Overview
Sat, Nov 2nd, 2024
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Stocks Finish Higher on Strength in Tech Earnings
Barchart - Fri Nov 1, 3:32PM CDT
The S&P 500 Index ($SPX) (SPY) Friday closed up +0.41%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.69%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.72%.
Stocks on Friday settled moderately higher on some positive corporate earnings results. Amazon.com closed up more than +6% after forecasting Q4 operating income above consensus. Also, chip stocks rallied on Friday, led by a +7% jump in Intel after it reported better-than-expected Q3 revenue and forecasted Q4 revenue above consensus. Stocks looked past Friday’s weaker-than-expected US payroll and ISM manufacturing reports, as the weakness was due to two hurricanes and labor strikes last month.
On the negative side, Apple closed down more than -1% after reporting Q4 service revenue below consensus and weaker-than-expected China revenue. In addition, Amcor Plc closed down more than -7% after reporting Q1 net sales below consensus. Stock indexes fell back from their best levels Friday after bond... Read more
Nvidia replaces Intel on the Dow index in AI-driven shift for semiconductor industry
AP - Sat Nov 2, 12:41PM CDT
Nvidia is replacing Intel on the Dow Jones Industrial Average, ending a 25-year-run for a pioneering semiconductor company that has fallen behind as Nvidia cornered the market for chips that run artificial...
Thanks to Wall Street, Novo Nordisk Stock is Now a Buy
Barchart - Sat Nov 2, 10:15AM CDT
Novo Nordisk has lost about a quarter of its value since the end of June. Meanwhile, indications are that its diabetes and weight-loss drugs may be useful in fighting cardiovascular disease, arthritis,...
Retail Investors Remain Cautious After Anika’s Q3 Earnings Misses Estimates
Stocktwits - Sat Nov 2, 1:48AM CDT
Barrington analyst Michael Petusky has cut the firm’s price target to $25 from $37
Shuttle Pharma (SHPH) Stock Surges on Clinical Trial, Financing and Debt Elimination News
Stocktwits - Sat Nov 2, 1:48AM CDT
Shares of Shuttle Pharmaceuticals are on the rise following a string of recent developments, including positive updates on its Phase 2 clinical trial, a new $4.5 million public offering and the paying...
Coca-Cola (KO) and PepsiCo Face Legal Battle on Plastic Waste Accountability
Quiver Quantitative, Inc. - Fri Nov 1, 8:58PM CDT
Los Angeles County has filed a lawsuit against PepsiCo (PEP) and Coca-Cola (KO), accusing the beverage giants of contributing to plastic pollution and engaging in deceptive business practices. The suit,...
Humacyte (HUMA) Faces Regulatory Scrutiny as FDA Raises Quality Concerns
Quiver Quantitative, Inc. - Fri Nov 1, 8:58PM CDT
Humacyte (HUMA) experienced a decline of 1.94% in its latest trading session, closing at $5.05, which was slightly more than the S&P 500's 1.86% daily loss. Over the past month, Humacyte's shares have...
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