Wednesday’s Biggest S&P 500 Movers
2 minutes ago
progressive
United Airlines (UAL) stock soared 12.4%, making it the best performer in the S&P 500 on Wednesday after the airline announced better-than-expected third-quarter revenue and profits. Recorded. United Airlines also announced a $1.5 billion stock buyback plan. Shares of rival airline Delta Air Lines (DAL) rose 6.8%. A strong financial report also contributed to the rise in Morgan Stanley (MS) stock, which rose 6.5%. The financial services giant posted year-over-year growth in sales and profits, with net interest income (NII) increasing year-on-year and beating analysts’ expectations. Morgan Stanley also set itself apart from some of its consumer-focused rival banks, which had to reduce its allowance for credit losses (PCL) and increase its cushion against potential losses. Walgreens Boots Alliance (WBA) shares rose 6.2%, up from previous trading after the drugstore operator beat quarterly expectations and announced a turnaround plan that includes closing 1,200 unprofitable stores. joined.
refuser
Shares of life sciences company Agilent Technologies (A) fell 3.8%, making it the biggest decliner among S&P 500 stocks on Wednesday. Barclays analysts raised their price target on Agilent’s stock to $145 from $135, but maintain an “underweight” rating on the stock. Analysts have previously noted that the testing diagnostics provider faces a difficult competitive environment and potential challenges related to the integration of recently acquired contract drug manufacturer BioVectra. The semiconductor equipment maker’s stock widened its losses after ASML (ASML) reported underwhelming earnings and guidance on Tuesday. KLA (KLAC) stock price fell 3.6%. Applied Materials (AMAT) stock falls 3.4% as investment research firm Hedgeye adds a new short idea to the stock, predicting wafer fabrication equipment (WFE) growth may fall below consensus expectations did.
-Michael Blomberg
Bitcoin soars to 3-month high
1 hour 17 minutes ago
Bitcoin (BTCUSD) continued to rise on Wednesday, hitting nearly $68,000 in recent trading, its highest since late July.
Legacy cryptocurrencies have outperformed the S&P 500’s returns since early September, benefiting from investor optimism over the Federal Reserve’s decision to start cutting interest rates and the US presidential election, among other things.
Since early September, Bitcoin is up more than 14%, while the S&P 500 is up about 3%.
Read the full article here.
– Mrinalini Krishna
ASML falls sharply again, leading Nasdaq decline rate
3 hours 44 minutes ago
ASML Holding (ASML) stock price plunged again on Wednesday, a day after the company’s early earnings release disappointed investors.
The Netherlands-based semiconductor equipment maker lowered its 2025 net sales forecast to 35 billion euros ($32.7 billion to $38.1 billion) from 30 billion euros. This is within the lower half of the company’s previous forecast range, below 36.1 billion euros. Analyst consensus forecasts compiled by Visible Alpha.
Third-quarter results were originally scheduled to be released on Wednesday, but were posted early on the company’s website due to a “technical error.”
TradingView
ASML stock fell 7% on Wednesday afternoon, leading the decline in the Nasdaq Composite Index, after plunging 16% on Tuesday following the initial results. The stock fell into negative territory for the year on Tuesday and is now down 10% since the beginning of the year.
-Andrew Kessel
Apple’s price level to watch as stock approaches all-time highs
4 hours 31 minutes ago
Apple (AAPL) stock fell about 1% in afternoon trading Wednesday after the stock briefly hit an all-time high yesterday. On the same day, the tech giant announced the latest version of iPad Mini, which is compatible with Apple Intelligence.
Apple stock has risen 20% since the start of the year, but has remained mostly flat over the past three months on concerns that delays in the expected rollout of Apple Intelligence will lead to weaker demand for the company’s flagship iPhone 16. It continues to be . It was released last month.
The stock broke above the upper trend line of the ascending triangle on Tuesday on its highest volume since September 20, suggesting investment by institutional investors.
Source: TradingView.com.
Investors should watch for key overhead levels on Apple’s chart near $237 and $270, as well as key support levels during retracements near $233, $225, and $218. . In recent trading, the stock was around $231.
Read the full technical analysis here.
-Timothy Smith
US Bancorp shares soar on expectations for highest profit
6 hours 15 minutes ago
U.S. Bancorp (USB) shares soared Wednesday as better-than-expected net interest income boosted profits.
The bank reported third-quarter earnings per share (EPS) of $1.03, beating the expectations of analysts surveyed by Visible Alpha by $0.04. Sales fell 2.4% year over year to $6.86 billion, slightly below expectations.
Net interest income (NII) was $4.17 billion, down 2.4% from 2023 but up 2.8% from the second quarter. That also exceeded my expectations. Net interest margin increased to 2.74% from 2.67% in the previous quarter, but was lower than 2.81% a year ago.
Like many of its competitors, US Bancorp increased its credit loss reserves to $557 million, an 8.2% increase from the year-ago period.
TradingView
US Bancorp stock rose nearly 5% on Wednesday, its highest since early last year. It will increase by about 14% in 2024.
-Bill McCall
United Airlines soars on strong earnings and stock buyback news
7 hours 48 minutes ago
United Airlines (UAL) shares soared after the airline announced its first $1.5 billion stock buyback plan since the pandemic and also reported quarterly results that beat analyst expectations.
JanValls / Urbanandsport / NurPhoto / Getty Images)
Late Tuesday, United Airlines reported third-quarter adjusted earnings per share (EPS) of $3.33, which beat its own guidance and the expectations of analysts surveyed by Visible Alpha. The company also expects fourth-quarter adjusted EPS of $2.50 to $3.00 per share, with the midpoint below Visible Alpha’s estimate of $2.92 per share.
The airline said the airline overcapacity that plagued the industry this year has been resolved.
“As expected, unproductive capacity exited the market in mid-August, and we saw a clear inflection point in revenue trends, with United’s third “The momentum has exceeded our expectations for the quarter.”
United Airlines’ $1.5 billion stock buyback will be its first stock buyback program since the airline suspended the program in 2020 during the COVID-19 pandemic.
Shares rose 9% in recent trading, hitting their highest since early 2020.
-Nisha Goreplan
Morgan Stanley stock soars after strong financial results
8 hours 1 minute ago
Morgan Stanley (MS) shares soared Wednesday morning after the company became the latest bank to beat expectations for the third quarter, posting year-over-year increases in sales and profits.
The bank reported revenue of $15.38 billion for the quarter, up from $13.27 billion a year earlier and more than $1 billion more than analysts expected, according to forecasts compiled by Visible Alpha. Morgan Stanley reported that net interest income (NII) increased from $1.98 billion to $2.2 billion. Only some of our rival banks have been able to do this so far this quarter. 1
Profits also far exceeded expectations at $3.2 billion, exceeding the $2.44 billion in net income Morgan Stanley announced last year.
Morgan Stanley shares rose more than 8% in morning trading, and are up about 30% so far this year, outpacing the S&P 500’s gain over that period.
TradingView
-Aaron McDade
NVIDIA levels to watch after Tuesday’s drop
9 hours 28 minutes ago
Nvidia (NVDA) stock rose in pre-market trading on Wednesday after plunging yesterday, just one day after hitting a closing high.
Tuesday’s decline came after Bloomberg reported that the Biden administration is considering restricting AI chip exports to some Middle Eastern countries. The news tempered optimism that demand for Nvidia’s chips is surging as tech giants scale up AI infrastructure amid tight supplies.
Nvidia stock broke out of a multi-month symmetrical triangle earlier this month, but that breakout occurred on below-average volume, indicating a lack of conviction behind the move.
Source: TradingView.com.
Investors should keep an eye on the major support levels on the NVIDIA chart near $125, $115, and $97, while also keeping an eye on the measured price target at $177. Shares rose 0.8% to $132.65 in recent pre-market trading.
Read the full technical analysis here.
-Timothy Smith
For futures, the opening prices of major indexes are expected to be slightly higher.
10 hours 13 minutes ago
Futures prices linked to the Dow Jones Industrial Average rose slightly.
TradingView
S&P 500 futures rose 0.1%.
TradingView
Nasdaq 100 futures rose 0.2%.
TradingView
