close
close

Gottagopestcontrol

Trusted News & Timely Insights

What is likely to move the market
New Jersey

What is likely to move the market

Traders work on the trading floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 28, 2024.

Brendan McDermid | Reuters

Stocks @ Night is a daily newsletter sent after the market closes, giving you a first look at tomorrow and a last look at today. Register for free to get it straight to your inbox.

Here’s what CNBC TV producers were watching as Nvidia’s decline weighed on the S&P 500 on Wednesday, and what’s on the radar for Thursday’s session.

Three big tech stocks to watch Thursday morning

  • NVIDIA fell about 7% in after-hours trading following the release of its quarterly report. Bob Pisani, CNBC TV’s man on the NYSE, said it early Wednesday morning when he said it was getting harder for Nvidia to impress Wall Street as expectations tightened. Earnings and revenue more than doubled from the same quarter last year, beating Wall Street estimates. Still, the stock is selling off in extended trading. Nvidia is about 11% below its June high.
  • Salesforce rose 4% after the market closed. The company beat expectations in the second quarter and raised its guidance. The seemingly ever-optimistic CEO Marc Benioff told CNBC’s Jim Cramer exclusively tonight, “Now we can really show how companies can use AI… it’s incredible what’s happening.” He named several customers using Salesforce’s new Agentforce technology, including OpenTable and Wyndham Hotels. The stock is still 19% below its March 1 high.
  • CrowdStrike fell more than 2% after announcing earnings this afternoon. Second-quarter results were better than expected, but the cybersecurity giant has lowered its forecast. There is still a lot of fear surrounding the stock after the massive IT outage in July. CEO George Kurtz is joining “Mad Money” man Jim Cramer on Thursday at 6 p.m. Eastern Time. The stock is 33% below its July high.
Stock chart symbolStock chart symbol

Hide content

Nvidia’s performance over the last three months

The Great American Bond Market and What’s Next

Intel CEO Pat Gelsinger speaks at Deutsche Bank’s tech conference

  • CNBC TV’s Seema Mody looks at it.
  • Intel Shares have fallen 4.5% in three days.
  • In August, Intel recorded a decline of 36 percent.
  • The share price is now 62% below its December 27 high.
Stock chart symbolStock chart symbol

Hide content

Intel’s performance in 2024

Walgreens

  • CNBC stock expert Tom Rotunno spent a lot of time with Walgreens on Wednesday.
  • The stock hit a new 52-week low, ending the day at $9.38, down 0.74% on the session.
  • The Relative Strength Index shows an RSI of 29 that the stock is “oversold.” A reading of 30 or less indicates that a stock may be oversold, but that doesn’t mean losses are guaranteed to reverse.
  • The stock hasn’t been this low since October 1996. That was a long time ago. Back then, “Macarena” was the top song on the Billboard Hot 100.
  • The resignation of CEO Roz Brewer is approaching.
  • The stock will fall by about 64% in 2024.
  • According to FactSet, four out of 20 analysts recommend buying the stock or overweight it, 12 recommend holding it, and four recommend selling it or underweight it.
  • Competitors CV has fallen 27% this year. Twelve analysts recommend the stock as a buy or overweight, and 15 recommend holding. There are no sell recommendations for the stock. CVS is 31% below its 52-week high.

The great American consumer

  • Numerous quarterly retail reports must be submitted on Thursday.
  • American Eagle has fallen 9% over the past three months. The stock is trading 18% below its March high.
  • Best buy has risen 21% in three months. The stock is 6.3% below its June high.
  • Burlington Businesses has risen 36% in the past three months. Shares are 2.6% below Tuesday’s high
  • Dollar-General has fallen 13% over the past three months. The stock is 26% below its March high.
  • gap has risen 10% in three months. The stock is 27% below its June high.
  • Lululemon has fallen 12% in three months. It has fallen 50% since its peak in late December.
  • Ulta Beauty has fallen 3.75% in three months, 36% since its March peak.
Stock chart symbolStock chart symbol

Hide content

Dollar General’s performance over the past three months

Gold vs Bitcoin

  • The “fast money” traders spoke out on Wednesday evening. Guy Adami was the first to say that “gold has decoupled from Bitcoin.”
  • Many have been claiming for some time that the two assets have similar characteristics and benefits for investors and holders.
  • Gold has increased by 7% in one month.
  • Bitcoin has fallen by 13% in one month.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *