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Home » Stock Market Today: Live Updates
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Stock Market Today: Live Updates

i2wtcBy i2wtcMay 7, 2024No Comments6 Mins Read
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26 minutes ago

Stocks open in green

1 hour ago

Peloton stock rises nearly 20% on potential acquisition

Peloton Interactive’s stock rose 18% in premarket trading after CNBC reported that a number of private equity firms are considering acquiring the fitness company.

Peloton is considering going private and is in talks with at least one company, according to people familiar with the matter. Several other companies are also circling the company. Peloton declined to comment on CNBC’s report.

The pandemic darling, which has seen a surge in interest as Americans remain confined to their homes, recently announced a major restructuring plan that will reduce annual running costs by at least $200 million by the end of fiscal year 2025. So does the company’s CEO, Barry McCarthy. Going down.

The stock is down nearly 42% since the beginning of the year and nearly 98% from its January 2021 high.

— Gabrielle Fonrouge, Lillian Rizzo, Michelle Fox

2 hours ago

Stanley Druckenmiller cuts Nvidia stock, says AI may be overvalued in the short term

Billionaire investor Stanley Druckenmiller said on Tuesday he had ended a big bet on chip maker Nvidia earlier this year, saying the rapid artificial intelligence boom could become too much in the short term. .

“We cut that and a lot of other positions in late March. We just need a break. We’ve been working very hard. A lot of the things that we were aware of are now being recognized in the market. ” Druckenmiller said on CNBC’s “Squawk Box.”

Nvidia’s stock price fell more than 1% in premarket trading.

For more information, read the full article here.

— Yun Lee, Tanaya Machel

3 hours ago

Disney’s revenue is outperforming, and streaming is close to break-even point

Disney announced fiscal second-quarter profits that beat analyst expectations.

The company’s adjusted earnings per share were $1.21. Analysts polled by LSEG had expected earnings of $1.10 per share. Sales were in line with expectations at $22.08 billion. Disney’s streaming business also neared breakeven in the quarter.

“Our performance was driven not only by our streaming business, but also by our experiences segment,” Disney CEO Bob Iger said in a statement. “Importantly, Entertainment Streaming was profitable in the quarter, and we remain on track to achieve a combined profit in our streaming business in the fourth quarter.”

The stock fell slightly in premarket.

— Fred Imbert

9 hours ago

Reserve Bank of Australia keeps interest rate unchanged at 4.35% for fourth consecutive meeting

Australia’s central bank kept its benchmark lending rate unchanged at 4.35% for the fourth consecutive session, in line with forecasts in a Reuters poll of economists.

The central bank said in a statement that recent data showed that inflation was easing, but slower than previously expected, adding that inflation “remains at high levels”.

The RBA said it would take time for inflation to reach its 2% target and would not take any decisions on monetary policy.

— Lim Huijie

10 hours ago

Australian retail sales fall 0.4% in March quarter, fifth decline in six quarters

Retail sales in Australia fell by a seasonally adjusted 0.4% in the March quarter compared to the previous three months, government data showed.

The figure follows a 0.4% rise in the December quarter. On a year-on-year basis, retail sales volume in the March quarter fell by 1.3%.

“Retail sales fell for the fifth time in six quarters as consumers cut back on purchases of large household items such as furniture and appliances,” Australian Bureau of Statistics Director of Retail Statistics Ben Dover said. Ta.

“The only increase in volumes over the past 18 months was in the December quarter of last year, with deep discounts from the Black Friday sale driving volumes up,” Dover added.

— Shreyashi Sanyal

11 hours ago

Business activity in Japan increased at the fastest pace in eight months in April

Japan’s services sector activity expanded in April at the fastest pace since August, according to final figures from S&P Global.

The headline au Jibun Bank service industry activity index was 54.3 in April, compared to 54.1 in March, the highest level in eight months.

A number above 50 means expansion.

“An increase in business activity has been recorded every month since September 2022, with the recent expansion reflecting strong business spending and consumer spending,” S&P research said.

— Shreyashi Sanyal

13 hours ago

Japan’s Nippon Steel receives EU approval for $14.9 billion deal to acquire US Steel

The European Union late Monday approved a $14.9 billion deal for Japan’s Nippon Steel to acquire U.S. Steel.

Nippon Steel shares fell 0.26% in early Tokyo trading, while U.S. Steel shares rose 4.3% in after-hours trading in the United States on Monday.

“Given the limited market position of the companies that would result from the proposed transaction, the Commission concludes that the notified transaction does not give rise to competition concerns,” the European Commission said in a statement. Ta.

Nippon Steel announced in December that it would buy U.S. Steel after winning a bid that competed with rivals such as Cleveland-Cliffs and ArcelorMittal.

— Shreyashi Sanyal

15 hours ago

Carson Group’s Mr. Detrick says he wants people to stop selling in May and disappearing.

Ryan Detrick, chief market strategist at Carson Group, believes the market is currently overdue for an April stock correction, despite the common adage, “Sell in May and be gone.”

“Instead of blindly investing in seasonality, you tend to get a lot of leverage in the summer of election years,” Detrick said Monday on CNBC’s “Closing Bell.”

Detrick said he is overweight in cyclical stocks and added exposure to industrials and financials last month. The strategist added that mid-cap stocks and some small-cap stocks could also grow this year.

— Ha-Kyung Kim

15 hours ago

Stock prices move significantly after hours

Check out the companies making headlines for extended deals.

Palantir Technologies — Shares fell more than 8% after the company issued a weaker-than-expected outlook for full-year sales. LSEG said first-quarter adjusted earnings of 8 cents per share were in line with expectations. Meanwhile, quarterly revenue was $634 million, beating expectations of $625 million.

Lucid Group — The electric vehicle maker fell about 10% following its first-quarter results. According to LSEG, the company posted a loss of 30 cents per share, based on generally accepted accounting principles, even though sales were slightly higher. Lucid also reaffirmed its production forecast for 2024 at approximately 9,000 units.

Hims & Hers Health — The telehealth consultation platform soared 11.1% post-market after its second-quarter revenue outlook beat analysts’ expectations. According to LSEG, Hims & Hers expects sales to be in the range of $292 million to $297 million, compared to analysts’ expectations of $288 million. First quarter results also exceeded street expectations.

A complete list can be found here.

— Ha-Kyung Kim

15 hours ago

Stock futures were slightly lower on Monday.

U.S. stock futures were little changed on Monday night.

Dow Jones Industrial Average futures fell 8 points, or just 0.02%. S&P 500 futures and Nasdaq 100 futures also fell less than 0.1% each.

— Ha-Kyung Kim



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