Fresh News From The Stock Market

The stock market crept higher into Nvidia earnings. Snowflake, CrowdStrike and Urban Outfitters also were active late.
Employee activism has put some tech workers at odds with their bosses and tested internal policies at Microsoft and Google.
US stock futures mostly fell as Nvidia (NVDA) stock tumbled following an earnings beat that was overshadowed by data sales revenue that missed expectations.
Seven protesters entered Microsoft’s president’s office Tuesday, prompting police removal.
The Retail sector’s Q2 performance compares favorably to what we have seen from these S&P 500 companies in other recent periods, particularly on the revenues side. What else should investors know?
NetApp forecast second-quarter revenue marginally ahead of estimates on Wednesday, as enterprises soften spending on cloud-based storage services in an uncertain economy, sending its shares down nearly 6% in extended trading. NetApp, which also reported quarterly revenue slightly above estimates, helps businesses improve efficiency of their data storage infrastructure and counts companies including Amazon.com’s Amazon Web Services, Google Cloud and Microsoft’s Azure as clients. Higher interest rates and sticky inflation have forced clients to rein in tech spending, weighing on demand for companies such as NetApp, which provide cloud-based memory storage products.
STORY: U.S. stocks ended higher on Wednesday, with the Dow adding about a third of a percent, the S&P 500 gaining roughly a quarter of a percent to close at a record high, and the Nasdaq ticking up about two-tenths of a percent.Investors were laser-focused on earnings from Nvidia after the market close, which forecast third-quarter revenue above Wall Street estimates helped by robust demand for its artificial intelligence chips from cloud providers.Shares of the chip maker, however, fell in extended trading.Rob Haworth, senior investment strategy director at U.S. Bank Asset Management Group, said that despite periodic pullbacks among AI-related stocks, they remain the market’s main drivers.”Artificial intelligence is a really important investment theme for this market, and it’s almost a secular one in that we’ve seen so much investment. And that investment continues, and it’s broadening out, right? It’s no longer just the people creating the software or creating the generative AI engines. It’s into data centers, power utility companies, right? How and into how they are used. So this is a trend that looks like it’s here to continue.”Shares of tech and other AI heavyweights were mixed Wednesday, with Microsoft gaining nearly 1% and Meta Platforms dipping almost 1%.Among other movers, MongoDB soared 38% after the software-maker raised its annual profit forecast.And shares of J.M. Smucker fell nearly four-and-a-half percent after the Jif peanut butter maker missed first-quarter profit estimates.
NVIDIA easily beat estimates on both top and bottom lines — estimates that were already quite extraordinarily high.
ChargePoint Holdings, Inc. (CHPT) closed at $11.46 in the latest trading session, marking a -1.04% move from the prior day.
Is today’s sell-off a sign that Opendoor’s meme-stock rally is running out of steam?
The latest trading day saw Tilray Brands, Inc. (TLRY) settling at $1.37, representing a -5.52% change from its previous close.
Prologis (PLD) closed the most recent trading day at $112.68, moving +1.19% from the previous trading session.
In the most recent trading session, Schlumberger (SLB) closed at $35.98, indicating a +1.87% shift from the previous trading day.
Interactive Brokers Group, Inc. (IBKR) concluded the recent trading session at $61.84, signifying a -2.31% move from its prior day’s close.
Macy’s (M) closed the most recent trading day at $13.6, moving +1.8% from the previous trading session.
In the latest trading session, Zscaler (ZS) closed at $273.07, marking a +2.01% move from the previous day.
UnitedHealth Group (UNH) closed the most recent trading day at $303.96, moving +1.17% from the previous trading session.
Partnership aims to convert listeners into paid subscribers
Snowflake reported second-quarter adjusted earnings of 35 cents a share from revenue of $1.14 billion. Analysts surveyed by FactSet were expecting earnings of 27 cents a share on revenue of $1.09 billion. Snowflake also said it expects third-quarter product revenue to be between $1.124 billon and $1.13 billion, compared with the consensus call for $1.121 billion.
The company reported a fiscal third-quarter adjusted profit of 75 cents a share on revenue of $13.9 billion.

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