13 minutes ago
Advanced Micro Devices stock price rises following chip event
Shares of Advanced Micro Devices rose more than 2% before the bell, a day after the chipmaker unveiled a new artificial intelligence chip that challenges Nvidia's dominance at an investor event.
Both Meta Platforms and Microsoft have already announced plans to use the company's chip, known as Instinct MI300X. The product will directly challenge Nvidia's AI graphics processing unit known as H100.
CEO Lisa Su predicted that the AI accelerator market will grow 70% annually over the next four years, reaching more than $400 billion.
— Samantha Subin
42 minutes ago
Dollar General rises on strong earnings and guidance
Dollar General rose nearly 3% before the bell Thursday as investors analyzed a better-than-expected financial report and latest outlook update.
The low-cost retailer beat consensus estimates from analysts surveyed by FactSet in both areas in the third quarter. Dollar General also reaffirmed its guidance for full-year earnings, revenue growth and sales comparisons, with ranges for each measure broadly in line with Wall Street expectations.
Despite pre-market bidding, it's been a tough year for stocks. Since the start of 2023, the stock price has fallen more than 45%.
— Alex Harring
1 hour ago
Chewy stock falls after disappointing third quarter results
Pet care site Chewy fell 10% as the company came under pressure after lower-than-expected third-quarter results.
Chewy suffered a loss of 8 cents per share on revenue of $2.74 billion. Analysts surveyed by LSEG had expected a loss of 6 cents per share on revenue of $2.75 billion. The company's fourth-quarter earnings outlook was also disappointing.
— Fred Imbert
9 hours ago
China's exports exceed expectations in November, trade surplus expands
China's exports increased by 0.5% November's year-on-year comparison was a reversal from October's 6.4% decline, and exceeded the Reuters poll's forecast (1.1% decline).
But imports to the world's second-largest economy fell 0.6% year-on-year, surprising expectations for a 3.3% increase.
China's trade balance expanded to $68.39 billion in November, higher than October's $56.53 billion and above expectations of $58 billion.
— Lim Huijie
12 hours ago
Australia's trade surplus expands in October, but weaker than expected
Australian trade balance in October The figure rose to A$7.13 billion from A$6.79 billion ($4.45 billion) in the previous month, but fell short of the A$7.5 billion forecast in a Reuters survey of economists.
The country's statistics agency revealed that exports rose 0.4% month-on-month, or A$182 million, driven by metal ores and minerals.
Meanwhile, imports decreased by 1.9%, or A$763 million, compared to the previous month, mainly due to lower imports of industrial transport equipment.
— Lim Huijie
13 hours ago
Markets could get the “best of both worlds” in 2024
Barclays says that while the current bull market may be overdone, the market could still deliver the best of both worlds in 2024: slower inflation and higher earnings.
“FOMO is rapidly driving up stocks, and while they may face a reality check at some point, the path of least resistance to the upside remains,” analyst Emmanuel Cau said in a note Wednesday. We believe.”
Mr Kau said he believed the central bank could succeed in curbing inflation without hurting growth too much next year. “This means that even if earnings remain strong, some rate cuts are likely in 2024, which sets the stage for further stock price appreciation,” he said.
— Lisa Kailai Han, Michael Bloom
13 hours ago
These are the stocks making the biggest moves after the closing bell
Here are some of the stocks with the best price movements in long-term trading.
- ChargePoint Holdings — Electric vehicle infrastructure company as the company missed third-quarter revenue expectations, posting $110 million in revenue compared to analyst estimates of $122 million, according to LSEG. 's stock price fell 1%.
- Verint Systems — Shares of the customer engagement company soared nearly 10% after third-quarter earnings and revenue beats. Verint reported adjusted earnings of 65 cents per share, compared with analyst estimates compiled by FactSet of 57 cents per share. Sales were $218.5 million, exceeding analysts' expectations of $215.9 million. The company also reaffirmed its full-year 2024 outlook.
- Chewy — Shares of Chewy fell 9.3% in after-hours trading Wednesday after the online pet products retailer issued a weak outlook for fourth-quarter net sales. Analysts had expected net sales of $2.78 billion to $2.8 billion, while the company expected net sales of $2.93 billion, according to LSEG. Chewy also reported higher-than-expected losses and lower-than-expected revenue.
Read the complete list of transferred stocks here.
— Peer Singh
14 hours ago