Amazon Drops, Home Depot Falls, Cloudfare Sinks After Outage
On this episode of Stock Movers:- Amazon (AMZN) shares drop after Rothschild & Co Redburn's Alexander Haissl downgraded Microsoft Corp. and Amazon.com, Inc. to neutral from buy, citing the industry's "trust us" – Gen-AI is just like early cloud 1.0” narrative looks “increasingly misplaced,- Home Depot (HD) shares fall after the company cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases. The world’s largest home-improvement retailer said it expects adjusted earnings per share to decline 5% from a year ago, lower than its previous forecast.- Cloudflare (NET) shares fall after a worldwide outage at the network of cybersecurity firm Cloudflare Inc. appeared to be resolving after several hours of disruption on Tuesday.The outage had taken down the websites for everything from the chief US energy regulator, ChatGPT, the New Jersey transit authority and the social-media platform X. ChatGPT and X were among the services that were back online by 10 a.m. New York time.See omnystudio.com/listener for privacy information.
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2:54
Microsoft Drops, Home Depot Falls, Honeywell Sinks on Ratings Downgrade
On this episode of Stock Movers:- Microsoft (MSFT) shares drop after Rothschild & Co Redburn's Alexander Haissl downgraded Microsoft Corp. and Amazon.com, Inc. to neutral from buy, citing the industry's "trust us" – Gen-AI is just like early cloud 1.0” narrative looks “increasingly misplaced,- Home Depot (HD) shares fall after the company cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases. The world’s largest home-improvement retailer said it expects adjusted earnings per share to decline 5% from a year ago, lower than its previous forecast. - Honeywell (HON) shares sink after BofA Global Research cut the recommendation on the industrial giant to underperform from buy, becoming the lone sell-equivalent rating in Bloomberg data. BofA expects shares to lag as elements of its spinoff strategy disappoint investors and the company doesn’t deliver earnings growth next year.See omnystudio.com/listener for privacy information.
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Home Depot Cuts Guidance; Microsoft & Amazon Decline; Apple Bolstered by China Sales
On this episode of Stock Movers:- Shares of Home Depot (HD) fell ahead of the US market open after the company cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases. The world’s largest home-improvement retailer said it expects adjusted earnings per share to decline 5% from a year ago, lower than its previous forecast. The company said its profit and comparable sales came in lower than expected in the last quarter, citing the overall weakness in the housing market and a lack of storms that hampered demand in roofing, generators and other categories.- Shares of Microsoft (MSFT) and Amazon (AMZN) both moved lower in the early session after Rothschild & Co Redburn’s Alexander Haissl downgraded the stocks for the first time since initiating coverage in June 2022, according to data compiled by Bloomberg. Haissl’s downgrades follow a selloff in the tech-heavy Nasdaq 100, which has wiped out almost $1.8 trillion since a late-October peak to send the gauge down 5.1% in that time. Investors have retreated from AI-related stocks amid unease over stretched valuations.- Shares of Apple (AAPL) moved higher in premarket trading after the company's iPhone 17 series drove a 37% rise in its monthly smartphone sales in China, signaling strong momentum in a key market. iPhones accounted for one in every four smartphones sold in the country in October, the first time it’s hit that threshold since 2022, according to Counterpoint Research. The figures suggest Apple’s year-on-year upgrades are resonating with consumers and support Chief Executive Officer Tim Cook’s prediction that the company will return to growth in China this quarter.See omnystudio.com/listener for privacy information.
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Akzo Nobel Slides, Rheinmetall Gains, ICG Up
On this episode of Stock Movers:- Akzo Nobel has agreed to acquire smaller rival paint maker Axalta Coating Systems Ltd. in a cross-border share deal that values the target at €7.9 billion ($9.2 billion). The Dutch company’s stock fell as much as 4.4% in Amsterdam early Tuesday, the steepest intra-day drop since Oct. 22. - Rheinmetall sees sales of about €50 billion in 2030, according to a presentation for its capital markets day. Shares rose as much as 2.4%- Amundi will buy into the alternative investment firm ICG as it seeks to tap into the booming demand for unlisted assets. Shares rose us much as 11% this morning. Tiwa AdebayoSee omnystudio.com/listener for privacy information.
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Dell Falls, Expedia Drops, Alphabet Rallies
On this episode of Stock Movers:- Dell (DELL) shares fell in trading today after Morgan Stanley downgraded it. A memory “supercycle” increasingly poses a risk to earnings of hardware original equipment and design manufacturers (OEMs and ODMs), Morgan Stanley analysts wrote as they cut ratings on HP, Dell, Pegatron and Asustek to underweight.- Several online travel agencies, including Expedia (EXPE) declined today after Alphabet's Google announced the launch of an AI-powered feature that allows users to book flights and hotels. Expedia fell as much as 6.1%, the most intraday since May 9.- Alphabet (GOOG) rallied on the news that Warren Buffett’s Berkshire Hathaway Inc. acquired 17.9 million shares of it. Berkshire’s Alphabet stake, representing 0.31% of the outstanding shares, according to a regulatory filing Friday, was worth about $4.9 billion as of the market close.See omnystudio.com/listener for privacy information.
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