Peloton's shares fell sharply after the company gave a weak revenue forecast for the current quarter and revealed that costs for a product recall were significantly higher than anticipated, leading to a decline in subscribers and a decline in hardware sales amidst a shift in consumer spending towards travel and experiences.
PayPal's shares fell after being downgraded by MoffettNathanson ahead of the upcoming CEO transition, while DoorDash's shares rose after being upgraded by Mizuho Securities based on strong market share and consumer spending on food. Micron Technology also experienced a stock gain after Deutsche Bank upgraded the company, citing potential for beating first-quarter expectations, and Arm Holdings' shares declined as it works to establish its position in the market.
Micron Technology stock rises after Deutsche Bank analyst upgrades the stock due to improving demand ahead of earnings.
Despite being in a downturn, both Micron and Intel have the potential for a strong turnaround, with Micron currently demonstrating technology leadership and increasing momentum, making it a potential better buy than Intel.
Micron Technology predicts poor earnings but anticipates a turnaround in the near future.
Micron Technology's fiscal fourth-quarter profit and revenue exceeded expectations, but the company's outlook was mixed as pricing stabilizes, leading to a more than 5% decrease in MU stock.
Despite a drop in Micron Technology stock and a surprising margin outlook, analysts suggest that it is a good time to buy.
U.S. stock futures remain steady as Wall Street faces a slump in September; Micron shares fall after wider-than-expected loss forecast; Meta Platforms unveils new AI-powered products; Evergrande share trading suspended; Oil prices dip after surge in crude stock.
GameStop Corp. shares fell 6.9% and hit their lowest close since February 2021 after activist investor Ryan Cohen was named CEO, signaling his attempt to revitalize the company; however, GameStop is still facing significant challenges and its stock price has declined 17% this year.
Shares of Discover Financial Services rose after reaching an agreement with the FDIC to improve compliance practices and customer service protocols, while GameStop shares fell despite the announcement of a new CEO, and NextEra Energy and NextEra Energy Partners faced significant declines following a downgrade and a trim in growth goals.
The Nasdaq gains as tech stocks, including Amazon and Intel, report strong earnings; JPMorgan Chase shares fall after CEO Jamie Dimon plans to sell a portion of his holdings; stocks close out a tough week with the Dow down 262 points and the S&P 500 down 0.4%.
