On this episode of stock movers: Microsoft (MSFT) and Amazon (AMZN) fall 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 as "increasingly misplaced" Home Depot (HD) sinks after the company cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases. Honeywell (HON) drops 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.
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Tim Stenovec and Carol Massar. On this episode of Stock Movers: - Medtronic (MDT) gained 4.6%, the biggest gainer in the S&P today. The rise came after the medical device maker lifted the bottom end of its range for adjusted profit forecast for the year. The company also boosted its organic revenue outlook following better-than-expected results in the second quarter. - Merck (MRK) shares rose to their highest level since March after the drugmaker said a mid-stage trial of its drug for a rare form of high blood pressure met its main goal. Analysts see the trial win as a potential for an expanded market for the drug, Winrevair. - Nvidia closed 2.8% lower. Tech weakness is persisting ahead of Nvidia's earnings report. The company, along with Microsoft, is committing to invest up to a combined $15 billion in Anthropic in a move that ties the AI developer closer to two of the biggest backers for its rival OpenAI. See omnystudio.com/listener for privacy information.
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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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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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