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☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Dollar General, Amazon, Meta, SolarEdge & more
▼ + stars: | 2023-10-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

HSBC initiates American Express as buy HSBC said it sees healthy earnings growth for American Express . Mizuho reiterates Meta as buy Mizuho said it's standing by its buy rating heading into earnings later this month. Bernstein reiterates Tesla as underperform Bernstein concluded in an analysis of Tesla that the company is more of an automaker than a tech company. Barclays upgrades Varonis Systems to overweight from equal weight Barclays said it sees numerous positive catalysts ahead for the software company. Northland upgrades SolarEdge to outperform from market perform Northland said investors should buy the dip in shares of SolarEdge .

Persons: Cowen, NVDA, Mizuho, Stephens, Bernstein, Tesla, underperform Bernstein, Warren Buffett, Hershey, Morgan Stanley downgrades JD.com, Morgan Stanley, Gordon Haskett, Todd Vasos, Jeff Owen, Read, Wolfe, today's, Baird, Needham, Oppenheimer, Wells, LULU, Meghan Frank, Howard Tubin Organizations: HSBC, American, American Express, Bank of America, Nvidia, Meta, Barclays, Varonis, Hershey, JPMorgan, Post Holdings, Netflix, Citi, Oshkosh, Lam Research, Materials, Supply, VP Locations: 4Q22, Northland, SolarEdge, Israel, California

☆ Needham's double play in the semis
▼ + stars: | 2023-10-13 | by ( Scott Wapner | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNeedham's double play in the semisThe "Halftime Report" Investment Committee debates Needham's buy call on Lam Research and Applied Materials.

Organizations: Lam Research, Materials

☆ Stock market bulls are hopeful that earnings will be a welcome distraction
▼ + stars: | 2023-10-02 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

After September lived up to its reputation as the worst month of the year, bulls are hopeful earnings will prove a welcome distraction for a stock market mired in weak seasonal trends and rising interest rates. "Net net, the earnings estimates for these early reporters are going up, and that is a positive sign for earnings season," Earnings Scout founder and CEO Nick Raich from told me. Valuations are coming down but are still high The forward multiple for the S & P 500 (Q4 2023, and Q1-Q3 for 2024) is 17.9. For example, industrials have seen a significant decline in earnings estimates due to very large estimate declines for Boeing. Bulls hopeful earnings will prove a welcome distraction The expectations for rising earnings has many hopeful that it will help get stocks out of their recent rut due to rising interest rates.

Persons: Nick Raich, John Butters, Nicholas Colas, Raich Organizations: JPMorgan, FedEx, Oracle, Darden, Costco, Pepsi, General Motors, Ford, Netflix, NVIDIA, Apple, Intel, Boeing, Southwest Airlines, American Airlines, United Parcel Service Locations: AutoZone, Horton

☆ Uber names semiconductor executive Mahendra-Rajah as CFO
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

The logo of Uber is seen in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsSept 27 (Reuters) - Uber Technologies (UBER.N) on Wednesday named Analog Devices (ADI.O) CFO Prashanth Mahendra-Rajah as its finance chief at a time when the ride-hailing company is gearing up for growing competition in the industry. At semiconductor firm Analog Devices, Mahendra-Rajah oversaw the roughly $21-billion acquisition of rival Maxim Integrated Products. Mahendra-Rajah was previously the CFO at vehicle technologies supplier WABCO Holdings and has held other financial leadership roles at Applied Materials (AMAT.O), Visa (V.N) and United Technologies. Still, with more than $1 billion in free cash flow in the second quarter, Uber said it was increasingly considering share repurchases and shareholder dividends.

Persons: Arnd, Prashanth Mahendra, Rajah, Mahendra, Nelson Chai, Uber, Deborah Sophia, Shounak Dasgupta Organizations: REUTERS, Technologies, Devices, Maxim Integrated Products, WABCO Holdings, Materials, Visa, United Technologies, Los Angeles Yellow Cab, Thomson Locations: Davos, Switzerland, San Francisco, Nelson, Europe, Asia, Bengaluru

☆ Morgan Stanley says these 6 global stocks will benefit from a 'monumental shift' in the chip industry
▼ + stars: | 2023-09-22 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

A "monumental shift" is underway in the semiconductor industry — and a raft of stocks are set to benefit, according to analysts at Morgan Stanley . "The transition to 3D 'gate-all-around' architecture marks a monumental shift for leading-edge logic chip architectures," the analysts said. Though industry players expect that initial gains will be "relatively subdued," Morgan Stanley is optimistic that the shift will create a "roadmap into the next decade." Stock picks Here are some of the stocks Morgan Stanley expects will benefit: Lam Research is one of the stocks the bank rated overweight. Morgan Stanley analysts agreed with the company's statement that "gate-all-around is good for the industry, [so] good for ASML."

Persons: Morgan Stanley, TSMC, it's, — CNBC's Michael Bloom Organizations: ramping, Materials, ASM, ASML, Intel, Samsung, GAA Locations: U.S, Swiss

At Kokusai's indicative price of 1,890 yen per share, the company will offer 111.2 billion yen ($749.88 million) worth of shares and have a market value of 435.5 billion yen. A successful listing would follow the blockbuster New York IPO of SoftBank-owned chip designer Arm , which investors hoped would lead to a wave of stock market launches. IPO activity has remained strong in Japan, where the stock market is at 33-year highs and interest rates ultra low. Kokusai reported operating profit fell by a fifth to 56 billion yen in the year ended March compared to the same period a year earlier. Sales were roughly flat at 245.7 billion yen.

Persons: Miho Uranaka, Kokusai, chipmaker TSMC, TW, Sam Nussey, Makiko Yamazaki, Christopher Cushing Organizations: REUTERS, KKR, Materials, Kokusai, Tokyo Stock Exchange, Industry, Reuters, Marelli Holdings, Thomson Locations: Tokyo, Japan, TOKYO, China, York

☆ Nvidia, other US chip stocks stall over valuation, industry worries
▼ + stars: | 2023-09-21 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

The nVIDIA booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. Chip stocks soared to start the year, with the Philadelphia SE Semiconductor index (.SOX) rising over 50% through July. With "some of the names that really have catapulted to the top, now you are starting to question valuations,” Mahn said. Of course, many chip stocks are sitting on substantial gains for the year and this month may only be a temporary setback. “I do believe there are opportunities in semiconductor stocks going forward," Mahn said.

Persons: Mike Blake, “, Lip, LSEG Datastream, Kevin Mahn, ” Mahn, Taiwan's, chipmaker, Mahn, Lewis Krauskopf, Ira Iosebashvili, Andrea Ricci Organizations: nVIDIA, REUTERS, Nvidia, Philadelphia, Semiconductor, Wealth Management, Hennion, Walsh Asset Management, Reuters, Federal Reserve, Lam Research, Applied, KLA Corp, Arm Holdings, Devices, Broadcom, Thomson Locations: Los Angeles , California, U.S, United States, China, Washington

REUTERS/Brendan McDermid Acquire Licensing RightsReuters Graphics Reuters GraphicsThe S&P 500 dropped 1.22% to end at 4,450.32 points. All 11 S&P 500 sector indexes declined, led lower by information technology (.SPLRCT), down 1.95%, followed by a 1.88% loss in consumer discretionary (.SPLRCD). For the week, the S&P 500 fell 0.16% and the Nasdaq lost 0.39%. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 4.4-to-one ratio. The S&P 500 posted seven new highs and eight new lows; the Nasdaq recorded 48 new highs and 216 new lows.

Persons: chipmakers, Lam, Stoking, Lisa Erickson, Brendan McDermid, Amgen, Japan's, Ankika Biswas, Shristi, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: Nasdaq, Dow, Lam Research, KLA Corp, Reuters, Nvidia, Devices, Broadcom, Micron Technology, Philadelphia Semiconductor, United Auto Workers ', General Motors, Ford, Chrysler, Federal Reserve, U.S, Bank Wealth Management, Traders, Microsoft, Adobe, New York Stock Exchange, REUTERS, Reuters Graphics Reuters, Dow Jones, SoftBank's Arm Holdings, Neumora Therapeutics, Thomson Locations: U.S, Minneapolis, New York City, Bengaluru, Oakland , California

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. SoftBank's Arm Holdings gained 6.5% after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering (IPO) market. U.S.-listed shares of Alibaba Group Holdings , JD.com , PDD Holdings (PDD.O) and Xpeng rose between 0.1% and 1.6%. ET, Dow e-minis were up 85 points, or 0.24%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were down 4.5 points, or 0.03%. Reporting by Ankika Biswas and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lam, Taiwan's TSMC, Stellantis, rekindling, Russ Mould, AJ Bell, Ankika Biswas, Shristi, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Ford, Motors, UAW, Dow, Nasdaq, Lam Research, KLA Corp, Reuters, Ford Motor, General Motors, United Auto Workers, Chrysler, SoftBank's Arm Holdings, Nvidia, there's, Therapeutics, Reuters Graphics Reuters, Traders, Federal Reserve, University of, Alibaba Group Holdings, PDD Holdings, Dow e, Thomson Locations: New York City, U.S, Bengaluru

☆ Here are Friday's biggest analyst calls: Apple, GM, Amazon, Zoom, Arm, Rivian, Ford, Deere & more
▼ + stars: | 2023-09-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

HSBC initiates Zoom as buy HSBC said Zoom is the leader in video conferencing. HSBC initiates Deere as buy HSBC said in its initiation of Deere that it sees "upside in the cycle." HSBC initiates Salesforce as buy HSBC said in its initiation of the stock that it's a "margin expansion story." HSBC initiates Snowflake as buy HSBC said Snowflake is well positioned for AI. HSBC initiates Oracle a buy HSBC said in its initiation of Oracle it likes the company's cloud platform.

Persons: Morgan Stanley, Rivian, it's, TD Cowen, Needham, Piper Sandler, Piper, KEY's, Lauder, Redburn, Wolfe, Goldman Sachs, Goldman, Casella, Zoom, Snowflake, Northcoast, Apple, Salesforce, Ford Organizations: Bank of America, underperform Bank of America, HSBC, Anheuser, Busch InBev, UBS, WWE, UFC, Systems, Moffett, Deere, Oracle, of America, Amazon, Apple, Lenovo, Adobe, General Motors, Ford, GM, UAW Locations: Americas, 2H23, North America, U.S, China

☆ Stocks making the biggest moves midday: General Motors, Stellantis, Planet Fitness, Adobe and more
▼ + stars: | 2023-09-15 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nucor — The steelmaker fell 6.1% after offering worse-than-expected guidance for third-quarter earnings, with the company pointing to pricing and volume challenges. Core & Main — The infrastructure stock retreated 4.1% a day after it announced a secondary stock offering. The bank said Apellis has a favorable risk/reward ahead of third-quarter earnings. The Wall Street firm said the resumption of loan repayments introduce bookings risk to food delivery. The Wall Street firm said its pessimistic outlook was changing despite recent underperformance in the reinsurance space.

Persons: Stellantis, Chris Rondeau, Rondeau, Craig Benson, Nucor, Raymond James, Needham, Charles Shi, Lam, Goldman Sachs, Apellis, MoffettNathanson, Estée Lauder, Goldman, Yun Li, Jesse Pound, Samantha Subin, Pia Singh, Brian Evans, Lisa Kailai Han Organizations: UAW, General Motors Wentzville, General Motors, Ford, United Auto Workers began, Workers, CNBC, LSEG, PTC Therapeutics, Medicines Agency's, Medicinal Products, Arm, Investment, Bloomberg News, Apple, Dexcom, ASML Holding, Lam Research, Taiwan Semiconductor, Adobe, Bank of America, JPMorgan, Apellis Pharmaceuticals, Waste Systems Locations: Wentzville , Missouri, New Hampshire, Wells, underperform

☆ What China’s new smartphone means for Wall Street
▼ + stars: | 2023-09-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Huawei’s feat could mean that Chinese technology has been progressing much faster than previously thought. Before the Bell spoke to Zino about what’s happening and what it means for Wall Street. Huawei’s new smartphone uses an internally developed, very powerful chip that’s manufactured by the Semiconductor Manufacturing International Corporation (SMIC), a partially state-owned Chinese semiconductor foundry. In the long term, this is probably a good thing for the leading semiconductor companies like Nvidia (NVDA) and Qualcomm (QCOM). Furniture companies are in a rutPeople aren’t buying furniture like they used to, reports my colleague Samantha Delouya.

Persons: there’s, Mike Gallagher, Michael McCaul, Angelo Zino, Bell, There’s, they’ve, They’ve, it’s, Anna Cooban, Samantha Delouya, Hooker, “, ” Williams, Laura Alber Organizations: CNN Business, Bell, New York CNN —, Huawei, House, Skyworks, Materials, Semiconductor Manufacturing International Corporation, Nvidia, Qualcomm, Intel, Federal Reserve, West Elm Locations: New York, China, Taiwan, Korea, United States, Asia, Saudi Arabia, Europe, Virginia, Wayfair, Williams, Sonoma

☆ These 10 stocks have the most exposure to China's 'stalling' economy, BofA warns
▼ + stars: | 2023-09-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

China's "stalling" economy is putting some US companies at risk, according to Bank of America. The bank highlighted the top 10 stocks that have the most revenue exposure to China. Applied MaterialsApplied Materials’ new corporate signage photo in Santa Clara California ReutersTicker: AMATMarket value: $122.6 billionRevenue exposure to China: 33%9. Wynn ResortsAdvertisementAdvertisementFILE PHOTO: Wynn Resorts Ltd property in Las Vegas ReutersTicker: WYNNMarket value: $10.7 billionRevenue exposure to China: 40%4. ReutersTicker: LVSMarket value: $38.2 billionRevenue exposure to China: 67%Other companies that have considerable revenue exposure to China include: Intel (27%), Tesla (26%), and Nvidia (26%).

Persons: Savita Subramanian, Santa Clara California, Lam, Shanghai Aly Song Organizations: Bank of America, Service, Santa Clara California Reuters, Broadcom Reuters, IPG Photonics, Wynn, Wynn Resorts Ltd, Las Vegas Reuters, WYNN, Qualcomm, China, Vegas Sands Corp, Reuters, Intel, Nvidia Locations: China, Wall, Silicon, Santa Clara, Las Vegas, Shanghai, Macau

☆ Buybacks could boost equity demand in coming weeks and these stocks could see a pop, Goldman says
▼ + stars: | 2023-08-23 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

A flurry of buyback activity should give the equity market a boost in the coming weeks, and some stocks stand to benefit more than others, according to Goldman Sachs. August has seen strong repurchase volume from large-cap companies with executions standing at about 40% above the average 2023 level, Goldman said. Goldman's buyback basket of 50 sector-neutral companies with above-average repurchase activity has historically performed particularly well following the second-quarter earnings season, Goldman said. The stocks in Goldman's basket included Tapestry , Lockheed Martin, HP , Dollar General , Applied Materials and Bath & Body Works . Still, higher interest rates could cause a slowdown in buybacks this year as many companies tend to issue debt to repurchase stocks.

Persons: Goldman Sachs, Goldman, David Kostin, Lockheed Martin Organizations: HP, Dollar, Applied Materials, Body

☆ Lightning Round: Buying Rocket Lab is like sending money up in smoke, says Jim Cramer
▼ + stars: | 2023-08-21 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Buying Rocket Lab is like sending money up in smoke, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Applied Materials, Telus International, Tutor Perini, Google, NIO, Rivian, Medical Properties and Huntington Bancshares.

Persons: Jim Cramer, Perini Organizations: Materials, Telus International, Google, Huntington

☆ Cramer's Lightning Round: Alphabet is a buy
▼ + stars: | 2023-08-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Applied Materials' year-to-date stock performance. Stock Chart Icon Stock chart icon Telus International's year-to-date stock performance. Stock Chart Icon Stock chart icon Tutor Perini's year-to-date stock performance. Stock Chart Icon Stock chart icon Nio's year-to-date stock performance. Stock Chart Icon Stock chart icon Huntington Bancshares' year-to-date stock performance.

Persons: They're, Perini, They've, I'm, I'd, Huntington Bancshares, Huntington Organizations: Telus

[1/2] The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. Among major movers of the day, Applied Materials (AMAT.O) rose 2.5% after the chip equipment maker forecast fourth-quarter profit above analysts' estimates and posted better-than-expected third-quarter earnings. Estee Lauder (EL.N) lost 2.9% after the cosmetics maker forecast its annual net sales and profit below Street estimates. Deere & Co(DE.N) added 0.4% after the construction equipment maker raised its annual profit outlook. With no major economic data due on Friday, focus will now shift to Federal Reserve Chair Jerome Powell's speech at the Jackson Hole economic symposium next week.

Persons: Jason Reed, Estee Lauder, Russ Mould, AJ Bell, EL.N, Jerome Powell's, Amruta Khandekar, Maju Samuel Organizations: U.S . Federal, REUTERS, Dow, Nasdaq, Federal Reserve, Traders, Alibaba, Materials, Deere, Co, Federal, Nvidia, Dow e, Keysight Technologies, Thomson Locations: Washington, U.S

☆ Wall St slides as megacap growth stocks drag on rate jitters
▼ + stars: | 2023-08-18 | by ( Amruta Khandekar | ) www.reuters.com time to read: +4 min

The yield on the 10-year Treasury note hit a ten-month high of 4.328% in the previous session and came within a whisker of its highest level since 2007. The communication services (.SPLRCL) and technology (.SPLRCT) sectors housing major growth stocks fell 1.6% and 1.0% respectively. With no major economic data due on Friday, focus will now shift to Federal Reserve Chair Jerome Powell's speech at the Jackson Hole economic symposium next week as well as earnings from chip designer Nvidia (NVDA.O). Declining issues outnumbered advancers for a 1.08-to-1 ratio on the NYSE and for a 1.00-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week highs and 17 new lows, while the Nasdaq recorded 10 new highs and 146 new lows.

Persons: Jason Reed, Estee Lauder, Hogan, EL.N, Jerome Powell's, advancers, Amruta Khandekar, Maju Samuel Organizations: U.S . Federal, REUTERS, Dow, Nasdaq, Riley, Apple, Microsoft, Nvidia, Alibaba, Federal, Dow Jones, Inc, NYSE, Thomson Locations: Washington, U.S, Maui

☆ Stocks making the biggest moves premarket: Estee Lauder, Bloomin' Brands, Palo Alto Networks and more
▼ + stars: | 2023-08-18 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Palo Alto Networks — Shares of the cybersecurity company edged 1.8% lower in premarket trading Friday. Palo Alto Networks' fiscal fourth-quarter earnings are expected to come out Friday afternoon. Analysts surveyed by FactSet's StreetAccount called for $1.96 billion in revenue and earnings per share of $1.29. The company reported adjusted earning per share of 7 cents, while analysts surveyed by Refinitiv had forecast a loss of 4 cents per share. The electronic design company said it anticipates adjusted earnings of $1.83 to $1.89 per share on revenue of $1.29 billion to $1.31 billion.

Persons: FactSet's StreetAccount, Alibaba, PDD, Nio, Estee Lauder —, Estee Lauder, Refinitiv, Keysight, Jeffrey Smith's, — CNBC's Michelle Fox Theobald, Jesse Pound Organizations: Palo Alto, Palo Alto Networks, Ross, Ross Stores, Refinitiv . Revenue, Technologies, Street Journal

☆ Here are Friday's biggest analyst calls: CVS, Hawaiian Electric, Peloton, Aflac and more
▼ + stars: | 2023-08-18 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Here are Friday's biggest calls on Wall Street: Edward Jones downgrades CVS to hold from buy Edward Jones expressed concern over the company losing part of its Blue Shield of California pharmacy benefit manager contract. TD Cowen initiates Dynatrace at outperform TD Cowen said checks were strong and there's reasons to be excited about the tech company. TD Cowen initiates Datadog at outperform TD Cowen said the software company has strong management and ways to differentiate itself from competitors. Bank of America reiterates Peloton as buy Bank of America kept its bullish rating ahead of the fitness stock's earnings report. Morgan Stanley downgrades Aflac to equal weight from overweight Morgan Stanley said the insurance stock's strong earnings and capital have been hampered by challenges within sales and persistence.

Persons: Edward Jones, TD Cowen, Cowen, Wells, Wells Fargo, Morgan Stanley downgrades Aflac, Morgan Stanley, Riley, there's Organizations: CVS, JPMorgan, Bank of America, Barclays downgrades Keysight Technologies, Barclays, Citi, Materials, Riley Securities, Marvell Technology, MRVL Locations: California

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) on Thursday forecast its fourth-quarter profit would be substantially higher than analyst estimates, as chip demand picks up and governments spend billions on subsidies. Applied reported third-quarter revenue of $6.43 billion, beating analysts' average estimate of $6.16 billion, according to Refinitiv data. Applied finance chief Brice Hill said that despite overall lower chip equipment spending this year, the company's services business would continue to grow. For its company's semiconductor systems unit, which supplies gear to chip makers, third-quarter revenue slipped roughly 1% to $4.68 billion. Samsung Electronics (005930.KS), Taiwan Semiconductor Manufacturing Co (2330.TW), and Intel Corp (INTC.O) use the company's advanced chip production tools.

Persons: Dado Ruvic, Gary Dickerson, Brice Hill, Jaspreet Singh, Max A, Shinjini Ganguli, David Gregorio, Jamie Freed Organizations: REUTERS, Semiconductor, Applied, Lam Research, KLA, Samsung Electronics, Taiwan Semiconductor Manufacturing, Intel Corp, Thomson Locations: Santa Clara , California, China, Bengaluru, Max, San Francisco

☆ Applied Materials forecasts upbeat fourth quarter
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Applied Materials logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) forecast fourth-quarter results above market estimates on Thursday on strong demand from chipmakers setting up new manufacturing plants, sending its shares up 3% after the bell. Governments across the globe have in the past year doled out billions of dollars in subsidies to boost domestic chip manufacturing, which benefited companies such as Applied Materials and KLA (KLAC.O) whose tools are essential in chip making. Santa Clara, California-based Applied Materials expects revenue of $6.51 billion in the fourth quarter, plus or minus $400 million, compared with analysts' average estimate of $5.86 billion, according to Refinitiv data. It expects adjusted profit per share between $1.82 and $2.18, above market estimate of $1.61.

Persons: Dado Ruvic, Jaspreet Singh, Shinjini Organizations: REUTERS, Semiconductor, Applied, Materials, Thomson Locations: Santa Clara , California, Bengaluru

☆ Stocks making the biggest moves after hours: Applied Materials, Ross Stores and more
▼ + stars: | 2023-08-17 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Applied Materials — Applied Materials rose nearly 2% in extended trading after beating analysts' expectations on the top and bottom lines in its fiscal third-quarter results. The semiconductor equipment maker posted adjusted earnings of $1.90 per share, greater than the $1.74 per share expected by analysts polled by Refinitiv. Ross Stores — The retail stock popped 5.7% in extended trading after Ross Stores topped forecasts for its second quarter. Analysts polled by Refinitiv had expected 41 cents in earnings per share on revenue of $282 million. The online luxury retailer posted revenue of $572 million, lower than the consensus estimate of $649 million from Refinitiv.

Persons: Bill Holdings, Bill, Refinitiv, Keysight, FactSet, Farfetch Organizations: Applied, Refinitiv . Revenue, Ross Stores, Holdings Locations: Santa Clara , California, Refinitiv

☆ S&P 500 futures are little changed after major indexes post third straight losing day: Live updates
▼ + stars: | 2023-08-17 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

S&P 500 futures were little changed Thursday night after the major averages dropped for a third straight day. Dow Jones Industrial Average futures rose by 11 points, or 0.03%. S&P 500 futures and Nasdaq 100 futures dipped 0.02% and 0.12%, respectively. Meanwhile, the S&P 500 declined 0.77%, and the Nasdaq Composite slid 1.17%. Meanwhile, the S&P 500 is headed for a third straight week of losses, a streak that hasn't happened since February.

Persons: Group's Guy Adami, CNBC's, Dow Organizations: NYSE, Dow Jones Industrial, Nasdaq, Materials, Ross Stores, Dow, Treasury, Federal Reserve, Dow Transports, Russell, Palo Alto Networks

☆ Accelerating US economy sideswipes markets
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +4 min

A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. That compares with the official estimates of second-quarter GDP growth at an annualised 2.4% - itself a significant upside surprise - and Wall St forecasters are re-drawing forecasts again. Deutsche Bank on Wednesday, for example, more than doubled its third quarter real GDP call to 3.1%. The implications of such resilience in U.S. activity in the face of more than five percentage points of interest rate rises in 18 months has forced many to rethink the sustainable interest rate level over the horizon and increase long-term projections. After another heavy loss on Wall St indices (.SPX), (.IXIC) on Wednesday, futures regained some ground ahead of the bell today.

Persons: Brendan McDermid, Mike Dolan, Jackson, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Micron Technology, Atlanta Federal, Deutsche Bank, Walmart, Applied, Ross Stores, Philadelphia Fed, Treasury, Housing, Reuters Graphics Reuters, Reuters, Thomson Locations: New York, U.S, Asia, Europe

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