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☆ Stocks making the biggest moves premarket: Hasbro, Adobe, GoodRx, SBA Communications and more
▼ + stars: | 2023-07-31 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Chevron — Shares rose 1.6% after Goldman Sachs upgraded Chevron to buy from neutral and hiked its price target. Hasbro — The toymaker added 2.9efore the bell after Bank of America upgraded the stock to buy from neutral. United Parcel Service — Shares fell 1% after Credit Suisse downgraded UPS to neutral from outperform, citing labor concerns. Cowen also raised its price target to reflect about 78% potential upside. SBA Communications — Shares fell 1.6% in premarket trading.

Persons: Morgan Stanley, Goldman Sachs, Jefferies, Walt Disney, Bob Iger, Kevin Mayer, Tom Staggs, XPeng, GoodRX, Cowen, It's, —, Alex Harring, Hakyung Kim, Tanaya Macheel, Samantha Subin Organizations: Chevron, Ford, Disney, Financial, UBS, Hasbro, Bank of America, United Parcel Service, Credit Suisse, CVS, SBA Communications, Semiconductor, FactSet Locations: U.S

☆ ON Semiconductor stock pops after second-quarter earnings. Here's what the pros are saying
▼ + stars: | 2023-07-31 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts addressing ON Semiconductor . Just after the opening bell, the chipmaker's stock hit a record high, going back to its IPO in May, 2000 following second-quarter results that beat expectations. ON Semi reported $1.33 in earnings per share and $2.09 billion in revenue , against analysts' estimates compiled by FactSet of $1.21 and $2.02 billion, respectively. ON's President and CEO, Hassane El-Khoury, joined CNBC Monday morning to discuss the company's report and outlook. The stock closed the trading day up 2.5%.

Persons: Hassane El, Khoury Organizations: CNBC

☆ Stocks making the biggest moves midday: SoFi, ON Semiconductor, Disney, Sweetgreen and more
▼ + stars: | 2023-07-31 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

SoFi Technologies – Shares of the fintech company popped more than 18% after it reported second-quarter results and lifted its full-year guidance. ON Semiconductor — The chipmaker's shares jumped 3.2% after it posted an earnings and revenue beat for the second quarter. New Relic — Shares jumped 13.4% after a private equity consortium announced it would take the software company private. Sweetgreen — The salad chain's shares jumped 11% Monday after an upgrade from Piper Sandler. Adobe — The software stock jumped 3.9% after Morgan Stanley upgraded the shares to overweight from equal weight.

Persons: FactSet, Disney, Kevin Mayer, Tom Staggs, Bob Iger, Spero, Sweetgreen, Piper Sandler, XPeng, Cowen, Morgan Stanley, Morgan Stanley's, Goldman Sachs, Wayfair, Salesforce's, — CNBC's Hakyung Kim, Yun Li, Sarah Min, Tanaya Macheel, Samantha Subin Organizations: SoFi Technologies, Disney, Financial Times, Food and Drug Administration, UBS, Hasbro, of, Bank of America, CVS, Adobe, Chevron, New York Community Bancorp, Deutsche Bank, CSX, RBC Locations: Bob Iger .

For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s, data showed on Friday. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. On the earnings front, Intel's (INTC.O) results and forecast pointed to an improving PC market, sending the chipmaker's shares up. The yield on the U.S. 10-year note slipped from 4% hit in the previous session, lifting megacap growth and technology stocks sharply higher. Reata Pharmaceuticals (RETA.O) surged after Biogen (BIIB.O) agreed to buy the rare disease drugmaker for nearly $6.5 billion.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Horizon Investments, Federal Reserve, Nasdaq, Dow Jones, Barclays, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, Thomson Locations: China, U.S, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s. Most of the 11 major S&P 500 sectors posted gains, led by communications services (.SPLRCL), which gained 2.01% as big tech companies kept an upward trend after announcing earnings earlier this week. More than half of the firms listed on the S&P 500 have reported second quarter earnings as of Friday, out of which 78.7% have surpassed analyst expectations, according to Refinitiv data. Advancing issues outnumbered declining ones on the NYSE by a 2.31-to-1 ratio; on Nasdaq, a 2.62-to-1 ratio favored advancers. The S&P 500 posted 26 new 52-week highs and two new lows; the Nasdaq Composite recorded 73 new highs and 69 new lows.

Persons: Win Murray, Diamond Hill, Peers, Dow, Jim Farley, Bansari Mayur Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Big Tech, Dow Jones, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, Bengaluru

☆ Here's why this AI chipmaker continues to outflank the competition
▼ + stars: | 2023-07-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

"But when we go to an AI server, Intel's contribution drops to low-single digit percent, and that's where Nvidia's contribution gets to almost 60%, 70% of the price of the server." Still, it's possible AMD also saw softer demand for its data-center CPUs in the last quarter due to ramped-up AI spending. Like Intel, AMD is also working to bring its own AI-focused chips to market . Yes, Nvidia stock has had a monster run, more than tripling year-to-date, but the fundamental reason for that outperformance — its AI dominance — is completely intact. It remains an "own it, don't trade" stock, alongside Apple (AAPL).

Persons: Pat Gelsinger, —, Vivek Arya, Arya, Intel's, Lisa Su's, Gelsinger, AMD's, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Intel, Nvidia, Club, — Club, Microsoft, CNBC, Bank of America, Devices, AMD, Apple, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Los Angeles , California, U.S

☆ Intel results boost chip stocks on optimism PC market slump is ending
▼ + stars: | 2023-07-28 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

Intel is poised to add about $10 billion to its market value, based on its current price of $37. Intel's results lifted Advanced Micro Devices (AMD.O) and Nvidia (NVDA.O) by 3.2% and 2.3%, respectively, while Qualcomm (QCOM.O) advanced 2.6%. Although a titan of the American chip industry, Intel has fallen behind rivals such as Taiwan's TSMC and Nvidia both in terms of margins and market value as the PC market downturn and stiff competition in the data center market battered its business. Earnings reports from other chipmakers including Samsung (005930.KS) have also shown that the glut in the smartphone and PC markets is ending, but the outlook for demand from customers outside the AI industry remains gloomy. Intel has a 12-month forward price-to-earnings ratio of 31.10, compared with Nvidia's 43.26 and an industry median of 19.95.

Persons: Glenn O'Donnell, Forrester, Pat Gelsinger, Aditya Soni, Chavi Mehta, Savio D'Souza, Shounak Organizations: Intel, Devices, Nvidia, Qualcomm, Samsung, Rosenblatt Securities, Thomson Locations: KS, Bengaluru

☆ Nvidia wins again — plus two more takeaways from this week's mega-cap earnings
▼ + stars: | 2023-07-26 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It was also one of several conclusions we made combing through the results and listening to the conference calls with investors. We are basically looking for results or management commentary that speaks to peer companies or the industry as a whole. On the call, management said it was "to support cloud demand, including investments in AI infrastructure." What is increased AI spending going to do for Meta's engagement and Reels monetization efforts? Nvidia chief Jensen Huang (centre L) poses for photographs before attending a press conference at Computex 2023 in Taipei on May 30, 2023.

Persons: it's, Sundar Pichai, We're, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Sam Yeh Organizations: Microsoft, Nvidia, Google, AMD, Intel, Jim Cramer's Charitable, CNBC, Afp, Getty Locations: Taipei

3M posted $7.99 billion in revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. Elsewhere, RTX reported second-quarter earnings that topped Wall Street expectations, posting $1.29 in adjusted earnings per share on $18.32 billion in revenue. The home appliance company posted revenue of $4.79 billion, lower than the consensus estimate of $4.82 billion, according to Refinitiv. It did beat on earnings expectations, reporting adjusted earnings of $4.21 per share, higher than the $3.76 estimate. The company notched adjusted earnings per share of $3.29, while analysts estimated $2.70 per share.

Persons: Refinitiv, RTX, it's, Biogen, Morgan Stanley, FactSet, General Motors, Invesco, Andrew Schlossberg, BTIG, Sherwin, Williams, Yun Li, Samantha Subin, Sarah Min, Tanaya Macheel, Brian Evans, Alex Harring Organizations: Spotify, Alaska Air, Pratt & Whitney, Airbus, General, GE, Whirlpool, Revenue, LG Electronics, LG Energy, GM, Refinitiv, UPS, Teamsters, Xerox –, Xerox, Packaging Corp, America, Secure

☆ Here's a rapid-fire update on all 35 stocks in our portfolio — including 2 rating changes
▼ + stars: | 2023-07-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Coterra Energy (CTRA): At roughly 10 times forward earnings, Jim said he'd classify Coterra shares as dirt cheap. Estee Lauder (EL): We're downgrading Estee Lauder to a 2 rating Wednesday, meaning we're no longer recommending investors buy the stock at current levels. But we're sticking with Estee Lauder because eventually we expect China's economy to turn around, and with it EL's stock price. The semiconductor firm, which has seen its stock price nearly triple this year, is reportedly considering taking a long-term stake in chip designer Arm Holdings.

Persons: Jim Cramer's, Jim, he's, We're, Walt Disney, Bob Iger, we're, Estee Lauder, Emerson, Locker, Mary Dillon's, Locker's financials, Eli Lilly, Vimal Kapur, Johnson, Morgan Stanley, Morgan Stanley's, he'd, Palo, Laxman Narasimhan, Bud, Stanley Black, Decker, TJX's, Wells Fargo, We've, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Investors, Bausch Health, KKR, Costco Wholesale, Costco, Coterra Energy, ESPN, The, Disney, Emerson, National Instruments, Rockwell Automation, Ford, United Auto Workers, GE Healthcare, Halliburton, HAL, Honeywell International, Honeywell, Johnson, Linde, LIN, Novo Nordisk, Meta, Microsoft, Activision Blizzard, Nvidia, Arm Holdings, Palo Alto Networks, Palo Alto, Natural Resources, Procter & Gamble, Constellation Brands, TJX, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: India, Israel, California, U.S, Corona, Wells, Las Vegas , Boston, Macao

☆ Goldman Sachs raises Nvidia price target, says chipmaker is entering a new growth phase
▼ + stars: | 2023-07-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

NVDA YTD mountain Nvidia shares in 2023 The new price target suggests shares could gain another 16.5% from Friday's close on top of nearly tripling this year. Key to Goldman Sachs' target increase is the stronger compute power and greater numbers of graphics processing units needed to train growing large language models. From training alone, the analyst forecasts a $13 billion base case three-year revenue opportunity and a $316 billion bull case scenario. Social media could yield one of the strongest revenue opportunities, with a base case scenario calling for $1.9 billion in revenue. Along with its target increase on Nvidia, Goldman Sachs upped its price objective on overseas shares of Taiwan Semiconductor Manufacturing .

Persons: Goldman Sachs, Toshiya Hari, Hari, Bruce Lu, — CNBC's Michael Bloom Organizations: Nvidia, company's Data, Wall, Social, Taiwan Semiconductor Manufacturing Locations: Friday's

☆ Factbox: Companies respond to China's curbs on gallium and germanium exports
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

Following are responses from some companies to the announcement of curbs from Aug. 1 on Chinese gallium and germanium exports. The German automaker said gallium and germanium played a role in future autonomous driving functions. * Taiwan's TSMC (2330.TW), the world's largest contract chipmaker, said it did not expect any direct impact on its production but would continue monitoring the situation. * Microchip Technology (MCHP.O) said its initial assessment is that there will not be a material impact. * Stellantis (STLAM.MI) Chief Executive Carlos Tavares said the restrictions on gallium and germanium exports should not push Western companies to "decouple" from China.

Persons: chipmaker, Carlos Tavares, Tavares, Catherine Evans, Josephine Mason Organizations: Volkswagen, Nasdaq, Intel, Infineon, European Union, Navitas Semiconductor Corp, Thomson Locations: China, United States

☆ South Korea wants to be a top A.I. hub — its chip dominance could be an advantage
▼ + stars: | 2023-07-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Jung Yeon-je | Afp | Getty ImagesSouth Korea's dominance in the memory chip market and a robust artificial intelligence ecosystem gives it an advantage in the global AI chip race, said industry observers. South Korea dominating in the memory market is definitely an advantage," said James Lim, senior research analyst at Dalton Investments. "South Korea seeks to emerge as a prominent player in rapidly growing and promising areas such as AI semiconductors," said Lee. "South Korea has a robust local AI ecosystem, capable of competing with global tech giants," said Sung Nako, executive for large scale AI development at South Korean internet giant Naver. ChatGPT maker OpenAI's CEO Sam Altman had urged South Korea to lead AI chip production during his meeting with South Korean President Yoon Suk-yeol in June.

Persons: Jung Yeon, James Lim, Lee, Dylan Patel, SemiAnalysis, ., TrendForce, Sung Nako, Sam Altman, Yoon Suk, Altman, Dalton's Lim, Geoffrey Cain Organizations: Getty, Dalton Investments, CNBC, Samsung, SK Hynix South, Samsung Electronics, SK Hynix, Science, Micron, South, South Korean, Nvidia, Intel Locations: Seoul, Korea, South Korea, China, U.S

The S & P 500 rose 8.3% in the second quarter to extended its 2023 advance to 15.9%. Here's a closer look at the Club's best and worst performers in the first half of 2023, starting with the four winningest stocks. West Texas Intermediate crude ended the second quarter under $71 per barrel, about $10 below where it started the year. Humana (HUM) dropped 12.7% in the first half of 2023, rounding out the bottom-four Club stocks between January and June. The common denominator among the worst-performing Club stocks is a bit less obvious than with the winners.

Persons: It's, Dow, Here's, Mark Zuckerberg, Palo, Lisa Su, —, Eli Lilly, Locker, Foot Locker's, Estee Lauder, Estee, Halliburton haven't, encouragingly, Halliburton, Jim Cramer's, Jim Cramer, Jim, Jen, Hsun Huang, Huang, Andrej Sokolow Organizations: Nasdaq, Dow Jones, Nvidia, FactSet, Meta, Investors, Facebook, Networks, Palo Alto Networks, Alto, AMD, Devices, Palo, would've, The, HAL, Halliburton, West Texas, Coterra, Humana, Disney, DIS, CNBC, Consumer, Audi, Getty Locations: China, Meta, Palo, Palo Alto, Las Vegas, USA

☆ Chipmaker Intel restructures manufacturing business
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Intel Corp (INTC.O) said on Wednesday its manufacturing business will work like a separate unit and will begin to generate a margin, but gave no clear timeline on when it will start scaling up, sending the chipmaker's shares down about 5%. The company also did not name a new external customer for the business as part of its foundry services, a key element of Intel's turnaround plans wherein it will offer its manufacturing services to other companies including its competitors. Intel's internal business units will now have a customer-supplier relationship with the manufacturing business, Chief Financial Officer David Zinsner said on an investor call. Based on that model, Intel will be the second largest foundry next year with manufacturing revenue of more than $20 billion, he said. "The presentation essentially tells investors that its current manufacturing is sub-scale and could remain sub-scale for a while," Chan added.

Persons: David Zinsner, Kinngai Chan, Chan, Chavi Mehta, Maju Samuel Organizations: Intel Corp, Intel, Taiwan Semiconductor Manufacturing, Thomson Locations: Bengaluru

☆ Housing market inventory keeps declining and that's bad news for homebuyers
▼ + stars: | 2023-06-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

We're revisiting housing inventory today because it's one of the key sticking points that's keeping home prices elevated and buyers wary. Get this: The housing market today has 39% fewer homes for sale than before the pandemic. Mortgage rates are currently about double what they were in 2021, when ultra-low rates fueled a home-buying boom. That could help influence mortgage rates to go even higher this year. People who are sitting on the sidelines, waiting for mortgage rates to decline, should know that's unlikely to happen in the foreseeable future."

Persons: I'm Phil Rosen, Jerome Powell, Joe Raedle, There's, Powell, Redfin's Chen Zhao, Edward Seiler, Tweet, JIM WATSON, Morgan Stanley, Steve Eisman, Larry Summers, Richard Branson's, Phil Rosen, Max Adams, Hallam Bullock Organizations: realtors, Mortgage Bankers Association, US, Getty, Fed, FedEx, Nvidia, Bloomberg, Treasury, Virgin Galactic Locations: homebuilding, New York, London

☆ Micron warns of bigger revenue hit from China ban
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

The company said it now expects an impact on about half of its revenue from China-headquartered firms, which equates to a low-double-digit percentage of its total revenue. It had neither provided details on what risks it had found nor what Micron products would be affected. It also added that several customers, including mobile manufacturers, were being contacted by Chinese government representatives about the future use of Micron products. Micron's revenue from companies headquartered in mainland China and Hong Kong, including direct sales as well as indirect sales through distributors, accounts for about a quarter of its total revenue. ($1 = 7.1218 Chinese yuan renminbi)Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sanjay Mehrotra, Chavi Mehta, Shailesh Organizations: Micron Technology, Micron, Cybersecurity Administration, Thomson Locations: China, U.S, Beijing, Washington, Hong Kong, Xian, Bengaluru

☆ Nvidia is the top AI pick and the stock could jump 15% as demand has picked up since the chip maker's blockbuster earnings report, Morgan Stanley says
▼ + stars: | 2023-06-16 | by ( Jason Ma | ) www.businessinsider.com time to read: +3 min

Morgan Stanley raised its price target on Nvidia to $500 and called the stock its "top pick." Analysts said demand has picked up since the chip maker's blockbuster earnings report last month. Morgan Stanley also named Nvidia its new "top pick," taking that moniker away from the previous holder, rival chip stock AMD. Morgan Stanley said there has been a rapid shift in investment away from the traditional server infrastructure and toward AI infrastructure, calling Nvidia the "cleanest story in AI hardware." While the numbers may not be sustainable in the long term, Morgan Stanley still sees "higher capital intensity" through the next several years.

Persons: Morgan Stanley, —, OpenAI's ChatGPT, Bard chatbots, there's Organizations: Nvidia, Analysts, Service, NVIDIA

☆ Stanley Druckenmiller says Nvidia stock is worth holding for the next few years amid AI bullishness
▼ + stars: | 2023-06-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Nvidia is worth holding for two to three years, Stanley Druckenmiller said in a Bloomberg conference. His bullishness comes as other investors have called Nvidia overvalued. His bullishness comes as other investors have called Nvidia overvalued after it briefly soared to a market cap of $1 trillion last month. During the Bloomberg interview, Druckenmiller also noted that even if a hard landing for the economy affects some AI development, he expects Nvidia to thrive in the long run. In the first quarter, his family office snapped up $220 million worth of the chipmaker's stock.

Persons: Stanley Druckenmiller, Druckenmiller, —, he'd, Bard, they're, Cathie Wood, Asmath Damodaran, Goldman Sachs Organizations: Nvidia, Bloomberg, Microsoft, Service, Privacy, Bloomberg Invest, Duquesne Family, Bank of America, ARK

☆ Wall St Week Ahead: Surging US megacap stocks leave some wondering when to cash out
▼ + stars: | 2023-06-02 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The benchmark S&P 500 (.SPX) has risen 11.5% this year and stands at a 10-month high. The S&P 500 rose 1.45%. The recent surge in Nvidia showed how a stock can keep climbing even after posting hefty gains. At the same time, only 20.3% of S&P 500 stocks have outperformed the index on a rolling three-month basis, a record low dating back five decades, according to Ned Davis. Kotok views narrowing breadth as an ominous sign for the broader stock market, saying that equities also look less favorable in certain asset valuation metrics.

Persons: Ned Davis, Peter Tuz, Jay Hatfield, ” Hatfield, “, Brendan McDermid Michael Purves, Purves, Kevin Mahn, Refinitiv, ”, Mahn, Dow, David Kotok, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski, Diane Craft Organizations: YORK, BofA Global Research, Ned Davis Research, Chase Investment, Nvidia, Apple, Microsoft, Google, Federal Reserve, New York Stock Exchange, REUTERS, Tallbacken Capital Advisors, Nasdaq, Hennion, Walsh Asset Management, Dow Jones, Cumberland Advisors, Thomson Locations: megacap, BofA, New York City, U.S

☆ Wall St Week Ahead Surging US megacap stocks leave some wondering when to cash out
▼ + stars: | 2023-06-02 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The benchmark S&P 500 (.SPX) has risen 11% this year and stands at a 10-month high. He is overweight megacaps, including Nvidia, Microsoft and Google-parent Alphabet (GOOGL.O). The recent surge in Nvidia showed how a stock can keep climbing even after posting hefty gains. At the same time, only 20.3% of S&P 500 stocks have outperformed the index on a rolling three-month basis, a record low dating back five decades, according to Ned Davis. In one commonly used valuation metric, the S&P 500 is trading at 18.5 times forward earnings estimates compared to its historic average of 15.6 times, according to Refinitiv Datastream.

Persons: Ned Davis, Peter Tuz, Jay Hatfield, ” Hatfield, “, Michael Purves, Purves, Kevin Mahn, Refinitiv, ”, Mahn, Dow, David Kotok, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski Organizations: YORK, BofA Global Research, Ned Davis Research, Chase Investment, Nvidia, Apple, Microsoft, Google, Tallbacken Capital Advisors, Nasdaq, Hennion, Walsh Asset Management, Dow Jones, Cumberland Advisors, Thomson Locations: megacap, BofA

Focus now shifts to the Labor Department's closely watched unemployment report for May, due on Friday. The data will help determine whether the Fed sticks with its aggressive rate hikes. "The market became confident that, 'wow the Fed rate hike for June is pretty much not happening' and confidence is falling for raising rates for July," he said. C3.ai Inc (AI.N) slumped after the artificial intelligence company forecast an annual revenue outlook below analysts' estimates. Dollar General Corp (DG.N) plunged as retail companies cut their full-year sales forecasts as high inflation dimmed the U.S. consumer outlook.

Persons: Goldman Sachs, Edward Moya, I'm, Jimmy Chang, Chang, Jason Pride, We've, Herbert Lash, Shreyashi Sanyal, Shristi, Shounak Dasgupta, Maju Samuel, Deepa Babington Organizations: Labor, Dow Jones, Nasdaq, ADP, Labor Department, Unit, Futures, Reuters Graphics Reuters, Senate, Rockefeller Global, Nvidia Corp, Glenmede, Dow, Salesforce Inc, Goldman Sachs Group Inc, Meta, Inc, General Corp, Thomson Locations: New York, Philadelphia, Bengaluru

☆ Intel shares jump as chipmaker sees second-quarter revenue at upper end of outlook
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

May 31 (Reuters) - Shares of Intel Corp (INTC.O) rose about 5% after the chipmaker's finance chief said on Wednesday that the company is on track to hit the upper end of its second-quarter revenue forecast. Semiconductor stocks have rallied over the past week after gaming and AI chip company Nvidia Corp (NVDA.O) forecast quarterly revenue that stunned Wall Street, with the firm betting on the rapid adoption of AI tools. "We're going to track at $12 billion to $12.5 billion as we close out the second quarter," Intel CFO David Zinsner said at the TD Cowen conference. The company's previous outlook in April was of revenue between $11.5 billion and $12.5 billion. Intel will be able to ride the AI wave as its foundry services could provide wafers to customers that have products for the AI market, Zinsner said.

Persons: David Zinsner, Cowen, Zinsner, Akash Sriram, Shounak Dasgupta Organizations: Intel Corp, Semiconductor, Nvidia Corp, Intel, Thomson Locations: Bengaluru

☆ 5 trillion-dollar companies — including Nvidia, Apple, and Amazon — have been behind most of the S&P 500's 10% gains this year
▼ + stars: | 2023-05-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Collectively, the five companies have raised their market cap by about $2.9 trillion in 2023 — contributing 96% of the almost $3 trillion gains in the S&P 500's market value this year, Fortune reported on Wednesday. Read further to know the five bigwigs' market capitalization — or marcap — gains this year, in descending order:1. Apple: $718 billion in marcap gainsThe world's largest company by market cap, Apple shares ended 2022 at $129.93 apiece. On Tuesday, the chipmaker's market cap briefly hit the coveted $1 trillion mark for the first time. This takes Amazon's market cap to $1.25 trillion — up from $857 billion at the end of 2022.

Persons: Fortune, Insider's Zahra Tayeb, Mohamed El, Read, Tim Cook, Cook, CNBC's Steve Kovach, Bing, Jensen Huang, Huang, Sundar Pichai, Pichai, Andy Jassy Organizations: Apple, Microsoft, Nvidia, Nasdaq, Allianz, Big Tech, CNBC, Wall, OpenAI, Bloomberg, Amazon Locations: California, Nvidia's

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