Jul 09, 2024 06:08 pm EDT
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Incyte Inc. (INCY) shares rose 4.4% on Tuesday after the pharmaceutical company began issuing limited hold devices (RSUs) and hold options to unvaccinated employees. Those worker awards can be a sure indicator of Insight’s skills at attracting and retaining talent.
stock of Corning (GLW) rose 3.8% on Tuesday, adding to the positive factors recorded in the previous session after the specialty glass maker raised its earnings and profit outlook. The company highlighted strong demand for its ocular connectivity products, which have proven useful in powering networks running generative artificial data (AI) programs. The forged two-day efficiency gives Corning new leverage to take advantage of key expectations for AI-driven expansion.
Tesla (TSLA) shares rose 3.7%, marking the electrical car (EV) maker’s 10th consecutive successful holding. The positive factors were quickly reflected in the device as Tesla met its second-quarter car delivery estimates. The nearest catalysts may come with Tesla’s revenue record, which is set to be released with the final bell on July 23, as well as the August 8 match when the company is expected to install its long-awaited robotaxi.
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stock of Albemarle (ALB), the region’s largest lithium producer, fell 8.8%, then Baird lowered its price target to Hold. Lithium prices remain below expectations, which could impact Albemarle’s second-quarter results, according to analysts. Analysts also pointed to uncertainties surrounding the US presidential election, which is likely to result in year-long trends in the EV market like tax credits and optional insurance policies, a major driver of demand for lithium batteries.
stock of Lamb Weston Holdings (LW), which makes frozen French fries and alternative potato products, fell 4.5% amid reports of a class-action lawsuit filed against the company. The complaint alleges that Lamb Weston misled buyers by downplaying problems such as the implementation of an untested project resource planning (ERP) system earlier this year.
,Michael Bromberg
July 09, 2024 05:55 PM EDT
Shares of Tesla (TSLA) gained for a 10th straight session on Tuesday, even as unbiased analysis showed that the carmaker’s percentage of electric car sales in the US fell below 50% for the first time in the second quarter.
Kelley Blue’s second-quarter EV sales records showed that Tesla’s US sales declined 6.3%, even as overall EV sales hit a record high.
“Large events continue to put upward pressure on prices, helping slow EV adoption,” said Stephanie Valdez Streete, director of Cox Car Trade Insights.
According to Kelley Blue Retain, companies like General Motors (GM), Ford (F), Hyundai and Kia contributed quarterly US EV sales of 330,463, an increase of 11.3% year-over-year.
The rally in Tesla shares finally reached top gear after the company reported better-than-expected second-quarter delivery numbers, data that helped push the holding back into fixed territory for the year. The rally could also be supported by the possibility of an update about Tesla’s robotaxi, expected in early August.
Tesla gained 3.7% on Tuesday to $262.33, making it the best performer in the Nasdaq Composite and one of the best stocks in the S&P 500. The hold has gained 44% during its 10-session breakout.
-Naomi Buchanan
July 09, 2024 04:42 pm EDT
Chipotle Mexican Grill (CMG) stock dropped 3.4% Tuesday on cheers from the fast-casual chain’s waning contemporary 50-for-1 hold break.
Chipotle shares needed to break out of a six-week period of consolidation to hit an untouched record top in mid-June, though that momentum has declined sharply since then to verify the bullish attractiveness, a chart Developments that “trap” investors who initiated long positions receive breakout signals and therefore generate losses on cost reversal.
In another sign of weakening upside momentum, the hold climbed to an untouched top the last time technical rerouting appeared on the charts, although the Relative Energy Index (RSI) made a relatively low top.
Certainly, the restaurant chain’s stock closed below key support at $61.50 on Monday in above-average volume, raising the possibility of further downside in the coming weeks.
Read more about the key ratio price levels to pay attention to here.
,timothy smith
July 09, 2024 03:10 PM EDT
Shares of Albemarle (ALB), the world’s largest lithium producer, fell after Baird cut its price target to Hold, pointing to lower lithium prices.
The stock was about 8% weaker as of Tuesday afternoon, trading at its lowest level since November 2020. Albemarle was the biggest decliner in the S&P 500.
Baird cut its price outlook to Hold from $170 to $127 while maintaining an Overweight score.
Baird analyst Ben Cullow said lithium prices remain at or below the “low end” of $15 a kilogram so far this year. Kallow said Baird believes “a weak Q2 will be set up” for Albemarle. The company is set to report second-quarter results on July 31.
Kallo also raised concerns about the impact of this year’s US elections on the electric car (EV) market, which directly affects demand for lithium batteries.
,challan mccall
July 09, 2024 01:12 pm EDT
Nvidia (NVDA) shares soared once again on Tuesday after KeyBanc analysts raised their price to Hold, citing better-than-expected demand for Nvidia’s post-Blackwell platform to power synthetic data (AI). Increased the target.
Shares of Nvidia rose nearly 2%, extending gains for some time now and following a UBS and Wolff analysis bullish on the AI chipmaker’s prospects.
KeyBanc analysts raised their price target for the chip maker from $130 to $180, representing an increase of more than 40% from the last hold price on Monday. The analysts maintained their “overweight” score for Hold.
,naomi buchanan
July 09, 2024 12:06 pm EDT
BP (BP) shares fell sharply on Tuesday after Power Apar said it expected lower refining margins and loss rates of up to $2 billion to impact its second-quarter results.
The British oil and gas company said Tuesday it expects “significantly lower realized refining margins” to have a negative impact of between $500 million and $700 million when it reports second-quarter revenue by the end of the period.
BP, which expects to eliminate a loss rate between $1 billion and $2 billion similar to that observed at one of its German refineries, is not alone in the industry’s ultimatum about a potential hit to second-quarter results.
Exxon Mobil (XOM) said Monday its second-quarter revenue will fall by $1.1 billion to $1.5 billion due to lower refining margins. The company also expects a decline of about $300 million to $700 million this time when it reports next earnings due to lower herbal gas prices.
BP American Depositary Receipts (ADRs) declined by about 4.5% around noon.
,Aaron McDade
July 09, 2024 10:28 am EDT
Helen of Troy (HELE) shares crashed Tuesday after the shopper merchandise maker reported weak quarterly earnings and reduced its steering as demand for the good looks and wellness product declined.
The company behind brands including Revlon, Vicks and OXO attributed the decline in earnings primarily to decreased sales of hair accessories, prestige hair aid products and humidifiers, as well as lower replenishment orders from retail consumers. The impact of technical problems at its Tennessee distribution center.
CEO Noel Geoffroy said Helen of Troy “had to contend with an unusual number of internal and external challenges in the quarter.” Geoffroy warned that most of the challenging circumstances “become more evident by the end of the first quarter and some continue to adapt.”
Shares of Helen of Troy have been down an unhealthy 30%, buying and selling at their lowest level in nearly a decade.
,challan mccall
Jul 09, 2024 10:00am EDT
Intel (INTC), which has been on a winning streak for four sessions, also remained on its toes on Tuesday. The hold has grown on optimism that the chip maker is benefiting from growing interest in artificial data (AI) personal computer systems and alternative hardware developments similar to the generation.
Despite the 50-day moving average (MA) moving below the 200-day MA to take an ominous mortal blow in early May, Intel shares traded inside a narrow zone with several volume spikes following that momentum. Have done.
On Monday, the chip maker’s holdings broke above the management trendline of the buy and sell zone on surrender at the right ratio since June 21, indicating bullish conviction behind the breakout. Additionally, the Relative Energy Index (RSI) has moved above the 70 range into overbought territory, confirming strong price momentum.
Amid the continued upward journey, buyers should observe 4 key categories where shares may face overhead resistance.
The primary sits around $35.50, a section on the chart that adds cost similar to the minor countertrend retracement during Hold’s smart downtrading trip in April. If the hold breaks through this phase, it will travel to retest key horizontal series like $39 that hyperlinks the main September 2023 swing prime with the 200-day MA.
Above this pocket, shares could be seen climbing to around $42, where they may face dealers like the trendline connecting the four price troughs between December 2023 and March this year. Finally, a long-term rally could see the cost rise again to $45.50 like a horizontal chain that connects multiple price peaks over the five-month period from November to April.
,Tim Smith
July 09, 2024 08:27 am EDT
Futures contracts tied to Dow Jones Business Regional rose 0.1%
S&P 500 futures were up 0.2%
Nasdaq 100 futures were up 0.3%.
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