Analysis-'Overdue' pullback in US stocks to test dip-buyers' resolve
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- Nasdaq, S&P end lower as tech stocks fall
- Micron posts record profit as AI memory demand fuels explosive growth
- Brent settles at lowest since before start of Iran war as more tankers exit Hormuz
- All eyes on Micron earnings tonight as sell-off raises stakes for AI memory trade
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Needham Starts NeoVolta (NEOV) at Buy
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- NextEra to discuss paying about $76 per share for Dominion, Bloomberg News reports
- Campbell Soup (CPB) Declares $0.39 Quarterly Dividend; 7.7% Yield
- UBS Reiterates Buy Rating on Snowflake Inc. (SNOW)
Geopolitical shocks should be bought, not sold - BofA
April 22, 2024 10:14 AM EDTBank of America Securities analysts said in a research note Monday that they believe geopolitical shocks should be bought, not sold.
The bank is constructive, however, they note that further escalations in the Middle East could evolve into a tail risk.
Furthermore, BofA states that a... More
UBS and BofA weigh in on S&P 500 earnings so far
April 22, 2024 6:24 AM EDTAnalysts at Bank of America Securities and UBS have released notes providing their view of S&P 500 earnings so far, with guidance and margins highlighted as strong points.
72 S&P 500 companies (21% of index earnings) have reported so far.
BofA said in its note on Monday that demand has been weak, but margins are strong. There is a 6% earnings per share (EPS) beat and a 1% sales beat.
The proportion of sales beats is weaker than the historical average (59%),... More
