Shares of networking chips designer Marvell Technology (NASDAQ: MRVL)
jumped 4.9% in the afternoon session after several analysts updated their views on the company's stock. Susquehanna analyst Christopher Rolland maintained a Positive rating on Marvell and increased the price target to $100 from $80. Similarly, UBS analyst Timothy Arcuri kept a Buy rating while raising the firm's price target to $110 from $105.
Not all analysts were as bullish. HSBC initiated coverage on the stock with a “Hold” rating and an $85 price target. The bank's analyst noted that while Marvell was an “important AI player,” it faced strong competition from rivals like Broadcom. Despite this, some reports highlighted that Marvell's stock continued to be priced reasonably compared to its AI peers and its financial position remained solid.
Shares of IT infrastructure services provider Kyndryl (NYSE:KD) jumped 1.7% in the afternoon session after Guggenheim initiated coverage on the company with a Buy rating and set a price target of $30. The new price target suggested a notable upside from the stock's previous closing price of $25.11. Analyst Jonathan Lee's bullish stance came as the company, which spun off from IBM in 2021, continued to implement its 'Triple A' program aimed at improving profitability and cash flow. The initiation of coverage with a positive rating signaled confidence in the company's direction.
Shares of financial services company Robinhood (NASDAQ:HOOD)
jumped 8.2% in the afternoon session after it announced a new joint venture with Susquehanna International Group to acquire a 90% stake in the regulated exchange MIAXdx, a move to significantly bolster its prediction markets business.
Shares of agricultural and construction machinery company Deere (NYSE:DE) fell 5.3% in the afternoon session after the company lowered its full-year earnings guidance during its third-quarter report, signaling persistent challenges in the agricultural market.
Shares of digital operations platform PagerDuty (NYSE:PD) fell 25.8% in the afternoon session after the company reported its third-quarter results and provided a disappointing revenue forecast, signaling slowing growth.
Shares of department store chain Kohl’s (NYSE:KSS)
jumped 8.1% in the afternoon session after the company appointed Michael Bender as its permanent chief executive and raised its full-year financial forecast after reporting better-than-expected third-quarter results.
Shares of cloud security platform Zscaler (NASDAQ:ZS) fell 11.1% in the afternoon session after the company's third-quarter results showed a miss on billings, a key metric for future growth, which overshadowed an impressive "beat and raise" quarter.
Shares of golf entertainment and gear company Topgolf Callaway (NYSE:MODG)
jumped 7.9% in the afternoon session after the stock hit a new 52-week high, capping a period of strong performance that was supported by the recent announcement of a major business deal.
Shares of athletic apparel retailer Lululemon (NASDAQ:LULU)
jumped 3% in the afternoon session after an analyst at BTIG reiterated a "buy" rating on the stock ahead of its third-quarter earnings report.
Stocks are looking to extend yesterday's rally, with the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 Index all headed for their fourth consecutive daily gains.
March NY world sugar #11 (SBH26 ) today is up +0.21 (+1.41%), and March London ICE white sugar #5 (SWH26 ) is up +5.60 (+1.31%). Sugar prices climbed to 5-week highs today after StoneX cut its Brazil 2026/27 Center-South sugar production estimate to...
Shares of health and wellness products company Herbalife (NYSE:HLF)
jumped 10.8% in the afternoon session after Argus Research upgraded its rating on the company's stock to 'Buy' from 'Hold' and set a new price target of $15.
Shares of aerospace and defense technology solutions provider Astronics Corporation (NASDAQ:ATRO)
jumped 5.6% in the afternoon session after TD Cowen initiated coverage on the company with a "Buy" rating and set a price target of $65.
Shares of sporting goods retailer Academy Sports & Outdoor (NASDAQ:ASO)
jumped 5.3% in the afternoon session after positive results from a key competitor and an announcement of its own store expansion.
Shares of footwear and accessories discount retailer Designer Brands (NYSE:DBI)
jumped 6.7% in the afternoon session after the company expanded its Board of Directors and declared a quarterly cash dividend.
Shares of edge cloud platform Fastly (NYSE:FSLY) fell 6.7% in the afternoon session after its Chief Technology Officer, Artur Bergman, sold 40,000 shares of the company's stock.
EUR/GBP retreats on Wednesday after the latest United Kingdom budget revealed by Chancellor Rachel Reeves appears to be well received by investors, which initially sold off the British Pound, trimming its earlier losses.
MSTR stock kept falling as interest costs ratchet higher. Strategy has lost most of its premium vs. the value of its bitcoin holdings, but it's not there yet.
March ICE NY cocoa (CCH26 ) today is up +19 (+0.37%), and December ICE London cocoa #7 (CAZ25 ) is up +12 (+0.33%). Cocoa prices recovered from early losses today and turned higher as a weak dollar sparked short covering in cocoa futures. Cocoa price...
Gold holds firm on Wednesday as traders lean into a more dovish Fed outlook, with XAU/USD trading around $4,150, easing slightly after climbing to two-week highs near $4,173 earlier in the day.
Concerns over Nvidia’s rising Days Sales Outstanding have sparked debate among investors, but a closer look shows the metric is far less alarming and far more explainable than the bearish narrative suggests.
According to a Bloomberg News report, citing people familiar with the matter, Blackstone is likely to announce the purchase of MacLean from Centerbridge Partners as soon as next week.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Shopify (NASDAQ:SHOP) and its peers.
