Under 5 tech stocks

U.S. equity markets are dropping to begin the new week, led lower by shares of Facebook parent Meta Platforms Inc. ( FB ) and other tech stocks. Key Takeaways Tech stocks, led by Facebook parent Meta Platforms, Google parent Alphabet, and Apple, declined, pushing markets lower. Spirit Airlines rose after it agreed to be bought for $6.6 billion by Frontier, creating the fifth largest U.S. carrier. Bond yields advanced past 1.9% and crude oil slipped after last week's gains. Meta shares are 5% lower, adding to steep losses that erased more than a quarter of the company's market value after the company last week said that it had lost daily active users for the first time. Apple Inc. ( AAPL ), Microsoft Corp. ( MSFT ) and Google parent Alphabet Inc. ( GOOG ) all fell. Hasbro ( HAS ) shares are falling on its earnings report. Shares of Verizon Communications Inc. ( VZ ) are down as the company announced it would now only offer three-year phone contracts. … [Read more...] about Tech Stocks Drop, Sending Markets Lower, as Meta Shares Fall Further

Share to Twitter Share to Linkedin Topline With the stock market falling for the last six weeks in a row amid growing concerns about an economic slowdown and the Federal Reserve raising interest rates to combat inflation, an increasing number of Wall Street experts are warning of now “uncomfortably high” recession risks, with rising odds of a downturn within the next two years. Key Facts Markets moved lower again on Monday, struggling to rebound from a brutal selloff in recent months that has caused tech stocks to nose-dive and pushed the S&P 500 to the edge of bear market territory. Goldman Sachs became the latest major firm to slash its market outlook on Monday, citing higher interest rates and “slower economic growth than we previously assumed,” though stocks could still bounce back later in the year. Goldman chief economist David Kostin lowered his year-end price target for the S&P 500 to 4,300 from 4,700—implying roughly 7% … [Read more...] about Stocks Keep Tanking As Growing Number Of Wall Street Experts Warn About Rising Recession Risks

Share to Twitter Share to Linkedin Lee Ainslie's Maverick Capital recorded its second-worst quarter ever during the first quarter, a dramatic turnaround from last year's first quarter when the fund enjoyed its strongest quarter ever. During the first three months of this year, Maverick returned -22.9%, compared to the S&P 500's loss of 4.6% and the MS World's decline of 5.2%. First-quarter detractors In his first-quarter letter to investors, Ainslie pointed to four contributors to the fund's weak performance. Their sizable position in Coupang accounted for about two-thirds of the loss due to the stock's 40% plunge, while high-growth and mega-cap tech stocks saw a broad-based decline. Finally, biotech stocks as a whole tumbled because they were grouped in with other long-duration assets, and dollar-volume M&A activity in the space has declined significantly in the last 12 months. Ainslie believes concerns about the impact of discount rates on … [Read more...] about Lee Ainslie On Maverick Capital’s Housing Shorts And New Healthcare Stock

HCL Tech CHRO Apparao VV HCL Technologies, which has about 1,700 employees in troubled Sri Lanka, has set up a team to monitor the situation as the island nation grapples with food and fuel shortages amid record inflation and an economic crisis. While there has been no work disruption so far, it is preparing for all scenarios, with backup plans ready to move work and people to India. Apart from Sri Lanka, Costa Rica, and Poland, HCL Tech is stepping up hiring in smaller Indian cities such as Madurai, Lucknow, and Nagpur as it looks toward fresher pools of talent amid booming demand for software services and rising attrition. In an interview with Moneycontrol , VV Apparao, chief human resource officer of HCL Tech, explains the company’s efforts in augmenting the talent supply chain and steps it is taking to counter the challenges of hiring and attrition. Edited excerpts: In Q4, HCL Tech reported attrition on the last 12-month basis jumped to 21.9 percent from 19.8 … [Read more...] about HCL Tech monitoring crisis in Sri Lanka daily, sees no work disruption: CHRO Apparao

- A + A SHANGHAI (May 17): Chinese stocks ended higher on Tuesday (May 17) as Shanghai achieved a key Covid-19-related milestone required to ease restrictions, while tech giants and Hong Kong shares logged the biggest jump in six weeks following reports about a meeting by a top political consultative body to promote the digital economy. Both Internet firms listed in Hong Kong and the Hang Seng benchmark surged the most since April 29, when authorities vowed at the top-level Politburo meeting to step up policy support to stabilise the economy and financial markets. The blue-chip CSI 300 Index ended 1.3% higher at 4,005.89, while the Shanghai Composite Index gained 0.7% to 3,093.70 points. The Hang Seng Index rose 3.3% to 20,602.52, while the China Enterprises Index gained 3.7% to 7,076.80 points. Shanghai reported a long-awaited milestone of three straight days with no new Covid-19 cases outside quarantine zones — the "zero Covid" status. A nationwide caseload … [Read more...] about China stocks close up as Shanghai’s Covid-19 situation improves, tech giants soar

Share to Twitter Share to Linkedin Doximity Inc. is scheduled to report earnings after Tuesday’s close. The stock hit a record high of $107.79/share in 2021 and is currently trading near $33/share. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down. To help you prepare, here is what the Street is expecting: Gallery: The Best- And Worst-Paying Jobs For Doctors 22 images View gallery Earnings Preview: The company is expected to report a gain of $0.15/share on $90.11 million in revenue. Meanwhile, the so-called Whisper number is a gain of $0.18/share. The Whisper number is the Street's unofficial view on earnings. A Closer Look At The Fundamentals: The company’s earnings and sales have steadily grown by triple digits in the last four quarters which is a very healthy sign. Meanwhile … [Read more...] about Earnings Preview: What To Expect From Doximity On Tuesday

Major Moves The majority of the stocks in the S&P 500 lost ground today as traders attempted to quantify and make adjustments for the uncertain risk they face with the Trump administration's tariff deadline looming at 12:01 a.m. Friday morning. The risk is uncertain because nobody knows if the Trump administration is going to go through with tariff increase. The U.S. Trade Representative's (USTR) office filed paperwork on Wednesday to raise tariffs on $200 billion of Chinese goods from 10% to 25%, but that doesn't mean the administration has to pull the trigger. However, the S&P 500 component that lost the most ground today didn't drop because of uncertain tariff risks. It fell because it faces easily quantifiable risks – 38 billion of them to be precise. Until today, Occidental Petroleum Corporation ( OXY ) had been in a bidding war with Chevron Corporation ( CVX ) for Anadarko Petroleum Corporation ( APC ). Chevron originally bid $33 billion for Anadarko, … [Read more...] about Occidental Petroleum Stock Plunges, but S&P 500 Rallies Into Close

- A + A KUALA LUMPUR (May 18): RHB Retail Research said PMB Technology Bhd is preparing for an uptrend reversal as it bounced off strongly from the recent bottom to close positively last Friday – while aiming for the immediate resistance of RM3.44. In a trading stocks note today, the research house said if the positive momentum resumes and breaches above the resistance level, an uptrend momentum could be established to boost the stock further towards RM3.60, followed by the RM3.75 resistance. “Conversely, the downtrend below the 21-day average line may be resumed if it falls below the RM3.13 support – negating the recent bullish candlestick pattern,” it said. … [Read more...] about PMB Tech preparing for an uptrend reversal, says RHB Retail Research

London (CNN Business) Among the many silly, mind-numbing, agenda-pushing exchanges happening on Twitter at any given moment, the one playing out between the President of the United States and the world's second-richest person stands out for both its dullness and its deliberate oversimplification. If you've been away from Twitter lately, first of all: Good on you. Here's a quick recap of the dispute between Jeff Bezos and President Joe Biden. On Friday, Biden tweeted that the way to bring down inflation is to "make sure the wealthiest corporations pay their fair share." Bezos, founder of Amazon, an absurdly wealthy corporation, took issue with that. He fired off a reply, saying that linking corporate taxes to inflation is "just misdirection." The White House pushed back, then Bezos pushed back again . Read More In short, Bezos believes federal stimulus payments caused inflation. Biden says corporate greed is the culprit. … [Read more...] about Jeff Bezos and Joe Biden are having the stupidest fight ever

With more than 12 percent corrections just behind us, this is time to start investing in lumpsum and there are possibilities of good inflows at these levels, but it would be foolhardy to assume that the market sentiment would not impact the investors' mood. Markets have quickly factored in most of the tightening, argues Aashish P Somaiyaa, CEO at WhiteOak Capital Asset Management, while sharing his views on the market trends during an interaction with Moneycontrol . "To make money, one needs to be counter-cyclical but exaggerated moves in the markets evoke emotional reaction in investors, that’s natural. Humans are not logical, they are psychological as is written by Rory Sutherland in his book, Alchemy: The Surprising Power of Ideas That Don't Make Sense ," he says. Excerpts from the interaction: How do you approach the market after it rebounded from over 12 percent correction in the last one-and-a-half-months? Close Around 5-10 percent correction from … [Read more...] about Daily Voice | It’s time to start investing lumpsum into markets, says Aashish Somaiyaa of WhiteOak Capital