⚠️ WHAT HAPPENED, YESTERDAY? 20/02/24 ⚠️
🔥 $ONL (Orion Office Reit Inc.) closed in red -2.48% at $4.71 per share.
🔥 $REE.US (REE Automotive Ltd) closed in red -4.69 at $7.93 per share.
🔥 $TSLA (Tesla Motors, Inc.) closed in red -3.10% at $193.76 per share.
🔥 $INTC (Intel) closed up 2.32% at $44.52 per share.
🔥 $LEG (Leggett & Platt Inc) closed up 3.33% at $20.46 per share.
🔥 $NWL (Newell Brands Inc.) closed up 1.69% at $7.80 per share.
📃 Yesterday, stocks fell as Nvidia led a broader tech decline ahead of the chipmaker’s earnings report.
📃 The Dow Jones Industrial Average dipped 64.19 points, or 0.17%, settling at 38,563.80.
📃 The S&P 500 slipped 0.60% to end at 4,975.51.
📃 The Nasdaq Composite lost 0.92% to close at 15,630.78.
📃 The Consumer Staples Select Sector SPDR Fund (XLP) was up 1.1% in afternoon trading. The sector is the best performer on the day, followed by utilities, according to FactSet.
📃 U.S. crude oil futures pulled back yesterday after hitting a three-month high last week as the conflict in the Middle East raged on.
The West Texas Intermediate contract for March fell $1.01, or 1.28%, to settle at $78.18 a barrel. The Brent contract for April dropped $1.22, or 1.46%, to $82.34 a barrel. There was no WTI settlement on Monday due to the President’s Day holiday.
U.S. crude gained 3% last week to settle Friday at its highest price, $79.19 a barrel, since Nov. 6. The global benchmark rose 1.5% for the week to settle at its highest price since Jan. 26.
👉 Corporate news 👈
👨💻 Nvidia, which is set to report earnings today after the bell, fell nearly 4.4% yesterday. Although Nvidia is expected to post impressive results, investors have expressed concerns about its sky-high valuation.
👨💻 Walmart announced it will acquire TV maker Vizio for $2.3 billion, or $11.50 a share, leading shares of Vizio to climb by about 16%. Walmart shares added more than 3% after the big-box retailer also beat quarterly earnings and revenue expectations, fueled by double-digit growth in the company’s global e-commerce sales.
👨💻 Shares of Discover Financial Services jumped 14.3% yesterday, leading the stock to a new 52-week high and making it the S&P 500′s biggest gainer.
The rally comes a day after Capital One announced it would acquire Discover in a $35.3 billion all-stock deal.
👨💻 Home Depot — Shares slipped about 2.5% after the retailer beat its fiscal fourth-quarter estimates on the top and bottom lines, but issued lower-than-expected guidance. The company forecast full-year revenue growth of 1%, while analysts polled by FactSet expected 1.6%. Net income and sales also fell throughout the quarter.
👨💻 Super Micro Computer — Stock in the information technology company climbed more than 2% after Rosenblatt nearly doubled its price target, calling for 62% upside moving forward. Rosenblatt’s price target is now the highest forecast for the stock on Wall Street.... Show More
