Top Stocks to Watch on Wall Street: Nvidia Soars, AI-Related Chipmakers Rise, Goldman Sachs Settles Lawsuit, Retailers Drop, and More

(Updated with US Steel, Dollar Tree, Netease, Futu Holdings, Societal, International Flavors & Fragrances, Estee Lauder Companies) PARIS, Aug 24 (Reuters) – Top stocks to watch on Thursday on Wall Street where major index futures suggest a stable opening for the Dow Jones .DJI , and up 0.6% for the Standard & Poor’s 500 .SPX and 1.19% for the Nasdaq .IXIC : * NVIDIA NVDA.O jumps 8.5 % in premarket trading at $510.14, a record high, after the company reported quarterly revenue that beat expectations and announced a $25 billion share buyback. * Stocks of artificial intelligence (AI)-related chipmakers rose on the heels of Nvidia’s results. ADVANCED MICRO DEVICES AMD.O , MICRON TECHNOLOGY MU.O , BROADCOM AVGO.O , SUPER MICRO COMPUTER SMCI.O and MARVELL TECHNOLOGY MRVL.O rose 2.8% to 9.4% before the opening. * The titles of technological groups linked to artificial intelligence (AI) are also progressing on the forefront in the wake of the results of Nvidia. MICROSOFT MSFT.O climbed 1.9%, compared to 2.1% for META PLATFORMS META.O and 4.4% for PALANTIR TECHNOLOGIES PLTR.N. C3.AI AI.N increases by 6.0%, SOUNDHOUND SOUN.O by 3.3%, GUARDFORCE GFAI.O by 2.6%, BIGBEAR BBAI.N by 5.0%. * BOEING BA.N is down 1.7% before the opening after the company said a problem with the supplier of the new 737 MAX would delay aircraft deliveries. SPIRIT AEROSYSTEMS SPR.N is down 3.4% in the wake of Boeing. * GOLDMAN SACHS GS.N, JPMORGAN CHASE JPM.N, MORGAN STANLEY MS.N and UBS UBSG.S agreed to pay $499 million to settle an antitrust lawsuit filed by investors who accused them of stifling competition on the equity lending segment. * CVS HEALTH CVS.N said on Wednesday it has launched a new company called Cordavis that will work directly with manufacturers to commercialize and co-produce biosimilar drugs for the US market. Next year, the company will partner with the Sandoz unit of Swiss drugmaker Novartis NOVN.S to bring Hyrimoz, a version of ABBVIE ABBV.N’s drug Humira, to market at a price more than 80% lower than that of the original drug. * US STEEL XN fell 3% in pre-market trading, as the Esmark group withdrew its takeover bid for the steel producer. * DOLLAR TREE DLTR.O forecasts full-year earnings of $5.78 to $6.08 per share for fiscal 2023, compared to previous guidance of $5.73 to $6.13, due to lower consumption and rising inflation. Retailers fell 9.3% before opening. * US-listed NETEASE NTES.O shares fell 2.5% before the opening, as the group reported net income of 24.01 billion yuan (3.03 billion euros) as of second quarter, below analysts’ expectations of 24.95 billion. * US-listed FUTU HOLDINGS FUTU.O stock was up 1.6% before opening as the group reported second-quarter revenue growth of 42.3%. * SPLUNK SPLK.O – The data analytics software maker forecasts third-quarter revenue of between $1.02 billion and $1.035 billion, with analysts expecting an average of $981.34 million. The group earns 9% after closing. * AUTODESK ADSK.O – The 3D design software maker rose 1.88% after the close as the company reported second-quarter adjusted earnings per share of $1.91, with consensus calling for $1.73. * GUESS GES.N jumped 20% in after-market trading, after raising its adjusted EPS forecast to between $2.88 and $3.08 per share, from a previous forecast of $2.60 to $2.90 . * SNOWFLAKE SNOW.N – The data analytics company in cloud computing was up more than 3% after the close. Group revenue rose about 36% to $674 million for the quarter ended July 31, above analysts’ average estimate of $662.2 million, data showed. Refinitiv. * SOCIETAL CDMO SCTL.O fell 29.3% in pre-market trading after the company announced plans for a public issue. * INTERNATIONAL FLAVORS & FRAGRANCES IFF.N – Morgan Stanley lowers its recommendation from “overweight” to “line weight”. The group lost 1.2% before the opening. * ESTEE LAUDER COMPANIES EL.N — Bernstein lowers its recommendation from “outperform” to “line performance.” The group lost 1.5% before the opening. * PTON.O INTERACTIVE PELOTON – Needham lowers its recommendation from ‘buy’ to ‘neutral’. * ANALOG DEVICES ADI.O – Piper Sandler lowers its recommendation from “overweight” to “neutral”. (Writing by Corentin Chapron, editing by Kate Entringer)
2023-08-24 10:43:11


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