FINANCE
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Best Buy broadly misses earnings estimates as consumers pull back on appliances, electronics
Even artificial intelligence couldn’t make up for flagging consumer demand at Best Buy (BBY). For the twelfth consecutive quarter, the retailer posted negative same-store sales growth, down 2.9% year over year versus estimates of down 0.92%. Net sales of $9.45 billion and adjusted earnings per share of $1.26 also missed expectation of $9.63 billion and $1.29 per share, respectively. CEO…
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Here Are My Top Artificial Intelligence (AI) Stocks to Buy Right Now (Hint: Not Nvidia)
There are many ways to buy into the artificial intelligence (AI) frenzy. Many investors look to AI hardware designer Nvidia, making the former video gaming accelerator maven one of the most valuable companies in the world. Nvidia is a great company, but the stock may have soared too high, too fast. There are more reasonable AI ideas out there right…
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US finalizes $1.5 billion chips award for GlobalFoundries to expand production
By David Shepardson WASHINGTON (Reuters) – The U.S. Commerce Department said Wednesday it has finalized a $1.5 billion government subsidy for GlobalFoundries to expand semiconductor production in Malta, New York and Vermont. The binding contract for New York-based GlobalFoundries, he world’s third-largest contract chipmaker, finalizes a preliminary award announced in February after the company said it was investing $13 billion…
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1 Stock to Buy, 1 Stock to Sell This Week: Nvidia, Target
• Fed speakers and Nvidia earnings will be in focus this week. • Nvidia is a buy with another huge beat-and-raise quarter on deck. • Target is a sell amid declining sales, downbeat outlook expected. • Looking for more actionable trade ideas? Subscribe here for up 55% off as part of our Early Bird Black Friday sale! U.S. stocks finished…
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Cava stock on a tear as fast-casual players continue to outperform the industry
Fast-casual chains continue to outpace the wider food industry in growth as value conscious diners demand affordable prices and experiences. Mediterranean chain Cava (CAVA) beat Wall Street estimates Tuesday afternoon, with same-store sales jumping 18.1%, compared to 12.39% expected. The stock vaulted over $172 per share — an all-time high — on Wednesday, before giving up the gains and closing…
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AbbVie tumbles after new schizophrenia drug fails two trials
(Bloomberg) — AbbVie Inc. (ABBV) shares fell the most in three years after two mid-stage trials of its drug to treat schizophrenia failed to meet their primary goal, a blow to the company’s $8.7 billion acquisition of Cerevel Therapeutics earlier this year. Most Read from Bloomberg The medicine, emraclidine, didn’t show a statistically significant improvement on a scale used for…
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Paramount posts another quarter of streaming profit, but linear TV and studio struggles pressure revenue
Paramount Global (PARA) reported third quarter earnings before the bell on Friday that showed further improvement in its streaming business it gets ready to combine with Skydance Media. The media giant posted its second quarter of profit in a row for the segment. For the first nine months of the year, streaming losses stand at $211 million, a nearly $1…
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2 Magnificent Stocks to Buy That Are Near 52-Week Lows
It’s been an excellent year for stocks amid a resilient macroeconomic backdrop. The S&P 500 index is up 20% year to date with several high-profile companies delivering spectacular returns heading into 2025. At the same time, not all stocks have rallied alongside the market. Looking at some of the laggards can sometimes uncover a high-quality gem that has been beaten…
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Nvidia replaces Intel on the Dow index in AI-driven shift for semiconductor industry
NEW YORK (AP) — Nvidia is replacing Intel on the Dow Jones Industrial Average, ending a 25-year-run for a pioneering semiconductor company that has fallen behind as Nvidia cornered the market for chips that run artificial intelligence systems. Paint-maker Sherwin-Williams will also replace chemical company Dow Inc. among the companies that make up the 30-stock average. S&P Dow Jones Indices…
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One chart shows how AI will drive another decade of US stock market dominance
US companies already dominate the global stock market when it comes to size. A new chart from JPMorgan Asset Management shows that’s largely expected to continue. The firm attributes the boom to artificial intelligence. In JPM’s 2025 Long-Term Capital Market Assumptions released on Monday, the team projected that US companies’ market cap share of the total global equity market will…
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