Amazon & Intel Earnings | Closing Bell

Category: Finance

Major sell-off in equities with a 7% drop in the Sox index. Intel and Amazon report disappointing earnings, leading to significant declines in their stock prices. The Dow Jones Industrial Average fell over 500 points, while the Nasdaq composite dropped about 2.3%. Elevated trading volume noted, particularly in the Nasdaq 100. Intel announced a $10 billion cost reduction plan and suspended its dividend, raising concerns about its financial health.

Keywords: Stock Market, Earnings Reports, Intel

Source: Bloomberg

Update At: 8/2/2024

Related Sources

Tesla Rival Rivian’s Stock Has Best Day EverAs Surprise Post-Election Rally Accelerates

Rivian stock experienced its largest daily percentage gain ever, rising 56% since Election Day, amid a broader rally in American car stocks. Despite concerns over potential cuts to electric vehicle subsidies under President-elect Trump, Rivian's performance has defied expectations. The company, however, remains significantly down from its peak and has yet to report a profitable quarter, with substantial institutional backing and a notable share of the U.S. electric vehicle market.

Forbes

Why Are fuboTV (FUBO) Shares Soaring Today

Shares of fuboTV surged 240% after a new streaming deal with Disney, where Disney will hold a 70% stake in a joint venture. Fubo also resolved legal disputes with Disney and ESPN, receiving $220 million. Despite volatility, fuboTV's stock has increased 260% this year, reaching a new 52-week high.

Yahoo Finance UK

Nvidia Stock Is Surging Today -- Is the AI Leader's Stock a Smart Buy for 2025?

Nvidia stock has surged over 200% in the past year, driven by strong demand for AI hardware and positive indicators from Foxconn's record revenue. Anticipation builds for CEO Jensen Huang's keynote at CES, where new products and advancements in AI technology are expected to be highlighted. Microsoft's significant investment in AI data centers further supports Nvidia's growth outlook.

Motley Fool

Moderna Stock Soars After First US Bird-Flu Death

Moderna's shares surged over 10% following the first reported bird-flu death in the U.S., as the company develops a vaccine for H5N1. Despite the recent gain, the stock has lost over half its value in the past year.

Investopedia

Why Nvidia Stock Slumped Tuesday Morning

Nvidia's stock experienced a decline of up to 6% following a record high, influenced by overall market weakness and recent product announcements at CES. CEO Jensen Huang unveiled new AI-powered gaming GPUs, the Cosmos platform for AI applications, and AI Blueprints for developers. Despite the recent dip, analysts believe Nvidia's stock has significant growth potential, with a market cap projected to exceed $4 trillion in the next 12 to 18 months, making it a favorable investment.

Motley Fool

The Verizon Administrative Settlement Payment is a Reminder Class-Action Lawsuits Won't Make You Rich

Verizon's $100 million class-action settlement resulted in payouts significantly lower than expected, with many customers receiving between $7 and $11 instead of the anticipated minimum of $15. The final amounts were affected by the number of claims filed and associated costs, highlighting the unpredictability of class-action lawsuit payouts.

Kiplinger's Personal Finance

Lincoln Financial Releases Its Q1 Market Intel Exchange, Highlighting Top Investment Trends on the Minds of Investors

Lincoln Financial's Market Intel Exchange report highlights key economic and market trends for 2025, emphasizing the Federal Reserve's cautious approach to monetary easing, potential impacts of policy uncertainty, and historical performance of the S&P 500. The report suggests that despite recent gains, investors should remain focused on long-term strategies and ensure portfolio diversification to navigate upcoming market volatility.

Business Wire

Why IonQ Stock Is Crashing Today

IonQ's stock plummeted by 38.3% following Nvidia CEO Jensen Huang's comments suggesting that commercially viable quantum computers are still decades away. Despite a 133% increase over the past year, concerns about the long-term timeline for quantum computing's commercial applications may lead to further declines in IonQ's share price.

Motley Fool

IonQ Stock Sees Volatility Amid Quantum Computing Developments

IonQ's stock has experienced significant volatility, with a recent 10% drop following Nvidia CEO Jensen Huang's comments on the long timeline for practical quantum computing. Despite a 237% increase over the past year, the stock's fluctuations reflect the risks and potential of the quantum computing sector. Investors are advised to monitor technological advancements and market trends closely.

The Africa Logistics

Quantum Stocks Drop as Nvidia CEO Sees Use Years Away

Shares of IonQ Inc. and other quantum computing companies fell sharply after Nvidia CEO Jensen Huang stated that practical quantum computers are likely decades away. Stocks like Quantum Computing Inc. and D-Wave Quantum Inc. dropped over 30%, reflecting a significant market reaction to Huang's comments, which also affected Chinese quantum firms.

Yahoo Finance