Biggest stock movers today: AMZN, INTC, DNA, and more (NASDAQ:AMZN)

Category: Finance

Stock futures declined as investors reacted to mixed quarterly reports from major tech companies and disappointing nonfarm payroll data. Key stock movements included Block raising its full-year outlook, Cloudflare exceeding earnings expectations, Amazon's mixed results, Intel announcing layoffs and a disappointing outlook, Snap missing revenue expectations, Ginkgo Bioworks considering a reverse stock split, and Booking Holdings facing a forecast of slowed growth despite beating Q2 estimates.

Keywords: Stock Market, Tech Earnings, Investor Outlook

Source: Seeking Alpha

Update At: 8/2/2024

Related Sources

FedEx price target raised to $317 from $292 at Loop Capital - TipRanks.com

Loop Capital analyst Rick Paterson increased FedEx's price target to $317 from $292 while maintaining a Hold rating, citing ongoing freight recession challenges and limited visibility for recovery.

Tipranks

United Parcel Service (NYSE:UPS) Shares Down 0.3% on Analyst Downgrade

United Parcel Service's stock price decreased by 0.3% following a price target reduction by Bank of America. The stock has seen various ratings from analysts, with a current average rating of 'Hold' and a price target of $164.45. Recent quarterly earnings showed a revenue decline of 5.3% year-over-year, with a reported EPS of $1.43, surpassing estimates. The company has a market cap of $124.21 billion and a dividend yield of 4.49%. Institutional investors hold 60.26% of the stock.

MarketBeat

United Parcel Service (NYSE:UPS) Trading Down 0.3% After Analyst Downgrade

United Parcel Service's share price decreased by 0.3% following a price target reduction by Bank of America. The stock has seen a significant decline in trading volume and various analysts have issued mixed ratings, with a consensus target price of $164.45. UPS reported earnings of $1.43 per share, slightly above expectations, but revenue fell 5.3% year-over-year. The company also declared a quarterly dividend of $1.63 per share.

Defense World

Why the Market Dipped But United Parcel Service (UPS) Gained Today

UPS closed at $147.38, up 0.03%, outperforming the S&P 500 which fell 1.39%. The company has gained 9.78% over the past month. Upcoming earnings on July 23, 2024, are projected at $1.98 per share, a 22.05% decline year-over-year. The Zacks Rank for UPS is currently #4 (Sell), with a Forward P/E of 18.08, indicating a discount compared to its industry. The Transportation - Air Freight and Cargo industry ranks in the bottom 10% of all industries.

Yahoo Finance

United Parcel Service (NYSE:UPS) Shares Down 0.9%

United Parcel Service's share price fell 0.9% to $143.52, with trading volume down 85% from average levels. Analysts have mixed ratings, with a consensus 'Hold' and an average price target of $164.55. The company reported earnings of $1.43 per share, exceeding estimates, but revenue declined 5.3% year-over-year. UPS announced a quarterly dividend of $1.63 per share, yielding 4.49%. Hedge funds have increased their stakes significantly in the company.

Defense World

J.B. Hunt price target lowered to $173 from $177 at Loop Capital - TipRanks.com

Loop Capital analyst Rick Paterson has reduced the price target for J.B. Hunt from $177 to $173, maintaining a Hold rating due to ongoing freight recession concerns and a lack of visibility in the market.

Tipranks

UPS price target lowered to $152 from $161 at Loop Capital - TipRanks.com

Loop Capital has reduced its price target on UPS to $152 from $161, maintaining a Hold rating due to ongoing freight recession concerns. The analyst notes that while the end of the recession is likely closer, there are few signs of recovery and limited visibility for investors.

Tipranks

Bitcoin layer-2 startup Bitlayer raises $11m

Bitlayer has raised $11 million in a Series A funding round led by Franklin Templeton and ABCDE, increasing its total funding to $16 million. The funds will enhance Bitlayer's Web3 platform and support the development of its Mainnet-V2, a Bitcoin-native rollup. The company aims to expand its ecosystem and solidify its role in the Bitcoin network, potentially attracting significant liquidity to the Bitcoin-based decentralized finance sector.

crypto.news

ETF issuer Franklin Templeton leads Bitlayer’s $11 million Series A to scale Bitcoin network

Franklin Templeton is investing in the Bitcoin ecosystem through a $11 million Series A funding for Bitlayer Labs, a Bitcoin layer 2 project. This investment marks the first by an ETF-licensed institution in a Bitcoin infrastructure project, aiming to enhance Bitcoin's scalability and yield-generating opportunities. Bitlayer's technology seeks to improve transaction efficiency while maintaining Bitcoin's security.

Fortune

Bitcoin Layer-2 Chain Bitlayer Raises $11M Led by ETF Issuer Franklin Templeton

Bitlayer Labs raised $11 million in a Series A funding round, valuing the company at $300 million. The investment, led by Franklin Templeton, indicates growing interest from traditional finance in decentralized finance. Bitlayer's technology aims to enhance Bitcoin's utility through Turing completeness, enabling Ethereum-style smart contracts on the Bitcoin blockchain.

CoinDesk