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By Staff Reporters
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Investors were apparently tired of all the volatility yesterday, leading to a relatively calm day where indexes ever-so-slightly slipped. But it was a big day for Netflix after the Wall Street Journal reported that the streaming giant has plans to double its revenue and reach a $1 trillion valuation by 2030.
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🟢 What’s up
- Hewlett Packard Enterprise popped 5.11% after Elliott Investment Management took a $1.5 billion stake in the tech company.
- Rocket Lab rocketed (sorry) 10.14% higher after the space stock inked deals with both the US Air Force and the UK Ministry of Defense.
- Netflix rose 4.83% on a report from the Wall Street Journal that the streaming giant plans to hit a $1 trillion market capitalization and double its revenue by 2030. The company announces earnings on Thursday.
- Bank of America and Citigroup both posted strong Q1 earnings that beat analyst forecasts (more on that below). BofA climbed 3.60%, while Citi rose 1.76%.
- Palantir rose another 6.24% a day after NATO agreed to purchase its AI-powered warfighting system.
What’s down
- Albertsons tumbled 7.49% after the grocer’s full-year guidance came in below expectations.
- Allegro Microsystems sank 9.68% on the news that ON Semiconductor has withdrawn its offer to acquire the chipmaker.
- Applied Digital plummeted 35.94% after the digital infrastructure company missed analyst revenue estimates, despite sales climbing 22% last quarter.
- #recessionindicator: Coty sank 8.57% after the beauty retailer was double downgraded by Bank of America analysts, citing a slowdown in makeup spending.
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Filed under: "Ask-an-Advisor", Experts Invited, Financial Planning, Funding Basics, Investing, Portfolio Management | Tagged: Albertsons, allegro microsystems, applied digital, Bank America, BoA, Citi, coty, equities, Netflix, Palantir, rocket lab, stocks down, stocks up, Wall Street Journal, WSJ | Leave a comment »
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