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SpaceX (SPCX) shares rose about 1.5% on Tuesday, recovering modestly after a recent selloff that brought the stock close to its initial public offering price, as a broader market rally and a fresh bullish analyst initiation supported sentiment. The stock traded around $141 after falling about 4% on Monday. Despite the rebound, shares remained only… Continue reading SpaceX stock trades near IPO price, but analysts remain strongly bullish

Arm Holdings shares fell more than 6% on Tuesday after HSBC downgraded the chip designer to Hold, saying foundry capacity constraints are likely to limit earnings upside despite the company’s strong long-term growth prospects. The brokerage still raised its price target to $315 from $255. With Arm trading around $286, HSBC sees upside over the… Continue reading Arm stock falls 6% as HSBC cites foundry bottlenecks, cuts rating to Hold

Bank of America (BAC) shares are extending gains on Tuesday morning after the investment firm came in handily above Street estimates for its fiscal Q2. BAC earned $1.21 on a per-share basis (EPS) in its recently concluded quarter, on a 15% year-on-year increase in revenue to $31.6 billion. Yet, if you pull back the curtain… Continue reading Bank of America Q2 earnings weren’t without pockets of weakness

Apple AAPL stock fell around 1% on Tuesday after KeyBanc Capital Markets downgraded the iPhone maker, citing slowing hardware demand, weaker growth expectations, and valuation concerns despite the stock’s strong performance over the past year. Shares declined about 1.7% to $311.91 on Tuesday after analyst Brandon Nispel cut his rating on the stock to Underweight… Continue reading Apple stock falls after KeyBanc downgrade on slowing growth concerns

Citigroup beat Wall Street estimates for second-quarter profit after reporting its highest quarterly revenue in a decade, as strong trading activity and higher investment banking fees boosted results. The bank reported net income of $5.8 billion, or $3.15 per share, representing a 45% increase from the same period last year. Analysts had expected earnings of… Continue reading Citigroup stock rises after reporting strong Q2 results driven by trading and growth

US stocks opened higher on Tuesday after softer-than-expected June inflation data reduced expectations of an immediate Federal Reserve rate hike.  Investors also assessed second-quarter earnings from major US banks and corporate results, while keeping an eye on rising oil prices following renewed tensions in the Middle East. The S&P 500 rose about 0.12%, while the… Continue reading Nasdaq rises as soft CPI eases Fed fears, IBM plunges over weak outlook