Communications chips maker Qorvo (NASDAQ: QRVO) announced better-than-expected revenue in Q4 CY2024, but sales fell by 14.7% year on year to $916.3 million. Guidance for next quarter’s revenue was better than expected at $850 million at the midpoint, 1.2% above analysts’ estimates. Its non-GAAP profit of $1.61 per share was 33.2% above analysts’ consensus estimates.
CrowdStrike Holdings was recently the Nasdaq's best-performing stock as it and other cybersecurity companies got a boost after Chinese artificial intelligence startup DeepSeek reported a cyberattack.
The Nasdaq and other major indexes rebounded on Tuesday, recovering from the sharp sell-off triggered by DeepSeek’s crash, which had sent AI stocks tumbling. Nvidia, which plunged over 16% on Monday, regained more than 7% in the rebound.
Smithfield Foods was valued at $7.7 billion after its shares fell 3.2% on Tuesday, in a muted debut that might prompt other IPO candidates to tread cautiously. Despite the surge of optimism sparked by President Donald Trump's pledges for pro-business policies and corporate tax reductions, concerns about unpredictable interest rates and inflation have tempered overall economic confidence. Even tried-and-tested companies such as Smithfield, which was founded in 1936 and is profitable, may have to temper their valuation expectations, analysts have said.
Shares of security and Aerospace company Lockheed Martin (NYSE:LMT) fell 8.9% in the morning session after the company reported underwhelming fourth quarter results, with revenue and earnings both falling below Wall Street's expectations. Its full-year EPS guidance also missed significantly. Notably, this quarter's EPS fell short of Wall Street's estimates because the company recorded a $1.3 billion loss in its Missiles and Fire Control (MFC) business segment. Overall, these results could have b
Shares of off-Road and powersports vehicle corporation Polaris (NYSE:PII) fell 8.3% in the morning session after the company reported underwhelming fourth-quarter results. Polaris exceeded analysts' revenue expectations, but it is worrisome that sales declined over 20% year-on-year. Management cited "lower volume due to planned reductions in shipments as we actively managed dealer inventory in a subdued retail environment." EBITDA also missed. Looking ahead, the company guided to meaningful decl
Shares of measurement equipment distributor Transcat (NASDAQ:TRNS) fell 23.7% in the afternoon session after the company reported weak fourth-quarter results. Its revenue missed significantly, and its EBITDA fell short of Wall Street's estimates. The company noted that organic sales in the services segment were below historical trends, and customers closed some facilities while operating with reduced staffing levels, which limited the volume of incoming equipment during the December 2024 holiday
Shares of cruise vacation company Royal Caribbean (NYSE:RCL) jumped 13.2% in the afternoon session after the company reported strong third results, with earnings exceeding analysts' expectations while revenue was in line. Looking ahead, Royal Caribbean's positive EPS guidance for the next quarter exceeded analysts' expectations. Overall, this quarter had some key positives.
Wall Street is banking on two interest rate cuts in 2025.
(Bloomberg) -- As Canada’s currency weakens, fund managers are leaning into sectors that pay expenses in the local currency while collecting revenue in US dollars. That has made buying stocks in gold miners a jackpot trade as the so-called loonie is expected to fall further.Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials Texas HOA Charged With Discrimination for Banning Section 8 RentersBudapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’Newsom Enlist