Before the bell rings, see which firms are in the news.
Shares of the Truth — Trump Media & Technology After former President Donald Trump was assassinated on Saturday, social media usage dropped by over 50%. There are many who contend that the endeavour might increase the likelihood of a Trump win in November.
Cliffs in Cleveland Following the announcement of its CAD$3.4 billion, or roughly $2.5 billion, acquisition of Canadian steel mill company Stelco Holdings, the steel maker saw a 3.5% fall.
Tesla – The stock of electric vehicles increased by 4%, continuing its more than 25% gain this month.
AutoNation — Following the car retailer’s announcement that it anticipates a negative impact on second-quarter earnings due to a cyber incident involving CDK Global, a third-party information systems supplier, AutoNation shares fell by less than 1%.
BlackRock’s stock increased by 1.2%. The largest asset manager in the world reported adjusted earnings per share for the second quarter of $10.36, above the $9.93 LSEG consensus estimate. Nevertheless, revenue of $4.81 billion was less than expected at $4.85 billion.
Baxter International – The stock of medical supplies dropped more than 2% following been lowered by Morgan Stanley from equal-weight to underweight. Despite trading at its lowest point in over a decade, the investment group stated that Baxter has limited potential.
Apple—Shares of Apple increased by 2%. Loop Capital raised the behemoth of technology to a buy rating, citing the possibility that the maker of the iPhone might establish itself as the go-to “base camp” for generative AI due to its impending and future AI integrations.
Super Micro Computer: The company’s shares increased 3.6% after it was revealed that it will take the place of pharmacy chain Walgreens Boots Alliance in the Nasdaq 100 index prior to the start of trading on July 22.
Goldman Sachs — After the bank reported better-than-expected second-quarter earnings, shares fell by less than 1%. Goldman reported $8.62 in profits per share on analysts surveyed by LSEG predicted earnings of $8.34 on revenue of $12.46 billion, compared to revenue of $12.73 billion.
Crypto stocks: As bitcoin and Ethereum surged more than 4%, shares of bitcoin miners and cryptocurrency stocks increased. Along with CleanSpark, Riot Platforms, Marathon Digital, and Coinbase, all saw a 5% increase. SolarEdge
Technologies: The solar company’s shares fell by almost 9% on the announcement of 400 staff layoffs intended to boost profitability at a period of diminishing sales. Other solar equities had a decline, with Sunrun and Sunnova Energy experiencing a decline of almost 6% each. Nextera Energy saw a 2% decline.
Source (CNBC)
