Weekly Buzz : Market Climbing after April Red 'Showers,' Will May Bring the Green?
Happy Friday, mooers! Welcome back to Weekly Buzz, where we review the news, performance, and community sentiment of buzzing stocks on moomoo based on search and message volumes of this week! Make sure to comment below to answer the Weekly Topic question for a chance to win an award next week!
-Kevin Travers, moomoo news
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Weekly Buzz
Friday, the market was green. The FOMC no-change decision Wednesday helped start a green wave that Thursday's Apple earnings and Friday's low jobs numbers pushed higher.
For the week, the $S&P 500 Index(.SPX.US$ grew 0.55%, and +1.26% on Friday. The $Dow Jones Industrial Average(.DJI.US$ climbed 1.14% for the week, and +1.18% Friday, and the $Nasdaq Composite Index(.IXIC.US$ climbed 1.43% for the week and 1.99% Friday.
Wednesday, the Federal Open Market Committee left the target Federal Funds Rate unchanged at 5.25%-5.50%. Federal Reserve Chairman Jerome Powell said it's unlikely that policymakers will increase interest rates, even though he acknowledged that bringing inflation down to their 2% target remains uncertain.
"I think it's unlikely that the next policy rate move will be a hike," Powell said in the press conference following the announcement. "We need persuasive evidence that our policy stance is not sufficiently restrictive to bring inflation down to 2%. That's not what I think we're seeing, as we mentioned."
Thursday, Nonfarm productivity rose by 0.3% in Q1 after a 3.5% gain in Q4, below expectations. The U.S. April Consumer Confidence Index came in Tuesday morning at 97, compared to the 104 analysts had expected. Friday also saw the BLS report of Non-farm payrolls, that rose 175,000 in April, down from 303,000 previously and below a consensus that had looked for a 238,000 increase, while the unemployment rate rose to 3.9% from 3.8% previously.
At the end of the week, the $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ fell to 4.81, the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell to 4.50.
Crude oil futures fell continuing a month long decline. Gold and silver futures also continued to fall. Bitcoin reversed its fall on Thursday after pulling back from April halving excitement. The price action climbed slightly, leading to a jump in crypto stocks.
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The market stayed in the green most of the week, awaiting the FOMC decision. Monday, moomoo and Nasdaq held a partnership event at the exchange in Times Square, featuring a talk with KOLs and spokesperson Justin Zachs.
The Internet Content Sector fell the most, with Alphabet pulling back. Last week the firms two stocks climbed when Alphabet announced dividends. Semiconductors climbed in part after $ON Semiconductor (ON.US)$ reported earnings met expectations. $Royal Philips(PHG.US$ rallied on reaching a $1.1 billion settlement over sleep apnea treatments. $Tesla (TSLA.US)$ was the highest gainer on the S&P 500 after the firm said it was working towards approval for full self driving in China.
$Franklin Resources (BEN.US)$ missed with results. $SoFi Technologies(SOFI.US$ fell after its outlook was insufficient. $Trump Media & Technology(DJT.US$ climbed after the company encouraged stock holders to safeguard their shares from short selling. $MicroStrategy(MSTR.US$ reported quarterly losses. $Paramount Global-B(PARA.US$ beat estimates and said that CEO Bob Bakish would step down.
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Tuesday the market was red despite some healthcare earners holding up indexes. The Drug manufacturers sector climbed 1.7% led entirely by $Eli Lilly and Co (LLY.US)$, which rose after a 26% increase in quarterly revenue, aided by demand for its weight-loss drug Mounjaro. The stock was the highest gainer on the S&P 500.
Shares of $3M (MMM.US)$ jumped toward a 14-month high after a profit beat. $GE HealthCare Technologies (GEHC.US)$ fell, pulling down the S&P and Nasdaq 100, after the firm's earnings missed slightly. $Pinterest(PINS.US$ jumped after hours when it announced an earnings beat. $Advanced Micro Devices(AMD.US$ reported a Q1 beat but would join SMCI Wednesday in the red. $Super Micro Computer(SMCI.US$'s sales more than tripled in the fiscal third quarter, but its guidance was not enough. $Amazon(AMZN.US$ rose on earnings.
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Wednesday the market rebounded into the green following the FOMC's no-change rate decision. Weed Stocks exploded overnight after the DEA said it was planning to reschedule cannabis. $Canopy Growth (CGC.US)$ and $Tilray Brands (TLRY.US) returned to earth after jumping upwards of 70%. Shares of $CVS Health (CVS.US)$ tumbled after customers using Medicare hurt its bottom line. $Super Micro Computer (SMCI.US)$ and AMD fell. $Starbucks (SBUX.US)$ fell after missing profits, and Q1 store visits slowed down.
Meanwhile, $3M (MMM.US)$, $Johnson & Johnson (JNJ.US)$, and $Amazon (AMZN.US)$ held up the Dow. JNJ said it was reaching a talcum powder cancer settlement agreement. $New York Community Bancorp(NYCB.US$ shares rose after new management outlined strategic plans. $MasterCard(MA.US$ fell after it reported the value of its transactions slowed year over year. $Pfizer(PFE.US$ fell after a revenue miss. $Qualcomm (QCOM.US)$ climbed after it reported earnings. It would help pull up the Nasdaq 100 Thursday.
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Thursday, the market reversed its fall. 9770 equities in the climbing by the end of the day compared to just 3560 in the red. The much-awaited mag seven giant Apple breathed in some further gains after the close, climbing after the firm's Q2 reported earnings beat expectations despite a drop in revenue from the last quarter. The firm said it would repurchase an additional US$110 billion in stocks, raising quarterly dividends.
$Coinbase(COIN.US$ fell after earnings disappointed. $Carvana (CVNA.US)$ climbed after an unexpected swing to profit. $Etsy Inc (ETSY.US)$ was the largest decliner on the S&P 500 after disappointing earnings. $Peloton Interactive(PTON.US$ dropped after CEO Barry McCarthy stepped and the company also announced a 15% cut in its global workforce.
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Friday, $Amgen (AMGN.US)$'s stock soared toward its biggest gain in 15 years, adding more than 220 points to the Dow's price and leading the S&P and Nasdaq 100 after the drug manufacturer posted adjusted earnings above expectations and executives said they are "very encouraged" by preliminary data from a trial of an injectable weight-loss drug 'MariTide.'
Apple climbed on results. $Cloudflare (NET.US)$ dropped after positive results, with an unchanged 2024 outlook that disappointed most investors. $Expedia (EXPE.US)$ slipped after the company issued lower-than-expected guidance, while its Vrbo segment was a loss leader.
Anyway, let's dive into the weekly buzzing stock list of this week:
TSLA gained as much as 18.1% to a $198.87 intraday high after the EV giant received official approval Monday from Beijing to introduce its most advanced driver-assistance features in the company's cars, according to The Wall Street Journal. It's a "major moment" for Tesla, wrote Wedbush analyst Dan Ives in a Monday report. The stock pulled back later in the week after more details about staff layoffs came out.
@8baller: Muskrat needs to announce a plan for the charging business right now!
A combination of a seasonal lull for chip makers, rising earnings estimates and a price decline could make for a good Nvidia setup, Philip van Doorn from MarketWatch wrote this past weekend.
'So far this year, the $PHLX Semiconductor Index(.SOX.US$ has increased 8.7%, but it has dropped 7.7% in April. Shares of industry star Nvidia Inc. have declined 12%. Nvidia's stock has risen 61% so far in 2024, after more than tripling in 2023. '
@103815312: take profit for those who bought, and start buying put or short, thanks me later, goodnight
SoFi on Monday reported a profit beat for the latest quarter while boosting its full-year outlook, but shares were falling after the company came up short with its outlook for the current quarter. For the second quarter, SoFi models adjusted net revenue of $555 million to $565 million, while analysts were looking for $581 million. The company also anticipates $115 million to $125 million in (Ebitda), whereas the FactSet consensus was for $135 million.
The financial-technology company reported first-quarter net income of $22.5 million, or 2 cents a share, whereas it recorded a net loss of $44.4 million, or 5 cents a share, in the year-earlier period. Analysts tracked by FactSet were modeling per-share earnings of 1 cent.
@Shroomie: why are we dumping today lol
SMCI's sales more than tripled in the fiscal third quarter as the company's artificial intelligence-fueled boom continued. The firm reported a profit of $402.5 million Tuesday, or $6.56 a share, in the quarter that ended March 31, compared with a profit of $85.8 million, or $1.53 a share, a year earlier. Analysts polled by FactSet expected a per-share profit of $5.42.
@R30R: Beautifully setting up for a monster run up like it did earlier this year.
AMD stock was falling early Wednesday after disappointing investors on guidance for sales of processors used in data centers. It could be a warning for Nvidia. Both semiconductor makers have benefited from the excitement around artificial intelligence and enjoy strong valuations. That's based on high expectations for future growth as companies invest in more computing power to run AI software.
@103966719 : major cause of insanity and failure.
Nio's shares rose sharply Thursday in Hong Kong after the Chinese electric-vehicle maker's deliveries more than doubled in April. Shares of the Shanghai-based company rose 23% to 43.85 Hong Kong dollars (US$5.61), on track for their largest one-day gain in more than two years. Its ADRs closed 12% higher in U.S. trading overnight.
Before Thursday's rally, NIO shares had roughly halved over the first four months of the year as the price war in China's EV market intensified.
@TrendTrader: Great movement on this swing
Bitcoin and other cryptocurrencies rallied Friday after Apple earnings pulled the market green, according to Jack Denton from Barron's. 'Bitcoin hit a record high near $74,000 in mid-March amid a surge of interest from new spot Bitcoin exchange-traded funds (ETFs), but prices have since languished, tumbling from $64,000 earlier this week. Bitcoin shows signs of weakness from a technical market perspective, with prices significantly below the 50-day moving average near $66,000.'
@Nakamoto San: Bears and spammers got wiped out.
Last week, AMC Entertainment said its box-office results are still suffering from the effects of last year's Hollywood strikes but Wall Street analysts remain cautiously optimistic about the movie-theater stock.
Late last Friday, AMC offered preliminary first-quarter results ahead of the full release scheduled for May 8. It expects a loss of 62 cents a share in the quarter that ended in March, while the consensus call among analysts tracked by FactSet was for 79 cents. Revenue is expected to be $951.4 million, slightly lower than last year's level but beating analyst expectations of $881 million.
@MindOverMatter : What's your thoughts on this week's price action
Amazon shares are trading higher Wednesday after the company reported better-than-expected financial results of 98 cents on revenue of $142B. Multiple analysts also raised price targets on the stock following the print.
North American sales were up 12% year-over-year, while International sales climbed 10% year-over-year. Amazon Web Services sales were up 17% year-over-year. The company noted that AWS is now a $100-billion annual revenue run rate business.
@103353263 : All time high coming ? lol
Moomoo news' own @Luzi Ann Santos wrote that Apple shares climbed more than 6% Friday after the iPhone maker announced a record $110 billion share buyback, boosted its dividend and reported better-than-expected quarterly financial results Thursday night. The gains on the stock fueled the heaviest trading in options for the stock in at least two weeks. Read more>>>
@dwarrior: lol… sell the news and buy the rumours? so is ipad release is the news or rumours?
Thanks for reading!
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Awards
Congrats to the following mooers whose comments were selected as the top comments last week!
@HuatLady @HuatEver @SpyderCall @Gilley @ZnWC @隨遇而安 @102362254 @mr_cashcow @Nitrite (thank you for your kind words, it takes hours to put these posts together but I want to help the moo community as much as I can!)
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Weekly Topic
Well, Apple earnings came and went. This weekend Berkshire Hathaway is reporting and celebrating with an earnings event that resembles a carnival, complete with a fun run. What will you watch for from $Berkshire Hathaway-B(BRK.B.US$?
Comment below and share your ideas! We will select up to 15 TOP COMMENTS for a reward next week. Winners will get 200 points by next week, with which you can exchange gifts at Reward Club.
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102362254 : There are some key points to watch for. First, the eagerly awaited earnings report, especially after Charlie Munger's passing, may hint at recovery from last year's losses. Second, Buffett's market insights that offer guidance on investments. Attention will also be on the business outlook, given Berkshire's global influence. This earnings event combines financial discussions with an engaging and fun atmosphere.
103057627 : what steps the company taking next. be cash rich?
mr_cashcow : A week flew by so fast, keeping a close eyes on how Berkshire rebalance their portfolio with them trimming apple and acquiring SiriusXM had me scratching my head
Thanks again for the weekly summary and congrats to all comments who got selected
MindOverMatter : $AMC Entertainment (AMC.US)$
bottoms in weekly RSI looks juicy feast your eyes on the weekly timeframe.Was expecting 3 white soldiers but I'm not mad at all with that candle that printed.
HuatLady : Berkshire Hathaway yearly earnings meeting is always an exciting event. Besides just looking at the earnings, I am curious about what Warren Buffet thinks about the economy at this moment, how he plans to invest his money and if there are any new stocks he's adding or getting rid of in
Berkshire Hathaway's portfolio.
Lost_y : Is $Arm Holdings (ARM.US)$ a good investment at the current price?
With a surge in its stock price by +4.10% as of late April 2024, ARM Holdings pl has been making waves in the financial markets. This British semiconductor and software design company, known for its ARM architecture used in a majority of smartphones, is beginning to be noticed by savvy investors for its robust market position and potential growth trajectory in the burgeoning tech industry.
ARM Holdings ole has recently announced its financial results for the
second quarter of fiscal year 2024, drawing attention to its strategic initiatives and financial health. Investors and tech enthusiasts alike are eager to understand what this means for their portfolios and the tech market as a whole. (ARM's Market Position and Competitive Edge The tech industry is fiercely competitive, yet ARM has managed to carve out a significant niche for itself. Its licensing model, where it sells IP cores to chip manufacturers, gives it an immense advantage in scalability and innovation, allowing for rapid adaptation to market demands. This strategic move has
not only bolstered its market presence but has also fostered a plethora of
partnerships, further solidifying its standing in the tech ecosystem.
The company's recent earnings report has showcased a robust financial framework, marked by increased revenae streams and marked by increased revenue streams and strategic cost management. Investors are particularly interested in the company's profitability metrics and balance sheet strength, which signify its ability to weather economic turbulence and invest in future growth opportunities.
The company's focus on cutting-edge semiconductor design positions it at the forefront of the Internet of Things (loT) and artificial intelligence (Al) revolutions.
(not a financial advice, just for educational purpose if it helps)
HuatEver : Berkshire Hathaway’s annual meeting is important. I’m interested in their insurance business and cash reserves. Last quarter, their operating earnings shot up, primarily driven by gains in its business. I will be on the lookout for any updates. Also, I am eager to hear about their cash reserves. Berkshire has historically held substantial cash reserves, so any changes would be significant.
ZnWC : Buffet's favourite stocks - Apple, Bank of America, American Express, and Coca-Cola combined account for more than two-thirds of the entire portfolio. Buffett and his team have also recently bought significant stakes in Occidental Petroleum and Liberty Media's Sirius XM tracking stock, Liberty SiriusXM. The former has grown into a substantial position in the portfolio, especially when you account for Berkshire's preferred shares of Occidental.
Some may comment that Buffet investment strategy is conservative but what's important is it works. The portfolio is expected to outperform S&P500 index. I am concerned about the 13% reduction stake in Apple. Although the reason given for the selling is to reduce tax, it makes us wonder if there is any underlying reason for Apple's outlook.
This is the first shareholder meeting after the death of his long time friend and business partner, Charlie Munger. Buffet's investment strategy is for the long term but time is not on his side. I am wondering how he and his team think long term. I am looking forward to learn some wisdom from his letter issue to shareholders after the meeting.
R30R : Great synopsis.
