Advanced Micro Devices, Inc. (NASDAQ:AMD) shares moved higher on Wednesday afternoon as optimism around the company’s artificial intelligence (AI)-related growth outweighed an expected downturn in its embedded business during the fourth quarter.
AMD shares had gained 8.5% at US$106.86 in the early afternoon on Wednesday.
Airbnb Inc (NASDAQ:ABNB) is expected to continue to benefit from the post-pandemic rebound in the travel industry when it hands down its third quarter financial results after the closing bell on Wednesday, November 1, with the accommodation platform expected to report increased revenues and profits.
Airbnb has projected revenue of $3.3 billion to $3.4 billion for 3Q, representing year-over-year growth between 14% and 18% from $2.9 billion in the year-ago quarter.
After October saw a month of financial turmoil, with major global indices taking a beating, long-time stock market observers were quick to delve into the tealeaves or, to be more fair, crawl through historical trends to provide some idea of what's in store for the last two months of the financial year.
"Shocktober," as Jim Reid, macro strategist at Deutsche Bank, dubbed it, saw the S&P 500 falling for a third consecutive month for the first time since the pandemic-induced slump in March 2020, while the FTSE 100, DAX, and Nasdaq were not spared either.
A Missouri jury's verdict that the National Association of Realtors colluded with brokerages to keep agent commissions high created a shockwave throughout real estate stocks earlier this week.
Zillow (NASDAQ:Z) and others plunged on Tuesday after the ruling, which could change how Americans purchase homes, or specifically, how they pay for broker fees.
GSK PLC (LSE:GSK, NYSE:GSK) has received mixed reactions from City analysts despite an objectively strong third-quarter performance and raised financial guidance.
Shore Capital Markets praise the “stellar debut” of respiratory syncytial virus (RSV) vaccine Arexvy, which helped to drive up vaccine sales 13% over targets.
Next PLC (LSE:NXT) is up over 4% on Wednesday after exceeding analyst expectations at its third-quarter update, leaving investors hopeful of an upcoming boost to the wider industry.
Although most shareholders' attention was focused on yet another profit upgrade, analysts at Shore Capital were looking at a potential industry read across.
Analysts at UBS have reduced their forecast for lithium demand due to an anticipated slump in appetite for electric vehicles (EV), according to a research note.
In a report prepared by UBS Securities Australia, analysts lowered their growth expectations for lithium by between three and 12 percentage points through to 2030.
Despite initial enthusiasm that artificial intelligence, specifically generative AI such as ChatGPT, has been the major driving force propelling tech markets this year, analysis from Deutsche Bank suggests a more nuanced picture.
While Nvidia surged 141% post-ChatGPT, contributing to the Nasdaq 100 gaining around 20%, AI hype has not been the pivotal market driver many assumed.
AI-driven capital expenditures are changing the landscape for advertising giants like WPP PLC (LSE:WPP), say analysts at UBS, which cut their forecast for the FTSE 100 company as tech companies pivot their spending priorities.
The downgrade to expectations follows the updates from the sector in recent weeks, which included WPP slashing its revenue outlook for the second time in as many months as US tech clients became more cautious.
IQGeo has announced a Capital Markets Day (CMD) on November 29, which house broker Cavendish says should be an important event for the software business.
The CMD, led by the CEO and senior leaders, will feature product demos and Tier-1 customer endorsements to underscore its integrated solutions' significance to clients.
Citi analysts downgraded Great Portland Estates (LSE:GPOR) to a 'sell' rating, stating that the central London property investment and development company will experience deeper stock weaknesses “before long-term value arises”.
“We estimate that office values fall further and that the stock could overshoot to the downside as negative values materialise, and potentially discount opportunistic equity,” said Citi.
BT stands to emerge as an unlikely winner from the current trends in ESG across the telecoms sector, according to analysts at UBS, though the bank’s 'sell' rating remains unchanged.
In three areas in particular BT has an advantage, says UBS.
BP PLC's (LSE:BP.) earnings miss has wiped £5.5 billion from the FTSE 100 company's valuation in little over a day, and has also given one of the world's most influential investment banks pause for thought.
On Wednesday, JPMorgan weighed in with a downgrade, sending ripples through the market and exacerbating the oil giant's capital markets woes.