Shares of major U.S. banks are surging Tuesday, after Bank of America and Citigroup became the latest lenders to report better-than-expected quarterly earnings on the back of a stock trading boom.
Analysts at Oppenheimer and Bank of America reiterate bullish outlooks on the streaming stock ahead of earnings expected later this week.
Shares of Palantir Technologies rose for a second consecutive session Tuesday following news that NATO acquired the analytics software provider's AI-enabled military system.
Shares of chip designer Allegro MicroSystems (NASDAQ:ALGM) fell 13.4% in the pre-market session after ON Semiconductor withdrew its proposal to acquire the company. ON Semiconductor added that there was "no actionable path forward."
Shares of enterprise technology company Hewlett Packard Enterprise (NYSE:HPE) jumped 7.3% in the morning session after activist investor Elliott management announced a stake estimated at $1.5 billion in the company. This move was noteworthy given that activist investors often bring about significant changes in targeted companies, focusing on improving asset monetization, expense efficiency, and stock buybacks.
Shares of streaming video giant Netflix (NASDAQ: NFLX) jumped 5.9% in the afternoon session after the Wall Street Journal reported that the company (NFLX) set a lofty goal to reach a $1 trillion market valuation by 2030. In its annual review, Netflix laid out plans to more than double revenue from $39 billion to $80 billion, signaling aggressive growth expectations likely tied to subscriber expansion, content monetization, and international market expansion.
U.S.-traded shares of Ericsson jumped Tuesday after the Swedish telecommunications firm reported first-quarter profit that topped analysts’ expectations.
Shares of USA Rare Earth surged for a second straight session Tuesday following a report that President Donald Trump intends to stockpile critical deep-sea metals to counter China.
The auto supply chain is vast and spans numerous countries across the world, so any tariffs would have a knock-on impact on production and pricing.
Major U.S. indexes edged higher midday Tuesday as investors digested more earnings reports from big banks.