This week, which stocks dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.
Below are the top 10 US stock gainers with a market cap above $6 billion for the week ended Nov. 22:
Super Micro's Stock Had a Historic Week - but It's Still 70% off Its Highs
SUPER MICRO COMPUTER INC's investors have gotten some relief this week, as the beleaguered server maker said it has a new auditor and has submitted a plan to the Nasdaq for how it intends to get current with filing requirements.
That's translated into a 78% weekly surge in Super Micro's stock, the biggest weekly gain on record. That increase is more than double the prior weekly record of 33.5%, which was seen in the week that ended May 26, 2023.
Still, the stock is off from its former glory, down 72% from its March closing high. At one point, Super Micro shares were up more than 300% on the year, but now they're up only 17% in 2024, after recently clawing back into positive territory.
Michael Saylor Reveals MicroStrategy Is 'Making $500M A Day' With Bitcoin
MicroStrategy co-founder Michael Saylor has revealed that the company is minting $500 million a day as Bitcoin inches closer to $100,000 for the first time in its history.
Saylor, who has been all-in on Bitcoin for years now, has revealed an insane statistic – MicroStrategy's holdings of the top cryptocurrency have appreciated by as much as $5.4 billion over the last two weeks.
In an interview with CNBC, Saylor broke down MicroStrategy's gains, saying, "We're making $500 million a day. I'm staring at my screen and we're selling dollar bills for $3, sometimes a million times a minute."
Morgan Stanley Maintains Unity Software With Buy Rating, Maintains Target Price $24
On Wednesday, white-shoe investment bank Morgan Stanley published a new note on Unity Software Inc. authored by Matthew Cost. The pundit reiterated his overweight (buy) recommendation on the stock and his $24-per-share price target.
Cost's latest take on the highly specialized tech company came after a series of investor meetings with CEO Matt Bromberg. According to reports, Bromberg went into some detail about a new advertising model slated to debut in 2025 that will positively affect the company's "grow solutions" business.
Additionally, Unity is hard at work developing a neural network that will take advantage of the copious data Unity has been able to compile. Finally, management aims to streamline its varied advertising efforts into one stack, part of an overall move to rationalize its operations and save costs.
Snowflake Shares Surge on Rosy Forecast, AI Deal with Anthropic
Snowflake's shares surged more than 28% on Thursday after the data analytics provider raised its annual product revenue forecast, signaling growing demand for cloud-based data storage and analytics.
Snowflake announced a partnership with Anthropic on Wednesday, which will allow its customers to enhance their AI applications using Anthropic's large language models on Snowflake's cloud-based data platforms.
The company expects product revenue of $3.43 billion for 2025, compared with its previous forecast of $3.36 billion.
Williams-Sonoma’s Stock Rockets to All-Time High as Market-Share Gains Fuel Earnings Beat
Williams-Sonoma’s stock rose nearly 28% to an all-time high on Wednesday after the home-goods retailer reported improved sales and market-share gains, as well as stronger-than-expected profit, despite a “difficult environment.”
Williams-Sonoma said its performance exceeded its projections as its operating profit margin rose to 17.8% from 17% last year. It also raised its operating margin outlook by 40 basis points to a range of 17.8% to 18.2% for the year.
The company said its board approved a new $1 billion stock-buyback plan in September.
Comments