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  ·2023-11-16
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  Post-Bell | Dow Gains 163 Points on Easing Inflation; Cisco, Palo Alto Networks Sink on Weaker Guidance
  U.S. stocks closed slightly higher on Wednesday, as fresh inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates, while retail stocks were boosted by an upbea
  Post-Bell | Dow Gains 163 Points on Easing Inflation; Cisco, Palo Alto Networks Sink on Weaker Guidance
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Investors were concerned after Fortinet Inc. gave a disappointing outlook for revenue earlier this month, thinking the fallout would bleed into Palo Alto. Fortinet, CrowdStrike Holdings Inc. and <a href=\"https://laohu8.com/S/ZS\">Zscaler Inc.</a> all fell after Palo Alto reported earnings. </p><p><a href=\"https://laohu8.com/S/TGT\">Target </a> reported third-quarter adjusted earnings of $2.10 a share, beating analysts’ estimates of $1.47, and shares of the retailer jumped 18%. Same-store sales fell 4.9% in the quarter but that was less than analysts’ forecasts.</p><p><a href=\"https://laohu8.com/S/VFC\">VF Corp. </a> rose 14% to $17.77 after J.P. Morgan upgraded the stock to Neutral from Underweight and the price target on shares of the parent company of Vans and The North Face was raised to $19 from $15.</p><p>Berkshire bought 9.7 million shares of <a href=\"https://laohu8.com/S/SIRI\">Sirius XM </a> during the quarter. Shares of broadcasting company Sirius rose 6.1%. The changes to the Berkshire portfolio were disclosed in a 13F filing posted to the Securities and Exchange Commission’s website late Tuesday.</p><p>$TJX Cos. ( TJX )$ closed down 3.3% after the off-price retailer reported better-than-expected third-quarter earnings but issued a profit forecast for the fourth quarter that fell short of expectations.</p><p>U.S.-listed shares of <a href=\"https://laohu8.com/S/JD\">JD.com </a> rose 7% after the Chinese e-commerce company reported third-quarter earnings and revenue that beat analysts’ estimates.</p><p><a href=\"https://laohu8.com/S/CHGG\">Chegg </a> rose 18% after the educational software and services company announced a $150 million accelerated share repurchase with Morgan Stanley Bank N.A.</p><p><a href=\"https://laohu8.com/S/DIS\">Walt Disney </a> closed up 3.2% on a report that activist investment firm ValueAct Capital has built a “significant” stake in the entertainment company.</p><p><a href=\"https://laohu8.com/S/XPEV\">XPeng </a>, the Chinese electric-vehicle maker, reported a third-quarter loss that was wider than a year earlier and revenue that came up short of estimates. The company said it expects fourth-quarter deliveries of 59,500 to 63,500 units, better than consensus, and revenue to increase 86.1% to 99.3% from a year earlier. American depositary receipts of XPeng were up 2.3%.</p><p>Goodyear Tire &amp; Rubber (GT) was up 2.8% after the company said it was exploring strategic alternatives for its chemical business, the Dunlop brand, and its off-the-road equipment tire business.</p><p><a href=\"https://laohu8.com/S/NVDA\">Nvidia </a> closed higher Tuesday, rising 2.1%, to record its tenth straight gain, matching a record set back on Dec. 27, 2016. It snapped that streak on Wednesday when shares of the graphics-chip maker closed down 1.6%.</p><p><a href=\"https://laohu8.com/S/AAP\">Advance Auto Parts </a> fell 4.7% after the auto parts retailer posted a third-quarter loss of 82 cents a share versus Wall Street forecasts for profit of $1.44. The company also said it was initiating separate sale processes for its Worldpac business and its Canada operations and said it launched a cost-cutting plan of $150 million.</p><h2 id=\"id_3479401677\">Market News</h2><h3 id=\"id_3292040907\" style=\"text-align: start;\">SpaceX Gets FAA Approval for Do-Over Starship Launch</h3><p>SpaceX received approval for the second launch of its groundbreaking Starship rocket, ending an almost seven-month hiatus and inching Elon Musk closer to his goal of sending humans to the moon and beyond.</p><p style=\"text-align: start;\">The US Federal Aviation Administration reinstated SpaceX’s Starship launch license, the agency said in a statement on Wednesday. It noted that “SpaceX met all safety, environmental, policy and financial responsibility requirements.” SpaceX applied for and received authorization for one flight, the agency added.</p><h3 id=\"id_1138014146\">Microsoft Unveils Its First Custom-Designed AI, Cloud Chips</h3><p><a href=\"https://laohu8.com/S/MSFT\">Microsoft Corp.</a> unveiled its first homegrown artificial intelligence chip and cloud-computing processor in an attempt to take more control of its technology and ramp up its offerings in the increasingly competitive market for AI computing. The company also announced new software that lets clients design their own AI assistants.</p><h3 id=\"id_3980710\">Druckenmiller, Soros Cut Stakes in Nvidia After Share Surge</h3><p>Druckenmiller’s Duquesne Family Office cut its <a href=\"https://laohu8.com/S/NVDA\">Nvidia Corp.</a> stake in the quarter ended Sept. 30, according to its 13F filing, the first time this year the New York-based firm disclosed a drop in its holdings of the major beneficiary of increased AI interest.</p><p>George Soros’s family office and a division of multifamily office Stonehage Fleming also offloaded the stock in the period. Nvidia’s shares have surged almost 240% this year, making it the S&amp;P 500 Index’s top performer.</p><h3 id=\"id_2191010859\">SEC Defers Decisions on Spot Bitcoin ETF, Grayscale Ether Futures Filings</h3><p>The US Securities and Exchange Commission yet again has deferred making a decision on whether to approve the first US exchange-traded fund that invests directly in Bitcoin, despite speculation building that approval is just around the corner.</p><p>The primary US securities regulator deferred on a filing from Hashdex to convert its existing Bitcoin futures ETF into a spot fund, according to a document posted on its website Wednesday.</p><h3 id=\"id_374018495\">Intel Upgraded By Mizuho Securities As PC, Data Center Improve</h3><p>Intel was upgraded by investment firm Mizuho Securities on Wednesday as it sees improvements in the PC and data center markets.</p><p>Analyst Vijay Rakesh raised his rating on Intel shares to buy from neutral and bumped his price target to $50 from $37, noting that the company is likely lining up &#34;significant&#34; new server products and a foundry customer in the next six months.</p><p>Rakesh added that he thinks the product roadmap for 2024 for computing and data center is &#34;better&#34; than Intel&#39;s peers, as well as what the Pat Gelsinger-led company has done historically. Additionally, Rakesh thinks the PC and data center markets are due for an &#34;upcycle&#34; in 2024.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Post-Bell | Dow Gains 163 Points on Easing Inflation; Cisco, Palo Alto Networks Sink on Weaker Guidance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPost-Bell | Dow Gains 163 Points on Easing Inflation; Cisco, Palo Alto Networks Sink on Weaker Guidance\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-11-16 07:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks closed slightly higher on Wednesday, as fresh inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d190965f6d303ae86481a0c07cda403\" title=\"\" tg-width=\"1080\" tg-height=\"1920\"/></p><h2 id=\"id_966889051\">Market Snapshot</h2><p>The Dow Jones Industrial Average rose 163.51 points, or 0.47%, to 34,991.21, the S&amp;P 500 rose 7.18 points, or 0.16%, to 4,502.88 and the Nasdaq Composite rose 9.45 points, or 0.07%, to 14,103.84.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e3cfa1774f074808d9a93691eaa3cf5e\" title=\"\" tg-width=\"951\" tg-height=\"153\"/></p><h2 id=\"id_3350154466\">Market Movers</h2><p><a href=\"https://laohu8.com/S/CSCO\">Cisco Systems</a> cut its full-year revenue and profit forecasts on Wednesday in a sign that demand for its networking equipment was slowing, sending the company&#39;s shares down 11% after market.</p><p>Cybersecurity firm <a href=\"https://laohu8.com/S/PANW\">Palo Alto Networks</a> Inc. tumbled after missing Wall Street estimates for billings in its fiscal first quarter and lowering its estimates for the full year. Investors were concerned after Fortinet Inc. gave a disappointing outlook for revenue earlier this month, thinking the fallout would bleed into Palo Alto. Fortinet, CrowdStrike Holdings Inc. and <a href=\"https://laohu8.com/S/ZS\">Zscaler Inc.</a> all fell after Palo Alto reported earnings. </p><p><a href=\"https://laohu8.com/S/TGT\">Target </a> reported third-quarter adjusted earnings of $2.10 a share, beating analysts’ estimates of $1.47, and shares of the retailer jumped 18%. Same-store sales fell 4.9% in the quarter but that was less than analysts’ forecasts.</p><p><a href=\"https://laohu8.com/S/VFC\">VF Corp. </a> rose 14% to $17.77 after J.P. Morgan upgraded the stock to Neutral from Underweight and the price target on shares of the parent company of Vans and The North Face was raised to $19 from $15.</p><p>Berkshire bought 9.7 million shares of <a href=\"https://laohu8.com/S/SIRI\">Sirius XM </a> during the quarter. Shares of broadcasting company Sirius rose 6.1%. The changes to the Berkshire portfolio were disclosed in a 13F filing posted to the Securities and Exchange Commission’s website late Tuesday.</p><p>$TJX Cos. ( TJX )$ closed down 3.3% after the off-price retailer reported better-than-expected third-quarter earnings but issued a profit forecast for the fourth quarter that fell short of expectations.</p><p>U.S.-listed shares of <a href=\"https://laohu8.com/S/JD\">JD.com </a> rose 7% after the Chinese e-commerce company reported third-quarter earnings and revenue that beat analysts’ estimates.</p><p><a href=\"https://laohu8.com/S/CHGG\">Chegg </a> rose 18% after the educational software and services company announced a $150 million accelerated share repurchase with Morgan Stanley Bank N.A.</p><p><a href=\"https://laohu8.com/S/DIS\">Walt Disney </a> closed up 3.2% on a report that activist investment firm ValueAct Capital has built a “significant” stake in the entertainment company.</p><p><a href=\"https://laohu8.com/S/XPEV\">XPeng </a>, the Chinese electric-vehicle maker, reported a third-quarter loss that was wider than a year earlier and revenue that came up short of estimates. The company said it expects fourth-quarter deliveries of 59,500 to 63,500 units, better than consensus, and revenue to increase 86.1% to 99.3% from a year earlier. American depositary receipts of XPeng were up 2.3%.</p><p>Goodyear Tire &amp; Rubber (GT) was up 2.8% after the company said it was exploring strategic alternatives for its chemical business, the Dunlop brand, and its off-the-road equipment tire business.</p><p><a href=\"https://laohu8.com/S/NVDA\">Nvidia </a> closed higher Tuesday, rising 2.1%, to record its tenth straight gain, matching a record set back on Dec. 27, 2016. It snapped that streak on Wednesday when shares of the graphics-chip maker closed down 1.6%.</p><p><a href=\"https://laohu8.com/S/AAP\">Advance Auto Parts </a> fell 4.7% after the auto parts retailer posted a third-quarter loss of 82 cents a share versus Wall Street forecasts for profit of $1.44. The company also said it was initiating separate sale processes for its Worldpac business and its Canada operations and said it launched a cost-cutting plan of $150 million.</p><h2 id=\"id_3479401677\">Market News</h2><h3 id=\"id_3292040907\" style=\"text-align: start;\">SpaceX Gets FAA Approval for Do-Over Starship Launch</h3><p>SpaceX received approval for the second launch of its groundbreaking Starship rocket, ending an almost seven-month hiatus and inching Elon Musk closer to his goal of sending humans to the moon and beyond.</p><p style=\"text-align: start;\">The US Federal Aviation Administration reinstated SpaceX’s Starship launch license, the agency said in a statement on Wednesday. It noted that “SpaceX met all safety, environmental, policy and financial responsibility requirements.” SpaceX applied for and received authorization for one flight, the agency added.</p><h3 id=\"id_1138014146\">Microsoft Unveils Its First Custom-Designed AI, Cloud Chips</h3><p><a href=\"https://laohu8.com/S/MSFT\">Microsoft Corp.</a> unveiled its first homegrown artificial intelligence chip and cloud-computing processor in an attempt to take more control of its technology and ramp up its offerings in the increasingly competitive market for AI computing. The company also announced new software that lets clients design their own AI assistants.</p><h3 id=\"id_3980710\">Druckenmiller, Soros Cut Stakes in Nvidia After Share Surge</h3><p>Druckenmiller’s Duquesne Family Office cut its <a href=\"https://laohu8.com/S/NVDA\">Nvidia Corp.</a> stake in the quarter ended Sept. 30, according to its 13F filing, the first time this year the New York-based firm disclosed a drop in its holdings of the major beneficiary of increased AI interest.</p><p>George Soros’s family office and a division of multifamily office Stonehage Fleming also offloaded the stock in the period. Nvidia’s shares have surged almost 240% this year, making it the S&amp;P 500 Index’s top performer.</p><h3 id=\"id_2191010859\">SEC Defers Decisions on Spot Bitcoin ETF, Grayscale Ether Futures Filings</h3><p>The US Securities and Exchange Commission yet again has deferred making a decision on whether to approve the first US exchange-traded fund that invests directly in Bitcoin, despite speculation building that approval is just around the corner.</p><p>The primary US securities regulator deferred on a filing from Hashdex to convert its existing Bitcoin futures ETF into a spot fund, according to a document posted on its website Wednesday.</p><h3 id=\"id_374018495\">Intel Upgraded By Mizuho Securities As PC, Data Center Improve</h3><p>Intel was upgraded by investment firm Mizuho Securities on Wednesday as it sees improvements in the PC and data center markets.</p><p>Analyst Vijay Rakesh raised his rating on Intel shares to buy from neutral and bumped his price target to $50 from $37, noting that the company is likely lining up &#34;significant&#34; new server products and a foundry customer in the next six months.</p><p>Rakesh added that he thinks the product roadmap for 2024 for computing and data center is &#34;better&#34; than Intel&#39;s peers, as well as what the Pat Gelsinger-led company has done historically. Additionally, Rakesh thinks the PC and data center markets are due for an &#34;upcycle&#34; in 2024.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108648923","content_text":"U.S. stocks closed slightly higher on Wednesday, as fresh inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target.Market SnapshotThe Dow Jones Industrial Average rose 163.51 points, or 0.47%, to 34,991.21, the S&P 500 rose 7.18 points, or 0.16%, to 4,502.88 and the Nasdaq Composite rose 9.45 points, or 0.07%, to 14,103.84.Market MoversCisco Systems cut its full-year revenue and profit forecasts on Wednesday in a sign that demand for its networking equipment was slowing, sending the company's shares down 11% after market.Cybersecurity firm Palo Alto Networks Inc. tumbled after missing Wall Street estimates for billings in its fiscal first quarter and lowering its estimates for the full year. Investors were concerned after Fortinet Inc. gave a disappointing outlook for revenue earlier this month, thinking the fallout would bleed into Palo Alto. Fortinet, CrowdStrike Holdings Inc. and Zscaler Inc. all fell after Palo Alto reported earnings. Target  reported third-quarter adjusted earnings of $2.10 a share, beating analysts’ estimates of $1.47, and shares of the retailer jumped 18%. Same-store sales fell 4.9% in the quarter but that was less than analysts’ forecasts.VF Corp.  rose 14% to $17.77 after J.P. Morgan upgraded the stock to Neutral from Underweight and the price target on shares of the parent company of Vans and The North Face was raised to $19 from $15.Berkshire bought 9.7 million shares of Sirius XM  during the quarter. Shares of broadcasting company Sirius rose 6.1%. The changes to the Berkshire portfolio were disclosed in a 13F filing posted to the Securities and Exchange Commission’s website late Tuesday.$TJX Cos. ( TJX )$ closed down 3.3% after the off-price retailer reported better-than-expected third-quarter earnings but issued a profit forecast for the fourth quarter that fell short of expectations.U.S.-listed shares of JD.com  rose 7% after the Chinese e-commerce company reported third-quarter earnings and revenue that beat analysts’ estimates.Chegg  rose 18% after the educational software and services company announced a $150 million accelerated share repurchase with Morgan Stanley Bank N.A.Walt Disney  closed up 3.2% on a report that activist investment firm ValueAct Capital has built a “significant” stake in the entertainment company.XPeng , the Chinese electric-vehicle maker, reported a third-quarter loss that was wider than a year earlier and revenue that came up short of estimates. The company said it expects fourth-quarter deliveries of 59,500 to 63,500 units, better than consensus, and revenue to increase 86.1% to 99.3% from a year earlier. American depositary receipts of XPeng were up 2.3%.Goodyear Tire & Rubber (GT) was up 2.8% after the company said it was exploring strategic alternatives for its chemical business, the Dunlop brand, and its off-the-road equipment tire business.Nvidia  closed higher Tuesday, rising 2.1%, to record its tenth straight gain, matching a record set back on Dec. 27, 2016. It snapped that streak on Wednesday when shares of the graphics-chip maker closed down 1.6%.Advance Auto Parts  fell 4.7% after the auto parts retailer posted a third-quarter loss of 82 cents a share versus Wall Street forecasts for profit of $1.44. The company also said it was initiating separate sale processes for its Worldpac business and its Canada operations and said it launched a cost-cutting plan of $150 million.Market NewsSpaceX Gets FAA Approval for Do-Over Starship LaunchSpaceX received approval for the second launch of its groundbreaking Starship rocket, ending an almost seven-month hiatus and inching Elon Musk closer to his goal of sending humans to the moon and beyond.The US Federal Aviation Administration reinstated SpaceX’s Starship launch license, the agency said in a statement on Wednesday. It noted that “SpaceX met all safety, environmental, policy and financial responsibility requirements.” SpaceX applied for and received authorization for one flight, the agency added.Microsoft Unveils Its First Custom-Designed AI, Cloud ChipsMicrosoft Corp. unveiled its first homegrown artificial intelligence chip and cloud-computing processor in an attempt to take more control of its technology and ramp up its offerings in the increasingly competitive market for AI computing. The company also announced new software that lets clients design their own AI assistants.Druckenmiller, Soros Cut Stakes in Nvidia After Share SurgeDruckenmiller’s Duquesne Family Office cut its Nvidia Corp. stake in the quarter ended Sept. 30, according to its 13F filing, the first time this year the New York-based firm disclosed a drop in its holdings of the major beneficiary of increased AI interest.George Soros’s family office and a division of multifamily office Stonehage Fleming also offloaded the stock in the period. Nvidia’s shares have surged almost 240% this year, making it the S&P 500 Index’s top performer.SEC Defers Decisions on Spot Bitcoin ETF, Grayscale Ether Futures FilingsThe US Securities and Exchange Commission yet again has deferred making a decision on whether to approve the first US exchange-traded fund that invests directly in Bitcoin, despite speculation building that approval is just around the corner.The primary US securities regulator deferred on a filing from Hashdex to convert its existing Bitcoin futures ETF into a spot fund, according to a document posted on its website Wednesday.Intel Upgraded By Mizuho Securities As PC, Data Center ImproveIntel was upgraded by investment firm Mizuho Securities on Wednesday as it sees improvements in the PC and data center markets.Analyst Vijay Rakesh raised his rating on Intel shares to buy from neutral and bumped his price target to $50 from $37, noting that the company is likely lining up \"significant\" new server products and a foundry customer in the next six months.Rakesh added that he thinks the product roadmap for 2024 for computing and data center is \"better\" than Intel's peers, as well as what the Pat Gelsinger-led company has done historically. Additionally, Rakesh thinks the PC and data center markets are due for an \"upcycle\" in 2024.","news_type":1},"isVote":1,"tweetType":1,"viewCount":102,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":true}