Tuesday’s Top S&P 500 Movers

2 hours 6 minutes ago


Incyte (INCY) shares rose 4.4 percent on Tuesday after the pharmaceutical firm announced the issuance. Restricted Stock Units (RSUs) and stock options for new hires. These employee awards may be a positive indicator of Incyte’s ability to attract and retain talent.

Shares of Corning (GLW) rose 3.8 percent on Tuesday, extending gains posted in the previous session after the specialty glass manufacturer raised its revenue and profit outlook. The firm highlighted strong demand for its optical connectivity products, which have proven useful in powering networks running generative artificial intelligence (AI) applications. The solid two-day performance makes Corning the latest stock to benefit from high expectations for AI-driven growth.

Tesla (TSLA) shares rose 3.7%, marking the tenth consecutive winning day for the electric vehicle (EV) maker’s stock. Tesla started a profit streak early last week after topping second-quarter vehicle delivery estimates. Upcoming catalysts could include Tesla’s earnings report, which will be released after the closing bell on July 23, as well as an event on August 8 when the company is expected to launch its long-awaited Robotaxis. .

Those who refuse

Shares of Albemarly (ALB), the world’s largest lithium producer, then fell 8.8 percent. Baird lowered its price target. on stock. According to analysts, lithium prices remain at the lower end of expectations, which could put pressure on Albemarle’s second-quarter results. Analysts also pointed to the uncertainty surrounding the U.S. presidential election, which is likely to shape future developments on tax credits and other policies related to the EV market. is an important driver of demand.

Shares of Lamb Weston Holdings (LW), which makes frozen French fries and other potato products, fell 4.5 percent amid reports of a class-action lawsuit filed against the company. The complaint alleges that Lamb Weston misled investors by downplaying issues related to the implementation of the new. Enterprise Resource Planning (ERP) system earlier this year.

Michael Bromberg

Tesla shares rise for 10th consecutive session

2 hours 20 minutes ago

Tesla (TSLA) shares rose for a 10th straight session on Tuesday, even as new research showed the automaker’s The share of electric vehicle sales in the US has fallen. Below 50% for the first time in the second quarter.

Kelly Blue Book’s second-quarter EV sales report showed Tesla’s U.S. sales fell 6.3 percent, while overall EV sales hit a record high.

Stephanie Valdez Streaty, director of Cox Automotive Industry Insights, said increased competition “is leading to continued price pressures, helping to gradually elevate EV adoption.”

Companies like General Motors (GM), Ford (F), according to Kelly Blue Book, Hyundai and Kia contributed 330,463 quarterly US EV sales, an 11.3 percent year-over-year increase.

The rally in Tesla shares went into high gear last week after the company. Better-than-expected second-quarter shipment numbers were reported., news that helped push the stock back into positive territory for the year. An update on the rally could also be supported by expectations Tesla’s Robotaxis.Expected in early August.

Tesla closed up 3.7% at $262.33 on Tuesday, making it the top performer in the Nasdaq Composite and the best performer in the S&P 500. The stock has gained 44% during its 10-session winning streak.

Naomi Buchanan

Chipotle continues to retreat from record highs

3 hours 32 minutes ago

Shares of Chipotle Mexican Grill (CMG) fell another 3.4% on Tuesday as the recent 50-for-1 stock split in fast-casual China dampened enthusiasm.

Chipotle’s shares have broken down over a six-week period stability to reach a new record high in mid-June but has declined immediately since then Bull trapa chart pattern that “traps” investors who initiated long positions on a breakout signal and results in losses on a price reversal.

In another sign of weakening upside momentum, Technical differences appeared on the charts last month as the stock climbed to a new high, but Relative Strength Index (RSI) Made a relatively low height.

In fact, the restaurant chain closed under the key shares support At $61.50 above the average on Monday Volumeraising the possibility of further declines in the coming weeks.

Read more here About key share price levels to watch.

Source: TradingView.com.

Timothy Smith

Albemarle fell to its lowest level since 2020.

5 hours 5 minutes ago

Shares of Albemarle (ALB), the world’s largest lithium producer, fell as Baird lowered its price target on the stock, pointing to lower lithium prices.

The stock was down about 8% on Tuesday afternoon, trading at its lowest level since November 2020. Albemarle was the biggest decliner on the S&P 500.

Baird lowered its price outlook on the stock to $127 from $170, while maintaining an overweight rating.

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Baird analyst Ben Callow said lithium prices have been at or below the “subterm end of guidance” of $15 a kilogram so far this year. Callow said Baird believes that will “set up a weak Q2” for Albemarle. The company is set to report second quarter results on July 31.

Callow also pointed to concerns about the impact of this year’s US election on the electric vehicle (EV) market, which directly affects lithium battery demand.

Bill McCall

Nvidia Blackwell continues to raise optimism about demand.

7 hours 3 minutes ago

Nvidia (NVDA) shares Went up again on Tuesday. After KeyBanc analysts raised their price target for the stock, citing better-than-expected demand to power Nvidia’s upcoming Blackwell platform. Artificial Intelligence (AI).

Shares of Nvidia rose about 2 percent, extending gains from earlier in the week Speed ​​calls From UBS and Wolfe Research on AI Chipmaker Potential

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KeyBanc analysts raised their price target for the chipmaker to $180 from $130, which represents a more than 40% upside from the stock’s closing price on Monday. Analysts maintained their “overweight” rating for the stock.

Naomi Buchanan

Slide on BP Shares Impairment Allegations

8 hours 9 minutes ago

BP (B.P) shares fell sharply on Tuesday after Energy Dev said That it expects lower refining margins and an impairment charge of up to $2 billion will hurt its second-quarter results.

The British oil and gas company said on Tuesday that “significantly lower refining margins” are likely to have a negative impact of between $500 million and $700 million when it reports second-quarter earnings later this month.

BP, which expects to take an impairment charge of between $1 billion and $2 billion related to a review of one of its German refineries, is not alone in the industry warning of a potential hit to second-quarter results. Is.

Exxon Mobile (XOM) said on Monday that lower refining margins would cause its second-quarter profit to fall to $1.5 billion from $1.1 billion. The company also expects lower natural gas prices to hit about $300 million to $700 million when it reports earnings later this month.

B.P American Depositary Receipts (ADRs).) were down about 4.5 percent by midday.

Aaron McDaid

Helen of Troy Pullings as a company cuts down on guidance.

9 hours 47 minutes ago

Helen of Troy (All) shares crashed on Tuesday after Reported by a consumer product manufacturer. Weak quarterly revenue and lowered its guidance, as demand for beauty and wellness products declined.

The company behind brands including Revlon, Vicks, and OXO attributed the revenue decline primarily to lower sales of hair accessories, precision hair care products, and humidifiers, as well as fewer reorders from retail customers and technical issues. responsible for the effects of Its Tennessee distribution center.

Helen of Troy “overcame an unusual number of internal and external challenges in the quarter,” CEO Noel Geoffroy said. Geoffroy warned that many of these challenges “became more pronounced toward the end of the first quarter and some continue to evolve.”

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Shares in Helen of Troy fell nearly 30 percent, trading at their lowest level in nearly a decade.

Bill McCall

To see Intel’s price levels as the stock continues to rise

10 hours 15 minutes ago

Intel (INTC), which is on a four-session winning streak, The increase continued on Tuesday. Stocks have risen on chipmaker hopes. stands for advantage With growing interest in Artificial Intelligence (AI) Personal Computers and other hardware trends related to technology.

Despite the lapse of 50 days moving average (MA) Crossing below the 200-day MA is a bearish formation. The cross of death In early May, Intel shares have traded in a narrow range Range with many Volume Spikes from that time.

On Monday, the chipmaker’s stocks Interval Above the top trend line of the trading range on the highest share turnover since June 21, indicating bullish conviction behind the breakout. Moreover, Relative Strength Index (RSI) 70 has moved into overbought territory, confirming strong price momentum.

Amid a sustained rally, investors should monitor four key levels where shares could face overhead. resistance.

Source: TradingView.com.

The first price sits near $35.50, an area on the chart that ties prices close to a minor. The opposite trend A retracement during the stock’s sharp down-trading move in April. If the stock breaks this level, it may move up to retest the key. Horizontal letter Close to $39 which adds prominent September 2023. Swing high With 200 day MA.

A close above this region could see shares rallying to around $42, where they will likely face sellers near the trend line connecting the four price troughs between December 2023 and March of this year. Finally, a long-term rally could see the price revisit $45.50 near a horizontal line that connects several prices. Peaks In a period of five months from November to April.

Tim Smith

Stock futures point to higher open for major indices

11 hours 48 minutes ago

Futures contracts linked to the Dow Jones Industrial Average rose 0.1 percent

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S&P 500 futures rose 0.2 percent

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Nasdaq 100 futures rose 0.3 percent.

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