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Wall Street Journal
12 minutes ago
- Wall Street Journal
U.S. Stock Futures Rise But Asia, European Markets Fall on Rate Cut Uncertainty
U.S. stock futures rose after Nasdaq closed at another new record Thursday following Google-parent Alphabet's earnings and despite continued trade tensions and weaker-than-expected housing data. European stocks fell in line with Asia on uncertainty over Fed rate cuts. —U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average climbed 0.1%. The S&P 500 added less than 0.1% Thursday for its fourth consecutive record, the longest such streak since December while the tech-heavy Nasdaq gained 0.2% to hit its 12th record of July.
Yahoo
28 minutes ago
- Yahoo
S&P 500 Gains and Losses Today: Lamb Weston Stock Soars as Volumes Grow; Enphase Energy Falters
Major U.S. equity indexes rose on Wednesday after President Donald Trump announced a trade agreement with Japan as second-quarter earnings season rolled on. The S&P 500 jumped 0.8% to close at an all-time high for the third consecutive day. The Nasdaq advanced 0.6%, returning to record territory after slipping yesterday. The Dow surged more than 500 points, adding 1.1% and ending just below its record closing level reached in December. Shares of Lamb Weston Holdings (LW), a provider of frozen french fries and other potato products, soared 16.3% to notch the S&P 500's top performance. The company topped sales and profit estimates for its fiscal fourth quarter, with strength across all channels and geographies helping drive 8% year-over-year volume growth. Lamb Weston also said it would lay off 4% of its workforce, part of a plan it expects to save it $250 million a year by the end of its 2028 fiscal year. GE Vernova (GEV) shares also moved higher in the wake of strong quarterly financial results, jumping 14.6% on Wednesday. The energy technology firm, which completed its spinoff from General Electric a little over a year ago, reported better-than-expected second-quarter sales and profits and said it now expects the full-year earnings impact from tariffs and inflation to come in near the low end of its previous forecasts. Baker Hughes (BKR) also exceeded forecasts with its second-quarter revenue and adjusted net income, and shares of the oilfield services provider popped 11.7%. Although the company struck a cautious tone on upstream spending as producers navigate volatility in commodity prices, Baker Hughes benefited from strong data center related orders. Enphase Energy (ENPH) suffered the biggest decline in the S&P 500 on Wednesday, plunging 14.2%. While the solar microinverter and battery specialist surpassed second-quarter sales and profit estimates, Enphase issued weaker-than-expected profit guidance for the third quarter. The company noted its gross margins were pressured by U.S. tariff policies and indicated that the expiration of clean-energy tax credits would likely constrict residential solar demand. Shares of the financial technology firm Fiserv (FI) sank 13.9%. Like Enphase, Fiserv reported quarterly sales and profit that came in ahead of estimates, but a reduction in its full-year profit outlook weighed on the stock. Although the fintech announced a multiyear deal with Canada's TD Bank Group, investors focused on its Clover payment processing platform's slowing growth. Texas Instruments (TXN) also provided a softer-than-expected profit forecast for the third quarter, and shares of the analog semiconductor producer dropped 13.3%. The company announced last month that it intends to invest more than $60 billion to expand its chip manufacturing capacity in the U.S. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
40 minutes ago
- Yahoo
What You Need to Know Ahead of Ross Stores' Earnings Release
With a market cap of $42.8 billion, Ross Stores, Inc. (ROST) operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands in the United States. Headquartered in Dublin, California, the company offers apparel, accessories, footwear, and home fashions products. ROST is expected to report its Q2 earnings on Thursday, Aug. 28. Ahead of the event, analysts expect ROST to report a profit of $1.53 per share, down 3.8% from a profit of $1.59 per share reported in the year-ago quarter. It has exceeded analysts' earnings estimates in each of the past four quarters, which is notable. More News from Barchart 2 Recession-Proof Dividend Stocks to Buy for the Second Half of 2025 UnitedHealth Stock Spirals Lower Again. Don't Buy the Dip. Auto Revenue Keeps Plunging at Tesla. Should You Buy the TSLA Stock Dip or Run Far Away? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For the current year, analysts expect ROST to report EPS of $6.23, down 1.4% from $6.32 in fiscal 2024. However, its EPS is likely to rise 9% year over year to $6.79 in FY2026. Over the past year, ROST shares surged 4%, underperforming the S&P 500 Index's ($SPX) 17.3% gains and the Consumer Discretionary Select Sector SPDR Fund's (XLY) 22.9% returns over the same time frame. On Jul. 2, shares of Ross Stores climbed more than 1% after Jefferies Financial Group Inc. (JEF) upgraded the stock from a 'Hold' to a 'Buy' rating. The firm also raised its price target to $150, citing improved traffic trends, solid inventory management, and a favorable off-price retail environment as key catalysts for potential upside in the stock. The consensus opinion on ROST stock is highly upbeat, with an overall 'Strong Buy' rating. Out of the 19 analysts covering the stock, 15 recommend a 'Strong Buy' and four recommend a 'Hold.' Its mean price target of $154.53 indicates a robust 11.1% upside potential from current price levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data