Jim Cramer is betting big on a financial stock that is seeking 'global domination'
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CNBC
an hour ago
- CNBC
Stocks making the biggest premarket moves: Pfizer, Eaton, Palantir, Yum and more
Check out the companies making the biggest moves in premarket trading: Palantir Technologies — The defense technology stock jumped 6.8% after quarterly revenue exceeded $1 billion for the first time and it raised full-year guidance. Palantir now anticipates revenue for the year to range between $4.142 billion and $4.150 billion, up from prior guidance of $3.89 billion to $3.90 billion. Second-quarter earnings and revenue topped expectations. Pfizer — The stock rose 1.7% after the drug maker raised its guidance and second-quarter earnings and revenue topped analyst estimates. Pfizer now expects full-year adjusted earnings between $2.90 to $3.10 per share, versus previous guidance of $2.80 to $3 a share. Yum Brands — Shares slipped 1.7% following the KFC, Taco Bell and Pizza Hut parent's second-quarter missed expectations . Adjusted earnings of $1.44 per share were 2 cents below the LSEG consensus estimate, while revenue of $1.93 billion lagged $1.94 billion expected by analysts. Eaton — The power management company dropped 3% after issuing weak guidance for the third quarter. Eaton anticipates adjusted earnings of $3.01 to $3.07 per share, while analysts polled by LSEG expected $3.09 per share. Second-quarter earnings and revenue topped expectations. BP — U.S.-listed shares of the U.K.-based oil giant added 1.7% after BP's quarterly profit beat expectations . Dupont De Nemours — The chemical maker jumped 5.6% after second-quarter adjusted earnings of $1.12 per share exceeded the $1.06 a share expected by analysts polled by LSEG. Revenue of $3.26 billion was above the $3.24 consensus estimate. Duke Energy — The Charlotte-based utility rose 1.5% after second-quarter adjusted earnings of $1.25 per share exceeded the $1.18 per share analysts surveyed by FactSet had penciled in. Duke Energy also reaffirmed its full-year adjusted earnings guidance of between $6.17 to $6.42 per share versus FactSet's consensus analyst estimate of $6.32. Lemonade — The insurance stock rallied 7% following second-quarter revenue of $164.1 million, topping the $160.3 million consensus estimate, according to FactSet. Lemonade also reported a narrower-than-expected loss per share. Hims & Hers Health — The telehealth company pulled back dove nearly 12% after second-quarter revenue of $545 million missed estimates from analysts polled by LSEG that called for $552 million. The firm's third-quarter EBITDA forecast of $60 million to $70 million also missed analyst forecasts of $77 million. Axon Enterprise — The maker of tasers and other police products climbed 8% after second-quarter earnings beat Street expectations and it raised full-year financial guidance. Axon earned $2.12 per share, excluding one-time items, on $669 million in revenue, while analysts surveyed by FactSet had estimated $1.45 a share on $641 million. Syndax Pharmaceuticals — Shares soared more than 15% after the biopharmaceutical company's second-quarter revenue beat analyst expectations. Syndax also posted a narrower-than-expected loss per share. Zebra Technologies — The mobile computing company advanced 7% after adjusted second-quarter earnings of $3.61 per share bested the $3.34 consensus analyst estimate compiled by FactSet. Revenue of $1.29 billion matched expectations. MercadoLibre — The Latin American e-commerce platform fell 6% after second-quarter earnings missed expectations. MercadoLibre's earned $10.31 per share versus the consensus estimate of $11.93 per share, according to numbers compiled by FactSet. —CNBC's Alex Harring, Lisa Han, Sarah Min and Brian Evans contributed reporting.
Yahoo
4 hours ago
- Yahoo
One key reason a slowing economy isn't shaking stock market bulls: Morning Brief
Last week, fears over the US economy slowing more than initially thought took center focus as the major indexes experienced the worst single-day drop of the summer. That was the headline takeaway from the busiest week of data releases slated for the summer of 2025. But underneath the surface, there are still plenty of reasons to feel confident in the path higher for the S&P 500 (^GSPC), according to Wall Street strategists — a confidence that seemed to roar back on Monday as the S&P 500 jumped 1.5%. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Besides the dour jobs report, investors also learned that the S&P 500 is pacing for year-over-year earnings growth of 10.3%, well above the 5% expected entering the reporting period, per FactSet data. On top of that, we heard Big Tech giants say they're set to spend another $364 billion in AI investments during 2026, and third quarter earnings estimates for the S&P 500 weren't slashed during the first month of the quarter for the first time in over a year. In other words, while the US economic growth story is taking hits, the fundamental driver of the AI-driven bull market is absolutely cooking. That made Mike Wilson and the equity strategy team at Morgan Stanley declare "we're buyers of pullbacks," and that the team is bullish over the next 12 months. "While there's risk in the near-term, we are gaining confidence in our 12-month bullish view fueled by better earnings/cash flow growth," Wilson wrote. "The drivers include positive operating leverage, AI adoption, dollar weakness, cash tax savings from the [One Big Beautiful Bill], easy growth comparisons, and pent up demand for many sectors in the market." BlackRock's Investment Institute, led by Jean Boivin, wrote in a weekly market commentary note that there is a clear "tug-of-war" between the economic drag of tariffs and US corporate resilience driven by AI. They, too, are taking their signal from the latter. "Questions remain about who will pay for tariffs," Boivin's team wrote. "Early signs indicate a mix of consumers and companies. We think US corporate strength could cushion the blow and stay overweight the AI theme and U.S. stocks." In a research note summing up earnings reports seen from more than two-thirds of S&P 500 companies this quarter, Bank of America Securities head of US equity and quantitative strategy Savita Subramanian wrote that the "AI arms race is alive and well." To Subramanian, the focus on AI growth continuing to inflect higher isn't all about tech stocks either. It could be a tailwind for a broadening of the stock market rally and support US economic growth. "Increased power usage from AI and the physical build out of data centers should also lead to more demand for electrification, construction, utilities, commodities, etc, ultimately creating more jobs." Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Click here for in-depth analysis of the latest stock market news and events moving stock prices
CNBC
14 hours ago
- CNBC
Jim Cramer attributes market resilience to Big Tech's earnings success
CNBC's Jim Cramer reviewed Monday's market action and told investors that stocks' rebound from last week was lead by positive news from the Magnificent Seven Tech stocks — Microsoft, Meta, Amazon, Apple, Alphabet, Nvidia and Tesla. "Now, some of that may be because…the Fed has to cut, maybe even before September — I mean, that's how weak the employment numbers are," he said. "But at the heart of the market's resilience is, well…the Magnificent Seven." The indexes closed in the red on Friday as investors worried about a much weaker-than-expected labor report and President Donald Trump's modification of "reciprocal" tariffs on a number of countries. But stocks reversed course on Monday, and the Dow Jones Industrial Average jumped 1.34%, the S&P 500 added 1.47% and the Nasdaq Composite surged 1.95%. The market doesn't seem to be concerned that Trump suddenly fired the Bureau of Labor and Statistics Commissioner, Erika McEntarfer, and accused her of manipulating jobs data, Cramer said. Many of stocks that had been strong on Thursday but sank on Friday proceeded to recoup their losses during Monday's session, he pointed out. Cramer reviewed recent earnings from the tech titans, starting with Microsoft. He called the quarter "flawless," saying the company seems to be doing well in every segment of business. He noted that its cloud infrastructure division, Azure, saw a huge acceleration in growth. Cramer was also impressed with some figures from Meta's recent report, especially management's claim that 3.5 billion people use at least one Meta product a day. Alphabet is seeing success throughout the company, Cramer said, including its Google search business, Youtube and AI product, Gemini. He also said the Waymo business is building a nice lead over the rest of the autonomous vehicle space. Apple had a "tremendous" report, Cramer continued, emphasizing its better-than-expected growth. He was encouraged by management's comments on artificial intelligence innovations in the future. Amazon also did well, Cramer continued, with good results from retail sales and advertising revenue, as well as decent numbers from the web services division. While Cramer said Tesla's vehicle business is poor, he said it's doing very well as a tech company. He suggested it's worth owning for its autonomous driving and robots. Although Nvidia has yet to report, Cramer expressed optimism about the chipmaker and demand for its products. "Even though the Mag Seven has one hand tied behind its back with Tesla, we had tepid reactions to Apple and Amazon's numbers," he said. "The fact is that these companies, loaded with cash, not outrageously expensive — nation states, I call them — with multiple revenue streams and tight expenses, just can't be beat by any stretch of the numbers or the imagination." Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest The CNBC Investing Club Charitable Trust owns shares of Nvidia, Meta, Microsoft, Apple, Amazon and Alphabet.
