On Friday, the CNBC Investing Club with Jim Cramer discussed the volatile market trends that unfolded during the week. The S&P 500 rebounded from a recent low, breaking its seven-day win streak as investors shifted their focus from Big Tech names to smaller-cap stocks. This rotation impacted many Club holdings, including Nvidia which experienced a
Earnings
Citigroup’s second-quarter results have exceeded expectations, with earnings of $1.52 per share and revenue of $20.14 billion. The bank reported a 10% increase in net income, reaching $3.22 billion, driven by a 4% rise in revenue. Equities trading revenue saw a significant boost of 37%, totaling $1.5 billion, while fixed income revenue slightly decreased by
On Thursday, the S & P 500 and Nasdaq experienced a decline from their record highs following a softer-than-expected inflation report. The consumer price index (CPI) for June showed a decrease, signaling potentially lower interest rates in the future. This shift in economic indicators had a significant impact on investor sentiment, prompting a rotation out
PepsiCo recently reported mixed quarterly results, causing its shares to fall by more than 1% in early trading. The company cited declining demand in North America for its drinks and snacks as a major factor contributing to its disappointing performance. PepsiCo also narrowed its revenue outlook for the full year, now expecting organic revenue growth
Delta Air Lines recently announced a forecast of record revenue for the third quarter of the year due to the surge in summer travel demand. Nevertheless, the forecast missed analysts’ estimates, as airlines resorted to discounting fares after expanding their flights. The growth in sales for the current quarter is expected to be up to
BP, a British multinational oil and gas firm, experienced a significant drop in its shares after announcing an expected impairment of up to $2 billion in the second quarter. This news, coupled with warnings of lower refining margins, has caused concern among investors and analysts alike. The share price of BP plummeted by 2.6% in
The week’s trading on Wall Street was marked by gains, particularly in the tech sector. The Dow Jones Industrial Average saw a slight increase, while the S&P 500 and Nasdaq reached record highs by the end of the week. This trend continued the positive momentum seen in the previous month, quarter, and first half of
Samsung Electronics, a South Korean tech giant, has recently announced better-than-expected profit projections for the second quarter of the year. This news sent its shares soaring to their highest level since January 2021, with a significant jump of about 2.24%. The company expects an operating profit of approximately 10.4 trillion won, marking a staggering 1,452%
Constellation Brands recently released its quarterly earnings report, showcasing an overall positive performance driven by its beer business. Despite reporting an earnings beat, the company faced a 4% drop in its share price post-announcement. This decline was attributed to persistent weakness in the wines and spirits segment, which overshadowed the success of the beer division.
Walgreens, a major retail pharmacy giant, faced a significant blow as its shares plummeted nearly 20% following the release of fiscal third-quarter earnings that failed to meet expectations. The company had to slash its full-year adjusted profit outlook due to the harsh business environment for pharmacies and U.S. consumers. Amidst these challenges, Walgreens CEO Tim