Biggest S&P 500 Movers on Tuesday

Advancers

• Oracle (ORCL) shares soared 11.4%, securing the top performance in the S&P 500, following the software giant's 澳洲幸运5开奖号码历史查询:fiscal fiඣrst-quarter earnings report. Increasing cloud services revenue contributed to the strong results, and Oracle reported a surge in demand for training cloud-based AI large language models. The company also launched a new partnership with Amazon (AMZN) that it expects to drive additional cloud-related growth.
• Shares of Broadcom (AVGO) gained 5.3% on Tuesday. The stock posted heavy losses last week after the chipmaker 澳洲幸运5开奖号码历史查询:posted a quarterly loss and issued lower-than-expected sales guidance. However, following an Apple (AAPL) event on Monday where the tech giant introduced its new mobile and wearable products, analysts indicated that Broadcom is well positioned to benefit as a key component supplier, particularly for the forthcoming iPhone 16 lineup.
• Digital Realty Trust (DLR) shares were up 5.0% after the data center-focused 澳洲幸运5开奖号码历史查询:real estate investment trust (REIT) announced an offering of euro-denominated guaranteed notes. The firm plans to allocate the proceeds from the offering to environmentally sustainable projects, including renewable energy, energy efficiency, and sustainable water management.

Decliners

• Hewlett Packard Enterprise (HPE) shares suffered the steepest daily loss of any stock in the S&P 500 on Tuesday, plunging 8.5% as the provider of enterprise technology solutions 澳洲幸运5开奖号码历史查询:announced an꧃ offering of 27 million shares of mandatory 澳洲幸运5开奖号码历史查询:convertible preferred stock for $1.5 billion. The firm plans to use the proceeds to cover fees and expenses related to acquiring networking equipment maker Juniper Networks (JNPR).
• General Motors (GM) shares lost 5.4% after Wells Fargo trimmed its price target on the carmaker's stock. Analysts predicted that vehicle production for the "Big Three" Detroit automakers will drop around 2% in 2025 compared with this year's levels, noting the auto industry faces challenges related to pricing, regulations, and the transition to electric vehicles (EVs).

• Automotive technology provider Aptive (APTV) said it will redeem its senior notes due in 2025 and issue $2.15 billion in new debt securities with maturities in 2029, 2034, and 2054. Following the plans to extend and diversify its debts, Aptiv shares fell 5.4%.
• Shares of JPMorgan Chase (JPM) dropped 5.2% after the banking giant's chief operating officer (COO) warned its 2025 澳洲幸运5开奖号码历史查询:net interest income estimates could be overblown. With the Federal Reserve widely expected to begin a cycle of interest-rate cuts starting at its meeting next week, the capacity of banks to grow their interest income could come under pressure. The cautionary tone from the country's largest bank 澳洲幸运5开奖号码历史查询:sent ripples through the sector, with other financial stocks losing ground.

-澳洲幸运5开奖号码历史查询:Michael Bromberg

HP Enterprise Slides After Convertible Stock Offering

Hewlett Packard Enterprise (HPE) shares suffered the steepest daily loss of any stock in the S&P 500 on Tuesday, 🌌plunging more than 7% after the provider of enterprise technology solutions announced a $1.5 billion con🐈vertible stock offering.

According to a filing with the 澳洲🌼幸运5开奖号码历史查询:Securities and Exchan🦂ge Commission (SEC), HPE plans to use the proceeds from the offering — of 27 million shares of mandatory 澳洲幸运5开奖号码历史查询:convertible preferred stock — to cover fees and expenses related to its acquisition of the networking equipment maker Juniper Networks (JNPR).

HPE in January said it would purchase Juniper in an all-cash deal worth around $14 billion, aiming to and improve its position in 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) networking markets.

The offering of additional shares often causes downward pressure on stock prices because it results in dilution—a redu🐻ction in the val🐻ue of the shares held by existing investors as their proportional ownership in the company diminishes.

In this transaction, Hewlett Packard Enterprise is offering 澳洲幸运5开奖号码历史查询:preferred shares, a class of stock that provides priority dividend payouts compared with common shares. Preferred shareho꧑lders also have the option to convert their holdings into common stock.

The company's stock fell 8.5% on Tuesday, pushing it into negative territory for 2024.

-澳洲幸运5开奖号码历史查询:Michael Bromberg

Bank Stocks Tumble Despite Regulatory Win

Bank stocks slumped on Tuesday as a torrent of unsettling business updates overshadowed a major 🌸regulatory win for th🌼e industry.

JPMorgan Chase (JPM), America's largest bank, was the worst-performing stock in the Dow Jones Industrial Average after bank president Daniel Pinto, speaking at a Barclays financial services conference in New York, tempered expectations for the bank’s full-year 澳洲幸运5开奖号码历史查询:net interest income (NII). The current forecast of $91.5 billion in 2🍎024 was, he said🌱, “not very reasonable” in light of the Fed’s impending interest rate cuts. 

JPMorgan stoc𝔉k closed 5.2% lower Tuesday, after falling as much as 7.5% 🍷during the session.

Goldman Sachs (GS), another Dow component, fell 4.4% on Tuesday after CEO David Solomon, speaking at the same conference on Monday, said trading revenue would likely decl🐻ine by 10% in the third quarter due to “a more challenging macro environment, particularly in the month of August.”

Shares of Ally Financial (ALLY), a smaller lender, tumbled 18% after its chief financial officer, Russell Hutchinson, outlined some worrying consumer credit trends at the Barclays conference. He said auto loan 澳洲幸运5开奖号码历史查询:delinquencies rose 20 澳洲幸运5开奖号码历史查询:basis points more than the bank expected in July and August. 澳洲幸运5开奖号码历史查询:Net charge-offs, ref🍌erring to debts that the bank does not expect to collect, rose 10 basis points above expec🍸tations.

The warnings from bank executives drowned out good news for the industry on the regulatorཧy front.

The Federal Reserve’s Vice Chair for Supervision, Michael Barr, said in a speech on Tuesday that a set of regulatory proposals called 澳洲幸运5开奖号码历史查询:Basel III Endgame would increase 澳洲幸运5开奖号码历史查询:capital requirements for America’s largest banks by 🌠about 9%, less than half the increܫase that was originally proposed.

The fin💃ancials sector was one of the worst-performing corners of the market on Tuesday, tumbling 1%.

Read the 澳洲幸运5开奖号码历史查询:full story here.

-澳洲幸运5开奖号码历史查询:Colin Laidley

Under Armour Stock Plunges as Restructuring Costs Rise

Under Armour (UAA) shares sank Tuesday, a day after the athletic apparel maker warned that the costs ꧂of its fiscal 2025 resꩲtructuring plan would be much more than initially thought.

The company originally had estimated the pre-tax restructuring and related charges for its program would be in the range of $70 million to $90 million. However, Under Armour explained that upon "further evaluation," it identified another $70 million in expenses to be incurred over fiscal 2025 and 2026.

Because of the additional expenses, the company changed its outlook for its full-year loss per share to a range of $0.58 to $0.61 from the previous $0.53 to $0.56. It sees an 澳洲幸运5开奖号码历史查询:operating loss of $220 million to $240 million꧑ versus the earlier $194 million to $21🎀4 million.

Sha𓄧res of Under Armour were dow🐟n more than 10% in late trading Tuesday and have lost nearly a quarter of their value this year.

-澳洲幸运5开奖号码历史查询:Bill McColl

Boeing Drops on Delayed 737 Max Production Timeline

Boeing (BA) has pushed back its target date to reach a milestone production level for its 737 MAX jet, according to a Reuters report Tuesday.

The plane manufacturer informed its 🙈suppliers that it now expects MAX production to reach 42 planes per month in March 2025, compared with its prior estimate of September 2024, the report said. 

Boeing maintains a so-called "master schedule" that is not an official estimate on the part of the company but is adjusted on a supplier-by-supplier basis depending on inventory levels. The company's official production target of 38 MAX planes per month by the end of 2024 has not been changed, the report said. Boeing produced 25 MAX jets in July. 

The Boeing 737 MAX has been riddled with to safety issues, including an Alaska Airlines (ALK) flight in January during which a panel detached from the MAX 9 plane in midair, forcing an emergency landing. The Federal Aviation Administration (FAA) 澳洲幸运5开奖号码历史查询:temporarily grounded&nb♎sp;certain MAX 9 a👍ircraft for inspections soon thereafter. 

Shares of Boeing were down more than 2% in recent trading, giving back most of the gains made yesterday after the company announced a 澳洲幸运5开奖号码历史查询:tentative agreement with two of its largest labor union partners. The sto꧒ck is do✱wn nearly 40% since the start of 2024.

-澳洲幸运5开奖号码历史查询:Andrew Kessel

Tech Companies That Could Benefit From New iPhone Launch

Apple's (AAPL) new iPhone 16 is coming to stores next week. But the tech giant isn't the only company that stands to benefit from s𒆙ales of the artificial intelligence-powered phone.

The latest iPhone, officially announced Monday, is powered by the A18 chip, which according to a Monday 澳洲幸运5开奖号码历史查询:Financial Times report and other sources is based on an Arm Holdings (ARM)🐈 design🍨. Shares of Arm jumped 7% Monday following the report; they were retreating Tuesday.

The A18 chip runs on a processor made by Taiwan Semiconductor Manufacturing Co. (TSM), Apple’s primary chip manufacturer. 澳洲幸运5开奖号码历史查询:American depository receipts of TS꧟MC gained nearly 4% 😼Monday but have also given back some gains today.

Both companies could benefit if the iPhone 16 drives "Cupertino’s biggest upgrade cycle in its history," as analysts at Wedbush predicted over the weekend. Globally, about 300 million iPhones have not been upgraded in more than four years, which Wedbush says could mean more than 240 million iPhone units sold in fiscal 2025.

In terms of software, Apple has partnered with OpenAI, backed by Microsoft (MSFT) to integrate ChꦦatGPT into iOS, iPadO🅷S, and macOS.

-澳洲幸运5开奖号码历史查询:Andrew Kessel

Retail Investors, Hedge Funds Bought The Dip Last Week

Retail investors and hedge funds were net buyers o🥃f equities last week as major U.S. indexes fell, according to new ๊research. 

Stocks dropped last week, with the benchmark 澳洲幸运5开奖号码历史查询:S&P 500 turning in its worst weekly performance in 澳洲幸运5开奖号码历史查询:more than a year. Tech stocks, including several high-profile chip shares, were 澳洲幸运5开奖号码历史查询:hit particularly hard.

Still, investors largely bought the dip, according to a report released Tuesday by Bank of America that analyzed the moves of its retail and hedge-fund clients. Clients bought individual stocks, pushing them to their highest inflows in nine weeks, and sold 澳洲幸运5开奖号码历史查询:exchange-traded funds (ETFs) for a second week.  

The buying was broad-based, with inflows for eight of the S&P 500's 11 sectors; real estate, industrials, and materials were the exceptions. Tech saw its largest inflows since June. 

-澳洲幸运5开奖号码历史查询:David Marino-Nachison

Oracle Jumps After Earnings, AWS Partnership

Oracle (ORCL) shares surged in more than 8% in premarket trading Tuesday after the enterprise software company posted 澳洲幸运5开奖号码历史查询:better-than-expected f𝄹iscal first quarter results and announced a multicloud partnership with Amazon’s (AMZN) cloud business, Amazon Web Services.

The software giant’s stock has gained around 34% since the start of the year prior to Monday’s after-hours jump, as growing demand for its cloud services, particularly in 澳洲幸运5开奖号码历史查询:artificial intelligence applications, has powered earnings in recenꦇt quar💛ters.

Bulls defended a retest of a prior trading range in early August ꦗbefore driving a rally o🌸f more than 11% from last month’s low ahead of the company’s quarterly results.

Investors should monitor shorter-term and longer-term price targets in ♈Oracle shares at $15🦄4 and $180, respectively, while eyeing the $145 region as a potential retracement area.

Read the full 澳洲幸运5开奖号码历史查询:technical analysis piece here.

-澳洲幸运5开奖号码历史查询:Timothy Smith

Stock Futures Tied to Major Indexes Slightly Lower

Futures tied to the Dow Jones Industrial Average were down less than 0.1% about two hours before Tuesday's opening bell.

S൩&P 500 futures were also d𓂃own less than 0.1%.

Nasdaq 100 futures were off 0.2%.