Author: AnswerStock

Micron Shares Rally After Upgrade

By AnswerStock•

Micron’s shares are up 48% year to date. 

Micron’s shares were up more than 3% on Monday, largely thanks to an upgrade by Goldman Sachs. Analyst Mark Delaney upgraded the company to buy from neutral and raised the company’s one-year price target from $40 to $56.

Micron is one of the largest U.S. producers of DRAM and NAND memory chips. Analysts have been strongly divided on the future of chip stocks, and Micron experienced a brief downturn during the height of theU.S.-China trade war.

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U.S. CEOs Pull Supply Chains Out of China

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Larry Fink of BlackRock helps explain why…

Laurence Douglas Fink is the CEO and chairman of BlackRock. Based in New York City, it’s a U.S. global investment management corporation with over $6.5 trillion in assets.

On July 19, Fink appeared on “Squawk Box,” a morning talk program on CNBC that features interviews some of America’s biggest names in investments and politics. Fink is regarded as a powerful CEO in U.S. investment management. 

While talking with “Squawk Box,” he said, “We’re hearing from CEOs that more and more supply chains are moving out of China right now. People are not waiting, companies are not wanting to see what the outcome is.”

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Is Tech Behind the U.S. Market Rally?

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This morning, the S&P 500 is currently over its average for one month at nearly 3,000…

The Dow Jones is relatively steady above 27,000.

And some underlying analysis shows that the U.S. market may be pretty extremely reliant on a few big tech companies.

There’s a shorthand that investors use for technology leaders: “FANG” or “FAANG.” But there are two variants of this acronym…

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CrowdStrike Shares Jump After Earnings Report

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This was the company’s first earnings report since its June IPO.

Shares of CrowdStrike jumped nearly 15% on Friday after investors got a look at the company’s first earnings report since its IPO. This added more than $2 billion to the company’s market cap, bringing it to $16.7 billion. 

The cybersecurity company has been beating investor expectations on all fronts since going public in June. The company raised over $600 million at its IPO and its shares have consistently outperformed its initial asking price of $34 per share. As of Friday, CrowdStrike’s stock is up 150% from its IPO price. 

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Here’s Why Netflix Shares Fell

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This is the first time the company has lost subscribers since 2011.

2019 is a year of highs and lows for Netflix. The company started the year coming off of a 52-week low, but its shares rebounded in the months since. 

The company has dealt with announcements from Disney and Apple of new rival streaming services. And most recently, it learned it will lose two of its most popular shows: “The Office” and “Friends.” 

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Slack Takes on Compromised Passwords

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One of the most lauded workplace communication apps is making headlines…

Its large-scale security resets may indicate some liability.

Reports show that Slack, one of the most popular platforms for enterprise messaging, will reset passwords for 65,000 users. That’s a lot more than the company usually handles at one time, piquing the interest of some security professionals.

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Nu Skin Shares Fall 16% After Updating Second-Quarter Guidance

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The company’s shares are down nearly 50% in 2019.

On Wednesday, shares of Nu Skin fell sharply after the company warned investors about a disappointing upcoming earnings report. The company said that China has been cracking down on health products, which is causing a drag on its sales. 

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Wells Fargo Shares Fall Despite Second-Quarter Revenue Gains

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Wells Fargo’s shares fell more than 2% due to concerns about spending and its net interest income.

Wells Fargo is one of several major banks to release its earnings reports this week. The bank released its second-quarter earnings report on Tuesday and despite beating investor expectations, Wells Fargo saw its shares fall more than 2%.

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