S&P 500 and Nasdaq Reach New Highs: Microsoft and Meta Fuel AI Surge
The Dow Jones Industrial Average gained 0.46% to 44,665.82 at the opening bell. The S&P 500 rose 1% to 6,427.02, while the Nasdaq Composite advanced 1.55% to 21,457.48.
Warning! GuruFocus has detected 7 Warning Sign with MSFT.
Microsoft shares jumped more than 5% to $539.05 in morning trading, pushing the company's market value past $4 trillion for the first time. Investors responded to 18% year?over?year revenue growth and 39% growth in Azure cloud revenue, which underscored the company's expanding AI footprint.
Meta Platforms also delivered results that impressed Wall Street, helping boost optimism that AI?driven strategies across Big Tech can sustain market momentum. Analysts said strong adoption of AI services and cloud demand continues to be a key market catalyst.
As the general market took up confidence in the technology leadership, both MSFT and META were part of the early-session rally. Investors will now observe whether other impending Big Tech earnings support the AI-boosted growth narrative that federal tops have been supported by this year.
This article first appeared on GuruFocus.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
28 minutes ago
- Yahoo
CF Industries misses quarterly profit estimates on higher costs; shares fall
(Reuters) -CF Industries missed estimates for second-quarter profit on Wednesday, as higher costs weighed on the fertilizer firm, sending its shares down 4.3% in extended trading. The company's quarterly cost of sales was up about 27% at $1.14 billion from a year earlier on higher natural gas costs, which were up 77% at $3.36 per million British thermal units. U.S. natural gas prices, a key feedstock for nitrogen fertilizers, rose in the second quarter as power demand spiked on the back of energy-hungry data centers, escalating production costs for fertilizer producers. The Northbrook, Illinois-based company reported an adjusted profit of $2.35 per share for the three months ended June 30, compared with the analysts' average estimate of $2.54, according to data compiled by LSEG. Crop prices — including those of soybean, wheat and corn — have been falling in recent quarters due to oversupply and weakening demand, forcing farmers to cut back spending on fertilizers, affecting companies such as CF Industries. Peer Mosaic also missed second-quarter profit estimates on Tuesday, as higher costs weighed against gains from stronger potash prices and robust sales in Brazil. CF Industries' quarterly net earnings attributable to common stockholders fell about 8% to $386 million from a year earlier. The results come at a time when the agrichemical industry is bracing itself for a potential fallout from U.S. President Donald Trump's sweeping tariffs on most imports, which are expected to lower demand and curb farmers' spending. Sign in to access your portfolio
Yahoo
28 minutes ago
- Yahoo
Rivian Stock Plunges After Brutal Q2 Earnings and Weak Outlook
Aug 6 - Rivian Automotive (NASDAQ:RIVN) dipped more than 3% on Wednesday after posting mixed Q2 results that left Wall Street unimpressed. The EV maker reported a loss of $0.97 per share, missing consensus expectations by $0.32, though revenue came in slightly ahead at $1.30 billion versus the expected $1.27 billion, a 12.5% year-over-year increase. Warning! GuruFocus has detected 5 Warning Signs with RIVN. The revenue beat didn't do much to soften the blow of the wider-than-expected loss, as investors responded with a sell-off that pushed shares down to $12.00 during mid-day trading. Adding to the market's hesitation, the company continues to burn cash aggressively, with negative margins and return on equity weighing heavily on investor sentiment. Analyst ratings remain mixed, with a wide price target range from $12 to $18 and a consensus near $14.30. Insider selling by Rivian's CEO and CFO in recent months also added downward pressure, even as institutional ownership remains strong. While Rivian's long-term vision in EVs and autonomous tech continues to attract attention, the company faces mounting challenges balancing growth and profitability in a capital-intensive space. This article first appeared on GuruFocus. 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
28 minutes ago
- Yahoo
Planet Fitness Finally Made Canceling Easier. Why Its CEO Thinks That Could Help Growth
Key Takeaways Planet Fitness is seeing a "slight elevation" in canceled plans after allowing members of all clubs to close memberships online, company executives said Wednesday. The fitness club chain chose to enact a so-called "click-to-cancel" policy because it could help attract members in the future, CEO Colleen Keating said. Shares of Planet Fitness finished Wednesday down some 3%.Making it easier to cancel gym memberships will—in time—bring in more customers, Planet Fitness says. As of May, customers at all Planet Fitness (PLNT) locations have been able to cancel their subscriptions online, CEO Colleen Keating said on a conference call Wednesday. The company is seeing a 'slight elevation' in canceled plans, but the churn may level off in three months based on prior experience, Keating said. 'We believe this is the right thing to do—both to support our members and their experience, and as the industry leader,' she said, according to a transcript made available by AlphaSense. 'Allowing members to more easily manage their membership will only benefit us when they think about rejoining a club in the future,' she said, telling investors that gyms are poised to grow because younger generations are particularly focused on fitness. Planet Fitness voluntarily implemented a so-called 'click-to-cancel' policy. A federal rule would have required gyms, media companies, retailers, and other types of businesses to make it easier to cancel memberships online, but an appeals court blocked the move in July. The New Hampshire-based company narrowed its outlook for same-club sales through the full fiscal year, now anticipating a 6% increase, compared to 5% to 6% growth previously. The adjustment reflects membership churn and the volatile economy, CFO Jay Stasz said. Planet Fitness reported quarterly revenues and profits that rose from a year ago and exceeded Wall Street analysts' expectations, but shares finished Wednesday down some some 3%. Still, the stock has climbed about 7% since the start of the year. 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
