Latest news with #MichaelFarr
CNBC
2 days ago
- Business
- CNBC
How to capitalize on the red-hot quantum computing space, according to a veteran investor
For investors looking to capitalize on the popular quantum computing space, it's better to cast a wide net, according to Michael Farr, CEO of Farr, Miller and Washington. Farr broke down his views on the red-hot quantum computing stocks, Dave & Buster's and Amazon on CNBC's "Three-Stock Lunch" Wednesday. Quantum ETF The longtime investor said it's difficult to identify true winners in the crowded space, so investors should consider exchange traded funds like the Defiance Quantum & AI ETF . Quantum computing stocks skyrocketed Wednesday after Nvidia CEO Jensen Huang said at a developers conference that the space was reaching an inflection point . Shares of Quantum Computing surged 24%, while Rigetti Computing soared about 17%. "I would own the ETF, because you can't know which one of these is going to be successful. It's early stages. You own a whole bunch of them, with some established companies in there too," Farr said. "I would not make an individual bet. I'd make a broader cast." Quantum computers are machines that use the laws of quantum mechanics to solve problems too complex for traditional computers, which store information in bits. Dave & Buster's Dave & Buster's shares jumped double digits Wednesday after the company's comparable sales fell less than expected. However, Farr said he would not own the restaurant and entertainment company because of its weak fundamentals. "As a long-term fundamental investor, they don't have a lot of cash. They do have a lot of debt. As a company, you don't have flexibility. If today you own it, you feel good. Tomorrow will be a great day not to own it," Farr said. "I would get out and put my money somewhere more predictable." Amazon The investor revealed that he is a fan of Amazon as the tech giant made a $20 billion investment on two data center complexes in Pennsylvania. "I think that over the next five years, you're going to be very happy owning this one," Farr said. "They have a lot of cash. They've got a great deal of opportunity." One of the complexes Amazon is building will be alongside a nuclear power plant . According to an Associated Press report, the plan has drawn scrutiny over an arrangement to essentially plug right into the power plant.
CNBC
2 days ago
- Business
- CNBC
Three Stock Lunch: Dave & Buster's, Amazon and the Quantum space
Michael Farr, Farr, Miller and Washington CEO, joins 'Power Lunch' to discuss Farr's investing take on three stocks: Dave & Buster's, Amazon and the Quantum space.
Time of India
22-05-2025
- Business
- Time of India
Wall Street stocks tumble as worries mount about US debt
U.S. stocks closed sharply lower on Wednesday as Treasury yields spiked on worries that U.S. government debt would swell by trillions of dollars if Congress passes President Donald Trump's proposed tax-cut bill. All three major Wall Street indexes closed with their biggest daily losses in a month. Small cap stocks also fell sharply, with the Russell 2000 index posting its biggest daily loss since April 10. Longer-dated Treasury yields rose after the Treasury Department's $16 billion sale of 20-year bonds met soft demand from investors. The yield on benchmark U.S. 10-year notes rose 10.8 basis points to 4.589%. During the session, the 10-year yield hit its highest since mid-February. A Congressional committee set an unusual hearing as House Republicans sought to overcome internal divisions about proposed budget cuts, including to the Medicaid health program. Nonpartisan analysts said the Republican bill could add between $3 trillion and $5 trillion to the federal government's $36.2 trillion debt. Live Events "There are any number of headlines, all of which have consequences if indeed they come to pass," said Michael Farr, chief executive officer at investment advisory firm Farr, Miller & Washington in Washington. "Many of these things are threats that fade rather quickly and markets are trying to digest what's important or what's material or what's perhaps negotiating bluster on behalf of the administration." The Dow Jones Industrial Average fell 816.80 points, or 1.91%, to 41,860.44, the S&P 500 lost 95.85 points, or 1.61%, to 5,844.61 and the Nasdaq Composite lost 270.07 points, or 1.41%, to 18,872.64. Ten of the 11 S&P 500 sectors fell, led by real estate, healthcare, financials, utilities, consumer discretionary and technology equities. Communication services stocks gained. Google parent Alphabet rose 2.7%, while Nvidia lost 1.9%, Apple fell 2.3% and Tesla shed 2.7%. UnitedHealth Group dropped nearly 6% after a Guardian report said the healthcare conglomerate secretly paid nursing homes thousands of dollars in bonuses to help reduce hospital transfers for ailing residents. HSBC downgraded the stock to "reduce" from "hold". Target fell 5.2% after slashing its annual forecast due to a pullback in discretionary spending. Wolfspeed plunged nearly 60% following a report that the semiconductor supplier was preparing to file for bankruptcy within weeks. The S&P 500 has climbed more than 17% from its April lows, when Trump's reciprocal tariffs roiled global markets. Morgan Stanley upgraded its stance on U.S. equities to "overweight", saying the global economy was still expanding, albeit slowly, amid policy uncertainty. Declining issues outnumbered advancers by a 5.82-to-1 ratio on the NYSE. There were 188 new highs and 104 new lows on the NYSE. The S&P 500 posted 15 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 53 new highs and 92 new lows. Volume on U.S. exchanges was 19.39 billion shares, compared with the 17.5 billion average for the full session over the last 20 trading days.
Free Malaysia Today
21-05-2025
- Business
- Free Malaysia Today
Wall Street stocks tumble as worries mount about US debt
All three major Wall Street indexes fell sharply after the Treasury's US$16 billion 20-year bond sale met weak investor demand. (AP pic) NEW YORK : US stocks closed sharply lower on Wednesday as Treasury yields spiked on worries that US government debt would swell by trillions of dollars if Congress passes President Donald Trump's proposed tax-cut bill. All three major Wall Street indexes closed with their biggest daily losses in a month. Small cap stocks also fell sharply, with the Russell 2000 index posting its biggest daily loss since April 10. Longer-dated Treasury yields rose after the Treasury Department's US$16 billion sale of 20-year bonds met soft demand from investors. The yield on benchmark US 10-year notes rose 10.8 basis points to 4.589%. During the session, the 10-year yield hit its highest since mid-February. A congressional committee set an unusual hearing as House Republicans sought to overcome internal divisions about proposed budget cuts, including to the Medicaid health programme. Nonpartisan analysts said the Republican bill could add between US$3 trillion and US$5 trillion to the federal government's US$36.2 trillion debt. 'There are any number of headlines, all of which have consequences if indeed they come to pass,' said Michael Farr, chief executive officer at investment advisory firm Farr, Miller & Washington in Washington. 'Many of these things are threats that fade rather quickly and markets are trying to digest what's important or what's material or what's perhaps negotiating bluster on behalf of the administration.' The Dow Jones Industrial Average fell 816.80 points, or 1.91%, to 41,860.44, the S&P 500 lost 95.85 points, or 1.61%, to 5,844.61 and the Nasdaq Composite lost 270.07 points, or 1.41%, to 18,872.64. Ten of the 11 S&P 500 sectors fell, led by real estate, healthcare, financials, utilities, consumer discretionary and technology equities. Communication services stocks gained. Google parent Alphabet rose 2.7%, while Nvidia lost 1.9%, Apple fell 2.3% and Tesla shed 2.7%. UnitedHealth Group dropped nearly 6% after a Guardian report said the healthcare conglomerate secretly paid nursing homes thousands of dollars in bonuses to help reduce hospital transfers for ailing residents. HSBC downgraded the stock to 'reduce' from 'hold'. Target fell 5.2% after slashing its annual forecast due to a pullback in discretionary spending. Wolfspeed plunged nearly 60% following a report that the semiconductor supplier was preparing to file for bankruptcy within weeks. The S&P 500 has climbed more than 17% from its April lows, when Trump's reciprocal tariffs roiled global markets. Morgan Stanley upgraded its stance on US equities to 'overweight', saying the global economy was still expanding, albeit slowly, amid policy uncertainty. Declining issues outnumbered advancers by a 5.82-to-1 ratio on the NYSE. There were 188 new highs and 104 new lows on the NYSE. The S&P 500 posted 15 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 53 new highs and 92 new lows. Volume on US exchanges was 19.39 billion shares, compared with the 17.5 billion average for the full session over the last 20 trading days.
