19 minutes ago
Stocks that make the biggest moves before the market
Below are some of the companies that made headlines before the bell.
- Carvana — Shares rose more than 5% after RBC upgraded the stock to sector perform from underperform. The company cited reasonable valuations and favorable settings for unit acceleration.
- MongoDB — Shares fell more than 8% after the company released disappointing first-quarter and full-year guidance on Thursday. Meanwhile, MongoDB beat expectations in the fourth quarter. The database software maker posted adjusted earnings of 86 cents per share on revenue of $458 million. Analysts had expected earnings of 47 cents a share and revenue of $433 million, according to LSEG.
- DocuSign — Shares rose 8.4% after the company beat expectations and gave a positive outlook for the first quarter. DocuSign reported fourth-quarter adjusted earnings of 76 cents per share on revenue of $712 million for the period. Wall Street had expected earnings of 64 cents per share on revenue of $699 million, according to analysts surveyed by LSEG.
A complete list can be found here.
— Ha-Kyung Kim
38 minutes ago
US jobs rose by 275,000 in February, but unemployment rate rose
The U.S. economy added 275,000 jobs last month, easily beating the Dow Jones consensus estimate of 198,000. Such numbers would raise concerns that the Federal Reserve may be slow to cut interest rates.
However, the US unemployment rate rose from 3.7% to 3.9%. Moreover, wage growth was slower than expected. Employment growth for January was also significantly revised downward from 353,000 to 229,000.
— Fred Imbert
1 hour ago
Dow will be delayed this week
With only Friday's trading left in the trading week, the three major indexes are continuing to diverge in their weekly performance.
The S&P 500 rose 0.4% for the week. The Nasdaq Composite Index is slightly less than flat, but the Dow Jones Industrial Average is underperforming, down 0.8%.
— Alex Harring
7 hours ago
It is reported that car sales in China soared from January to February.
On January 10, 2024, a large number of Chinese-made cars are being assembled at Yantai Port for export to Yantai, China.
Cos Photo | Nuru Photo | Getty Images
China's passenger car sales rose 16.3% in the January-February period from a year earlier, according to data from the China Passenger Car Association on Friday, Reuters reported.
Sales volume in January was 3.16 million units, an increase of 57.1% year-on-year, but in February it was down 21.6% year-on-year.
EV sales in the past two months rose 18.2% year-on-year, but slower than the 20.8% growth rate for all of 2023.
— Reuters
12 hours ago
Yen continues to appreciate after Japan's largest labor union agrees to 6.7% wage increase
A day after hitting a one-month high, the Japanese yen continued to rise against the US dollar.
On Friday, the yen stood at 147.57 yen, its highest level since February 1. On Thursday, Japan's largest industry union group, UA Zensen, reportedly announced that employers have agreed to raise wages for full-time workers by 6.7% as part of spring wages. negotiation.
Rising wages are a prerequisite for the Bank of Japan to begin easing its ultra-easy monetary policy, which could lead to interest rate hikes and a stronger yen.
13 hours ago
Japan's household spending in January fell by 6.3%
Bank of Japan Head Office in Tokyo, December 19, 2023 (Top C).
Kazuhiro Nogi | AFP | Getty Images
Spending by households of two or more people in Japan fell 6.3% in January from a year earlier, official data showed on Friday.
This was the 11th consecutive month of decline. This was significantly lower than the 4.3% decline expected in a Reuters poll.
Household spending unexpectedly fell by 2.1% from the previous month, compared to the 0.4% increase expected in a Reuters poll.
— Shreyashi Sanyal
14 hours ago
Broadcom, Gap, and Costco were among the biggest movers in after-hours trading.
Panoramic view of the Gap store.
Gap Co., Ltd.
Check out the companies making headlines after the market closes.
- Broadcom — Semiconductor stocks fell 1.6% after the company released full-year earnings guidance that was in line with analyst expectations, according to LSEG. However, for the fiscal first quarter, Broadcom beat analysts' adjusted earnings and revenue expectations.
- Marvell Technology — Shares of Marvell, which supplies data infrastructure semiconductor products, fell 6.5% after the company reported a weak first-quarter earnings outlook. Marvell also reported a weaker-than-expected outlook for first-quarter adjusted earnings.
- Gap — Shares of the apparel retailer rose 3.7% after its latest quarterly profit beat analysts' expectations. Gap reported earnings of 49 cents per share on sales of $4.3 billion, while analysts had expected earnings of 23 cents per share on sales of $4.22 billion, according to LSEG.
Read here for more information.
— Peer Singh
15 hours ago
