Stocks lower Friday. Movers: Palantir, Applied Materials, Ulta Beauty
Here are the stocks making the biggest market moves midday.
Stocks fell sharply on Friday as the post-election rally lost its momentum.
The S&P five hundred lost 1.6% at last check, while the tech-heavy Nasdaq Composite tumbled 2.6%. The Dow Jones Industrial Average dropped zero.Eight%. The Russell 2000 Index fell 1.sixty four%.
Bitcoin, which recently touched a record price above $91,000, moved up three% to $89,922.
S&P five hundred big stock movers this day
Five S&P five hundred stocks making big midday moves are:
- Palantir (PLTR) +Eight.6%
- Walt Disney (DIS) +5.zero%
- Bunge Global (BG) +four.four%
- Zimmer Biomet (ZBH) +three.zero%
- Dexcom (DXCM) +2.9%
The worst-performing five S&P five hundred stocks with the biggest midday drop are:
- Applied Materials (AMAT) -Eight.Eight%
- Omnicom (OMC) -7.7%
- Moderna (MRNA) -6.9%
- Warner Bros Discovery (WBD) -6.7%
- Interpublic Group (IPG) -6.6%
Stocks also worth noting consist of:
- Nvidia (NVDA) -four.5%
- Tesla (TSLA) +2.four%
- Apple (AAPL) -1.6%
- Ulta Beauty (ULTA) -four.four%
- Domino’s Pizza (DPZ) -1.2%
Bloomberg/Getty Images
Applied Materials tumbles after disappointing outlook
Applied Materials lost Eight% after giving a disappointing outlook.
The chip-equipment maker reported adjusted earnings per share of $2.32 for its fiscal Q4, topping the consensus estimate of $2.18 among analysts tracked by TheStreet. Revenue of $7.05 billion also surpassed analysts’ forecast of $6.Ninety six billion.
Related: Analysts revisit Applied Materials stock price targets after Q4 earnings
For the present quarter, on the alternative hand, it estimated revenue all throughout the region of $7.15 billion, with a margin for error of $four hundred million, which fell modestly wanting Wall Street forecasts.
Applied Materials is a key player all throughout the AI investment story, because it provides the equipment to produce the chips. Its key customers consist of Intel and Taiwan Semiconductor.
Palantir surges after plans to replace to the Nasdaq
Palantir Technologies shares surged Eight% to a record Friday after announcing its switch to the Nasdaq from the New York Stock Exchange, origin Nov. 26.
The data-analytics company also expects to be eligible to sign in in the Nasdaq 100 index, which would mean that "anyone who uses the Nasdaq index as their benchmark will should shop for PLTR," said Kenny Polcari, chief market strategist for SlateStone Wealth, Reuters reported.
Related: Analyst who forecast Palantir's rally makes every other bold call
The stock has more than tripled (up 267%) this year. Its gains were fueled by the company’s strong earnings and rosy guidance following its Nov. four quarterly report.
Palantir is making the most of sturdy demand for its AI platform. The company serves clients equivalent to the U.S. Department of Defense, Merck KGaA, and Airbus.
“The growth of our business is accelerating, and our financial performance is exceeding expectations as we meet an unwavering demand for the most advanced synthetic intelligence technologies from our U.S. government and commercial customers,” CEO Alex Karp said earlier this month in a letter.
Ulta Beauty falls after Berkshire Hathaway sells shares
Shares of Ulta Beauty slid four% after Berkshire Hathaway (BRK.B) disclosed it sold nearly all its stake all throughout the cosmetics retailer.
Berkshire (BRK.A) sold 666,000 shares of Ulta in the way forward for the third quarter, retaining 24,000 shares as of Sept. 30, based on a 13-F filing with the SEC. This marks a reversal from the 690,000 shares it purchased all throughout the 2d quarter.
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Ulta missed revenue and earnings estimates for its fiscal 2d quarter in August. The company also slashed its full-year guidance for net sales, earnings per share, operating margin, and same-store sales.
Ulta stock is now down 24% year-to-date. The company is expected to report earnings on Dec. 5.
Related: Veteran fund manager sees world of pain coming for stocks
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