Happy Friday Zingers! Microsoft Teams went down today, preventing millions of people across the country from doing their jobs… assuming people were doing their jobs on a Friday afternoon in the first place.

Be sure to cherish these moments, dear reader. As adults, Slack or Microsoft Teams outages are the closest we’ll ever get to a snow day. By the time they plow the roads — I mean, reboot the server — I’m already on the slopes. ⛷

Today’s Price Action:

$SPY: -.13%
$QQQ: -.60%
$DIA: +.16%

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TODAY’S MOST VOLATILE STOCKS

ONE TOP MOVER

Why Semiconductor Names Traded Lower Today

Briefly: Given the past year, you wouldn’t think it was possible. But, alas, here we are.

So Basically: Intel’s earnings put a damper on the mood like cops showing up to a party. The chipmaker reported worse-than-expected earnings and closed the day down nearly 12%.

So Then: Some of the biggest names in semiconductor stocks fell in sympathy, including NVIDIA, AMD and Super Micro Computer.

So What? Chip stocks have been some of the top market performers recently, driven by an increase in demand for AI tech. But today’s price action shows that investors are getting picky with which chip names they want to hold.

What Next: AMD is set to report next week. Will it be more of the same?

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ONE TRADE IDEA FOR NEXT WEEK

Blackstone's Track Record For Investment Return Under Spotlight

Briefly: BMO Capital Markets analyst Étienne Ricard reiterated the Market Perform rating on Blackstone, raising the forecast to $101 from $95.

So Basically: According to the analyst, the company’s earnings growth appears set to resume in 2024.

Back Up: In Q4, Blackstone’s Distributable earnings rose 4% to $1.39 billion, beating expectations and showcasing strength amid market volatility.

So Then: The company declared a dividend of $0.94 and repurchased shares, emphasizing effective capital allocation.

Big Picture: Ricard feels valuation fully reflects expectations for mid-teens fee-related earnings growth and offers a balanced risk-reward on the stock.

What Next: Check out the analysts’ full thoughts here.

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See Details of the World's Best Portfolios

Savvy Trader is an investment site where you can see the details of various investor portfolios. Each time an investor makes a trade, you are sent a notification of the trade. The performance of portfolios on Savvy Trader is tracked by Savvy Trader using real-time pricing and can not be manipulated.

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