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🎉 It's A Party: AMD's Report Helps Lift These Stocks Higher
Plus, more details on Boeing's newly-announced CEO, previewing Meta's earnings report and more
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Happy Thursday Zingernation! Sometimes it’s important to lower the bar so you can easily exceed expectations. That’s why in college I made sure to never show up to class for the first week, and then impress professors by showing up for the rest of the semester. AMD did a good job of clearing a low bar, helping lift the overall tech market, and Boeing followed suit by delivering a report that was just good enough to give the stock a much-needed bounce.
—Aaron Bry & Nic Chahine
Plus, how some of the top traders are leveraging artificial intelligence for options trades.
MARKET SNAPSHOT
Yesterday: More volatility as the overall market opened higher, got crushed throughout the morning, and then came back a little bit in the afternoon.
On Our Radar: It’s a Fed Day! The FOMC will release its interest rate decision at 2pm ET, and then Powell will take the podium at 2:30pm ET. Meta, Qualcomm and other major companies will report after the bell, and you can tune in to the earnings calls on Benzinga’s YouTube channel.
TOP STORY
Basically: Advanced Micro Devices reported earnings after the bell yesterday, clearing a low bar after the stock traded down more than 20% in the few weeks heading into the report.
What Happened: The positive price action in AMD helped kick start a rally in the tech market, and drove these stocks higher.
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FIVE ZINGERS
The Set Up: Like AMD, Meta has been trading lower into this afternoon’s report. Here’s what the experts are saying about $META’s chart.
Thank You For (Not) Smoking: Altria reported earnings this morning, missing the mark on revenue as cigarette sales plunged.
On $PINS And Needles: Pinterest reported earnings after the close yesterday, and the stock moved lower after the company said this.
Something’s Brewin’: Starbucks shares got a nice bounce after the coffee giant reported better-than-expected earnings Wednesday afternoon.
Sound The Alarm?: Economist Paul Krugman warns of pre-recession signals, and points to this economic rule as a canary in the coal mine.
ONE FOR THE ROAD
What Happened: Boeing reported second-quarter 2024 results and named Kelly Ortberg its new President and CEO, effective August 8, 2024.
Why It Matters: Boeing’s stock is coming off its lows after getting beaten down following safety and quality control issues. Here are some more details about the newly-named CEO.
PRESENTED BY BENZINGA
Exclusive for Benzinga Edge members! The Weekly Whisper Index reveals five under-the-radar stocks gaining investor attention. (Spoiler: Members also get less ads on Benzinga.com.) Access NOW.
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