KEY TAKEAWAYSNvidia joined the Dow Jones Industrial Average Friday, replacing storied chipmaker Intel as the artificial intelligence darling cements its position as the world’s most valuable company.Nvidia shares, which are falling 1.2% in premarket trading, have risen nearly three-fold since the start of the year, driven by the AI frenzy, while Intel is down almost 50%.Paint maker Sherwin-Williams also became a member of the blue-chip index Friday, supplanting chemical giant Dow. Nvidia (NVDA) joined the D ...

Core Insights - AppLovin shares surged after the company reported better-than-expected results and a positive outlook, driven by increased digital advertising spending on its AI-powered platform [2][4] - The stock experienced a breakaway gap with the highest trading volume since August, indicating strong buying interest from larger market participants [5] - Technical analysis suggests a potential price target of around $360, approximately 45% above the recent closing price, with a bullish trend expected to continue until late March next year [7][8] Financial Performance - AppLovin reported a 66% increase in software revenue for the quarter, attributed to enhancements in its AXON platform that allowed advertising partners to scale their spending [3] Stock Performance - On Thursday, AppLovin shares rose 46% to $246.53, marking a more than six-fold increase since the beginning of the year, making it the best-performing technology stock in 2024 with a market capitalization of over $5 billion [4] Technical Analysis - The relative strength index (RSI) indicates strong bullish momentum but also suggests overbought conditions, which may lead to short-term profit-taking [6] - Key support levels to monitor include $228 and $172, with the former being crucial to maintain the current bullish trend [9][10]

Core Insights - Arista Networks reported third-quarter revenue of $1.81 billion, a 7% year-over-year increase, exceeding analyst expectations [1][3] - Net income for the third quarter was $747.9 million, or $2.33 per share, up from $545.3 million, or $1.72 per share, a year earlier [1] - Despite strong profits, the company's gross margin decreased to 64.2% from 64.9% in the previous quarter, with expectations for further decline in the fourth quarter [2] Revenue and Earnings Forecast - For the fourth quarter, Arista forecasts revenue between $1.85 billion and $1.9 billion, which is above consensus estimates [3] - Analysts had anticipated a 28% growth in the fourth quarter, driven by increased cloud spending due to AI demand [3] Stock Split Announcement - Arista announced a 4-for-1 stock split to enhance stock accessibility for investors, with trading set to begin on December 4 [4] - The stock split will reduce the price of each share by a factor of four, but will not affect the total value of investors' holdings [4] Market Reaction - Following the earnings report, Arista's shares fell more than 7% in extended trading, despite being up approximately 83% for the year prior to the announcement [5]

Core Insights - Hershey's earnings and revenue were negatively impacted by historically high cocoa prices and soft consumer demand [1][2] - The company reported a decline in sales for two of its three business units [1] - Hershey has lowered its full-year sales and earnings forecast [1] Financial Performance - Hershey reported adjusted earnings per share (EPS) of $2.34 for the third quarter, with revenue decreasing by 1.4% to $2.99 billion, both figures falling short of forecasts [1] - The full-year sales outlook has been revised to "flat" from a previous expectation of a 2% gain, with adjusted EPS growth now projected to be "down mid-single-digits" percent compared to earlier expectations of "down slightly" [1] Segment Performance - Sales in the North American confectionery segment increased slightly by 0.8%, while the salty snacks unit experienced a significant decline of 15.5% [2] - International sales also saw a decrease of 3.9% [2] Stock Performance - Hershey's stock fell by 2.3% on Thursday and has declined approximately 7% year-to-date, reaching its lowest levels in three years [3]

Airbnb (ABNB) reported third-quarter revenue that beat expectations, but profits fell short.  The vacation rental marketplace saw revenue grow 10% year-over-year to $3.73 billion, ahead of the analyst consensus from Visible Alpha. However, its net income came in at $1.37 billion or $2.13 per share, down from $4.37 billion or $6.63 per share a year earlier and missing expectations.  Nights and Bookings Growth Slows The company’s Nights and Experiences Booked came in at 122.8 million, up 8% from a year ag ...

Core Insights - EPAM Systems shares surged nearly 15% on Thursday, marking the top daily performance in the S&P 500 after the company reported third-quarter earnings that exceeded estimates and raised its full-year outlook [1][3] - Despite the recent gains, EPAM shares have lost more than 20% of their value since the beginning of the year [3] Financial Performance - EPAM reported third-quarter revenue of $1.17 billion, reflecting a year-over-year increase of 1.3% [2] - The earnings per share (EPS) for the quarter was $2.37, which is a 72-cent increase compared to the same period last year, surpassing analysts' expectations [2] - The company has revised its annual revenue forecast to a range of $4.69 billion to $4.7 billion, up from the previous estimate of $4.59 billion to $4.63 billion [2] Strategic Developments - The updated revenue forecast also accounts for the impact of recent acquisitions, including the purchase of NEORIS, a technology consulting firm based in Florida, which was completed on November 1 [3]

Group 1 - Arm Holdings' shares rallied after initially dipping, reversing losses following the company's fiscal second-quarter earnings results [1][2] - The company reported a revenue increase of 5% year-over-year to $844 million and a net income of $107 million, compared to a loss of $110 million in the previous year [2] - The full-year revenue forecast of $3.8 billion to $4.1 billion was lower than analysts' expectations, leading to initial declines in share price [2] Group 2 - Barclays analysts raised their price target for Arm Holdings from $125 to $145, anticipating double-digit growth in 2025 due to client growth and price increases for Arm's v9 CPU designs [3] - The stock finished up approximately 4% and has more than doubled in value in 2024 [3]

Tesla Stock Performance and Technical Analysis - Tesla shares surged 15% to $288 53, reaching a 15-month high, driven by investor optimism around potential benefits from Donald Trump's return to the presidency and the company's robotaxi ambitions [3] - The stock has more than doubled from its April low, supported by plans to start production of a lower-cost model vehicle next year [3] - Tesla shares have been trading within an ascending triangle, a bullish chart pattern indicating a continuation of the uptrend that began in April [1][4] Key Price Levels to Monitor - The $300 level is a critical overhead resistance point, where selling pressure may emerge near the psychological round number and July 2023 swing high [6] - Applying the measuring principle, an upside target of $350 is projected, calculated by adding the depth of the ascending triangle ($85) to the pattern's top trendline ($265) [7] - Support levels to watch include $265, near the ascending triangle's top trendline, and $230, a horizontal line connecting price action from November 2023 to September 2024 [8][9] Technical Indicators and Momentum - The relative strength index (RSI) confirms bullish momentum with a reading approaching 70, though it also signals nearing overbought conditions that could lead to short-term profit-taking [5] - A decisive volume-backed breakout on Wednesday indicates strong conviction behind the move, potentially opening the door for further upside [4]

Key TakeawaysNvidia this week surged into the top position among the world's most valuable companies by market capitalization, surpassing Apple.The stock has traded mostly sideways to higher on low trading volumes since breaking out from a symmetrical triangle last month as investors look for future catalysts that may drive the AI favorite's next move.Investors should monitor key lower price levels on Nvidia's chart around $144, $125 and $97, while watching an important higher level near $180. Nvidia (NVDA) ...

Qualcomm (QCOM) posted fiscal fourth-quarter earnings that exceeded analysts' expectations and announced a $15 billion stock buyback, driving shares higher after the closing bell Wednesday. The chipmaker reported fourth-quarter revenue of $10.24 billion, up 19% year-over-year and above the analyst consensus from Visible Alpha. Net income was $2.92 billion or $2.59 per share, compared to $1.49 billion or $1.32 per share a year ago and beating Wall Street projections. The revenue gains came as handset semicon ...