Key TakeawaysAdvanced Micro Devices unveiled its next generation of artificial intelligence chips at its Advancing AI event Thursday.The new products come as demand for AI chips grows, and could help AMD capitalize on “insatiable” AI demand.AMD CEO Lisa Su also highlighted the company's partnerships with Meta, Google, Oracle, and Microsoft at the event. Advanced Micro Devices (AMD) unveiled its next generation of artificial intelligence (AI) chips at its Advancing AI event on Thursday. The chipmaker announc ...

Key TakeawaysAmazon's two-day Prime Big Deals Days this week set a record for sales and items sold at an October event, the company said.Rivals Target and Walmart are also holding early holiday shopping season sales events.Bain & Co. said holiday sales are expected to be below average this year. Amazon (AMZN) shares advanced as the biggest online retailer said its Prime Day event this week was record-setting. The company said that sales and number of items sold during Prime Big Deal Days on Tuesday and Wedn ...

Core Insights - Shares of solar power companies, particularly First Solar, experienced a significant decline following Jefferies' downgrade of its price target, citing concerns over current-quarter profits and potential delays affecting volumes [1][2] Company Summary - Jefferies lowered its price target for First Solar from $271 to $266 while maintaining a "buy" rating, indicating a cautious outlook despite the downgrade [1] - First Solar's shares fell by 10%, making it the worst performer in the S&P 500 on that day, reflecting investor concerns over the company's near-term performance [1] Industry Summary - The solar power industry is facing challenges, including delays in utility-scale solar-power growth due to long interconnection queues, supply-chain issues, and labor shortages, which are expected to persist into the next year [3] - Other solar companies, such as Enphase Energy and SolarEdge Technologies, also saw declines in their stock prices, with Enphase down nearly 6% and SolarEdge down about 5% [3]

Key TakeawaysShares in Boeing continued falling Thursday, after the airplane maker earlier this week withdrew its contract offer to striking machinists, prompting rating agency S&P Global to issue a downgrade warning on the company’s debt.The stock has spent most of this year descending within a falling wedge, a chart pattern consisting of downward sloping converging trendlines that indicates a potential bullish trend reversal.Investors should watch key overhead levels on Boeing's chart around $192, $234, $ ...

Key TakeawaysTwo former Pfizer executives published a statement saying they support management as it gets pressured for changes by activist investor Starboard Value.The ex-Pfizer executives, Ian Read and Frank D'Amelio, said they didn't want to get involved with Starboard's efforts to seek change.Starboard on Thursday accused people inside Pfizer of threatening Read and D'Amelio if they backed Starboard's efforts. Pfizer (PFE) shares lost ground Thursday after two former executives released a statement supp ...

Key TakeawaysCostco saw sales jump 9% in September compared to the same month a year ago.Net sales for the month totaled $24.6 billion.One reason for the bump, according to Costco, was “abnormal consumer activity” due to port strikes and Hurricane Helene. Shoppers didn’t pinch pennies at Costco (COST) last month. The popular wholesaler said Wednesday that it saw sales jump 9% in September compared to the same month a year ago—with net sales for the month totaling $24.6 billion. One reason for the bump in sa ...

Group 1 - TD Bank is expected to pay around $3 billion in penalties and accept limits on its U.S. growth due to failure in curbing money laundering activities linked to drug cartels [1][2] - The Office of the Comptroller of the Currency is anticipated to impose fines and restrict the growth of TD Bank's U.S. retail operations [2] - TD's U.S. unit is reportedly planning to plead guilty to criminal charges related to a U.S. Department of Justice investigation into money laundering allegations associated with a Chinese crime operation [3] Group 2 - In August, TD Bank's CEO Bharat Masrani indicated that the bank was collaborating with U.S. regulators and law enforcement to address the issues, while the bank set aside billions in anticipation of the fines [4] - TD Bank reported an unexpected third-quarter loss in August, attributed to the provisions made for the anticipated penalties [4] - CEO Bharat Masrani announced his resignation effective April 2025, along with a succession plan [5]

Key TakeawaysOracle shares hit a record high Wednesday on growing investor enthusiasm for the company's reach into the artificial intelligence market.The stock traded in a three-year rising wedge before staging a decisive volume-backed breakout above the pattern last month, though the RSI indicator warns of overbought conditions.Investors should monitor important lower levels on Oracle's chart around $146, $127, and $100, while also watching a bars pattern bullish price target around $250. Oracle (ORCL) sha ...

Group 1 - Shares of Constellation Energy, NRG Energy, and Vistra experienced significant declines on Wednesday, raising questions about the sustainability of their recent momentum in the utilities sector [1][2][3] - The declines followed record highs achieved at the end of the previous week, driven by optimism regarding growth opportunities from increased energy demand for artificial intelligence [2][3] - Analysts from BTIG suggested that utilities could face a correction of approximately 7% to 10%, citing stretched valuations relative to historical levels [4][5] Group 2 - Constellation Energy was the worst performer in the S&P 500 on Wednesday, with a drop of 6.1%, while NRG Energy and Vistra saw declines of 5.3% and nearly 3%, respectively [6] - Despite the recent declines, all three companies remain in positive territory for 2024, with Constellation shares more than doubling, NRG stock up over 70%, and Vistra being the top performer in the S&P 500 with more than tripled value since the start of the year [7]

UPDATE—Oct. 9, 2024: This article has been updated to reflect more recent share price information.Key TakeawaysTesla is expected to reveal its "robotaxi" on Thursday, after it was delayed from the original planned date in August.Analysts expect to see the vehicle, and hear details on Tesla's plans on its production, rollout, and operational costs.They also said that Tesla could show off its rumored new lower-cost model, which is expected to start production next year, and other products. Tesla (TSLA) is ex ...