Four years ago, Nvidia Corp. didn’t even rank among the top 20 U.S. companies by market capitalization. Now it’s poised to take over the No. 4 spot, having just passed Amazon.com Inc. based on intraday action Monday. Nvidia’s NVDA, +1.71% 2.1% stock rally as of midday Monday comes as Amazon’s stock AMZN, -0.61% is off 0.6%. Nvidia hasn’t finished a session worth more than Amazon since April 2002, when Nvidia was worth $5.73 billion and Amazon was worth $5.32 billion, according to Dow Jones Market Data.Now, ...

Rivian Automotive Inc. has “leading technology,” according to Barclays analyst Dan Levy — but that may not be enough to help it withstand a challenging market. Levy previously thought Rivian’s RIVN, -1.14% standout product and technology meant the company had “three legs of demand,” with one for each of its products — the EDV commercial van, the R1T pickup truck and the R1S sport-utility vehicle. While he saw demand challenges for the first two last year, he thought R1S demand would hold up, but that’s ...

There is good news for income-oriented investors — or anybody who owns any of the so-called Magnificent Seven tech stocks that have powered much of the S&P 500’s gains over the past year. Meta Platforms Inc. META, +0.89% likely won’t be the only megacap company to introduce a first-ever dividend in 2024, according to a team of analysts at Goldman Sachs Group GS, +0.96%. Fellow Magnificent Seven members Alphabet Inc. GOOGL, -0.29% and Amazon.com Inc. AMZN, -0.05% are well positioned to introduce dividends of ...

AbbVie Inc.’s stock ABBV, -0.41% fell 0.5% early Monday, after the drug company lowered its first-quarter guidance to reflect the dilutive impact of its closure of the acquisition of ImmunoGen. The company said it now expects first-quarter per-share earnings to range from $2.26 to $2.30, down from prior guidance of $2.30 to $2.34, including a 4 cent per share dilutive impact from the Immunogen deal. AbbVie announced the $10.1 billion all-cash deal for Immunogen in November, that includes ImmunoGen’s antibo ...

Hedge funds with long/short strategies have benefited in 2024 from a macroeconomic environment that has hit the most heavily shorted stocks particularly hard compared to their less shorted rivals, a new UBS report says. Previously, in the final two months of 2023, shares in the most heavily-shorted companies had actually outperformed their peers, a situation that had negatively impacted the returns reaped by hedge funds with long/short strategies. Now, this trend has reversed, in a shift that has seen stock ...

Amazon.com Inc. shares continued their charge higher Friday, securing their highest close in more than two years. The e-commerce giant’s stock advanced 2.7% in Friday’s session to finish the day at $174.45. That was the best ending level since Dec. 9, 2021, when Amazon’s stock AMZN, +2.71% closed at $147.17, according to Dow Jones Market Data. Don’t miss: Is Meta now a value stock? Amazon briefly surpassed Alphabet Inc. GOOG, +2.04% GOOGL, +2.12% as the third most valuable U.S. company by market capitalizat ...

If you’re hoping to gauge Americans’ lingering discontent with postpandemic price increases, look no further than the McDonald’s menu. You can find gripes on social media about a $5 chicken sandwich, $3 hashbrowns or a $5.50 Egg McMuffin, all of which some customers have called too pricey for a place known for cheap fast food. The price of a meal at the classic burger chain has even hit $18 at one location — that’s what a Big Mac combo meal will run you at a rest stop in the wealthy town of Darien, Conn.  I ...

The Securities and Exchange Commission announced charges against 16 financial companies for failing to properly maintain and preserve electronic communications, with the companies agreeing to pay a total of more than $81 million in civil penalties. The regulator said employees of these companies used “off-channel” communications, like personal text messaging services, to discuss clients and business transactions, rather than official company platforms. “Today’s actions against these 16 firms result from ...

There’s about to be a new king of the stock-market jungle. Microsoft Corp. is set to become the most highly valued U.S. company ever, surpassing the record market capitalization set by long-time leader Apple Inc. Microsoft’s stock MSFT, +1.45% has been on a roll this year, as it has ridden the artificial-intelligence and cloud-computing wave. In contrast, Apple shares AAPL, +0.41% have lost ground, as the iPhone maker’s reliance on consumers, which has been struggling, has led them to underperform their ...

Cisco Systems Inc. CSCO, +0.41% is planning thousands of job cuts as it restructures its business to focus more on high-growth markets, according to a Reuters report Friday, which cited three people familiar with the matter. The networking giant has a worldwide workforce of 84,900 as of fiscal 2023. Cisco declined comment on the report. Shares of Cisco dropped 10% in mid-November, a day after it reported quarterly results that beat on the top and bottom lines but gave weaker-than-expected revenue guidance ...