Tag: Basic Materials/Resources
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Zscaler’s stock rallies after analyst upgrades on ‘much higher degree of confidence’
[ad_1] Zscaler Inc.’s shares rallied Tuesday after an analyst upgraded the cybersecurity stock on higher confidence the company will make its revenue targets as business spending loosens up from a year of recessionary fears. Shares of Zscaler ZS, +4.83% surged more than 5% to an intraday high of $156.33, while the ETFMG Prime Cyber Security…
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Tokyo Steel Manufacturing shares jump after guidance raised on strong demand
[ad_1] Tokyo Steel Manufacturing shares 5423, +21.38% rose sharply Monday morning after it posted strong first-quarter results and raised full-year profit guidance. The shares were recently 21% higher at the upper end of the day’s trading range of 1,703 yen. Tokyo Steel said Friday after market close that net profit climbed 30% from a year…
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Opinion: ‘Overbought does not mean sell.’ Stock bulls and this market have room to run.
[ad_1] The stock market, as measured by the S&P 500 Index SPX, +0.03%, has been posting strong gains. The market has certainly reached overbought levels in a number of ways, but overbought does not mean sell. Confirmed sell signals have not been registered yet. Now that SPX has cleared the 4510 level, the next major…
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CSX shares come off the rails while Peloton goes up a gear, and other early Friday movers
[ad_1] Here are some of the biggest movers of the day: Stock gainers: Digital World Acquisition Corp. DWAC, -2.05%, the special purpose acquisition company (SPAC) looking to take Donald Trump’s Truth Social media company public, soared 20% in premarket trades after the SPAC reached a settlement with the Securities and Exchange Commission over fraud charges. RedHill Biopharma…
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Carvana, AT&T shares rise, and other stocks on the move
[ad_1] Here are some of the most notable stock movers in Wednesday morning action. Stock gainers Shares of AT&T Inc. T, +7.84% and Verizon Communications Inc. VZ, +4.85% were each up in morning action, with AT&T ahead more than 6% and Verizon up more than 4%. AT&T said in a Tuesday court filing that it…
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AT&T’s stock is on track for first gain in 11 sessions as lead update sparks relief
[ad_1] After failing to close in positive territory for a 10th session in a row Tuesday, AT&T Inc. shares were tracking toward a gain in Wednesday’s premarket activity. The telecommunications stock was up 4% in premarket trades as recent company commentary suggested to some analysts that AT&T’s T, -0.59% exposure to lead-clad cables may not…
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‘Just 1% of the nation’s homes have changed hands this year,’ Redfin says
[ad_1] Amid mortgage rates near 7%, few homeowners in the U.S. are selling their homes. Out of every 1,000 homes in the U.S., only 14 changed hands over the first six months of this year, or 1.4%, according to data released Tuesday from real-estate brokerage Redfin RDFN, -3.83%. Before the pandemic in 2019, roughly 19…
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Canopy Growth loses billions as dream of pot riches runs into harsh reality
[ad_1] The town of Smiths Falls, Ont., cheered when Canopy Growth Corp. and its Tweed brand closed a purchase in 2017 of a famed Hershey chocolate plant that had sat vacant for years. As the first major Hershey HSY factory outside the U.S, the location had been a tourist attraction for chocolate lovers for nearly…
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Opinion: As S&P 500 hits 2023 highs, it’s all systems go for stock market bulls
[ad_1] The stock market, as measured by the S&P 500 Index SPX, -0.10%, is now racing to new 2023 highs. We continue to recommend holding a “core” bullish position. There is stronger resistance at 4630 but beyond that, the next resistance area is the all-time high just above 4800. As for downside support, look to…
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Fortinet’s stock nabs record closing high, while Microsoft, Nvidia, Broadcom bids all fall short
[ad_1] Microsoft Corp. and Nvidia Corp., two of the standard-bearers of the artificial-intelligence wave, jostled for record closing highs Friday along with another chip maker and one cybersecurity company, as AI remains a driving force in this year’s tech rally. Only one succeeded. On Friday, Nvidia NVDA, -1.10% shares rose as high as $480.88, but…