S&P 500 Gains and Losses Today

Hologic (HOLX) shares climbed 7.3% after the medical technology firm reported better-than-expected quarterly results and announced a $500 million accelerated 澳洲幸运5开奖号码历史查询:stock buyback plan.

Broadcom (AVGO) shares picked up 5.1% on optimism that the semiconductor's planned $61 billion purchase of VMWare (VMW) will receive approval from regulators. VMWare shares increased 0.4%. 

Meta Platforms (META) shares advanced 2.6% following reports that the social media and 澳洲幸运5开奖号码历史查询:metaverse company would be getting back into the Chinese market by selling a 🦄lower-priced virtual realꦐity headsets in that country.

Illumina (ILMN) shares plunged 8.1%, making it the biggest decliner in the S&P 500, after the biotec🍰h company's revenue was short of forecasts, and the firm cut its outlook on slowing demand for its genetic research🌜 equipment. It said that customers are being more cautious about spendin♔g.

Wynn Resorts (WYNN) shares tumbled 5.7% as the recovery of business from COVID-19 lockdowns at the casino operator's Macau locations was less than hoped. Jefferies downgraded the stock and slashed its 澳洲幸运5开奖号码历史查询:price target.

Arista Networks (ANET) shares dropped 2.3% amid concerns about the 澳洲幸运5开奖号码历史查询:cloud networking product maker's long-term guidance.

-Bill McColl

Dow Surges 400 Points,🎀 Posts Second Str🎃aight Winning Week

The 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average rebounded from 澳洲幸运5开奖号码历史查询:yesterday’s drop to move higher by 391 points, or 1.16%, as investors weighed the 澳洲幸运5开奖号码历史查询:latest comments from Federal Reserve offici🌼als. The Dow finished the week higher by about 0.7%, its second-consecutive week in the green as it follows up on the澳洲幸运5开奖号码历史查询: prior week’s blockbuster results. 

Intel (INTC)  sh🌺ares jumped by 2.8% to close at $38.86, equalling its highest share price sincไe June 2022. 

Microsoft (MSFT) surged up by 2.5% to close at $369.67, its third record-high close in the past four sessions. It was part of a 2.6% increase in the technology sector, with Apple (AAPL) gaining 2.3%, Salesforce (CRM) moving up by 1.7%, and IBM (IBM) rising by 1.6%. 

Caterpillar (CAT) shares moved higher by 2.4% to break a four-session losing streak. Dow Inc. (DOW) gained 2.3%. 

The Walt Disney Company (DIS) fell 2.5% to give back some of its gains from 澳洲幸运5开奖号码历史查询:this week’s earnings results, which included the media giant reporting 13% growth in its parks and experiences business unit. Merck & Co. (MRK), Nike (NKE) and Johnson & Johnson (JNJ) were the only other decliners in the session.

-Terry Lane

Illumina is Biggest S&P 500 Decliner, Shares Hit🧸 a 10-Yea🍸r Low

Illumina (ILMN) s𓃲hares fell to their lowest level in a decade after the genetic research equipm൩ent manufacturer missed revenue estimates and slashed its guidance as customers pulled back on spending.

澳洲幸运5开奖号码历史查询:Illumina now expects full-year revenue to fall 2% to 3%, down from its previous estimate of a gain of 1%. It sees 澳洲幸运5开奖号码历史查询:earnings per share (EPS) in a range of $0.60 to $0.70, versus its earlier forecꦐast of $0.75 to $0.90.1

CEO Jacob Thaysen, who took on the role in September, ꧒said the macroeconomic environment “remains challenging for our industry and for our customers.” He added customers have become “increasingly cautious and constrained” in their purchasing decisions. 

Illumina was down 8% in late trading🐟 Friday and was the worst-performing stock in the S&P 500.

-Bill McColl

🐬Maker of Johnny ✨Walker & Smirnoff Warns on Profit, Shares Tank

Shares of Diageo (DEO) plunged after 澳洲幸运5开奖号码历史꧟查询:the worldꦿ’s largest spirits maker warned its profit and revenue will be 🐽hurt by falling demand in Latin Ameriꦓca and the Caribbean.

The owner of such brands as Johnnie Walker whisky, Smirnoff Vodka and Guinness beer said that it anticipates slower growth in the first half of fiscal 2024 than in the second half of fiscal 2023. It said that was because of “a materially we🌳aker performance outlook in Latin America and Caribbean,” which accounted for almost 💛11% of the company’s net sales in 2023.

Diageo explained that it sees 澳洲幸运5开奖号码历史查询:organic net sales tumbling by more than 20% year-over-year in Latin America and the Caribbean. The company pointed to “♔macroeconomic pressures in the region” that are resulting 💎in lower consumption and consumer down-trading. It added that those impacts “are slowing down progress in reducing channel inventory to appropriate levels for the current environment.” 

Diageo’s outlook for its other four regions - North America, Africa, Europe, and Asia Pacific - calls for increasing revenue during the first half. However, it expects overall organic 澳洲幸运5开奖号码历史查询:operating profit growth in the period to be below 2023’s gains. 

Diageo 澳洲幸运5开奖号码历史查询:American Depositary Receipts trad💜ed in the U.S. were down 11% in mid-afternoon trading Friday, at their lowest level in three years.

-Bill McColl

Michig🦩an Consume📖r Sentiment Index Fell for 4th Straight Month

High borrowing costs and persistent worries about inflation are beginning to drag more heavily on consumers’ optimism over the economy, according to澳洲幸运5开奖号码历史查询: consumer sentiment survey results thaꦰt showed a decline for the f𒊎ourth-consecutive month. 

The 澳洲幸运5开奖号码历史查询:Michigan Index of Co⛦nsumer Sentiment preliminary November reading of 60.4 was lower than the 63.7 survey result that economists expected to see and a sharp drop from the 澳洲幸运5开奖号码历史查询:63.8 reading for October.

The steep decline in sentiment was spurred by growing concerns about🅰 the negative impact that high interest rates are having. “Overall, lower-income consumers and younger consumers exhibited the strongest declines in sentiment,” wrote Joanne Hsu, director of the University of Michigan’s survey of consumers.

The closely-watched survey comes as Federal Reserve Chair Jerome Powell has said that interest rates could need to be 澳洲幸运5开奖号码历史查询:raised even further to combat inflation. The current federal funds interest rate is at a 22-year high at 5.25% to 5.5%, which has pushed rates higher for other loans, like mortgage rates that are 澳洲幸运5开奖号码历史查询:currently around 7.9, just lower than 30-year high rates 🙈hit in October.  

The monthly survey also showed that consumers’ view of curren🏅t economic conditions dropped almost 7% to 65.7 in November, down from October’s 70.6, while the index of consumer expectations declined 4% to 56.9 from 59.3. 

-Terry Lane

Midday Market Movers

Hologic (HOLX): The medical technology company's shares were up 6% after the company posted better-than-expected results and announced a $500 million accelerated 澳洲幸运5开奖号码历史查询:share repurchase program. 

Meta Platforms (META): Shares rose 2.1% after a re♈port the social media giant would be returning to the China market by selling a lower-priced virtual reality headset there.

Broadcom (AVGO): Shares advanced 4% on optimism the chipmaker’s $61 billion acquisition of VMWare (VMW) will get regulatory approval. 

Illumina (ILMN): Shares of🐼 the ꦛbiotech company tumbled 12% as it it slashed its guidance on slowing demand for its genetic research equipment.

Wynn Resorts (WYNN): The casino operator's shares fell 5.3% as revenuꦯe at its Macau loc꧂ation was less than anticipated.

The Trade Desk (TTD): Shares of the ad technology provider dropped 18% ๊after the company gave lower-than-expected guidance on a pullback in 🎃advertising spending in certain businesses.

-Bill McColl

5 Things to Know Before Markets Open

Here’s what investors 澳洲幸运5开奖号码历史查询:need to know to start their day:

1. Meta Platforms (META) reportedly reached an agreement with Tencent Holdings to sell a new, lower-priced version of its virtual-reality headset in China, opening the country to the social media giant 14 years after a ban.
2. The Trade Desk (TTD) shares plummeted 24% in the pre-market after the ad-tech company reported fourth-quarter revenue guidance of $580 million, below the $610 million that analysts expected.
3. Chinese media reports indicated that the U.S. chipmaker Nvidia (NVDA) had developed three new high-end chips that it could sell to Chinese companies while staying in compliance with U.S. curbs on chips sales to China.
4. Shares of Plug Power (PLUG) tumbled 34% in pre-market trading after it reported being squeezed by supply issues and inflationary costs, as the company said it will need additional capital to fund its operations.
5. At 10 a.m. ET, the 澳洲幸运5开奖号码历史查询:Michigan Consumer Sentiment Index preliminary reading for November is expected to fall to 63.7 from 澳洲幸运5开奖号码历史查询:October’s 63.8 figure.
   

Futu💛res tied to the S&P 500 were up about 0.3%.