Official: Idaho computer chip plant makes US more resilient
Energy Secretary Jennifer Granholm says a $15 billion investment in a new semiconductor plant by Boise, Idaho-based chipmaker Micron in its hometown is a step in protecting the United States from the vulnerabilities of a globalized market made clear by the COVID-19 pandemic and the war in Ukraine.
Stocks making the biggest moves midday: Micron, Boeing, Beyond Meat, Slack & more
Check out the companies making headlines midday Thursday:Micron Technology Shares of the semiconductor company rose 6.8% Thursday after beating Wall Street expectations on the top and bottom lines for its second fiscal quarter. Boeing Boeing jumped another 14%, bringing its gains this week to a whopping 91%. Beyond Meat An analyst at Goldman Sachs downgraded Beyond Meat to sell from neutral, sending the stock down 4%. Henry Schein Henry Schein shares climbed more than 13% after the health care company announced a new rapid coronavirus antibody test is available. UnitedHealth UnitedHealth shares gained 4.8% after the health services company said it is developing a self-administered coronavirus test.cnbc.com
Jim Cramer breaks down how to discover overlooked stock picks in this bull market
The way to start, according to CNBC's Jim Cramer, is a process called a "read-through." To illustrate the process, Cramer took a look at two of the best read-throughs of Thursday's session, which saw all three major averages again close at record highs. With Micron, President and CEO Sanjay Mehrotra has been a straight shooter about both the good and bad facing the company, Cramer said. So when Mehrotra says the current quarter is the "trough" for the business, you can believe him, Cramer said. Cramer emphasized that the read-through process is just a starting point, and "you never just buy any of these stocks."cnbc.com
Jim Cramer: 'It's a mistake to freak out about the impeachment process'
CNBC's Jim Cramer on Wednesday said investors on Wall Street care more about company fundamentals than they care about the impeachment process in Washington, D.C.As the House debated impeaching President Donald Trump throughout the day, the major U.S. stock averages barely moved. The Dow Jones Industrial Average slipped 0.10%, and the S&P 500 dipped 0.04%. The Nasdaq Composite rose 0.05%. "While the impeachment debate didn't seem to do much damage, a late wave of selling was, indeed, met with almost no buyers today, and that's not what you want to see if you're hoping for smooth sailing going forward into year end," the "Mad Money" host said. "Still, even if we have a few down days coming up ... market history says it's a mistake to freak out about the impeachment process."cnbc.com
Stocks making the biggest moves after hours: Micron, Herman Miller, PG&E and more
Micron earned 48 cents per share excluding certain items on revenue of $5.14 billion, topping the earnings of 47 cents per share and revenue of $5.01 billion analysts expected. Herman Miller shares tanked more than 9% after the office and home furnishing company topped earnings expectations in its second quarter but gave a mixed outlook for the third quarter. The company earned 88 cents per share on revenue of $674 million, while analysts expected earnings of 87 cents per share and revenue of $631 million, according to Refinitiv consensus estimates. For the third quarter, Herman Miller said it expects earnings between 68 cents to 72 cents per share on an adjusted basis, falling short of the 75 cent EPS expected. The company's revenue outlook range of $672 million to $692 million fell within Wall Street's estimate of $675 million.cnbc.com
Stocks making the biggest moves midday: Micron, FedEx, Slack, General Mills, Paychex
Micron Technology Micron jumped 13.3% after the chipmaker beat expectations in its fiscal third-quarter report. The company reported adjusted earnings of $1.05 per share on revenue of $4.79 billion. Micron CEO Sanjay Mehrotra also told analysts that the company had resumed shipments to Chinese technology company Huawei. FedEx FedEx shares rose 2.5% after the company reported adjusted quarterly profit of $5.01 per share, beating a Refinitiv estimate of $4.85. BlackBerry BlackBerry shares tumbled more than 8% after the tech company reported a weaker-than-expected revenue for its biggest business.cnbc.com