S&P 500 wavers as PayPal plunge dents financials, but 5,000 mark remains in view
was roughly unchanged Thursday, weighed down by financials, though continued to keep the 5,000 level in sight as the quarterly earnings season continued.) fell more than 10% to lead the broader financial sector lower after the payment processing company said it expects full-year earnings to be $5.
10 a share, missing estimates of $5.48. The softer guidance offset quarterly results that beat estimates on both the top and bottom line.s The guidance"calls for roughly flattish growth for both transaction gross profit dollars and non-GAAP EPS," UBS said in a note, suggesting fiscal 2024 will be the third consecutive year of total company gross profit growth hovering around the ~0% growth level."), meanwhile, jumped more than 12% after the media and entertainment company's delivered better-than-expected fiscal Q1, hiked its quarterly dividend by 50% and reinistated a $3B share buyback plan this year. Disney also announced new deals and upcoming events that is likely to boost performance including a major foray into the gaming business, with a $1.5B stake in EPIC Gamess. Most of the newsflow was"nearly all positive," Macquarie Equity Research said in a note, but still questioned"the offset to the linear networks from direct-to-consumer advances, and the time it will take to bring about meaningful.") holdings surged 56% after the chip designer's current quarter guidance topped Wall Street estimates following fiscal Q3 results that beat analyst estimates. The upbeat guidance was driven by strong AI-led demand for its chip designs, which are licensed by major tech firms including Google, Nvidia, Apple."t's extremely impressive that management has been able to navigate the current macro environment," Wedbush said as it lifted its price target on the stock to $172 from $125. Ralph Lauren's average unit retail growth is expected to remain positive, Wedbush added, but at a"lower rate because they have less inflationary costs to pass on to the consumer."in the week ended Feb. 3 fell by 9,000 to 218,000, adding to a slew of recent data showing the labor market remains strong. The recent strength in the labor market, which threatens to boost wages and inflation, has muddied investor expectations on aggressive Federal Reserve rate cuts this year. Richmond Fed president Tom Barkin on Thursday acknowledged that"robust" economic growth and a strong tight labor market gives the Fed time to hold off starting the"process of toggling rates down."We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.Title correction: "Companies continue to report terrible earnings and plunge in price as Fed also comes out and reports no rate drops, but market holding on for no reason" {username} Just Now Share Follow this postUnfollow this post Save Saved. See Saved Items . This comment has already been saved in your Saved Items Block User Author's response{commentContent} Reply 00 Report {username} Just NowAuthor's response Share Follow this postUnfollow this post Save Saved. See Saved Items . This comment has already been saved in your Saved Items {commentContent} Reply 00 Report Show more comments Show more replies Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.