1 hour ago
VanEck Semiconductor ETF closes at record high on Nvidia’s rise
The closely watched VanEck Semiconductor ETF (SMH) soared more than 2% on Monday, closing at a record high of 235.00.
The ETF rose as Nvidia’s stock rose about 2.5% as Wall Street anticipated the semiconductor giant’s earnings report to be released Wednesday afternoon.
Prior to the earnings release, Baird reiterated his buy rating on the stock and raised his price target from $1,050 to $1,200. Meanwhile, tech investor Dan Niles said Nvidia stock is cheap on earnings.
It was also a solid day for fellow SMH constituents Broadcom, which rose 1.3%, and Qualcomm, which rose 2%. Micron Technology closed up nearly 3% on Monday.
–Darla Mercado, Gina Francola
2 hours ago
Stock prices move significantly during after-hours trading
Below are some stocks that made notable moves after the bell.
- Palo Alto Networks — Stock price fell 8.5%. The fiscal third quarter beat expectations on both counts, but guidance for the quarter was broadly in line with expectations from analysts surveyed by his LSEG.
- Peloton — Shares fell 2.1% after the fitness company announced a refinancing. The company is issuing $275 million in convertible notes through a private placement.
- Keysight Technologies — Shares fell 2.7% following weak outlook for the current quarter. The company said it expects non-GAAP earnings per share to be in the range of $1.30 to $1.36 and revenue in the range of $1.18 billion to $1.2 billion. Analysts polled by FactSet had expected earnings of $1.45 per share and revenue of $1.21 billion.
— Alex Harring
2 hours ago
Ether leads crypto gains as ETF optimism grows late
Cryptocurrency prices rebounded on Monday amid late-game optimism over the U.S. Securities and Exchange Commission’s decision on the Spot Ether exchange-traded fund (ETF) filing expected this week. The previous consensus was that the fund was unlikely to be approved.
Ether led the cryptocurrency market, surging about 15% to nearly $3,500, according to Coin Metrics, while Bitcoin rose more than 4%, briefly hitting $70,000 for the first time since April.
In regular trading, crypto stocks rode the wave, with Coinbase and MicroStrategy rising 8% and 9%, respectively. Miners Marathon Digital and Clean Spark each advanced 14%.
— Tanaya Machel
2 hours ago
Stock futures almost flat
Stock futures were little changed after 6pm ET.
Nasdaq 100 futures were down just about 0.1%, and S&P 500 futures and Dow futures both had modest moves.
Alex Harring
