26 minutes ago
Carson Group’s Mr. Detrick says he wants people to stop selling in May and disappearing.
Ryan Detrick, chief market strategist at Carson Group, believes the market is currently overdue for an April stock correction, despite the common adage, “Sell in May and be gone.”
“Instead of just blindly investing in seasonality, you tend to get a lot of leverage in the summer of election years,” Detrick said Monday on CNBC’s “Closing Bell.”
Detrick said he is overweight in cyclical stocks and added exposure to industrials and financials last month. The strategist added that mid-cap stocks and some small-cap stocks could also grow this year.
— Ha-Kyung Kim
49 minutes ago
Stock prices move significantly after hours
Check out the companies making headlines for extended deals.
Palantir Technologies — Shares fell more than 8% after the company issued a weaker-than-expected outlook for full-year sales. LSEG said first-quarter adjusted earnings of 8 cents per share were in line with expectations. Meanwhile, quarterly revenue was $634 million, beating expectations of $625 million.
Lucid Group — The electric vehicle maker fell about 10% following its first-quarter results. According to LSEG, even though sales were slightly higher, the company posted a loss of 30 cents per share under generally accepted accounting principles. Lucid also reaffirmed its production forecast for 2024 at approximately 9,000 units.
Hims & Hers Health — The telehealth consultation platform soared 11.1% post-market after its second-quarter revenue outlook beat analysts’ expectations. According to LSEG, Hims & Hers expects sales to be in the range of $292 million to $297 million, compared to analysts’ expectations of $288 million. First quarter results also exceeded street expectations.
A complete list can be found here.
— Ha-Kyung Kim
1 hour ago
Stock futures were slightly lower on Monday.
U.S. stock futures were little changed on Monday night.
Dow Jones Industrial Average futures fell 8 points, or just 0.02%. S&P 500 futures and Nasdaq 100 futures also fell less than 0.1% each.
— Ha-Kyung Kim
