ADVFN US – Market Content Editor
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Nasdaq Posts Steep Loss But Dow Closes Little Changed After Hitting Record High
After ending Monday’s choppy session little changed, stocks moved mostly lower over the course of the trading day on Tuesday. The tech-heavy Nasdaq posted a particularly steep loss, although the Dow ended the day roughly flat. The Nasdaq ended the day just off its lows of the session, tumbling 314.82 points or 1.5 percent to…
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Tesla Faces Class Action Over Self-Driving Claims
Tesla (NASDAQ:TSLA) is now required to confront a certified class action lawsuit filed by California drivers who allege that Elon Musk misled them regarding the self-driving capabilities of the company’s electric vehicles over an eight-year span. U.S. District Judge Rita Lin approved the collective lawsuit, allowing two groups of Tesla owners who purchased the Full…
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SFL Shares Drop After Dividend Cut Amid Weak Drilling Market
SFL Corporation (NYSE:SFL) saw its stock decline 12% following a reduction in its quarterly dividend, lowered to $0.20 per share from the previous $0.27. The company cited challenges in the drilling rig market and tighter near-term cash flow as the reason for the cut. The shipping and energy firm reported second-quarter earnings of $0.01 per…
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AMD Continues to Expand CPU Market Share, Says Bernstein
Advanced Micro Devices (NASDAQ:AMD) is steadily taking market share from Intel (NASDAQ:INTC) in the central processing unit (CPU) sector, according to analysts at Bernstein. In a note reviewing second-quarter trends, Bernstein highlighted that the PC market outperformed expectations, with shipments rising roughly 7% year over year and surpassing pre-COVID levels. Although oversupply persisted in some…
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Aurora Shares Slide After Bearish Report from Kerrisdale Capital
Aurora Innovation (NASDAQ:AUR) shares dropped 3% on Tuesday following the release of a short report from Kerrisdale Capital questioning the autonomous trucking company’s commercial prospects. In its analysis, Kerrisdale argued that Aurora’s autonomous trucking model faces substantial obstacles that could prevent it from becoming a sustainable business. The short seller claimed that the technology would…
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SoFi Shares Climb Following Partnership with Lightspark for Blockchain Transfers
Shares of SoFi Technologies Inc (NASDAQ:SOFI) rose 2.7% after the company revealed a collaboration with Lightspark to enable blockchain-based international money transfers directly within the SoFi app. The fintech firm plans to roll out the service later this year, aiming to become one of the first U.S. banks to provide remittances powered by blockchain. The…
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Robinhood Shares Climb Following Launch of Football Prediction Markets
Shares of Robinhood Markets (NASDAQ:HOOD) rose on Tuesday after the company unveiled new professional and college football prediction markets on its platform, while rivals DraftKings (NASDAQ:DKNG) and Flutter Entertainment (NYSE:FLUT) slipped 2.4% and 1%, respectively. Robinhood has incorporated football prediction contracts directly into its app via the Prediction Markets Hub, enabling users to trade on…
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U.S. Home Prices Slip for Third Month in a Row in July
U.S. housing prices fell by 0.1% in July on a seasonally adjusted basis, marking the third consecutive month of declines, according to a new report from real estate firm Redfin (NASDAQ:RDFN). Annual price growth slowed to 2.9%, the weakest pace recorded since Redfin began compiling its Redfin Home Price Index (RHPI) in 2012. The RHPI,…
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U.S. Residential Construction Surges Unexpectedly in July
Data released Tuesday by the Commerce Department revealed a surprising uptick in new residential construction across the United States in July. According to the report, housing starts jumped 5.2% to a seasonally adjusted annual rate of 1.428 million units, following a revised 5.9% increase in June that brought the total to 1.358 million. Economists had…
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Dow Jones, S&P, Nasdaq, Wall Street Futures, Volatile Trading Expected Ahead of Fed Minutes and Powell Speech
U.S. stock futures indicate a mostly flat start on Tuesday, suggesting that markets may continue the muted performance seen in Monday’s session. Investors are likely to remain cautious ahead of several significant economic events later this week, including the release of the Federal Reserve’s latest policy meeting minutes on Wednesday and the start of the…