A number of stocks fell in the afternoon session after the major indices continued to pull back, with technology stocks accounting for most of the market's largest decliners.
A number of stocks fell in the afternoon session after the major indices continued to pull back, with technology stocks accounting for most of the market's largest decliners. A key reason for this trend is that much of the recent market gains were concentrated in the "AI trade," which includes these large technology and semiconductor companies. So this could also mean that some investors are locking in some gains ahead of more definitive feedback from the Fed.
A number of stocks fell in the afternoon session after the major indices continued to pull back, with technology stocks accounting for most of the market's largest decliners. A key reason for this trend is that much of the recent market gains were concentrated in the "AI trade," which includes these large technology and semiconductor companies. So this could also mean that some investors are locking in some gains ahead of more definitive feedback from the Fed.
A number of stocks fell in the afternoon session after the major indices continued to pull back, with technology stocks accounting for most of the market's largest decliners. A key reason for this trend is that much of the recent market gains were concentrated in the "AI trade," which includes these large technology and semiconductor companies. So this could also mean that some investors are locking in some gains ahead of more definitive feedback from the Fed.
A number of stocks fell in the afternoon session after the major indices continued to pull back, with technology stocks accounting for most of the market's largest decliners. A key reason for this trend is that much of the recent market gains were concentrated in the "AI trade," which includes these large technology and semiconductor companies. So this could also mean that some investors are locking in some gains ahead of more definitive feedback from the Fed.
CFO Akhil Shrivastava said while there were early signs of stabilization in Mainland China, travel retail conversion continues to be weak and challenges persist in the West, including subdued consumer sentiment in the U.S. and Western Europe.
GBP/USD tumbles during the North American session, with traders shrugging off high inflation in the United Kingdom (UK) as the White House pressures Federal Reserve (Fed) Governor Lisa Cook to step aside from the board.
Shares of SoundHound AI are falling again during Wednesday's trading session. The move lower in recent sessions comes at odds with the company's recent string of overwhelmingly positive developments.
A second day of selling pressure hit technology stocks tied to the AI theme on Wednesday, as sentiment cooled after an MIT report questioned the broad profitability of the new technology.
Amid strong selling pressure, the EUR/USD exchange rate has fallen to its lowest levels, near the 1.1630 support. The pair's losses came as the market's focus shifted to geopolitical developments and US-led efforts to mediate a deal in Ukraine.
Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are testing crucial support levels following sharp corrections from recent highs, with traders closely monitoring whether these zones
In the second quarter of 2025, revenue fell 4% compared to last year, hitting 32.71 billion yuan ($4.56 billion), which was a little below what analysts were expecting.
Shares of online used car dealer Carvana (NYSE: CVNA)
fell 3.8% in the afternoon session after Hertz Global Holdings announced it will begin selling certified used cars on Amazon.com, a move that introduces a significant new competitor into the online vehicle market. The move allows shoppers to browse, finance, and purchase Hertz's pre-owned vehicles through the e-commerce giant's platform, Amazon Autos. This development is viewed as a direct challenge to Carvana's online sales model, raising concerns about increased competition in the digital used car market. Investors appear worried that the partnership between Hertz and Amazon could negatively impact Carvana's sales and market share. Furthermore, the new arrangement could lead to fewer of Hertz's used vehicles being sold through the Carvana platform, directly affecting its inventory and sales channels.
Shares of digital banking platform Nubank (NYSE:NU) jumped 3.7% in the afternoon session after receiving a rare double upgrade from Citi, which significantly boosted its rating on the stock. The firm issued a rare double upgrade, shifting its rating on the stock from “Sell” all the way to “Buy” and doubling its price target to $18 from $9. This dramatic shift in perspective follows Nu Holdings' strong second-quarter performance, which showed robust profit and revenue growth. Citi cited the potential for an earnings boost as a key reason for the change.
Shares of beauty products company Estée Lauder (NYSE:EL)
fell 4.9% in the afternoon session after the company reported a sharp decline in sales for its fourth quarter and provided a weaker-than-expected forecast for the upcoming fiscal year. Revenue for the quarter fell 11.9% year on year to $3.41 billion, meeting Wall Street’s expectations. However, other key metrics disappointed investors. While adjusted earnings of $0.09 per share met analyst estimates, it marked a significant drop from $0.64 in the same quarter last year. Furthermore, the company reported an adjusted EBITDA loss of $180 million, substantially missing analyst projections of a $318.8 million profit. Compounding the weak results, Estée Lauder issued guidance for its 2026 fiscal year with adjusted earnings per share expected to be between $1.90 and $2.10. The midpoint of this range is nearly 10% below the consensus analyst forecast, raising concerns about the company's profitability outlook.
