Welcome to Extreme Investor Network, where we bring you the latest updates on the companies and stocks making headlines in the finance world. Today, we are diving into the recent movements of some key players in the market.
Chinese stocks have taken a hit as U.S.-listed shares of Chinese companies fell after China’s state planner failed to announce any new economic stimulus plans. This led to a decline in companies like Bilibili, Nio, PDD, JD.com, and Alibaba. The impact also spread to casino operators Wynn Resorts and Las Vegas Sands, which have resorts in Macau, China.
On the other hand, some companies saw positive movements in their stock prices. DocuSign climbed more than 5% after news that it will replace MDU Resources in the S&P 500 MidCap 400 index. Super Micro Computer saw a 4% increase after announcing a deployment of graphics processing units with its liquid cooling solution for AI factories. Nvidia also experienced a 2% uptick following positive comments from Foxconn chairman about the demand for their upcoming Blackwell chip.
In the banking sector, Wells Fargo rose more than 1% after an upgrade to outperform from Wolfe Research. Humana’s shares also rose nearly 1% after an upgrade to outperform from Bernstein. However, Microsoft saw a slight decrease after being downgraded by Oppenheimer due to concerns about estimated losses at OpenAI.
Lastly, PepsiCo edged down less than 1% after third-quarter revenue came in lighter than expected. Despite reporting $2.31 in adjusted earnings per share on $23.3 billion of revenue, the company also lowered its outlook for organic revenue.
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