Microsoft, Meta, Nvidia, Qualcomm And Robinhood: Why These 5 Stocks Are On Investors' Radars Today
U.S. markets ended mixed on Wednesday. The Dow Jones Industrial Average slipped 0.4% to 44,461.28, while the S&P 500 edged down 0.1% to 6,362.90. The tech-focused Nasdaq inched up 0.15% to 21,129.67 as several companies reported earnings.
The Federal Reserve’s decision to maintain interest rates at 4.25%-4.50% was widely expected. However, the dissent from two permanent members of the Fed’s Board of Governors marked a significant moment not seen since 1993. This internal division has led to increased speculation about potential rate cuts in September.
Despite the steady performance of major indices, several individual stocks captured the spotlight. These are the top stocks that gained the attention of retail traders and investors throughout the day:
Microsoft Corporation (NASDAQ:MSFT)
Microsoft’s stock saw a slight increase of 0.13%, closing at $513.24. The day’s trading ranged between $509.44 and $515.95, with a 52-week high of $518.29 and a low of $344.79. However, the stock shot up 8.3% in the after-hours session to $555.74. The technology giant reported strong fourth-quarter earnings, with CEO Satya Nadella highlighting the role of cloud and AI as key growth drivers. Revenue for the period came in at $76.44 billion, up 17% year-over-year.
Meta Platforms Inc (NASDAQ:META)
Meta’s shares fell by 0.68%, closing at $695.21. The stock reached an intraday high of $708.50 and a low of $691.20, with a 52-week high of $747.90 and a low of $450.80. The stock shot up 11.5% to $775.10 in the after-hours trading. The company exceeded second-quarter earnings estimates and issued optimistic guidance, contributing to its recent surge to new highs. Revenue was recorded at $47.52 billion in the period, which exceeded analyst estimates of $44.58 billion. Earnings per share were $7.14, which beat estimates of $5.79 per share.
NVIDIA Corporation (NASDAQ:NVDA)
Nvidia’s stock rose by 2.14%, closing at $179.27. It traded between $176.04 and $179.89, with a 52-week high of $179.89 and a low of $86.63. In the after-hours session, the shares spiked nearly 2.3%. The company’s plans to resume shipments of H20 AI chips to China, following U.S. government approval, have bolstered investor confidence.
Qualcomm Inc (NASDAQ:QCOM)
Qualcomm’s stock declined by 1.86%, closing at $159.06. The day’s range was $158 to $163.27, with a 52-week high of $182.10 and a low of $120.80. The stock declined by 5% to $151.10 in the after-hours trading. The company reported a double beat in its third-quarter earnings, with record auto revenue contributing to its financial performance. For the period, revenue came in at $10.365 billion, an increase of 10% on a year-over-year basis. The company provided fourth-quarter guidance in the range of $10.3 billion to $11.1 billion, compared to a Street consensus estimate of $10.6 billion.
Robinhood Markets Inc (NASDAQ:HOOD)
Robinhood’s stock surged by 2.69%, closing at $106.10. It reached an intraday high of $107.46 and a low of $103.35, with a 52-week high of $113.44 and a low of $13.98. In the second quarter, the company recorded a revenue of $989 million, which is a 45% increase on a year-over-year basis. The trading platform reported a strong second-quarter performance, with crypto revenue nearly doubling, driving investor interest.
Benzinga's Edge Stock Rankings indicate Microsoft has a Momentum in the 76th percentile and Quality in the 41st percentile. Find out how Meta scores here.
Prepare for the day’s trading with top premarket movers and news by Benzinga.
Photo Courtesy: Supawat Bursuk on Shutterstock.com
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
