Shares of online home goods retailer Wayfair (NYSE:W)
jumped 3.5% in the afternoon session after Wall Street analysts reacted positively to the company's recent impressive second-quarter earnings report. Citigroup upgraded its rating on the stock to "buy" from "neutral," while JPMorgan Chase & Co. raised its price target to $82.00. This analyst optimism stemmed from Wayfair's recent announcement of its strongest quarterly results since 2021. The online furniture retailer posted revenue of $3.3 billion, a 5% year-over-year increase. More notably, its earnings per share of $0.87 dramatically surpassed the consensus forecast of $0.33, signaling a potential recovery in the home goods market and prompting the positive actions from Wall Street.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Citigroup (NYSE:C) and the best and worst performers in the diversified banks industry.
Shares of digital media company Ziff Davis (NASDAQ:ZD) fell 3.2% in the morning session after news of significant job cuts and a series of analyst downgrades soured investor sentiment. The digital media company planned to reduce its workforce by 12-15% at properties like IGN and CNET. This move happened despite a 4.5% increase in first-quarter revenue. However, the company's adjusted EBITDA, a key profit metric, decreased, and its free cash flow became negative, which sparked investor skepticism. Consequently, the stock touched a new 52-week low. Several analysts, including those at Citigroup and JPMorgan, reacted by lowering their price targets for Ziff Davis.
Just six weeks after lowering its forecast and warning that gold could drop below $3,000 before the end of the year, Citibank now projects gold will hit $3,500 an ounce over the next three months.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Bank of America (NYSE:BAC) and the best and worst performers in the diversified banks industry.
The financials sector has been strong all year, and with interest rate cuts on the table later this year, investors looking for exposure can turn to this ETF.
Citigroup Inc. (NYSE:C) raised its three-month gold price forecast to $3,500 per ounce from $3,300 on Monday, citing deteriorating U.S. growth and inflation outlook.
A number of stocks fell in the morning session after a surprisingly weak July jobs report and the announcement of sweeping new tariffs fueled fears of an economic slowdown and an impending interest rate cut.
Shares of blockchain infrastructure company Coinbase (NASDAQ:COIN) fell 15.3% in the morning session after the company reported disappointing second-quarter financial results that fell short of Wall Street's expectations.
As the Q2 earnings season wraps, let’s dig into this quarter’s best and worst performers in the diversified banks industry, including U.S. Bancorp (NYSE:USB) and its peers.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at diversified banks stocks, starting with Truist Financial (NYSE:TFC).
Shares of blockchain infrastructure company Coinbase (NASDAQ:COIN) jumped 3.6% in the morning session after it announced a strategic partnership with JPMorgan Chase to make cryptocurrency more accessible to the bank's customers.
