Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 8, 2024.
Brendan McDermid | Reuters
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Here’s what CNBC TV’s producers were watching during the rebound and what’s on the radar for the next session.
E.l.f. Beauty blew past Wall Street estimates, posting a 50% gain in sales in its fiscal first quarter. That follows a 76% jump in the year-ago period. On its post-earnings conference call, the company said to expect higher container and transportation cost headwinds in FY25. Shares rose 3.4% during the regular session, but fell 10% in after-hours trading.
Paramount Global added 5% after the closing bell – after dropping 2.4% during the regular trading day. The company’s streaming division swung to an unexpected profit for the first time ever. Paramount also announced it is cutting 15% of its U.S. workforce, as part of broader cost savings. CNBC TV’s Julia Boorstin will have the latest.
Sweetgreen soared more than 20% after the closing bell. The company boosted its full-year sales outlook. Earnings missed, with a loss of 13 cents per share versus the Street’s estimates of a loss of 10 cents a share. Revenue came in at $185 million, beating estimates of $181 million.
Sweetgreen’s year-to-date performance
Archer Aviation tumbled in after-hours trading, after reporting quarterly results. The company also unveiled plans for a Los Angeles air taxi network, as soon as 2026. CNBC TV’s Phil LeBeau will cover the story on Friday.
—Jill Schneider
Renovation nation
Lowe’s is 10% from the 52-week high. The stock is down 1.7% week to date, but it’s up 6% in 2024.
Bonds in the U.S.A.
Magnificent gains for the Magnificent Seven
Meta Platforms was up 4.2% in Thursday’s rally. The stock is 6% from the July 8 high.
Tesla added 3.7% in the session. The stock is 28.7% from the September high.
Alphabet was up nearly 2%. The stock is 15.5% from the July high.
Amazon was up 1.86% Thursday. The stock is 17.6% from the July high.
Apple was up about 1.7%. The stock is 10% from the July high.
Microsoft closed 1% higher. The stock is 14% from the early July high. Thursday was the S&P 500‘s best session since November 2022. Tech was the best performing sector of the day, while Communication Services was second.
S&P 500’s five-day performance
Delta Air Lines and CrowdStrike
Make-up
Ulta Beauty is 43% from the March high.
Estee Lauder is down 45% in the last year.
Coty is 30% from the February high.
—Jason Gewirtz
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Conclusion:
In conclusion, the stock market saw some interesting movements in various sectors. Companies like E.l.f. Beauty, Paramount Global, Sweetgreen, and others experienced ups and downs in their stock prices after-hours and during regular trading sessions. It’s always important for investors to keep track of such fluctuations and understand the underlying reasons for them.
Additionally, the real estate and bond markets are also undergoing shifts that investors should pay attention to. From home renovations to potential rate cuts by the Federal Reserve, there are various factors influencing these markets.
Overall, staying informed and making informed decisions based on market trends and analysis is key to successful investing. Keep an eye on the latest news and developments to navigate the market effectively.
