1. Markets
Stock futures remained relatively unchanged Wednesday morning. The Nasdaq 100 rose slightly, while the Dow Jones futures fell by 11 points. The Nasdaq Composite was down 1.01%, partly due to a hit in semiconductor stocks after ASML's earnings report but remained close to record highs.
2. ASML Stock Drop
ASML's early release of disappointing earnings led to a 16% drop in shares. Although sales exceeded expectations, net bookings came in far below estimates, negatively affecting other semiconductor stocks such as Nvidia and AMD.
3. Strong Earnings for U.S. Banks
Major banks, including Bank of America, Goldman Sachs, and Citigroup, posted better-than-expected earnings. Bank of America’s net income was down 12% but still beat analyst predictions. Morgan Stanley is set to report next.
4. Walgreens Plans Closures
Walgreens announced it will close around 1,200 stores over the next three years to improve its store base. The company’s fiscal fourth-quarter earnings exceeded expectations, and shares rose by 13% after the announcement.
5. Raiders' New Minority Owners
Tom Brady and Tom Wagner were approved as minority owners of the Las Vegas Raiders. They purchased a 10% stake, valued at $3.5 billion, significantly below the team's estimated value of $7.8 billion.
Stock futures remained relatively unchanged Wednesday morning. The Nasdaq 100 rose slightly, while the Dow Jones futures fell by 11 points. The Nasdaq Composite was down 1.01%, partly due to a hit in semiconductor stocks after ASML's earnings report but remained close to record highs.
2. ASML Stock Drop
ASML's early release of disappointing earnings led to a 16% drop in shares. Although sales exceeded expectations, net bookings came in far below estimates, negatively affecting other semiconductor stocks such as Nvidia and AMD.
3. Strong Earnings for U.S. Banks
Major banks, including Bank of America, Goldman Sachs, and Citigroup, posted better-than-expected earnings. Bank of America’s net income was down 12% but still beat analyst predictions. Morgan Stanley is set to report next.
4. Walgreens Plans Closures
Walgreens announced it will close around 1,200 stores over the next three years to improve its store base. The company’s fiscal fourth-quarter earnings exceeded expectations, and shares rose by 13% after the announcement.
5. Raiders' New Minority Owners
Tom Brady and Tom Wagner were approved as minority owners of the Las Vegas Raiders. They purchased a 10% stake, valued at $3.5 billion, significantly below the team's estimated value of $7.8 billion.