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Dow Closes Above 30,000 at a New Record High
It was a day for the record books as the Dow Jones Industrial Average crossed and closed above 30,000 for the first time in history.
Investopedia · 6h ago
Dell Reports Revenue That Tops Estimates on Robust PC Demand
(Bloomberg) -- Dell Technologies Inc. reported quarterly revenue that topped analysts’ estimates, in a sign of robust demand for the company’s personal computers during the pandemic-fueled work-from-home period.Sales climbed 2.8% to $23.5 billion in the period that ended Oct. 30, the Round Rock, Texas-based company said Tuesday in a statement. Analysts, on average, expected $21.9 billion, according to data compiled by Bloomberg. Profit, excluding some items, was $2.03 a share compared with analysts’ average estimate of $1.42.Chief Executive Officer Michael Dell has sought to modernize his namesake company by moving to a subscription-based business model. Dell Technologies is letting clients pay for software and hardware as they go rather than upfront, which will generate more predictable, recurring revenue. The company formed a pact with FedEx Corp. and Switch Inc. earlier this month to develop a U.S.-based private cloud network hosted in FexEx facilities, giving customers an alternative to corporate server farms and public cloud services from Amazon.com Inc. or Microsoft Corp.“We met unprecedented demand for remote work and learn solutions,” Chief Operating Officer Jeff Clarke said in the statement.Dell shares gained 3% in extended trading after closing at $70.33 in New York. The stock has increased 37% this year.Revenue from consumer PCs jumped 14% to $3.5 billion in the fiscal third quarter, the company said. PC sales to business and government clients increased 5.4% to $8.78 billion.Server and networking sales fell 1.8% to $4.16 billion, while storage hardware revenue declined 7% to $3.86 billion.Sales from VMware Inc., a software maker majority-owned by Dell, rose 8% to $2.89 billion. The publicly traded company offers software for data centers as well as programs that let employees access their corporate systems to work remotely. Dell is considering plans to spin off VMware, but won’t make a decision until after September 2021.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Bloomberg · 8h ago
Dow 30,000 could draw in investors from the sidelines with more stocks participating in the next leg
The Dow's rally through 30,000 could draw in sidelined cash and broaden market leadership, as investors bet on financials and other underperformers.
CNBC.com · 10h ago
Dow Tops 30,000 For First Time Ever
The Dow Jones Industrial Average topped 30,000 for the first time as investors bet on a strong economic recovery despite the resurgence of the virus and economic challenges.
Investopedia · 10h ago
Do Hedge Funds Still Love Microsoft Corporation (MSFT)?
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds’ and successful investors’ positions as of the end of the third quarter. You can find articles about an individual hedge fund’s trades on numerous financial […]
Insider Monkey · 11h ago
Elon Musk becomes world's second richest person
The tech billionaire overtakes Bill Gates after Tesla shares soar on S&P; acceptance
BBC · 11h ago
Wall Street thinks these 5 stocks will lead the Dow to its next big milestone
CNBC used FactSet to screen for the Dow stocks with at least 10% upside to their 12-month price target.
CNBC.com · 12h ago
Elon Musk is now the second richest man in the world, surpassing Bill Gates
Elon Musk is now the second richest man in the world. CNBC's Robert Frank breaks down the numbers and what it would take for Musk to pass Jeff Bezos, the richest person in the world.
CNBC.com · 12h ago
Microsoft gets bullish start at KeyBanc Gaming head discusses soft console stock
KeyBanc analyst Michael Turits starts Microsoft (MSFT) with an Overweight rating and $250 price target as part of a broader note on software stocks.Turits thinks Microsoft's combo of hyperscale cloud
Seekingalpha · 13h ago
16 Black Friday And Cyber Monday Stocks You Can't Miss
Thanksgiving Week kicks off the most intense portion of the holiday shopping season for retail stocks. There’s no question holiday season 2020 will be like none other, but some experts believe Americans will be buying big this week, and that could be very good news for retail stocks.
Benzinga · 14h ago
Microsoft (MSFT) Eyes Bigger Share as Console Wars Heat Up
Zacks · 14h ago
Citrix (CTXS) Virtual Desktops Leveraged by Royal Berkshire NHS
Citrix (CTXS) is benefiting from strong uptake of desktop virtualization offerings owing to coronavirus crisis-induced demand for secure and reliable remote work solutions.
Zacks · 15h ago
Benzinga's Top Upgrades, Downgrades For November 24, 2020
Upgrades * B of A Securities upgraded the previous rating for O-I Glass Inc (NYSE: OI) from Neutral to Buy. The current stock performance of O-I Glass shows a 52-week-high of 15.64 and a 52-week-low of 4.305. Moreover, at the end of the last trading period, the closing price was at $11.86. * Goldman Sachs upgraded the previous rating for Nutanix Inc (NASDAQ: NTNX) from Sell to Neutral. Nutanix earned $0.44 in the first quarter, compared to $0.71 in the year-ago quarter. The stock has a 52-week-high of 37.86 and a 52-week-low of 11.31. At the end of the last trading period, Nutanix closed at $28.47. * For General Electric Co (NYSE: GE), Oppenheimer upgraded the previous rating of Perform to the current rating Outperform. General Electric earned $0.06 in the third quarter, compared to $0.15 in the year-ago quarter. The current stock performance of General Electric shows a 52-week-high of 13.26 and a 52-week-low of 5.48. Moreover, at the end of the last trading period, the closing price was at $10.07. * According to B of A Securities, the prior rating for Domtar Corp (NYSE: UFS) was changed from Underperform to Neutral. For the third quarter, Domtar had an EPS of $0.33, compared to year-ago quarter EPS of $0.89. The stock has a 52-week-high of 40.05 and a 52-week-low of 18.4. At the end of the last trading period, Domtar closed at $30.27. * For AerCap Holdings NV (NYSE: AER), B of A Securities upgraded the previous rating of Neutral to the current rating Buy. In the third quarter, AerCap Holdings showed an EPS of $1.24, compared to $2.01 from the year-ago quarter. The current stock performance of AerCap Holdings shows a 52-week-high of 64.86 and a 52-week-low of 10.42. Moreover, at the end of the last trading period, the closing price was at $40.47. * According to Raymond James, the prior rating for Wells Fargo & Co (NYSE: WFC) was changed from Underperform to Outperform. In the third quarter, Wells Fargo showed an EPS of $0.42, compared to $1.07 from the year-ago quarter. The current stock performance of Wells Fargo shows a 52-week-high of 54.75 and a 52-week-low of 20.76. Moreover, at the end of the last trading period, the closing price was at $26.30. * According to Raymond James, the prior rating for Chubb Ltd (NYSE: CB) was changed from Outperform to Strong Buy. Chubb earned $2.00 in the third quarter, compared to $2.70 in the year-ago quarter. The current stock performance of Chubb shows a 52-week-high of 167.74 and a 52-week-low of 87.35. Moreover, at the end of the last trading period, the closing price was at $149.16. * For Ambarella Inc (NASDAQ: AMBA), Summit Insights Group upgraded the previous rating of Hold to the current rating Buy. Ambarella earned $0.09 in the third quarter, compared to $0.32 in the year-ago quarter. The current stock performance of Ambarella shows a 52-week-high of 73.59 and a 52-week-low of 36.02. Moreover, at the end of the last trading period, the closing price was at $66.37. Downgrades * According to Citigroup, the prior rating for Werner Enterprises Inc (NASDAQ: WERN) was changed from Buy to Neutral. In the third quarter, Werner Enterprises showed an EPS of $0.69, compared to $0.57 from the year-ago quarter. The stock has a 52-week-high of 47.43 and a 52-week-low of 28.99. At the end of the last trading period, Werner Enterprises closed at $40.32. * According to Deutsche Bank, the prior rating for ViacomCBS Inc (NASDAQ: VIAC) was changed from Buy to Hold. In the third quarter, ViacomCBS showed an EPS of $0.91, compared to $1.10 from the year-ago quarter. At the moment, the stock has a 52-week-high of 43.04 and a 52-week-low of 10.1. ViacomCBS closed at $34.62 at the end of the last trading period. * For Silgan Holdings Inc (NASDAQ: SLGN), B of A Securities downgraded the previous rating of Neutral to the current rating Underperform. Silgan Hldgs earned $1.04 in the third quarter, compared to $0.76 in the year-ago quarter. The current stock performance of Silgan Hldgs shows a 52-week-high of 40.44 and a 52-week-low of 24.645. Moreover, at the end of the last trading period, the closing price was at $34.58. * According to Citigroup, the prior rating for Schneider National Inc (NYSE: SNDR) was changed from Buy to Neutral. In the third quarter, Schneider National showed an EPS of $0.31, compared to $0.32 from the year-ago quarter. The stock has a 52-week-high of 28.13 and a 52-week-low of 15.36. At the end of the last trading period, Schneider National closed at $21.25. * Citigroup downgraded the previous rating for Knight-Swift Transportation Holdings Inc (NYSE: KNX) from Buy to Neutral. For the third quarter, Knight-Swift had an EPS of $0.79, compared to year-ago quarter EPS of $0.48. At the moment, the stock has a 52-week-high of 47.44 and a 52-week-low of 27.54. Knight-Swift closed at $40.96 at the end of the last trading period. * According to B of A Securities, the prior rating for Amcor PLC (NYSE: AMCR) was changed from Neutral to Underperform. For the first quarter, Amcor had an EPS of $0.16, compared to year-ago quarter EPS of $0.13. The stock has a 52-week-high of 12.4 and a 52-week-low of 5.8. At the end of the last trading period, Amcor closed at $11.57. * According to Jefferies, the prior rating for Ulta Beauty Inc (NASDAQ: ULTA) was changed from Buy to Hold. In the second quarter, Ulta Beauty showed an EPS of $0.73, compared to $2.72 from the year-ago quarter. The current stock performance of Ulta Beauty shows a 52-week-high of 304.65 and a 52-week-low of 124.05. Moreover, at the end of the last trading period, the closing price was at $282.87. * According to Deutsche Bank, the prior rating for PACCAR Inc (NASDAQ: PCAR) was changed from Buy to Hold. For the third quarter, PACCAR had an EPS of $1.11, compared to year-ago quarter EPS of $1.75. The current stock performance of PACCAR shows a 52-week-high of 95.82 and a 52-week-low of 49.11. Moreover, at the end of the last trading period, the closing price was at $89.56. * According to BTIG, the prior rating for Fulgent Genetics Inc (NASDAQ: FLGT) was changed from Buy to Neutral. In the third quarter, Fulgent Genetics showed an EPS of $2.08, compared to $0.14 from the year-ago quarter. The current stock performance of Fulgent Genetics shows a 52-week-high of 52.47 and a 52-week-low of 6.7. Moreover, at the end of the last trading period, the closing price was at $43.60. * Credit Suisse downgraded the previous rating for Baozun Inc (NASDAQ: BZUN) from Outperform to Neutral. In the third quarter, Baozun showed an EPS of $0.22, compared to $0.14 from the year-ago quarter. The current stock performance of Baozun shows a 52-week-high of 47.51 and a 52-week-low of 22.19. Moreover, at the end of the last trading period, the closing price was at $38.64. Initiations * With a current rating of Market Perform, BMO Capital initiated coverage on Southern Co (NYSE: SO). The price target seems to have been set at $67.00 for Southern. In the third quarter, Southern showed an EPS of $1.22, compared to $1.34 from the year-ago quarter. At the moment, the stock has a 52-week-high of 71.1 and a 52-week-low of 41.96. Southern closed at $60.44 at the end of the last trading period. * BMO Capital initiated coverage on Duke Energy Corp (NYSE: DUK) with an Outperform rating. The price target for Duke Energy is set to $99.00. In the third quarter, Duke Energy showed an EPS of $1.87, compared to $1.79 from the year-ago quarter. The stock has a 52-week-high of 103.79 and a 52-week-low of 62.13. At the end of the last trading period, Duke Energy closed at $93.34. * Berenberg initiated coverage on Cue Biopharma Inc (NASDAQ: CUE) with a Buy rating. The price target for Cue Biopharma is set to $30.00. For the third quarter, Cue Biopharma had an EPS of $0.34, compared to year-ago quarter EPS of $0.31. The stock has a 52-week-high of 31.69 and a 52-week-low of 9.3. At the end of the last trading period, Cue Biopharma closed at $12.01. * Berenberg initiated coverage on Black Diamond Therapeutics Inc (NASDAQ: BDTX) with a Buy rating. The price target for Black Diamond Therapeutic is set to $58.00. In the third quarter, Black Diamond Therapeutic showed an EPS of $0.50, compared to $4.50 from the year-ago quarter. At the moment, the stock has a 52-week-high of 46.25 and a 52-week-low of 17.63. Black Diamond Therapeutic closed at $33.54 at the end of the last trading period. * For Atea Pharmaceuticals Inc (NASDAQ: AVIR), William Blair initiated coverage, by setting the current rating at Outperform. At the moment, the stock has a 52-week-high of 34.81 and a 52-week-low of 31.5. Atea Pharmaceuticals closed at $33.54 at the end of the last trading period. * With a current rating of Buy, Berenberg initiated coverage on Arcus Biosciences Inc (NYSE: RCUS). The price target seems to have been set at $50.00 for Arcus Biosciences. In the third quarter, Arcus Biosciences showed an EPS of $0.03, compared to $0.51 from the year-ago quarter. The current stock performance of Arcus Biosciences shows a 52-week-high of 37.41 and a 52-week-low of 7.69. Moreover, at the end of the last trading period, the closing price was at $25.80. * With a current rating of Equal-Weight, Morgan Stanley initiated coverage on 2U Inc (NASDAQ: TWOU). The price target seems to have been set at $39.00 for 2U. 2U earned $0.24 in the third quarter, compared to $0.41 in the year-ago quarter. The stock has a 52-week-high of 49.46 and a 52-week-low of 11.51. At the end of the last trading period, 2U closed at $34.31. * HC Wainwright & Co. initiated coverage on Curis Inc (NASDAQ: CRIS) with a Buy rating. The price target for Curis is set to $5.00. Curis earned $0.11 in the third quarter, compared to $0.19 in the year-ago quarter. The current stock performance of Curis shows a 52-week-high of 3.59 and a 52-week-low of 0.62. Moreover, at the end of the last trading period, the closing price was at $1.35. * KeyBanc initiated coverage on Workday Inc (NASDAQ: WDAY) with an Overweight rating. The price target for Workday is set to $251.00. In the third quarter, Workday showed an EPS of $0.86, compared to $0.53 from the year-ago quarter. The stock has a 52-week-high of 248.75 and a 52-week-low of 107.75. At the end of the last trading period, Workday closed at $207.10. * With a current rating of Overweight, KeyBanc initiated coverage on Oracle Corp (NYSE: ORCL). The price target seems to have been set at $65.00 for Oracle. Oracle earned $0.93 in the first quarter, compared to $0.81 in the year-ago quarter. The current stock performance of Oracle shows a 52-week-high of 62.5999 and a 52-week-low of 39.71. Moreover, at the end of the last trading period, the closing price was at $56.11. * With a current rating of Overweight, KeyBanc initiated coverage on ServiceNow Inc (NYSE: NOW). The price target seems to have been set at $620.00 for ServiceNow. ServiceNow earned $1.21 in the third quarter, compared to $0.99 in the year-ago quarter. At the moment, the stock has a 52-week-high of 537.53 and a 52-week-low of 238.93. ServiceNow closed at $522.70 at the end of the last trading period. * KeyBanc initiated coverage on Microsoft Corp (NASDAQ: MSFT) with an Overweight rating. The price target for Microsoft is set to $250.00. For the first quarter, Microsoft had an EPS of $1.82, compared to year-ago quarter EPS of $1.38. The current stock performance of Microsoft shows a 52-week-high of 232.86 and a 52-week-low of 132.52. Moreover, at the end of the last trading period, the closing price was at $210.11. * With a current rating of Overweight, KeyBanc initiated coverage on Salesforce.com Inc (NYSE: CRM). The price target seems to have been set at $310.00 for Salesforce.com. For the second quarter, Salesforce.com had an EPS of $1.44, compared to year-ago quarter EPS of $0.66. The stock has a 52-week-high of 284.5 and a 52-week-low of 115.29. At the end of the last trading period, Salesforce.com closed at $257.58. * With a current rating of Buy, Goldman Sachs initiated coverage on Lufax Holding Ltd (NYSE: LU). The price target seems to have been set at $20.00 for Lufax Holding. The stock has a 52-week-high of 19.56 and a 52-week-low of 13.01. At the end of the last trading period, Lufax Holding closed at $15.07. * Evercore ISI Group initiated coverage on BioCryst Pharmaceuticals Inc (NASDAQ: BCRX) with an Outperform rating. The price target for BioCryst Pharmaceuticals is set to $12.00. BioCryst Pharmaceuticals earned $0.26 in the third quarter, compared to $0.34 in the year-ago quarter. The stock has a 52-week-high of 6.2862 and a 52-week-low of 1.58. At the end of the last trading period, BioCryst Pharmaceuticals closed at $4.40. * For Datadog Inc (NASDAQ: DDOG), KeyBanc initiated coverage, by setting the current rating at Sector Weight. For the third quarter, Datadog had an EPS of $0.05, compared to year-ago quarter EPS of $0.00. At the moment, the stock has a 52-week-high of 118.13 and a 52-week-low of 28.88. Datadog closed at $91.04 at the end of the last trading period. * For Alteryx Inc (NYSE: AYX), KeyBanc initiated coverage, by setting the current rating at Sector Weight. In the third quarter, Alteryx showed an EPS of $0.39, compared to $0.24 from the year-ago quarter. The stock has a 52-week-high of 185.75 and a 52-week-low of 75.17. At the end of the last trading period, Alteryx closed at $113.05. * KeyBanc initiated coverage on Splunk Inc (NASDAQ: SPLK) with an Overweight rating. For the second quarter, Splunk had an EPS of $0.33, compared to year-ago quarter EPS of $0.67. The stock has a 52-week-high of 225.8944 and a 52-week-low of 93.92. At the end of the last trading period, Splunk closed at $198.11. * For Palo Alto Networks Inc (NYSE: PANW), KeyBanc initiated coverage, by setting the current rating at Overweight. Palo Alto Networks earned $1.62 in the first quarter, compared to $1.05 in the year-ago quarter. The current stock performance of Palo Alto Networks shows a 52-week-high of 296.71 and a 52-week-low of 125.47. Moreover, at the end of the last trading period, the closing price was at $296.12.See more from Benzinga * Click here for options trades from Benzinga * Understanding American Airlines Group's Unusual Options Activity * Analyzing Camping World Holdings's Unusual Options Activity(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga · 15h ago
Enterprise Communication Boom to Drive These 4 Stocks Beyond 2020
Here we discuss four companies, Microsoft (MSFT), Dropbox (DBX), Cisco (CSCO) and Zoom Video (ZM), that are well poised to maintain momentum in 2021 and beyond on stringent efforts in booming enterprise communication space.
Zacks · 15h ago
Tesla blows past $500 billion market cap
The company has been on a tear this year, with its stock price increasing more than fivefold.
CNBC.com · 15h ago
Investors still don't own enough Apple compared to its weighting in the S&P 500, Morgan Stanley says
Apple's institutional ownership is at record highs, but it doesn't match the tech giant's weighting in the S&P 500, according to Morgan Stanley.
CNBC.com · 15h ago
Microsoft (MSFT) Reveals Flurry of Xbox Black Friday Deals
Microsoft (MSFT) will be offering up to a 40% discount on purchase of three months of Xbox Game Pass Ultimate subscription.
Zacks · 16h ago
Here are Tuesday's biggest analyst calls of the day: GE, Microsoft, Ulta, Target & more
Here are the biggest calls on Wall Street on Tuesday.
CNBC.com · 16h ago
Why It Isnt Ludicrous to Think of Honeywell as the Tesla of Big Industrial Stocks
Barrons.com · 18h ago
Elon Musk Surpasses Bill Gates To Become World's Second Richest
Thanks to Tesla, Inc's (NASDAQ: TSLA) 6.59% surge on Monday, its Chief Executive Officer Elon Musk has become the world's second-richest person, surpassing Microsoft Corporation (NASDAQ: MSF
Benzinga · 19h ago
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About MSFT
Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company's segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company's products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers. It also designs, manufactures, and sells devices, including personal computers (PCs), tablets, gaming and entertainment consoles, phones, other intelligent devices, and related accessories, that integrate with its cloud-based offerings. It offers an array of services, including cloud-based solutions that provide customers with software, services, platforms, and content, and it provides solution support and consulting services.
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