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Market Movers: Applovins Revenue Surge, Nvidias Record Market Cap, and Boeings Labor Deal Unveiled

AInvestMonday, Oct 21, 2024 6:30 pm ET
1min read
1. Applovin (Nasdaq: APP)
Applovin surged by 9.39%. Applovin received several analyst updates: Goldman Sachs downgraded to Neutral, UBS upgraded to Buy, Macquarie reiterated Outperform, and Citigroup maintained Buy. Applovin reported a 45.9% increase in revenue to $21.38 billion for the period ending June 30, 2024.

2. Kenvue (NYSE: KVUE)
Kenvue gained solidly by 5.57%. Starboard Value invests in Kenvue. Kenvue announces a cash dividend of $0.2050 per share, with a cumulative 2024 dividend of $0.8100 per share. JP Morgan maintains an overweight rating with a $25.00 target, while Jefferies initiates a buy rating with a $27.00 target.

3. Hdfc Bank Limited (NYSE: HDB)
Hdfc Bank Limited gained solidly by 4.35%. HDFC Bank's Q1 2025 net profit rose by 38.58% to ₹1718.81 billion with revenue at ₹7241.70 billion. JP Morgan downgraded the bank to "Neutral."

4. Nvidia (Nasdaq: NVDA)
Nvidia gained solidly by 4.14%. NVIDIA's market cap hit a record $3.5 trillion, nearing Apple's level, following a 2% stock rise. The NVIDIA China Developer Day concluded successfully, showcasing AI and deep learning advancements. Microsoft significantly increased orders for NVIDIA's GB200 chips.

5. The Boeingmpany (NYSE: BA)
The Boeingmpany gained solidly by 3.12%. Boeing has reached a tentative labor agreement with the International Association of Machinists and Aerospace Workers, offering a 35% wage increase over four years to end a costly strike. Analysts predict this could raise labor-related costs by over $1 billion.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.