Market Storm: Nvidia and Merck Lead High-Volume Selloffs, Apple Defies the Trend
Tuesday, Jul 30, 2024 6:31 pm ET
2min read 1. Nvidia (Nasdaq: NVDA)
Nvidia plunged by -7.04%, with the trading volume of 49.90B. NVIDIA announced the introduction of generative AI into the OpenUSD workflow and unveiled a humanoid robot training platform. CEO of AMD highlighted that the company's MI350 chip would compete with NVIDIA's Blackwell chip.
2. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -4.08%, with the trading volume of 22.50B. Tesla faces recall for over 1.8 million vehicles in the U.S. due to a software issue failing to detect unlocked hoods. Additionally, Tesla is set for a product liability trial in Shanghai on August 12 regarding responsibility disputes.
3. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.89%, with the trading volume of 12.21B. Microsoft anticipates FY2025 revenue to achieve double-digit growth, with Q1 Intelligent Cloud revenue expected between $28.6 billion and $28.9 billion. CEO Satya Nadella noted 60,000 Azure AI customers, a 60% increase year-over-year, and 77,000 GitHub Copilot users, up 180%.
4. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -0.94%, with the trading volume of 8.92B. Advanced Micro Devices (AMD) reported Second Quarter fiscal 2024 revenue of $5.8 billion, exceeding analyst expectations of $5.73 billion. Net income for the first six months of fiscal 2024 was $388 million. AMD forecasts third-quarter revenue at approximately $6.7 billion, driven by AI processor growth.
5. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.26%, with the trading volume of 8.91B. Apple's July 30 trading value was $9.057 billion, ranking 4th in US markets. Apple-DR will announce Q3 2024 financial results on August 1. Using Synchron's BCI technology, Apple Vision Pro can now be controlled via thoughts. Apple will assemble high-end iPhone 16 models in India.
6. Amazon (Nasdaq: AMZN)
Amazon.Com dipped mildly by -0.81%, with the trading volume of 6.58B. Amazon.com Inc. sued Nokia for patent infringement. UBS maintains a Buy rating on Amazon and raises the price target to $224. Amazon will report its second-quarter financial results on August 1, 2024.
7. Crowdstrike Holdings (Nasdaq: CRWD)
Crowdstrike Holdings plunged by -9.72%, with the trading volume of 6.04B. CrowdStrike Holdings recently faced backlash due to a faulty update causing Windows blue screen issues. Delta Air Lines is seeking compensation from CrowdStrike over a global network failure. Needham and Morgan Stanley maintain Buy and Overweight ratings on CrowdStrike with price targets at $375 and $360 respectively.
8. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -0.54%, with the trading volume of 5.17B. Meta Platforms reported a "major failure" in its management center, will pay $1.4 billion to Texas over facial recognition charges, announced Quest development tools support for Mac, and launched AI Studio for user-created customizable AI characters. JMP Securities reiterates Market Outperform on Meta.
9. Broadcom (Nasdaq: AVGO)
Broadcom dropped solidly by -4.46%, with the trading volume of 4.50B. Broadcom reported a trading volume of $4.507 billion on July 30, 2024, marking a 79.16% increase from the previous day.
10. Merck & (NYSE: MRK)
Merck & plunged by -9.84%, with the trading volume of 4.14B. Merck (MRK.US) lowered adjusted EPS forecasts and reported Q2 revenue of $16.1 billion, exceeding expectations. Keytruda sales and other treatments drove the performance. The company increased full-year revenue guidance to $63.4-64.4 billion. Q2 adjusted EPS was $2.28.
Nvidia plunged by -7.04%, with the trading volume of 49.90B. NVIDIA announced the introduction of generative AI into the OpenUSD workflow and unveiled a humanoid robot training platform. CEO of AMD highlighted that the company's MI350 chip would compete with NVIDIA's Blackwell chip.
2. Tesla (Nasdaq: TSLA)
Tesla dropped solidly by -4.08%, with the trading volume of 22.50B. Tesla faces recall for over 1.8 million vehicles in the U.S. due to a software issue failing to detect unlocked hoods. Additionally, Tesla is set for a product liability trial in Shanghai on August 12 regarding responsibility disputes.
3. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.89%, with the trading volume of 12.21B. Microsoft anticipates FY2025 revenue to achieve double-digit growth, with Q1 Intelligent Cloud revenue expected between $28.6 billion and $28.9 billion. CEO Satya Nadella noted 60,000 Azure AI customers, a 60% increase year-over-year, and 77,000 GitHub Copilot users, up 180%.
4. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -0.94%, with the trading volume of 8.92B. Advanced Micro Devices (AMD) reported Second Quarter fiscal 2024 revenue of $5.8 billion, exceeding analyst expectations of $5.73 billion. Net income for the first six months of fiscal 2024 was $388 million. AMD forecasts third-quarter revenue at approximately $6.7 billion, driven by AI processor growth.
5. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.26%, with the trading volume of 8.91B. Apple's July 30 trading value was $9.057 billion, ranking 4th in US markets. Apple-DR will announce Q3 2024 financial results on August 1. Using Synchron's BCI technology, Apple Vision Pro can now be controlled via thoughts. Apple will assemble high-end iPhone 16 models in India.
6. Amazon (Nasdaq: AMZN)
Amazon.Com dipped mildly by -0.81%, with the trading volume of 6.58B. Amazon.com Inc. sued Nokia for patent infringement. UBS maintains a Buy rating on Amazon and raises the price target to $224. Amazon will report its second-quarter financial results on August 1, 2024.
7. Crowdstrike Holdings (Nasdaq: CRWD)
Crowdstrike Holdings plunged by -9.72%, with the trading volume of 6.04B. CrowdStrike Holdings recently faced backlash due to a faulty update causing Windows blue screen issues. Delta Air Lines is seeking compensation from CrowdStrike over a global network failure. Needham and Morgan Stanley maintain Buy and Overweight ratings on CrowdStrike with price targets at $375 and $360 respectively.
8. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -0.54%, with the trading volume of 5.17B. Meta Platforms reported a "major failure" in its management center, will pay $1.4 billion to Texas over facial recognition charges, announced Quest development tools support for Mac, and launched AI Studio for user-created customizable AI characters. JMP Securities reiterates Market Outperform on Meta.
9. Broadcom (Nasdaq: AVGO)
Broadcom dropped solidly by -4.46%, with the trading volume of 4.50B. Broadcom reported a trading volume of $4.507 billion on July 30, 2024, marking a 79.16% increase from the previous day.
10. Merck & (NYSE: MRK)
Merck & plunged by -9.84%, with the trading volume of 4.14B. Merck (MRK.US) lowered adjusted EPS forecasts and reported Q2 revenue of $16.1 billion, exceeding expectations. Keytruda sales and other treatments drove the performance. The company increased full-year revenue guidance to $63.4-64.4 billion. Q2 adjusted EPS was $2.28.
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