Tesla & UnitedHealth Lead Market Moves Amid High Trading Volumes
Tuesday, Jul 16, 2024 6:31 pm ET
TSLA --
1. Tesla (Nasdaq: TSLA)
Tesla gained mildly by 1.55%, with the trading volume of 31.86B. Elon Musk moved the headquarters of Tesla, SpaceX, and X to Texas. Tesla's Shanghai energy storage factory is set to complete by 2025. Baird maintains an "Outperform" rating on Tesla. Tesla plans to hire nearly 800 new employees focusing on AI and robotics.
2. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -1.62%, with the trading volume of 26.74B. NVIDIA's research team will showcase advancements in simulation and generative AI techniques at SIGGRAPH. Additionally, the company faces an anti-competition investigation by the French Competition Authority. NVIDIA is also preparing to launch the GeForce RTX 5090D in January 2025.
3. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.18%, with the trading volume of 9.80B. Apple's market cap reached $3.59 trillion on July 15. Morgan Stanley forecasted a 33% increase in iPhone revenue over the next two years. Apple Vision Pro faced poor sales forecasts. Rumors of iPhone 17 using TSMC 2nm chip were debunked.
4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.98%, with the trading volume of 7.70B. Wedbush expects Microsoft, Alphabet, Amazon, Palantir, and Meta to stand out in Q2 earnings. Microsoft signed a carbon credit agreement with Occidental. Mizuho maintained its Outperform rating on Microsoft, raising the price target to $480. UK's CMA is investigating Microsoft's dealings with Inflection AI.
5. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -1.27%, with the trading volume of 7.03B. Advanced Micro Devices (AMD) disclosed an insider transaction involving executive Peng Victor selling 15,100 shares on July 12, 2024. Cantor Fitzgerald maintains an Overweight rating on AMD, raising the price target to $200. The company confirmed Zen 6 core architecture for 2026.
6. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -1.28%, with the trading volume of 6.87B. Wolfe Research initiates coverage on Meta with an Outperform rating and a $620.00 price target. Meta disclosed 34 insider transactions on July 15, with significant sales by major shareholder Mark Zuckerberg. Meta revoked restrictions on Donald Trump’s account to ensure equal expression for 2024 presidential candidates.
7. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 0.16%, with the trading volume of 6.27B. Amazon's 2024 Q1 revenue reached $143.31 billion, up 12.53% YoY, with net profit at $10.431 billion. Benchmark reiterated its Buy rating with a $200 target. Wolfe Research initiated an Outperform rating with a $250 target. Prime Day sales expected to reach $14 billion.
8. Unitedhealth Group Incorporated (NYSE: UNH)
Unitedhealth Group Incorporated surged by 6.48%, with the trading volume of 6.00B. UnitedHealth Group's Q2 2024 revenue reached $98.86 billion, surpassing last year's $92.903 billion and market expectations of $98.83 billion. Adjusted EPS was $6.80, above the expected $6.63. However, medical cost metrics were higher than anticipated, signaling ongoing challenges.
9. Super Micromputer (Nasdaq: SMCI)
Super Micromputer dipped mildly by -2.31%, with the trading volume of 3.84B. Super Micro Computer will join the Nasdaq-100 Index on July 22, replacing Walgreens Boots Alliance. Susquehanna maintains its negative rating on Super Micro Computer but raises the price target to $325. In Q3 2024, the company's revenue was $9.635 billion and net profit $855 million.
10. Broadcom (Nasdaq: AVGO)
Broadcom dipped mildly by -1.19%, with the trading volume of 3.74B. TD Cowen reiterates Buy rating on Broadcom but lowers its price target to $210. Cantor Fitzgerald also maintains an Overweight rating on Broadcom, raising its price target to $2000. Broadcom insider Tan Hock E sold 7502 shares on July 11.
Tesla gained mildly by 1.55%, with the trading volume of 31.86B. Elon Musk moved the headquarters of Tesla, SpaceX, and X to Texas. Tesla's Shanghai energy storage factory is set to complete by 2025. Baird maintains an "Outperform" rating on Tesla. Tesla plans to hire nearly 800 new employees focusing on AI and robotics.
2. Nvidia (Nasdaq: NVDA)
Nvidia dipped mildly by -1.62%, with the trading volume of 26.74B. NVIDIA's research team will showcase advancements in simulation and generative AI techniques at SIGGRAPH. Additionally, the company faces an anti-competition investigation by the French Competition Authority. NVIDIA is also preparing to launch the GeForce RTX 5090D in January 2025.
3. Apple (Nasdaq: AAPL)
Apple gained mildly by 0.18%, with the trading volume of 9.80B. Apple's market cap reached $3.59 trillion on July 15. Morgan Stanley forecasted a 33% increase in iPhone revenue over the next two years. Apple Vision Pro faced poor sales forecasts. Rumors of iPhone 17 using TSMC 2nm chip were debunked.
4. Microsoft (Nasdaq: MSFT)
Microsoft dipped mildly by -0.98%, with the trading volume of 7.70B. Wedbush expects Microsoft, Alphabet, Amazon, Palantir, and Meta to stand out in Q2 earnings. Microsoft signed a carbon credit agreement with Occidental. Mizuho maintained its Outperform rating on Microsoft, raising the price target to $480. UK's CMA is investigating Microsoft's dealings with Inflection AI.
5. Advanced Micro Devices (Nasdaq: AMD)
Advanced Micro Devices dipped mildly by -1.27%, with the trading volume of 7.03B. Advanced Micro Devices (AMD) disclosed an insider transaction involving executive Peng Victor selling 15,100 shares on July 12, 2024. Cantor Fitzgerald maintains an Overweight rating on AMD, raising the price target to $200. The company confirmed Zen 6 core architecture for 2026.
6. Meta Platforms (Nasdaq: META)
Meta Platforms dipped mildly by -1.28%, with the trading volume of 6.87B. Wolfe Research initiates coverage on Meta with an Outperform rating and a $620.00 price target. Meta disclosed 34 insider transactions on July 15, with significant sales by major shareholder Mark Zuckerberg. Meta revoked restrictions on Donald Trump’s account to ensure equal expression for 2024 presidential candidates.
7. Amazon (Nasdaq: AMZN)
Amazon.Com gained mildly by 0.16%, with the trading volume of 6.27B. Amazon's 2024 Q1 revenue reached $143.31 billion, up 12.53% YoY, with net profit at $10.431 billion. Benchmark reiterated its Buy rating with a $200 target. Wolfe Research initiated an Outperform rating with a $250 target. Prime Day sales expected to reach $14 billion.
8. Unitedhealth Group Incorporated (NYSE: UNH)
Unitedhealth Group Incorporated surged by 6.48%, with the trading volume of 6.00B. UnitedHealth Group's Q2 2024 revenue reached $98.86 billion, surpassing last year's $92.903 billion and market expectations of $98.83 billion. Adjusted EPS was $6.80, above the expected $6.63. However, medical cost metrics were higher than anticipated, signaling ongoing challenges.
9. Super Micromputer (Nasdaq: SMCI)
Super Micromputer dipped mildly by -2.31%, with the trading volume of 3.84B. Super Micro Computer will join the Nasdaq-100 Index on July 22, replacing Walgreens Boots Alliance. Susquehanna maintains its negative rating on Super Micro Computer but raises the price target to $325. In Q3 2024, the company's revenue was $9.635 billion and net profit $855 million.
10. Broadcom (Nasdaq: AVGO)
Broadcom dipped mildly by -1.19%, with the trading volume of 3.74B. TD Cowen reiterates Buy rating on Broadcom but lowers its price target to $210. Cantor Fitzgerald also maintains an Overweight rating on Broadcom, raising its price target to $2000. Broadcom insider Tan Hock E sold 7502 shares on July 11.