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Volume Stonkers | Humana fell 11.79%, Downgraded by Merrill Lynch Amid Profit Recovery Delays

AInvestWednesday, Oct 2, 2024 5:30 pm ET
2min read
NVIDIA rose 1.58% with a trading volume of $25.043 billion. The company paused the development of its dual-rack AI server version and partnered with Accenture to boost AI adoption in enterprises. Analysts suggest its AI market could drive a $1 trillion growth.

Tesla fell 3.49% with a trading volume of $23.125 billion. The decline was due to lower-than-expected third-quarter deliveries, although its energy storage division reached a milestone of 750,000 Powerwalls installed globally.

Apple increased by 0.25% with a trading volume of $7.386 billion. The company may rely again on the Chinese supply chain following a fire at its Indian iPhone factory, and the iPhone SE 4 is expected to launch next year.

Microsoft dropped 0.85% with a trading volume of $6.721 billion. The company introduced a new version of its Windows AI assistant, Copilot, and released a public beta of GPT-4o for real-time audio and voice, continuing its AI development.

Alibaba rose 2.22% with a trading volume of $6.121 billion. The company repurchased $4.1 billion of its stock in the third quarter and received a buy recommendation from Daiwa Securities, indicating market confidence in its prospects.

Pinduoduo climbed 4.85% with a trading volume of $5.401 billion. The launch of its new quality merchant support program, combined with strong performance in Chinese stocks, boosted its share price.

Humana fell 11.79% with a trading volume of $4.564 billion. The company was downgraded by Bank of America Merrill Lynch due to delayed profit recovery and potential merger with Cigna.

Amazon decreased by 0.20% with a trading volume of $4.367 billion. The company faces allegations of misconduct from the National Labor Relations Board and continues promoting its internal AI chatbot "Safer."

SMIC rose 0.02% with a trading volume of $3.935 billion. The company launched the EPYC Embedded 8004 series of embedded processors, enhancing its competitiveness in high-performance computing.

Meta fell 0.63% with a trading volume of $3.726 billion. The company plans to expand manufacturing of Quest 3S to Vietnam and holds key assets in the AI sector.

Google A dropped 0.68% with a trading volume of $2.931 billion. The company reached a deal with Character.AI, ceasing AI model development to focus on enhancing consumer products.

Futu Holdings increased by 4.94% with a trading volume of $2.828 billion. The company showed strong performance and completed a block trade worth about $200 million, reflecting investor confidence.

Nike fell 6.77% with a trading volume of $2.747 billion. The sharp decline in its stock price prompted market analysis suggesting potential further losses, although TD Cowen maintained a hold rating.

JD.com rose 4.36% with a trading volume of $2.631 billion. JD Industrial, a subsidiary, applied for an IPO on the Hong Kong Stock Exchange, indicating its intent to expand in international markets.

Micron Technology dropped 0.46% with a trading volume of $2.587 billion. The company received a buy rating from Cantor Fitzgerald with a target price of $150, showing investor confidence in its long-term growth.

Broadcom rose 1.90% with a trading volume of $2.445 billion. Despite a general decline in tech stocks, Broadcom showed resilience in the semiconductor sector, with a positive market outlook.

UnitedHealth rose 1.54% with a trading volume of $2.164 billion. The company maintained a strong position in the healthcare services industry, despite challenges faced by competitor Humana.

Salesforce rose 3.20% with a trading volume of $2.112 billion. Its GenAI platform, AgentForce, received positive reviews and an upgraded rating from Northland Securities.

ExxonMobil increased by 1.30% with a trading volume of $2.075 billion. The company performed well amid a surge in oil prices, with Barclays maintaining its buy rating.

MicroStrategy rose 1.20% with a trading volume of $2.070 billion. The company faced volatility in the cryptocurrency market, with Bitcoin prices nearing the $60,000 level, impacting its stock performance.
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.