From Definity Media Group: 2024-07-08 17:20:29

Corning (GLW) shares surged 12%, leading S&P 500 gainers, after raising its guidance due to high demand for its AI products. Super Micro Computer (SMCI) jumped 6.2%, gaining attention for its AI server market position. Intel (INTC) rose 6.2% on analyst’s expectations of tech sector strength in the second half of 2024.

Shares of Paramount Global (PARA) fell 5.3% after agreeing to a merger with Skydance Media. Etsy (ETSY) dropped 5.3% amid concerns of slower growth. Chipotle Mexican Grill (CMG) slipped 5.2% following stock split and customer complaints.

Super Micro Computer (SMCI) shares surged 6.2% on Monday as AI-related stocks gained momentum. The company’s server technology benefits from AI boom, with its hardware being used in Nvidia data center technology. Intel (INTC) and AMD could see gains in the second half of the year, along with Apple and IBM.

SolarEdge Technologies (SEDG) shares surged following an upgrade by Bank of America due to expected profitability and undervaluation. Meta Platforms (META) shares dropped 2% after reaching a record high, highlighting slowing price momentum and support/resistance levels.

Corning (GLW) saw a 10%+ surge in its shares after boosting guidance, citing demand for AI products. Nvidia (NVDA) shares climbed on analysts’ raised price targets, driven by strong demand for the Blackwell platform. Tesla (TSLA) shares were down after a significant rally last week, finding key support/resistance levels on the chart.

Stock futures linked to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 edged higher by 0.1% each, indicating positive market sentiment.



Read more at Definity Media Group: S&P 500, Nasdaq Hit Record Highs as Chipmakers Surge