Marketwatch, trending stocks and more
The Nasdaq Composite jumped after chip giant Nvidia issued a strong sales forecast due to rising demand for artificial intelligence technology.
Nvidia’s stock was some 25% higher, boosting other chip makers and shares tied to AI.
Tweet on Treding stocks
Marketwatch today:
Marvell (MRVL): stock surged over 27%
Ford (F): stock rose 7%
Tesla (TSLA) stock added 5%
Pinduoduo (PDD): Stocks jumped 17%
Workday (WDAY): Workday stock gained 11%
Paramount Global (PARA): Stock rose 5%
Ulta Beauty (ULTA): stock dropped 11%#trending #stocks pic.twitter.com/lwJbBlAbhE— The_Journalbiz (@the_journalbiz) May 26, 2023
Factset chart on the stockmarket
“Artificial intelligence is a major theme driving markets right now,” said Michelle Cluver, portfolio strategist at Global X. “While the implications are broad, they all point to a greater need for semiconductors.”.
Trending stocks today are:
Marvell (MRVL): The chip maker forecast substantial growth, due in part to artificial intelligence. Marvell stock surged over 27%.
Ford (F): Tesla is opening some of its fast-charging networks to Ford customers in the U.S. and Canada. Ford stock rose 7%. Tesla (TSLA) stock added 5%.
PDD (PDD): The company behind the e-commerce platforms Temu and Pinduoduo said quarterly profit more than tripled to the equivalent of $1.18 billion, as revenue surged 58% from a year earlier. The results beat expectations and PDD’s American depositary receipts jumped 17%.
Workday (WDAY): The cloud-software company reported better-than-expected quarterly results and lifted its outlook. Workday stock gained 11%.
Paramount Global (PARA): The Wall Street Journal reported that the company’s controlling shareholder, Shari Redstone’s National Amusements, has secured a critical, $125 million cash infusion. Paramount stock rose more than 5%.
Ulta Beauty (ULTA): The cosmetics retailer reported quarterly earnings per share that fell short of consensus expectations. Ulta stock dropped 11%.
Gap (GPS): Gap stock rose 11% after the apparel retailer reported a narrower loss in the latest quarter and said gross margins were improving.
