Stocks that defined the week!
Here the most sought out major companies whose stocks moved up and down during the month of November.
Tweet on the most trending stocks of the week
Stocks That Defined the Week!
Major companies whose stocks moved on the week’s news, and gained most traction by the retail investors as well as institutional. One #StocksInFocus #ThanksgivingDay #tesla #gap #livenation #target #walmart pic.twitter.com/R12JKs4DdX
— The_Journalbiz (@the_journalbiz) November 24, 2022
FactSet chart of the hottest stocks of the week
Target Corp. TGT
Target’s sales were off the mark. The retail giant on Wednesday said consumers pulled back on their spending in recent weeks, sapping sales and profits in the latest quarter.
The divergent results come ahead of the critical Black Friday, one of the largest single shopping days. Target shares plummeted 13% Wednesday.
Tesla Inc. TSLA
Elon Musk said Monday at a virtual conference that he has “too much work on his plate” since taking over the social-media platform: “This is not something I would recommend, frankly.” A Tesla board member testified Wednesday in a trial over Mr. Musk’s pay package that Mr. Musk recently floated the possibility of a successor. Meanwhile, Mr. Musk emailed Twitter employees demanding that they commit to “long hours at high intensity” or leave, the latest development amid repeated business missteps under his ownership.
Tesla shares dropped 2.6% Monday, and fell 3.9% Wednesday.
The semiconductor business is cooling off. Nvidia issued a tepid outlook and posted a sharp decline in quarterly sales as demand wanes for its videogaming chips.
The semiconductor giant and its peers have been hit hard by pressures on consumer spending, including high inflation and rising interest rates. The muted forecast followed Micron Technology Inc.’s cut in its production plans for next year. The computer-memory chip maker said it was cutting its production plans for next year and that it was working to reduce capital spending further.
Nvidia shares decreased 4.5% Wednesday.
The nation’s largest online retailer became the latest tech company to shed workers amid a slowing economy. On Wednesday Amazon announced it would be trimming from its corporate ranks, in a rare round of cuts for a company that has mostly seen consistent growth through its history. Amazon could cut about 10,000 jobs, which would affect roughly 3% of its corporate staff and don’t appear likely to affect its hundreds of thousands of warehouse workers.
Meta Platforms Inc., Twitter Inc. and Alphabet Inc.’s Google are among other firms considering or enacting cuts.
Amazon shares fell 1.8% Wednesday.
Live Nation Entertainment Inc.
Live Nation’s Ticketmaster is trying to shake off a Taylor Swift ticket fiasco. The pop star canceled her planned “Eras Tour” public ticket sale after historic demand during the presale period overwhelmed Ticketmaster’s system and left few available seats. After merging in 2010, Ticketmaster and parent Live Nation now sell a majority of live-events tickets. Hopeful buyers faced glitches and delays, waiting in long virtual queues, getting kicked off the site and receiving error messages.
Live Nation shares fell 2.9% Thursday.
The apparel retailer’s efforts to streamline its brand and reduce its inventory resulted in a return to a profit in the latest quarter. The improved performance comes amid a flurry of changes, including a recent deal to sell its apparel on Amazon, cutting ties with Kanye West after his anti-Semitic remarks, and eliminating about 500 corporate jobs.
Gap shares gained 7.6% Friday.