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MarketWatch MarketPulseJun 26, 2019
Investors should 'tread somewhat lightly' on Nvidia shares, says Bernstein
Bernstein analyst Stacy Rasgon wrote Wednesday that while investors may see Nvidia Corp. shares as attractively valued given that they are off about 50% from their 52-week high, he is "growing nervous" on the stock. "Given recent events, Nvidia's stock for now likely depends on hope for cyclical datacenter recovery," he wrote. "This is fine as it is, but appears well incorporated into numbers already (with consensus modeling a substantial datacenter snapback as early as FQ3 to levels well above the prior peak, which itself now appears clearly inflated) into an environment that may still not be hugely supportive." Rasgon maintained a market-perform rating on the stock, writing that he recommends investors "tread somewhat lightly." The stock is still up 2.8% in premarket trading after Micron Technology Inc.'s earnings report helped lift chip shares more broadly. Nvidia shares have fallen 37% over the past 12 months, as the S&P 500 has gained 7.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJun 26, 2019
Chip stocks in broad rally after Micron beats on earnings, resumes some shipments to Huawei
Semiconductor maker stocks were broadly higher in premarket trading Wednesday, fueled by Micron Technology Inc.'s better-than-expected earnings and upbeat outlook, and after memory chip maker said it resumed some shipments to China's Huawei Technologies Co. The VanEck Vectors Semiconductor ETF rallied 2.4%, as all 22 of the 25 components that have traded ahead of the open gained ground. Micron's stock shot up 8.9% to pace the gainers. Among other more-active stocks, Advanced Micro Devices Inc. rallied 3.4%, Nvidia Corp. rose 2.3%, Intel Corp. advanced 1.6%, STMicroelectronics N.V. hiked up 4.8% and Qualcomm Inc. tacked on 1.3%. Micron's stock had lost 19% over the past three months through Tuesday, while the chip ETF has lost 0.8% and the S&P 500 has gained 3.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJun 26, 2019
BlackBerry Q1 revenue falls short of estimates
BlackBerry Ltd. shares rose and then edged lower in premarket trade Wednesday, after the cybersecurity company posted a better-than-expected adjusted profit for its fiscal first quarter, but weaker-than-expected revenue. The Waterloo, Ontario-based company said it had a net loss of $35 million, or 9 cents a share, in the quarter to May 31, narrower than the loss of $60 million, or 11 cents a share, posted in the year-earlier period. Revenue rose to $247 million from $213 million. The FactSet consensus was for breakeven EPS and revenue of $265 million. The company's press release highlighted a series of non-GAAP numbers, or those that do not conform with Generally Accepted Accounting Principles. The Securities and Exchange Commission's rules stipulate that companies first present numbers prepared under GAAP rules. While they are allowed to offer non-GAAP numbers, they must give equal prominence to the GAAP numbers and offer a full reconciliation of the two. Shares have gained 16.6% in 2019, while the S&P 500 has gained 16.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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General Mills stock falls after profit beats but sales come up short (MarketWatch MarketPulse)

MarketWatch MarketPulseJun 26, 2019
Beyond Meat stock soars 4.3% premarket after announcing new Beyond Beef product
Plant-based meat maker Beyond Meat Inc. said Wednesday it is launching its new Beyond Beef product later this week across the U.S. The Beyond Beef product is plant-based ground beef that is designed to taste and look like traditional ground beef. It will be available at stores, including Whole Foods , Alberstons, Kroger and Safeway, among others. Beyond Meat shares rose 4.3% in premarket trade. The stock is a stunning 502% above its early May IPO price of $25.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJun 26, 2019
Ebay to hold 'Crash Sale' on July 15 in case Amazon's site goes down
Ebay Inc. is taking shots at Amazon.com Inc.'s Prime Day event with its own "Crash Sale" on July 15. "If history repeats itself and Amazon crashes that day, eBay's wave of can't-miss deals on some of the season's top items will excite customers around the world," eBay said in its announcement. Amazon's site had a temporary outage in 2018. This year, Amazon Prime Day will span two days from July 15 through July 16. Ebay will offer discounts over three weeks starting on July 1. On July 15, the official "Crash Day," eBay will have promotions on consumer electronics brands like Apple Inc. , Samsung and KitchenAid, with other deals planned "if Amazon crashes." From July 1 through July 7, there will be deals on items like camping gear and robotic vacuums. And from July 8 through July 22, there will be daily deals on items like appliances and smart home devices. Ebay stock inched up 0.4% in Wednesday premarket trading, and has rallied 39% for the year to date. The S&P 500 index is up 16.4% for 2019 so far.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Google Business NewsJun 25, 2019
U.S. Companies Find Legal Ways Around Trump's Huawei Blacklist - Bloomberg
U.S. Companies Find Legal Ways Around Trump's Huawei Blacklist  BloombergMicron pops on earnings and revenue beat  CNBCMicron surge; Central banker buzz; Crude data  CNNHuawei Blacklist Loopholes Were Made in the U.S.A.  BloombergMicron Trades Higher After Big Q3 Earnings Beat  BenzingaView full coverage on Google News
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