Empower Your Crypto Investment Portfolio with Latest Market Insights 📈
Stay ahead of the curve in the crypto market with key updates on notable companies making waves in midday trading. Here are the highlights you need to know:
Key Updates on Market Movers 🚀
Here are some significant updates on the companies influencing the market:
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Intuit
- Shares fell by nearly 4% as the TurboTax parent company announced a workforce reduction of 1,800 jobs to focus on artificial intelligence investments.
- Plans to rehire 1,800 people for engineering, product, and consumer roles.
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LegalZoom.com
- Shares plummeted over 25% after CEO Dan Wernikoff’s departure and a downward revision of full-year revenue outlook.
- Chairman Jeffrey Stibel replaces Wernikoff as the new CEO. Estimated revenue lowered to $675-$685 million.
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Taiwan Semiconductor Manufacturing
- Chip stock surged by 3% following revenue results. Reported T$207.87 billion for June, a 9.5% decrease from the previous month but a 32.9% increase from the same period last year.
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Carvana
- Online car seller’s shares rose 5% after a buy recommendation from Needham, citing customer experience and physical footprint growth potential.
- CarMax, a peer used-car retailer, also saw an increase of over 6%.
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Baidu
- Stock rose 2.4% with rising popularity for its Apollo Go robotaxi in China. Shanghai allows driverless robotaxis without safety supervisors, boosting user access.
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Mastercard & Visa
- Payment network processors’ stocks dipped, Mastercard down by 3%, and Visa by 1%. Bank of America lowered the rating to neutral from buy.
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Manchester United
- Pro football club’s shares rose by 2.4% post third-quarter earnings for fiscal 2024, aiming for revenue near the higher end of guidance at 660 million euros.
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10x Genomics
- Single-cell market leader’s shares fell by around 13% as Illumina announces acquisition of Fluent BioSciences, indicating leadership changes. Illumina’s shares rose by over 4%.
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Teva Pharmaceutical Industries
- Shares increased by 5% as Argus upgraded Teva to buy, highlighting the robust pipeline. UBS raised the price target to $24 per share.
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Deckers
- Footwear company’s shares declined by 5.8% after M Science released a downbeat note on Hoka and Ugg sales growth, trimming fiscal first-quarter estimate to $297 million.
- Advanced Micro Devices
- Chipmaker’s shares surged over 3% post announcement of acquiring Silo AI in Europe, valued at approximately $665 million in an all-cash deal expected to close in the second half of 2024.
Hot Take: Stay Informed, Stay Ahead! 🌟
Keep an eye on these market influencers to gain insights into making informed decisions for your crypto investment portfolio. Stay ahead of the curve and leverage these updates for a successful investment journey in the dynamic crypto market!
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