U.S. stock futures saw an increase on Wednesday after the release of monthly U.S. private payrolls data from ADP, with hopes for potential Federal Reserve rate cuts. Private sector job gains were found to be weaker than expected, indicating a possible cooling in the labor market. Here are some key drivers of U.S. stocks today:
– Hewlett Packard Company (NYSE:) surged by 12% after reporting strong quarterly earnings and a positive outlook thanks to the demand for artificial intelligence.
– CrowdStrike (NASDAQ 🙂 rose 7% as the cybersecurity company raised its annual guidance following better-than-expected quarterly results.
– Dollar Tree (NASDAQ:) saw a 5% drop following reports that the discount retailer is considering options like a sale or spinoff of Family Dollar.
– Intel (NASDAQ 🙂 shares rose by 1.75% after Apollo Global Management (NYSE:) agreed to purchase a 49% equity stake for $11 billion in a joint venture related to the chipmaker’s manufacturing unit in Ireland.
– Spirit AeroSystems (NYSE 🙂 remained steady after announcing the resignation of its chief financial officer, Mark Suchinski.
– Workday (WKME) jumped over 40% after SAP’s acquisition of Concur’s parent company in a $1.5 billion deal.
– Deere and Company (NYSE:) stayed stable after announcing job cuts in response to a slowdown in demand for farm equipment.
– Hibbett Sports (NASDAQ:) saw a 0.1% decline after reporting quarterly sales below estimates.
– Riot Blockchain (NASDAQ 🙂 fell by 6.5% following Kerrisdale Capital’s announcement of shorting the bitcoin miner.
– Snowflake (NYSE 🙂 shares dropped by 4.7% post their analyst day, with analysts highlighting the company as a “show me” story.
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