(Updated: May 1, 2024 11:35 AM EST)
Investing.com – Major U.S. indexes fell on Wednesday on concerns that the Federal Reserve’s upcoming policy meeting will signal interest rates will be kept at elevated levels for a long time.
Here are some of the biggest players in the US stock market today:
Amazon NASDAQ shares rose 1.7% after the e-commerce and technology giant’s first-quarter earnings beat estimates. However, earnings were limited as revenue forecast disappointed as the e-commerce giant forecast higher spending on AI spending. despite the drinks giant’s report
Advanced microdevices NASDAQ shares fell more than 9% after the chipmaker said it expects artificial intelligence chip sales to be about $4 billion in 2024, up $500 million from its previous estimate for this year. However, this was not enough to meet Wall Street’s high expectations.
Super Micro Computer NASDAQ shares fell 17% after the chipmaker’s forecast of $4 billion in artificial intelligence chip sales in 2024 fell short of elevated expectations.
Starbucks Shares (NASDAQ:) fell 17% after first-quarter earnings fell short of expectations and revenue fell amid weaker demand in North America and China.
Kraft Heinz NASDAQ shares fell 6% after the food giant missed first-quarter sales expectations as inflation-weary consumers were put off by higher prices for its products.
Pfizer (NYFB:) (PFE) rose 3.5% after the drugmaker beat first-quarter expectations and improved its full-year outlook.
Yum! Brands (NYSE:) shares fell 4% after the restaurant group reported an unexpected drop in quarterly global same-store sales, driven by faltering demand for its KFC and Pizza Hut brands from inflation-weary consumers.
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Estee Lauder (New York Stock Exchange:) (EL) fell 11% after the beauty products company’s earnings and revenue beat consensus expectations but missed consensus estimates.
Marriott International Shares (NASDAQ:) fell 1% even though the hotel operator on Wednesday raised its full-year adjusted profit forecast, noting that U.S. domestic travel is normalizing after a post-COVID surge.
Pinterest (NYSE:) shares rose 21% after the social media company forecast second-quarter revenue above Wall Street estimates.
Health CVS Shares (NYSE:) fell 18% after the drugstore chain reported lower first-quarter profit and downgraded its full-year profit outlook.
Block (SQ) fell 7.75% after an NBC report said federal prosecutors are examining financial transactions for alleged compliance issues at Square and Cash App.
Johnson Controls (NYSE:) fell 7% after the company issued third-quarter guidance that missed expectations, raising questions about how achievable its full-year goals are.
LLC “Garmin” . () rose 12% after the company reported first-quarter earnings per share and revenue that easily beat Wall Street estimates. Analysts now see upside to full-year forecasts.
Global payments (GPN) fell 8.8% despite reporting first-quarter results and guidance that were broadly in line with consensus, although profitability was lower than expected.
CDW (NASDAQ:) fell 9% after reporting first-quarter results that fell short of analysts’ expectations for revenue and profit.
DuPont (NYSE:) rose 8% to a 52-week high after its first-quarter results topped consensus. The chemical company also provided recommendations.
Additional reporting by Louis Juricic
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