Stock Market Today: Live Updates

52 minutes ago

CrowdStrike and Nvidia lead Nasdaq weekly gains

2 hours ago

‘Roaring Kitty’ Returns to Host First Live Stream in Three Years

Keith Gill, aka Roaring Kitty, hosting a live stream on YouTube on June 7, 2024.

Source: Roaring Kitty | YouTube

Keith Gill, also known as “Roaring Kitty” on X and YouTube and “Deep——-Value” on Reddit returned to host his first live stream in three years on Friday.

The retail investor who gained notoriety during the height of the meme stock craze discussed his position on GameStop as the stock once again reignited controversy this week. Check out CNBC’s live coverage here.

-Brian Evans

3 hours ago

Stocks making biggest moves at midday

Check out some of the companies making the biggest changes at noon:

• GameStop —Meme Stock Plunges More Than 28% After Video Game Retailer posted a terrible earnings report. Net sales of $881.8 million in the first quarter marked a 29% decline from the previous year. The company also said it would sell additional shares. Meme stockbroker “Roaring Kitty” was ready to start his live stream at noon ETwhich could move the stock even further.
• Vail Hotels — Shares fell 12% after disappointing quarterly results. After Thursday’s close, the ski resort owner said it earned $9.54 per share on $1.28 billion in revenue, falling short of LSEG’s consensus estimate of $9.97 per share in profits and US$1.30 billion in revenues.
• Weirdness technology — Shares soared 23% after the beauty and wellness company’s board approved a $150 million buyback program for the company’s Class A common stock. The company also improved its earnings outlook for the second quarter.

Read the full list here.

-Brian Evans

6 hours ago

Stocks open lower

Traders work on the floor of the New York Stock Exchange during afternoon trading on February 5, 2024.

Miguel M. Santiago | Getty Images

Stocks opened lower on Friday after a stronger-than-expected jobs report worried investors about the future path of U.S. monetary policy.

The Dow Jones Industrial Average fell 70 points, or 0.1%. The Nasdaq Composite fell 0.3%, while the S&P 500 fell 0.3%.

-Brian Evans

7 hours ago

US job growth in May was much hotter than expected

An electronic sign that says “Hiring” on the side of the Italian Delight restaurant on East Main Street in Birdsboro, Pennsylvania, on September 20, 2021.

Ben Hasting | MídiaNews Group | Getty Images

The US economy added 272,000 jobs in May, easily surpassing the Dow Jones consensus estimate of 190,000. Stock futures fell to session lows after the report was released, signaling that investors are increasingly cautious about the Federal Reserve’s ability to cut rates later this year.

—Fred Imbert

7 hours ago

Stocks Making Biggest Moves Before the Bell

Here are the stocks that made the biggest moves before the bell:

• GameStop — Meme stocks fell 15% in premarket trading, giving up a nearly 30% gain earlier. GameStop posted a surprise earnings reportshowing net sales of $882 million in the first quarter, a 29% drop from the previous year.
• Lyft — Shares of the ride-sharing company rose more than 3%. Several analysts upgraded the stock to buy following Lyft Investor Day Thursday.
• Vail Hotels — The ski resort owner sank 8% after reporting disappointing quarterly results that fell short of Wall Street estimates for both sales and net profit.

Read the full list of stocks on the move here.

-Samantha Subin

8 hours ago

GameStop reports 29% drop in sales in the first quarter

A screen displays trading information for GameStop shares on the New York Stock Exchange floor on June 3, 2024.

Brendan McDermid | Reuters

GameStop released its first quarter results on Friday, showing a sharp decline in sales along with a loss in the bottom line.

The video game retailer on Friday reported net sales of $881.8 million for the period. That is 29% drop of US$ 1.237 billion in the previous year. The drop in sales was steeper than the two Wall Street analysts who cover the stock expected. The company also lost $32.3 million during the quarter.

Shares fell more than 20% despite the results as traders awaited a live broadcast of the “Roaring Kitty” meme trader, scheduled to begin at noon ET.

—Fred Imbert

12 hours ago

European markets slightly lower

European stock markets fell slightly on Friday, after having closed at an all-time high during the previous session, following the European Central Bank’s decision to cut-off rates for the first time since 2019.

The pan-European Stoxx 600 fell 0.04% in early trades, with all major exchanges and most sectors in the red.

The UK’s FTSE 100 fell 0.2% to 8,268, Germany’s DAX fell 0.4% to 18,580, France’s CAC 40 fell 0.3% to 8,017 and Italy’s FTSE MIB fell 0.3% to 34,726.

14 hours ago

Nio shares plunge 7% even as CEO announces expansion plans in the Middle East

Shares of the Chinese EV company Nio fell more than 7%, even as CEO William Li announced plans to expand into the Middle East this year.

The nearly 10-year-old company will also begin marketing its lower-cost Firefly brand in the first half of next year, Li said.

Nio, which recently received funding from Investors based in the Middle East, recorded record deliveries of 20,544 vehicles in May.

The US-listed Chinese automaker, which has been operating at a loss, plans to start offering its products and services in the UAE by the end of this year, Li said, according to a FactSet transcript.

Read the full story here.

-Evelyn Cheng

15 hours ago

China’s exports may exceed expectations, but imports fall short

China’s exports in May exceeded expectations, rising 7.6% versus the 6% expected in a Reuters poll of economists and well above the 1.5% increase seen in April.

However, imports increased by 1.8% year on year, below the 4.2% expected in a Reuters poll and slowing down from the 8.4% gain recorded in April.

The Caixin industrial purchasing managers index showed that new export orders grew in May for the fifth consecutive monthalbeit at a slower pace.

Read the full story here.

-Evelyn Cheng

19 hours ago

Household spending in Japan increases for the first time since February 2023, but misses estimates

Real household spending in Japan rose 0.5% year-on-year in April, rising for the first month since February 2023, but missed Reuters poll estimates of 0.6% growth.

Average monthly consumption expenditure per household in April was 313,300 yen, an increase of 3.4% in nominal terms.

Average monthly income per household stood at 566,457 yen, an increase of 2.3% in nominal terms, but a drop of 0.6% in real terms compared to the previous year.

The April data is significant as most Japanese companies restart their financial year and enact corporate changes that month, meaning the record wage increases that unions managed to negotiate this year it would likely come into effect from April.

-Lim Hui Jie

20 hours ago

Waystar Announces Initial Public Offering Price

Healthcare payments software maker Waystar raised $968 million in its initial public offering, the company said Thursday. The IPO of 45 million shares was priced at $21.50 per share.

The shares are expected to begin trading on the Nasdaq on June 7 under the symbol WAY. The offering is expected to close on June 10, subject to customary closing conditions.

-Tanaya Macheel

21 hours ago

Stocks making the biggest moves after hours

These are some of the biggest drivers in Thursday’s extended trading:

• Vail Hotels — The resort operator saw its shares fall more than 5% after reporting fiscal third-quarter earnings of $9.54 per share on revenue of $1.28 billion. These results fell short of analysts’ expectations of $9.97 in earnings per share on revenue of $1.3 billion, according to LSEG.
• DocuSign — The electronic signature company lost 6%. DocuSign reported first-quarter adjusted earnings of 82 cents per share on revenue of $710 million. Analysts called for 79 cents for profit sharing on revenues of $707 million, per LSEG. DocuSign also authorized a $1 billion share repurchase increase.
• Welding — Customer engagement platform provider rose about 13% on better-than-expected first-quarter results. Braze reported an adjusted loss of 5 cents per share, while analysts expected a loss of 10 cents per share, according to LSEG. Revenue was $135 million, slightly exceeding expectations of $132 million.

For more names on the move, check out our full list here.

-Tanaya Macheel

21 hours ago

Stock futures open flat

Stock futures were little changed to begin trading Thursday night.

Futures linked to the Dow Jones Industrial Index rose 13 points, or 0.03%. S&P 500 and Nasdaq 100 futures moved below the flat line by 0.05% and 0.01%, respectively.

-Tanaya Macheel

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