Netflix stocks have dipped below its 200-day moving average and Ritholtz Wealth Management CEO, Josh Brown, advises to buy shares now. Netflix’s Q3 earnings missed estimates and shares fell 8% this week. Despite the dip, Brown maintains a bullish outlook towards Netflix’s long-term performance. He also stresses the importance of its advertising and content as potential catalysts.
Intel reported strong Q3 earnings, with a notable rise in revenue owing to robust demand for chips. This marks a turn following six straight quarterly losses. Revenue from client computing, comprising chips for PCs and laptops, grew 5% year-on-year. The company’s foundry business is however seen as an area of concern.
Ford Motor saw a surge of 10.7% after Q3 earnings beat expectations. Alphabet, the tech giant, saw a rise of 2.5% after its cloud partnership with AI firm Anthropic was officially announced. Meanwhile, companies such as Newmont, Alaska Air, Beyond Meat, and Deckers Outdoor suffered losses.
General Motors (GM) laid off over 200 salaried employees, primarily Computer-Aided Design (CAD) engineers, due to a revamp of its design engineering team. The layoffs represent part of GM’s efforts to cut costs and optimize its workforce, as the company’s salaried US workforce fell from 53,000 in 2023 to 50,000 last year.
Advanced Micro Devices (AMD) saw a jump in share prices following a report that IBM can utilize the company’s chips for a quantum computing error correction algorithm. This progress is seen as an important development for quantum computing capabilities.
Shares in companies including Ford Motor, Alphabet, Procter & Gamble, Beyond Meat, and Intel took center stage in the trading market today. Experts point out potential future trends, with Capital One shares projected to rise to $250 and GE Vernova stocks expected to surge due to the company’s advantageous position in supporting the energy infrastructure demand of AI trade. All these market movements reflect shifts in investors’ confidence and strategic actions by the companies themselves.
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As Netflix dips below its 200-day moving average, Josh Brown says to buy shares here
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