Market Recap: Friday's Closing Action

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Find out what happening right now and get all the pieces of the puzzle on important data activity before the major news sources break the story and see what are the trends
 

•  15 Nov 2024
 

As the market closed on Friday and entered after-hours, we saw a volatile end to the week with significant moves across various sectors. The day was marked by mixed earnings reports, notable stock reactions, and cautious sentiment following Jerome Powell's remarks earlier in the week.

$ACM, gearing up for its fiscal Q4 earnings report on Monday, is expected to see benefits from its high-returning organic growth initiatives, making it one to watch for long-term investors focused on growth. As always, the company’s P/E ratio offers insight into its market performance, which is crucial for investors evaluating its future prospects.

In contrast, $AIM’s third-quarter results showed a GAAP EPS of -$0.06, which disappointed some, but its continued development of Ampligen® in areas like pancreatic cancer highlights its potential for long-term growth in the biotech sector, especially with unmet medical needs. Investors should consider the broader picture when assessing the stock's value, given its focus on high-value clinical development.

Applied Materials $AMAT reported its fiscal Q4 results, which included a significant drop in sales from China, falling by approximately 28%. However, its strong U.S. performance has analysts expressing mixed opinions. While some argue that its solid execution may buffer the company from the geopolitical volatility surrounding China, others are cautious about its exposure to China's slowing economy, which may weigh on future growth. The stock slipped after its earnings beat, as analysts slashed forecasts. If you’re eyeing the semiconductor space, $AMAT remains a stock to keep on your radar, but with some caution regarding its international exposure.

On the other hand, $ASTS AST SpaceMobile faced a steep decline following its Q3 earnings report, missing revenue expectations and widening its loss. Despite its ambitious goal to revolutionize satellite-based cell communication, the stock's sharp drop underscores the volatility of innovative tech stocks. The company’s recent orbital launch is noteworthy, but investors should approach with caution given its uncertain financial outlook.

Over at $BABA Alibaba, the company posted a solid profit beat for its fiscal Q2, but its revenue missed analyst expectations, which caused mixed reactions. Despite these concerns, Alibaba shares were buoyed by its AI growth, offering a bright spot in its earnings report. However, the broader challenges in the Chinese economy remain a concern for investors, and while the company shows promise in areas like AI and cloud, the sluggish domestic market poses a risk to its future growth. The stock’s volatility, driven by macroeconomic factors, could be a sign of more turbulence ahead.

$BE Bloom Energy stole the spotlight today, with shares surging nearly 48% on the back of a major fuel cell supply deal for data centers with AEP. This deal validates the company's product in a large-scale application, offering significant growth potential. For renewable energy investors, Bloom Energy represents an exciting opportunity, though it remains crucial to assess the scalability of its product and the competitive landscape within the energy sector.

As we move into after-hours, the sentiment seems to be mixed, with some companies like $AMAT and $ASTS underperforming, while $ACM and $BABA show potential for future growth. The broader market’s reaction to economic signals and earnings reports will be pivotal in setting the tone for next week. Investors should continue to monitor earnings updates, especially from companies with high exposure to China and those in high-growth sectors like AI and biotech. As always, balance your portfolio with a focus on diversification, especially amid the volatility that has been present throughout the week.