Watch Smartphone semiconductor supplier Qualcomm (QCOM) today. It posted earnings of $2.44 a share as revenue grew by 1.3% Y/Y to $9.39 billion. In the third quarter, revenue is up to $9.6 billion, surpassing analyst estimates.
Watch for QCOM stock to open at around $170 and trade above $175 next.
Carvana (CVNA) soared by 33% after posting a 17.2% Y/Y increase in revenue, to $3.06 billion. Vehicle sales grew by 16% Y/Y to 91,878. Short-sellers have too big a bet against the firm at over 30% of free float. The firm is more than just a car vending machine meme stock.
Fastly (FSLY), a cloud company for streaming media and entertainment, lost 30% of its value last night. A panicking investor sold a 2 million-share block.
Fastly lost 5 cents a share (non-GAAP). Its RPO – remaining performance obligations – continues to slip, down by 4% to $227 million. The firm expects to lose between six cents and 10 cents a share. For 2024, it will lose as much as 12 cents a share.
After the market closes today, Apple (AAPL) posts quarterly results. Watch the cryptocurrency platform giantCoinbase (COIN). The stock already tripled in the last year, so a post-earnings rally is unlikely.
