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Reuters6d agobullish
Akamai beats quarterly estimates on cloud infrastructure demand

Akamai Technologies beat analysts' estimates for the second ‌quarter on Thursday, supported ‌by steady demand across its security and ​cloud infrastructure services portfolios, sending its shares up 10.5% in extended trading. The company recorded cloud infrastructure services ‌revenue of $99 million, ⁠up 39% over the year earlier. Here are some details: • ⁠The cybersecurity and cloud computing company's customers include Adobe, eBay and ​Electronic Arts, ​as well ​as the U.S. ‌defense and labor departments.

Stocks Rally on Fed-Friendly CPI Report
Barchart29d agobullish
Stocks Rally on Fed-Friendly CPI Report

The S&P 500 Index ($SPX ) (SPY ) today is up +0.30%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.60%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.97%. September E-mini S&P futures (ESU26 ) are up +0.28%, and September E-mini Nasdaq futures...

Michael Burry doubles down on beaten-down China tech
TheStreet46d agobullish
Michael Burry doubles down on beaten-down China tech

The man who predicted the 2008 housing crash is making another contrarian call, and this time his sights are set on China. Hedge fund manager Michael Burry, who became famous after the film "The Big Short" chronicled his bet against subprime mortgages, revealed on Thursday, June 25, that he added ...

Adobe Stock Set for 46% Gain After Earnings Beat
24/7 Wall St.58d agobullish
Adobe Stock Set for 46% Gain After Earnings Beat

Adobe (NASDAQ:ADBE) just delivered a record quarter, raised its full-year outlook, and watched its stock fall anyway. That gap between fundamentals and price action frames our thesis. The stock trades at $218.80 after a 15.33% one-week drop and a 37.48% year-to-date decline. Our 24/7 Wall St. price target for Adobe is $320.46, implying 46.46% upside ... Adobe Stock Set for 46% Gain After Earnings Beat

Adobe Beats Expectations and Raises Outlook, but Shares Fall on ARR Concerns (ADBE)
InvestorsHub61d agobullish
Adobe Beats Expectations and Raises Outlook, but Shares Fall on ARR Concerns (ADBE)

Adobe (NASDAQ:ADBE) delivered stronger-than-expected second-quarter results on Thursday, surpassing Wall Street forecasts for both revenue and earnings while increasing its full-year guidance. However, the stock moved lower in premarket trading after investors focused on unchanged annual recurring revenue projections and another senior leadership transition.

Retail investors fuel record buying in US software ETF as AI trade broadens
Reuters71d agobullish
Retail investors fuel record buying in US software ETF as AI trade broadens

The largest exchange-traded fund (ETF) tracking U.S. software stocks clocked the biggest single-day buy-in by retail investors ‌on record on Monday, data from Vanda Research showed. Software ‌stocks have largely recovered their losses from earlier this year when fears of ​industry-wide disruptions due to the rise of AI gripped the sector, though volatility still persists. Mom-and-pop traders bought stock worth a net $46 million in the iShares Expanded Tech-Software Sector ETF on Monday, surpassing ‌the previous single-day ⁠record by roughly 40%, as per Vanda.

Michael Burry buys beaten-down, forgotten fintech stock
TheStreet84d agobullish
Michael Burry buys beaten-down, forgotten fintech stock

While the rest of the market has been chasing AI, Michael Burry spent his Monday evening on Substack explaining why he has been buying the stocks everyone else is ignoring. He has a name for what he is seeing. And it is not a phrase Wall Street has used before. Burry disclosed in a Substack post on ...