Markets Daily — 24 Feb 2025
Fact of the Day
Apple was once saved by its biggest competitor.
In 1997, Apple was on the verge of bankruptcy. Surprisingly, it was Microsoft—led by Bill Gates—that came to the rescue by investing $150 million in Apple. The investment helped Apple stabilize, and as part of the deal, Microsoft Office would continue to be available for Mac.
This unlikely partnership gave Apple the lifeline it needed, eventually leading to the launch of the iPod, iPhone, and MacBooks that turned it into one of the most valuable companies in the world.
Sometimes, in business, rivals can become the key to survival!
|
|
Market Wrap
Overall, the U.S. stock market experienced modest declines yesterday, influenced by a combination of disappointing economic data, corporate earnings reports, and investor caution ahead of key inflation figures.
- Disappointing Economic Indicators: The Chicago Federal Reserve's National Activity Index fell to -0.03 in January from 0.18 in December, indicating a slowdown in economic activity.
Additionally, the S&P Global Purchasing Managers Index signaled a sharp deceleration in business growth, with GDP projected to drop from 3.2% in Q4 2024 to 2% in the current quarter.
- Corporate Earnings Reports: Domino's Pizza missed revenue and U.S. same-store sales expectations, attributed to slower consumer spending that may indicate broader consumer weakness.
- Investor Caution Ahead of Inflation Data: Treasury yields fell as investors awaited upcoming reports on consumer confidence and inflation, reflecting concerns over persistent inflation and its potential impact on Federal Reserve interest rate decisions.
|
| Index |
Day % Change |
|
S&P 500 (SPX)
|
-0.50%
|
|
Nasdaq-100 (NDX)
|
-1.21%
|
|
Dow Jones Industrial (DJI)
|
0.08%
|
|
Russell 2000 (RUT)
|
-0.78%
|
|
Magnificent Seven
|
-1.42%
|
|
TopP Small Cap Index1
|
-
|
|
TopP Large Cap Index1
|
-
|
|
TopP Tech Index1
|
-
|
|
Notable Stock News & Moves
|
|
NVIDIA Corporation (NVDA)
📉
Day Change: -3.1% | Market Cap: $3477.3b
Business Excellence2:
100
| Valuation2:
20
Nvidia Corporation shares dropped 3.1% as investors awaited its upcoming earnings report, with the focus on AI sector performance amid high expectations.
|
|
|
Apple Inc. (AAPL)
📈
Day Change: 0.6% | Market Cap: $3390.0b
Business Excellence2:
98
| Valuation2:
51
Apple Inc. shares edged up following the announcement of a $500 billion U.S. investment plan, including 20,000 new jobs and a Texas AI server factory.
|
|
|
Berkshire Hathaway Inc. (BRK-A)
📈
Day Change: 4.0% | Market Cap: $1003.8b
Business Excellence2:
92
| Valuation2:
18
Berkshire Hathaway shares rose 4% after reporting a 70% increase in Q4 operating earnings, fueled by strong insurance operations and investment income.
|
|
|
Alibaba Group Holding Limited (BABA)
💥
Day Change: -10.2% | Market Cap: $221.9b
Business Excellence2:
88
| Valuation2:
21
Alibaba Group shares declined following the announcement of a $52 billion investment in AI and cloud infrastructure, raising concerns over short-term profitability.
|
|
|
Palantir Technologies Inc. (PLTR)
💥
Day Change: -10.5% | Market Cap: $172.9b
Business Excellence2:
95
| Valuation2:
18
Palantir Technologies shares plunged 10.5%, primarily due to ongoing concerns over potential U.S. defense budget cuts that could impact government contracts.
|
|
|
NIKE, Inc. (NKE)
📈
Day Change: 4.9% | Market Cap: $110.9b
Business Excellence2:
86
| Valuation2:
70
Nike shares climbed nearly 5% after an upgrade from Jefferies analysts, citing expected recovery in profit margins and EPS.
|
|
|
Super Micro Computer, Inc. (SMCI)
📉
Day Change: -8.0% | Market Cap: $19.1b
Business Excellence2:
97
| Valuation2:
61
Super Micro Computer shares fell 8% ahead of its deadline to issue delayed 2024 financial reports, with fears of potential Nasdaq delisting driving the decline.
|
|
|
Rivian Automotive, Inc. (RIVN)
📉
Day Change: -7.8% | Market Cap: $12.5b
Business Excellence2:
50
| Valuation2:
23
Rivian Automotive shares fell 7.8% after a downgrade from analysts, who cited production capability concerns and EV market competition.
|
|
|
Walgreens Boots Alliance, Inc. (WBA)
📈
Day Change: 6.5% | Market Cap: $10.3b
Business Excellence2:
9
| Valuation2:
52
Walgreens Boots Alliance shares surged after reports that Sycamore Partners is securing financing for a potential buyout, boosting investor optimism.
|
|
|
Lucid Group, Inc. (LCID)
📉
Day Change: -9.2% | Market Cap: $7.3b
Business Excellence2:
40
| Valuation2:
15
Lucid Group shares dropped after being downgraded by analysts due to delivery target uncertainties and industry challenges.
|
|
|
|
