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Micron earnings suggest chip downturn could be worse than Wall Street expects

Micron earnings suggest chip downturn could be worse than Wall Street expects

Micron Technology Inc. executives warned of a semiconductor slowdown in late June, but now say a “sharp and sudden” drop in demand has exceeded even those expectations, suggesting the current glut of chips could get worse. Micron MU, -1.94% reported a worse-than-expected fiscal fourth quarter on Thursday, with revenue down 23% from a year ago, …

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These 20 S&P stocks slipped as much as 21.5% in another brutal week for the market

These 20 S&P stocks slipped as much as 21.5% in another brutal week for the market

Another tough week for US equities ended with oil producer stocks falling and Ford Motor Co. falling on concerns about supply shortages. The S&P 500 SPX fell 1.7% on Friday for a 4.6% drop over the week as investors continued to worry about interest rate hikes from the Federal Reserve to temper inflation. Among the …

These 20 S&P stocks slipped as much as 21.5% in another brutal week for the market Read More »

Adobe's stock has come under fire for spending $20 billion on Figma.  But he now owns a rare business.

Adobe’s stock has come under fire for spending $20 billion on Figma. But he now owns a rare business.

Adobe beat revenue and profit expectations and announced the same day that it would acquire a smaller but faster-growing rival in online design collaboration tools. The stock market rewarded the company by driving down its ADBE shares, -3.12% to the lowest level in almost three years. Investors punished the company not for its earnings report, …

Adobe’s stock has come under fire for spending $20 billion on Figma. But he now owns a rare business. Read More »

The S&P 500 fell 5% in a very bad week for stocks.  Those 20 lost up to 24%.

The S&P 500 fell 5% in a very bad week for stocks. Those 20 lost up to 24%.

US stocks spat on Friday to end the week in the red. The day’s declines of less than 1% for the broad indices paled in comparison to Tuesday’s, when they fell 4% to 5%. For the week, the Dow Jones Industrial Average DJIA was down 1,329 points (or 4.1%), closing Friday at 30,822. The benchmark …

The S&P 500 fell 5% in a very bad week for stocks. Those 20 lost up to 24%. Read More »