Wednesday Morning's Trades


(MENAFN- Baystreet) Ocean Power Jumps on Funding

  • PNC Invests $1B in Nationwide Banking Network
  • Avoid the Biotech and Solar Sector
  • Kornit Falls on Q4 FY Results
  • Instacart Dips on Layoffs Previous Articles Subscribe to Get Small Cap News & Alerts Chris La - Wednesday, February 14, 2024

    Wednesday Morning's Trades

    The market sentiment reversal following January's inflation report will put struggling companies on watch. Maplebear (CART), which runs Instacart, announced it would cut 250 of its talented team members. In Q4, it posted profits falling to 44 cents a share, down from $1.11. Total revenue increased by 6% to $803 million.

    Instacart's results are below analyst targets.

    High-end gaming and peripherals supplier Corsair Gaming (CRSR) is on the move down again. The firm posted revenue rising by 4.7%, below the expectations for growth of 7.5%. It earned 22 cents a share.

    In the entertainment sector, Paramount (PARA) will try to rebound from yesterday's 3% drop. It is reportedly cutting 800 jobs. Cost reductions are CEO Bob Bakish's top priority this year. Paramount's weak stock might hurt Warner Bros. Discover (WBD), which closed below $10.00 on Tuesday. Investors are wary of buying companies that have high debt and reliance on advertising revenue.

    In the crypto market, watch Bitcoin (BTC-USD). It pulled back from $50,000 when the inflation report lowered the chances of the Fed lowering interest rates. Fintech firms are the stocks to avoid today. Marqeta (MQ), PayPal (PYPL), and SoFi (SOFI) may underperform in the days ahead. Investors may prefer more conservative holdings like Ally Financial (ALLY) instead.





    • About Us
    • Contact Us
    • Advertise
    • License Our Content
    • Jobs
    • Disclaimer
    • Privacy Policy

    Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks

    MENAFN14022024000212011056ID1107852017


  • Legal Disclaimer:
    MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.