Nov 30th, 2023 – Thursday was a good day for the markets, with the S&P growing 0.38%, NASDAQ by 0.25% and Dow Jones by 1.47%. European markets closed higher this Thursday rounding off the month as investors assessed inflation data in the Eurozone, suggesting pressure from rising prices is easing. The regional Stoxx 600 closed up 0.5% at a 10-week high. (J.Reid)
Salesforce’s (CRM) stock climbed 7.4% after October-quarter earnings topped estimates, as the cost cutting process improved profit margins while revenue met views. Guidance for CRM stock came in over the expectations despite the rise in CRM over the year. For the quarter ended Oct. 31 earnings jumped 51% to $2.11 per share and revenue climbed 11% to $8.72 billion, surpassing the expectations of $2.05 earnings per share on sales of $ 8.715 billion. The company closed the day with a growth of 9.36%.(R.Krause)
ImmunoGen (IMGN) stock skyrocketed 81%, following the announcement that biopharmaceutical company AbbVie (ABBV) agreed to buy the cancer treatment developer for $10.1 billion. Abbvie will acquire all outstanding shares of ImmunoGen for $31.26 per share. At the end of the day the growth reached 82.75%.(A.Palumbo)
Portfolio holding Nvidia (NVDA)(0.2773 units @ 471.73) stock price decreased after the CEO, Jensen Huang, said that the company is “at least a decade away from supply chain independence from chinese manufacturing”. The company also warned in their third-quarter earnings that it expects negative impact from U.S controls during the fourth quarter, as they have been subject to increasingly tighter export controls limiting their ability to send GPUs used for AI development to China. All of this occurs after Biden’s administration prioritized limiting China’s access to resources coming from the US. The company closed the day at -2.85%. (R.Goswami)
Author: Luca Sesena