Latest Stories
Broadcom (AVGO) Shares Skyrocket, What You Need To Know
Shares of fabless chip and software maker Broadcom (NASDAQ:AVGO) jumped 21.3% in the morning session after the company posted strong third-quarter (FQ4 2024) results, with revenue and EPS surpassing Wall Street's expectations. Revenue rose 51% compared to the prior year, fueled by strong contributions from VMWare. Given the strong top-line growth, operating margins climbed to 63%, though semiconductor gross margins softened slightly due to a higher mix of AI-driven products. AI emerged as a centerpiece of Broadcom's strategy, generating $3.7 billion in revenue during the quarter—a 150% increase year-on-year—and representing a substantial portion of semiconductor sales. This highlights the company's growing dependence on AI technologies as a driver of future growth.
Why Is Upstart (UPST) Stock Soaring Today
Shares of aI-powered lending platform Upstart (NASDAQ:UPST) jumped 15.1% in the afternoon session after Needham analysts upgraded the stock from Hold to Buy and assigned a price target of $100. Following UPST's recent earnings, the analysts added, "Coming off the meetings, we believe that UPST has achieved a proper balance in funding, largely due to the increased appetite and partnerships with committed capital buyers.".
RH (RH) Stock Trades Up, Here Is Why
Shares of luxury furniture retailer RH (NYSE:RH) jumped 19.4% in the pre-market session after the company reported strong third-quarter results. It was great to see RH raise its full-year revenue and EBITDA guidance. Notably, demand for RH's products accelerated in the quarter, and continued to strengthen into the final quarter of the year, a positive growth indicator amid recent macroeconomic challenges. On the other hand, this quarter's gross margin and EBITDA fell short of Wall Street's estimates while revenue was in line, but the market seemed to weigh the outlook more.