S&P 500 Makes Weekly Gain As Fed Pauses For First Time In 15 Months; AMD Disappoints With AI Chip Launch; Adobe Beats All Expectations
Portfolio Pulse from Natan Ponieman
The S&P 500 gained this week as the Fed paused interest rate hikes for the first time in 15 months. AMD disappointed with its AI chip launch, while Adobe beat all expectations. Cava debuted on the NYSE, raising $318 million in one of the year's largest IPOs.
June 16, 2023 | 8:01 pm
News sentiment analysis
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NEGATIVE IMPACT
AMD unveiled a new AI chip, but the stock dropped 6.63% this week due to a slow market rollout and lack of a committed customer list.
Despite the new AI chip announcement, AMD's stock dropped due to concerns about the slow market rollout and lack of a committed customer list. This indicates a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Adobe beat estimates on its Q2 earnings call, with revenue increasing 10% YoY to $4.82 billion. Shares were up more than 6.79% on the week.
Adobe's strong Q2 earnings and revenue growth exceeded expectations, leading to a significant increase in share price. This is likely to have a positive short-term impact on the stock.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Cava debuted on the NYSE, raising around $318 million in one of the 10 largest IPOs of the year. Shares soared as much as 117%.
Cava's successful IPO and the significant increase in share price indicate strong investor interest and confidence in the company. This is likely to have a positive short-term impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100