Nasdaq Down 300 Points; BlackRock Posts Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Nasdaq fell 300 points as U.S. stocks traded lower, with BlackRock posting upbeat earnings. Utilities and materials sectors saw declines, while specific companies like PaxMedica, EZGO Technologies, and NextPlat reported significant stock movements. Conversely, Motus GI Holdings, JPMorgan Chase, and Applied Digital Corporation experienced notable drops. The article also covers commodity prices, European and Asian market performances, and U.S. economic indicators.
April 12, 2024 | 7:00 pm
News sentiment analysis
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NEGATIVE IMPACT
Applied Digital Corporation's stock fell 12% after reporting worse-than-expected Q3 financial results.
Applied Digital Corporation's worse-than-expected financial results for Q3 are likely to negatively impact its stock price in the short term due to investor disappointment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
JPMorgan Chase's stock fell 6% following its first-quarter earnings report.
The decline in JPMorgan Chase's stock price following its earnings report suggests investor disappointment or concerns, likely leading to negative short-term price movement.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
BlackRock reported stronger-than-expected Q1 earnings, with revenue growth of 11% Y/Y and adjusted EPS up 24% Y/Y.
BlackRock's earnings beat is likely to positively impact investor sentiment and stock price in the short term due to the significant outperformance in both revenue and EPS.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100