Wall Street Set To End Week On Subdued Note As CrowdStrike, Microsoft Drop Amid Global Outage: Analyst Sees 10% Upside Potential For S&P 500 Over Next 12 Months
Portfolio Pulse from Shanthi Rexaline
Wall Street is set to end the week on a subdued note as CrowdStrike and Microsoft drop amid a global outage. Despite recent tech-led sell-offs, analysts see a 10% upside potential for the S&P 500 over the next 12 months. Key companies like Netflix, Intuitive Surgical, American Express, Halliburton, Schlumberger, and Travelers are in focus due to earnings announcements.
July 19, 2024 | 11:21 am
News sentiment analysis
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NEGATIVE IMPACT
CrowdStrike's defect in a content update caused Microsoft's service outage, resulting in a 14% drop in its stock price.
The defect in CrowdStrike's update has severely impacted its reputation and stock price, leading to a significant short-term decline.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Microsoft experienced a significant service outage affecting various sectors globally, leading to a 2% drop in its stock price.
The service outage has a direct negative impact on Microsoft's operations and reputation, leading to a short-term decline in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Netflix fell 1.25% in premarket trading following its quarterly earnings announcement.
The decline in Netflix's stock price is a reaction to its quarterly earnings, indicating investor concerns over its performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Plug Power slumped about 11% following the company's plan to sell shares.
The plan to sell shares has negatively impacted Plug Power's stock price, indicating dilution concerns among investors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
SunPower plunged over 16.5% after announcing the halting of some operations.
The announcement of halting operations has led to a significant decline in SunPower's stock price, reflecting investor concerns.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
NEUTRAL IMPACT
Invesco QQQ ETF eased 0.03% in premarket trading.
The slight decrease in QQQ reflects a neutral to slightly negative sentiment in the tech sector.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust rose 0.04% in premarket trading.
The slight increase in SPY reflects a neutral to positive sentiment in the broader market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Intuitive Surgical climbed over 6.5% on strong earnings.
The strong earnings report has positively impacted Intuitive Surgical's stock price, leading to a significant short-term increase.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80