Trump Media Shares Jump To Kick Off Election Day

2 minutes ago

Hours before the polls close on Tuesday (and more hours until Americans know who will be the next president), traders are betting on Trump, or at least the shares of his social media company.

Shares of Trump Media & Technology Group (DJT), the social media company that is majority owned by former President Donald Trump, recently surged 14%. The move extended a streak of wild trading that in recent days has seen parent company Truth Social’s shares and market value swing, often dramatically in a single day.

There hasn’t been much specific news about the company — in the form of regulatory filings, press releases or anything else — lately, but there has been plenty about Trump, the Republican presidential nominee, and his opponent, Democratic Vice President Kamala Harris.

The latest polls indicate a close race between the candidates. Meanwhile, in some prediction markets, the edge has shifted even more toward Trump of late.

As for the big picture before the decision: There you go of Investopedia most recently on the state of the US economyand here are our collections of economic propositions from both Harris and trump card. Early voters saw the economy as the key issue this year, fittingly a single survey.

DJT shares, meanwhile, are trading around $40, well above recent lows of nearly $12, but still substantially below early 2024 record highs around $80.

–David Marino-Nachison

Astera Labs rises nearly 30% after strong quarterly results

1 hour and 2 minutes ago

Astera Labs (ALAB) shares soared Tuesday morning after Nvidia (NVDA) supplier reported strong results in the third quarter amid demand for it artificial intelligence (AI) products.

The company, which produces chip-based connectivity products to boost AI efficiency, reported quarterly revenue of $113.1 million, up 47% from the previous quarter and up 206% year over year, while posting a net loss of $7.6 million or 5 cents per share.

It also forecast fourth-quarter revenue of $126 million to $130 million and earnings per share of 4 cents to 6 cents.

Astera, which it went public in Marchhe said in his initial public offering (IPO) submission that it is customers include some key players in the AI ​​space. Apart from Nvidia, these include advanced microdevices (AMD) and Intel (INTC).

In a note published on Monday, Jefferies analysts said the company “appears to be firing on all cylinders heading into 2025”. “Lots of love for this report with strength in a mix of products with demand from both NVDA and multiple AI ASIC platforms (probably AMZN and GOOG),” the broker said. Jefferies gave the stock a buy rating with a $69.65 price target.

The stock rose 28% to $89.25 in recent trading.

–Nisha Gopalan

Boeing shares rise as strike ends

2 hours and 17 minutes ago

Boeing (nay) shares rose in premarket trading Tuesday after machinists voted to approve a new contract, ending a crippling strike at the planemaker that had lasted nearly two months.

Members of the International Automobile Association accepted an offer that included 38 percent pay increases, along with a ratification bonus that workers can choose to use as part of their retirement savings. union rejected an earlier offer from Boeing which included a 35% wage increase, extending the strike which started on September 13th.

The striking employees, whose absence has brought production to a near standstill, can return to work on Wednesday “and must return by the start of the shift on November 12, 2024,” according to the union and the company.

Boeing has been hit by a series of crises this year, starting with the beginning of January when a door stopper came loose during an Alaska Airlines (ALK) flight. The cash drain from the strike prompted the plane maker to raise billions of dollars in financing.

CEO Kelly Ortberg announced plans to lay off approx 10% of the workforceor 17,000 workers, “in the coming months” and delay the launch of the Boeing model the first 777x plane.

Shares were up nearly 2 percent about half an hour before the opening bell. By Monday’s close, the stock had lost 40% of its year-to-date value.

–Nisha Gopalan

Palantir Price Levels to Watch by Pop

3 hours 27 minutes ago

Palantir (PLTR) shares rose in premarket trading on Tuesday, according to the analytics software provider exceeded estimates for the third quarter and raised its full-year revenue outlook amid strong demand for its AI offerings.

The stock consolidated in a widening formation leading into the company’s quarterly results, but bulls successfully defended the pattern’s lower trendline, with trading volume hitting its highest level since early October on Monday.

Investors should watch key overhead levels on Palantir’s chart around $45 and $60, while monitoring an important area of ​​support in the profit-taking periods between $41 and $38.

Palantir shares rose 14% to $47.25 in recent trading.

Read in full technical analysis here.

–Timothy Smith

Equity futures point to a higher open for the major indices

3 hours 57 minutes ago

Dow Jones Industrial Average futures rose 0.1%.

S&P 500 futures rose 0.2%.

Nasdaq futures rose 0.4 percent.