?? Apple's $110 Billion Buyback
S&P 500 5,064.20 +45.81 (+0.91%)
Dow Jones 38,225.86 +322.57 (+0.85%)
NASDAQ 15,840.96 +235.48 (+1.51%)
Market close: May 2, 2024
Breaking News
Apple has authorized $110 billion in share repurchases a 22% increase over last year’s $90 billion authorization and its largest buyback in history. CNBC reports.
(Source: Wikimedia Commons )
The Warm Up
McStoppage: The long predicted consumer pullback finally hit restaurants like Starbucks, KFC and McDonald’s with some chains reporting same-store sales declines this quarter. CNBC reports.
FedUp: Wednesday’s Federal Reserve policy decision was fairly boring for investors — officials kept interest rates the same, just as they have since July 2023. CNN reports.
GreenWashing: Air France, its Dutch KLM arm and Lufthansa's Brussels Airlines are among 20 airlines being investigated by the European Union for potentially misleading greenwashing practices. Reuters reports.
TaylorTok: Universal Music Group, the record label for top music artists including Taylor Swift, struck a new licensing agreement with TikTok, putting an end to a spat between the two companies. CNBC reports.
Breezy: Orsted, the world's biggest offshore wind farm developer, reported on Thursday a rise in first-quarter operating profit thanks to higher earnings from its offshore wind farms, and confirmed its full-year guidance. Reuters reports.
Framework: Japanese Prime Minister Fumio Kishida unveiled an international framework for regulation and use of generative AI on Thursday, adding to global efforts on governance for the rapidly advancing technology. ABC News reports.
Friday Fact
Did you know? One Penny Costs More To Manufacture Than It Is Worth.
It costs the government roughly $0.02 to make a single penny. No wonder we’re in debt!
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Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on May 2.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
1. $EBS: Emergent BioSolutions
Total gain: (69%)
The company reported financial results for the first quarter ended March 31, 2024. Benzinga reports.
2. $ASPN: Aspen Aerogels
Total gain: (56%)
The company announced financial results for the first quarter of 2024, and discussed recent business developments. Benzinga reports.
领英推荐
3. $ENVX: Enovix
Total gain: (45%)
The company has reported first quarter 2024 results. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
FUBO FuboTV
1Q 2024
Before Market Open Estimate: -0.22 Actual: N/A
HSY Hershey
1Q 2024
Before Market Open Estimate: 2.79 Actual: N/A
XPO XPO
1Q 2024
Before Market Open Estimate: 0.67 Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
8:30 am U.S. Employment Report - April
8:30 am U.S. Hourly Wages - April
8:15 pm New York Federal Reserve President, John Williams, Speech
Extra-Time
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Parting Thoughts
“Wealth is largely the result of a habit.”
― John Jacob Astor
The Savvy Investor's Guide to Building Wealth Through Traditional Investments. By H. Kent Baker, John R. Nofsinger, Andrew C. Spieler · 2020
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