?? What's Next? - TSMC's Stellar Q2 Results Amid Market Turbulence

S&P 500 5,588.27 -78.93 (-1.39%)

Dow Jones 41,198.08 +243.60 (+0.59%)

NASDAQ 17,996.92 -512.42 (-2.77%)

Market close: July 17, 2024

Breaking News

What's Next? - TSMC's Stellar Q2 Results Amid Market Turbulence

Taiwan Semiconductor Manufacturing Company reported a sharp rise in Q2 profits, surpassing expectations despite recent market jitters over U.S.-China tensions and Trump's comments on Taiwan. Strong sales of advanced chips boosted TSMC's outlook, hinting at a promising third quarter ahead. MarketWatch reports.

Image source: Wikimedia Commons

The Warm Up

HealGrowth: J&J beats Wall Street estimates on strong drug sales. Reuters reports.

Chipfall: Global chip stocks from Nvidia to ASML fall on geopolitics, Trump comments. CNBC reports.

newCEO: HSBC names veteran Elhedery as CEO, signals continuity in strategy. Yahoo Finance reports.

SubSlow: Netflix's efforts to grow ad tier in focus as subscriber growth slows. Reuters reports.

AppleHome: Apple launches $50 million fund to boost affordable housing in Bay Area. Benzinga reports.

StarBenz: Mercedes-Benz unit partners with Starbucks for fast-charging stations in US. Yahoo Finance reports.

Tech Thursday

How AI and automation will reshape grocery stores and fast-food chains

AI isn’t just a hyped innovation in the tech sector; the food industry is also investing heavily in the red-hot trend. Americans heading to the grocery store or their favorite fast-food restaurant will already have noticed the introduction of the new technology in such services as self-checkout kiosks and even AI ordering in drive-thru lanes.

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Yesterday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on July 17.

(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)

1. $CETU: Cetus Capital Acquisition

Total gain: 81.22%

The stock appeared to be moving on no notable news.

2. $SHIM: Shimmick Corporation

Total gain: 53.14%

The company announced that it has signed a $27,583,595 subcontract for electrical work on the Sunol Valley Water Treatment Plant Ozonation project. Benzinga reports.

3. $ADTX: Aditxt

Total gain: 45.63%

The company announces that it, its wholly owned subsidiary Adifem and Evofem Biosciences amended and restated their Merger Agreement. This amended and restated Merger Agreement, among others, addresses pre-closing issues critical for Evofem's future success, including interim financing needs. Benzinga reports.

Today’s Notable Earnings

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

WAL Western Alliance

2Q 2024

After Market Close Estimate: 1.700 Actual: N/A

INDB Independent Bank

2Q 2024

After Market Close Estimate: 1.110 Actual: N/A

NFLX Netflix

2Q 2024

After Market Close Estimate: 4.420 Actual: N/A

Today’s Key Economic Dates

Time (ET) / Report / Period

8:30 am Initial jobless claims - July 13

8:30 am Philadelphia Fed manufacturing survey - July

10:00 am U.S. leading economic indicators - June

Extra-Time

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Parting Thoughts

“Successful investing is about managing risk, not avoiding it.” ― William J. Bernstein

Sourced in: “The Four Pillars of Investing: Lessons for Building a Winning Portfolio”, by William J. Bernstein, published in 2002