News & Events zu Clover Health Investments Corp (CLOV)CLOVClover Health Investments Corp

Nasdaq Composite Falls 1.3% as Tech Stocks Struggle

S&P 500 slipped for the second consecutive day while losses on the tech-dominant Nasdaq Composite accelerated, with the index finishing lower by 1.3% on Thursday.  Technology was by far the worst-performing sector in the benchmark S&P as AI buildout theme was thumped by a Financial Times report, stating that OpenAI's annualized revenues were closer to $50B at the end of September -  well below the $70B figure previously circulated.  Micron, Sandisk, Intel, Broadcom, Seagate, AMDand Oraclewere among the 20 worst stocks in the S&P 500, with losses of at least 4%.  Meanwhile, software and IT services stocks such as Accentureand Gartner- names viewed to be most exposed to AI disruption - rallied by at least 5%.In the opening hour of the evening session, S&P e-minis and Nasdaq 100 contracts are up a decimal. In commodities, WTI Crude Oil was off the highs but still above $91 per barrel.  Energy prices rallied sharply this morning on reports that U.S. may conduct heavy strikes on Iran before the US midterm elections.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Park Aerospace Corp.up 2.7%Oil-Dri Corporation of Americaup 1.0%ALSO HIGHER -XORTX Therapeuticsup 23.9% as company outlines anticipated clinical trial application for XRx-026Humanaup 12.7%, Clover Healthup 10.9%  after CMS published 2027 MA - Medicare Part C - and Part D Star RatingsGinkgo Bioworks Holdings, Inc.up 1.0% after announcing it will provide autonomous lab access to NSF X-Labs researchersLOWER -AT&Tdown 6.6%, T-Mobiledown 6.6%, Verizondown 6.2% following announcement by SpaceXthat it has acquired a nationwide low-band spectrum license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band.Alignment Healthcaredown 23.1%, CVS Healthdown 3.1%, Cignadown 1.8%, Elevance Healthdown 1.6% after CMS published 2027 MA - Medicare Part C - and Part D Star RatingsBraemar Hotels & Resortsdown 3.3% after FY27 guidanceAmerican Expressdown 1.8% after announcing consent to Federal Reserve and OCC compliance orders

Major Averages Close Broadly Lower as Oil Surpasses $100

The major averages closed broadly lower, extending the week's sharp losses as oil surpassed $100 per barrel amid escalating tensions between the U.S. and Iran as part of a war that has reached its seventh month. The increase in oil prices is keeping inflation front and center, as is today's producer price index report. For the Federal Reserve's policy decision next week, markets are now pricing roughly a 62% probability of a 25-basis-point rate hike, a significant shift from expectations earlier in the month.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Macy'sprovided areport for Q2Nasdaqwill invest $100M inAeroVironmentreportedand reiterated its FY27 outlookBending SpoonsMiro for $1.355BOpenAI introduced2. WALL STREET CALLS:Meta Platformsto Overweight from Neutral at JPMorganUberto Neutral from Buy at AreteNikewith an Underweight at Morgan StanleyStoneXBlockto Buy, says AI rebuild is workingCooper Companiesat Piper Sandler, Baird, BofA and William Blair3. AROUND THE WEB:Federal officials are poised to declare an end to largest known cyclosporiasis outbreak, Washington Post reportsKinetikis in the early stages of exploring options, including a potential sale, Bloomberg reportsDellhas raised $5B from an investment-grade bond sale, riding the surge in revenue from AI servers, Bloomberg saysVolkswagenexpects the total cost of job cuts and potential plant closures will be around $18.6B, Reuters reportsOpenAI is expanding its ties with Samsung Electronicsas it works to develop its own chips, Reuters says4. MOVERS:Clover Healthgained after Deutsche Bankcoverage of the stock with a Buy ratingWealthfrontincreased after, with EPS missing consensusLincoln Electricdeclined after CFO Gabe Bruno said inflation willNavanfell afterand acquiring BoomPopAmerican Eaglewas lower afterand providing guidance for Q3 and FY265. EARNINGS/GUIDANCE:Shoe Station Groupand provided its outlook for FY26Vince Holdingthat CEO Brendan Hoffman called "strong," with "excellent growth across both our direct-to-consumer and wholesale channels"Designer Brandand raised its outlook for FY26Labcorpreaffirmed itsand provided its long-term outlookMasterCraft Boat, with EPS and revenue beating consensusINDEXES:The Dow fell 316.56, or 0.60%, to 52,064.10, the Nasdaq lost 171.62, or 0.65%, to 26,081.73, and the S&P 500 declined 44.66, or 0.58%, to 7,591.70.