DR Horton surges after beating profit estimates, leading S&P gainers
13 minutes ago
Shares of homebuilder DR Horton (DHI) soared on Thursday after the company reported better-than-expected sales and profits.
The Arlington, Texas-based company said third-quarter earnings per share rose 5 percent from a year ago to $4.10, and sales rose more than 2 percent to $9.97 billion.
DR Horton closed on 24,155 new homes during the quarter, up 5% from the same period last year and also beating consensus expectations, with the value of closed homes increasing by more than 6%.
The company's shares have risen more than 10% in recent trading, making it the top gainer in the S&P 500 index.
–Andrew Kessel
Infosys surges as guidance is raised amid AI spending boom
1 hour 34 minutes ago
Infosys (INFY) raised its revenue outlook, pointing to increased spending on artificial intelligence by clients of the information technology services provider.
The company said Thursday it now expects full-year fiscal 2025 sales growth to be in the range of 3% to 4% on a constant currency basis, up from its previous outlook of 1% to 3% growth.
Infosys ADRs rose about 8% in midday trading, bucking the broader market decline. The company's shares have risen 23% so far this year.
–Naomi Buchanan
SOXX Semiconductor ETF Levels to Watch
3 hours 41 minutes ago
The iShares Semiconductor ETF (SOXX) was up about 1% early Thursday after plunging 7% in the previous trading session amid growing concerns that chipmakers will face tougher U.S. trade restrictions and geopolitical tensions.
A look at the ETF chart shows that SOXX continues to maintain a long-term uptrend, but recent technical indicators suggest buying momentum is weakening.
During the retracement, the fund may encounter support at key chart levels such as $230, $180, and $148.
A bar pattern applying the fund's impulsive rally from October 2023 through March of this year to the April swing low predicts a price target of around $292.
Read the full technical analysis here.
–Timothy Smith
TSMC shares rise as demand for AI chips remains strong
4 hours 16 minutes ago
Taiwan Semiconductor Manufacturing Co. (TSM) shares rose at the open after the company reported second-quarter results that beat analysts' expectations amid surging demand for artificial intelligence (AI) chips.
TSMC's revenue increased 40% year-over-year, and profits increased 36%.
“Going into the third quarter of 2024, we expect strong smartphone and AI-related demand for our most advanced process technologies to support our business,” TSMC Chief Financial Officer Wendell Huang said.
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TSM ADRs rose about 1% at the open after dropping 8% on Wednesday due to a sell-off in semiconductor-related stocks generally.
–Aaron McDaid
Stock futures point to mixed open for major indexes
5 hours 21 minutes ago
Futures tracking the Dow Jones Industrial Average fell 0.2%.
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S&P 500 futures rose 0.2%.
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Nasdaq 100 futures rose 0.6%.
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