Traders work on the floor of the New York Stock Exchange during morning trading on August 23, 2024 in New York City.
Michael M. Santiago | Getty Images
Stocks @ Night is our daily after-hours newsletter, bringing you the latest on what’s on the horizon for tomorrow and what’s on the horizon for today. Sign up for free to receive it straight to your inbox.
CNBC TV producers share what they were watching during Thursday’s trading and what’s in the spotlight for Friday’s session.
Marvel Technology
Technology companies continue to report earnings on Thursday. Marvel TechnologyShares rose about 8% after trading hours after Marvel reported better-than-expected revenue for its latest quarter. Forecasts also came in stronger than expected. Marvel is down 18% from its high in March. Shares are up 8% in the past month. VanEck Semiconductor ETF (SMH) The stock is up 16% from its high on July 11 and up 36% year to date. Marvel is SMH’s 17th largest holding, making up 1.78% of the ETF.
Stock Chart IconStock Chart Icon
Marvell Technology’s financial results for 2024
CoolingNvidia
Yes, stocks did fall a bit on Thursday. They closed down 6.4%. NVIDIA The company reported second-quarter results, doubling revenue from the same period a year ago. The stock is now up 16.5% from its June 20 high. On Friday, CNBC’s Pippa Stevens will report on a part of Nvidia’s economy that perhaps doesn’t get enough attention: the companies that provide cooling technology for Nvidia’s chip manufacturing (and others). Companies in this space include: Vertive, Schneider Electric and nVent ElectricVertiv is down 27% from its May high but is up 66% in 2024. Schneider Electric is down 2% from its May high but is up 26% in 2024. nVent Electric is down 23% from its May high but is up 13% in 2024.
Apple’s iPhone and China
CNBC China correspondent Eunice Yun reports on tensions and unrest in China’s “iPhone City” over fears that more companies will leave China and relocate to other parts of the world, including India.apple The stock has risen 3% since its high on July 15. The stock is now up 20% in three months.
Stock Chart IconStock Chart Icon
Apple’s performance over the past three months
Investing in OpenAI
In the past 24 hours, the list of big technology companies wanting to join OpenAI has expanded. According to media reports, the list also includes Apple and Nvidia. Of course, Microsoft is already on the list. Microsoft shares are down 12% from their high on July 5. The stock is down 3.2% in a month, but is up about 10% so far in 2024.
San Francisco Office Space
Social media platform X is closing shop in the Gulf city. Other big companies are dumping shop as AI companies move in. CNBC’s Kate Looney will report the news on Friday. Some of the big office real estate investment trusts seeing the changes firsthand: BXP and CBRE.BXP hit a new record high on Monday. The stock is up 30% in three months. CBRE also hit a new record high on Monday. The stock is up 33% in three months.
Stock Chart IconStock Chart Icon
BXP and CBRE in the past three months
Ubisoft
The French software maker is set to release the “Star Wars Outlaws” video game on Friday.The stock has risen 43 percent from a November high and is down 26 percent so far this year.Electronic Arts The stock is up 2% from its high on July 31. The stock is up 14% in three months and should be up about 10% in 2024.
Dow Jones Industrial Average
30 brands Dow It hit a new all-time high on Thursday, up about 2% in a month. None of the top seven stocks in the Dow are tech companies.Nike Great! The stock price is up 13% in one month.McDonald’s It increased by 10% in one month.Walmart It increased by about 10% in one month.coca cola It’s up about 8% in one month.3M It increased by 6.2% in one month.Traveler It increased by 5.8% in one month.J.P. Morgan It increased by 5.4% in one month.
