2 Hours Ago
Investors should eye emerging markets and small caps outside of the ‘Magnificent 7’ stocks, Richard Bernstein says
Investors should turn their attention to alternative investments including small caps and emerging markets outside of the “Magnificent 7” stocks, according to Richard Bernstein Advisors chief Richard Bernstein.
“There’s no sound wealth building strategy that says put all of your eggs in seven stocks, there has to be some opportunities outside the U.S. and in some smaller cap stocks,” Bernstein told CNBC’s “Power Lunch” on Tuesday.
“It’s such an amazing bearish view of the world to say there’s only seven companies we can invest in,” he added.
— Brian Evans
3 Hours Ago
Small-cap Russell 2000 notches four-day win streak
The Russell 2000 captured its fourth consecutive winning day in what had been a very tepid session for the major averages.
The small-cap index advanced more than 1% on Tuesday, outpacing the S&P 500‘s roughly 0.2% gain and the Nasdaq Composite‘s nearly 0.4% jump.
The last time the Russell 2000 notched four straight winning sessions was in late December 2023.
Though the small-cap index has been having a strong month – up 5.6% in February – it remains sharply behind the three major averages on the year. In 2024, the Russell 2000 is up only 1.4%, while the S&P 500 has already gained nearly 6.5%.
–Darla Mercado, Chris Hayes
3 Hours Ago
Stocks making the biggest moves after hours
Packages of Beyond Meat brand plant-based jerky in Lafayette, California, December, 2022.
Gado | Getty Images
Check out some of the companies making headlines in extended trading.
- Beyond Meat — Shares skyrocketed more than 78% after the plant-based meat company beat revenue estimates in the fourth quarter. Beyond Meat reported revenue of $73.7 million, while analysts polled by LSEG, formerly known as Refinitiv forecast $66.7 million.
- eBay — The online marketplace added 4% after announcing a dividend raise of 2 cents a share and an additional share buyback of $2 billion. Ebay’s fourth-quarter results beat Wall Street estimates on the top and bottom lines, while guidance for first-quarter earnings per share was above analysts’ estimates.
- First Solar — The solar company gained more than 3% after full-year guidance met Wall Street estimates. Fourth-quarter earnings of $3.25 per share beat analysts’ estimates of $3.13 per share, according to LSEG.
Read the full list here.
— Brian Evans
3 Hours Ago
First Solar stock jumps after earnings beat
First Solar‘s stock popped nearly 5% in extended trading after the company beat Wall Street’s earnings expectations.
The solar panel manufacturer booked net income of $349.2 million for the fourth quarter, an increase of 30% compared to the year-ago period.
First Solar posted a profit of $3.25 per share, beating Wall Street’s expectations of $3.13 per share. The company generated revenue of $1.16 billion for the quarter, missing Street expectations of $1.31 billion.
First Solar expects net sales of $4.4 billion to $4.6 billion in 2024 and adjusted earnings of $13 to $14 per share this year, which is largely in line with expectations.
— Spencer Kimball
3 Hours Ago
Stock futures are little changed
Stock futures were little changed on Tuesday, with investors turning their attention to fresh inflation data later this week.
Futures tied to the Dow Jones Industrial Average slipped 32 points, or 0.08%. S&P 500 Futures hovered near the flatline, while Nasdaq 100 futures fell 0.04%.
— Brian Evans
