Major U.S. indexes closed lower, with the Dow Jones Industrial Average dropping 1.6% to 46,225.15, the S&P 500 slipping 1.36% to 6,624.70, and the Nasdaq falling 1.46% to 22,152.42.
The Federal Reserve maintained interest rates at 3.50%–3.75% for the third consecutive meeting. Despite the unchanged rates, the Fed’s outlook suggested higher inflation and slightly increased economic growth in the future. The market’s reaction was muted, with the S&P 500 and Nasdaq indices showing little movement. Investors are keeping a close eye on Fed Chair Jerome Powell’s upcoming remarks, particularly in light of recent oil price spikes.
These are the top stocks that gained the attention of retail traders and investors through the day:
Micron Technology Inc. (NASDAQ:MU)
Micron Technology’s stock closed with a slight increase of 0.01%, settling at $461.73. The stock reached an intraday high of $471.34 and a low of $458.30, with a 52-week range between $61.54 and $471.34. In the after-hours trading, the stock fell 4.43% to $441.28.
The semiconductor giant reported impressive second-quarter results, with revenue soaring to $23.86 billion, surpassing analyst expectations of $19.94 billion. The company’s adjusted earnings of $12.20 per share also exceeded forecasts. Micron’s strong performance reflects a 196% year-over-year revenue growth, with operating cash flow reaching $11.90 billion.
Micron Technology forecast third-quarter revenue of $33.5 billion (±$750 million) and adjusted EPS of $19.15 (±$0.40), both well above estimates of $23.8 billion and $11.70, respectively. It also raised its quarterly dividend by 30% to $0.15 per share, payable April 14 to shareholders on record as of March 30.
Carvana Co. (NYSE:CVNA)
Carvana’s shares dropped by 7.49%, closing at $291.17. The stock fluctuated between an intraday high of $314.62 and a low of $290.01, with a 52-week high of $486.89 and a low of $148.25.
The decline comes amid broader market pressures, as the S&P 500 and Nasdaq Composite both fell due to geopolitical tensions and rising producer prices. The increase in financing costs for Carvana’s retail customers is complicating the Federal Reserve’s path to interest rate cuts.
Cloudflare Inc. (NYSE:NET)
Cloudflare’s stock surged by 6.60%, closing at $225.48. It reached an intraday high of $229.15 and a low of $210.25, with a 52-week range of $89.42 to $260.
The increase in the stock price was accompanied by a significant Power Inflow alert, a bullish indicator that traders closely monitor. This alert, based on order flow analytics, provides insights into real-time buying and selling trends, helping traders make informed decisions.
Meanwhile, Coinbase and crypto infrastructure startup Zerohash are reportedly competing to launch a new stablecoin for Cloudflare, which is expected to debut later this year.
A report from The Information, citing sources familiar with the discussions, said the partnership could position the winning stablecoin at the core of agent-driven internet traffic, given Cloudflare’s central role in handling web traffic and cybersecurity.
Comcast Corporation (NASDAQ:CMCSA)
Comcast’s stock fell by 5.02%, ending the day at $28.57. The stock’s intraday range was between $30.11 and $28.53, with a 52-week high of $35.33 and a low of $24.12.
Comcast recently partnered with Nvidia to test real-time AI workloads at the network edge using distributed infrastructure, aiming to deliver faster, low-latency applications closer to users, according to a company statement. The initiative also explored use cases like personalized ads, small business AI agents, and improved gaming performance while evaluating efficiency and scalability.
Barrick Mining Corp (NYSE:B)
Barrick Mining’s shares decreased by 5.47%, closing at $40.46. The stock’s intraday high was $41.34, with a low of $40.12, and a 52-week range between $17 and $54.69.
The drop in Barrick’s stock is attributed to weaker gold prices, which fell 1.7% to $4,917 per ounce. The sell-off in gold and silver is being exacerbated by a strong dollar, which has become the market’s preferred safe haven amid geopolitical tensions.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Photo Courtesy: Vintage Tone on Shutterstock.com
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