In a significant corporate move, Amazon announced plans to cut 14,000 corporate jobs, coinciding with UBS raising its price target for Amazon stock from $271 to $279. Analysts predict an 18% growth for Amazon Web Services, a notable increase from the previous quarter’s growth of 17%. All eyes are on Amazon’s earnings report, scheduled for Thursday evening.
In the tech sector, Nvidia’s CEO Jensen Huang is set to speak at the GTC Washington keynote at noon ET, raising speculation about potential impacts on Nvidia’s stock. On another front, Advanced Micro Devices has secured a crucial contract with the Energy Department to develop supercomputers, while Citi raised concerns over Qualcomm’s ambitious plans in artificial intelligence.
PayPal has struck a notable deal with OpenAI, becoming the first payments service integrated into ChatGPT Wallet. This partnership is part of OpenAI’s broader strategy to expand ChatGPT across multiple verticals. PayPal’s recent earnings and revenue report exceeded expectations, prompting a more than 16% rise in its stock.
United Parcel Service’s (UPS) turnaround appears to be gaining momentum, as the company reported quarterly earnings and revenue that surpassed estimates. UPS’s strong results come alongside a restructuring effort that has included the reduction of 34,000 jobs. The company’s shares surged by 12% in response.
Celestica experienced an 11% jump in share prices after the contract manufacturer reported impressive quarterly results. The company has raised its guidance for full-year 2025 and provided an optimistic outlook for 2026. CEO Rob Mionis is scheduled to discuss these developments on “Mad Money” tonight.
Glass manufacturer Corning, a newly added stock in the Club’s portfolio, reported slightly better-than-expected quarterly earnings, although its shares fell over 5% due to smaller-than-expected gains compared to previous quarters. Nevertheless, the company’s stock has surged over 80% year-on-year.
Carrier reported earnings ahead of expectations, but its forecast was cut despite identifying a $20 billion opportunity in data centers. Donald Trump publicly thanked Carrier for its ongoing contributions to HVAC systems for the White House, a collaboration dating back to 1930.
Citi has increased its price target for Palantir to $190 from $177 while maintaining a neutral rating. Analysts expressed skepticism about Palantir’s ability to replicate last quarter’s success, though this assessment has faced some disagreement.
UnitedHealth also surpassed earnings and revenue expectations, leading to an increase in forecasts. The stock has risen more than 4% this morning, suggesting that investors are cautiously optimistic about the company’s ability to move past recent challenges.
Lastly, Wayfair’s shares soared over 14% after the online retailer exceeded predictions with its quarterly revenue and earnings reports. Despite initial concerns about potential tariffs from China, the company anticipates a mid-single-digit revenue increase for the current quarter, surpassing earlier estimates of 3.3%.
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