Latest news with #Dow
Yahoo
2 hours ago
- Business
- Yahoo
Is Essex Property Trust Underperforming the Dow?
Valued at a market cap of $18.3 billion, Essex Property Trust, Inc. (ESS) is a self-administered and self-managed real estate investment trust (REIT). Headquartered in San Mateo, California, the company acquires, develops, redevelops, and manages apartment communities in selected residential areas located on the West Coast of the United States. Companies valued at $10 billion or more are generally classified as 'large-cap' stocks, and Essex Property Trust Energy fits this description perfectly. The company has ownership interests in 257 apartment communities comprising over 62,000 apartment homes, with an additional property in active development. Dear Tesla Stock Fans, Mark Your Calendars for June 30 3 ETFs with Dividend Yields of 12% or Higher for Your Income Portfolio Nvidia Is Quickly Approaching a New Record High. Is It Too Late to Buy NVDA Stock? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Essex Property Trust's stock dropped 10.6% from its 52-week high of $317.73. Shares of ESS have declined 5% over the past three months, lagging behind the broader Dow Jones Industrials Average's ($DOWI) 1.4% increase. In the longer term, shares of Essex Property have decreased marginally over the past 52 weeks, underperforming the Dow Jones' 8.6% return over the same time frame. Additionally, ESS stock has dropped marginally on a YTD basis, aligning with the DOWI's performance over the same time period. The stock has been trading below its 200-day moving average since early April. Yet, it has risen above its 50-day moving average since mid-June. ESS stock rose 1.5% following its solid Q1 2025 results on Apr. 29. The company's same-property revenues increased 3.4% year-over-year, while net operating income rose 3.3% from the prior year quarter to $284.9 million. Its core FFO came in at $3.97 per share, reflecting a 3.7% increase from the year-ago quarter and surpassing the consensus estimate of $3.92. The growth in core FFO was primarily driven by strong same-property revenue performance, increased co-investment income, and reduced interest expense. In contrast, rival Invitation Homes Inc. (INVH) has underperformed ESS stock over the past 52 weeks, declining 5.5%. Although INVH stock has returned 5.6% on a YTD basis, surpassing ESS stock. While the stock has underperformed relative to the Dow over the past year, analysts have a moderately optimistic outlook. With 27 analysts covering the stock, the consensus rating is 'Moderate Buy,' and it is currently trading below the mean price target of $309.12. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Time of India
3 hours ago
- Business
- Time of India
US Stock market today: Wall Street edges higher as Trump comments jolt Fed outlook, chip stocks rebound sharply after recent slump
US Stock market today: Dow, S&P 500, Nasdaq react as Trump's Iran deadline and Fed rate cut hopes drive market uncertainty- US stock market today showed mixed signals as Wall Street reacted to two major developments — President Donald Trump's two-week deadline on military action against Iran and renewed expectations for a Federal Reserve interest rate cut by July. As traders returned after the Juneteenth holiday break, markets digested global tensions and economic policy shifts. The Dow Jones Industrial Average (^DJI) climbed 0.4%, while the S&P 500 (^GSPC) posted a modest 0.2% gain. In contrast, the Nasdaq Composite (^IXIC) dipped slightly below the flatline, reflecting cautious investor sentiment, especially in tech stocks. Stocks slipped on Friday as investors digested geopolitical tensions, mixed economic signals, and rising trade risks. The S&P 500 fell 0.3% while the Nasdaq Composite shed 0.7%. The Dow Jones Industrial Average hovered near the flatline, adding just 0.2%. Why are chip stocks under pressure again? Tech stocks, especially semiconductors, were hit hard after a Wall Street Journal report revealed the US is considering revoking key waivers that allow global chipmakers to use American tech in China. Nvidia (NVDA) slipped over 1%, while Lam Research (LRCX), Applied Materials (AMAT), TSMC (TSM), and Broadcom (AVGO) each dropped between 2% and 4%. The move signals a potential intensification in the US-China tech war, adding a fresh layer of uncertainty for the sector. Live Events Circle extends rally on crypto optimism Amid the market gloom, crypto firm Circle (CRCL) surged another 13% to trade near $227 following a 30% rally earlier in the week. The bullish momentum was fueled by the Senate's passage of the GENIUS Act, laying a regulatory framework for stablecoins. Seaport Research Partners rated Circle a 'Buy' with a $235 price target, calling it a top-tier disruptor poised to benefit from global stablecoin adoption. Accenture, Kroger, CarMax in the earnings spotlight Accenture (ACN) tumbled 6% as bookings fell 6% YoY to $19.7 billion, despite revenue and earnings beating estimates. The firm is grappling with slower federal contract activity under Trump's spending cuts. Kroger (KR) jumped nearly 9% after raising its full-year sales outlook, though it kept profit guidance unchanged amid persistent consumer caution. CarMax (KMX) rallied over 6% following strong earnings and revenue growth, driven by a 5.8% jump in used car sales. What's the impact of 'triple witching' on stocks? Wall Street is also bracing for potential volatility following today's 'triple witching' — the quarterly expiration of $6.5 trillion in stock options, index options, and futures contracts. While the event itself was relatively calm, it may open the door for sharper market swings next week as traders reset positions. Key Market Movers (as of 11:15 AM ET): S&P 500 (GSPC): -0.3% Nasdaq Composite (IXIC): -0.7% Dow Jones (DJI): +0.2% Crude Oil (CL=F): +0.16% to $75.26 Circle (CRCL): +13.63% to $226.76 Accenture (ACN): -6.05% Kroger (KR): +8.70% CarMax (KMX): +6.12% Why is Trump's two-week Iran deadline rattling investors? President Trump has imposed a two-week window to decide whether the US will directly engage in the ongoing Israel-Iran conflict, as announced via the White House press secretary on Thursday. The market response to this geopolitical news was immediate, with investors growing uneasy over the potential for broader Middle East instability and its impact on oil prices, defense stocks, and global trade. Although this deadline adds a layer of geopolitical pressure, it also offers a brief diplomatic window. European foreign ministers from France, the UK, and Germany are holding critical talks with Iranian officials in Geneva, hoping to convince Iran to return to negotiations. However, Iran's president swiftly rejected any such efforts on Friday, dampening hopes for a quick resolution. Could July be the turning point for Fed rate cuts? Amid these global concerns, Federal Reserve Governor Chris Waller on Friday suggested that interest rate cuts as early as July are not off the table. Waller pointed to recent inflation data that appears relatively tame — even after Trump's introduction of new tariffs — as a reason to consider easing policy. Although the Federal Reserve chose to hold rates steady this week, Chair Jerome Powell emphasized a cautious approach, stating the central bank is 'not rushing' to cut. This led President Trump to criticize the Fed again, highlighting the friction between the White House and monetary policymakers. Waller's remarks nudged up the market's expectations for a rate cut in July, though according to CME Group data, most traders still believe a cut is more likely in September. What does the market reaction say about investor sentiment? The stock market's mixed movement reflects a blend of optimism about potential rate cuts and fear over geopolitical escalation. The Dow's rise suggests investors are leaning into more traditional, stable sectors, while the Nasdaq's weakness shows caution in higher-risk tech names. Market analysts say investors are balancing two key themes: one, the possibility of lower borrowing costs that could support growth and equity valuations; and two, the real-world risks of a US-Iran confrontation that could disrupt markets globally. How are Trump's tariffs influencing the Fed's outlook? Trump's recent move to reintroduce tariffs on several key goods has created new complications for the Fed. While tariffs often stoke inflation, current data hasn't shown a sharp uptick, giving the Fed more flexibility. That said, if trade tensions escalate or if tariffs weigh on consumer spending, the case for a rate cut could strengthen. Waller highlighted that inflation indicators are 'coming down slightly,' despite the added pressure from tariffs. This nuance could be a key part of the Fed's July policy discussions — particularly if Trump's foreign policy developments intensify economic uncertainty. What should investors watch for next? Looking ahead, markets will closely track: Any statements from the Trump administration regarding the Iran deadline Progress in the European diplomatic talks with Iran Key economic data releases including inflation and jobless claims Comments from other Fed officials, which may further guide rate expectations With the Middle East situation evolving and economic policy still in flux, volatility could remain elevated in the short term. As the US stock market today reacts to President Trump's Middle East stance and hints of a July Federal Reserve interest rate cut, investors are navigating a delicate balance of political risk and economic hopes. With fresh diplomatic efforts underway and the Fed keeping all options open, the next two weeks could be pivotal in shaping market direction. FAQs: Q1. What did President Trump announce about the US-Iran conflict? A1. He set a two-week deadline to decide on possible US military action. Q2. Will the Federal Reserve cut interest rates in July? A2. Fed officials hinted it's possible if inflation stays low.
Yahoo
4 hours ago
- Business
- Yahoo
TD Cowen Remains Bullish on MicroStrategy (MSTR)
MicroStrategy Incorporated (NASDAQ:MSTR) is one of the 13 Crypto Stocks with the Highest Upside Potential. On June 17, TD Cowen analyst Lance Vitanza maintained a Buy rating on MicroStrategy Incorporated (NASDAQ:MSTR) with a price target of $590. The rating update came after MicroStrategy Incorporated (NASDAQ:MSTR) announced that it acquired 10,100 Bitcoins in the June 9 to June 15 period for around $1.05 billion. The average price of the Bitcoins came up to $104,080 per bitcoin, as per Strategy's 8-K filing with the US Securities and Exchange Commission (SEC). After the acquisition, the company holds 592,100 Bitcoins at an average price of $70,666, collectively valued at over $63 billion. A software engineer wearing a headset, collaborating with a remote team on a project. MicroStrategy Incorporated (NASDAQ:MSTR) spent around $41.84 billion to acquire these Bitcoins and conducted the latest acquisition using the proceeds from its preferred share offering. The company's total Bitcoin holdings now represent around 2.8% of the total Bitcoin supply of 21 million. MicroStrategy Incorporated (NASDAQ:MSTR) engages in the development of the Bitcoin network through its operations in technology, financial markets, and advocacy. It is the world's largest corporate holder of Bitcoin. While we acknowledge the potential of MSTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
- Yahoo
Rosenblatt Securities Raises Bitdeer Technologies' (BTDR) Price Target to $20 from $15
Bitdeer Technologies Group (NASDAQ:BTDR) is one of the 13 Crypto Stocks with the Highest Upside Potential. On June 16, analyst Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on Bitdeer Technologies Group (NASDAQ:BTDR), raising the price target to $20.00 from $15.00. The rating upgrade was based on the company's strong developmental and operational progress. A construction team in a mining datacenter building work site with plans and equipment in hand. The analyst reasoned that Bitdeer Technologies Group's (NASDAQ:BTDR) self-mining operations are undergoing considerable growth, with an expanded hash rate and a significant increase in Bitcoin production. He attributed this growth to the deployment of the company's advanced SEALMINER equipment and strategic expansion of its energy capacity. In addition, new facilities in Bhutan and Norway are expected to be energized soon, further boosting operational capabilities. Cassidy also reasoned that Bitdeer Technologies Group (NASDAQ:BTDR) is making notable advancements in mining rig development, especially with the SEALMINER A3 and A4 models. This initiative reflects the potential of attaining high energy efficiency, which is critical for the company to maintain its competitive standing. Bitdeer Technologies Group (NASDAQ:BTDR) is a technology company specializing in blockchain and computing, offering hash rate sharing solutions, including Cloud hash rate and one-stop mining machine hosting solutions for efficient cryptocurrency mining. It has taken the lead as the largest vertically integrated Bitcoin miner. While we acknowledge the potential of BTDR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
- Yahoo
Needham Lifts Price Target on Core Scientific (CORZ) to $18 From $16
Core Scientific, Inc. (NASDAQ:CORZ) is one of the 13 Crypto Stocks with the Highest Upside Potential. On June 10, Needham analyst John Todaro raised the firm's price target on Core Scientific, Inc. (NASDAQ:CORZ) to $18 from $16, keeping a Buy rating on the shares. The analyst reasoned that the market holds a 'growing comfort' with the company as a counterparty. He further told investors in a research note that there is a strong demand backdrop that should considerably outstrip supply over the coming five years, becoming positive for its bitcoin mining/HPC universe. A close up of a computer screen showing a customer's cryptocurrency account and transaction information. The analyst reasoned that Core Scientific, Inc. (NASDAQ:CORZ) is accumulating market confidence in its operations and has an attractive valuation. These factors position it favorably in the market, especially compared to its peers. Despite these positive factors, it is trading at a discount, which justifies the price target update. Core Scientific, Inc. (NASDAQ:CORZ) operates digital infrastructure for Bitcoin mining and high-performance computing. It operates specialized, purpose-built facilities for digital asset mining. The company leverages its own fleet of computers, called miners, to earn Bitcoin for its own account, and also provides hosting services for Bitcoin mining and high-performance computing customers at eight US-based operational data centers. While we acknowledge the potential of CORZ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
