Biggest S&P 500 Movers on Tuesday

Advancers

• Enphase Energy (ENPH) shares soared 6.3%, notching the top performance in the S&P 500, after the solar technology firm launched a new home battery product in Belgium. Enphase also introduced a new energy management software that uses 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) to optimize energy usage, including the capacity to integrate third-party electric vehicle (EV) chargers and heat pumps.
• Shares of business IT provider Hewlett Packard Enterprise (HPE) jumped 5.6% after Bank of America 澳洲幸运5官方开奖结果体彩网:upgraded the stock to "buy." Analysts cited numerous catalysts for the company, including increased demand for AI products. The team also believes Hewlett Packard Enterprise can cut costs under its new chief financial officer (CFO) while generating revenue and synergies through its intended acquisition of Juniper Networks (JNPR).

• Health regulators in Canada approved an updated COVID-19 vaccine from Moderna (MRNA) to be used in fall immunization campaigns in the country. Officials are continuing with their expedited review of competing vaccines from Pfizer (PFE) and Novavax (NVAX). Moderna shares advanced 4.1% on the day.
  

Decliners

• Accenture (ACN) shares 澳洲幸运5官方开奖结果体彩网:fell 4.8%, losing more than any other S&P 500 stock on Tuesday, following reports that the business strategy and consulting giant plans to delay staff promotions by six months. According to Bloomberg, Accenture told employees that the majority of promotions will now occur in June—a departure from the firm's typical cycle of awarding promotions in December. The move comes amid a challenging environment for the professional services business.
  
• Shares of Edwards Lifesciences (EW) slipped 3.1%, reversing gains posted in the previous session amid speculation that the medical device maker could be on the radar as a possible takeover target. Truist analysts slashed their price target on Edwards stock late last week, expressing concerns about the impact of the company's sale of its Critical Care division, which it completed at the beginning of September.
  
• Express Scripts, the pharmacy benefit management subsidiary of health insurance giant Cigna (CI), filed a lawsuit against the Federal Trade Commission claiming that a recent report released by the regulator is defamatory against the PBM industry. Cigna shares were down 2.9% amid the heightened tensions with the antitrust regulator.
  

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Moderna Rises on Canada Government Covid Vaccine Approval

Moderna (MRNA) shares surged Tuesday after Canadian regulators app꧑roved ✤the biotech firm’s updated COVID-19 vaccine.

The company reported Health Canada authorized the use of its Spikevax KP.2 shot for those aged six months and older. Last month, the U.S. 澳洲幸运5官方开奖结果体彩网:Food and Drug Administration also gave approval for the vaccine, as well as updated shots from Pfizer (PFE) and BioNTech (BNTX).

Moderna's Spikevax KP.2 targets the KP.2 variant of the virus, which is a descendant of the JN.1 variant that began appearing last winter. Moderna said now that it has received approval, the company will begin delivering the Spikevax KP.2 to the Public Health Agency of Canada.

Shares of Moderna gained about 4% on Tuesday and were among the big gainers in the S&P 500. Despite Tuesday's increase, the stock has lost more than one-quarter of its value since the start of the year.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

How a Rate Cut Could Affect Small-Cap Stocks

Small-cap stocꦕks have outperformed their large-cap peers in recent days as investors have prepared for the Federal Reserve to begin making long-awaited interest rate cuts.

The Russell 2000 index was up for the fifth consecutive session on Tuesday. The small-cap benchmark has risen more than 5% in those five days, putting it ahead of the large-cap S&P 500, which has advanced about 2.5%. The gap has been even more pronounced over the past three months, as shown in the chart below.

Small caps are expected to benefit most from lower interest rates due to their propensity to hold floating-rate debt and🦹 have weaker balance sheets.

However, sluggish earnings and substantial uncertainty about the health of the U.S. economy 🌌are two reasons some expect small-caps to underperform in the near term despite lower rates.

Read the 澳洲幸运5官方开奖结果体彩网:full article here.

-澳洲幸运5官方开奖结果体彩网:Colin Laidley

Hewlett Packard Enterprise Gets Bank of America Upgrade

Hewlett Packard Enterprise (HPE) shares surged Tuesday after Bank of America upgraded the stock, saying the tech firm has "many catalysts ahead," including benefits from need for more 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) products.

The bank raised its rating to "buy" from "neutral," and lifted the price target to $24 from $21. The stock was up 4.5% at $18.01 in recent trading.

Analysts wrote in a note to clients that because of its "decades of expertise in liquid cooling (CRAY systems) and increased adoption of supercomputing, HPE will be able to command a key position in AI adoption" for large organizations and governments.

Bank of America also believes that the company will make significant cost cuts under the leadership of new 澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) Marie Myers, and will see revenue and increased cost synergies with its planned purchase of Juniper Networks (JNPR). HPE an✱nounced the $14 billion acquisition of Juniper last January.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

GE Vernova Gaining for 7th Straight Session

GE Vernova (GEV) stock rose for the seventh consecutive session Tuesday as analysts at Barclays said the company is a "likely benefactor" of increasing demand for electric🐼ity in the U.S. and worldwide.

Barclays analysts initiated their coverage of the 澳洲幸运5官方开奖结果体彩网:former General Electric division with an "overweight" rating and price target of $250. Bank of America analysts upgraded🉐 GE Vernova to a "buy" rating, lifting their price target to $300 from a previous price of $200.

GE Vernova shares were up 2.7% at $236.10 in recent trading. The stock has gained about 19% in its seven-day winning streak.

Barclays and Bank of America join a string of 澳洲幸运5官方开奖结果体彩网:positive comments from analysts 澳洲幸运5官方开奖结果体彩网:since GE Vernova split from GE Aerospace (GE) in early April, completing the larger breakup of the General Electric conglomerate into three standalone companies, which also includes GE HealthCare (GEHC). They cite the 澳洲幸运5官方开奖结果体彩网:increasing demand for electricity in the U.S. and globally, putting GE Vernova in an advantageous position.

Read 澳洲幸运5官方开奖结果体彩网:more here.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Major Indexes Have Recovered All of Their Early-Month Losses

The Dow Jones Inꦚdustrial, S&P 500 and Nasdaq Composite have managed to claw back all the losses 🐓they posted during the early-September swoon that led the major indexes to their worst performance of the year in the first week of the month.

In late-morning trading Tuesday, each of the indexes was less than 1% above where they finished August. The S&P and Dow are riding four-month winning streaks, while the Nasdaq is looking to post monthly gaꦑins for the second straight month.

Watch These Intel Price Levels as Stock Surges

Intel (INTC) shares surged in premarket trading Tuesday after the embattled chipmaker’s CEO Pat Gelsinger provided an update on the 澳洲幸运5官方开奖结果体彩网:company’s plans to slash costs and 澳洲幸运5官方开奖结果体彩网:turn around its business.

Gelsinger said in a note to employees released after the closing bell that Intel has made progress in lowering costs through layoffs, trimming its real estate footprint, and selling part of its stake in its Altera programmable chip unit, among other steps.  The company also plans to turn its chipmaking arm into a separate subsidiary and said it would produce chips for Amazon (AMZN), as well as the U.S. military.

Although the shares hit a new multi-year low this month, they have made a partial recovery to currently trade near their September high, potentia꧃lly forming a hammer, a candlestick pattern that suggests a bullish reversal.

Investors should monitor important support levels on Intel's monthly chart at $20, $17, and $14, while watching key resistance areas at $25 and $35.

Intel shares were up 4.3% at $21.80 about half an hour before Tuesday's opening bell.

Read our full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Futures Point to Higher Open for Major Stock Indexes

Futures tied to the Dow Jo🐲nes industrial Average were up 0.3%.

S&P 500 futures added 0.4%.

Nasdaq 100 futures were up 0.6%.