3M and Halliburton transfer on earnings, AMD falls after downgrade
Yahoo Finance’s Ines Ferré breaks down shares on the transfer in early afternoon buying and selling.
Video Transcript
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RACHELLE AKUFFO: All proper, now let’s get to Yahoo Finance’s Ines Ferré with a few of in the present day’s largest market movers. Hey, Ines.
INES FERRÉ: Hey Rachelle. And let’s begin with the Dow as a result of we have now been watching on the Dow. 3M down greater than 5%. And that is after 3M reported its quarterly outcomes with 3M. Disappointing in terms of its revenue outlook for 2023. It had an earnings miss. The corporate additionally asserting that it is going to be slicing about 2,500 manufacturing jobs.
Why is that this firm essential? Properly, this firm makes all the pieces from constructing supplies to supplies for the medical business, even cleansing provides. Proper now, you are watching the inventory that is decrease after its quarterly outcomes. I am gonna pull up a year-to-date chart so you’ll be able to see. It is down about 3% year-to-date.
Over on the NASDAQ 100, I am conserving a watch out on one inventory specifically right here and that is AMD. Down greater than 2 and 1/2%– or down about 2 and 1/2%. That is after Bernstein minimize AMD to market carry out, minimize its worth goal to $80 per share.
AMD will likely be asserting its quarterly outcomes on January 31, subsequent week. And the chip house has actually been going by an attention-grabbing time, so to talk. You have got had chip corporations speaking about falling costs in terms of the chips.
After which looking on the sectors. I’m maintaining a tally of what’s taking place with the power sector as a result of we’re seeing this lagging in the present day. And notably, one inventory specifically that I’m additionally maintaining a tally of is Halliburton.
That is after it reported its outcomes with Halliburton reporting a fourth-quarter revenue beat, additionally elevating its dividend by 33%. Once more, in the present day we’re seeing power shares pull again a bit. They did very effectively final 12 months. Yr-to-date, XLE, by the way in which, is up about 2 and 1/2%, Rachelle.