Juniper Networks Stock (NYSE:JNPR), Trade Ideas

Juniper Networks

Juniper Networks Inc is engaged in designing, developing, and selling products and services for high-performance networks to enable customers to build scalable, reliable, secure, and cost-effective networks for their businesses while achieving agility and improved operating efficiency through automation. The company's high-performance network and service offerings include routing, switching, Wi-Fi, network security, artificial intelligence (AI) or AI-enabled enterprise networking operations (AIOps), and software-defined networking (SDN) technologies. In addition to the company's products, the company offers its customers a variety of services, including maintenance and support, professional services, Software-as-a-Service ("SaaS"), and education and training programs.

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With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.

Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

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Wall Street suffers a double blow in Thursday’s session, as softer-than-expected revenue forecasts from Meta Platforms Inc. (NASDAQ:META) are being compounded by weaker-than-expected economic growth and higher inflationary pressures last quarter, raising fears of a stagflation phase 

Stocks Drop, Tech Tumbles With Meta&#39;s Weak Outlook, Q1 Stagflation Fears; Gold Miners Advance: What&#39;s Driving Markets Thursday?

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Juniper Networks Inc

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

Barclays analyst Tim Long maintains Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) with a Equal-Weight and raises the price target from $40 to $41.

Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on Juniper Networks, Raises Price Target to $41

Needham analyst Alex Henderson reiterates Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) with a Hold.

Reiteration

Needham Reiterates Hold on Juniper Networks

Guidance

Juniper Networks Says In Light Of The Proposed Transaction With HPE, And As Is Customary During The Pendency Of An Acquisition, Juniper Networks Will Not Be Providing Financial Guidance For 2024

Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) reported quarterly earnings of $0.29 per share which missed the analyst consensus estimate of $0.40 by 27.5 percent. This is a 39.58 percent decrease over earnings of $0.48 per share from the same period last year. The company reported quarterly sales of $1.15 billion which missed the analyst consensus estimate of $1.24 billion by 7.35 percent. This is a 16.25 percent decrease over sales of $1.37 billion the same period last year.

Earnings Misses

Juniper Networks Q1 EPS $0.29 Misses $0.40 Estimate, Sales $1.15B Miss $1.24B Estimate

Wall Street suffers a double blow in Thursday&#8217;s session, as softer-than-expected revenue forecasts from Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are being compounded by weaker-than-expected economic growth and higher inflationary pressures last quarter, raising fears of a stagflation phase <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">for the U.S. economy.</a>
The U.S. economy grew by a 1.6% annualized pace in Q1 2024, slowing down sharply from the 3.4% pace in the previous quarter and missing expectations of a growth rate of 2.5%. Inflation, as measured by the Personal Consumption Expenditure (PCE) price index, substantially accelerated from a 1.8% to 3.4% annualized pace, with the underlying measure of core PCE escalating to 3.7%. 
The elite group of Magnificent Seven stocks <a href="https://www.benzinga.com/markets/equities/24/04/38436183/magnificent-7-tumble-wipe-out-300-billion-on-metas-weak-guidance-q1-stagflation-woes">wiped out nearly $300 billion in market value</a> earlier this morning, prior to marginally curbing losses by 1 p.m. in New York. 
The S&amp;P 500 and the tech-heavy Nasdaq 100 dropped by 1% and 1.2% respectively, while blue chips in the Dow Jones Industrial Average slightly underperformed, declining by 1.4%. 
Meta Platforms experienced a double-digit decline, pulling down both the tech index and the communication services sector, which saw its worst day since late October 2023.
Only a few industries managed to notch gains, with gold miners in the spotlight following stronger-than-expected quarterly results by Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>). The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rose 2.7%. 
Gold also saw an increase, rising by 0.7%, outperforming both stocks and bonds amid growing signals of stagflation from the economy. Crude oil inched lower, with the West Texas Intermediate (WTI) light crude down 0.4% to $82 a barrel. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady around $64,500. 
In the bond market, Treasury yields surged, with the policy-sensitive 2-year yields rising to 5% as traders further dialed back expectations of Fed rate cuts. 
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,026.87</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,975.61</td>
<td>-1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,333.65</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,923.49</td>
<td>-1.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. EDT </figcaption></figure>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Meta Platforms tanked 11% – its worst performance since October 2022 – despite beating both earnings and revenue forecasts last quarter, as weaker-than-expected guidance disappointed traders.</li>
<li>Other companies reacting to earnings were International Business Machines Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NASDAQ">IBM</a>) down 9%, Service Now Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) down 5%, Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) up 2.9%, Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) up 5.4%, Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) down 1.6%, United Rentals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) up 5.5%, with all of them reporting Wednesday after the close. </li>
<li>Reporting Thursday in the pre-market, Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) up 2.5%, Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) down 6.6%, Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) down 6%, Union Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) up 4.3%, S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) flat, Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), down 1.4%, Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) up 1.7%, Altria Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) up 1%, Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) down 0.5%, Carrier Global Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) up 8% and Astrazeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) up 5.7%. </li>
<li>Notable names reporting after the close include Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) , Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>).</li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38438240/feds-inflation-report-looms-this-friday-what-makes-it-so-crucial-for-markets">Fed&#8217;s Inflation Report Looms This Friday: What Makes It So Crucial For Markets?</a>
Photo: Shutterstock

Stocks Drop, Tech Tumbles With Meta's Weak Outlook, Q1 Stagflation Fears; Gold Miners Advance: What's Driving Markets Thursday?

The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Kopin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOPN#NASDAQ">KOPN</a>)</h3>
<ul>
<li>On March 14, Kopin posted downbeat quarterly results. &#8220;2023 was a transitional year for Kopin, successfully evolving from a leading provider of microdisplay solutions to becoming an application-specific optical solutions provider,&#8221; said Michael Murray, Kopin&#8217;s Chief Executive Officer. The company's stock fell around 34% over the past five days and has a <a href="https://www.benzinga.com/quote/KOPN">52-week low of $0.8550</a>.</li>
<li>RSI Value: 18.19</li>
<li>KOPN Price Action: Shares of Kopin fell 10.9% to close at $0.8580 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">BigCommerce Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIGC#NASDAQ">BIGC</a>)</h3>
<ul>
<li>On April 17, Morgan Stanley analyst Keith Weiss maintained BigCommerce Holdings with an Equal-Weight and lowered the price target from $10 to $8. The company's stock fell around 16% over the past month. It <a href="https://www.benzinga.com/quote/BIGC">has a 52-week low</a> of $5.72.</li>
<li>RSI Value: 26.54</li>
<li>BIGC Price Action: Shares of BigCommerce rose 0.5% to close at $5.83 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>)</h3>
<ul>
<li>Juniper Networks is expected to release preliminary financial results for the quarter ending March 31, 2024 on Thursday, April 25 after the closing bell, The company's stock fell around 3% over the past five days and has a 52-week <a href="https://www.benzinga.com/quote/JNPR">low of $24.87</a>.</li>
<li>RSI Value: 25.76</li>
<li>JNPR Price Action: Shares of Juniper Networks fell 1.5% to close at $35.36 on Wednesday.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38402061/jim-cramer-says-this-energy-stock-is-terrific-calls-caseys-general-stores-a-winner">Jim Cramer Says This Energy Stock Is &#8216;Terrific,&#8217; Calls Casey&#8217;s General Stores A &#8216;Winner&#8217;</a>

The back-and-forth motion in the market continues, with the index futures pointing to a lower opening on Thursday. Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">lukewarm second-quarter revenue guidance </a>and commentary regarding investment punctured the stock, while International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) also fell on earnings. The tech space could come under pressure as traders digest these disappointments.
More tech earnings are on tap on Thursday, led by AI stalwart Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)
Also weighing down on sentiment would be apprehensions regarding two key data due for the week. The first read of the first-quarter GDP data (Thursday) and the personal income and spending report (Friday), will be in the spotlight as the market strives to make sense of growth and inflation trajectories ahead of next week&#8217;s Federal Reserve&#8217;s monetary policy meeting.
 Futures Performance On Thursday ( as of 5:50 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.81%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.48%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.31%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.47%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.43% to $503.24,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.78% to $423.20, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Past Session:
Early optimism triggered by positive reactions to earnings from Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Texas Instruments, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) tempered over the course of Wednesday&#8217;s session. Mixed earnings reports and economic worries kept sentiment subdued for much of the session, and this led to a mixed close for the day.
The tech-heavy Nasdaq Composite and the S&amp;P 500 Index ended the session marginally higher, pulling notably off the day&#8217;s high reached in early trading. The former moved in a roughly 205-point range and the latter gyrated between 5,047.02 and 5,089.48, a roughly 43-point intra-day move. Nevertheless, the indices have been higher for a third straight session now.
Weighed down by a 2.87% pullback in Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares following its earnings release, the Dow Jones Industrial Average ended modestly lower. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.10%</td>
<td>15,712.75</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.02%</td>
<td>5,071.63</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.11%</td>
<td>38,460.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.36%</td>
<td>1,995.43</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The growth conundrum of whether the economy is going to see a hard or soft landing, has kept investors skewed toward quality stocks, <a href="https://www.morganstanley.com/ideas/thoughts-on-the-market-wilson?subscribed=true&amp;dis=em_2024424_wm_5ideasarticle&amp;et_mid=585156&amp;et_mkid=&amp;sfmc_id=201810710">said </a>Morgan Stanley&#8217;s Chief Equity Strategist Mike Wilson in a podcast. &#8220;The largest risk for stocks more broadly is higher 10-year Treasury yields as investors begin to demand a larger term premium due to higher inflation and the growing supply of bonds to pay for the endless deficits,&#8221; he said.
&#8220;Our primary concern for equities at this point is that aggressive fiscal spending has led to better economic growth but it keeps upward pressure on inflation and prevents the Fed from cutting interest rates that many economic participants desperately need at this point.&#8221;
The analyst recommended investors look into under-appreciated sectors. &#8220;This is all in-line with our 2024 outlook that suggests the major equity indices are overvalued while the best opportunities are likely beneath the surface in underappreciated sectors like energy that are positively levered to stickier inflation and higher interest rates.&#8221;
Fund Strat&#8217;s Tom Lee, however, is optimistic. In his weekly commentary, the analyst noted that the S&amp;P 500 and equities rebounded over the past two days, rising more than 2%. &#8220;The S&amp;P 500 closed solidly above the critical 5,019.20 to 5,070.55. In our view, this is confirmation that the worst of this two-week decline is behind us,&#8221; he said.
Upcoming Economic Data:
The Bureau of Economic Analysis is due to release its<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38405106/us-economy-expected-to-grow-2-5-in-q1-not-a-hard-landing-and-hardly-a-soft-one"> first-quarter GDP data (advance estimate) </a>at 8:30 a.m. EDT. Economists, on average, expect the economy to have expanded 2.2%, slower than the 3.4% pace in the fourth quarter. Traders may also keep an eye on the GDP price deflator and the price consumption expenditure index to gauge inflation trends.
The Labor Department will release the customary jobless claims data at 8:30 a.m. EDT. The number of individuals claiming unemployment benefits is expected at 215,000 for the week ended April 20, up slightly from 212,000 in the previous week.
The National Association of Realtors is scheduled to release its pending home sales index for March at 10 a.m. EDT, with consensus calling for an unchanged reading following the 1.6% increase in February.
The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and seven-year notes at 1 p.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures </a>
Stocks In Focus: 
<ul>
<li>Meta and IBM fell 12.5% and 8.5%, respectively, <a href="https://www.benzinga.com/premarket">in premarket trading </a>following quarterly earnings announcement.</li>
<li>Other stocks moving on earnings are ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) (down about 4.5%), Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) (up over 8%), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) (down 4%), Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) (up over 12.5%), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) (up about 2.5%) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) (up about 2.5%).</li>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), AstraZeneca Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>), Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting their earnings ahead of the market open.</a></li>
<li>Notable names reporting after the close include Alphabet, Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft, Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures continued to trade under the $83-a-barrel mark and gold futures were seen consolidating just above the $2,330 level.
The 10-year note yield, held firm around the 4.64% ahead of Friday&#8217;s inflation data.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) weakened by about 3.50% and traded shy of the psychological barrier of $64,000.
Most major Asian markets, with the exception of the Chinese, Hong Kong and Indian markets, pulled back, as traders positioned themselves for Friday&#8217;s U.S. inflation data. The Australian and New Zealand markets remained closed for a public holiday.
The European markets fell in early trading, adding to the losses they made on Wednesday. The Euro STOXX 50 Index was down 0.44% at the last check.
Read Next: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38410454/treasury-yields-reach-5-month-high-lift-mortgage-rates-expert-warns-federal-debt-">Treasury Yields Reach 5-Month High, Lift Mortgage Rates; Expert Warns &#8216;Federal Debt Blob Is Out Of Control&#8217;</a>
Image via Shutterstock

Futures

Economics

Federal Reserve

GOOG

MBLY

NDAQ

ORLY

TSLA

US Stocks Brace For Negative Start Amid Tech Earnings Disappointments, Caution Ahead Of Data: 'Worst Of This Two-Week Decline Is Behind Us,' Says Analyst

As the <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">market runs into rough weather,</a> the importance of the upcoming week&#8217;s earnings cannot be emphasized enough. A lot is riding on the earnings reports of companies like Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (GOOG).
The Season So Far: The percentage of S&amp;P 500 companies that have reported positive earning surprises and the magnitude of earnings surprises are at or above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-19-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-19-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril192024">said</a> FactSet in its report released Friday. That said, substantial downward revisions to earnings per share (EPS) estimates of two healthcare companies have led to a decline in earnings growth over the past two weeks.
The combined earnings per share growth rate of S&amp;P 500 companies, considering both the already reported actual results and the estimates for those yet to report, is at 0.5%, according to FactSet. The metric, however, fell from the 0.9% estimated previous week and the 3.4% estimated at the end of the first quarter. Earnings growth for the quarter may extend the positive growth streak to three quarters.
So far, 14% of the S&amp;P 500 companies have reported March quarter results. 
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks To Buy Right Now</a>
Look Ahead: The upcoming week will likely feature earnings releases from 158 S&amp;P 500 companies, including 11 Dow 30 components. With the bank earnings tapering off, the spotlight shifts to tech companies, as they begin to roll out their quarterly scorecard this week.
Apart from some big techs, which are part of the group called the &#8220;Magnificent Seven,&#8221; homebuilders, defense contractors, airlines and transportation companies are also due to release their quarterly reports. 
All eyes are focused on Tesla as analysts expect a downbeat report from the company. Analysts see the scope of a further contraction in margin and potentially a double miss yet again in the first quarter.
AI stalwarts Microsoft, Alphabet and Meta are widely expected to report strong results. Following the recent tech-led sell-off, Wedbush analyst Daniel Ives said, &#8220;We believe 1Q earnings will be a major positive catalyst for the tech sector and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38252477/why-microsoft-alphabet-amazon-palantir-and-meta-could-rise-15-in-2024-according-to-">expect tech stocks to be up another 15% for the year</a> adding to the strong start to 2024.&#8221;
The earnings schedule of key names are as follows:
Monday 
<ul>
<li>Before the bell: Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), Zions Bancorporation, National Association (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>)</li>
<li>After the close: Ameriprise Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) and SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), PepsiCo. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) and Xerox Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NYSE">XRX</a>), Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</li>
<li>After the close: Visa, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Tesla, Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>)</li>
</ul>
Wednesday 
<ul>
<li>Before the bell: Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>), Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>), Hasbro, Inc. (NASDA: HAS), General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), Biogen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) and AT&amp;T Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</li>
<li>After the close: Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>), Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>), Meta Platforms, Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), AstraZeneca Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>), Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>)</li>
<li>After the close: Alphabet, Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft, Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>), Autoliv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>), AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>), Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session down 0.87% at $495.16, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech companies, has lost 7.72% from its all-time intraday high of $449.34 (March 21).
Read Next: <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">Nvidia In Correction Territory — Did AI-Led Tech Stock Bubble Just Burst? This Data Point Offers A Clue.</a>
Photo: Shutterstock

Analyst Color

ODFL

SPOT

STLD

ZION

Can Magnificent 7 Help Script Market Turnaround? Earnings Pick Up Pace With Microsoft, Meta, Alphabet And Tesla Expected This Week

Marvell Technology, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) will present its strategic approach to harness optical technology for AI and cloud data centers&#8217; growing demands at OFC 2024 in&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/n37938231/marvell-launches-products-technology-and-partnerships-at-ofc-2024-to-scale-optical-technology-for-" rel="noreferrer noopener">San Diego, California</a>.&nbsp;
Marvell Technology Group shares are trading higher after&nbsp;Citigroup&nbsp;analyst Atif Malik&nbsp;reiterated a Buy rating on the stock and maintained its&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/MRVL/analyst-ratings" rel="noreferrer noopener">$91 price target</a>.
The company&#8217;s executives, including CEO Matt Murphy and EVP Dr. Loi Nguyen, will address the surge in optical technology and outline Marvell&#8217;s innovations in optical PAM4 DSPs, coherent DSPs, and silicon photonics, aiming to accommodate various data center needs.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37918605/marvell-leads-with-first-800-gbps-optical-module-and-3d-silicon-photonics-at-tech-showcase" rel="noreferrer noopener">Marvell Leads with First 800 Gbps Optical Module and 3D Silicon Photonics at Tech Showcase</a>
At OFC, Marvell will showcase products like Nova 2, the market&#8217;s first 1.6T optical DSP with 200G per lane electrical and optical I/O, designed to enhance bandwidth density for data center components.&nbsp;
The Marvell 3D Silicon Photonics Engine represents another breakthrough, integrating hundreds of optical communication components into a single device, promising doubled bandwidth and I/O density, alongside a 30% reduction in power consumption per bit compared to existing solutions.
Introducing Spica Gen2-T, Marvell ventures into a new optical DSP category for transmitting retimed optical modules, catering to AI and cloud applications with significant power savings.&nbsp;
Additionally, Marvell will demonstrate the COLORZ 800&#8217;s capabilities, including the first demonstration of Probabilistic Constellation Shaping at 800 Gbps, aiming to extend the reach of coherent DSP modules for long-haul communications.
Collaborations with&nbsp;Juniper Networks Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) and&nbsp;Coherent Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) will also be highlighted, featuring a combined solution that integrates Marvell&#8217;s Orion 800 Gbps coherent DSP for extensive data center interconnects and telecommunication networks.
The&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37557768/broadcom-and-marvell-face-stock-dips-despite-high-hopes-in-ai-chip-sector" rel="noreferrer noopener">AI boom positions</a>&nbsp;Marvell as a key player, with its networking chips playing a vital role in AI data processing and collaborative efforts with clients on bespoke AI chip designs standing out as per analysts.&nbsp;
The stock gained over 72% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares U.S. Digital Infrastructure And Real Estate ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>) and&nbsp;Spear Alpha ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRX#NASDAQ">SPRX</a>).
Price Action:&nbsp;MRVL shares traded higher by 5.73% at $72.17 on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

COHR

iShares U.S. Digital Infrastructure and Real Estate ETF

IDGT

MRVL

SPRX

Marvell's Latest Innovations in Optical Technology Set to Transform AI and Cloud Computing at OFC 2024

The U.S. stock market continues its unchallenged bull run, with Wall Street notching yet another week of record-breaking highs for the S&amp;P 500 <a href="https://www.benzinga.com/news/earnings/24/03/37427925/s-p-500-nasdaq-100-hit-record-highs-as-dollar-treasury-yields-weaken-chipmakers-shine-nycb-sinks-wh">and Nasdaq 100 indices.</a>
This ongoing surge demonstrates the remarkable strength of the bullish sentiment, with stocks marking their 16th positive week out of the last 18. Since late October, this rally has propelled the S&amp;P 500 index by 25% and the Nasdaq 100 by 30%.
The momentum on Wall Street has also catapulted the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – the world&#8217;s largest exchange traded fund – to a historic milestone, surpassing $500 billion in assets under management for the first time ever.
Trailing behind the SPY are BlackRock&#8217;s iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) with $442 billion, and the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) with $413 billion under management. 
Other notable milestones were achieved among S&amp;P 500 components during Friday&#8217;s session. Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) reached a market capitalization exceeding $2 trillion, Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) surpassed $700 billion and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) overtook Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) to become the eighth-most valuable company.
<h2 class="wp-block-heading">Chart: SPY Is First ETF To Reach $500 Billion In AUM</h2>
<img decoding="async" src="https://www.benzinga.com/files/images/story/2024/1709327108_0.png" alt="" />
<h2 class="wp-block-heading">Top-Performing S&amp;P 500 Stocks Friday</h2>
The following are the five top-performing stocks within the S&amp;P 500 on Friday: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Stock Name</th>
<th>Sector</th>
<th>Price</th>
<th>1-Day Return %</th>
</tr>
</thead>
<tbody>
<tr>
<td>NetApp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>)</td>
<td>Information Technology</td>
<td>106.93</td>
<td>19.98%</td>
</tr>
<tr>
<td>The Cooper Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>)</td>
<td>Health Care</td>
<td>102.07</td>
<td>9.05</td>
</tr>
<tr>
<td>Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>Information Technology</td>
<td>63.99</td>
<td>7.61</td>
</tr>
<tr>
<td>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</td>
<td>Information Technology</td>
<td>1,392.56</td>
<td>7.08</td>
</tr>
<tr>
<td>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>)</td>
<td>Health Care</td>
<td>121.19</td>
<td>5.32</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">Top 10 Performing S&amp;P 500 Stocks Year-To-Date</h2>
The top-performing S&amp;P 500 stocks year-to-date are as follows:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>YTD Return</td>
<td>Market Cap</td>
</tr>
<tr>
<td>NVIDIA Corporation</td>
<td>65.43%</td>
<td>$2,016B</td>
</tr>
<tr>
<td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>44.19%</td>
<td>$53.37B</td>
</tr>
<tr>
<td>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>41.97%</td>
<td>$1,281.15B</td>
</tr>
<tr>
<td>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>36.55%</td>
<td>$325.24B</td>
</tr>
<tr>
<td>Eli Lilly and Company </td>
<td>33.72%</td>
<td>$701.64B</td>
</tr>
<tr>
<td>Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</td>
<td>31.30%</td>
<td>$167.86B</td>
</tr>
<tr>
<td>Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>)</td>
<td>29.60%</td>
<td>$174.53B</td>
</tr>
<tr>
<td>Ralph Lauren Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>)</td>
<td>28.68%</td>
<td>$11.86B</td>
</tr>
<tr>
<td>Tapestry, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>)</td>
<td>28.57%</td>
<td>$10.85B</td>
</tr>
<tr>
<td>Catalent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>)</td>
<td>28.18%</td>
<td>$10.34B</td>
</tr>
</tbody>
</table>
</figure>
Read now: <a href="https://www.benzinga.com/general/biotech/24/02/37408271/top-stocks-not-named-nvidia-you-need-to-know-about-in-2024-heres-what-investors-think-wall-street">Top Stocks Not Named Nvidia You Need To Know About In 2024: Here&#8217;s What Investors Think About Them (Wall Street Vs. Reddit)</a>
Photo via Shutterstock.

AMAT

AVGO

CTLT

DXCM

NTAP

NVDA

UBER

Record-High S&P 500 Propels SPY ETF To $500-Billion Milestone, Nvidia Tops $2 Trillion, Broadcom Surpasses Tesla

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has undoubtedly emerged as the standout performer among S&amp;P 500 stocks in the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37288423/nvidia-spikes-to-2-trillion-market-cap-as-fomo-drives-traders-into-stock-the-journe">initial two months of 2024</a>.
While the Santa Clara, California-based tech company enjoyed a 60% gain, there&#8217;s a pack of lesser-trumpeted names that have quietly delivered impressive returns in their own right. 
These stocks have significantly <a href="https://www.benzinga.com/money/what-makes-the-stock-market-go-up-and-down">outpaced the broader market</a>.
Within the S&amp;P 500 index, 10 stocks have achieved returns exceeding 25% so far this year. Noteworthy among them are three from the Magnificent Seven subset, showcasing the enduring strength of <a href="https://www.benzinga.com/topic/magnificent-seven">mega-cap tech players.</a>
In contrast, the median S&amp;P 500 stock, tracked by the S&amp;P 500 Equal Weight ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSP#NYSE">RSP</a>), has eked out a modest 3% return, while the market-cap weighted SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) has posted a more substantial 7% surge.
<h3 class="wp-block-heading">Top 10 Performing S&amp;P 500 Stocks (As Of Feb. 29, 2024)</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>YTD Return</td>
<td>Market Cap</td>
</tr>
<tr>
<td>NVIDIA Corporation </td>
<td>60.02%</td>
<td>$1,950.35B</td>
</tr>
<tr>
<td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>43.31%</td>
<td>$53.04B</td>
</tr>
<tr>
<td>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>38.14%</td>
<td>$1,246.58B</td>
</tr>
<tr>
<td>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>29.17%</td>
<td>$307.66B</td>
</tr>
<tr>
<td>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)</td>
<td>29.03%</td>
<td>$677.07B</td>
</tr>
<tr>
<td>Ralph Lauren Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>)</td>
<td>28.37%</td>
<td>$11.83B</td>
</tr>
<tr>
<td>Tapestry, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>)</td>
<td>28.27%</td>
<td>$10.83B</td>
</tr>
<tr>
<td>Catalent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>)</td>
<td>28.24%</td>
<td>$10.41B</td>
</tr>
<tr>
<td>Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</td>
<td>28.18%</td>
<td>$163.88B</td>
</tr>
<tr>
<td>Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>)</td>
<td>25.12%</td>
<td>$11.96B</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">What Wall Street Thinks&#8230;</h3>
Investors are likely considering whether the top-performing stocks still offer room for further growth, given their already impressive returns.
A reliable measure to gauge this potential is comparing the current stock price with the 1-year median price target projected by Wall Street analysts.
Among the top 10 S&amp;P 500 stocks year-to-date, Uber Technologies stands out with the largest potential upside to its median price target, showing a significant difference of 13.8%. Catalent follows closely behind, boasting a 10% potential upside, while Nvidia still maintains a respectable 7% upside compared to its median price target.
However, it&#8217;s worth noting that there are other stocks within the S&amp;P 500 index showing even more substantial potential upside.
Here&#8217;s a summary of the significant disparities between current market prices and Wall Street analysts&#8217; forecasts within a one-year horizon.
<h4 class="wp-block-heading">Top 10 S&amp;P 500 Stocks By Upside Potential Vs. Wall Street&#8217;s Price Target</h4>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>1-Year Price Target (Med) vs Current Price</td>
</tr>
<tr>
<td>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>)</td>
<td>54.73%</td>
</tr>
<tr>
<td>Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</td>
<td>46.80%</td>
</tr>
<tr>
<td>Caesars Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NYSE">CZR</a>)</td>
<td>45.11%</td>
</tr>
<tr>
<td>The AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>)</td>
<td>43.79%</td>
</tr>
<tr>
<td>Insulet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>)</td>
<td>43.12%</td>
</tr>
<tr>
<td>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</td>
<td>41.12%</td>
</tr>
<tr>
<td>Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>)</td>
<td>41.03%</td>
</tr>
<tr>
<td>Carnival Corporation &amp; pIc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>)</td>
<td>38.85%</td>
</tr>
<tr>
<td>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>)</td>
<td>36.04%</td>
</tr>
<tr>
<td>Baker Hughes Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NYSE">BKR</a>)</td>
<td>35.75%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">What Reddit Users Think&#8230;</h3>
A method for gauging social sentiment among U.S. stocks is provided by the VanEck Social Sentiment ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUZZ#NYSE">BUZZ</a>). 
This fund allocates investments to companies that exhibit favorable insights gathered from various online sources, such as social media platforms, news articles, blog posts, and other alternative datasets.
Below, a table highlights the top 10 holdings within the BUZZ ETF, along with their year-to-date performance:
<h3 class="wp-block-heading">Most-Loved Stocks By Social Users</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Weight In Buzz ETF</td>
<td>YTD Return</td>
</tr>
<tr>
<td>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</td>
<td>4.36%</td>
<td>16.00%</td>
</tr>
<tr>
<td>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)</td>
<td>3.42</td>
<td>61.51</td>
</tr>
<tr>
<td>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>3.37</td>
<td>203.07</td>
</tr>
<tr>
<td>NVIDIA Corporation</td>
<td>3.21</td>
<td>60.06</td>
</tr>
<tr>
<td>SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</td>
<td>3.16</td>
<td>-9.55</td>
</tr>
<tr>
<td>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>)</td>
<td>3.09</td>
<td>-1.68</td>
</tr>
<tr>
<td>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>3.07</td>
<td>-19.05</td>
</tr>
<tr>
<td>Advanced Micro Devices, Inc.</td>
<td>3.00</td>
<td>29.65</td>
</tr>
<tr>
<td>Meta Platforms, Inc.</td>
<td>2.96</td>
<td>38.49</td>
</tr>
<tr>
<td>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>2.93</td>
<td>15.23</td>
</tr>
</tbody>
</table>
</figure>
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37402333/exclusive-magnificent-7-takes-center-stage-in-roundhills-expanded-etf-lineup-with-i">EXCLUSIVE: Magnificent 7 Takes Center Stage In Roundhill&#8217;s Expanded ETF Lineup With Inverse And Leveraged Options</a>
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Top Stocks Not Named Nvidia You Need To Know About In 2024: Here's What Investors Think About Them (Wall Street Vs. Reddit)

Juniper Networks, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) inked a pact with&nbsp;Samsung Electronics Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNGY#OTC">SSNGY</a>) and Wind River on a virtual cell site router (vCSR) to allow service providers to&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37254351/samsung-juniper-networks-and-wind-river-collaborate-to-drive-greater-vran-and-open-ran-efficiencie" rel="noreferrer noopener">operate their networks with end-to-end virtualization.&nbsp;</a>
vCSR integrates the distributed unit and CSR functionalities into virtualized network elements hosted on a single server.
Under the deal, the firms fused the Juniper Cloud-Native Router, a completely containerized network component, with Samsung&#8217;s virtualized DU (vDU) on the Wind River Studio Cloud Platform.
The Juniper Cloud-Native Router takes full advantage of container economics and operational efficiencies, giving service providers the flexibility they need to deploy 5G.
&#8220;Juniper&#8217;s collaboration with Samsung and Wind River is creating a solution that helps them to amortize 5G investments, build a sustainable infrastructure and create more attractive service offerings,&#8221; said Raj Yavatkar, SVP and CTO, Juniper Networks.
As announced on January 9, 2024,&nbsp;Hewlett Packard Enterprise Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) plans to acquire Juniper Networks in an all-cash transaction for $40.00 per share, representing&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36571415/its-official-hewlett-packard-enterprise-buys-juniper-networks-in-a-massive-14b-deal" rel="noreferrer noopener">an equity value of approximately $14 billion.&nbsp;</a>
The transaction is currently expected to close in late calendar year 2024 or early calendar year 2025, subject to receipt of regulatory approvals.
For the fourth quarter, Juniper&#8217;s preliminary results depicts net revenues of $1.36 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/01/b36854688/juniper-networks-reports-preliminary-fourth-quarter-and-fiscal-year-2023-financial-results" rel="noreferrer noopener">a decrease of 6% year over year, and a decrease of 2% sequentially.</a>
Price Action:&nbsp;JNPR shares closed higher by 0.24% to $36.99 on Wednesday.&nbsp;

SSNGY

Juniper Networks, Samsung, And Wind River Collaborate On Virtual Cell Site Router For Enhanced Network Virtualization

Contracts

Juniper Networks Announced That It Is Providing KK Networks, One Of The Fastest Growing Internet Service Providers In Pakistan, With A Scalable And Resilient Cloud Metro NetworK

Juniper Networks Has Partnered With Samsung Electronics Co., Ltd., And Wind River On A Virtual Cell Site Router (Vcsr) To Allow Service Providers To Operate Their Networks With End-To-End Virtualization

Nvidia Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), top artificial intelligence (AI) plays and elite members of the Magnificent 7 club, are topping the <a href="https://www.benzinga.com/topic/s-p-500">S&amp;P 500 leaderboard so far this year</a>.
These two stocks were among the best performers of 2023 — indeed, Nvidia was the year&#8217;s winner by a country mile with a gain of 239% — and also led the powerful fourth-quarter surge that has resumed in the opening weeks of 2024.
Much of this momentum is based on the anticipation that AI will become a significant revenue stream, despite it not yet making a substantial impact on the earnings of either company.
Some fear that these AI expectations have become overplayed and the risk of disappointment could burst this AI &#8220;baby bubble&#8221;, as analysts at Bank of America call it.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/02/37035036/is-tesla-still-a-magnificent-7-stock-ev-maker-could-get-bumped-by-these-companies">Is Tesla Still A Magnificent 7 Stock? Berkshire Hathaway, Broadcom, Eli Lilly Line Up As Contenders</a>
<h2 class="wp-block-heading">AI Plays Outside Magnificent 7</h2>
If, however, investors believe that AI will come to dominate tech growth, there are a number of stocks sitting outside the Magnificent 7 that are also right up there on the S&amp;P 500 leaderboard — but at less lofty valuations.
Among the likely most important use cases for AI will be cybersecurity. As cyber criminals become more sophisticated, those safeguarding corporate networks and data are expected to deploy AI models to maintain a lead in security measures.
Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) says: &#8220;AI is a critical piece of our history of solutions that prevent successful cyber-attacks.&#8221;
&#8220;Cortex is Palo Alto Network's AI-based continuous-security platform, which continually evolves to help the security operations center stop the most sophisticated threats.&#8221;
Palo Alto shares are up 28% so far in 2024, having gained 111% in 2023.
The company&#8217;s last quarterly earnings report was impressive, reporting earning of $1.36 per share, comfortably beating consensus expectations of $1.16.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/12090807/newplot-78.png" alt="" class="wp-image-212376" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/12090807/newplot-78.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/12090807/newplot-78-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) plays out a similar theme. The company says: &#8220;Our experts develop and utilize leading-edge machine learning (ML) and AI technologies to provide timely and consistently top-rated protection and actionable threat intelligence.&#8221;
Its shares are up 20% so far in 2024, and gained 20% during 2023 — despite a sharp drop in August 2023.
Nevertheless, its fourth-quarter earnings report last Wednesday beat market expectations and analysts like the stock, with Goldman Sachs on Thursday raising its price target to $85. The shares currently stand at $70.44.
Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) calls itself a leader in AI and cloud networking. The company says of its product: &#8220;[Our] highly performant and adaptive network infrastructures are optimized for the connectivity, data volume, and speed requirements of mission-critical AI workloads.&#8221;
Year to date, Juniper&#8217;s shares are up 26%, following a 6% loss in 2023. However, the shares surged around 20% alone on Jan. 8 after it was reported that Hewlett Packard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) was in <a href="https://www.benzinga.com/markets/equities/24/01/36548871/juniper-networks-surges-over-20-as-hewlett-packard-enterprise-reportedly-nears-13b-acquisition-d">advanced talks</a> to take over the company.
Arista Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) has also developed AI networking systems, and says: &#8220;Arista's open, interoperable solutions and emphasis on operational efficiency,&nbsp;automation, and streamlined management workflows contribute to lower operational costs and overall total cost of ownership for AI networking deployments.&#8221;
So far in 2024 Arista&#8217;s shares have gained 20%, after rising 94% over 2023.
The company reports its fourth-quarter earnings on Thursday, and is expected to post earnings per share of $1.70, up from $1.41 in the same quarter a year ago.
Now Read: <a href="https://www.benzinga.com/markets/equities/24/02/37042265/ai-titans-meta-microsoft-nvidia-collaborate-with-white-house-on-safety-standards">AI Titans Meta, Microsoft, Nvidia Join Biden On Safety Initiative</a>
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These 4 AI-Related Stocks Outside Magnificent 7 Are Already Outperforming In 2024

Juniper Networks's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) short percent of float has fallen 26.28% since its last report. The company recently reported that it has 12.84 million shares sold short, which is 5.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Juniper Networks Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1706732121_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Juniper Networks has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Juniper Networks's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Juniper Networks's peer group average for short interest as a percentage of float is 7.54%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(JNPR) - Analyzing Juniper Networks's Short Interest

Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) reported its Q4 earnings results on Tuesday, January 30, 2024 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Juniper Networks missed estimated earnings by 4.69%, reporting an EPS of $0.61 versus an estimate of $0.64.
Revenue was down $84.00 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.05 which was followed by a 6.1% increase in the share price the next day.
Here's a look at Juniper Networks's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.55</td>
<td>0.55</td>
<td>0.43</td>
<td>0.65</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.60</td>
<td>0.58</td>
<td>0.48</td>
<td>0.65</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>1.39B</td>
<td>1.42B</td>
<td>1.34B</td>
<td>1.48B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>1.40B</td>
<td>1.43B</td>
<td>1.37B</td>
<td>1.45B</td>
</tr>
</tbody>
</table>

To track all earnings releases for Juniper Networks <a href="https://www.benzinga.com/quote/JNPR/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Juniper Networks: Q4 Earnings Insights

Juniper Networks Q4 2023 Adj EPS $0.61 Misses $0.64 Estimate, Sales $1.36B Miss $1.41B Estimate

The sentiment on Wall Street turned extremely cautious on Tuesday as investors awaited&nbsp;<a href="https://www.benzinga.com/news/earnings/24/01/36820476/tech-titans-microsoft-apple-lead-magnificent-seven-earnings-wave-this-week-can-mega-caps-ignite-mar" target="_blank" rel="noreferrer noopener">key earnings releases</a>&nbsp;from companies&nbsp;like Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>),&nbsp;Alphabet, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and&nbsp;Advanced Micro Devices, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>). 
The Federal Reserve Open Market Committee, the policy-setting arm of the Federal Reserve, began its two-day meeting on Tuesday, with a decision expected on Wednesday. While the futures market indicates an anticipated pause at the meeting, traders will closely analyze the post-meeting policy statement and Fed Chair Jerome Powell&#8217;s press briefing for potential trading cues.
Cues From Monday's Trading:
U.S. stocks opened Monday&#8217;s session higher but exhibited caution in early trading before rallying strongly, particularly in the final hour. This strength emerged despite a lack of significant Main Street catalysts, as traders factored in expectations of a robust tech reporting season. Several tech companies, including the &#8220;Magnificent Seven,&#8221; are scheduled to report this week.
The Dow Industrials, S&amp;P 500 Index, and Nasdaq 100 all closed at fresh records, while the Nasdaq Composite reached a new two-year high.
Small-cap stocks also joined the rally, with the Russell 2,000 Index surpassing the 2,000 level.
Most sectors, except for energy stocks, saw gains, with consumer discretionary, communication services, and IT stocks showing strong increases.
 US Index Performance On Monday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index </td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.12%</td>
<td>15,628.04</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.76%</td>
<td>4,927.93</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.59%</td>
<td>38,333.45</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.67%</td>
<td>2,011.42</td>
</tr>
</tbody>
</table>
</figure>
Analyst Color:
One of the most bullish analysts, who rightly called the S&amp;P 500&#8217;s new high this year, has turned cautious. Fund Strat&#8217;s Tom Lee said in an interview with CNBC flagged a likely pullback.
&#8220;This week is gonna tell us how much further we go,&#8221; Lee said, adding that he is penciling in a move potentially to 5,000. &#8220;And from there.. an air pocket forms,&#8221; he said. He premised the expectation on investors&#8217; worries over potential Fed moves. The market has been having a parabolic move since October and typically such moves end in retracements, he said.
&#8220;We continue to be strong, but then after that, I think there's a big air pocket,&#8221; Lee said. The analyst has a 5,200 target for the S&amp;P 500 this year.
 Futures Performance On Tuesday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures </td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.04%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.10%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.14%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.12%</td>
</tr>
</tbody>
</table>
</figure>
<a href="https://www.benzinga.com/premarket/">In premarket trading</a> on Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.08% to $490.86 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged down 0.02% to $428.06, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Upcoming Economic Data:
S&amp;P Case-Shiller 20-city composite house price index for November is due at 9 a.m. ET. The index is expected to show a seasonally unadjusted 5.8% in November, faster than the 4.9% increase in October.
The Federal House Finance Agency will also release its house price index around the same time. Its house price index for November is widely expected to show a 0.2% month-over-month increase in November compared to the previous month&#8217;s 0.3% growth.
The Labor Department is scheduled to release its &#8220;Job Openings and Labor Turnover Survey&#8221; for December at 10 a.m. ET. Job openings for the month is expected to be at 8.750 million compared to 8.790 million in November.
See also: <a href="https://www.benzinga.com/money/futures-vs-options">Futures Vs. Options</a>
Stocks In Focus:
<ul>
<li> F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) climbed over 10% in premarket trading following the release of its quarterly results.</li>
<li>Among the other stocks that are moving on earnings are Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>) (up nearly 16%), General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) (up about 6%), and Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) (down about 5%).</li>
<li>Major names on tap to report earnings ahead of the market opening include Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), and United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>).</li>
<li>AMD, Alphabet, Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), Microsoft, Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) and Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>) are among the key companies reporting after the market close.</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil futures fell 0.07% to $76,73 in early European session on Tuesday following Wednesday's 1.58% pullback.
The benchmark 10-year Treasury note fell 0.029 percentage points to 4.062% on Tuesday.
Asian stocks closed mixed yet again on Tuesday, with the Hong Kong, Chinese, and Indian markets slumping, while the sentiment was lackluster elsewhere. Traders waited to see off the Fed decision due on Wednesday and also remained apprehensive about the U.S. tech earnings. 
The major European markets traded higher by late-morning trading as traders digested mixed GDP data for the region. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36831114/fed-meeting-preview-is-a-march-rate-cut-likely">Fed Meeting Preview: Is A March Rate Cut Likely?</a>
Image Via Shutterstock

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US Stocks Hold Steady Ahead Of Microsoft, Alphabet Earnings: Analyst Warns Of 'Big Air Pocket' In Pivotal Trading Week

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	The post <a href="https://investorplace.com/earning-results/2024/04/jnpr-stock-earnings-juniper-networks-for-q1-of-2024/">JNPR Stock Earnings: Juniper Networks Misses EPS, Misses Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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