One stock that caught the attention of CNBC TV’s producers during Thursday’s trading was Marvell Technology. The stock saw an 8% increase after hours due to better-than-expected revenue in the latest quarter. However, it is important to note that Marvell is down 18% from its March high, despite a recent 8% increase. In addition, the VanEck Semiconductor ETF (SMH) is currently 16% lower than its July 11 high, even though the fund is up 36% year to date. Companies like Marvell hold a significant portion of the ETF, making up 1.78% of the entire fund.
On Friday, CNBC TV’s Pippa Stevens will be reporting on a lesser-known part of the tech industry: the companies that provide cooling technology for chipmakers like Nvidia. Names in this space include Vertiv, Schneider Electric, and nVent Electric. Despite being 27% lower than its May high, Vertiv has seen a 66% increase in 2024. Similarly, Schneider Electric is 2% down from its May high but has experienced a 26% increase in 2024. nVent Electric is also 23% lower than its May high, although the stock is up by 13% this year.
CNBC TV’s China correspondent, Eunice Yoon, will be reporting on tensions in China’s “iPhone City” over fears that more business will leave the nation and move to other parts of the world, such as India. This can have significant implications for companies like Apple, which is currently 3% lower than its July 15 high. However, the stock has seen a 20% increase over the past three months.
Technology Innovations:
In the last 24 hours, big tech names like Apple and Nvidia have expressed interest in joining OpenAI. Microsoft, which is already part of the initiative, is currently 12% lower than its July 5 high. Despite a 3.2% decrease in the last month, Microsoft’s stock is up by about 10% in 2024.
Real Estate Dynamics:
Social media platform X has made its way to the city by the bay, prompting other big names to rethink their office spaces as artificial intelligence companies move in. CNBC TV’s Kate Rooney will be covering this story. Office real estate investment trusts like BXP and CBRE have directly felt the impact of these changes. BXP hit a new high on Monday and is currently up by 30% in the last three months. CBRE also hit a new high on Monday, experiencing a 33% increase in the last three months.
The French software maker is set to release the “Star Wars Outlaws” video game on Friday, which has the potential to impact the stock. The company is currently 43% lower than its November high and down by 26% so far this year. Electronic Arts, another player in the gaming industry, is 2% lower than its July 31 high but has seen a 14% increase in the last three months, and it’s up by about 10% in 2024.
Dow Jones Performance:
The 30-stock Dow reached another record high on Thursday, with a 2% increase in the past month. Interestingly, the top seven Dow performers are not tech companies. Companies like Nike, McDonald’s, Walmart, Coca-Cola, 3M, Travelers, and JPMorgan have all shown positive growth in the past month, with Nike leading the pack with a 13% increase.
The stock market is a dynamic and ever-changing landscape, with various sectors and companies experiencing both highs and lows. Investors must stay vigilant and informed to make wise decisions in this volatile market environment.