AMD's Higher "AI Engagements"

Today is Wednesday, August 2, 2023.

The Early Bird Index today is 59.03.

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AMD's Higher "AI Engagements"

Advanced Micro Devices (Nasdaq: AMD) jumped 2.72% in after-hours trading on Tuesday thanks to positive financial results.

Financials: AMD reported earnings of 58 cents per share in the past quarter and revenue of $5.36 billion; both were better than expected.

Details: CEO Dr. Lisa Su said that AMD’s “AI engagements increased by more than seven times in the quarter.”

Final Thoughts: AMD is up 83% this year. While there are some concerns with the data center business, the company is gaining due to the AI wave and the 2023 comeback of semiconductors.

Notables

Notable Earnings Today: CVS Health (NYSE: CVS) PayPal (Nasdaq: PYPL), Humana (NYSE: HUM), Shopify (NYSE: SHOP), Generac (NYSE: GNRC), Qualcomm (Nasdaq: QCOM), Cameco (NYSE: CCJ), Occidental Petroleum (NYSE: OXY), Perion Network (Nasdaq: PERI), Unity Software (NYSE: U), Kraft Heinz (Nasdaq: KHC), Robinhood Markets (Nasdaq: HOOD), Builders FirstSource (NYSE: BLDR), MercadoLibre (Nasdaq: MELI), Carlyle Group (Nasdaq: CG), Energy Transfer (NYSE: ET), Scorpio (STNG), Etsy (Nasdaq: ETSY), Teva Pharmaceutical Industries (NYSE: TEVA), APA Corp. (Nasdaq: APA), Albemarle (NYSE: ALB), Allegiant Travel (Nasdaq: ALGT), AmerisourceBergen (NYSE: ABC), Atmos Energy (NYSE: ATO), Boot Barn Holdings (NYSE: BOOT), BorgWarner (NYSE: BWA), Bunge (NYSE: BG), C.H. Robinson (Nasdaq: CHRW), CDW (Nasdaq: CDW), CF Industries (NYSE: CF), Cheesecake Factory (Nasdaq: CAKE), Civitas Resources (NYSE: CIVI), Clean Harbors (NYSE: CLH), Clorox (NYSE: CLX), Cognizant Technology Solutions (Nasdaq: CTSH), DISH Network (Nasdaq: DISH), DoorDash (NYSE: DASH), DuPont (NYSE: DD), Emerson (NYSE: EMR), Entergy (NYSE: ETR), Exelon (Nasdaq: EXC), Fair Isaac (NYSE: FICO), Fastly (NYSE: FSLY), Ferrari (NYSE: RACE), Forward Air (Nasdaq: FWRD), Fresh Del Monte (NYSE: FDP), Garmin (NYSE: GRMN), Goodyear Tire (Nasdaq: GT), GXO Logistics (NYSE: GXO), Herbalife Nutrition (NYSE: HLF), Hillenbrand (NYSE: HI), Host Hotels (Nasdaq: HST), HubSpot (NYSE: HUBS), Ingersoll-Rand (NYSE: IR), Johnson Controls (NYSE: JCI), Lemonade (NYSE: LMND), Louisiana-Pacific (NYSE: LPX), Marathon Oil (NYSE: MRO), Marriott Vacations (NYSE: VAC), McKesson (NYSE: MCK), MetLife (NYSE: MET), MGIC Investment (NYSE: MTG), MGM Resorts (NYSE: MGM), NerdWallet (Nasdaq: NRDS), NiSource (NYSE: NI), NNN REIT (NYSE: NNN), Noble Corporation (NYSE: NE), Northern Oil & Gas (NSYSE: NOG), Nutrien (NYSE: NTR), Pacific Biosciences (Nasdaq: PACB), Park Hotels & Resorts (NYSE: PK), Phillips 66 (NYSE: PSX), Public Storage (NYSE: PSA), Qorvo (Nasdaq: QRVO), Radian Group (NYSE: RDN), Rayonier (NYSE: RYN), Realty Income (NYSE: O), Royal Gold (Nasdaq: RGLD),Scotts Miracle-Gro (NYSE: SMG), Simon Properties (NYSE: SPG), Spirit Aerosystems (NYSE: SPR), Steven Madden (Nasdaq: SHOO), Sunoco (NYSE: SUN), TripAdvisor (Nasdaq: TRIP), United Therapeutics (Nasdaq: UTHR), Upwork (Nasdaq: UPWK), Williams (NYSE: WMB), Wingstop (Nasdaq: WING), World Wrestling Entertainment (NYSE: WWE), Xylem (NYSE: XYL), Yum! Brands (NYSE: YUM), Zillow (Nasdaq: ZG).

Notable IPOs Today: Allurion Technologies, Inc. (NYSE: ALUR), ESGL Holdings Limited Class A Ordinary Shares (Nasdaq: ESGL), Quantum FinTech Acquisition Corporation (NYSE American: QFTA).

Notable Equity Crowdfunding Campaigns Ending Today: Cool Cat (StartEngine), Zooni (StartEngine).

Notable Economic Events Today: ADP Nonfarm Employment Change (8:15 a.m. ET), Crude Oil Inventories (10:30 a.m. ET).

Starbucks Sinks in North America

Photo by engin akyurt / Unsplash

Starbucks (Nasdaq: SBUX) dipped 1.26% in after-hours trading on Tuesday after posting mixed financial results and reporting that sales growth in North America was softer than expected.

Final Thoughts: There was some good news as sales in China grew 46%.

Pinterest’s Inflated Expenses

Despite posting better-than-expected financial results on Tuesday, Pinterest (NYSE: PINS) declined by 2.8% in after-hours trading.

Final Thoughts: The problem with Pinterest is that its expenses jumped 11%. The stock is up 26% this year.

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