During trading Wednesday, 2 stocks traded to a 52-week high, while 601 stocks bottomed out at new 52-week lows. The S&P 500 is up 0.93% so far today while the Dow is up 1.01%, the Nasdaq is up 0.79%, and the Russell 2000 is up 0.59%.
Stocks are rallying Wednesday afternoon. Cryptos are up, with Bitcoin up 2.11% and Ethereum up 0.52%.
Big tech earnings were mixed today. Alphabet Inc Class C (GOOG) is down 3.31% after missing earnings estimates. This was chiefly influenced by two factors. First, YouTube had a poor quarter as it struggles to compete with TikTok as YouTube advertising revenue faded to 14% from 25% last quarter. Second, ad revenue slowed in Europe as the war in Ukraine escalated. While those negatives showed through, Google Cloud revenue surged 45% as cybersecurity and Google Workspace continue to thrive.
Meanwhile, Microsoft Corporation (MSFT) is surging 6.44% after the company beat earnings and revenue estimates. Cloud services, via Azure, bolstered the report as cloud-services demand remained strong. Further, despite a disappointing showing by the company's recent acquisition Activision earlier this week, Microsoft's gaming sector showed strong global growth.
Lastly, Chipotle Mexican Grill, Inc. (CMG) is rallying 3.39% after beating earnings. Chipotle recently had to raise prices in its restaurants, but consumer demand remained strong as in-restaurant sales surged 31% year-over-year and digital sales remained steady at 42% growth year over year. Outlook for the company was appetizing as well, as it expects to open between 235-250 stores despite material shortages, introduce new items to its menu, and return to a 25% operating margin.
Sector Highlights
The Healthcare sector makes up the majority of our 52-week lows, as 186 out of our 601 lows comes from the Healthcare sector. The Healthcare sector is underperforming the market today, increasing 0.72% so far on the day. Over the last month, the Healthcare sector has outperformed the market, decreasing 3.25% while the S&P decreased 8.1%.
Healthcare: ADCT, ADPT, ADVM, AGEN, AGIO, AGLE, AHCO, AKBA, AKUS, ALEC, ALGS, ALLK, APYX, AQST, ARAY, ARVN, ASXC, ATAI, ATIP, ATNX, ATRA, AVRO, AVTX, AVXL, AWH, BAX, BBLN, BCAB, BDTX, BEAM, BFLY, BLUE, BNGO, BOLT, BTX, CBAY, CDAK, CDMO, CDXC, CDXS, CGEM, CGEN, CHRS, CKPT, CODX, COLL, CRBU, CRDF, CRIS, CTKB, CTMX, CTSO, CTXR, CUE, CVET, CYT, DAWN, DMTK, DNLI, DRIO, DTIL, EPIX, ETNB, FBIO, FDMT, FIXX, FMTX, FOLD, GRTS, GTHX, HARP, HCAT, HRTX, IBRX, IDXX, IDYA, IKNA, ILMN, IMRX, IMVT, INBX, INFI, INFU, INGN, INMD, IQV, ISRG, KRON, KYMR, LAB, LH, LXRX, MASI, MCRB, MDXG, ME, MEDP, MEIP, MGNX, MGTA, MGTX, MNMD, MRNS, MRSN, MRTX, MTEM, MYOV, NEO, NEOG, NLTX, NOTV, NRIX, NSTG, NTLA, NVAX, NVTA, OLMA, OMCL, OMGA, OPK, OPRX, ORIC, ORMP, PACB, PASG, PEN, PGEN, PLSE, PRAX, PRLD, PSNL, QTNT, QTRX, RAPT, RCEL, RCKT, RDNT, RVP, SEEL, SEER, SELB, SESN, SGHT, SGMO, SLDB, SPRO, SRNE, SRRK, STOK, STRO, STXS, SWTX, SYNH, SYRS, TCRR, TNGX, TNXP, TRDA, TSHA, TWST, UPH, VAPO, VERV, VKTX, VNDA, VRAY, VREX, VXRT, ZOM, AKYA, ANIK, ANVS, EFTR, HROW, IMNM, ISO, JANX, LABP, SNSE, SPNE, SQZ, TKNO, UTRS, VINC, VRCA, XLO
The Lists
The following stocks traded to 52-week highs:
The following stocks traded to 52-week lows:
AAON, ACCO, ADCT, ADN, ADPT, ADSK, ADV, ADVM, AEO, AFCG, AGEN, AGIO, AGLE, AGNC, AHCO, AJX, AKA, AKBA, AKTS, AKUS, ALEC, ALGS, ALLK, ALLT, ALLY, ALTR, AMAT, AMBA, AMBP, AMCX, AMPS, AMRS, APG, APO, APP, APYX, AQST, ARAY, ARR, ARVL, ARVN, ASTE, ASXC, ATAI, ATIP, ATNX, ATOM, ATRA, ATUS
