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[ad_1] A trader works on the floor of the New York Stock Exchange on Oct. 20, 2023. Michael Nagle | Bloomberg | Getty Images Stocks traded higher Tuesday, as Wall Street tried to close out a dismal month of trading — that saw Treasury yields surge to levels not seen in more than 16 years — on a high note. The broader index rose 0.4%. The Dow Jones Industrial Average added 59 points, or 0.2%, while the Nasdaq Composite gained 0.3%. The S&P 500 advance was held in check mainly by communication services stocks, which was one of just two sectors trading in negative territory in afternoon trading. Notably, Alphabet, Meta Platforms and Netflix shares were all lower. Nvidia was down by more than 1%. The Cboe Volatility Index (VIX) dropped to an 18 handle, below the long-term average of roughly 20. A higher VIX level can point to greater uncertainty in markets. Earnings season continued Tuesday. Caterpillar slid more than 6% after the construction equipment maker said its fourth-...

[ad_1] Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. Anna Moneymaker | Getty Images Results were good, but not good enough. That's Wall Street's reaction to quarterly results on Tuesday from Alphabet and Microsoft . Both companies reported revenue and earnings that exceeded estimates, yet the stocks sold off in extended trading. In investor speak, the stocks were priced for perfection. Alphabet shares are up 56% for the year and climbed to a fresh high last week, exceeding the prior record from late 2021, the peak of the tech boom. Microsoft is up 70% over the past 12 months, also reaching a fresh high recently and surpassing Apple as the most valuable publicly traded company. The companies generated excitement last year by riding the artificial intelligence wave, and were also lauded by shareholders for their dramatic cost-cutting efforts, which included ...

[ad_1] In a jam-packed week of earnings, the Club executed multiple trades and elevated price targets for some of our biggest stocks. Many of these moves stemmed from what we saw in quarterly numbers and heard on conference calls. Here's a day-by-day look at the portfolio action. Monday The week began with our decision to exit our Johnson & Johnson (JNJ) position, as the legal road ahead for the pharmaceutical and medical device maker became too treacherous to navigate. After trying to resolve its talc liabilities through bankruptcy failed for a second time, we concluded that upside in the stock would be limited for the foreseeable future, and our money could be put to better use elsewhere. We realized a small profit on Monday's sale of what had been our remaining 500 shares. Microsoft (MSFT) and GE Healthcare (GEHC) fit the bill as better places to put money to work, so Monday afternoon we bought 45 more shares of MSFT and 225 more shares of GEHC. Along with our Micro...

[ad_1] The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. These big-name investors also made moves in nine other Club stocks during a strong three-month stretch that ended the best first half for the market in years. Starting with Salesforce, Dan Loeb's Third Point shed its stake in the second quarter. Jeff Smith's Starboard Value — the first known activist to target the enterprise software giant — cut its stake by 21% in the three months ended June 30. Those sales are among the Club-related trades revealed this week by the latest batch of securities filings known as 13Fs. Submitted to U.S. regulators on a quarterly basis, these disclosures offer a look — albeit with some limitations — into the investment decisions that closely followed Wall Street pros have made. CRM .SPX YTD mountain Salesforce's year-to-date stock performance, in compariso...