This week, which stocks lagged or dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.
Below are top 10 S&P 500 stock gainers for the week ended Jul 18:
Invesco shares reach 2-year high after filing to reclassify $360 billion ETF
Shares of Invesco IVZ.N jumped more than 14% on Friday, hitting their highest level in more than two years after the investment manager filed paperwork to reclassify its popular QQQ exchange-traded fund QQQ.O into a management company.
An Invesco subsidiary, Invesco Capital Management, filed paperwork with the Securities and Exchange Commission, seeking permission from QQQ beneficial owners to operate the ETF as a management company, according to a statement on Friday.
That subsidiary will be appointed as QQQ's investment adviser should the proposal be approved, and its management fee will fall to 0.18% from 0.20%. Invesco could not be reached for further comment.
Warner Bros manages to hit a 52-week high, and it fights back against a shareholder lawsuit
While some might have thought that entertainment giant Warner Bros. Discovery (WBD) was holed below the waterline, sinking fast against the onslaught of numerous competitors, new reports suggest that is anything but the case. In fact, Warner managed to clear the 52-week high when it hit $12.75 per share. Warner stock is up over 8% last week.
Warner is hoping to keep this new streak alive going into a court case, as shareholders are suing Warner over its recent loss of NBA rights. Warner turned to the U.S. District Court for the Southern District of New York to dismiss said lawsuit, in which shareholders allege they were misled about just how much impact the loss of the NBA would have on Warner’s operations.
Coinbase Hits All-Time High As Wall Street Reacts to a Successful Crypto Week
Coinbase stock surged to an all-time high of $436 as markets opened Friday, following the US House’s landmark passage of two crypto bills.
The rally comes after the GENIUS Act and the CLARITY Act cleared the House late Thursday. Both bills bring long-awaited regulatory certainty to the crypto sector.
Palantir Stock Has Doubled This Year
Palantir Technologies (PLTR) continues to capture investor attention with its impressive stock performance, soaring 103% year-to-date.
The company’s growth is fueled by strong demand for its AI-driven solutions across both government and commercial sectors. With its second-quarter earnings report expected soon, Wall Street anticipates Palantir to post earnings per share of $0.14 on revenues of $937.5 million. Analyst Gregg Moskowitz of Mizuho has upgraded his rating on the stock from Underperform to Neutral, citing Palantir’s strong execution and rising demand for its AI tools as key drivers of its recent success.
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