2 Hours Ago
Don’t ‘sell in May and go away,’ says Carson Group’s Detrick
Carson Group chief market strategist Ryan Detrick believes the stock correction in April is now behind the markets, despite the common “Sell in May and go away” adage.
“Don’t just blindly invest in seasonality, but you tend to get a lot of strength in the summer of an election year,” Detrick told CNBC’s “Closing Bell” on Monday.
Detrick said he is overweight on cyclical stocks and added more exposure to industrials and financials last month. Mid-cap and some small-cap stocks could also see growth this year, the strategist added.
— Hakyung Kim
2 Hours Ago
Stocks making the biggest moves after hours
Check out the companies making headlines in extended trading:
Palantir Technologies — Shares declined more than 8% after the company issued lighter-than-expected guidance for full-year revenue. First-quarter adjusted earnings were in line with expectations at 8 cents per share, per LSEG. Meanwhile, quarterly revenue of $634 million topped forecasts of $625 million.
Lucid Group — The electric vehicle maker tumbled around 10% following its first-quarter results. Despite posting a slight revenue beat, per LSEG, the company posted a loss of 30 cents per share, based on generally accepted accounting principles. Lucid also reaffirmed its 2024 production guidance of about 9,000 vehicles.
Hims & Hers Health — The telehealth consultation platform jumped 11.1% postmarket after revenue guidance for the second quarter surpassed analysts’ estimates. Hims & Hers sees revenue ranging between $292 million and $297 million, compared to analysts’ forecasts for $288 million, per LSEG. First-quarter results also came in ahead of Street estimates.
The full list can be found here.
— Hakyung Kim
2 Hours Ago
Stock futures are marginally lower Monday
U.S. stock futures were little changed Monday evening.
Dow Jones Industrial Average futures slipped 8 points, or just 0.02%. S&P 500 and Nasdaq 100 futures also pulled back by less than 0.1% each.
— Hakyung Kim
Source: Stock futures are little changed after Dow posts four-day win streak: Live updates
