The S&P 500 is up about 0.7% for the week and the Nasdaq 1.4% ahead of Kevin Warsh’s Jackson Hole speech. Marvell posted solid results but the stock is down 7%, while Workday beat top and bottom-line estimates with AI contributing more than a quarter of its new annual contract value. Affirm surges 13% on strong profitability, PayPal drops 15% after Advent and Stripe dropped their pursuit, and Gap jumps 16% following the appointment of a new leader for Old Navy. Solstice and Element Solutions abandon their $14.5 billion merger with Solstice up over 14%, Palo Alto Networks sees its price target raised to $450 by Jefferies, Eli Lilly’s Mounjaro wins FDA approval for cardiovascular risk reduction, and Dollar General benefits from price target increases by Citi and Goldman Sachs.
Source: Read the original article
