Stock Futures Tick Higher as Markets Look to Extend Gains Entering Thanksgiving Holiday

This AI Chip Stock Is Getting a Big Boost From Google’s Hot Streak

5 minutes ago

Alphabet’s stock has been on a roll lately. One big beneficiary of that move? Broadcom.

The rise in shares of Alphabet, Google’s parent company, has helped inject some energy back into a flagging AI trade. That’s had knock-on effects on a range of tech stocks—though few have benefitted as much as Broadcom (AVGO), which counts Google as a major customer for its AI chips.

Broadcom’s shares have surged recently, climbing along with Alphabet’s (GOOGL, GOOG), which have been lifted by a series of positive developments for the cloud giant from a vote of confidence from Warren Buffett’s Berkshire Hathaway to an upbeat reception for its latest AI model and signs of a new deal involving its chips.

Alphabet shares advanced around 2% to finish at a fresh high Tuesday, and have added about 17% since Berkshire’s stake was revealed in a regulatory filing a little over a week ago.

Read the full article here.

–Kara Greenberg

Autodesk Stock Pops as Digital Design Software Maker Raises Full-Year Outlook

44 minutes ago

Autodesk’s finance chief says the digital design software maker has “current momentum.” Shareholders appear to agree.

Shares of Autodesk (ADSK) surged 8% in premarket trading Wednesday, a day after the firm reported third-quarter results above expectation and lifted its full-year outlook.

The San Francisco-based company, which is known for its AutoCAD software, posted adjusted earnings of $2.67 per share on revenue that rose 18% year-over-year to $1.85 billion. Analysts surveyed by Visible Alpha expected $2.50 and $1.81 billion, respectively.

Autodesk raised its full-year projections for adjusted EPS to $10.18 to $10.25 from the previous range of $9.80 to $9.98, and for revenue to $7.15 billion to $7.165 billion, up from $7.025 billion to $7.075 billion.

“The macroeconomic environment has been broadly stable though uncertainty remains elevated, and we have so far successfully executed our sales and marketing optimization plan,” Autodesk CFO Janesh Moorjani said. “We are raising our full-year guidance to reflect the current momentum of the business.”

Autodesk shares entered Wednesday near flat on the year.

Polymarket Just Got CFTC Sign-Off. Prediction Markets Are on the March

1 hr 15 min ago

Polymarket is back on American shores.

The popular predictions marketplace operator said late Tuesday that the Commodity Futures Trading Commission cleared the way for U.S. customers to bet on events—whether they’re central bank policy moves or how the Packers will fare against the Lions come Thanksgiving—through their brokerages.1

Polymarket’s regulatory clearance to return to the U.S. coincides with a boom in events trading, with pretty much every fintech platform from Robinhood (HOOD) to Coinbase Global (COIN), along with sports gambling purveyor DraftKings (DKNG) and Trump Media & Technolgy (DJT), angling for a piece of the action.

Experts believe something akin to a gold rush could come to the predictions business. Bank of America analysts earlier this month noted that more than two dozen sportsbooks were chasing users in 2020, with many taking steep losses along the way. “Unchecked, this is what [prediction markets] could look like in 2026,” they wrote.

Prediction markets continue to extend into a range of forums. Yahoo Finance earlier this month said Polymarket would power a prediction markets hub. And Google said it would add “support for prediction markets data” from Kalshi and Polymarket.

Read the full article here.

–Crystal Kim

Stock Futures Point Further Higher Entering Thanksgiving Holiday

2 hr 9 min ago

Futures contracts tied to the Dow Jones Industrial Average were up 0.2%.

S&P 500 futures advanced 0.3%.

Nasdaq 100 futures rose 0.4%.