{"id":7086,"date":"2024-02-10T12:46:33","date_gmt":"2024-02-10T07:16:33","guid":{"rendered":"https:\/\/bigbreakingwire.in\/tech-dominance-and-retail-struggles-sp-500-hits-new-highs-earnings-reports-shape-market-landscape\/"},"modified":"2024-02-16T15:25:42","modified_gmt":"2024-02-16T09:55:42","slug":"tech-dominance-and-retail-struggles-sp-500-hits-new-highs-earnings-reports-shape-market-landscape","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/tech-dominance-and-retail-struggles-sp-500-hits-new-highs-earnings-reports-shape-market-landscape\/","title":{"rendered":"Tech Dominance and Retail Struggles: S&amp;P 500 Hits New Highs, Earnings Reports Shape Market Landscape"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>\n<p><\/p>\n\n\n\n<p>Retail stocks in the S&amp;P 500, excluding the technology sector, are currently experiencing their lowest levels in comparison to the technology stocks within the index.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/twitter.com\/BigBreakingWire\/status\/1756207183593623620?t=oJJj9EyfL-6HaadZyTxA5w&#038;s=19\n<\/div><figcaption class=\"wp-element-caption\">BigBreakingWire on X<\/figcaption><\/figure>\n\n\n\n<p>The S&amp;P 500 concluded the week by reaching a new record high above 5,000. Notable companies such as Alibaba, PayPal, and Disney reported earnings during the week.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The technology sector emerged as the best-performing major sector in the S&amp;P 500 on Friday.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Pinterest shares collapsed after reporting $981 million in revenue, missing the expected $991 million. Year-over-year, revenue increased by 12%, reaching $201 million in net income.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Disney reported slightly below projected quarterly revenue at $23.5 billion but authorized a $3 billion share repurchase program and declared a 45 cents per share dividend. CEO Bob Iger mentioned the company entering a new era of growth.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>PayPal exceeded market forecasts with an 8.7% rise in revenue to $8.03 billion and reported quarterly adjusted earnings of $1.48 per share, with net income totaling $1.4 billion. CEO Alex Chriss emphasized ongoing initiatives to drive change.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Alibaba revealed Q3 adjusted net income of RMB 47,951 million and Q3 revenue of RMB 260,348 million, announcing a $25 billion increase to its share repurchase program. The company prioritized reigniting growth in its core businesses, e-commerce, and cloud computing.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Uber announced Q4 net income of $1.4 billion, Q4 gross bookings of $37.6 billion, and net revenue of $9.94 billion. CFO Prashanth Mahendra-Rajah highlighted Uber&#8217;s platform advantages and disciplined investments leading to record engagement and accelerating gross bookings in Q4.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retail stocks in the S&amp;P 500, excluding the technology sector, are currently experiencing their lowest levels in comparison to the technology stocks within the index.&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[31,619,1,39],"tags":[186,1092,1080,1093,246],"class_list":["post-7086","post","type-post","status-publish","format-standard","hentry","category-business","category-stocks-in-news","category-tech","category-world","tag-qqq","tag-spx","tag-spy","tag-sp500","tag-tech-stocks","entry","rows"],"jetpack_publicize_connections":[],"modified_by":"bigbreakingwire","jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfgCxS-1Qi","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/7086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/comments?post=7086"}],"version-history":[{"count":0,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/7086\/revisions"}],"wp:attachment":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media?parent=7086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/categories?post=7086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/tags?post=7086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}