Nasdaq Rises 100 Points; Alibaba Posts Weak Earnings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2024
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Source: Benzinga
- U.S. Stock Market: Nasdaq Composite gained over 100 points, Dow up by 0.22%, NASDAQ rose by 0.64%, and S&P 500 increased by 0.34%.
- Top Headline: Alibaba reported weaker-than-expected earnings for its fiscal fourth-quarter.
- Equities Trading UP: Cheetah Net Supply Chain Service Inc. shares surged by 246%, SunPower Corporation shares rose by 48%, and GameStop Corp. shares were up by 39%.
- Equities Trading DOWN: Augmedix, Inc. shares dropped by 50%, Scorpius Holdings, Inc. shares fell by 55%, and Inotiv, Inc. was down by 48%.
- Commodities and Global Markets: Oil traded down by 1.4%, gold traded up by 0.7%, European shares were mostly higher, and Asian markets closed mixed.
Analyst Views on CTNT
About CTNT
Cheetah Net Supply Chain Service Inc. is a logistics and warehousing services provider. The Company is focused on logistics and warehousing services. The logistics and warehousing business focus on providing freight forwarding services for clients shipping goods from the United States to mainland China or Hong Kong. It operates as a non-vessel-operating common carrier (NVOCC), bridging the gap between shippers and ocean carriers to facilitate the movement of cargo. By acting as its customers United States point of contact, it coordinates shipments on their behalf, leveraging its expertise and carrier network to streamline logistics. Its primary responsibilities include cargo storage, freight forwarding, United States customs clearance, and labor services and cargo loading and unloading. The Company provides general labor and container loading and unloading workforce services to clients through TW & EW Services Inc (TWEW).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
