Apple has confirmed that CEO Tim Cook will step down on September 1, with John Ternus appointed as his successor, amidst a stable market cap of $4 trillion. The company's share price saw a slight increase of 1%, closing at $273.05. Meanwhile, the overall market sentiment is buoyed by strong earnings reports from firms like D.R. Horton and Quest Diagnostics, with 81% of S&P 500 companies beating estimates and projected Q1 earnings expected to climb 12% year-over-year.
“$AAPL -0.4%: Announces CEO transition, whereby Cook will step down on 1st Sept.”
“$DHI +3.7%: EPS & rev. beat alongside better than exp. top line guidance”
“$AMZN +2.4%: Expands partnership w/ Anthropic”
“Avis Budget Group · closed up · +17% · amid a short squeeze”
“Northern Trust · closed up · +8% · after reporting Q1 net interest income FTE of $661.6 million”
“D.R. Horton · closed up · +5% · after reporting Q2 net sales orders of 24,992”
“Quest Diagnostics · closed up · +4% · after reporting Q1 net revenue of $2.90 billion”
“Arrowhead Pharmaceuticals · closed up · +2% · after Morgan Stanley upgraded the stock”
“81% of the 48 S&P 500 companies · have beaten estimates · for Q1 earnings”
“Q1 S&P 500 earnings · are projected to climb · +12% y/y”
“German Apr ZEW survey expectations of economic growth · fell · -16.7 to a 3.25-year low of -17.2”
“UnitedHealth Group · is up · more than +7%”
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