AI is major earnings focus for US corporates far beyond Big Tech

Image source: Pixabay (Tung Nguyen)

AI is major earnings focus for US corporates far beyond Big Tech.🤖 The focus on artificial intelligence is spreading to stocks beyond US technology heavyweights, boosting analysts’ earnings estimates for a broader array of S&P 500 companies. Yahoo Finance reports.

⚠️ MetaCuts: Meta prepares for layoffs on Monday. Reuters reports.

⚡ ChipStruggle: Regarded as the biggest competitor to Nvidia in making chips used to train artificial intelligence software, Advanced Micro Devices shares look less like an immediate rival. Yahoo Finance reports.

☁️ AWSqueeze: Amazon, like Microsoft, says it can’t keep up with AI demand. Yahoo Finance reports.

❌ MuskPass: Elon Musk says he is not interested in buying TikTok. Reuters reports.

💾 SiliconShaken: TSMC sees first-quarter revenue near lower end of guidance on January earthquake impact. Reuters reports.

⚖️ YieldPause: Treasury yields flat as investors look to key economic data this week. CNBC reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $MGOL:MGO Global
Total gain: +87.46%

2. $PNBK: Patriot National Bancorp
Total gain: +65.51%

3. $STBX:Starbox Group Holdings
Total gain: +44.72%

4. $TGL: Treasure Global
Total gain: +34.87%

5. $JZXN: Jiuzi Holdings
Total gain: +34.12%

* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum”.

Why Is Fibonacci Retracement Considered A Powerful Tool?

Fibonacci retracement is powerful for several reasons, but its most important feature is its ability to provide traders with a structured way of analyzing price movement. Markets often move in waves—what traders refer to as impulsive moves followed by corrective moves. The Fibonacci retracement tool provides an indication of how deep a correction might be before a new trend resumes.

The tool’s power comes from its widespread use. Many traders and investors look at these key Fibonacci levels, which creates a kind of self-fulfilling prophecy. When enough market participants anticipate support or resistance at these levels, it often results in a market reaction around those prices. That’s why you’ll often see sharp reversals or consolidations at or near these Fibonacci levels.

Another reason Fibonacci retracement is so valuable is its simplicity. The calculations are built-in on most trading platforms, making it accessible even to newer traders. Despite its simplicity, it holds a great deal of predictive power. You don’t have to subscribe to a fancy service or buy a proprietary indicator—this is just math, freely available to all.

However, it’s important to keep in mind that Fibonacci levels are not foolproof. They provide potential price zones but should always be used in conjunction with other forms of analysis. Successful trading is about combining various tools and strategies to increase your probability of success. Fibonacci is just one part of the toolkit.

The closing price of the top three market percent gainers trading near or above $3 on February 7.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $LTBR: Lightbridge Corporation
Total gain: +36.14%
The stock appeared to be moving on no notable news.

2. $DOCS: Doximity
Total gain: +35.91%x
The company announced the results for its fiscal 2025 third quarter, which ended on December 31, 2024. Revenue for the quarter was $168.6 million, compared to $135.3 million for the same period in the previous year, representing a 25% year-over-year increase. Benzinga reports.

3. $LEU: Centrus Energy
Total gain: +32.15%
The company reported net income of $73.2 million for the year ended December 31, 2024, which is $4.49 (basic) and $4.47 (diluted) per common share. Benzinga reports.

Time (ET) / Report / Period

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“Of all the passions, none is more unreasoning than the desire to get rich; none so precipitates men into ruin.”

― Charles Mackay

Sourced in:
“Extraordinary Popular Delusions and the Madness of Crowds.”, by Charles Mackay, published in 1841.