Here are five key things investors need to know to start the trading day:
1. Markets
2. ASML tanks
The ASML logo is seen at its headquarters in Veldhoven, Netherlands, on June 16, 2023.
Piroschka Van De Wouw | Reuters
Semiconductor equipment maker ASML mistakenly released its earnings report a day early, reporting a disappointing forecast in sales. While net sales of 7.5 billion euros ($8.17 billion) beat the LSEG consensus expectation, the company said net bookings for the third quarter came in at 2.6 billion euros ($2.83 billion), well below the 5.6 billion euro estimate. Shares of ASML slid 16% after hours on Tuesday, following a technical error that published the report on its website. The hit to shares bled into other chip stocks, with Nvidia, Advanced Micro Devices and Broadcom all dropping after the report was released.
3. Banks fly high
People walk by a Citibank location in Manhattan, New York City, on March 1, 2024.
Spencer Platt | Getty Images
4. Walgreens to shrink
A Walgreens store stands on June 27, 2024 in the Brooklyn borough of New York City.
Spencer Platt | Getty Images
Walgreens announced fiscal fourth-quarter sales and profit that exceeded Wall Street expectations, as the company cut costs in the midst of a rough fiscal year. The retail pharmacy giant also said it plans to close around 1,200 stores over the next three years, with 500 in fiscal 2025 alone. The closures will provide a “healthier store base,” according to Walgreens CEO Tim Wentworth during an earnings call on Tuesday. Shares jumped about 13% following the report on Tuesday.
5. Raiders’ new owners
A close up of Las Vegas Raiders helmet on the field prior to the AFC Wild Card playoff game against the Cincinnati Bengals at Paul Brown Stadium on January 15, 2022 in Cincinnati, Ohio.
Perry Knotts | Getty Images Sport | Getty Images
National Football League owners unanimously approved Tom Brady and business partner Tom Wagner as minority owners of the Las Vegas Raiders on Tuesday. Wagner, founder of Knighthead Capital, and Brady, the seven-time Super Bowl champ, purchased about a 10% stake in the Raiders. The team has grown massively since it moved from Oakland, California, to Las Vegas, Nevada, in 2020. It is now the fifth-most valuable franchise worth $7.8 billion, according to CNBC’s Official 2024 NFL Team Valuations. Brady and Wagner bought in at a $3.5 billion valuation, over a 50% discount, with an equity investment of about $220 million as part of the partnership, according to people familiar with the negotiations.
— CNBC’s Ryan Browne, Anniek Bao, Hugh Son, Jesse Pound, Annika Kim Constantino, Jessica Golden and Michael Ozanian contributed to this report.
