Wall Street's Getting Jittery About These 2 Nasdaq Stocks
2023 has gone very well for stock market investors, with major market benchmarks bouncing significantly from 2022's weakness. However, a big move lower on Thursday came on concerns about the Federal Reserve keeping interest rates higher for longer, and that caused the Nasdaq Composite (NASDAQINDEX: ^IXIC) to lose ground. Friday morning's futures market action suggested there could be more losses in store for the Nasdaq, with losses of another 1% or so.
A pair of Nasdaq stocks in particular reflected the negative sentiment on the Nasdaq right now. Cognex (NASDAQ: CGNX) and Texas Roadhouse (NASDAQ: TXRH) reported their latest quarterly results overnight, and what shareholders saw worried them about what the two companies' future prospects could look like. Not all of their news was bad, but for the two stocks to rebound, investors will have to regain confidence that their businesses can rebound.
Shares of Cognex dropped 8% in premarket trading on Friday morning. The factory automation specialist reported fourth-quarter financial results that were consistent with its guidance but failed to generate the enthusiasm that shareholders had wanted to see.
Source Fool.com
