MicroStrategy falls sharply after reporting a steep first-quarter loss, Eli Lilly tops earnings estimates and raises full-year guidance, and Tesla shares decline after surging 15% on Monday. Amazon.com, AMD, and Super Micro Computer are scheduled to report earnings after the closing bell Tuesday.
(Bloomberg) -- Shares of online-education firm Chegg Inc. were on track for their biggest drop in about a year as competition from AI tools led Wall Street analysts to downgrade the stock.Most Read from BloombergTesla Axes Most of Supercharger Team in Blow to Other AutomakersTraders Expect Biggest Fed-Day Move in S&P Since 2023, Citi SaysWall Street Hit by Fed Jitters to Close Wild April: Markets WrapHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsPot Stocks Surge on Report DEA Set to
Chegg's growth metrics have declined since the launch of free AI learning tools, weighing heavily on the stock.