Why Upstart Stock Was Climbing Today
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The company is keeping costs in check while signaling upbeat growth trends, analysts say.
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Researchers at Andromeda Capital Management are worried about the uncertain return on investment for investors who are financing the AI capex bonanza.
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The largest part of the economy grew in July at a robust pace, but scattered shortages of key supplies and dogged inflation raised the cost of business and companies responded by keeping a lid on hiring.
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Analysts noted that the company delivered muted upside with its results, underwhelmed some investors with its margin outlook and was simply up against high expectations.
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ADP said U.S. businesses created just 44,000 new jobs in July — the smallest increase in six months — in another sign of a sluggish labor market in which hiring is unusually soft.
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Hiring at private companies slowed considerably in July, with most of the job growth coming health care.
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