samsung, smartphone, phone-5188631.jpg

Today in the Market (1/9/2024)

Good Morning! On Tuesday, U.S. stocks were mixed with a key player from the tech sector, Samsung, seeing its 6th straight quarter of declining operating profit.

The S&P 500 and the Dow Jones saw declines in the day by 0.15% & 0.42%, while the Nasdaq barely finished above by 0.09%, even with the disappointment from Samsung.


Unity Software (U) has just announced significant workforce reductions. However, Wall Street’s confidence in the corporate restructuring plan seems to be lacking, as the company’s shares saw a nearly 7% decline on the announcement of its intention to lay off around 1,800 people or 25% of its staff.

So how is this different from the other layoffs for other companies? In most cases, this has often increased a company’s stock value, driven by the anticipation of reduced expenses and improved operational effectiveness. However, the layoffs occurred at a difficult time for the firm following the revised pricing structure in September, which entails developers being billed based on the number of downloads they get, which resulted in a strong negative reaction from consumers, compelling the corporation to reverse its decision quickly.

It doesn’t stop there, sadly… The chief executive, John Riccitiello, announced his intention to resign. In addition, Unity failed to meet profitability projections in its last quarterly report in November and chose not to provide estimates for the fourth quarter.


Samsung Electronics Co. reported a decline in operating profit for the sixth consecutive quarter, indicating a decrease in consumer demand and raising doubts about when the wider technology industry would recover.

So how bad was it? The biggest corporation in Korea had a decline of 35% in its operating income, amounting to 2.8 trillion won ($2.1 billion), which fell short of projections by around 24%. On top of that, Samsung had its lowest operating profit in 15 years over the year 2023.

The big picture… The findings emphasize the persistently slow demand for smartphones and memory chips, which are essential components of contemporary electronic devices, due to economic uncertainties. Furthermore, it complicates the prospects of a market resurgence that several investors had anticipated to materialize in 2024. However, Samsung is relying on a fresh range of devices and folding devices to stimulate growth in 2024. They are making preparations to introduce their most recent technological devices in the U.S. later this month.

Scroll to Top

Where Are You On Your Investment Journey?




All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.


Contact Us

Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?