Nvidia, a leading technology company, experienced a dip in its shares during premarket trading in the U.S. due to its fiscal second-quarter gross margin slipping slightly and falling short of high market expectations. While the company reported an impressive revenue beat in the July quarter, with over $30 billion in revenue, a 122% increase year-on-year,
Earnings
Thursday saw the S&P 500 rise by 0.7%, despite Nvidia’s decline after their impressive earnings report. Nvidia’s stock tumbled 3.5% due to falling short on analysts’ expectations for their full-year outlook on gross margins. Jim Cramer referred to Nvidia’s chief executive as the “mortal Jensen Huang” following the company’s earnings call. While he maintains a
American Eagle, a well-known apparel company, recently released its second quarter earnings report, and the results were a bit of a mixed bag. While the company missed Wall Street’s sales targets for the second quarter in a row, profit grew by nearly 60%. This significant increase in profit was attributed in part to lower product
MongoDB experienced a significant boost in their shares, climbing by as much as 16% in after-hours trading following the release of their fiscal second-quarter earnings report. The company outperformed expectations, with adjusted earnings per share coming in at 70 cents compared to the anticipated 49 cents. Additionally, MongoDB reported revenue of $478.1 million, exceeding the
Salesforce’s second-quarter results exceeded expectations, with earnings per share coming in at $2.56 adjusted, compared to the expected $2.36. Revenue also outperformed, reaching $9.33 billion, higher than the anticipated $9.23 billion. The company’s revenue increased by 8% year over year, ending on July 31. This growth was attributed to a rise in average revenue per
Shares of Chinese online retailer JD.com experienced a 1.2% increase in their Hong Kong-listed shares following the announcement of a $5 billion buyback. This rise in share price outperformed the decline on the Hang Seng index, showcasing investor confidence in the company’s decision. Similarly, U.S. listed shares of JD.com saw a 2.24% increase after the
In the dynamic world of retail, Amazon faces the challenge of meeting the high demands of consumers with short attention spans. With the competition getting tougher and consumers constantly seeking better deals, the pressure is on for Amazon to boost its revenue from the retail sector. According to research firm MoffettNathanson, the retail division has
Last week, Fed Chairman Jerome Powell’s speech at Jackson Hole provided investors with the news they were waiting for. Powell mentioned the possibility of interest rate cuts, which resulted in the market expecting cuts totaling 100 basis points by the end of the year. The CME FedWatch tool predicts a 25-basis-point cut in September, a
Cava Group, a fast-casual restaurant brand, saw its shares climb nearly 6% in after-hours trading following a better-than-expected earnings report. The company posted a profit of 17 cents per share, which was 4 cents above the LSEG estimate. Additionally, its revenue also exceeded expectations, contributing to the positive movement in its stock price. Uber: Down
Bavarian Nordic, a biotech company based in Denmark, experienced a significant 13% jump in its shares following the announcement of stronger-than-expected earnings. The company reported second-quarter revenues of 1.43 billion Danish krone and an operating profit of 420 million krone, surpassing the expectations of analysts. This positive financial performance contributed to the surge in stock