Nvidia reported strong fiscal first-quarter earnings on Wednesday.Wall Street was pleased with Nvidia’s continued sales growth, which hit 69% during the quarter. The company’s data center division continues to surge as companies, countries, and cloud providers snap up Nvidia graphics processors, or GPUs, for artificial intelligence software.”The team continues to maintain a 1- 2 step lead ahead of competitors with its silicon/hardware/software platforms and a strong ecosystem, and the team is further distancing itself with its aggressive cadence of new product launches and more product segmentation over time,” wrote JPMorgan analyst Harlan Sur.Here are three big takeaways from the company’s…
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Oil prices eased on Tuesday as market participants weighed the possibility of an OPEC+ decision to further increase its crude oil output at a meeting later this week.Anadolu | Anadolu | Getty ImagesEight oil-producing nations of the OPEC+ alliance could hike output by as much as 411,000 barrels per day in July, two OPEC+ delegates told CNBC, continuing a rapid unwinding of voluntary production cuts.Markets are awaiting a final decision on July production, with the eight countries — heavyweight producers Russia and Saudi Arabia, alongside Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates — set to review market…
Check out the companies making headlines before the bell. Nvidia — The graphics processing unit manufacturer popped 6% after fiscal first-quarter adjusted earnings of 96 cents per share exceeded the 93 cents analysts polled by LSEG had expected. Nvidia’s revenue of $44.06 billion also beat forecasts of $43.31 billion. Other chip stocks rallied in sympathy. Shares of Marvell Technology surged 5%. Broadcom and Advanced Micro Devices each added 3%, while Intel and Taiwan Semiconductor Manufacturer added 1%. Best Buy — The electronics retailer slipped 2% after lowering its full-year guidance for sales and adjusted earnings per share. Best Buy’s CFO…
Here are Thursday’s biggest calls on Wall Street: Bank of America reiterates Salesforce as buy Bank of America said Wednesday’s earnings report was “not a game changer” but that’s sticking with the stock. “We believe Salesforce is well positioned to continue capturing share of the cumulative $200 billion market opportunity.” JPMorgan reiterates HP Inc as overweight JPMorgan said it’s sticking with the stock following earnings on Wednesday. ” HPQ is leveraging a combination of price increases as well as supply chain changes to offset the effect of tariffs on margins, but is expected to reach closer to neutralizing the headwinds…
Southwest Airlines could be positioned for more gains on the heels of the past year’s deal with activist investor Elliott Investment Management, Deutsche Bank says. Analyst Michael Linenberg upgraded the airline stock to buy from hold and increased his price target by 43% to $40 from $28. That implies nearly 22% upside from Wednesday’s close of $32.89. The upgrade comes after Elliott and Southwest Airlines struck a deal in October to keep chief executive Bob Jordan and add six directors to the airline’s board, staving off a proxy fight. Months before, Elliott had amassed an 11% stake in the company.…
Intel’s CEO Lip-Bu Tan speaks at the company’s Annual Manufacturing Technology Conference in San Jose, California, U.S. April 29, 2025. Laure Andrillon | ReutersWhen Lip-Bu Tan was named CEO of Intel a little over two months ago, he brought with him plenty of name recognition. Tan spent 12 years running Cadence Design Systems and before that was a prominent venture capitalist. He’s also held board seats at SoftBank and Hewlett Packard Enterprise.”Lip-Bu’s Rolodex is like nobody else’s in the semiconductor industry,” Intel CFO David Zinsner said at a financial conference this month. Zinsner said Tan recently met with 22 potential…
Salesforce’s latest quarterly results weren’t enough to sway some skeptics on the stock. The company’s fiscal first-quarter earnings and revenue beat consensus estimates. Not only that, Salesforce raised its earnings and revenue outlook for the full year. It also reiterated its 9% growth forecast in subscription and support revenue. Still, the stock was little changed in the premarket following the release. Some analysts pointed to an uncertain outlook for the tech giant. A few analysts trimmed their targets. RBC went as far as to downgrade Salesforce shares. To be sure, some on the Street remained bullish on the stock after…
Logo of Best Buy displayed outside a Best Buy store in Edmonton, Alberta, Canada, on March 22, 2025. Artur Widak | Nurphoto | Getty ImagesBest Buy on Thursday missed quarterly revenue expectations and cut its full-year sales and profit guidance as higher tariffs increase the costs of many consumer electronics that it sells.For its fiscal 2026, the retailer said it now expects $41.1 billion to $41.9 billion of revenue, down from its previous range of $41.4 billion to $42.2 billion. It said it expects adjusted earnings per share to range from $6.15 to $6.30, which compares to prior guidance of…
United Airlines has a new friend in Queens.The airline is returning to New York’s John F. Kennedy International Airport again, this time through a partnership with JetBlue Airways.The partnership, called Blue Sky, will allow JetBlue customers to earn frequent flyer miles on United and vice versa. It also includes reciprocal loyalty benefits like priority boarding and roomier seats for travelers with elite status.Some aspects of the partnership, which the carriers announced Thursday, will begin as early as the fall, though the airlines didn’t provide exact timing. They also did not provide financial details of the deal.JetBlue’s leaders have long said they need a…
“Trump Always Chickens Out,” or TACO, is a gibe that has ruffled the U.S. president’s feathers, and investors have, by now, seen it happening enough times to know his playbook. The phrase, coined by a Financial Times columnist, refers to Donald Trump’s pattern of threatening steep tariffs that rattle markets, only to ease or postpone them after a sharp market sell-off, prompting a recovery. “Trump’s style in negotiating deals is he huffs and he puffs, but he doesn’t blow the house down,” Ed Yardeni, president of Yardeni Research, told CNBC. In February, Trump announced a 25% tariff on imports from…
