Two Nvidia customers made up 39% of Nvidia’s revenue in its July quarter, the company revealed in a financial filing on Wednesday, raising concerns about the concentration of the chipmaker’s clientele.”Customer A” made up 23% of total revenue, and “Customer B” comprised 16% of total revenue, according to the company’s second-quarter filing with the Securities and Exchange Commission.That’s higher than the same quarter a year ago when Nvidia’s top two customers made up 14% and 11% of sales, according to the filing.The company regularly publishes information on a quarterly basis about its top customers, but the disclosure this week is…
Author: usaeverydaylife
Check out the companies making headlines in midday trading: Nvidia — The graphics processing unit manufacturer slipped more than 1% after its data center revenue came in below estimates for the second straight quarter. However, Nvidia posted a second-quarter earnings and revenue beat. Hormel — The food company’s stock fell more than 13% to a 52-week low after it warned profits would be lower than expected in the current quarter as it grapples with higher commodity costs. For the fourth quarter, Hormel expects to earn between 38 cents and 40 cents a share, which is significantly below the 49 cents…
Chemical giant Albemarle (ALB) has shown renewed strength in August, with a recent push above the 200-day moving average signaling a strong case for further upside. Today we’ll review why this recent breakout means a likely new bullish phase for this large cap lithium name and identify some key factors that would help us validate the bullish case. The daily chart of ALB shows an initial push above the 200-day moving average in July, although that breakout failed to sustain its gains above this long-term trend barometer. After a bounce off the 50-day moving average, Albemarle once again popped above…
(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) Widely followed tech analyst Dan Ives thinks the tepid reaction to Nvdia’s earnings is wrong and the AI juggernaut will be worth much more in the near future. “As you look at numbers and you factor in China, numbers are probably going to go up 8%-10%,” Wedbush’s Dan Ives told CNBC’s Frank Holland in a CNBC PRO video, regarding company earnings estimates. “I think it’s noise. I think it’s a knee jerk. And…
A member of the U.S. rail regulatory board said he discovered that he had been fired by the Trump administration after returning home from an Amtrak event to unveil new high-speed Acela trains.”I was just as surprised as anyone else,” the former Surface Transportation Board member, Robert Primus, told CNBC’s Eamon Javers on Thursday in his first broadcast interview since his removal.Primus, a Democrat who was nominated to the board in 2020 during President Donald Trump’s first term, also reaffirmed that he planned to fight his ouster.”I tell people, I’m from Jersey and Jersey folks know how to fight,” he said.The…
Lisa Cook, governor of the US Federal Reserve, speaks at the Peterson Institute For International Economics in Washington, DC, US, on Thursday, Oct. 6, 2022.Ting Shen | Bloomberg | Getty ImagesFederal Reserve Governor Lisa Cook’s lawsuit against Donald Trump challenges his ability to remove her from office, but only briefly addresses the central accusations that she committed mortgage fraud.The complaint mostly focuses on rules outlined in the Federal Reserve Act that state Fed officials can only be removed for “cause,” a legally nebulous condition that may have to be determined by the Supreme Court.Cook maintains that the fraud allegations do…
Charles Giancarlo, Pure Storage CEO, joins CNBC’s ‘Closing Bell Overtime’ on Aug. 27, 2025. CNBCPure Storage shares jumped over 30% on Thursday and headed for a record close after the data storage management vendor reported quarterly results that topped estimates and lifted its guidance for the year.Wall Street was particularly enthused about the early success of the company’s deal with Meta.In March, Pure announced it had secured an agreement with Meta to be the social media company’s “key storage provider.” That came three months after Pure teased a new contract with an unnamed “top four” AI hyperscaler. The deal was…
Josh Brown believes Nvidia is headed to $200 a share as investors focus on the “meat and potatoes” of the business. The chipmaker was down about 1% in midday trading Thursday after falling as much as 5% overnight —despite second-quarter earnings and revenue beating Wall Street analysts’ estimates. Brown, CEO of Ritholtz Wealth Management, said on CNBC’s ” Halftime Report ” he’s not concerned about the immediate market reaction, despite the unusual move Thursday. “Recently, the pattern has been that the stock runs up into earnings,” he said, noting that shares jumped about 20% from the start of the summer…
Bitcoin’s volatility has collapsed from 60% at the start of 2025 to about 30% — which could make the crypto asset more appealing to institutional investors once put off by its rollercoaster price swings, according to JPMorgan. “Expect that the allocations to bitcoin by institutional investors could match those of competing assets classes such as gold if there is convergence in volatilities,” strategist Nikolaos Panigirtzoglou said in a note Thursday. “A significant convergence in volatilities between bitcoin and gold has been taking place over the past year” and is now “the lowest on record.” A contributing factor has been the…
Rows of Volkswagen ID Buzz electric buses are parked at the National City Marine Terminal, a major port for vehicle imports and exports to the U.S.Kevin Carter | Getty Images News | Getty ImagesThe European Union formally proposed Thursday to remove tariffs on American industrial goods, fulfilling a key element of the U.S.-EU framework trade agreement and ensuring that lower automobile tariffs will be retroactive to the beginning of August.The European Commission, the executive arm of the EU, said in a statement that the removal of duties on industrial goods, along with providing “preferential market access” for some U.S. seafood and…
