Nvidia’s fiscal first-quarter results were strong, but tempered by challenges that kept them from being exceptional. The company reported record revenue of $44 billion, up 69% year over year and surpassing analyst estimates of $43.3 billion. Data center revenue, the core driver, reached $39.2 billion, close to estimates and up 73% year on year, driven by robust demand for AI chips. Nvidia’s revenue guidance for Q2 fiscal 2026 was $45 billion, in line with analyst expectations, despite an $8 billion hit from China export restrictions. CEO Jensen Huang emphasized the “booming” demand for AI hardware, particularly for Blackwell GPUs, with…
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Amazon CEO Andy Jassy speaks during an Amazon Devices launch event in New York City, U.S., February 26, 2025. Brendan Mcdermid | ReutersThe New York Times on Thursday struck a deal with Amazon allowing it to use the storied news organization’s content across its artificial intelligence platforms.The multi-year deal “will bring Times editorial content to a variety of Amazon customer experiences,” the Times said in a release. The agreement also includes content from the newspaper’s other properties like NYT Cooking and The Athletic.”This will include real-time display of summaries and short excerpts of Times content within Amazon products and services, such…
Wall Street’s excitement after the latest trade development may be short lived. Stock futures rallied overnight after a U.S. federal trade court struck down President Donald Trump’s so-called reciprocal tariffs. Safe-haven gold fell to a one-week low on the news, as traders around the world moved into riskier assets. U.S. Treasury prices also rallied, pushing yields lower. But while the court ruling halts levies that would pressure corporate profit margins and drive consumer prices higher, it also adds another layer of complexity at a time when investors are trying to look past trade headwinds. “The court injunction … poses a double-edged…
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…
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…
