Nvidia shares jumped in extended trading Wednesday evening after the AI chipmaker reported better-than-expected quarterly revenue and earnings. It also provided an upbeat view of its current second quarter despite restrictions on what it can sell to China. Revenue in its fiscal 2026 first quarter increased 69% year over year to $44.06 billion, beating the $43.31 billion the Street was looking for, according to estimates compiled by data provider LSEG. Adjusted earnings per share increased 57% year over year to 96 cents in the three-month period ended April 27, exceeding the consensus of 93 cents, LSEG data showed. Both EPS…
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Stocks slid on Wednesday, with the Dow Industrials dropping about 245 points. Here’s what CNBC is watching heading into Thursday. Source link
Chris Rolland, Susquehanna, joins ‘Fast Money’ to talk Nvidia’s Q1 earnings. Source link
Traders work on the floor of the New York Stock Exchange on May 28, 2025. NYSEFutures connected to the Dow Jones Industrial Average surged Wednesday night as a federal court knocked down President Donald Trump’s “reciprocal” tariffs. Solid earnings from artificial intelligence heavyweight Nvidia also buoyed the market.Futures tied to the S&P 500 rose 1.4%, while Nasdaq 100 futures gained 1.7%. Dow Jones Industrial Average futures added 438 points, or 1%.Nvidia shares jumped nearly 5% in after-hours trading. The chipmaker reported exceeded expectations on the top and bottom lines in the first quarter, as its data center business recorded year-over-year…
U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement on April 2, 2025 in Washington, DC.Chip Somodevilla | Getty Images News | Getty ImagesA federal court ruled Wednesday that President Donald Trump exceeded his authority with his reciprocal tariffs, dealing a blow to a major tenet of the president’s economic agenda.The judges wrote that the International Emergency Economic Powers Act, a 1977 law that Trump invoked to justify the tariffs, does not actually give the president the power to implement the sweeping duties initiated last month.”The Worldwide and Retaliatory Tariff Orders…
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on May 27, 2025, in New York City. Timothy A. Clary | Afp | Getty ImagesInvestors are getting nervous the U.S. government might struggle to pay its debt — and they are snapping up insurance in case it defaults.The cost of insuring exposure to U.S. government debt has been rising steadily and is hovering near its highest level in two years, according to LSEG data.Spreads or premiums on U.S. 1-year credit default swaps were up at 52 basis points as of Wednesday from 16…
Owning Booz Allen Hamilton at current levels no longer makes sense, according to Goldman Sachs. The bank downgraded shares of the defense contractor to sell from neutral. Analyst Noah Poponak also cut his 12-month price target to $94 from $108, signaling 14% downside. Shares of Booz Allen Hamilton have already stumbled 15% this year, but Goldman thinks there is more pain ahead for investors in the name. BAH YTD mountain BAH YTD chart “We see limited revenue and earnings growth over the medium-term, while valuation still has downside risk,” Poponak wrote. “We see medium-term revenue growth now closer to flat…
The final trades of the day with CNBC’s Melissa Lee and the Fast Money traders. Source link
Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025. Cheng / AFP) (Photo by I-HWA CHENG/AFP via Getty Images) I-hwa Cheng | Afp | Getty ImagesAs pleased as Wall Street was with Nvidia’s quarterly results on Wednesday, CEO Jensen Huang said the company is leaving billions of dollars in revenue on the table because it can no longer sell to China.”The $50 billion China market is effectively closed to U.S. industry,” Huang told analysts at the beginning of his prepared remarks on the earnings call. “As a result, we are…
Investors are underappreciating the effect generative artificial intelligence will have on biotech stocks, according to Jefferies. Biotech stocks have had a challenging couple of years, falling into a correction after an initial surge at the onset of the Covid-19 pandemic, as they navigated a higher interest rate environment. More recently, tariffs and staffing reductions at the U.S. Department of Health and Human Services have also hit the sector. The SPDR S & P Biotech ETF (XBI) is down more than 11% in 2025, while the S & P 500 has eked out a slight gain. XBI YTD mountain XBI Nevertheless,…
