Chipmaking giant Nvidia reported second-quarter financial results after the closing bell on Wednesday, and the numbers were predictably impressive. The firm reported a 122% increase in sales in the quarter ending in July to go along with earnings that eclipsed Wall Street expectations.Shares were down about 6% on Thursday.It’s not often that a company posting better-than-expected results dings the share price, but Nvidia is an unusual case. The shares are up 146% on the year and an eye-watering 2,700% over the past half-decade. At this point, investors are undoubtedly beginning to wonder whether they’ve already baked in astronomical expectations for…
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Keir Starmer, UK prime minister, left, and Olaf Scholz, Germany’s chancellor, ahead of their meeting at the Chancellery in Berlin, Germany, on Wednesday, Aug. 28, 2024.Krisztian Bocsi | Bloomberg | Getty ImagesU.K. Prime Minister Keir Starmer and German Chancellor Olaf Scholz met in Berlin on Wednesday with a view to deepen ties amid a broader reset of relations after London’s exit from the European Union.In a press conference following the meeting, Starmer said areas of the bilateral agreement under discussion could include energy security, defence, climate change and economic themes. A strong relationship between the countries was also highly important…
Environmental activists calling for an international moratorium on deep-sea mining.Sopa Images | Lightrocket | Getty ImagesBrazilian marine scientist Leticia Carvalho will be the first-ever woman, oceanographer and person of Latin American heritage to lead the International Seabed Authority — and she says it “feels fantastic.””I am very proud,” Carvalho told CNBC via videoconference. “I think it is quite meaningful that someone new, fresh and with a different perspective is coming to take over.”The ISA, a little-known U.N. regulator that oversees deep-sea mining, is responsible for both the exploitation and conservation of an area that covers around 54% of the world’s…
Travelers may have finally had enough.With revenge travel over and pandemic savings depleted, travelers say they’re planning fewer trips this summer, or skipping their vacations altogether.”After two straight years of strong gains, the number of Americans planning to take leisure trips is taking a dip,” states a summer travel report from Deloitte Insights.The close of the second-quarter earnings season showed that major companies such as Marriott, Hyatt, Wyndham, Airbnb and Expedia are expecting travel demand to weaken this year as well. ‘Too expensive’ to travel nowAmericans are planning 2.3 trips this summer, down from 3.1 trips from the summer of…
In this photo illustration, the OpenAI logo is displayed on a mobile phone screen with a photo of Sam Altman, CEO of OpenAI.Didem Mente | Anadolu | Getty ImagesOpenAI is in talks to raise a funding round that would value the artificial intelligence startup at more than $100 billion, CNBC has learned.Thrive Capital is leading the round and will invest $1 billion, according to a source with knowledge of the matter who asked not to be named because the details are confidential.Earlier this year, OpenAI was valued at a reported $80 billion from $29 billion the prior year. Annualized revenue…
The Uber company logo is seen in the Falchi Building on June 26, 2024 in New York City.Michael M. Santiago | Getty ImagesUber Technologies’ CEO on Friday expressed commitment to the South Korean market, where it is an underdog to local tech group Kakao, and said the platform will attract more taxi drivers for growth.”The fact is that a taxi driver who uses the Uber app will make more money, will be more busy,” Uber CEO Dara Khosrowshahi told reporters in Seoul.”We are growing significantly faster than the market, and we’re confident that our market share will only grow from here.”Kakao has a more than 90% market share of taxi-hailing, estimated based…
Check out the companies making headlines in midday trading: Super Micro Computer — Shares shed 19.1% after the artificial intelligence server company said it would postpone filing its annual 10-K form for the fiscal year that ended June 30. Super Micro Computer said its management requires more time to “complete its assessment of the design and operating effectiveness of its internal controls over financial reporting.” Hindenburg Research revealed a short position in the stock Tuesday. Neurocrine Biosciences — The biopharmaceutical stock plummeted nearly 19%. The company reported positive top-line Phase 2 data for its drug targeting schizophrenia in adults, but…
A sigh of relief is in order. Salesforce shares jumped more than 4% in extended trading Wednesday after the enterprise software giant beat sales and earnings expectations in the second quarter. The company may have maintained its full-year revenue outlook, but that was taken as good enough after last quarter’s debacle. Plus, an increase to its margin forecast showed Salesforce remains committed to profitable growth. Revenue increased 8% year over year to $9.33 billion in the quarter, beating the $9.23 billion expected by analysts, according to estimates compiled by LSEG. Adjusted earnings per share of $2.56 increased 21% on an…
You’ve heard it on the Street — and seen it in the streets. Young consumers are increasingly opting for New Balance sneakers or Adidas Sambas, according to Stifel Financial. That could be the latest hit to struggling Nike shares, according to the investment bank. Nike still reigns supreme and carries the most popular shoe with its Dunk, said analyst Jim Duffy. But he said other areas of Nike’s shoe business are eroding — and chipping away at its market share. Meanwhile, competitors offering bold alternatives are seeing momentum. Stifel’s back-to-school survey shows “consumers embracing newness across a range of trends…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailJohn Stoltzfus, Oppenheimer Asset Management, joins ‘Fast Money’ to talk today’s Fed speak, the impact of possible cuts on the markets and more.04:50Fri, Aug 23 20246:13 PM EDT Source link
