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Nvidia

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616 stories mentioning NvidiaUpdated 9h ago

Rallied as tech and semiconductor stocks jumped, with the Philadelphia Semiconductor Index climbing 5.4% amid the broad market rally.

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Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.2%.The Philadelphia Semiconductor index shed 2.2%.In corporate news, GoPro (GPRO) shares surged 42% after the company and optical-photonics company Starman Optical said Tuesday they have signed a definitive merger agreement. Under the terms of the deal, GoPro shareholders will receive $1.14 per share, for a total of $285 million in cash and will retain a stake in the combined company of about 10%.Amazon-backed (AMZN) Anthropic has agreed to a $35 billion computing deal with Nvidia-backed (NVDA) cloud provider Lambda, Bloomberg reported. The project involves a Texas data center being developed by Hut 8 (HUT), with Nvidia holding the lease, the report said. Amazon shares were down 2.2%, and Nvidia was shedding 1.7%.Apple (AAPL) is continuing to reshape its leadership ranks as John Ternus begins his tenure as chief executive officer, with longtime executive Luca Maestri stepping away from his corporate services responsibilities, Bloomberg reported. Maestri's duties, including information technology, information security and corporate real estate, have been assumed by Chief Financial Officer Kevan Parekh, according to Apple's updated management biographies, the report said. Apple shares were up 2.7%.Duolingo (DUOL) shares jumped 7% after Evercore ISI upgraded the stock to outperform from in-line and raised its price target to $210 from $105.

$AAPL$AMZN$DUOL$GPRO$NVDA
Wire

CrowdStrike Launches SafeMind Cybersecurity Models for Falcon Platform

CrowdStrike (CRWD) said Tuesday it has launched the SafeMind suite of cybersecurity threat detection models within its Falcon platform, with plans to integrate standalone assets into its Project QuiltWorks initiative.The artificial intelligence system utilizes the Red Tempest offensive engine to locate network vulnerabilities and the Blue Solano defensive framework to mitigate them through a continuous feedback loop, the company said.CrowdStrike said it built the architecture using Nvidia (NVDA) Nemotron open models alongside cloud computing infrastructure from CoreWeave (CRWV).Price: $214.96, Change: $-16.04, Percent Change: -6.94%

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Sectors

Sector Update: Tech Stocks Fall Tuesday Afternoon

Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.6%.The Philadelphia Semiconductor index shed 2.3%.In corporate news, GoPro (GPRO) shares surged 41% after the company and optical-photonics company Starman Optical said Tuesday they have signed a definitive merger agreement. Under the terms of the deal, GoPro shareholders will receive $1.14 per share, for a total of $285 million in cash and will retain a stake in the combined company of about 10%.Amazon-backed (AMZN) Anthropic has agreed to a $35 billion computing deal with Nvidia-backed (NVDA) cloud provider Lambda, Bloomberg reported. The project involves a Texas data center being developed by Hut 8 (HUT), with Nvidia holding the lease, the report said. Amazon shares were down 2%, and Nvidia was shedding 1%.SpaceX (SPCX) has replaced several leaders responsible for building the company's data centers following some civil engineering concerns and reliability issues at facilities in Tennessee and Mississippi, The Information reported. SpaceX shares were down 0.5%.

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Wire

Top Midday Stories: Anthropic Reportedly Agrees to $35 Billion Computing Deal With Lambda; GoPro to Merge With Starman Optical

All three major US stock indexes were down in late-morning trading Tuesday, as bond yields in the US and around the world rose in response to rising oil prices and inflation concerns.In company news, Amazon-backed (AMZN) Anthropic has agreed to a $35 billion computing deal with Nvidia-backed (NVDA) cloud provider Lambda, Bloomberg reported Monday, citing a person familiar with the matter. The project involves a Texas data center being developed by Hut 8, with Nvidia holding the lease, the report said. Amazon shares were down 2.0% around midday, while Nvidia shares were down 1.0%.GoPro (GPRO) and optical-photonics company Starman Optical said Tuesday they have signed a definitive merger agreement. Under the terms of the deal, GoPro shareholders will receive $1.14 per share, for a total of $285 million in cash and will retain a stake in the combined company of about 10%. GoPro's roughly $92 million of outstanding debt will be repaid in full at closing, the companies said. GoPro shares were up 43.8%.Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported Tuesday, citing people familiar with the matter. The two fields are located in the Carabobo region, which holds billions of barrels of heavy oil reserves, and are near a big field already operated by Chevron's PetroIndependencia joint venture with state-owned Petroleos de Venezuela, the report said, citing the people. Chevron shares were up 1.5%.Medtronic (MDT) reported fiscal Q1 adjusted earnings Tuesday of $1.45 per share, up from $1.26 a year earlier and above the FactSet consensus analyst estimate of $1.39. Fiscal Q1 revenue was $9.76 billion, up from $8.58 billion a year ago and above the FactSet consensus of $9.55 billion. For fiscal 2027, the company expects adjusted EPS of $5.94 to $6, compared with its previous guidance range of $5.90 to $6 and the FactSet consensus of $5.95. Separately, Medtronic said it formed a partnership with Cornerstone Robotics through which it will invest $700 million. Lastly, Medtronic will invest up to $80 million in Pi-Cardia and retain an option to acquire the company for up to $210 million if certain milestones are met, the companies said Tuesday. Medtronic shares were up 1.7%.Fervo Energy (FRVO) has signed a 396-megawatt power purchase agreement with Alphabet's (GOOG, GOOGL) Google, the company said Tuesday. Under the terms of the agreement, Google will buy energy from Fervo Energy's Cape Station geothermal project to power a potential data center in Utah, Fervo said. The agreement includes an option for Google to expand its offtake by about 600 megawatts by June 2030, the company said. Fervo shares were up 23.8%, while Google's Class C and Class A shares were down 0.7% and 0.9%, respectively.SpaceX (SPCX) has replaced several leaders responsible for building the company's data centers following some civil engineering concerns and reliability issues at facilities in Tennessee and Mississippi, The Information reported Tuesday, citing people familiar with the matter. The company has installed executives from its rocket and satellite internet businesses to oversee data center operations, the report said, citing the people. SpaceX shares were up 0.3%.Price: $1.25, Change: $+0.37, Percent Change: +42.78%

$AMZN$CVX$FRVO$GOOG$GOOGL$GPRO$MDT$NVDA$SPCX
Asia Markets

Update: US Equity Futures Fall Pre-Bell Tuesday as Global Bond Yields, Oil Prices Rise

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Tuesday as concerns about inflation and higher oil prices lifted global bond yields while technology-related stocks slipped.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 1.2% lower.The US 10-year Treasury note yield reached a 20-month high, rising 3 basis points to trade at 4.7880%, while borrowing costs in Japan and the UK attained multi-decade highs.Traders digested the latest round of earnings, with Medtronic (MDT) posting higher fiscal Q1 adjusted earnings and revenue.Palo Alto Networks (PANW) is expected to report its fiscal Q4 results after the market closes. Analysts polled by FactSet expect earnings of $0.98 per share on revenue of $3.35 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.8% at $92.65 per barrel and US West Texas Intermediate crude 2.8% higher at $88.16 per barrel.The final S&P Global manufacturing purchasing managers index for August, due at 9:45 am ET, is seen at 53.4, up from its prior value of 53.2, according to estimates compiled by Bloomberg.The August Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 55.2, down from 55.6 in the previous month. July job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.313 million, compared with 7.359 million in the prior month. The July construction spending report is also due at 10 am ET.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Amazon (AMZN), and Micron Technology (MU) were all down as part of a wider downswing in the technology sector. Nvidia shares dropped 1.5%, Amazon stock was 1.6% lower, and Micron Technology shares were down 2.3%.On the winning side, Medtronic stock was up 2.5% after the company's fiscal Q1 adjusted earnings and revenue surpassed analysts' consensus. Novartis (NVS) shares rose 5.9% after the company said that phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis. Sony Group (SONY) stock was 2% higher after a Nikkei Asia report that the company's semiconductor division will build an artificial intelligence model for facility maintenance with Saudi Aramco.

Dow JonesNasdaq CompositeS&P 500$AMZN$MDT$MU$NVDA$NVS$PANW$SONY
Equities

Social Buzz: Wallstreetbets Stocks Decline Premarket Tuesday; Sandisk, Micron Technology to Open Lower

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly lower hours before Tuesday's opening bell.Sandisk (SNDK) fell by 3% pre-bell, following a 5.5% rise at Monday's close.Micron Technology (MU) declined by 1.8% hours before market open, after a 2.8% increase from the previous session.Tesla (TSLA) was 1.1% lower premarket, swinging from a 5.5% increase at Monday's close.Nvidia (NVDA) declined by 1.2% in pre-bell activity, after a 1.5% rise from Monday's session.Meta Platforms (META) was 0.9% lower premarket, after closing Monday with a 1% decline.Amazon.com (AMZN) was down 0.8% in premarket hours, following a 2.5% fall from the previous session.Alphabet (GOOG) fell by 0.5% pre-bell, after closing Monday with a 2.2% decline.DTE Energy (DTE) declined by 0.3% in premarket activity, after a 0.2% decline at Monday's close.

$AMZN$DTE$GOOG$META$MU$NVDA$SNDK$TSLA
Wire

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) adding 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.6%.The Philadelphia Semiconductor Index increased 0.5%.In corporate news, Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale AI chips. Nvidia shares were up 1.4%.Apple (AAPL) executive Phil Schiller stepped down from his role overseeing the App Store and Apple product events, Bloomberg reported. Schiller maintains his Apple Fellow title and will be working on unspecified initiatives, the report said. Apple is shifting responsibility for the App Store to the services division run by executive Eddy Cue, the report added. Apple shares were down 1%.Science Applications International (SAIC) raised its fiscal 2027 outlook on Monday as its Q2 results topped Wall Street's expectations amid organic growth. Its shares rose 1%.Arm (ARM) is facing a potential shareholder revolt over its plans to award its Chief Executive Rene Haas an "excessive" bonus of up to $800 million, the Telegraph reported Monday. Advisory firms Institutional Shareholder Services and Glass Lewis have recommended investors to vote against a scheme that would reward the CEO if he turns Arm into Britain's first trillion-dollar company, according to the report. Arm shares were up 1.3%.

$AAPL$ARM$NVDA$SAIC
Sectors

Sector Update: Tech Stocks Edge Lower Monday Afternoon

Tech stocks were slightly lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) and the State Street SPDR S&P Semiconductor ETF (XSD) fractionally lower.The Philadelphia Semiconductor index increased 0.1%.In corporate news, Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale AI chips. Nvidia shares were up 0.8%.Apple (AAPL) executive Phil Schiller stepped down from his role overseeing the App Store and Apple product events, Bloomberg reported. Schiller maintains his Apple Fellow title and will be working on unspecified initiatives, the report said. Apple is shifting responsibility for the App Store to the services division run by executive Eddy Cue, the report said. Apple shares were down 1.9%.Microsoft-backed (MSFT) OpenAI's ChatGPT Ads has reached $1 billion in annualized revenue run rate, the company said Monday. Advertisers can buy ChatGPT ads directly via Ads Manager in India, Europe, the Middle East and North Africa, effective Monday, the company said. Microsoft shares were shedding 0.6%.

$AAPL$MSFT$NVDA
Sectors

Sector Update: Tech

Tech stocks were slightly higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) fractionally higher.The Philadelphia Semiconductor index added 0.3%.In corporate news, Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale AI chips. Nvidia shares were up 1.1%.

$NVDA
Wire

Top Midday Stories: Stocks Fall, Oil Rises Amid Renewed Fighting in Middle East; Utility Shares Fall After California Wildfire Legislation

All three major US stock indexes were down in late-morning trading Monday, after Fox News reported that President Donald Trump said the US will respond to an Iranian attack on US forces overnight in Jordan.In company news, Shares of PG&E (PCG), Edison International (EIX) and Sempra (SRE) fell Monday after the state of California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday. The legislature rejected provisions in Senate Bill 492 that would limit the amount of money people could recover. The amended bill also doesn't limit local governments and private businesses from recovering losses from utilities that start fires, according to the report. PG&E shares were down 19.5% around midday, while Edison and Sempra shares were down 23.0% and 2.5%, respectively.Nvidia (NVDA) has invested $3.5 billion in MediaTek convertible bonds as part of a deepening partnership to build next-generation artificial intelligence computing platforms across AI infrastructure, local AI computing and automotive, the companies said Monday in a joint statement. Nvidia shares were up 1%.Apollo Global Management-managed (APO) funds have agreed to sell cooling systems company Kelvion to SLB (SLB) for $3.4 billion in cash, with SLB assuming about $700 million of debt as well, the companies said Monday. Apollo shares were up 1.4%, while SLB shares were up 2.2%.Eli Lilly (LLY) said Monday it has agreed to acquire Merida Biosciences for up to $2.88 billion in cash, including upfront and milestone payments, to expand its pipeline of treatments for autoimmune and allergic diseases. The deal is expected to close in Q4, subject to regulatory approvals and other customary closing conditions, Lilly said. Shares of Eli Lilly were down 1.4%.Oneok (OKE) said Sunday it has agreed to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing facilities for about $4.43 billion. The deal will be funded via a $9 billion non-voting minority equity investment from funds and affiliates managed by Apollo, the company said. Oneok shares were up 0.5%.SpaceX (SPCX) and NASA are delaying their launch date for the Crew-13 manned mission to the International Space Station in order to address an oxidizer leak on the propulsion system of the Dragon spacecraft, the space agency said Saturday. Separately, SpaceX is developing a foundry in Bastrop, Texas, to make blades and vanes for large gas turbines, The Information reported Saturday, citing job listings and other indicators. SpaceX shares were up 1%.Aon (AON) has agreed to acquire USI Insurance Services from KKR (KKR) and other shareholders for $17 billion, the companies said Monday. The boards of Aon and USI have approved the deal, which is expected to close in Q4 and will generate about $3.3 billion of after-tax proceeds for KKR. Aon shares were down 7%, while KKR shares were up 1.5%.Price: $219.81, Change: $+2.26, Percent Change: +1.04%

$AON$APO$EIX$KKR$LLY$NVDA$OKE$PCG$SLB$SPCX$SRE
Nvidia Investing $3.5 Billion in MediaTek, Partners on NVLink Fusion Platform
US Markets

Nvidia Investing $3.5 Billion in MediaTek, Partners on NVLink Fusion Platform

Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips.Under the deal, Nvidia bought $3.5 billion convertible bonds issued by MediaTek, and the Taiwan-based fabless chipmaker will adopt the NVLink Fusion platform, which provides chipmakers with prevalidated connectors and specialized memory to integrate custom AI accelerators directly into Nvidia's rack-scale data center systems."MediaTek is one of the world's great semiconductor companies, with exceptional expertise in system-on-chip design, connectivity, leading performance and power efficiency," Nvidia Chief Executive Jensen Huang said. "Together, we're building platforms that bring Nvidia accelerated computing to new markets and give customers the freedom to create differentiated AI systems at enormous scale.""Nvidia's investment strengthens a collaboration that spans cloud AI infrastructure, local AI computing and automotive in the era of physical AI," MediaTek CEO Rick Tsai said.Last week, Nvidia reported fiscal second-quarter results that more than doubled from a year ago and topped Wall Street expectations, driven by record data center sales. Morgan Stanley said the chipmaking giant offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs.Separately, Nvidia announced an expanded partnership with Amazon.com's (AMZN) Amazon Web Services to supply 2 million additional GPUs across AWS infrastructure in 2027 and 2028, and build dedicated 100,000-GPU AI factories for federal security workloads.Earlier in August, Nvidia said it was collaborating with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital to support its AI infrastructure. Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BAM), Goldman Sachs (GS) and KKR (KKR) were part of the partnership.Previously, Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative.Nvidia's shares were up 1.1% Monday and have gained 18% this year.Chip designer Marvell Technology (MRVL) reported late last week second-quarter results above Wall Street's estimates amid a surge in data center revenue. B. Riley Securities said the company's fiscal third-quarter gross margin outlook came in a bit soft amid a higher custom product mix.Semiconductor manufacturer Broadcom (AVGO) is scheduled to report its fiscal third-quarter results Wednesday.Price: $220.40, Change: $+2.85, Percent Change: +1.31%

$AMZN$APO$AVGO$BAM$BLK$BX$GS$KKR$MRVL$NVDA
Wire

Broadcom Says AI Models From Google, Nvidia, Alibaba Cloud Validated to Run on VMware Cloud Foundation

Broadcom (AVGO) said Monday that artificial intelligence models from providers including Alphabet's (GOOGL, GOOG) Google, Nvidia (NVDA), Alibaba's (BABA) Alibaba Cloud and others, are validated to run on VMware Cloud Foundation.VMware Cloud Foundation provides an AI and Kubernetes-native platform that gives organizations across industries a production-ready path to deploy a variety of AI models, the company said.Price: $369.36, Change: $+0.57, Percent Change: +0.15%

$AVGO$BABA$GOOG$GOOGL$NVDA
Marvell Technology Issues Soft Quarterly Gross Margin Outlook on Greater Custom Mix, B. Riley Says
US Markets

Marvell Technology Issues Soft Quarterly Gross Margin Outlook on Greater Custom Mix, B. Riley Says

Marvell Technology's (MRVL) fiscal third-quarter gross margin outlook came in a bit soft amid a higher custom product mix, following "solid" results for its just-concluded quarter, B. Riley Securities said in a note e-mailed Friday.Late Thursday, the chip designer's second-quarter results rose above Wall Street's estimates amid a surge in data center revenue. For the ongoing quarter, the company expects non-GAAP gross margin between 57.5% and 58.5% versus 58.9% reported for the prior quarter."Revenue levels and product mix remain key determinants of gross margin in any given quarter, with the forecasted acceleration of our custom business creating the sequential headwind in the fiscal third quarter," Marvell Technology Chief Financial Officer Dan Durn said on an earnings conference call, according to a FactSet transcript.The company expects to maintain fourth-quarter gross margin "in this range," Durn said.The third-quarter gross margin outlook was below B. Riley's estimates amid "greater custom mix," analyst Craig Ellis said in a note to clients. "Overall, a solid (second) quarter in our view, with the diversifying data center base led by interconnect strength."Gross margin for the second half of fiscal 2027 is likely "a little below" on mix, while operating expenditures are a little higher on growth investments for Amazon (AMZN) Web Services Trainium, Alphabet's (GOOG, GOOGL) Google XPU, and Nvidia (NVDA) NVLink Fusion deals, Ellis said."While (operating margins) should still strongly enter the 38%-to-40% range in (the fourth quarter), that's a little below our prior forecast given (gross margin) action," the analyst wrote.B. Riley lowered its price target on the Marvell Technology stock to $315 from $345, with a buy rating.The company's shares were down 9.9% in Friday late-afternoon trade. The stock has jumped about 156% so far this year."We believe investors will get much more of the long-term growth outlook they'd like in six weeks at analyst day, with the model now defensively set on (gross margin) and OpEx," Ellis said. "We thus see a buy-the-dip opportunity, though acknowledged shares could trade sideways or even a bit lower into early (fourth quarter)."Earlier in the week, Morgan Stanley said chipmaking giant Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs.Semiconductor manufacturer Broadcom (AVGO) is scheduled to report its fiscal third-quarter results Wednesday."Overall, (Marvell Technology's) leverage is dented a bit near term as large customer programs get going, though longer-term growth and EPS seem strongly on track to what could be $10 to $11 in (2029 EPS), and much greater thereafter," Ellis said.Price: $217.54, Change: $-23.91, Percent Change: -9.90%

$AMZN$AVGO$GOOG$GOOGL$MRVL$NVDA
Asia Markets

Tech Strength Undergirds Asian Stock Markets

Asian stock markets churned modestly higher Friday, after the upbeat earnings report from Nvidia (NVDA) late Wednesday helped New York exchanges rally overnight.Hong Kong and Tokyo finished in the green, while Shanghai edged lower. Other regional exchanges were mixed on the high side.Brent crude oil futures traded down 0.3% to $88.28 during Asian market hours.In Japan, the Nikkei 225 opened higher on Wall Street cues and held ground, finishing up 0.4% as traders gravitated back to tech shares.The benchmark Nikkei 225 rose 273.58 to 66,405.56, as gaining issues outnumbered losers 149 to 71.Leading the upside was cyber-security outfit Trend Micro, while memory-chip manufacturer Kioxia declined 8.8%.In economic news, Japan's unemployment rate logged at 2.4% in July, down from 2.5% in June, reported the Ministry of Internal Affairs & Communications.Tokyo's consumer price index-core (CPI-core), that strips out fresh food prices, rose 1.8% on year in August, after a 1.7% on-year gain in July, reported the Statistics Bureau of Japan.In Hong Kong, the Hang Seng Index opened evenly and eked out a small gain, closing up 0.1%, despite soft tech and property issues.The broad gauge Hang Seng rose 19.05 to 25,584.79, although losing issues outnumbered gainers 50 to 39. The Hang Seng TECH Index lost 0.3% on the day, while the Mainland Properties Index fell 1%.Leading the upside was BYD Electronic, gaining 6.3%, while shipping line Orient Overseas declined 8.7%.On the mainland, the Shanghai Composite fell 0.1% to 3,952.18.On the other regional exchanges, the S. Korean KOSPI fell 1.8%; the Taiwan TWSE inclined 0.7%; the Australian ASX 200 inclined 0.6%; the Singapore Straits Times Index rose 0.3%, and the Thai Set declined 0.8%. In late trading in Mumbai, the Sensex was up 0.3%.The MSCI All Country Asia Pacific Index rose 0.2% on the day.

Hang SengNikkei 225Shanghai Composite$NVDA
Asia Markets

Update: US Equity Indexes Rise as Nvidia's Blockbuster Guidance Helps Technology Offset Declines in Remaining Sectors

(Updates with index/price moves, macroeconomic data and analyst comments from the first paragraph.)US equity indexes advanced after Nvidia's (NVDA) strong fiscal Q2 results boosted mega-caps in the technology sector, helping outweigh declines in every other peer group.The Nasdaq Composite jumped 1.6% to 26,541.35, the S&P 500 climbed 0.7% to 7,730.99, and the Dow Jones Industrial Average edged up 0.2% to 53,569.44 on Thursday. All sectors, except technology, declined. Consumer staples, healthcare and consumer discretionary were among the worst performers.Shares of Nvidia jumped 8.7%, among the top gainers across all three mainstream indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier and its Q3 sales outlook beat estimates. Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.Salesforce (CRM) surged 23%, the lead on the S&P 500 and the Dow, after the company posted higher fiscal Q2 adjusted earnings and sales, and lifted fiscal 2027 guidance.CrowdStrike (CRWD) soared 20%, one of the biggest gainers in the S&P 500 and Nasdaq, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its full-year net new annual recurring revenue outlook. This is a "blowout quarter as AI demand inflects across the platform," according to a Truist Securities note.Among companies with market capitalizations exceeding $200 billion each, nine of the top 10 names by daily returns were in the technology sector, with Salesforce leading the pack, according to data compiled by Finviz.Qatar's foreign ministry said Iran and Doha discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.Iran's security chief, Mohsen Rezaei, said the "US must first take practical steps to fulfil Iran's conditions, and then Iran will proceed to open the Strait of Hormuz", according to Al Jazeera, which cited a report from the Islamic Republic News Agency. The former Islamic Revolutionary Guard Corps commander reiterated previous pledges by Tehran that if Washington "starts any evil", Iran would "bring disaster to its military and economic interests".The front-month US West Texas Intermediate crude oil contract climbed 1.7% to $83.66 per barrel, and global benchmark North Sea Brent jumped 2.2% to $89.77 per barrel.In economic news, the advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau, surpassing the $100.5 billion deficit expected in a survey compiled by Bloomberg.US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, versus expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.Most US Treasury yields edged up on Thursday. The 10-year yield inched up by less than one basis point to 4.67%, and the two-year was little changed at 4.23%.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$NVDA
Marvell Technology Tops Second-Quarter Expectations on Data Center Revenue Surge
US Markets

Marvell Technology Tops Second-Quarter Expectations on Data Center Revenue Surge

Marvell Technology's (MRVL) second-quarter results rose above Wall Street's estimates amid a surge in data center revenue, while the chip designer expects artificial intelligence to drive revenue acceleration through fiscal 2028.Revenue climbed 37% annually to $2.74 billion, exceeding the FactSet-polled consensus of $2.72 billion. Non-GAAP earnings per share increased to $0.94 in the three months ended Aug. 1 from $0.67 a year earlier. Analysts expected $0.93.Data center revenue jumped 46% annually to $2.17 billion, while Street's view was $2.16 billion.The "communications and other" division grew to $567.8 million from $515.6 million. Analysts expected $559 million."AI-related bookings remain exceptionally robust, and we expect our revenue growth to accelerate further through the remainder of fiscal 2027," Chief Executive Matt Murphy said in a statement. "Given this strength, we are again raising our revenue outlook for both fiscal 2027 and fiscal 2028 compared with the guidance we provided last quarter."Marvell didn't provide an updated outlook for fiscal 2027 and 2028 in its second-quarter earnings release.In May, the company projected revenue growth of 40% and 45% year over year in fiscal 2027 and 2028, respectively. Analysts expect sales growth of 41% in fiscal 2027 and 46% in 2028."We are seeing broad-based strength across our data center portfolio, including strong demand in connectivity and a significant acceleration in our custom business beginning in the second half of fiscal 2027," Murphy said.For the fiscal third quarter, Marvell expects net revenue of $3.15 billion, plus or minus 5%. Wall Street expects $3.04 billion. The company forecasts non-GAAP earnings at $1.10 per share, plus or minus $0.05, compared with analysts' consensus of $1.08.The company's shares were down 1.3% in after-hours trading, and had gained about 184% this year through Thursday close.Oppenheimer expected the company to provide an upbeat third-quarter outlook after exceeding second-quarter expectations amid growing customer wins, according to a note sent last Friday.Marvell entered into a deal last week that would allow Alphabet's (GOOG, GOOGL) Google to purchase up to $12.18 billion of Marvell shares.UBS Securities recently raised its second-quarter estimates on Marvell, citing accelerated AI spending by major hyperscalers and strong demand for optical and networking products.Nvidia (NVDA) offered a surprisingly strong fiscal 2028 revenue outlook late Wednesday, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note. The chip giant's fiscal second-quarter results more than doubled from a year ago and topped Wall Street expectations amid record data center sales.Semiconductor manufacturer Broadcom (AVGO) is scheduled to report fiscal third-quarter results Sept. 2.

$AVGO$GOOG$GOOGL$MRVL$NVDA
Update: Nasdaq Logs Best Day in More Than 3 Weeks as Nvidia Gains
US Markets

Update: Nasdaq Logs Best Day in More Than 3 Weeks as Nvidia Gains

(Updates with market moves at the end of the day, and other changes, if any.)The Nasdaq Composite rose the most in more than three weeks on Thursday as post-earnings rallies in shares of Nvidia (NVDA) and other technology players helped lift sentiment on Wall Street.The tech-heavy index closed 1.6% higher at 26,541.35, logging its biggest single-day percentage gain since Aug. 4. The S&P 500 climbed 0.7% to 7,730.99, while the Dow Jones Industrial Average advanced 0.2% to 53,569.44.Tech was the only sector that ended in the green, up 3.4%, while consumer staples saw the steepest decline.Nvidia shares jumped 8.7%, the second-biggest gain on the Dow, as the tech bellwether's fiscal second-quarter results more than doubled from a year earlier and topped Wall Street's expectations late Wednesday amid record data center sales.Nvidia expects fiscal 2028 revenue to grow about 70% year over year. That, according to Morgan Stanley, was a surprisingly strong sales outlook.Salesforce (CRM) shares soared nearly 23%, the best performer on both the S&P 500 and the Dow. The customer relationship management platform late Wednesday increased its full-year revenue guidance after delivering a fiscal second-quarter beat.CrowdStrike (CRWD) surged nearly 21%, the second-biggest rise on the S&P 500. The company late Wednesday raised its full-year annual recurring revenue outlook amid increasing demand for cybersecurity solutions. CrowdStrike reported better-than-expected fiscal second-quarter results.Hormel Foods (HRL) was the worst performer on the S&P 500, down 10%. The company lowered its fiscal 2026 sales outlook as it reported mixed third-quarter results, with the top-line pressured amid a challenging consumer environment.US Treasury yields were little changed, with the two- and 10-year yields at 4.23% and 4.67%, respectively.The annual economic policy symposium at Jackson Hole, Wyoming, kicked off Thursday, with Federal Reserve Chair Kevin Warsh slated to speak Friday morning.Cleveland Fed President Beth Hammack said in a CNBC interview Thursday that the Federal Open Market Committee should act now to cool inflation.Hammack was one of the three regional Fed presidents who dissented on the FOMC's decision to keep interest rates steady last month. All three called for a rate hike of 25 basis points.Markets are currently pricing in a 66% probability that the FOMC will keep the benchmark lending rate steady next month, with the remaining odds in favor of a 25-basis-point increase, according to the CME FedWatch tool.West Texas Intermediate crude oil rose 1.8% to $83.69 a barrel in Thursday late-afternoon trade, while Brent advanced 2.2% to $89.75.Iran and Oman are working on finalizing a deal that will see both countries share control of the Strait of Hormuz, Reuters reported.Spot gold edged up 0.3% to $4,605.11 per troy ounce, while silver gained 2% to $70.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$HRL$NVDA
Japan

US Equity Markets End Higher After Technology Sector Gains Following Nvidia Results

US equity indexes ended higher Thursday after the technology sector saw gains led by Nvidia's (NVDA) Q2 results.* Nvidia shares were up about 8.7%, among the top gainers across all three main indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier, and Q3 sales outlook beat estimates.* Qatar's foreign ministry said it is in discussions with Iran over an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," Al Jazeera reported.* US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.* October West Texas Intermediate crude oil rose $1.44 to settle at $83.67 per barrel, while October Brent crude, the global benchmark, was last seen up $1.90 at $89.74.* Salesforce (CRM) shares were up roughly 23%, the top gainer on the S&P 500 and the Dow, after the company reported higher fiscal Q2 adjusted earnings and revenue, and lifted its fiscal 2027 outlook.* Hormel Foods (HRL) shares were down nearly 10%, the worst performer on the S&P 500, after the company lowered its fiscal 2026 sales outlook and reported mixed Q3 results with sales falling amid soft consumer demand.

Dow JonesNasdaq CompositeS&P 500$CRM$HRL$NVDA
Japan

Update: Technology Pushes US Equity Indexes Higher Following Nvidia's Blockbuster Guidance

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes advanced after Nvidia's (NVDA) strong fiscal Q2 results boosted mega-caps in the technology sector.The Nasdaq Composite jumped 1.3% to 26,466.9, the S&P 500 climbed 0.6% to 7,719.3, and the Dow Jones Industrial Average edged up 0.1% to 53,542.5 ahead of Thursday's close. All sectors, except technology, declined. Consumer staples and consumer discretionary were among the worst performers.Shares of Nvidia jumped past 8%, among the top gainers across all three mainstream indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier and Q3 sales outlook beat estimates. Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.Salesforce (CRM) surged 23%, the leader on the S&P 500 and the Dow, after the company posted higher fiscal Q2 adjusted earnings and sales, and lifted fiscal 2027 guidance.CrowdStrike (CRWD) soared 20%, one of the biggest gainers in the S&P 500 and Nasdaq, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its full-year net new annual recurring revenue outlook. This is a "blowout quarter as AI demand inflects across the platform," according to a Truist Securities note.Qatar's foreign ministry said Iran and Doha discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.Iran's security chief, Mohsen Rezaei, said the "US must first take practical steps to fulfil Iran's conditions, and then Iran will proceed to open the Strait of Hormuz", Al Jazeera cited a report from the Islamic Republic News Agency. The former Islamic Revolutionary Guard Corps commander reiterated previous pledges by Tehran that if Washington "starts any evil", Iran would "bring disaster to its military and economic interests".The front-month US West Texas Intermediate crude oil contract climbed 2.1% to $83.93 per barrel, and global benchmark North Sea Brent jumped 2.6% to $90.11 per barrel.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$NVDA
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.4%.The Philadelphia Semiconductor index climbed 1.6%.In sector news, progress on the creation of a self-regulatory organization for AI companies has stalled within the Trump administration, The Information reported. A draft executive order on the subject has circulated in recent weeks, but it still needs buy-in from a number of senior officials, including the president, the report said.Separately, the Trump administration is considering sweeping new tariffs on semiconductors that could extend to products containing chips, including laptops, gaming consoles and data center servers, Politico reported. Commerce Secretary Howard Lutnick favors tying tariff relief to companies' investments in US chip manufacturing, according to Politico sources. The administration is also considering a phase-in period, while tariff rates and other details remain unsettled, the report said.In corporate news, Nvidia (NVDA) shares jumped past 8% after it posted fiscal Q2 earnings and revenue that more than doubled from a year earlier, and issued a fiscal Q3 revenue forecast above analysts' expectations.CrowdStrike (CRWD) shares popped 19% after it reported higher fiscal Q2 adjusted earnings and revenue, and raised its fiscal 2027 revenue outlook.Salesforce (CRM) shares surged 23% after it reported a fiscal Q2 beat and boosted fiscal 2027 guidance.Meta Platforms (META) at one point this year internally projected it could spend up to $10 billion annually on Amazon-backed (AMZN) Anthropic's AI models, The New York Times reported. Meta's business would have formed a significant portion of Anthropic's annual revenue, which the company estimated in July would pass $65 billion, the report said. Meta shares were down 1.2%, and Amazon was shedding 1.7%.

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