Nvidia Gains, Walmart Rises, Bath & Body Works Slumps After Cutting Outlook
On this episode of Stock Movers:- Nvidia (NVDA) shares rise after the company delivered a strong revenue forecast, expecting sales of about $65 billion in the January quarter, and pushed back on the idea that the AI industry is in a bubble.- Walmart (WMT) shares gain after the company raised its full-year sales and profit outlook, citing its ability to win over price-sensitive shoppers while absorbing rising costs. The company's net sales are now expected to rise 4.8% to 5.1%, driven by strong e-commerce performance and a wide assortment of products, including luxury items like pre-owned Chanel bags.- Bath & Body Works (BBWI) shares slumped after cutting its full-year outlook and announcing a turnaround plan to refocus the home products retailer on its core business. The company will exit some categories, including men’s grooming and hair care, and launch its own brand page on Amazon.com Inc.’s webstore under the new transformation plan named the Consumer First Formula.See omnystudio.com/listener for privacy information.
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Nvidia Rises, Bath & Body Works Slumps, Verizon Drops on Layoffs
On this episode of Stock Movers:- Nvidia (NVDA) shares rise after the company delivered a strong revenue forecast, expecting sales of about $65 billion in the January quarter, and pushed back on the idea that the AI industry is in a bubble.- Bath & Body Works (BBWI) shares slumped after cutting its full-year outlook and announcing a turnaround plan to refocus the home products retailer on its core business. The company will exit some categories, including men’s grooming and hair care, and launch its own brand page on Amazon.com Inc.’s webstore under the new transformation plan named the Consumer First Formula.- Verizon (VZ) shares drop after the company announced wide-ranging layoffs Thursday morning that will shrink the company by as much as 20% of its non-union workforce, a major step in a turnaround plan led by new Chief Executive Officer Dan Schulman.See omnystudio.com/listener for privacy information.
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Nvidia Eases AI Bubble Concerns; Walmart Rallies Post-Earnings; Bath & Body Works Plummets
On this episode of Stock Movers:- Nvidia (NVDA) rallied in the premarket session after the company delivered a surprisingly strong revenue forecast and pushed back on the idea that the AI industry is in a bubble, easing concerns that had spread across the tech sector. The world’s most valuable company expects sales of about $65 billion in the January quarter — roughly $3 billion more than analysts predicted. Nvidia also said that a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated. The outlook signals that demand remains robust for Nvidia’s artificial intelligence accelerators, the pricey and powerful chips used to develop AI models. Nvidia had faced growing fears in recent weeks that the runaway spending on such equipment wasn’t sustainable.- Shares of Walmart (WMT) rallied in early trading after the company increased its outlook for sales in the full year, a sign the world’s biggest retailer is winning over price-sensitive shoppers while digesting costs it expects to rise in the coming months. The company now sees net sales rising 4.8% to 5.1%, higher than its previous projection in August. It marks a second increase in forecast during the fiscal year. The results are likely to alleviate some concerns that consumers are pulling back amid a cooling job market, corporate layoffs and rising prices. Rival big-box chains have warned that consumers remain cautious, increasing attention on the world’s largest retailer as it prepares to enter its next chapter under a new chief executive officer next year.- Shares of Bath & Body Works (BBWI) plummeted ahead of the US market open after the company cut its full-year outlook and announced a turnaround plan to refocus the home products retailer on its core business. The company’s previous strategy was aligned to drive incremental growth but led to weakness of the brand, as it expended beyond its core business, Chief Executive Officer Daniel Heaf told Bloomberg. That prompted a raft of promotions which eroded returns for the company. A new transformation plan — named the Consumer First Formula — is projecting $250 million in cost savings over the next two years, according to a Thursday statement.See omnystudio.com/listener for privacy information.
On this episode of Stock Movers:- Nvidia (NVDA) rallied in the premarket session after the company delivered a surprisingly strong revenue forecast and pushed back on the idea that the AI industry is in a bubble, easing concerns that had spread across the tech sector. The world’s most valuable company expects sales of about $65 billion in the January quarter — roughly $3 billion more than analysts predicted. Nvidia also said that a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated. The outlook signals that demand remains robust for Nvidia’s artificial intelligence accelerators, the pricey and powerful chips used to develop AI models. Nvidia had faced growing fears in recent weeks that the runaway spending on such equipment wasn’t sustainable.- Shares of rival chipmakers Advanced Micro Devices (AMD), Broadcom (AVGO), and Intel (INTC) all received an Nvidia-fueled boost in early trading. Nvidia's suppliers jumped in Japan, South Korea and Taiwan, lifting benchmarks there. Nvidia’s better-than-expected earnings and outlook, coupled with the momentum that Korean semiconductor exports displayed earlier this month, prime tech shares to extend their immediate rebound because investors are likely to get drawn back in.- Cloud computing providers Coreweave (CRWV) and Oracle (ORCL) also found themselves as beneficiaries of Nvidia's earnings beat. Thursday's earnings reassured investors on artificial intelligence demand, even as questions linger over the rebound’s durability, stretched valuations and the Federal Reserve’s policy path.See omnystudio.com/listener for privacy information.
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BNP Paribas Rallies, Games Workshop Surges, JD Sports Falls
On this episode of Stock Movers:- BNP Paribas announced a new buyback and plans to reach a target for capital strength early as Chief Executive Officer Jean-Laurent Bonnafe seeks to reverse a recent slide in the stock price.Shares rallied as much as 6.6%, as the measures reassured investors following a series of setbacks. - Games Workshop shares rise as much as 11%, hitting a record high, after the maker of the Warhammer tabletop game released a 1H trading update that Jefferies described as “outstanding.” Peel Hunt upgraded the stock to buy, citing the company’s “strong performance.”- JD Sports shares drop as much as 2.4% this morning after the apparel retailer warned annual profit before tax and adjusting items will be at the lower end of market expectations. Shares have already pared losses, with analysts noting the stock is trading at a low multiple.See omnystudio.com/listener for privacy information.
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