NVIDIA stock rises to record high after reports of custom chip unit plan
16 minutes ago
Nvidia (NVDA) stock rose to an all-time high in intraday trading on Friday following reports that the chipmaker plans to launch a new business unit focused on custom chips, including chips that power artificial intelligence (AI). Updated values.
The company's stock rose more than 3% to $717.71 per share as of 2:15 p.m. ET on Friday, after rising as high as $718.14 during the session. The stock has risen nearly 50% so far this year.
Reuters reported on Friday, citing sources familiar with the company, that the company is “focused on designing bespoke chips, including advanced artificial intelligence processors, for cloud computing companies and others. “We are building a new business unit,” the company said, citing sources familiar with the company.
This new division could help Nvidia capture a slice of the growing market for custom chips, as well as strengthen its position as the world's most valuable chip company amid the AI boom. be.
The record high comes just days after Nvidia hit its previous high on Monday, when Goldman analysts raised their price target and upgraded the rating to “buy,” citing gains from surging demand for AI. achieved later.
-Naomi Buchanan
Bitcoin surpasses $48,000 for first time since ETF approval
1 hour 20 minutes ago
Bitcoin rose on Friday, trading above $48,000 for the first time since the SEC's decision (January 10) to allow spot Bitcoin ETFs to begin trading.
On Friday afternoon, Bitcoin rose 5.6% to $48,050, its highest level since mid-January, when the ETF's first day of trading saw wild price swings. Bitcoin has been on a downward trend since trading at a high of $49,000 on January 11, dropping to $39,000 in late January as investors took profits from the rally in anticipation of ETF approval. did.
However, the cryptocurrency has rallied in recent days as spot ETF flows turned positive. Bitcoin ETFs on Thursday recorded their biggest net inflows since January 17, according to crypto research firm BitMEX.
Bitcoin could also get a boost from the impending halving. The halving will result in the number of miners being awarded Bitcoin for validating transactions on the blockchain to be halved. The halving is expected to take place in April.
Cryptocurrency stocks rose on Friday. Coinbase Global (COIN), the custodian of most Bitcoin ETF assets, rose 7.4%, while miners Riot Platforms (RIOT) and Marathon Digital (MARA) rose 12.3% and 11.9%, respectively.
PepsiCo's profits increase due to higher prices, but sales hurt due to lower volumes
2 hours 5 minutes ago
PepsiCo (PEP) reported better-than-expected profits as it benefited from higher prices, but sales fell for the first time in nearly four years due to lower volumes and unfavorable exchange rates. The stock price fell 2.6% in intraday trading on Friday on the news.
The soft drink and snack maker reported fourth-quarter earnings per share (EPS) of $1.78, beating expectations. Sales were $27.85 billion, down 0.5% from the previous year, lower than expected.
The company noted that exchange rates had a negative impact of 1.5% on revenue. Due to Pepsi's price increase, organic revenue increased by 4.5%. However, due to these price increases, sales volumes in the ready-to-eat food and beverage divisions decreased by 3% and 2%, respectively.
The company predicted full-year organic revenue growth of at least 4% and core constant currency EPS of at least 8%.
The news sent PepsiCo's stock price into negative territory over the past year.
-Bill McCall
TradingView
Affirmed beat forecast and raised guidance, but stock price fell
2 hours 46 minutes ago
Affirm (AFRM) stock fell on Friday after a “buy it now,” although some may have thought the full-year outlook provided by the postpaid provider was conservative compared to its earnings above earnings.
Affirm reported a net loss of $167 million, or 54 cents per share, nearly half its loss in the year-ago period. Sales increased 48% from the previous year to $591 million. Gross merchandise value (GMV) increased 32% to $7.5 billion, $600 million above the high end of the November forecast range.
After a strong quarter, the company raised its full-year outlook. Affirm now expects full-year GMV of $25.25 billion, up from its November estimate of $24.25 billion. But given that Affirm now expects GMV in each of the remaining two quarters of the year to be about $600 million above previously expected, investors may have been expecting an even bigger increase.
This likely masked a 68% increase in revenue before transaction costs ($242 million, representing 3.2% of GMV). Affirm also highlighted stable credit quality, with 30+ day delinquency rates unchanged quarter-over-quarter and year-over-year at the end of December.
Affirm stock was down 12.7% at midday Friday after surging 10% on Thursday ahead of the company's earnings release. Despite Friday's decline, the stock has risen more than 220% over the past year.
4th quarter results mixed, Expedia stock falls after CEO change announcement
3 hours 51 minutes ago
Travel giant Expedia (EXPE) surprised investors on Friday by reporting quarterly results that beat Wall Street expectations, lower-than-expected bookings, and announced the appointment of a new chief executive officer. As a result, stock prices plummeted.
The pioneer online travel company had fourth-quarter adjusted earnings of $242 million, or $1.72 per share. This compared to the analyst consensus estimate of $1.68 per share. Revenue for the same period was $2.89 billion, up 10% from the previous year and beating Street View's $2.88 billion. Total bookings for the quarter rose 6% to $21.67 billion, slightly below analysts' expectations of $22 billion.
In a separate statement released Thursday night, the company announced that CEO Peter Kahn will step down and be replaced by insider Ariane Gorin on May 13. Mr. Golin has been with Expedia for more than 10 years. He will also recently become a member of the company's board of directors as president of Expedia for Business, the company's business-to-business (B2B) division.
Source: TradingView.com.
Expedia stock has been on a sharp upward trend since closing above its 200-day moving average in early November, and has since been volatile throughout most of January. A break below the 50-day moving average risks shifting investor sentiment from bullish to bearish, potentially triggering a trend reversal. It is worth keeping an eye on the $122 level. This area on the chart is likely supported by a multi-month horizon and a 200-day moving average.
Expedia shares fell 17.5% to $131.58 Friday morning.
-Timothy Smith
Cloudflare stock soars on strong earnings and positive outlook
4 hours 40 minutes ago
Cloudflare (NET) stock soared in early trading Friday after the cybersecurity and content delivery solutions provider released a better-than-expected quarterly report and first-quarter guidance that beat market expectations. This is driven by the addition of large customers and increased cloud demand. security services.
The San Francisco-based company's adjusted earnings for the December quarter were 15 cents per share on sales of $362.5 million, compared to analysts' estimates of earnings per share (EPS) on sales of $353.1 million. I expected it to be 12 cents. Additionally, sales increased 32% year over year.
Cloudflare co-founder and CEO Matthew Prince said the strong quarter was driven by large customer contracts, expansion into the government sector, and the company's cloud-based network-as-a-service (NaaS) solution. He attributed this to the growth of Cloudflare One.
Looking forward, Cloudflare expects to earn adjusted earnings of 13 cents per share in the current quarter, beating analysts' model estimates of 12 cents per share by a penny. Importantly, the lower end of the company's top earnings guidance range of $372.5 million to $373.5 million is higher than Wall Street's first-quarter revenue estimate of $372.3 million.
Source: TradingView.com.
Cloudflare's stock price broke out of an ascending triangle pattern on above-average volume leading to earnings, indicating that investors were expecting an explosive quarterly report from the company. If the earnings-driven rally continues beyond this week, keep an eye on the $132 level as a potential resistance area on the chart. In this region, investors could potentially lock in profits near the notable swing highs of March 2022.
Cloudflare stock rose 24.3% to $112.19 Friday morning.
-Timothy Smith
Stocks that move the most before the market
5 hours 39 minutes ago
Profit:
- Cloudflare Inc. (NET): The cybersecurity company's stock rose 24% after the company reported better-than-expected fourth-quarter profits and guidance for the current quarter.
- Coinbase Global Inc. (COIN): The cryptocurrency's stock price rose more than 7% as Bitcoin's price soared above $47,000.
- Rivian Automotive, Inc. (RIVN): Shares of the electric truck maker rose 4% after the company announced two new battery pack options for its R1T and R1S models, creating a lower-priced version of its entry-level vehicle. .
loss:
- Expedia Group (EXPE): Shares of the online travel company fell 15% after holiday bookings fell short of analysts' expectations. The company also surprised investors by announcing that CEO Peter Kahn had resigned.
- Pinterest Inc. (PINS): Shares of the social platform fell 8% after the company reported fourth-quarter revenue that fell short of analysts' expectations.
- Take-Two Interactive Software Inc. (TTWO): The video game publisher's stock fell more than 7% after it lowered its full-year reservations forecast, citing weak mobile advertising markets and NBA 2K24 sales.
Stock futures rise in pre-market trading
6 hours 24 minutes ago
Futures contracts tied to the Dow Jones Industrial Average were trading about 0.1% higher in premarket.
S&P 500 futures rose 0.2%.
Nasdaq 100 futures were also up about 0.2% a little more than an hour before the opening bell.
