After hours: 7:59PM EDT
|Bid||40.36 x 800|
|Ask||40.47 x 3000|
|Day's Range||40.22 - 42.76|
|52 Week Range||28.79 - 53.23|
|Beta (3Y Monthly)||1.53|
|PE Ratio (TTM)||11.32|
|Earnings Date||Aug 14, 2019 - Aug 19, 2019|
|Forward Dividend & Yield||0.84 (1.91%)|
|1y Target Est||47.75|
Mitch Steves, RBC, on Nvidia earnings and the semi showdown. With CNBC's Seema Mody and Melissa Lee, and the Fast Money traders, Pete Najarian, Tim Seymour, Dan Nathan and Guy Adami.
While EPS is benefiting to an extent from stock buybacks and good financial execution, revenue still fell 23% annually in the April quarter amid nosediving orders from memory makers, and the midpoint of Applied's sales guidance implies it will be down 21% in the July quarter. In addition, on its earnings call, Applied said it still expects industry wafer fab equipment (WFE) spend to drop by a mid-to-high teens percentage this year, a view that more or less meshes with the ones KLA and Lam provided after issuing their March quarter reports. But Applied did say it expects 2020 to be "a growth year [for] WFE," with the company seeing "a favorable setup" for both foundry/logic and memory spending.
Semiconductor equipment maker Applied Materials, Inc. (NASDAQ: AMAT) reported better-than-expected fiscal second-quarter results Thursday, sending its shares solidly higher. Wells Fargo Securities analyst Aaron Rakers maintained an Outperform rating and lifted the price target from $45 to $52. Morgan Stanley is cautious on memory spending and is projecting further declines in wafer fab equipment spending in calendar 2020.
Wall Street struggled for gains in an up-and-down session on Friday as mixed headlines on trade dampened positive consumer sentiment data, sending investors into the weekend with little enthusiasm. The Dow inched up, while the Nasdaq lost ground and the bellwether S&P 500 was nominally lower, hovering more than 2% below its record high reached on April 30. China added fuel to the fire of the increasingly rancorous trade war with the United States with a defiant front-page commentary on the Communist Party's People's Daily, ratcheting up tensions the day after U.S. President Donald Trump officially blacklisted Chinese telecom Huawei Technologies Co Ltd from doing business with U.S. companies.
U.S. stocks struggled for direction after three days of gains on Friday, as investors weighed mixed headlines on trade, with China's aggressive stance in its trade war with the United States remaining an overhang. After opening down 0.75%, the S&P 500 erased some losses after media reports that the United States was close to a deal to remove tariffs on steel and aluminum imports from Canada and Mexico. The original tariffs were on steel and aluminum and that is what started this whole trade war," said Art Hogan, chief market strategist at National Securities in New York.
Rent-A-Center, Proto Labs, NVIDIA, Pinterest and Applied Materials highlighted as Zacks Bull and Bear of the Day
The S&P 500 was trading flat but was off session lows on Friday as investors tracked trade headlines after China took a hard stance on its tariff war with the United States. After falling as much as 0.76% earlier in the session, the S&P 500 erased some losses, with traders pointing to media reports that the United States was close to a deal to remove tariffs on steel and aluminum imports from Canada and Mexico. The ruling Communist Party's People's Daily wrote the trade war will only make China stronger and will never bring the country to its knees.
Wall Street was set to break a three-day winning streak on Friday, as trade worries returned after Chinese media took a hard stance on the tariff dispute between the United States and China. The trade war will only make China stronger and will never bring the country to its knees, the ruling Communist Party's People's Daily wrote in a front-page commentary. The two sides are expected to meet in China to resume talks soon.
Dow Jones futures fell as Chinese media downplayed China trade talks. Pinterest and Baidu tumbled on earnings. Nvidia reversed lower and Applied Materials rose.
Check out the companies making headlines before the bell: Deere DE — The heavy equipment maker reported quarterly profit of $3.52 per share , 10 cents a share below estimates. Revenue exceeded analysts' expectations.
U.S. stock index futures dipped on Friday, following three consecutive sessions of gains, as trade worries returned after a Chinese newspaper took a hard stance on the tariff dispute between the United ...
Applied Materials shares rose nearly 5% in the extended session Thursday after chip and display maker beat the consensus revenue and earnings expectations. The company reported fiscal second-quarter net income of $666 million, or 70 cents a share, compared with $1.1 billion, or $1.06 a share, in the year-ago period. Adjusted for items related to acquisitions, among other things, earnings were also 70 cents a share. Revenue fell to $3.54 billion from $4.58 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 66 cents a share on revenue of $3.5 billion. For the fiscal third quarter, analysts expect adjusted earnings of 70 cents a share on sales of $3.67 billion. The company said it expects fiscal third-quarter adjusted earnings of 67 cents to 75 cents a share on sales of $3.53 billion. Applied Materials stock has fallen 25% in the past year, with the S&P 500 index rising 4.7%.
The semiconductor industry has been grappling with slowing demand that bellwether Texas Instruments warned was a cyclical downturn which could last for another two years. Applied's Chief Financial Officer Daniel Durn too said the chip market was expected to be flat for the year. "While we're still not ready to call the bottom of the semi equipment cycle, I believe our industry thesis is very much intact," Durn said in a post-earnings conference call about the broader semiconductor industry.
Shares of Pinterest PINS plummeted more than 15% during extended trading on Thursday after the company posted disappointing first-quarter earnings in its first report since going public. Pinterest gave revenue guidance of between $1.06 billion and $1.08 billion for the 2019 fiscal year, which would mark the first time the company cracks the $1-billion mark. Shares of Nvida NVDA jumped nearly 6% after the computer game company reported better-than-expected first-quarter earnings.