|Bid||0.00 x 2900|
|Ask||0.00 x 1800|
|Day's Range||19.72 - 20.96|
|52 Week Range||9.04 - 34.14|
|Beta (3Y Monthly)||5.05|
|PE Ratio (TTM)||66.86|
|Earnings Date||Jan 28, 2019 - Feb 1, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.17|
Trade rumors continue to swirl and Friday was no different as stocks were able to shake off early losses, despite the beat down we saw in Nvidia (NASDAQ:NVDA). Nvidia missed on earnings and came up way short on revenue expectations for next quarter.
Investors betting against chip stocks had reaped $824 million in mark-to-market profits as of Friday afternoon, according to financial analytics firm S3 Partners. The majority came from short positions in Nvidia, whose 19 percent loss was its worst in 10 years. Competitor Advanced Micro Devices Inc. fell 3.9 percent.
Have no fear, Cramer's here. Investors still in the chip company may be feeling extra anxious today after the company announced earnings that missed analysts expectations. Nvidia's revenue forecast for the fourth quarter came out to $2.7 billion, which didn't meet expectations of $3.4 billion.
Nasdaq futures led a sell-off as Nvidia, Applied Materials, Nordstrom and Williams-Sonoma dived on earnings and guidance. Other chip and retail stocks fell in sympathy.
A case of tough love for Advanced Micro Devices (NASDAQ:AMD) just got a bit more difficult, as misery loves company in a challenging market environment. If investors can look smartly past the latest bear market warnings, it’s time to put AMD stock on the radar for buying. Blame it on Nvidia (NASDAQ:NVDA).
Advanced Micro Devices (NASDAQ:AMD) and Bank of America (NYSE:BAC) led the way. AMD finished the session 3.3% higher as investors once again rushed back to the bullish side of the spectrum, though for the record, Advanced Micro Devices was down more than 6% in after-hours trading after rival Nvidia (NASDAQ:NVDA) posted disappointing third-quarter results. BofA was up 2.5% mostly because the market’s rising tide lifted banks first and foremost.
On Thursday in the lead up to the company’s third-quarter earnings report, Nvidia (NASDAQ:NVDA) investors were feeling pretty good. After a dismal forecast for Q4 that’s being blamed largely on a lasting “crypto hangover,” Nvidia stock was down as much as 19% in early morning trading, dipping under $165 at one point. Nvidia reported its Q3 earnings on Thursday evening.
Another carryover is the semiconductor situation, with that entire volatile sector potentially coming under pressure after disappointing Nvidia Corporation (NASDAQ: NVDA) earnings hit the tape late Thursday (see more below). Meanwhile, Commerce Secretary Wilbur Ross splashed cold water on China trade hopes by saying talks later this month between President Trump and China’s President Xi would be to set up a “framework” for future talks, and that the U.S. still plans to raise tariffs on China in January. As the opening bell drew near, Fed Vice Chair Richard Clarida told CNBC that the Fed is close to the point of being “neutral” on interest rates and should base further increases on economic data, the network reported.
The semiconductor sector was headed for broad and sharp declines Thursday, after disappointing earnings reports from Nvidia Corp. and Applied Materials Inc. . The VanEck Vectors Semiconductor ETF dropped 3.7% in premarket trade, with all components trading losing ground. The biggest loser was Nvidia's stock, which plunged 18% toward a 14-month low, after the company reported late Thursday earnings that missed expectations and provided a downbeat outlook. The company also said the inventory issues that weighed on results was also affecting its competitors, and that send Advanced Micro Devices Inc.'s stock down 7.3% premarket. Applied Materials shares shed 9.5% after the chip equipment maker provided late Thursday disappointing guidance. Elsewhere, Intel Corp.'s stock slumped 1.2% and Micron Technology Inc. shares slid 3.5%. Meanwhile, S&P 500 futures dropped 0.5%. Over the past three months, the chip ETF has lost 7.4% through Thursday, while the S&P 500 has lost 3.9%.
Nvidia missed analyst expectations on third quarter 2019 revenue and guidance for the next quarter. Advanced Micro Devices, one of Nvidia's top competitors, also fell over 6 percent Friday. The company missed analyst revenue expectations of $3.24 billion per Refinitiv, with the company recording $3.18 billion for the quarter.
NVIDIA (NVDA) and Applied Materials (AMAT) joined Texas Instruments (TXN), TSMC (TSM), and Advanced Micro Devices (AMD) in reporting weak earnings guidance for the December quarter. NVIDIA and Applied Materials’ earnings guidance missed analysts’ estimates, which sent the stock down 16.8% and 7.3% in the after-hours trading session on November 15.
NEW YORK, NY / ACCESSWIRE / November 16, 2018 / U.S. equities regained footing on Thursday as oil prices climbed and hopes of a trade agreement between the U.S. and China raised investor’s optimism. The ...
US stocks ended a see-saw session in positive territory on Friday as surging real estate and utilities shares offset a lacklustre day for the technology sector. Wall Street also received a boost after ...
Advanced Micro Devices Inc. stock fell 6.5% in the extended session Thursday after Nvidia Corp. released earnings that included graphics processing unit inventory issues. On its conference call late Thursday, Nvidia said that its GPU inventories were building up, creating a backlog of unsold cards and chips. The inventory issue was also affecting competitors, Nvidia said. "I think the channel has more than 12 weeks of inventory between us and the other brand," Nvidia Chief Executive Jensen Huang said in the conference call Thursday. "The amount of inventory is not just us it's also the other brands. And our ability to see the other brand's inventory is just much harder. We try our best to estimate it but obviously we didn't estimate it well enough. And so the answer to your question is yes I think there's about, from our perspective, about 12 weeks of our inventory to sell-through at this point." An AMD spokesman said in an email Thursday that the company had already disclosed crypto weakness in its most recent earnings report, and that Nvidia was just "reaffirming what we have already called out." Nvidia stock has fallen 17% in the extended session and closed up 2.6% to $202.39 in regular trading. The S&P 500 index closed up 1.1% Thursday.
Investors seemed to give Nvidia an early holiday gift of low expectations. Lingering concerns about Nvidia’s exposure to the volatile cryptocurrency-mining business didn’t help either, especially after rival Advanced Micro Devices posted its own disappointing numbers last month. Nvidia reported $3.2 billion in revenue for the quarter ended Oct. 28, up 21% year over year but slightly below what analysts expected.
would miss analysts' earnings estimates for the company's latest quarterly earnings -- and that's exactly what the chip giant did on Thursday. "I think Nvidia is going to miss the quarter, alright?" Cramer said on Oct. 13 at TheStreet's Boot Camp for Investors in New York. The miss and lackluster forward guidance sent NVDA shares down some 18% in after-hours trading Thursday evening -- a move that Cramer also correctly forecast back in October.
Walmart Inc. (NYSE: WMT) became the latest major store to exceed earnings estimates Wednesday, and shares of the company climbed in pre-market trading. Walmart earnings of $1.08 per share beat third-party consensus of $1.01, while revenue of $124.9 billion came in just shy of estimates. WMT’s strength follows solid results earlier this week from Home Depot Inc. (NYSE: HD) and Macy’s Inc. (NYSE: M).