XPeng deliveries, Nutanix, Broadcom stock: Trending Tickers
Stocks digest the August jobs report data. XPeng (XPEV) shares rise as China's EV market reports all-time high deliveries this past month. Software provider Nutanix (NTNX) beats fourth-quarter revenue expectations and issues strong guidance. Lastly, Broadcom (AVGO) stock slides after squeaking by earnings estimates, not living up to the AI hype precedent set by Nvidia.
Yahoo Finance Live's Brad Smith and Rachelle Akuffo break down the top trending stocks after Friday's opening bell.
Video Transcript
BRAD SMITH: We're about 30 minutes into the trading day. And the first one of September. Let's take a look at how stocks are moving right now. They are higher to start September following the August jobs report, which topped expectations at 187,000, but still shows a cooling economy.
Importantly, wage growth is also cooling down, rising just 4.3%. Setting the Fed up for a widely expected September pause.
RACHELLE AKUFFO: And taking a look at individual names, Xpeng is on the rise this morning, as Chinese electric vehicle deliveries hit a record high for any month when combining Li, Nio, and Xpeng results. Xpeng delivered over 13,000 smart EVs in August, an increase of 24% month-over-month. And 43% compared to the year prior.
BRAD SMITH: We're also watching Nutanix pop this morning after topping analyst expectations for its revenue in its fourth quarter and issuing strong guidance. The company recently introduced a GPT-in-a-Box, which allows users to run AI models while controlling their data.
RACHELLE AKUFFO: And we're keeping our eyes on Broadcom, which doesn't seem to be benefiting as much from the AI hype, as its competitors. The chip maker reported results just above expectations and issued in-line guidance, which wasn't enough for investors who are used to NVIDIA blowing their estimates out of the water.
Still, it's expecting AI revenue of $7 billion next fiscal year from around $3.8 billion this year.
