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.

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&rsquo;s most valuable company expects sales of about $65 billion in the January quarter &mdash; 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&rsquo;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&rsquo;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&rsquo;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&rsquo;s largest retailer as it prepares to enter its next chapter under a new chief executive officer next year. - Shares of Bath &amp; 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&rsquo;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 &mdash; named the Consumer First Formula &mdash; is projecting $250 million in cost savings over the next two years, according to a Thursday statement.

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Stock Movers

Nvidia Eases AI Bubble Concerns; Walmart Rallies Post-Earnings; Bath & Body Works Plummets 

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