Nvidia Drops, Abercrombie & Finch Jumps, Kohl's Rises on Earnings and CEO News
On this episode of Stock Movers:- Nvidia (NVDA) shares fall after news that Meta Platforms is in talks to spend billions on Google’s AI chips, adding to a monthslong share rally as the search giant has made the case it can rival Nvidia Corp. as a leader in artificial intelligence technology.- Abercrombie & Finch (ANF) shares jump after the company raised the low end of its full-year sales outlook as its Hollister brand continued to gain momentum.Net sales will grow 6% to 7% this year, up from the retailer’s previous outlook for at least a 5% gain. Sales at Hollister jumped 16%, helped by strong strong back-to-school demand, the company said in a statement.- Kohl's (KSS) shares rise after positive earnings and news that it promoted interim Chief Executive Officer Michael Bender to the role on a permanent basis as the US retailer tries to move past a period of management turmoil and slumping sales.See omnystudio.com/listener for privacy information.
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Nvidia Lower; Alphabet Jumps; Kohl's Soars
In this episode of Stock Movers:- Nvidia (NVDA) shares fell on a report that Meta Platforms Inc. is in talks to spend billions on Google’s AI chips, suggesting the internet search leader is making headway in efforts to rival the industry’s bestselling AI accelerator.- Alphabet (GOOG) shares rose more than 2% in postmarket trading after The Information reported Meta Platforms is in talks to spend billions of dollars to use Google’s AI-focused chips, known as TPUs, in their own data centers and also rent the chips from Google Cloud, citing a person familiar.- Kohl’s (KSS) raised its full-year outlook for the second straight quarter, a sign that Chief Executive Officer Michael Bender is helping to stabilize performance at the struggling retailer.See omnystudio.com/listener for privacy information.
On this episode of Stock Movers:- Alphabet (GOOG) shares rose more than 2% in postmarket trading after The Information reported Meta Platforms is in talks to spend billions of dollars to use Google’s AI-focused chips, known as TPUs, in their own data centers and also rent the chips from Google Cloud, citing a person familiar.- Nvidia (NVDA) shares fell on a report that Meta Platforms Inc. is in talks to spend billions on Google’s AI chips, suggesting the internet search leader is making headway in efforts to rival the industry’s bestselling AI accelerator.- Alibaba Group (BABA) posted better-than-projected 34% growth in its pivotal cloud business, highlighting the enormous demand for computing during China’s AI boom.See omnystudio.com/listener for privacy information.
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ABN Amro Job Cuts, Barclays Up, Marstens High
On this episode of Stock Movers:- ABN Amro Bank NV plans to cut almost 20% of its workforce as new Chief Executive Officer Marguerite Berard seeks to boost profitability.- Shares of UK lenders rose as worries eased that Rachel Reeves was planning to hike taxes on the UK’s biggest banks as part of Wednesday’s budget.- Marston’s shares climb as much as 12% in London to the highest level since June 2022, after the pub operator reported results ahead of analysts’ estimates on Tuesday and said Christmas bookings are strong.See omnystudio.com/listener for privacy information.
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ABN Amro Job Cuts, Kingfisher Upbeat, Rheinmetall on Ukraine
On this episode of Stock Movers:- ABN Amro Bank NV plans to cut almost 20% of its workforce as new Chief Executive Officer Marguerite Berard seeks to boost profitability.- Kingfisher shares climb as much as 6.9% after the home-improvement retailer raised its full-year earnings guidance and reported third-quarter sales that were slightly ahead of estimates.- European defense stocks including Rheinmetall may be active in early trading after Russia and Ukraine exchanged fire with heavy air raids on Kyiv and assaults on southern Russian areasSee omnystudio.com/listener for privacy information.
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