Stock Movers

On this episode of Stock Movers:
- Nvidia (NVDA) shares are lower this morning after it gave a revenue forecast of roughly $54 billion for the fiscal third quarter, in line with the average Wall Street estimate but lower than some analysts' projections. The company's leadership rejected the notion that interest in deploying AI infrastructure was flagging, with Chief Executive Officer Jensen Huang saying "the opportunity ahead is immense" and predicting $3 trillion to $4 trillion in AI infrastructure spend by the end of the decade.
- Snowflake (SNOW) is gaining after the company gave a strong outlook, overcoming anxiety that software vendors will be hurt as the economy slows and new artificial intelligence companies take away business. The company has worked to develop products that make it easier to use generative AI on data stored in its platform, with newer products outperforming expectations on revenue contribution in the quarter.
- Burlington Stores (BURL) is surging after it reported a strong quarter and raised full year guidance. The shares are off on the year, but did boost a new outlook for the third quarter.
- Build-A-Bear Workshop (BBW) shares are also higher on an earnings beat as it sis accelerating growth earnings.

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On this episode of Stock Movers:
- Nvidia (NVDA) shares are lower this morning after it gave a revenue forecast of roughly $54 billion for the fiscal third quarter, in line with the average Wall Street estimate but lower than some analysts' projections. The company's leadership rejected the notion that interest in deploying AI infrastructure was flagging, with Chief Executive Officer Jensen Huang saying "the opportunity ahead is immense" and predicting $3 trillion to $4 trillion in AI infrastructure spend by the end of the decade.
- Crowdstrike (CRWD) shares are lower after the software company gave an outlook for third-quarter revenue that was weaker than expected. The company also reported its second-quarter results, raised its full-year forecast and said it would acquire Onum.
- HP Inc. (HPQ) is lower after it gave a profit outlook for the current quarter that was in line with expectations, but investors remain concerned about the impact of economic uncertainty and higher costs tied to President Trump’s trade policies.

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On this episode of Stock Movers:
- Drax shares fall as much as 12%, the steepest decline since March 2023, after the UK power producer said it’s facing a probe by the Financial Conduct Authority.
- Pernod Ricard SA shares rose after reporting sales that topped analyst expectations and forecasting a pickup in demand in the second half of its new financial year as trade restrictions eased in key markets such as China.
- Delivery Hero shares fluctuate as the food ordering firm’s earnings beat in the first half, aided by a strong performance in Asia, is tempered by a cut to its annual guidance.

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On this episode of Stock Movers:

- Nvidia (NVDA) gave a tepid revenue forecast for the current period, signaling that growth is decelerating after a two-year boom in AI spending. The company forecast sales of roughly $54 billion in the fiscal third quarter, which was in line with the average Wall Street estimate, but excluded data center revenue from China. Nvidia shares fell about 2% in extended trading following the announcement, and the company also approved an additional $60 billion in stock buybacks.

- JM Smucker (SJM) shares fell after it reported that first-quarter net sales were weighed down by decreased sales of coffee, dog snacks, sweet baked goods and fruit spreads. The owner of the Folgers and Cafe Bustelo coffee brands reported adjusted earnings per share of $1.90 in the fiscal first quarter ended July 31, missing analysts’ average estimate of $1.93. Smucker boosted its outlook for the full year to a net sales gain of as much as 5%, up from as much as 4%. The company’s net coffee sales in the quarter rose 15% after it increased prices to adjust for higher costs.

- HP (HPQ) gave a profit outlook for the current quarter that may beat expectations, showing firming demand for computers and interest in new machines that can run the latest AI software. Sales of PCs rose 6% in the quarter and the company expects “mid-single digit” growth to continue in the current period, driven by demand for AI PCs and Windows 11. The company reported sales climbed 3.1% to $13.9 billion in the fiscal third-quarter, with profit, excluding some items, being 75 cents a share, exceeding analysts' average estimate of 74 cents.

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On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Tim Stenovec and Isabelle Lee.

- Cracker Barrel (CBRL) said it’s getting rid of a new logo that had sparked controversy and prompted a slump in its share price. “We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have,” the company said Tuesday in a statement. “Our new logo is going away and our ‘old timer’ will remain.” Wall Street applauded the move by sending shares higher.

- Abercrombie (ANF) raised its full-year sales guidance following a stronger-than-expected quarter at the teen-focused Hollister brand.Sales are now seen growing in a range of 5% to 7%, up from the apparel retailer’s previous outlook. It’s the second straight quarter the preppy apparel retailer has boosted its revenue outlook. The company also raised its profit guidance after lowering it in the previous quarter.

- Snowflake (SNOW) boosted its product revenue guidance for the full year; the guidance beat the average analyst estimate.

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On this episode of Stock Movers:

- Nvidia (NVDA)’s China sales have taken on new levels of complexity, and investors will be hoping for a clearer read when the chipmaker reports earnings Wednesday afternoon. The firm’s on-again, off-again sales in the world’s largest market for semiconductors have been a source of confusion for Wall Street. Third-quarter revenue projections for the company are roughly $15 billion apart, twice the difference between the highest and lowest estimates in the second quarter and the widest in percentage terms in at least a decade, according to data compiled by Bloomberg. The stock was little changed through trading today as investors await earnings results due after the closing bell.

- JM Smucker (SJM) shares fell after it reported that first-quarter net sales were weighed down by decreased sales of coffee, dog snacks, sweet baked goods and fruit spreads. The owner of the Folgers and Cafe Bustelo coffee brands reported adjusted earnings per share of $1.90 in the fiscal first quarter ended July 31, missing analysts’ average estimate of $1.93. Smucker boosted its outlook for the full year to a net sales gain of as much as 5%, up from as much as 4%. The company’s net coffee sales in the quarter rose 15% after it increased prices to adjust for higher costs.

- MongoDB (MDB) shares are soaring after the software company reported second-quarter results that came in much stronger than expected. It also raised its full-year forecast. The stock rallied as much as 32%, its biggest intraday gain since June 2023.

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On this episode of Stock Movers:
- Cracker Barrel (CBRL) shares rise after the company said it is getting rid of a new logo that sparked controversy and prompted a slump in its share price.
- JM Smuckers (SJM) shares drop after the company reported that first-quarter net sales were weighed down by decreased sales of certain products.
- Abercrombie & Finch (ANF) shares rise after a better-than-expected quarterly performance. It’s namesake Abercrombie banner missed on sales, while Hollister beat.

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On this episode of Stock Movers:
- Canada Goose (GOOS) shares rose after it was reported by CNBC that the company’s controlling shareholder is said to have received take-private bids valuing the company at $1.35 billion.
- American Eagle (AEO) shares jumped after the company announced a new partnership with Travis Kelce, an NFL star newly engaged to singer superstar Taylor Swift. The retailer is set to report its second quarter earnings next week
- Kohl's (KSS) shares surge after after the company offered a more optimistic full-year sales outlook, now expecting comparable sales to fall no more than 5% this year. Kohl’s latest results suggest that recent moves, are helping win back consumers, with the company's initiatives "beginning to resonate with our customers".

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On this episode of Stock Movers:
- Kohl’s (KSS) shares are up 21% in premarket trading after the department-store operator boosted its operating margin forecast for the full year.
- JM Smucker (SJM) falls 3% after the peanut butter and jelly maker reported that first-quarter net sales were weighed down by decreased sales of coffee, dog snacks, sweet baked goods and fruit spreads.
- MongoDB (MDB) soars 31% after the software company reported second-quarter results that were much stronger than expected. It also raised its full-year forecast.

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On this episode of Stock Movers:

- Nvidia (NVDA) is leading Magnificent Seven stock gains in premarket trading on Wednesday as Wall Street awaits the chip giant’s earnings for an update on demand for artificial intelligence chips. 

- CrowdStrike’s (CRWD) net new annual recurring revenue is expected to have dropped 4% in the second quarter, according to consensus. 

- Oppenheimer & Co cut the target on Salesforce (CRM) to $315 from $370. Maintains outperform rating.

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