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Nvidia Rises, Salesforce Jumps, HP Falls on Investor Concerns About PC Demand
Description
On this episode of Stock Movers:
- Nvidia (NVDA) shares rise. Nvidia Corp. said revenue will grow about 70% next fiscal year, outstripping analysts’ estimates for a 45% jump. The company's Chief Financial Officer Colette Kress said Nvidia would grow faster if it had access to more supplies, and that customers' forecasts point to the company's growth doubling next year.
- Salesforce (CRM) jumped after the software company gave an outlook for strong revenue expansion and deepened its partnership with Anthropic PBC. Sales will be about $11.5 billion in the fiscal third quarter, and current remaining performance obligations will increase about 14%.
- HP (HPQ) shares fell after investors looked past a widely expected boost in the company’s profit forecast and worried about future demand for computers and printers. Earnings, excluding items, will be 69 cents to 79 cents a share in the period ending in October, HP said.
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