Market update: IMF upgrades global growth, as major economies show resilience
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AI chipmaker NVIDIA climbs to another record on earnings Shares rose 5.5% in extended trading hitting yet another record, after posting better than expected results and forecasts. Written by: Jeremy Naylor | Analyst, London Publication date: Thursday 23 May 2024 11:13 Excluding items, the company earned $6.12 per share in the first quarter, beating estimates of $5.58 while revenue rose 262% year-over-year to $26bln, beating estimates of $24.6bln. Sales at the data centre segment, its largest by revenue, grew 427% to $22.6bln. Nvidia now sees Q2 revenue of $28Bln, plus or minus 2%, above analysts' expectations of $26.66Bln, according to LSEG data. (Video Transcription) NVIDIA share price Video shares rose more than 5% as of extended trade late last night after the company produced a wonderful set of first quarter earnings. Better than expected results and also forecasts as well. Excluding items, the company earning $6.12 per share in the first quarter, beating estimates of 5.58 revenue up a whopping 262% year over year to 26 billion. Beating estimates of 24.6 billion on the figures that were expected for this quarter. NVIDIA Sales at the data center segment, its largest by revenue growing 127% year over year to 22.6 billion. Margins were metric investors were particularly attentive to. NVIDIA reporting first quarter adjusted gross margins of 78.9 beating estimates of 77%. To compare this competitor, AMD had recorded an adjusted margin of 52% in its fiscal first quarter. NVIDIA expects second quarter adjusted gross margins to be 75.5% plus or -50 basis points. AMD And the company says it will split its stock ten for one effective on the 7th of June. It's also raising its quarterly dividend by 150% to $0.01 per share the post-split basis. Take a look at the share price chart up at a record high of 106% so far this year at over 106.87. And that 10.1 stock split will make the stock far more appealing to the smaller investors in video shares up 5.9% in extended trade and following these results, we did see AMD at a bit of weight as well. This is one of the companies that's really snapping at the heels of NVIDIA, that stock was up 2.4% in extended trading late last night on the energy platform. This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary. -
By MikeBishop · Posted
Maybe try something custom-made that's personal but not too extravagant, like a photo book of your time together so far or a playlist of songs that are meaningful to both of you. You can also look for a gift related to a hobby or passion of hers. For example, if she loves cooking, a cookbook from a chef she admires could be a great choice. If she enjoys gardening, a set of beautiful plants or gardening tools could be appreciated. Overall, just try to choose something thoughtful and considerate! -
By tradinglounge · Posted
Iron Ore Elliott Wave Technical Analysis Function - Counter-trend Mode - Corrective for 2 Structure - Impulse for blue ‘a’ Position - Blue wave ‘a’ Direction - Blue wave ‘b’ Details - Price turning downside off the reversal zone means blue wave ‘b’ could have started. However, we can’t write-off the chances of wave (v) of blue ‘a’ returning upside and higher into the zone. We will wait for the end of blue wave ‘b’ before going LONG. The SGX TSI Iron Ore Index Futures is a financial derivative traded on the Singapore Exchange (SGX). It is used to hedge or speculate on the price movements of iron ore, a key raw material in steel production. FEF! has been on recovery since late March 2024 and has now gained over 24% since that time. The bounce is completing an impulse indicating the high likelihood of an extension to the upside in the medium-term. However, the long-term trend appears bearish. Thus, after the corrective recovery has been concluded, sellers can regain control. On the daily chart, the medium-term term trend is somewhat sideways. However, the trend from May 2021 is bearish. The bearish trend started at 233.95 in May 2021 and completed a double zigzag corrective structure in October 2022 at 73.6. Price followed that with another zigzag structure which ended at 143.5 in January 2024. With this picture, we can anticipate a primary degree double zigzag from the top of 233.95. Primary degree wave ‘X’ (circled) ended at 143.5 and the corresponding primary degree wave ‘Y’ has now begun. We could either get an A-B-C structure or W-X-Y for primary degree blue wave B. At the moment, the price is correcting the first decline from 143.5. This means that once the correction is concluded, the bears should take control again. to prices below 73.6. On the H4, we investigate the current bullish correction - wave 2. Wave 2 is close to completing an impulse wave which should be it’s first leg - blue wave ‘a’. After blue ‘a’, we should see a corrective pullback for blue wave ‘b’ expected to complete above the low of wave 1 at 95.4. Afterwards, wave 2 should resume higher in blue wave ‘c’. Buyers will have another opportunity to advance the recovery after finding a common support for blue wave ‘b’ leading to blue wave ‘c’. However, we can expect the recovery to be limited before sellers take over for wave 3 after wave 2 find a common resistance area. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!
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