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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