Today's biggest winners and losers in the stock market.
On this episode of Stock Movers, we take a look at some of the biggest gainers and decliners from this past week:
- Nvidia (NVDA) projected sales growth of 70% for the next fiscal year, far outstripping the average analyst estimate of 45%. The company added about $442 billion in market value, after Chief Financial Officer Colette Kress said Nvidia would be growing even faster if it had access to more supplies. Nvidia's upbeat outlook offered relief to investors concerned about a bubble in the AI economy, with Chief Executive Officer Jensen Huang saying demand is only accelerating and the company's latest chip line, Vera Rubin, was built to power the current moment.
- Shares of Paypal (PYPL) plummeted ahead of the close after a consortium of buyout firm Advent and payment processor Stripe decided to abandon its pursuit of fintech pioneer. The deal would have ranked as one of the biggest-ever leveraged buyouts, according to people familiar with the matter. PayPal shares dropped as much as 14.4% at the start of trading in New York on Friday, its steepest decline since February.
- Salesforce (CRM) jumped the most in six years after giving an outlook for strong revenue expansion and deepening its partnership with Anthropic PBC. The company expects revenue to accelerate in the second half of the year, with sales of about $11.5 billion in the fiscal third quarter, and current remaining performance obligations increasing about 14%. Salesforce announced an expanded partnership with Anthropic, integrating its products within the AI model Claude, and reported that its AI tool Agentforce is on track to contribute about $1.5 billion in revenue this year.
See omnystudio.com/listener for privacy information.