📈 Awaiting Nvidia

Nvidia (NVDA) down 5% ahead of earnings, Walmart to buy TV maker Vizio for $2.3 billion, Neuralink's first human patient able to control mouse with thoughts, Biden admin slow down key emissions rules, and YouTube now dominates TV streaming in the US…

Author

Smart Owl
February 21, 2024

Good morning.

The Fast Five → Nvidia (NVDA) down 5% ahead of earnings, Walmart to buy TV maker Vizio for $2.3 billion, Neuralink's first human patient able to control mouse with thoughts, Biden admin slow down key emissions rules, and YouTube now dominates TV streaming in the US…

Calendar:

  • Today, 2/21: Minutes of Fed’s January FOMC meeting, 2:00p ET

    • Nvidia (NVDA) earnings call, 5:00p ET

Your 5-minute briefing for Wednesday, February 21:

BEFORE THE OPEN

As of market close 2/20/2024.

PRE-MARKET

MARKETS

  • US stocks fell yesterday as Nvidia led a broader tech decline ahead of the chipmaker’s earnings report

  • Europe's Stoxx 600 hit a two-year high, while French and German shares pulled back from all-time highs

  • Chinese stocks rose slightly in response to an aggressive cut to its benchmark lending rate from China’s central bank

EARNINGS

  • Nvidia (NVDA) - expected: $4.56 per share, up from 88 cents the year prior. Revenue is forecast to jump to $20.4B from last year's $6.1B (link)

  • Walmart shares rose ~3% after beating Q4 earnings and revenue estimates and reporting strong e-commerce growth (link)

  • Palo Alto Networks shares plunged ~21% AH despite beating Q2 earnings and revenue estimates due to cutting its FY guidance for revenue and billings (link)

  • What we're watching this week:

    • Today: Nvidia, Rivian, Etsy, Wingstop

    • Thursday: Block, Moderna, Carvana, Intuit

    • Friday: Warner Bros. Discovery

  • Full calendar here

NEWS BRIEFING

The move is a bid to boost the big-box retailer’s high-margin ad business. Walmart has long been a major seller of Vizio’s TVs.

"Progress is good, and the patient seems to have made a full recovery, with no ill effects that we are aware of. Patient is able to move a mouse around the screen by just thinking," Musk said Monday.

  • White House to weaken climate-fighting fuel efficiency targets for 2030 (link)

  • US asset managers ready for China recovery with products stacked up (link)

  • Conference Board gives up on US recession call (link)

  • Citigroup raised CEO Jane Fraser's 2023 pay by 6% to $26M (link)

  • Amazon will replace Walgreens in the Dow Jones Industrial Average (link)

  • Macy's is facing a board challenge from activist investor Arkhouse (link)

  • The SEC accused a biotech executive of insider trading for buying a rival's stock (link)

  • Ford cuts prices of electric Mustang Mach-E by up to $8.1k (link)

  • YouTube dominates TV streaming in U.S., per Nielsen’s latest report (link)

  • FuboTV sues Disney, Fox, Warner Bros. over sports JV (link)

  • Goldman’s O’Connor joins ETF manager Global X as CEO (link)

CRYPTO

  • Former Celsius Network CEO Alex Mashinsky wants the same lawyers as SBF (link)

  • UK plans to have new rules for stablecoins and staking crypto assets approved by lawmakers by July (link)

You Can Sponsor this Newsletter details here.​

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