{"id":70079,"date":"2023-08-24T08:59:13","date_gmt":"2023-08-24T12:59:13","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=70079"},"modified":"2023-08-24T08:59:33","modified_gmt":"2023-08-24T12:59:33","slug":"coffee-with-greta-another-nvda-blowout","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/08\/24\/coffee-with-greta-another-nvda-blowout\/","title":{"rendered":"Coffee With Greta: Another NVDA Blowout"},"content":{"rendered":"

Register now<\/a> for next week's free pro trader Q&A on LinkedIn with me and T3 Trading Group's Patrick Hawe!<\/strong><\/p>\n

DJIA Futures: <\/b>-31 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>+22 (+0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+155 (+1.0%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are mixed with tech stocks rising after Nvidia\u2019s blowout earnings report.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Nvidia Blows Out Expectations<\/span><\/h2>\n

Nvidia <\/b>(NVDA) shares are rallying 6.3% ahead of the open after crushing Q2 expectations and issuing blowout guidance.\u00a0<\/span><\/p>\n

Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

    \n
  • Adjusted EPS: $2.70 vs $2.09 expected<\/span><\/li>\n
  • Revenue: $13.51 billion vs $11.22 billion expected<\/span><\/li>\n<\/ul>\n

    Revenue doubled from a year ago and surged 88% from Q1.<\/span><\/p>\n

    Nvidia cited strong demand for AI chips for that growth.<\/span><\/p>\n

    The CEO said, \u201cThe world has something along the lines of about a trillion dollars worth of data centers installed, in the cloud, enterprise and otherwise. That trillion dollars of data centers is in the process of transitioning into accelerated computing and generative AI.\u201d<\/span><\/p>\n

    The CFO said Nvidia would not be immediately impacted by the Biden administration\u2019s proposed chip export restrictions.\u00a0<\/span><\/p>\n

    The chipmaker forecast Q3 revenue of $16 billion, beating expectations for $12.61 billion and implying 170% year over year growth.<\/span><\/p>\n

    The beat is boosting other stocks across the sector with the <\/span>VanEck Semiconductor ETF <\/b>(SMH) up 2.6%.<\/span><\/p>\n

    Dollar Tree Slips On Weak Guidance<\/span><\/h2>\n

    Dollar Tree <\/b>(DLTR) shares are falling 7.0% in premarket trade after beating Q2 sales expectations but issuing weak guidance.<\/span><\/p>\n

    Here\u2019s how the discount retailer\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

      \n
    • EPS: $0.91 vs $0.87 expected<\/span><\/li>\n
    • Revenue: $7.32 billion vs $7.2 billion expected\u00a0<\/span><\/li>\n<\/ul>\n

      Dollar Tree said its expects between $0.94 and $1.04 in Q3 EPS, missing analysts\u2019 expectations for $1.27.<\/span><\/p>\n

      The company also lowered its full-year EPS forecast to between $5.78 and $6.18 vs $5.73 to $6.13 previously.<\/span><\/p>\n

      Boeing Finds New 737 Max Defect<\/span><\/h2>\n

      Boeing <\/b>(BA) shares are dropping 2.6% ahead of the open after revealing a new manufacturing defect with the 737 Max.<\/span><\/p>\n

      The plane maker said the fastener holes on the after pressure bulkhead on some 737 planes were improperly drilled.\u00a0<\/span><\/p>\n

      The issue is not related to flight safety but will delay the delivery of dozens of 737 Max planes.<\/span><\/p>\n

      Boeing said, \u201cThis issue will impact near-term 737 deliveries as we conduct inspections to determine the number of airplanes affected, and complete required rework on those airplanes.\u201d<\/span><\/p>\n

      Spirit AeroSystems <\/b>(SPR), which manufactures the Max fuselage, said only some units are affected because it \u201cuses multiple suppliers for the aft pressure bulkhead.\u201d<\/span><\/p>\n

      Spirit AeroSystems said, \u201cWe are working closely with our customer to address any impacted units within the production system and address any needed rework. Based upon what we know now, we believe there will not be a material impact to our delivery range for the year related to this issue.\u201d<\/span><\/p>\n

      Weekly Jobless Claims Drop<\/span><\/h2>\n

      Weekly jobless claims fell more than expected last week in the latest sign of strength in the labor market.\u00a0<\/span><\/p>\n

      The Labor Department reported 230,000 Americans filed initial claims for unemployment benefits last week.\u00a0<\/span><\/p>\n

      That was down by 10,000 from the week before and lower than 240,000 expected.\u00a0<\/span><\/p>\n

      Continuing claims fell by 9,000 to 1.70 million in the week ending August 12.<\/span><\/p>\n

      In Case You Missed It<\/span><\/h2>\n
        \n
      • New home sales jumped more than expected in July as buyers continue turning to new builds amid a shortage of existing homes for sale. The Census Bureau reported new sales rose 4.4% monthly to a seasonally adjusted annual rate of 714,000 vs 704,000 expected. New home sales surged 31.5% year over year to the highest level since February 2022.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        Register now for next week’s free pro trader Q&A on LinkedIn with me and T3 Trading Group’s Patrick Hawe! DJIA Futures: -31 (-0.1%) SPX Futures: +22 (+0.5%) NASDAQ Futures: +155 (+1.0%) Good morning friends! Futures are mixed with tech stocks rising after Nvidia\u2019s blowout earnings report. Let\u2019s get right to it! Nvidia Blows Out Expectations Nvidia (NVDA) shares are rallying 6.3% ahead of the open after crushing Q2 expectations and issuing blowout guidance.\u00a0 Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $2.70 vs $2.09 expected Revenue: $13.51 billion vs $11.22 billion expected Revenue doubled from a year ago and surged 88% from Q1. Nvidia cited strong demand for AI chips for that growth. The CEO said, \u201cThe world has something along the lines of about a trillion dollars worth of data centers installed, in the cloud, enterprise and otherwise. That trillion dollars of data centers is in the process of transitioning into accelerated computing and generative AI.\u201d The CFO said Nvidia would not be immediately impacted by the Biden administration\u2019s proposed chip export restrictions.\u00a0 The chipmaker forecast Q3 revenue of $16 billion, beating expectations for $12.61 billion and implying 170% year over year growth. The beat is boosting other stocks across the sector with the VanEck Semiconductor ETF (SMH) up 2.6%. Dollar Tree Slips On Weak Guidance Dollar Tree (DLTR) shares are falling 7.0% in premarket trade after beating Q2 sales expectations but issuing weak guidance. Here\u2019s how the discount retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $0.91 vs $0.87 expected Revenue: $7.32 billion vs $7.2 billion expected\u00a0 Dollar Tree said its expects between $0.94 and $1.04 in Q3 EPS, missing analysts\u2019 expectations for $1.27. The company also lowered its full-year EPS forecast to between $5.78 and $6.18 vs $5.73 to $6.13 previously. Boeing Finds New 737 Max Defect Boeing (BA) shares are dropping 2.6% ahead of the open after revealing a new manufacturing defect with the 737 Max. The plane maker said the fastener holes on the after pressure bulkhead on some 737 planes were improperly drilled.\u00a0 The issue is not related to flight safety but will delay the delivery of dozens of 737 Max planes. Boeing said, \u201cThis issue will impact near-term 737 deliveries as we conduct inspections to determine the number of airplanes affected, and complete required rework on those airplanes.\u201d Spirit AeroSystems (SPR), which manufactures the Max fuselage, said only some units are affected because it \u201cuses multiple suppliers for the aft pressure bulkhead.\u201d Spirit AeroSystems said, \u201cWe are working closely with our customer to address any impacted units within the production system and address any needed rework. Based upon what we know now, we believe there will not be a material impact to our delivery range for the year related to this issue.\u201d Weekly Jobless Claims Drop Weekly jobless claims fell more than expected last week in the latest sign of strength in the labor market.\u00a0 The Labor Department reported 230,000 Americans filed initial claims for unemployment benefits last week.\u00a0 That was down by 10,000 from the week before and lower than 240,000 expected.\u00a0 Continuing claims fell by 9,000 to 1.70 million in the week ending August 12. In Case You Missed It New home sales jumped more than expected in July as buyers continue turning to new builds amid a shortage of existing homes for sale. The Census Bureau reported new sales rose 4.4% monthly to a seasonally adjusted annual rate of 714,000 vs 704,000 expected. New home sales surged 31.5% year over year to the highest level since February 2022.<\/p>\n","protected":false},"author":41,"featured_media":70084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-70079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=70079"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70079\/revisions"}],"predecessor-version":[{"id":70087,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70079\/revisions\/70087"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/70084"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=70079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=70079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=70079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}