Nvidia (NVDA) continues to ride the AI wave, with its latest results reinforcing the ongoing boom in AI spending. The company's shares rose 2.5% in premarket trading, reflecting the optimism despite investor sentiment not always aligning. Nvidia's transition from its Hopper line of GPUs to the Blackwell line accounted for $11 billion in revenue, highlighting the company's adaptability and growth.
Snowflake (SNOW) saw a significant premarket surge of about 13% after its fourth-quarter results exceeded expectations. The company, which provides a cloud-based data platform, impressed Wall Street with its performance and continued growth through new product capabilities. Snowflake's partnership with Microsoft (MSFT, Financial) to integrate OpenAI models further strengthens its platform's competitive edge.
Verizon (VZ, Financial) faces potential challenges as the Federal Aviation Administration considers canceling its $2 billion contract in favor of Elon Musk's Starlink. The FAA's testing of Starlink systems in New Jersey and Alaska aims to improve communication reliability, raising concerns about conflicts of interest in government projects.
Viatris (VTRS, Financial) experienced a 12% drop in premarket trading due to a disappointing full-year outlook. The generic drugmaker is grappling with remediation work at its India plant, impacting its revenue and adjusted EBITDA projections for 2025. The challenges stem from FDA warnings and subsequent shipment blockades.
Meta (META, Financial) issued an apology following a glitch on Instagram that led to users encountering graphic videos in their feeds. The company has since rectified the error and reiterated its commitment to content moderation, ensuring sensitive content is appropriately flagged or removed.
Rithm Property Trust (RITM, Financial) announced a $50 million offering of Series C Preferred Stock, with proceeds earmarked for investments and corporate purposes. The offering is expected to close soon, subject to customary conditions, and the company plans to list the stock on the NYSE.
Rolls-Royce (RYCEY, Financial) soared to an all-time high after resuming shareholder payouts and announcing a £1 billion share buyback. The company reported a significant increase in underlying operating profit, exceeding its guidance range, and anticipates meeting its mid-term targets two years ahead of schedule.
A surge in bearish sentiment among individual investors has been noted, with the American Association of Individual Investors reporting a jump to 60.6%. This marks the highest level in over two years, as tech and momentum trades show vulnerability, echoing sentiments from the financial crisis era.
A surge in initial jobless claims was reported, rising to 242,000, surpassing expectations. The increase reflects ongoing economic uncertainty, with continuing claims slightly below consensus. The Department of Labor highlighted a stable unemployment rate, despite the rise in claims.
Chubb (CB, Financial) maintained its quarterly dividend, offering a forward yield of 1.33%. The resilient insurance leader continues to demonstrate strong financial health, with its recent earnings exceeding consensus estimates.
A downturn in Bitcoin's (BTC-USD, Financial) value has been observed, with the cryptocurrency trading lower amid ongoing bearish sentiment. BlackRock's iShares Bitcoin Trust (IBIT) recorded substantial outflows, reflecting broader market challenges and a lack of positive catalysts.
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