Stock Market Today: Nvidia Revenue Warning Weighs on Stocks
Stocks ended Monday with a whimper as a solidly higher open lost momentum throughout the trading day. SEE MORE Buffett Goes on Buying Spree as Stock Market Reels Disappointing earnings announcements from a pair of tech names created selling pressure for the broader market. Most notably, Nvidia ( NVDA ) shed 6.3% after the chipmaker said its second-quarter revenue will likely come in at $6.7 billion – lower than the $8.1 billion it previously guided for – amid a 33% year-over-year decline in gaming revenue. The company also expects "challenging market conditions" to persist in Q3. NVDA will release its full earnings report on Aug. 24. Earnings from Palantir Technologies ( PLTR ) were also on Wall Street''s radar. Shares plunged 14.2% after the data analytics firm reported a per-share loss of 1 cent in its second quarter, compared to the consensus estimate for earnings of 3 cents per share. PLTR also gave lower-than-anticipated full-year revenue guidance. Sign up for Kiplinger''s FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
Stock Market Today: Nvidia Revenue Warning Weighs on Stocks
Stocks ended Monday with a whimper as a solidly higher open lost momentum throughout the trading day. SEE MORE Buffett Goes on Buying Spree as Stock Market Reels Disappointing earnings announcements from a pair of tech names created selling pressure for the broader market. Most notably, Nvidia ( NVDA ) shed 6.3% after the chipmaker said its second-quarter revenue will likely come in at $6.7 billion – lower than the $8.1 billion it previously guided for – amid a 33% year-over-year decline in gaming revenue. The company also expects "challenging market conditions" to persist in Q3. NVDA will release its full earnings report on Aug. 24. Earnings from Palantir Technologies ( PLTR ) were also on Wall Street''s radar. Shares plunged 14.2% after the data analytics firm reported a per-share loss of 1 cent in its second quarter, compared to the consensus estimate for earnings of 3 cents per share. PLTR also gave lower-than-anticipated full-year revenue guidance. Sign up for Kiplinger''s FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.