This Vanguard index fund is heavily invested in the "Magnificent Seven" stocks, a group that includes Nvidia, Microsoft, Apple, Amazon, Meta Platforms, Alphabet, and Tesla.
In a strategic move, Arm Holdings has recruited Rami Sinno, a former Amazon.com Inc (NASDAQ: AMZN) artificial intelligence (AI) chip director, to enhance its in-house chip development plans.
Appaloosa's billionaire boss reversed course in the second quarter by becoming a big-time buyer of Nvidia stock and a seller of the hottest AI-networking company.
OpenAI, a leader in artificial intelligence research and development, has openly acknowledged significant challenges related to the supply of Graphics Processing Units (GPUs). While the company has indeed faced and continues to grapple with GPU shortages, impacting the rollout and accessibility of its advanced AI models, it is simultaneously implementing
Intel continued its winning run amid news of new strategic investment, while Nvidia saw activity as traders geared up for its quarterly results due next week.
From early April through early August, Nvidia stomped its way relentlessly higher, more than doubling in price and curb-stomping anyone who dare got in its way.
Sam Altman says AI spend will be “trillions” … he also says that some will get “burned” … bull/bear cases on AI… how to thread the needle with Luke Lango and Eric Fry
Shares of media broadcasting company Sinclair (NASDAQ:SBGI) fell 3.4% in the afternoon session after the stock continued to slide amid negative sentiment following its recent disappointing second-quarter earnings report. The decline appears to be continued investor disappointment following the company's weak second-quarter financial results reported earlier in August. In the quarter, Sinclair missed analyst expectations across the board. Revenue fell 5.4% year-over-year to $784 million, and the company posted a GAAP loss of $0.91 per share, a sharp reversal from the profit reported in the same period last year.
Shares of women’s plus-size apparel retailer Torrid Holdings (NYSE:CURV)
jumped 4.7% in the afternoon session after it showed signs of a potential turnaround fueled by positive analyst sentiment and improved financial flexibility. This move comes despite the stock having declined over 23% in the past month, pushing it into what some analysts consider oversold territory. Fueling the optimism is a strong consensus among Wall Street analysts, who have been raising their earnings estimates for the current year. Over the last 30 days, the consensus Earnings Per Share (EPS) estimate for Torrid has increased by 5.9%. This upward trend in earnings revisions is often seen as a precursor to potential price appreciation.
Shares of HR software provider Paycom (NYSE:PAYC) jumped 3.3% in the afternoon session after the stock gained on M&A speculation within the human resources software sector, following a report that private equity firm Thoma Bravo is in talks to acquire competitor Dayforce.
Shares of smart home company SmartRent (NYSE:SMRT) jumped 15.5% in the afternoon session amid continued positive momentum after its CEO, Frank Martell, disclosed a significant stock purchase and the company received an analyst upgrade. The move was primarily fueled by a significant insider stock purchase and a positive analyst rating change. On August 15th, CEO Frank Martell acquired 120,000 shares at an average price of $1.35 per share, a transaction valued at $162,000.
Shares of telecommunications infrastructure company Lumen Technologies (NYSE:LUMN) jumped 4.5% in the afternoon session after the company announced the appointment of a former Microsoft AI executive to a key leadership role, coupled with a significant stock purchase by its Chief Financial Officer. The network services provider appointed Sean Alexander, a founding executive of Microsoft AI, as Senior Vice President of Connected Ecosystems. In this new role, Alexander is tasked with building a team to drive customer co-innovation, strategic partnerships, and new revenue streams. This strategic hire suggests a stronger focus on high-growth areas like AI.
Shares of healthcare tech company GoodRx (NASDAQ:GDRX)
jumped 40.2% in the afternoon session after the company announced a collaboration with pharmaceutical giant Novo Nordisk to offer the popular medications Ozempic and Wegovy for $499 per month to eligible self-paying customers.
Shares of cash-back rewards platform Ibotta (NYSE:IBTA) jumped 9.7% in the afternoon session after rebounding from a steep sell-off the previous week, as investors appeared to buy the dip in what could be a technical bounce or short squeeze.
