High Volatility Expected in Nvidia Report, Ambarella Soars 20%, Hertz Strengthens Board, Apple Cuts Jobs

Nvidia (NASDAQ:NVDA) – Options traders in the US expect Nvidia’s upcoming earnings report to cause a stock swing of around 9.8%, representing a market impact of over $300 billion, according to Reuters. Shares rose 0.1% in pre-market trading.

Ambarella (NASDAQ:AMBA) – Ambarella announced Q2 2025 earnings that exceeded forecasts. Earnings per share were -$0.13, better than the estimated -$0.19. Sales increased 2.6% to $63.73 million, above the expected $62.1 million. The company forecasts revenue of $77-81 million and gross margins of 62.5%-64% for the next quarter. Shares rose 19.6% in pre-market, after closing up 3.2% on Tuesday.

Hertz Global Holdings (NASDAQ:HTZ) – Hertz added Francis Blake and Lucy Clark Dougherty to its board, bringing the total to 11 members. Blake, former CEO of Home Depot, and Dougherty, former GM, join as the company faces challenges with demand and high maintenance costs for electric vehicles. Shares fell 2.3% in pre-market.

Apple (NASDAQ:AAPL) – Apple laid off about 100 employees from its digital services group, with the most impact on the Apple Books and Apple Bookstore teams. The layoffs also affected engineering roles and the Apple News team. The layoffs are part of an internal reorganization to focus on new priorities like artificial intelligence. Additionally, Apple partnered with India’s Airtel to offer its music and video streaming services for free to premium customers of the carrier. This partnership aims to boost Apple’s presence in India, a competitive entertainment market. Airtel users will have access to Apple TV+ and Apple Music, while Airtel’s Wynk app will be discontinued. Shares rose 0.1% in pre-market.

CrowdStrike (NASDAQ:CRWD) – CrowdStrike’s financial results on Wednesday will reveal the impact of a global shutdown caused by a faulty software update, affecting millions of devices and damaging its reputation. Investors are keen to see how the incident affected customer confidence and whether it impacted the company’s market share. Shares rose 0.1% in pre-market.

Salesforce (NYSE:CRM) – Investors are eager to know when software companies will start seeing significant results from investments in artificial intelligence (AI). Salesforce, which promised AI-driven growth, saw a sharp drop in its shares after forecasting slower sales growth. If the upcoming results do not show progress, it may raise doubts about AI’s effectiveness in generating quick gains.

Alphabet (NASDAQ:GOOGL) – Google was prevented from building a data center in Dublin for failing to meet Ireland’s sustainability requirements. The South Dublin County Council rejected the plan due to the lack of details on the impact on the energy supply, a growing problem with the demand for data centers in the region.

Intel (NASDAQ:INTC) – The sudden resignation of Lip-Bu Tan from Intel’s board resulted from disagreements with CEO Pat Gelsinger over AI strategy, the company’s risk-averse culture, and its excessive workforce. Tan grew frustrated with the bureaucracy and lack of focus on effective cost-cutting, particularly among middle managers. Shares rose 0.1% in pre-market.

Super Micro Computer (NASDAQ:SMCI) – Hindenburg Research revealed a short position in Super Micro Computer, alleging “accounting manipulation” and other issues like undisclosed transactions and non-compliance with export controls. Shares fell -3.1% in pre-market after closing down -2.6% on Tuesday.

Hewlett Packard Enterprise (NYSE:HPE) – The US Commerce Department plans to grant $50 million to HP to expand and modernize a facility in Oregon, focusing on semiconductors. The funding will support technologies for life sciences and AI, reflecting federal investment in semiconductors and related components.

Meta Platforms (NASDAQ:META) – Meta Platforms will shut down its augmented reality studio Meta Spark on January 14, removing third-party AR effects such as filters and 3D objects. The company is prioritizing investments in AI and the metaverse. Meta’s own effects will remain available on its platforms, but creators will need to find alternatives like Snapchat’s Lens Studio. Shares rose 0.2% in pre-market.

EchoStar (NASDAQ:SATS) – EchoStar may need to sell more spectrum-backed securities to delay maturities and improve its liquidity due to an unsustainable $22 billion debt. The company is facing financial difficulties and may have to offer high coupons to attract investors.

Mattel (NASDAQ:MAT), Nokia (NYSE:NOK) – HMD Global, the maker of Nokia phones, launched the HMD Barbie Phone in partnership with Mattel. This pink flip phone, with a retro design and illuminated keyboard, costs $131.24 (£99) and allows calls and texts, without access to social media. The launch celebrates Barbie’s 65th anniversary and follows the success of the “Barbie” movie. HMD expects to sell over 400,000 units in the UK.

Walmart (NYSE:WMT) – Walmart launched new services to facilitate the transportation and management of products for sellers, especially from Asia, to its warehouses in the US. The retailer will also waive storage fees and offer advances for sellers who send inventory before September 30, aiming to boost their holiday sales. Additionally, Walmart is expanding its online marketplace, including used watches and collectible cards, to compete with eBay and Amazon. The goal is to diversify the offering and attract new customers, increasing e-commerce growth. Shares rose 0.3% in pre-market.

Costco Wholesale (NASDAQ:COST) – Costco, with shares up nearly 40% this year, is seen as a candidate for a stock split due to the current high price of over $900. Several other retail companies, such as Walmart and Chipotle, have also conducted splits, reflecting their strong performance.

JD.com (NASDAQ:JD) – JD.com announced a $5 billion stock buyback program on Tuesday, valid for 36 months starting in September. The move follows a $3 billion buyback in March and aims to ease investor concerns about the Chinese retail market. Shares rose 0.5% in pre-market after rising 2.3% on Tuesday.

Alibaba (NYSE:BABA) – Alibaba’s inclusion in Stock Connect could release up to $3.2 billion into global markets, according to Bloomberg. Chinese institutional funds could buy Alibaba shares directly, freeing up foreign investment quotas for other stocks, such as those in the US and Japan. This could benefit foreign stocks and adjust the balance of international investment. Shares fell 0.4% in pre-market.

Nordstrom (NYSE:JWN) – Nordstrom exceeded expectations in the second quarter, with adjusted earnings of 96 cents per share, above the expected 71 cents. Revenue increased 3.2% to $3.89 billion. Sales were boosted by the anniversary sale event and the expansion of Rack stores.

Abercrombie & Fitch Co. (NYSE:ANF) – Abercrombie & Fitch plans to re-enter Hong Kong after eight years, renting two large stores in central locations. The brand is betting on the city’s retail market recovery, which is facing lower property prices and stronger purchasing power. Shares rose 0.8% in pre-market.

PVH Corp. (NYSE:PVH) – PVH Corp. reported $158 million in Q2 earnings ($3.01 per share), beating expectations of $2.29 per share. Revenue fell 6% to $2.074 billion. Despite strong performance from the Calvin Klein and Tommy Hilfiger brands and significant gross margin expansion, the company faced challenges in the Asia-Pacific region. PVH maintained its annual adjusted earnings forecast of $11.55 to $11.80 per share and projected a 6% to 7% sales decline for Q3. Shares fell 8.7% in pre-market.

Philip Morris International (NYSE:PM) – Philip Morris will invest $232 million to expand production of ZYN nicotine pouches in Owensboro, Kentucky, to meet high demand. The investment will be made by Swedish Match, following a previous $600 million announcement for a new plant in Colorado. The expansion is expected to be completed by Q2 2025.

Canopy Growth (NASDAQ:CGC), Tilray Brands (NASDAQ:TLRY) – Cannabis company shares plummeted after the DEA postponed the rescheduling of marijuana to December 2. Attorney General Merrick Garland had recommended the change to Schedule three, but the prolonged wait continues to create uncertainty in the sector. Canopy shares fell 2.7% in pre-market after closing down 9.6% on Tuesday. Tilray shares rose 1.1% in pre-market after a 5.9% drop the day before.

General Motors (NYSE:GM) – Samsung SDI and General Motors finalized an agreement to build an electric vehicle battery plant in Indiana, with an initial investment of $3.5 billion and a capacity of 27 GWh, potentially reaching 36 GWh. Mass production is expected to begin in 2027, increasing efficiency and reducing costs. Additionally, GM hired Tim Twerdahl, a former Apple executive, as vice president of product management for its software unit. He joins other former Apple leaders at GM, which is bolstering its software team while making cuts to accelerate development and compete with rivals like Tesla. Shares fell 0.1% in pre-market.

Ferrari NV (NYSE:RACE) – Ferrari stands out for its brand loyalty and low dependence on the Chinese market, contributing to its superior performance compared to luxury and automotive rivals. With shares up 43% this year and a solid base of loyal customers, Ferrari outperforms competitors like Renault and LVMH.

Tesla (NASDAQ:TSLA) – Tesla shares fell 1.9% on Tuesday, closing at $209.21, in contrast to the slight gain in the S&P 500. Stock volatility has been high since the Q2 earnings report. So far in 2024, Tesla shares have fallen about 15%, with declining vehicle sales. Shares fell 0.3% in pre-market.

Li Auto (NASDAQ:LI) – Investors expect Li Auto, a Chinese electric vehicle leader, to report Q2 earnings. An adjusted earnings per share of $0.09 and sales of $4.4 billion are expected, with 10% sales growth. The company faces high competition and lower prices. Li shares have fallen about 43% this year. Shares fell 1% in pre-market after rising 2.4% on Tuesday.

Xpeng (NYSE:XPEV) – Xpeng launched its budget MONA M03 model starting at $16,813, targeting the affordable electric vehicle market in China. With two versions—a basic and an advanced tech one—the MONA M03 will compete in a segment with cars priced between $14,035 and $21,052. Deliveries start early next year. Shares rose 0.5% in pre-market after closing up 6.5% on Tuesday.

TuSimple (NASDAQ:TSP) – TuSimple agreed to pay $189 million to settle a lawsuit over alleged fraud against shareholders, who accuse the company of overstating the safety of its autonomous truck technology and hiding ties to a Chinese rival. The settlement awaits court approval. According to court documents, TuSimple paid $174 million, and its insurers paid $15 million.

Boeing (NYSE:BA) – Ethiopian Airlines leased aircraft due to Boeing’s delays in delivering 737 Max jets and 777 freighters. Waiting since April, the carrier faces challenges in meeting its expansion plans. Boeing has not provided new delivery timelines, impacting the growth of Ethiopian and other airlines.

Ryanair (NASDAQ:RYAAY) – Michael O’Leary, Ryanair’s CEO, criticized Boeing’s new management for delays in delivering 737 MAX aircraft, which may drop to 20-25 planes instead of the promised 29. He expressed frustration with production and deadline compliance, highlighting ongoing problems at Boeing. The airline plans to increase capacity by 8%. Ryanair expects lower fares and promotions from December to February to attract passengers affected by high interest rates. Shares rose 0.9% in pre-market.

Delta Air Lines (NYSE:DAL) – The US Occupational Safety and Health Administration is investigating the death of two workers and the severe injury of a third in a Delta aircraft maintenance accident at Atlanta airport. The accident occurred during the disassembly of wheel components, with no aircraft involved.

Vale (NYSE:VALE) – Brazilian mining company Vale announced Gustavo Pimenta as its new CEO to avoid speculation about other candidates. The early decision, ahead of the December deadline, was well-received by the market, reflected in a 2.6% rise in the company’s shares on Tuesday. Pimenta, the current CFO, will take over later this year. Analysts see the appointment as a win for governance and expect it to reduce uncertainty about the company’s strategy. Shares fell 0.4% in pre-market.

Exxon Mobil (NYSE:XOM) – Exxon Mobil is selling conventional oil assets in the Permian Basin to focus on shale production after acquiring Pioneer Natural Resources. The package, which includes older wells, could fetch about $1 billion, depending on oil prices. Exxon says the sale aligns with its portfolio review strategy. Shares rose 0.1% in pre-market.

Equinor ASA (NYSE:EQNR) – Equinor is reassessing oil and gas resources on the Norwegian continental shelf with new seismic data. The company aims to drill up to 30 wells per year until 2035. With investment plans of up to $5.7 billion annually, production in 2035 is expected to remain at 1.2 million barrels per day. Shares fell 0.8% in pre-market.

Berkshire Hathaway (NYSE:BRK.B), Bank of America (NYSE:BAC) – According to a regulatory filing on Tuesday night, Warren Buffett sold another $982 million in Bank of America shares, reducing his stake by nearly 13% since July. Berkshire Hathaway has generated $5.4 billion from these sales. Berkshire is still the bank’s largest shareholder, with 903.8 million shares worth $35.9 billion.

Bank of America (NYSE:BAC) – Bank of America clients withdrew $4.6 billion from US stocks last week, ending three weeks of continuous buying. Outflows occurred across several sectors, primarily technology and energy. Despite this, ETFs, especially in technology, continued to attract investments, reflecting a shift in investor preferences. Shares fell 0.2% in pre-market.

JPMorgan Chase (NYSE:JPM) – Dollar bond offerings from Indian companies are expected to accelerate, with at least $4 billion anticipated by the end of 2024, as the Federal Reserve signals lower interest rates, according to JPMorgan Chase. Issuances this year could more than double from last year, driven by higher returns and better liquidity conditions.

HSBC Holdings (NYSE:HSBC) – HSBC’s new CEO, Georges Elhedery, is considering cutting layers of middle management, similar to actions taken by Citigroup and Standard Chartered. He may reduce the number of country heads and make changes to the executive structure to streamline operations and cut costs, starting in September. Shares fell 0.6% in pre-market.

UBS Group AG (NYSE:UBS) – UBS Global Wealth Management raised the probability of a US recession from 20% to 25% due to a slowdown in the labor market and weak unemployment data. Despite maintaining a forecast of soft growth, the economic outlook is considered uncertain, especially after employment revisions and an increase in the unemployment rate. Shares fell 0.3% in pre-market.

Banco Bilbao Vizcaya Argentaria (NYSE:BBVA) – BBVA’s Colombian unit issued common stock worth $218 million. 3.24 billion shares were released at 270 pesos each, with a second issuance of 152.7 million shares planned for a future date. The aim is to strengthen capital and support growth in Colombia.

Nasdaq (NASDAQ:NDAQ) – Nasdaq is seeking regulatory approval to launch options based on a bitcoin index. These options would allow investors to amplify and hedge their bitcoin exposure more affordably. The SEC has not yet approved options for individual bitcoin funds, and Nasdaq is awaiting the decision.

Toronto-Dominion Bank (NYSE:TD) – The rising cost of a US money-laundering investigation into the Toronto-Dominion Bank is affecting its credit rating, one of the highest in the world. Moody’s has now placed a negative outlook on the bank, reflecting concerns over potential penalties and the impact on the rating.

Moody’s (NYSE:MCO) – Moody’s warned that a full-blown conflict with Hezbollah or Iran could significantly damage Israel’s credit rating. While the agency expects current tensions not to escalate into a full-scale war, an expanded conflict would negatively impact Israel’s debt.

Prudential Plc (NYSE:PUK) – Prudential Plc saw a 1.4% drop in new business profit in the first half, totaling $1.47 billion, impacted by weak sales in China, Hong Kong, and Indonesia. The company is facing challenges in meeting its growth targets, and shares have fallen 22% this year. Shares rose 2.1% in pre-market.

Eli Lilly (NYSE:LLY) – Eli Lilly launched single-dose vials of 2.5 mg and 5 mg of Zepbound for weight loss at a 50% discount compared to similar medications. Available via LillyDirect, prices are $399 and $549, respectively. The move aims to increase access to treatment and meet high demand. Lilly shares are up 64% this year.

GSK (NYSE:GSK) – The Delaware Supreme Court agreed to review whether the evidence regarding GSK’s drug Zantac, allegedly linked to cancer, is scientifically sound. The court’s decision could affect litigation involving over 70,000 consumers and impact the company’s stock value. Shares fell 1.3% in pre-market trading after closing up 3.8% on Tuesday.

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