NVIDIA Stock Soars After Analyst Boost! #stockmarket #trading #nvda

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NVIDIA Corp (NVDA)
+1.41%

Trading higher premarket after receiving a positive analyst note from Evercore ISI. The analyst raised its price target for Nvidia from $145 to $150 ahead of its earnings report on August 28, asserting that concerns over potential delays in the Blackwell system are exaggerated. The note emphasized strong demand for Nvidia's systems and growth opportunity in capital expenditure.


Intel Corp (INTC)
+1.00%

Lip-Bu Tan, a semiconductor industry veteran and current Executive Chairman of Cadence Design Systems, has stepped down from the company’s board, as per a filing from Intel. His departure, previously reported by Bloomberg, comes shortly after a disappointing earnings report during which Intel suspended its dividend and announced plans to reduce its workforce.


+0.94%

Trading higher premarket after Reuters reported that Chinese entities are accessing advanced AI technologies through cloud services provided by companies like Amazon via Chinese intermediaries. According to tender documents from Chinese databases, this technology is being sought out by 11 Chinese entities minimum, with four of the entities identifying AWS as their provider. This strategy highlights the lengths to which Chinese entities are going to secure cutting-edge AI capabilities amid increased US export controls.


Chinese ADRs
+2.56%

Trading higher premarket as a group. The South China Morning Post reported that Alibaba is changing its Hong Kong listing status to make its shares eligible for trading by mainland China's 220 million investors through the Stock Connect program. This move, pending approval, is expected to boost Alibaba's trading volume and liquidity, fulfilling a long-standing goal of sharing capital gains with domestic Chinese investors. Separately, Bilibili is trading sharply higher following its earnings report on Thursday; Bernstein raised its price target for the stock from $12 to $13.

KWEB, BABA, BILI, BIDU, LI, NIO, XPEV, PDD, JD


Uranium-Related Stocks
+3.07%

Trading higher as a group after Kazatomprom, the world's largest uranium producer, reduced its 2025 production target by 17% due to project delays and sulphuric acid shortages, potentially tightening global uranium supply. This reduction is expected to exert upward pressure on uranium prices, which remain historically high despite softening from recent peaks.

URA, SMR, CCJ, UEC


Uber and General Motors
+0.26%

On watch as a pair following the announcement that General Motors-backed Cruise will offer its autonomous vehicles on Uber's ride-hailing platform starting in 2025. This multiyear partnershiip comes as Cruise seeks to regain momentum in the robotaxi market, while Uber continues to focus on its core ride-hailing and food delivery businesses after selling its self-driving division in 2020. Shares of General Motors traded higher immediately following the post-market announcement on Thursday, while Uber shares traded sharply lower.

UBER, GM


CAVA Group Inc (CAVA)
+8.84%

Trading higher premarket following its earnings report. Sales of $233.495 million exceeded estimates of $2.18.215 million, and GAAP earnings of $0.17 per share beat estimates of $0.12. The company noted 14.4% same-store sales growth during fiscal Q2, which included a 9.5% increase in restaurant traffic. CAVA also raised its adjusted EBITDA and same-store sales growth guidance for fiscal 2024.


Rocket Lab USA Inc (RKLB)
+3.99%

Trading higher premarket after announcing that Kenneth Possenriede, former CFO of Lockheed Martin, has been appointed to the company’s board of directors. The stock has a short float of approximately 10.7%.


Sequans Communications SA (SQNS)
+137.24%

The company’s US-listed shares are gapping up following the announcement of its preliminary Q2 results. Sequans reported preliminary revenue of $9.7 million, above the $9.2 million reported for Q2 2023, while losses per share of $0.09 are expected to be narrower than last year’s 10-cent loss. Additionally, the company has agreed to sell its 4G IoT technology to Qualcomm.
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