Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
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And I'm Stephen Carroll.
Investors were left unimpressed initially by the latest blowout earnings forecast from Nvidia. The dominant maker of AI chips says its revenue in the current quarter will be about $78 billion, well ahead of the almost $73 billion analysts had expected. However, that wasn't enough to excite markets with shares little changed in post-market trading, now up 1% in pre-market trading.
Daniel Newman is CEO of technology research firm The Futurum Group.
I think the market has been in this bit of an uncertain space, almost in between whether AI is a bubble or AI is so valuable that it is going to disrupt and basically eliminate entire industries. But Nvidia sits in this really good position where it's providing the quote-unquote arms for this revolution.
Newman's assessment comes as Salesforce delivered a lukewarm sales outlook that failed to impress investors as well. The software giant has become a poster child for what's been dubbed the AI scare trade. Salesforce shares have dropped about 37% over the past year as investors fear AI will make it easier to build competing products.
Cuban forces say they've killed a number of people who opened fire from an American registered speedboat. The country's interior ministry said the vessel, which had 10 people on board, approached the Cuban coast. Four were killed in the confrontation, while six others were injured and are now understood to be in custody.
Cuban authorities claim the occupants were armed and intended to enter the country to fight against the government. U.S. Secretary of State Marco Rubio says officials are looking into the incident.
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Chapter 2: Why were investors unimpressed by Nvidia's earnings forecast?
The move comes as the British-based advertising giant reported full-year earnings that fell short of estimates. The company is slashing its 2025 dividend by 62% to 15 pence, down from 39.4 pence in 2024. one of the world's largest advertising agencies. WPP has seen its share price fall 65% over the past year as it struggles with the loss of several major clients.
The shares are down 8% this morning.
The London Stock Exchange Group has seen its shares rise over 5% after it unveiled a new Ā£3 billion share buyback as it announced its latest results. LSEG reported total income for the full year of almost Ā£9 billion, meeting analysts' estimates. The earnings also come after it emerged the activist hedge fund Elliott Investment Management had taken a significant stake in the firm.
When asked about the investment, CEO David Schwimmer said the group remains receptive.
So as my kids like to say, pressure is for tires. We have lots of shareholders. Some of them are more vocal than others. We listen to all of our shareholders. We're happy to engage with our shareholders.
Stock Exchange Group's David Schwimmer there speaking to us on Bloomberg Radio this morning. The gains in Elsec's shares today are the most since the 11th of February when Elliot's investment in the company first became public.
And shares in Rolls-Royce are up more than 8% at the market open, hitting a record high. This is the British manufacturer announced a share buyback of up to Ā£9 billion over the next two years. Soaring demand for aircraft engines and data centre power systems is proving to be a boon for the company.
Rolls-Royce says it now expects underlying operating profit to reach as high as Ā£5.2 billion by 2028. And those shares now up only 5.6%.
US and Iranian officials are meeting in Geneva today for the latest round of nuclear talks. Ahead of those discussions, the US government imposed sanctions on more than 30 entities that support Iranian oil and weapons sales. Republican Senator Steve Davies says Iran's leadership presents a threat.
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Chapter 3: What factors contribute to Nvidia's position in the AI market?
According to the U.S. Office of Foreign Assets Control, individuals and entities across the Middle East that helped Tehran develop advanced weapons have been blacklisted. In his State of the Union address, President Trump claimed Iran was working to reconstitute its nuclear program even as it negotiates with Washington.
Well, those are your top stories this morning on the markets. The stock 600 is deceptively flat to the upside, but lots of action beneath the surface when it comes to the earnings picture, as we've said. On Wall Street, S&P E-mini futures are flat to the downside after those Nvidia earnings yesterday, and we shall discuss those in just a moment.
But in your bond space, the 10-year Treasury yield is also steady at 4.04%. That's news when you want it with Bloomberg News Now. I'm Lizzie Burden.
And I'm Stephen Carroll. And this is Bloomberg.
As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth. The news doesn't stop on the weekends. Context changes constantly. And now Bloomberg is the place to stay on top of it all.
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