Nvidia's Lukewarm Response, LSE's £3B Buyback, More
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What recent developments have impacted Nvidia's stock performance?
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News when you want it with Bloomberg News Now. I'm Caroline Hepker.
How does Nvidia's earnings forecast compare to analyst expectations?
And I'm Stephen Carroll.
Investors have been left unimpressed by the latest blowout earnings forecast from Nvidia. The dominant maker of AI chips says that its revenue in the current quarter will be about $78 billion. That's well ahead of the almost $73 billion that analysts had expected. However, that wasn't enough to excite markets with shares little changed in post-market trading. Daniel Newman is CEO of technology research firm the Futurum
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 also failed to impress investors.
What are the implications of Salesforce's lukewarm sales outlook?
The software giant has become a poster child for what's been dubbed the AI scare trade. Salesforce's shares have dropped about 37% in the past year, as investors fear that AI will make it easier to build competing products.
Cuban forces say they have killed a number of people who have 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 that the occupants were armed and intended to enter the country to fight against the government. U.S. Secretary of State Marco Rubio said officials are looking into the incident.
I'm not even going to speculate as to what it could have been. It's a wide range of things. Suffice it to say, it is highly unusual to see shootouts in open sea like that. It's not something that happens every day. It's something, frankly, that hasn't happened with Cuba in a very long time. But we're going to find out. We're not going to base our conclusions on what they've told us.
What key factors contributed to the London Stock Exchange's £3 billion buyback?
Marco Rubio speaking there as the episode threatens to escalate an already tense standoff between the U.S. and Cuba.
Now to earnings news this morning. The London Stock Exchange Group has unveiled a new £3 billion share buyback as it announced its latest results. El Seg reported total income for the full year of £8.99 billion, meeting average analyst estimates. The earnings also come after it emerged that the activist hedge fund, Elliott Investment Management, had taken a significant stake in the firm. The increased buyback, though, falls short of the £5 billion programme that Bloomberg News reported Elliott was pushing for earlier this month.
And WPP has announced plans to cut annual costs by half a billion pounds by 2028 as part of sweeping restructuring aimed at strengthening its AI capabilities. The move comes as the British-based advertising giant reported full year earnings that fell short of estimates. The company is also slashing its 2025 dividend by 62% to 15 pence per share, down from 39.4 pence in 2024 onwards. Once the world's largest advertising agency, WPP has seen its share price fall over 65% over the past year as it struggles with the loss of several major clients. WPP shares opening up 2% in London.
The carmaker Stellantis has swung to a loss in the second half of last year after it scaled back an electric vehicle push. The company behind brands like Chrysler, Citroën and Peugeot reported an adjusted loss of just under €1.4 billion for the six months. That's after write-downs of over €25 billion last year linked to bets on EVs that were destined to be unprofitable.
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Chapters
7 chapters
1
What recent developments have impacted Nvidia's stock performance?
0:00–0:32
2
How does Nvidia's earnings forecast compare to analyst expectations?
0:32–1:28
3
What are the implications of Salesforce's lukewarm sales outlook?
1:28–2:31
4
What key factors contributed to the London Stock Exchange's £3 billion buyback?
2:31–4:49
5
How is WPP restructuring to enhance its AI capabilities?
4:49–6:35
6
What financial challenges is Stellantis facing in the electric vehicle market?
6:35–8:09
7
What recent sanctions have the US imposed on Iranian entities?
8:09–9:10
Speakers
9 identifiedMore from Bloomberg News Now
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