Diamonds and Dogs
The chips are making a comeback. NVIDIA Corp (NVDA) was one of the few stellar stand outs today up over 15% to a new 52 week high following better than expected earnings. Nvidia posted $1.3 billion in revenue on earnings of 46 cents per share, flying past Wall Street's estimates of $1.15 billion in revenue and 32 cents per share. The automobile market has been a solid source of growth for the company, but the data center sector was the shining star in the past quarter. Data center unit grew 63%, the auto market increased 47% and gaming went up 17% during the latest quarter. Two analyst this morning upgraded the stock to a "buy" rating.
Do you order clothes online or go to the store to buy them? Traditional retailers are struggling right now as online sales continue to shine. Recent dogs in the retailer space include Gap, Fossil, Macys, Target, Walmart, JC Penney, Fitbit, and Aeropostale filing for Chapter 11. Nordstrom (JWN) is the latest down 13% close to a 52 week low on disappointing earnings. The street expected 45 cents per share, but the company reported 26 cents per share. Revenue was below expectations as well. Brick and mortar stores are having trouble getting people in the stores to buy their goods, especially when people are always on the internet with the opportunity of one click buying.