Diamonds and Dogs


From Dog to Diamond, Nvidia (NVDA) now trading higher. The chipmaker is up 5% following lackluster earnings.  Nvidia is facing disruptions from the Chinese lockdowns and the war in Ukraine. Nvidia is also seeing slowing gaming sales, but data centers continue to show robust demand growing 60-70%. A number of analysts reiterated buys.

A downgrade hits Heinz (KHC). Kraft Heinz is down 7% as the UBS analyst downgraded the stock to a Sell contending the company will face one of the highest inflationary pressures over the next 12 months, increasing their need to take another round of price hikes this year. Heinz has already pulled back significantly on promotions and will face the risk that consumers trade down to private labels.

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