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Coffee With Greta: After NVDA


DJIA Futures: +208 (+0.5%)

SPX Futures: +68 (+1.4%)

NASDAQ Futures: +363 (+2.1%)

Good morning friends!

Futures are rallying as tech stocks jump on the heels of Nvidia’s strong earnings report.

Let’s get right to it!

Nvidia Rallies On Blockbuster Quarter 

Nvidia (NVDA) shares are rallying 11.8% ahead of the open after crushing quarterly estimates yet again.

Here’s how the chipmaker’s results compared to analysts’ expectations: 

  • Adjusted EPS: $5.65 vs $4.64 expected
  • Revenue: $22.10 billion vs $20.62 billion expected

EPS surged 769% year over year while revenue jumped 265%.

The company said, “Strong demand was driven by enterprise software and consumer internet applications, and multiple industry verticals including automotive, financial services, and healthcare

Nvidia forecast Q1 sales of $24 billion vs $22.17 billion expected. 

CEO Jensen Huang expressed optimism the company will continue to expand through 2025 and beyond saying, “Fundamentally, the conditions are excellent for continued growth.”

Rivian Plunges On Earnings Miss, Weak Guidance

Rivian (RIVN) shares are tumbling 19.2% in premarket trade after missing Q4 expectations and issuing weak guidance.

Here’s how the electric vehicle maker’s results compared to analysts’ estimates: 

  • Per share loss: $1.58 vs $1.35 expected
  • Revenue: $1.3 billion, as expected

Rivian forecast production will total 57,000 vehicles in 2024 vs 81,700 expected and down from 57,232 in 2023. 

The CEO said, “We firmly believe in the full electrification of the automotive industry, but recognize in the short-term, the challenging macro-economic conditions.”

Rivian also announced it will cut its workforce by 10%.

Moderna Pops On Surprise Profit

Moderna (MRNA) shares are up 6.1% ahead of the open after reporting a surprise profit in the fourth quarter. 

Here’s how the pharmaceutical giant’s results compared to analysts’ estimates: 

  • EPS: $0.55 vs $0.97 loss expected
  • Revenue: $2.81 billion vs $2.5 billion expected

The company’s Covid vaccine sales dropped 43% year over year.

Moderna booked $6.7 billion total in revenue from the Covid vaccine in 2023, down from $18 billion in 2022.  

The CFO said, “We started to see some fruits of productivity in the fourth quarter, and so that’s what we’re happy about.”

Moderna reiterated its 2024 guidance for revenue of roughly $4 billion.

Weekly Jobless Claims

Weekly jobless claims fell more than expected last week as the labor market continues to maintain strength. 

The Labor Department reported 201,000 Americans filed initial claims for unemployment benefits. 

That was down by 12,000 from the week before and lower than 216,000 expected. 

It was the lowest level of claims in five-weeks. 

Continuing claims also fell by 27,000 to 1.86 million in the week ending February 10.

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