Closing Bell: Nvidia Gains, Shopify Jumps, Earnings After the Bell

On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Carol Massar, and Tim Stenovec

-Nvidia (NVDA) shares gain after Advanced Micro Devices gave an underwhelming sales outlook, a sign shareholders expected more of a return from the global expansion of AI data centers.

-Shopify (SHOP) shares gain as much as 24% on Wednesday, bringing the share price to its highest level since January, after the e-commerce giant reported second-quarter revenue that beat the average analyst estimate. The 34% revenue growth for the second quarter also came ahead of the “high-twenties percentage” the company forecast back in May.

- Sandisk (SNDK) stock plunged 47% in July, erasing more than $150 billion in market value, but remains the best performer in the S&P 500 Index this year. The company is expected to report soaring profit and revenue growth, and give a rosy forecast, after tech giants including Amazon.com Inc. and Microsoft Corp. pledged to keep spending heavily on artificial intelligence computing infrastructure. Sandisk's earnings report will test whether strong results are enough to entice investors to buy in again, with Wall Street remaining overwhelmingly bullish on the shares and the average price target implying a gain of about 70% over the next 12 months.

Plus a roundup of some earnings after the bell, including: Expedia, Block, Western Digital, Sandisk

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