Investors brace for a $200 billion rollercoaster as Nvidia Corp.’s earnings report looms, with options signalling a potential 10.6% swing in the chip giant’s shares.
2023 has investors steadying themselves for a gloomy earnings season – likely to stretch the dominance of value stocks.
Goldman lowered earnings estimates for the S&P 500 Index, saying margins contraction in the third-quarter signals more pain ahead.Â
The company reported quarterly revenue of $27.7 billion, down more than 4% from a year ago, after posting a 1% decrease last quarter. Meta’s share price fell on Wednesday, amid a broad selloff of tech shares, and is now trading at a price last seen in 2017.
Wall Street fears that even after this year’s brutal selloff, stocks have yet to price in all the risks stemming from central banks’ aggressive tightening as inflation remains stubbornly high.
Markets have been resilient. That is in part because companies are still expected to report modest earnings growth through the rest of the year.
2018 was a transformational year for Shoprite, whose interim results were affected by a number of factors.
Anglo American, the world’s biggest producer of diamonds and platinum, said profit more than doubled last year as commodity prices soared, meaning the company no longer needs to sell assets to reduce debt.
Apple reported quarterly revenue that topped analyst projections, fuelled by demand for the company’s latest and priciest iPhones.
Sony on Wednesday said it would lose $2.14 billion this fiscal year, more than four-times its earlier forecast as the Japanese electronics giant blamed a downturn in its mobile phone business. The estimated net loss of 230 billion yen in the fiscal year to March 2015 came as a surprise only months after it tipped … Read more