Finance
Nvidia Reports $96.2 Billion in Quarterly Revenue, Forecasts $108 Billion for the Current Quarter
The chipmaker's fiscal second-quarter sales rose 106% from a year earlier, and executives told analysts they expect about 70% revenue growth in fiscal 2028, while also guiding gross margins lower on rising memory costs.
Salesforce Reports 10.8% Revenue Growth and Raises Fiscal 2027 Outlook; Shares Rose 12% to 14% in After-Hours Trading
The company said Agentforce annual recurring revenue passed $1.5 billion, while most of its $300 million guidance raise came from two pending acquisitions rather than existing products.
Dick's Sporting Goods Stock Falls 30.68% After Q2 Earnings Miss and Lowered Full-Year Outlook
The retailer reported $5.59 billion in quarterly sales, a $31.9 million loss at newly acquired Foot Locker, and cut its full-year adjusted earnings forecast to $11.00–$12.00 a share from $13.50–$14.50.
BEA Releases July PCE Inflation Report on Aug. 26; Forecasters Had Put Core at 3.2%–3.3%, Two Days Before Warsh's Jackson Hole Speech
The Bureau of Economic Analysis was scheduled to publish the July personal income and outlays report at 8:30 a.m. ET, with economists expecting the Fed's preferred core inflation gauge to stay near 3.2%–3.3%, above the central bank's 2% target.
Alibaba Prices $10.2 Billion Hong Kong Share Sale at 8.4% Discount to Fund AI Spending; Hong Kong Shares Fall 8.5%
Alibaba sold 710 million new shares at HK$112.70 each, below Friday's close, and said all net proceeds will go to AI chips, infrastructure and models.
Samsung Board Approves 90–110 Trillion Won Shareholder Return; Stock Closes Down 8.70% on Aug. 24 as Kospi Falls 3.12%
Samsung Electronics set the largest payout package by a Korean company, but left most of the money's use undecided until January 2027, and Seoul shares fell on the first full trading day after the announcement.
Nevada Regulators Approve Robotaxi Permits for Tesla, Waymo and Uber Unit in Clark County
The Nevada Transportation Authority voted unanimously on August 20 to let Tesla run up to 5,000 driverless vehicles and Waymo and Uber's Aviari up to 1,000 each, replacing a 10-vehicle cap set on Tesla in July.
Bloomberg: AI Server Prices to Rise More Than 15% on Early-2027 Shipments as Memory Costs Climb
Bloomberg reported August 22 that buyers of servers built around Nvidia's Vera Rubin and Grace Blackwell chips were told to expect increases above 15% on systems shipping early next year, four days before Nvidia's quarterly earnings report.
Ex-JPMorgan COO Matt Zames Starts as Unpaid Social Security Adviser on Technology Modernization
Zames joins the Social Security Administration as a temporary "special government employee" limited to 130 days of service, working under Commissioner Frank Bisignano, his former JPMorgan colleague.
Bitcoin Closes at $76,943.90 After a 22% Week, Its Biggest Weekly Gain Since 2023
The rally followed a Treasury announcement doubling long-bond buybacks, a White House meeting with crypto executives, about $1.6 billion of spot-ETF inflows over four sessions, and roughly $3 billion in forced closures of bearish bets.
Kansas City Fed's Jackson Hole Symposium Runs Aug. 27-29, With Warsh's First Keynote as Fed Chair on Aug. 28
The Federal Reserve Bank of Kansas City's annual conference is themed on financial innovation and payments, and comes about three weeks before the Fed's Sept. 16 rate decision.
Coty Reports 1% Revenue Rise and 26% Drop in Quarterly Adjusted EBITDA, Withholds Full-Year Fiscal 2027 Forecast
The beauty company's fourth-quarter sales of $1,269.2 million topped analyst estimates, its adjusted loss of $0.02 per share missed them, and management declined to give an annual outlook, calling fiscal 2027 a "transition year."