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News Breaks
August 7, 2014
13:03 EDTNVDAEarnings Preview: Analysts differ with NVIDIA ahead of Q2 earnings report
NVIDIA (NVDA) is expected to report second quarter earnings after the close on Thursday, August 7, with a conference call scheduled for 5:00 pm ET. NVIDIA is a semiconductor manufacturer that produces graphics chips used in personal computers as well as mobile processors used in cell phones and tablets. EXPECTATIONS: Analysts are looking for earnings per share of 20c on revenue of $1.1B. The consensus range is 16c-30c for EPS on revenue of $977M-$1.15B, according to First Call. In its last earnings report, NVIDIA said it expects Q2 revenue of $1.1B, plus or minus 2%, which was higher than analysts' consensus of $1.08B at the time. LAST QUARTER: On May 6, NVIDIA reported first quarter EPS of 29c, which beat the consensus forecast of 17c, on revenue of $1.10B, which beat analysts consensus of $1.06B. The company said that a preliminary draft of its Q1 financial results was inadvertently emailed to an internal distribution list of about 100 individuals. Because of this error, the results were provided to the market in advance of trading as a precaution. STREET RESEARCH: RBC Capital upgraded NVIDIA on May 19 to Outperform from Sector Perform at RBC Capital. On June 19, BofA/Merrill downgraded NVIDIA to Underperform from Neutral. The firm downgraded shares based on rich valuation and peak margins. Price target was $19. Pacific Crest downgraded NVIDIA to Underperform from Sector Perform on June 23. The firm's checks indicated corporate PC demand continued but motherboard manufacturers indicated consumer demand and excess inventory would drive Q3 unit sales down 5-10% quarter-over-quarter and for Q2 VGA high-end card shipments to be down more than 50% quarter-over-quarter. PRICE ACTION: Since issuing preliminary earnings on May 6, shares of NVIDIA are down over 5.6%. During morning trading, shares of NVIDIA are down 0.4% to $17.57.
News For NVDA From The Last 14 Days
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November 23, 2014
17:02 EDTNVDASamsung files complaint aimed at blocking Nvidia chips, Bloomberg says
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November 19, 2014
10:54 EDTNVDANVIDIA discloses Samsung files patent infringement suit
NVIDIA (NVDA) disclosed in a regulatory filing that on November 10, Samsung (SSNLF) filed a complaint against NVIDIA and Velocity Micro, in the United States District Court for the Eastern District of Virginia. The complaint alleges that NVIDIA infringed six patents and falsely advertised that the Tegra K1 processor is the world’s fastest mobile processor. Samsung seeks unspecified damages and an injunction prohibiting NVIDIA from any future violations. NVIDIA has not yet responded to the complaint.
November 17, 2014
07:52 EDTNVDADepartment of Energy awards $425M for supercomputing technologies
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