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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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April 22, 2015
18:27 EDTNVDASemiconductor stocks under pressure after TI, Qualcomm report financial results
Semiconductor stocks are under pressure after earnings reports from Texas Instruments (TXN) and Qualcomm (QCOM). TEXAS INSTRUMENTS: TI reported first quarter results that were lower than analyst expectations, and gave second quarter guidance below consensus estimates. In its Q1 earnings press release, Texas Instruments said its outlook for Q2 is for earnings per share between 60c-70c and revenue in the range of $3.12B-$3.38B. "Our estimates assume continuing weakness in our communications equipment and personal electronics markets, particularly for wireless infrastructure equipment and PCs, respectively. We also do not expect a near-term rebound in foreign currency exchange rates. The annual effective tax rate for 2015 is expected to be about 30%." QUALCOMM: Qualcomm reported Q2 results that were better than analyst's average estimates, but lowered its fiscal year 2015 EPS and revenue views. Qualcomm CEO Steve Mollenkopf said, "While we remain confident in the significant growth opportunities ahead, we are reducing our QCT outlook for fiscal 2015, primarily due to the increased impact of customer share shifts within the premium tier and a decline in our share at a large customer." PRICE ACTION: In after-hours trading, shares of Texas Instruments are down over 6%, while Qualcomm shares are down almost 3%. Other publicly traded companies in the space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), NVIDIA (NVDA), Altera (ALTR), Xilinx (XLNX), and Maxim Integrated (MXIM).
April 15, 2015
09:55 EDTNVDABofA/Merrill U.S. autos analysts hold an analyst/industry conference call
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