🚀 Nvidia beats earnings expectations

Market Overview
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Year To Date Performances:

1. Nvidia once again crushed Wall Street estimates, posting $46.7 billion in quarterly revenue and $1.05 per share in adjusted earnings, while guiding for 50%+ sales growth in the current period. Yet shares slipped after hours as data center revenue, the core of Nvidia’s AI dominance, came in just shy of expectations for the second straight quarter, reflecting the absence of sales of its H20 chips to China. Still, Nvidia’s Blackwell processors and networking gear are fueling tens of billions in orders from tech giants, and the company now projects trillions in global AI infrastructure spending by decade’s end. With net income up 59% year over year and a fresh $60 billion buyback authorization, Nvidia’s fundamentals remain blisteringly strong, but investor expectations may be even higher.

2. Dick’s Sporting Goods topped Wall Street’s second-quarter estimates and raised its full-year earnings guidance, pointing to strong growth in both customer transactions and average ticket size. Comparable sales rose 5%, easily outpacing expectations, while net income climbed to $381 million as margins improved despite higher tariffs. The retailer also reiterated plans to close its $2.4 billion acquisition of Foot Locker in September, a move that could make it the top U.S. athletic footwear seller but also exposes it to Foot Locker’s ongoing struggles. Executives struck an optimistic tone, saying the deal will enhance Nike partnerships and long-term competitiveness, even as investors weigh the risks of absorbing a weaker rival.

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4. Best Buy posted stronger-than-expected revenue and earnings in its latest quarter, marking its best comparable sales growth in three years. However, the retailer maintained its full-year outlook unchanged amid tariff uncertainty and cautious consumer spending. Net income slipped to $186 million from $291 million a year earlier, while adjusted earnings per share of $1.28 beat analyst forecasts. Comparable sales rose 1.6%, fueled by demand for mobile phones, gaming equipment, and computers, though appliance and home theatre sales lagged. Online sales jumped 5.1% and now make up a third of U.S. revenue, and the company launched a new third-party marketplace to expand its product range. Still, management warned that higher tariffs, weaker housing activity, and selective shopping behaviour remain headwinds to a sustained turnaround.

   Headlines

   1. Trump has fired CDC Director Susan Monarez, prompting four other high-ranking health officials to resign.

   2. Microsoft announced it fired two employees who were part of a group of protesters that broke into the company’s president’s office.

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