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CoreWeave’s financial report and outlook were better than expected, boosting U.S. stocks in early trading. HUIDA also bounced back from consecutive losses, but it still faces regulatory and operational uncertainties.
US stocks Generally up in early trading on the 11th, benefiting from the strong rise in Corewave’s share price, andHuida (Nvidia) bounced back after two consecutive trading days of decline. Of the four major indexes, only the Dow Jones Industrial Average fell.
The Dow Jones Industrial Average fell 0.1% and changed from red to black in early trading, the S&P 500 index rose about 0.9%, the Nasdaq index rose 1.5%, the Philadelphia Semiconductor index rose nearly 4% and TSMC ADRs jumped 4%.
The stock price of CoreWeave, an emerging cloud services provider, rose nearly 15% after it showed its third-quarter revenue was better than expected and it raised its full-year revenue and operating profit outlook.
HUDA shares jump 3% in early trade, shock to CEOJen-Hsun Huang The stock price fell nearly 10% in the first two trading days of this week after he admitted having an extramarital affair with a woman suspected of being a spy.
However, Baird analyst Tristan Gera lowered Huida’s share price rating to “neutral” in a research report titled “The Rise and Fall of Icarus; The Company Will Be Safe” on the 11th.
Guerra said HUIDA currently faces a number of uncertainties, including congressional hearings that could prompt the U.S. government to take action, government investigations that have not been released, and whether Huang Renxun could be renewed as CEO. Furthermore, it remains to be clarified how much impact adjustments to sales channels will have on revenues due to potential related expenses as well as risk considerations in the short term. Until these concerns are addressed, he downgraded Huida’s stock rating to “neutral”.
Summary FAQ
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Because CoreWeave announced that its third-quarter revenue performance was better than market expectations, and it also raised its full-year revenue and operating profit outlook, investors were more confident in its growth momentum, and its share price soared nearly 15%.
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In early trading, the Dow Jones Industrial Average changed from red to black, down 0.1%; The S&P 500 index rose about 0.9%; The Nasdaq index rose 1.5%; The Philadelphia Semiconductor Index rose nearly 4%, and TSMC ADRs also jumped 4%.
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Although Huida gained 3% in early trading, analysts believe there are still uncertainties such as congressional hearings, government investigations, CEO departure, as well as channel adjustments and related expenses, so they downgraded the rating to neutral.
