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Nvidia Blows Past Earnings And Announces 10:1 Stock Split

NVDA / Snowflake earnings | Updated US median home prices | FOMC meeting minutes

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The One Read
May 22, 2024

Welcome Back,

Market Headlines 👀 

  • US existing home sales fell to 4.14m last month, down 1.9% MoM. Median home prices rose to $407,600.

  • US Federal Reserve released its most recent FOMC meeting minutes today.

  • Amazon (AMZN) company is planning a overhaul of its Alexa product which will also come with a new monthly fee.

  • Nvidia (NVDA) reports a top and bottom line beat along with announcing a 10:1 stock split.

Earnings 💸

  • Nvidia (NVDA)

    • EPS: $6.12 beats (exp. $5.58)

    • Revenue: $26b beats (exp. $24.59b)

  • SnowFlake (SNOW)

    • EPS: $0.14 misses (exp. $0.17)

    • Revenue: $789.6m beats (exp. $785.9m)

  • Target (TGT)

    • EPS: $2.03 misses (exp. $2.05)

    • Revenue: $24.14b beats (exp. $24.13b)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Nvidia earnings snapshot (contributed by Brad Freeman @Stockmarketnerd):

Market Preview 🎞️ 

  • Thursday, May 23rd: Weekly jobless claims; US new home sales

  • Thursday earnings: Workday (WDAY),and Bjs (BJ)

  • Friday, May 24th: US durable goods; University of Michigan consumer sentiment

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