Friday, August 16, 2019
Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe
WHAT TO WATCH
Chip giant Nvidia reported a beat on both the top and bottom lines during its fiscal second quarter. Nvidia’s gaming segment revenue, which was being closely monitored, also beat Wall Street estimates. The stock jumped 7% in after-hours trading. However, Nvidia’s fiscal third quarter revenue guidance missed expectations. The chipmaker expects revenue to total $2.9 billion, lower than estimates for $2.97 billion in revenue during Q3.
Rival chipmaker Applied Materials also posted a beat on the top and bottom lines during its third quarter. The company’s fourth quarter adjusted earnings per share and revenue estimates also matched Wall Street expectations. Applied Materials expects adjusted EPS between 72 cents per share and 80 cents per share, estimates were for 75 cents per share. The company anticipates sales between $3.38 billion and $3.68 billion, and expectations were for $3.63 billion in sales during Q4.
Meanwhile, Deere & Co (DE) will deliver quarterly results ahead of the open. The industrial giant is expected to post adjusted earnings of $2.84 per share on $9.38 billion in revenue.
Savers targeted with ads on Google for 'bonds' that put all their money at risk: Brits searching for savings deals were still being targeted with ads for products that could leave them open to unexpected losses, Yahoo Finance UK can reveal. An investigation by Yahoo Finance UK found Google (GOOG) searches for terms like “high interest savings,” “high interest savings accounts,” and “high interest savings accounts uk” returned adverts for mini-bonds, a form of high-risk debt product. Google said it was reviewing the adverts after Yahoo Finance UK approached the company for comment. [Yahoo Finance UK]
GE's next chapter is Chapter 11: whistleblower: Harry Markopolos is dusting off the legendary whistle he blew on Ponzi schemer Bernie Madoff years ago and is now tooting it out front of GE’s Boston-based headquarters. In a scathing new 170-plus page research report, the financial fraud expert and certified financial analyst (CFA) alleges GE is committing accounting fraud. “I believe I have a few smoking guns on GE,” Markopolos told Yahoo Finance. [Yahoo Finance]
Also: Markopolos claims of GE fraud 'could take the company down': ERShares CEO Joel Shulman [Yahoo Finance]
China preps plan to boost disposable income by 2020: China's state planner said on Friday it will roll out a plan to boost disposable income this year and in 2020 to spur consumption as the economy slows. [Reuters]
Donald Trump wants to buy the country of Greenland: US president Donald Trump is interested in buying the country of Greenland, according to a new report. The move, which would see the US acquire the island — the world’s largest — from Denmark, has been floated repeatedly by Trump in meetings, dinners, and passing conversations, according to unnamed sources cited by the Wall Street Journal. [Yahoo Finance UK]
MORE FROM YAHOO FINANCE
To ensure delivery of the Morning Brief to your inbox, please add firstname.lastname@example.org to your safe sender list.