Phew. It has been a week.
Jim Cramer is out this morning, so filling in is Jeff Marks, Action Alerts PLUS senior portfolio analyst.
It's safe to say that this week has been exhausting for investors.
With such volatility in the markets--in case you missed it, we closed down 800 points on Wednesday, Aug. 16--many investors may be feeling anxiety going into next week.
But, let's focus on today.
Marks gives his advice for what investors need to watch during Friday's session.
Real Money Stock of the Day Nvidia NVDA reported earnings after the bell Thursday night.
Nvidia reported earnings of $1.24 per share, beating analyst expectations of $1.15 per share. Nvidia reported group revenue of $2.58 billion, just ahead of analysts' forecasts of $2.55 billion.
"We're happy with our results this quarter and our return to growth across our platforms. Gaming is doing great. It's great to see NVIDIA RTX reinvigorating the industry. GeForce has several growth drivers," Jensen Huang, CEO, told investors on a conference call Thursday. "Ray traced games continue to gain momentum. A large number of gaming laptops are rolling out, and our new Studio platform is reaching the largely underserved community of creators."
So, what should investors take away from Nvidia's report? Here's what Marks suggests.
GE made headlines yesterday after Madoff whistleblower Harry Markopolos published a 175-page report alleging accounting fraud.
Markopolos said he found that its insurance unit would need an $18.5 billion boost to its reserves. He also told that paper that other accounting issues, including in its oil and gas business, would amount to around $38 billion.
He called GE a "bankruptcy waiting to happen."
Early Friday morning, GE CEO Larry Culp bought around 252,000 shares of GE at $7.92 a share for around $2 million total.
Culp's share purchase follows his statement from Thursday where he said, "GE will always take any allegation of financial misconduct seriously. But this is market manipulation - pure and simple."
With all of that said, should GE investors feel reassured by Culp?
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