It's finally Friday.
Action Alerts PLUS senior analyst Jeff Marks joins TheStreet to break down some of the top headlines in the market.
Adjusted earnings in Nvidia's first quarter were 88 cents a share, beating forecasts by 30 cents. Revenue fell to $2.22 billion from $3.21 billion a year ago and came in roughly in-line with forecasts of $2.2 billion. Gaming revenue of $1.06 billion beat forecasts, while data center revenue declined 10% from a year earlier to $664 million.
Last night, right before the earnings call, shares of Nvidia were up nearly 7%. However, after the call started and CFO Collette Kress disclosed that Nvidia would be going from yearly guidance to quarterly guidance, shares were only up around 2%.
The adjusted loss in the quarter narrowed to 32 cents a share from 38 cents a year earlier but was wider than forecasts that called for a loss of 11 cents.
Revenue in the first quarter rose 54% to $202 million, ahead of analysts' estimates of $200.7 million.
The company promptly fell 15% in after-hours trading Thursday night.
Luckin's Gearing Up for Its IPO
Luckin Coffee's (LK) - Get Report initial public offering was priced at the higher end of its target range, setting up a debut Friday on the Nasdaq that will value the China-based rival to Starbucks (SBUX) - Get Report at more than $4.2 billion.