On this episode of Stock Movers:
- Nvidia (NVDA) shares are lower this morning after it gave a revenue forecast of roughly $54 billion for the fiscal third quarter, in line with the average Wall Street estimate but lower than some analysts' projections. The company's leadership rejected the notion that interest in deploying AI infrastructure was flagging, with Chief Executive Officer Jensen Huang saying "the opportunity ahead is immense" and predicting $3 trillion to $4 trillion in AI infrastructure spend by the end of the decade.
- Snowflake (SNOW) is gaining after the company gave a strong outlook, overcoming anxiety that software vendors will be hurt as the economy slows and new artificial intelligence companies take away business. The company has worked to develop products that make it easier to use generative AI on data stored in its platform, with newer products outperforming expectations on revenue contribution in the quarter.
- Burlington Stores (BURL) is surging after it reported a strong quarter and raised full year guidance. The shares are off on the year, but did boost a new outlook for the third quarter.
- Build-A-Bear Workshop (BBW) shares are also higher on an earnings beat as it sis accelerating growth earnings.
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