Nora Melinda, a Bloomberg TV markets correspondent, delves into exciting stock movements. She highlights how Ross Stores exceeded expectations with strong Q3 results, attracting cash-strapped shoppers. The discussion then shifts to Nvidia, where potential U.S. government talks on H200 chip sales to China spark speculation. Finally, Nora showcases Gap's surprising sales performance, crediting Old Navy and Banana Republic for bolstering the brand, despite a cautious retail environment.
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insights INSIGHT
Discount Retail Gains Momentum
Ross Stores is rallying as consumers gravitate to more affordable, discount retailers ahead of the holidays.
The stock climbed after stronger same-store sales and marketing that attracted cash-strapped shoppers.
insights INSIGHT
Possible Shift On Nvidia Exports
Bloomberg reported U.S. officials are discussing permitting Nvidia to sell H200 AI chips to China, which moved the stock slightly higher.
No final decision has been made and any shipments would require export licenses under 2022 controls.
insights INSIGHT
Gap's Execution Drives Sales Beat
Gap beat sales expectations, bucking broader retail caution, helped by strong Old Navy and Banana Republic results.
Celebrity partnerships and execution helped the company win back customers and lift the stock.
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- Ross Stores (ROST) third-quarter results exceeded Wall Street’s expectations, driven by increased same-store sales and new marketing campaigns that successfully drew in cash-strapped consumers. The Dublin, California-based company boosted its full-year earnings per share guidance to $6.38 to $6.46, compared to the $6.27 estimated by analysts. Shares of the discount retailer traded higher on Friday.
- Nvidia (NVDA) shares spiked on Bloomberg reporting that US officials are having early discussions on whether to let Nvidia Corp. sell its H200 artificial intelligence chips to China, according to people familiar with the matter, a contentious potential move that would mark a major win for the world’s most valuable company. President Donald Trump’s team has held internal talks about H200 chip shipments to the Asian country in recent days, said the people, who requested anonymity to discuss a highly sensitive matter. No final decision has been made, the people emphasized, and it’s entirely possible that the idea remains an internal debate and never results in actual license approvals, which are required under export controls that Washington first imposed in 2022.
- Gap (GAP) said its sales came in stronger than expected, bucking the trend across the majority of retail and restaurant chains that have been warning of consumers’ deepening caution in recent weeks. The retailer follows sales beats by Walmart Inc., Ross Stores Inc., and TJX Cos., the discounter that owns TJ Maxx and Marshalls, showing that chains can still win over consumers despite their deepening caution — as long as they nail execution. The shares rose as much as 8.5% on Friday, the most intraday since May.
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