Market Roundup: NVIDIA (NASDAQ:NVDA), General Motors (NYSE:GM), SolarCity Corp (NASDAQ:SCTY), T-Mobile US Inc (NYSE:TMUS)

Posted In Business, Technology - By David Francis On Friday, August 8th, 2014 With 0 Comments

Dallas, Texas 08/08/2014 (ustradevoice) – NVIDIA (NASDAQ:NVDA) smashes estimates and posts bullish revenue outlook for 3Q

Graphics chips maker NVIDIA Corporation (NASDAQ:NVDA) reported its 2Q2014 after the market Thursday whereby it posted beating earnings and revenue. The positive results changed the direction of the stock’s trading in the post-market session such that it gained 4.41 percent in the afterhours trading, reversing 1.02 percent fall in the regular session. NVDA reported revenue of $1.1 billion, up 13 percent. Net income was registered at $128 million or 22 cents a share, up 16 percent from the like quarter in the prior year. Earnings surpassed expectations while revenue was in-line with Wall Street estimates. The company expects to generate revenue in the range of $1.18 – $1.22 billion in 3Q, ahead of $1.16 billion that is the consensus estimate.

General Motors (NYSE:GM) withholds details in new Chevrolet Volt

General Motors Company (NYSE:GM), the largest U.S. automaker, will launch an improved version of its slow-selling hybrid car, Chevrolet Volt, next January. However, the company did not update on the pricing or even range of the next generation Chevrolet Volt. Consumers have been asking for range increase in the car.

SolarCity Corp (NASDAQ:SCTY)’s loss more than double in Q2

SolarCity Corp (NASDAQ:SCTY) reported a mixed 2Q as the company said costs were high in the quarter that they masked revenue growth. It posted a net loss of $88.5 million, which compared with $41.1 million in the like quarter last year. Revenue rose 62 percent to $61.3 million. The company’s customer-base more than doubled in the quarter compared to the same period last year.

T-Mobile US Inc (NYSE:TMUS) remains a top pick even with Sprint’s deal blow

The U.S. No.4 carrier T-Mobile US Inc (NYSE:TMUS) remains a top pick stock for analysts at Credit Suisse, and they pointed out that the decision by Sprint Corporation (NYSE:S) to withdraw its pursuit for the company only clears the way for other suitors. They think the stock is worth $39 as a self-contained company. T-Mobile also recently claimed that its prepaid subscribers are now more than those at Sprint.

About the Author

- David Francis earned a bachelor of arts degree in history from the New Orleans University and a master of arts degree in international relations from North Eastern University

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