NVIDIA and HPE Show Positive Earnings Forecast Revisions

The report highlights movements in major stocks after hours, focusing on NVIDIA and Hewlett Packard Enterprise, both benefiting from upward revisions in their earnings forecasts. This may influence investor sentiment and stock prices in the near term.

Date: 11-09-2024

AI Rating: 7

The after-hours trading session reflected movements among key stocks, with NVIDIA Corporation experiencing a minor decline of -0.41, settling at $107.69 after circa 6.4 million shares traded. However, the company has seen a favorable trend with 9 up revisions for its earnings forecast for the fiscal quarter ending October 2024, with a consensus EPS forecast of $0.69. This positive revision indicates strong analyst confidence in NVIDIA’s earnings potential, which could bolster investor sentiment and drive share price growth going forward.

In contrast, Hewlett Packard Enterprise Company registered a slight increase of +0.03 to $16.13, backed by 3 upward revisions for its earnings forecast for the same fiscal quarter, also with a consensus EPS forecast of $0.48. This indicates a good outlook for the company and may also positively influence its stock price.

Other notable stocks included in the report showed mixed reactions. AT&T Inc. and Verizon Communications Inc. faced slight declines after reaching 52-week highs earlier in the day, potentially indicating profit-taking among investors. Meanwhile, companies such as Broadcom and Uber Technologies also saw marginal declines, suggesting a cautious trading environment.

Overall, the upward revisions for NVIDIA and HPE suggest a more optimistic outlook for their earnings performance, which could positively impact their stock prices in upcoming trading sessions. Investors generally respond favorably to upward earnings revisions, signaling potential growth and profitability.

Stocks: NVDA HPE AT&T PFE AVGO UBER VZ AAPL GME