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Good morning.
Nvidia shares dropped 5% yesterday on… pretty successful earnings. But that’s classic Nvidia for you.
On the other hand, Snowflake was up 15% today pre-market after it beat both profit and sales expectations in its earnings call. And Google is presenting some interesting (and contradictory) data.
And the “ultimate dip buyer” is here: corporate America. $1 trillion in stock buybacks incoming. We cover which top-tier companies below.
Let’s get to it.
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📰 Market Headlines
Stocks climbed to new records on Wednesday, with the S&P 500 closing at an all-time high.
The Dow rose 0.4%, the Nasdaq added 0.2%, and the S&P 500 gained 0.24%.
Nvidia beat expectations on revenue and EPS, but shares slid over 3% after hours as data center sales came in light at $41.1 billion vs. $41.3 billion expected.
Gaming revenue jumped 49% to $4.3 billion, and Q3 guidance of $54 billion topped forecasts. CEO Jensen Huang said demand for Blackwell chips is “extraordinary,” but China sales remain murky due to shifting export rules.
This could be a dip-buying opportunity for long-term believers in the stock—either way, public sentiment is king in the short term, so we could see further drawdowns. Just remember that reality (read: data) is king in the long term, and Nvidia just broke a sales record.
US companies are racing through buybacks at a record pace, hitting the $1 trillion mark in the shortest time ever. Nvidia just announced plans to repurchase $60 billion in stock, joining recent massive buybacks from Apple ($100 billion), Alphabet, JPMorgan, and others.
Google has quietly axed 35% of managers who oversee small teams over the past year, according to a company executive at a recent town hall. The tech giant has offered buyouts across 10 product areas as it continues pushing for efficiency. AltIndex’s data paints an interesting picture of Google:
Cloud analytics firm Snowflake's stock shot up 13% in after-hours trading after raising its annual product revenue forecast to $4.4 billion. The company is benefiting from accelerated AI adoption and enterprises upgrading their data infrastructure.
CrowdStrike shares tumbled 2.6% after the bell despite earnings beating expectations. Investors soured on the cybersecurity firm's cautious third-quarter revenue outlook of $1.21-$1.22 billion, below analyst estimates of $1.23 billion.
😱 Fear and Greed Index
Markets are looking a bit more greedy today after Nvidia and cybersecurity mainstay CrowdStrike dropped. Is the market seeing buy opportunities?
🤖 AI/Future/Tech News
After protestors stormed Microsoft’s headquarters, President Brad Smith addressed the issue on a smart phone press conference: “Obviously, this was an unusual day.”
Transunion $TRU said that 4.4 million customers’ personal information was stolen by hackers in a data breach.
Hyundai Mobis plunged into humanoid robotics with new R&D ties to Hyundai Motor and Samsung
🪙 Crypto
Spot Ethereum ETFs outpaced Bitcoin with $455 million in daily inflows on Tuesday, versus $88 million, marking the second time this week.
BlackRock's iShares Bitcoin ETF holdings surpassed both Coinbase and Binance with 745,000 BTC.
Tokyo-listed Metaplanet plans to raise $880 million and spend nearly all of it on Bitcoin in the next two months.
🚨 Trending on Reddit
Cracker Barrel chatter exploded on r/WallStreetBets as Redditors debate its potential as the next meme stock. S3 Partners' Ihor Dusaniwsky specifically called it a "battleground stock" with $445 million in long positions facing off against $269 million in shorts, all fueled by volatility from its controversial (and quickly rescinded) logo change. Sentiment is bearish overall at the moment.
GameStop ($GME) chatter is bubbling again. While GME’s been rangebound, Redditors are hyped for Q2 earnings on September 9. Quantum BioPharma’s investment in the company and GameStop’s PlayStation 5 trade-in promo have fueled speculation about a comeback. Some are already posting rocket emojis and “hold the line” GIFs. Sentiment is bullish.
🤫 Insider Trading
📊 IPOs and Earnings
Abercrombie reported Q2 revenue up 6.6% to 1.21 billion, yet shares fell 1.4%.
Smucker posted Q1 revenue of 2.11 billion, down 0.6%, while coffee segment sales climbed 15.1% and pet foods fell 7.9%; shares dropped 4.4%.
Williams-Sonoma lifted its 2025 revenue outlook after posting Q2 net revenue up 2.7% to 1.84 billion, with comparable store sales rising 3.7%.
Urban Outfitters smashed records with Q2 sales skyrocketing 11.3% to 1.50 billion, and shares climbed 2.3%.
Kohl's crushed Q2 expectations with earnings per share of 0.56, nearly double the 0.29 forecast, despite comparable sales dropping 4.2%; the stock soared 20%.
Five Below beat Q2 forecasts with adjusted EPS of 0.81 versus 0.63 expected, and shares rose 1.7% in aftermarket trading.
🚚 Market Movers
Google committed $9 billion to expand its cloud and AI infrastructure in Virginia through 2026.
BlackRock sent a memo to 43 state officials, blasting both parties for politicizing pension fund management. The firm manages $12.5 trillion.
Kroger cut nearly 1,000 corporate jobs after a failed $25 billion Albertsons merger and announced 60 store closures.
Exelixis laid off 130 employees and shut down its Pennsylvania site to consolidate operations in California.
🎙 What Do You Think?
Nvidia sank on positive earnings. Overreaction, or is there a real problem?
🎤️ What you said last time
“She's like the Left's Trump. She moves markets.”
🎪 Crowdfunding Showcase
The $600 billion heavy machinery industry is getting a jolt from RISE Robotics, an MIT-born startup swapping out oil-soaked hydraulics for electric muscle that’s 3x more efficient and just set a Guinness World Record by lifting a pickup truck. With $14 million+ already raised and support from VCs and a major Air Force contract, they’re opening the doors for everyday investors. See how to get in on the action →
🧠 The Missing (Market) Links
The man behind Labubu dolls just made $20 billion in 8 months. Pop Mart stock is up 250%, and he’s now richer than Peter Thiel.
He delivered pizzas for $4.25/hour. Now he owns 270 Papa John’s and runs a business empire across five industries.
Bakkt’s CEO just boosted his stake by 1,575% with a $1.5M buy. What does he know that the market doesn’t?
A Horizon Bancorp director quietly bought $100K in stock after shares dipped. His holdings jumped 69% overnight.
📜 Quote of the Day
“I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.”
📢 We want to hear from you
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⭐️ What did you think of today's edition?
That’s all for today. Did we miss anything? Smash the reply button to let me know.
Cheers,
Brandon & Blake of Invested Inc
Thumbnail image: Mike Mozart, Flickr
The information provided in Stocks & Income is for informational and educational purposes only and should not be construed as financial advice, investment advice, or a recommendation to buy or sell any securities. Stocks & Income is not a registered investment advisor, broker-dealer, or licensed financial planner. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We may hold positions in or receive compensation from the companies or products mentioned. Disclosures will be made where applicable.