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A fresh record close for the Dow greets investors as the closing bell sounds this Hump Day, up 424.51 points, or 1.35%. All major indexes were up on the day, as well: S&P 500 +44.05 points, +1.13%; Nasdaq +132.77 points, +0.99% and the small-cap Russell 2000 up 53.06 points, +2.38% — claiming the strongest gains on the day. Energy continues its strong performance, up 3.6% today and 9% for the week so far. It’s a robust trading session in an otherwise lackluster week, though only the Nasdaq is still trading down overall.
More up-bidding high jinks for GameStop (GME - Free Report) pushed shares higher, by a whopping 104% before being halted right before the close. Subsequently, after being reinstated for trading GameStop dropped around 8%, only to swoop up another 40% in late trading. This is on no discernible news, mind you; at least with cannabis stocks like Tilray (TLRY - Free Report) , up 13% in the regular session, analysts can point to fresh legalization being signed today by the governor of New Jersey.
After the close, Moderna (MRNA - Free Report) has announced plans for supplying a booster dose of its Covid vaccine to target coronavirus mutations like the more dangerous one coming out of South Africa. The plan is for the company to test the booster dose with regular Covid treatments already administered. Moderna also looks to increase dose capacity, now targeting 700 million for the year — up from 600 million originally guided, with an eye on 1 million doses delivered for 2021.
Chip giant NVIDIA (NVDA - Free Report) beat estimates on both top and bottom lines after regular trading this afternoon, with earnings of $3.10 per share surpassing the $2.80 anticipated in what is yet another record quarter for the company. Revenues of $5.00 billion improved 61% year over year, outpacing the $4.83 billion analysts were looking for. Guidance for Q1 2021 on the top line improved to $5.3 billion from the $4.5 billion in the Zacks consensus.
Its Gaming business brought in $2.5 billion in the quarter, Data Center $1.9 billion — neither of which was unexpected, but brought very solid performance in Q4. The company lauded Gaming now being the world’s most popular form of entertainment, in which NVIDIA plays an integral part. The chip-maker also noted its progresses in its implementation of its ARM acquisition, which closed last fall for $40 million. Shares are up 2% in late trading, +10.5% year to date.
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Markets Break Higher; NVIDIA Beats Q4 Expectations
A fresh record close for the Dow greets investors as the closing bell sounds this Hump Day, up 424.51 points, or 1.35%. All major indexes were up on the day, as well: S&P 500 +44.05 points, +1.13%; Nasdaq +132.77 points, +0.99% and the small-cap Russell 2000 up 53.06 points, +2.38% — claiming the strongest gains on the day. Energy continues its strong performance, up 3.6% today and 9% for the week so far. It’s a robust trading session in an otherwise lackluster week, though only the Nasdaq is still trading down overall.
More up-bidding high jinks for GameStop (GME - Free Report) pushed shares higher, by a whopping 104% before being halted right before the close. Subsequently, after being reinstated for trading GameStop dropped around 8%, only to swoop up another 40% in late trading. This is on no discernible news, mind you; at least with cannabis stocks like Tilray (TLRY - Free Report) , up 13% in the regular session, analysts can point to fresh legalization being signed today by the governor of New Jersey.
After the close, Moderna (MRNA - Free Report) has announced plans for supplying a booster dose of its Covid vaccine to target coronavirus mutations like the more dangerous one coming out of South Africa. The plan is for the company to test the booster dose with regular Covid treatments already administered. Moderna also looks to increase dose capacity, now targeting 700 million for the year — up from 600 million originally guided, with an eye on 1 million doses delivered for 2021.
Chip giant NVIDIA (NVDA - Free Report) beat estimates on both top and bottom lines after regular trading this afternoon, with earnings of $3.10 per share surpassing the $2.80 anticipated in what is yet another record quarter for the company. Revenues of $5.00 billion improved 61% year over year, outpacing the $4.83 billion analysts were looking for. Guidance for Q1 2021 on the top line improved to $5.3 billion from the $4.5 billion in the Zacks consensus.
Its Gaming business brought in $2.5 billion in the quarter, Data Center $1.9 billion — neither of which was unexpected, but brought very solid performance in Q4. The company lauded Gaming now being the world’s most popular form of entertainment, in which NVIDIA plays an integral part. The chip-maker also noted its progresses in its implementation of its ARM acquisition, which closed last fall for $40 million. Shares are up 2% in late trading, +10.5% year to date.
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5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>