Finance News Update: September 4, 2024
In today’s finance news, several key developments are causing shifts in the market. Here are the top stories impacting investors today:
1. Nvidia Faces DOJ Antitrust Probe
Nvidia (NVDA) shares are on the decline following reports of an antitrust investigation by the U.S. Department of Justice. The chipmaker received a subpoena as part of the probe into market dominance in artificial intelligence (AI) technology. This news comes after Nvidia’s disappointing second-quarter earnings report, which has led to a sell-off of the stock.
2. Zscaler Shares Plunge on Earnings Outlook
Cybersecurity provider Zscaler (ZS) is experiencing a sharp drop in share price after issuing an earnings forecast below analysts’ expectations. The company’s adjusted earnings per share (EPS) guidance for the fiscal year fell short of forecasts, causing a negative reaction from investors.
3. Blackstone Acquires Australian Data-Center Provider
Blackstone (BX) has agreed to purchase Australian data-center operator AirTrunk in a multi-billion dollar deal. This acquisition marks Blackstone’s largest investment in the Asia-Pacific region to date. The deal is pending approval from the Australian Foreign Investment Review Board.
4. GitLab Raises Full-Year Guidance
Shares of GitLab (GTLB) are seeing a significant increase in premarket trading after the software-development platform raised its full-year sales outlook. The company’s updated guidance and strong second-quarter results have boosted investor confidence.
5. Hewlett Packard Enterprise Expects Growth on AI Demand
Hewlett Packard Enterprise (HPE) is set to report third-quarter earnings, with analysts anticipating growth in both revenue and profit. Increased demand for AI products is driving this growth, with AI systems revenue more than doubling in the second quarter.
Overall, today’s finance news highlights the importance of staying informed and making strategic investment decisions. Stay tuned for more updates and analysis from Extreme Investor Network to help guide your financial goals.