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Single Names Driving Headline Indices, Nvidia Earnings to Follow

EQUITIES

Single name stocks in focus so far Wednesday, with some notable pre-market moves that have weighed on headline indices:

  • Peloton down over 30% on a miss for Q1 revenues and lower guidance
  • Foot Locker down close to 30% as they miss estimates and trim forecasts for EPS ahead. Guidance bleeding into Nike (-3.4%), Under Armour (-1.8%), Adidas (-4.0%)
  • Moves come ahead of Nvidia earnings due after-market. Stock is already up over 5% on the week (trimming a solid 8% rally on Monday) as markets anticipate sharp swings in the stock price follow May's breakout report that drove a ~25% rally in the stock and strength across the NASDAQ-100 on AI hopes. Options desks price a ~10% move in the stock post-report.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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