Salesforce Rips, Nvidia Beats Riases and Climbs, Bears Check Their Math ⚡

Welcome to LazyListen. This is The Daily Rip for today. Nvidia crushed expectations with a strong beat and raised guidance, sending its stock sharply higher after hours.

-driven demand and recurring revenue growth. Meanwhile, Meta settled a major lawsuit over teen safety on its platforms, agreeing to pay up to 18 billion dollars and implement new safeguards. On the macro front, economic data revealed stronger private demand and persistent inflation, setting the stage for the Federal Reserve’s key Jackson Hole speech on Friday.

Starting with Nvidia, the chipmaker reported adjusted earnings of two dollars and twenty-two cents per share, beating the consensus of two dollars and nine cents. Revenue came in at just over ninety-six billion dollars, well above the expected ninety-two billion. I.

computing. I. has hit an inflection point where it’s not just experimental but productive and profitable, turning compute power directly into revenue.

Nvidia’s guidance for the next quarter raised the bar again, forecasting revenue of one hundred eight billion dollars, comfortably above Wall Street’s forecast of about one hundred five billion. The company did warn margins will tighten due to rising costs in the supply chain, with expectations for margins to bottom out around seventy-one to seventy-two percent by 2028. I.

growth story is far from over. I. demand and recurring revenue growth.

I. I. Okta was a standout, surging twenty-one percent after reporting eleven percent revenue growth and a seventeen percent increase in its subscription backlog.

I. trends in security. I.

into their offerings. S. states accusing Facebook and Instagram of designing their platforms to hook children and improperly collecting data on young users.

The settlement requires Meta to pay up to eighteen billion dollars over ten years and implement nationwide safeguards, including default two-hour daily limits, overnight blocks, school-hour notifications, and age verification checks. This deal ends a federal trial in California without Meta admitting wrongdoing but imposes significant operational changes. Meta’s stock rose modestly on the news, reflecting relief that the uncertainty is over but also acknowledging the substantial legal costs ahead, with the company expecting a ten billion dollar legal expense in the third quarter.

On the macroeconomic front, the second estimate of second-quarter GDP confirmed a slowdown to one point five percent growth, down from two point one percent in the first quarter. However, underlying data showed stronger private demand, with consumer spending revised up to three point four percent and business investment jumping eight point five percent. Private domestic demand rose four point two percent, indicating that despite headline softness, economic activity remains resilient.

Inflation remains sticky, with July’s personal consumption expenditures rising three point seven percent year over year, slightly above expectations. Core inflation held steady at three point three percent annually. These numbers suggest the Federal Reserve still faces an uphill battle to bring inflation down to its two percent target, setting the stage for potential rate hikes after the Jackson Hole symposium, where Fed Chair Jerome Powell is expected to speak on Friday.

Looking at other notable movers, Okta’s big post-earnings rally stands out in the software security space. 2 billion dollars. I.

storage demand or just a timing shift in expectations. Sarepta gained slightly after a competitor’s FDA review delay in the Duchenne muscular dystrophy space, but skepticism remains about whether this will translate into a meaningful advantage. m.

Eastern. Earnings continue to roll in with companies like Best Buy, Canadian Solar, Dollar General, and Baozun reporting before the open. After the bell, keep an eye on Marvell Technology, Affirm Holdings, SentinelOne, and Ulta Beauty among others.

I. demand is fueling recurring revenue growth. Meta’s settlement marks a significant legal milestone with operational implications, and the macro data underscores persistent inflation and resilient demand ahead of the Fed’s Jackson Hole speech.

Traders will be watching closely to see how these themes evolve in the days ahead. Thanks for listening. Catch you next time on LazyListen.