The Nasdaq is set for a higher open, supported by Nvidia's beat and stock pop that added more fuel to the AI trade
My top 10 things to watch Thursday, Aug. 24 Nvidia is triumphant. Another blowout quarter and once again showing why it's an "own it, don't trade it" stock. Big guidance raise. Shares surged 8% early Thursday, set to open at a fresh all-time high above $500. Needless to say, our current $450-per-share price target will be revised higher. Avalanche of PT increases on Wall Street.
Dollar Tree lowers forward guidance for its third quarter. The stock drops 7% on the news. Also, unfavorable shrink trends. The company, which also owns Family Dollar, says more traffic to stores but consumer spend less. Strapped shoppers blamed, in part, for terrible financials Wednesday at Club stock Foot Locker . Shares under pressure Thursday, one day after sinking 28%. We downgraded Foot Locker to our 4 rating, which means do nothing until more information.
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