Nasdaq higher on the day. S&P up modestly and tests all time high. Dow down
The major stock indices are mixed with the Dow industrial average lower by -0.60%. The S&P index trading above and below unchanged (currently up 0.15%) and the NASDAQ index of 0.62%. The Nasdaq is close to the record close at 26274.13 (currently at 26255 with a high at 26274.78). The S&P is also testing the all time high close at 7412.85 (currently at 7411.96)
Nebius is trading up is 17.47% ahead of earnings after the close which is expected to show a EPS decline of $-0.76 on revenues of $375.13 million. That compares to pay reported earnings loss last year of $-0.41 on revenues of $55.3 million. The AI infrastructure company said it is ahead of expectations on power capacity growth. The company raised its 2026 contracted power target to at least 4 gigawatts, up from a prior goal of more than 3 gigawatts. Nebius also announced a new Pennsylvania site that is expected to support 1.2 gigawatts of power when fully operational, marking its second owned gigawatt-scale facility in the U.S.
Shares are up 133.31% since March 30 after the stock price bottomed at the 200 day MA. Shares are at record levels. Needless to say, the stock price is discounting a lot with EPS still expected to show a loss. The surge in sales is encouraging though.
Marvel technologies (MRVL) is trading up 9.94% and add new record highs.Marvell Technology, Inc. engages in the design, development, and sale of integrated circuits. Its shares are up 112% since bottoming against the 100 day MA on March 19 (37 trading days). Marvell will announce earnings on May 27. Expectations are for EPS of $0.79 (vs $0.62 last year, on Revenues of 2.4B up from 1.9B last year.
Nvidia shares are also up solidly on the day with a gain of $6.47 or 2.94% and trading at a all-time record high. It was thought that Nvidia's Jensen Huong would not accompany the Trump entourage to China, but he boarded Air Force One in Alaska. Since bottoming on March 30, the price of Nvidia is up 38.42%. That is not like Marvell or Nebius gains, but nevertheless a solid gain in 31 trading days.
Nvidia is expected to report EPS of $1.74 versus $0.81 a year ago on May 20, which would represent a gain of approximately 114.8% year-over-year.
Revenue is expected at $78.76 billion versus $44.06 billion a year earlier, representing an increase of approximately 78.8% year-over-year.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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