CLOSING BELL
Was Nvidia's Report Enough?

The market climbed into a record close for the S&P 500 Wednesday, as everyone and their brother looked forward to Nvidia earnings after the close. The data center giant fell after reporting a beat to most metrics that analysts were looking for, a great quarter that looked weak compared to years of massive revenue climbs.

Cracker Barrel returned the guy leaning on the barrel to their logo, and the stock climbed after President Trump called for the firm to take advantage of the controversy for its marketing potential. Speaking of Trump, he is expected to file to fire Fed Governor Lisa Cook on Wednesday night, likely spawning a legal case that might go all the way to the Supreme Court. Hope you enjoyed Fed independence while it lasted. /s 👀

This issue covers: Nvidia mints nearly $50B, but was it enough, news tips for market junkies, and more. 📰

9 of 11 sectors closed green, with energy $XLE ( ▲ 1.12% ) leading and health care $XLV ( ▼ 0.06% ) lagging.

 $SPY ( ▲ 0.23% )  $QQQ ( ▲ 0.15% )  $IWM ( ▲ 0.71% )  $DIA ( ▲ 0.34% )

NVIDIA REPORT
Nvidia Nearly Pulls In $50B, But Was It Enough? 🐿️ 

Nvidia reported results, falling after the initial release, where revenue came in as expected overall and for data center activities. The company also barely met or missed estimates for data center sales, depending which analyst you talk to.

The company pulled in revenue $46.75B, 57% up YoY, with adjusted EPS $1.05/share. The company expects Q3 revenue of $54B, plus or minus 2%, estimated at $53.46B. If that 2% give or take comes in low, it looks like the company is barely keeping up with expectations.

Data center revenue was $41.1B, missing some higher estimates for $41.3B. 😭 

Nvidia did not generate revenue from H20 China sales, despite only receiving the ability to sell the chips in August. The CFO commentary noted that the Q3 forward-looking revenue did not include China chip sales. After the recent Trump Jensen Huang agreement, Nvidia can sell H20 chips to China if they pay a 15% fee, meaning the forward revenue could be discounted by around $8B, minus the taxes of course.

Nvidia approved a $60B buyback, and is due to pay out $0.01/share in dividends on October 2nd. Just in time to buy Halloween candy… in this case, enough for a single Skittle. 🍬 

During the company sales call, Chief Huang said that he has hopes for more than just the H20 chip. Huang said selling chips to China’s growing AI sector could still be a $50B opportunity this year, if they can sell all of their competitive products. 🤑 

Analysts were looking for EPS around $1 and revenue of $46.1B, according to Bloomberg / Yahoo compiled estimates. The company’s nearly $50B in revenue looks fantastic, but as Bloomberg analysts pointed out, it’s the most highly valued public company, but $50B in rev. does not put it even in the top 10 for traded companies.

And compared to last year’s 100%+ jump in revenue, a 56% looks paltry for investors demanding more. Gross margin grew to 72.3%, higher than last quarter but lower than in Nvidia’s Q2 fiscal 2025.

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EARNINGS NEWS
That’s Not All Folks 🐷 

Nvidia, with a weaker earnings price reaction, proved that it was not the only stock out there. Here were some of the other names reporting and moving Wednesday after the close:

$FIVE ( ▲ 1.71% ) Five Below, a t-shirt, keychain, and candy store climbed after reporting a beat in revenue and sales. The company raised its full-year outlook and showed revenue jumped 24% to $1.03B.

$CRWD ( ▲ 1.2% ) Cybersecurity company CrowdStrike fell after its report, reporting a revenue beat of ~$1.17B, just slightly above estimates. net income fell more than $10M from the last quarter, to $184.7M. Crowdstrikes’ Q3 revenue forecast fell barely short of estimates for $1.23B.

$NTAP ( ▲ 2.49% ) NetApp, a computer flash memory storage company showed an EPS beat and revenue barely beat, but the stock fell after hours when the company maintained its full-year guidance at a range of $ 6.625-$6.875 billion. Rival $PSTG ( ▲ 3.93% ) climbed after also announcing a beat, but made its mark by raising sales expectations.

$HPQ ( ▲ 0.37% ) HP inc initially climbed after reporting beat adjusted earnings by a penny, and sees 86-97 cents vs. est. 91 cents in the coming quarter, marking up to $3B of free cash flow in the fiscal year, with its AI PCs doing well. CFRA analysts told MT Newswires the stock fell in response to an 11% tariff drop in earnings from a year ago.

$SNOW ( ▲ 3.11% ) Snowflake climbed more than 10% after its report. The app platform pulled in $1.145B in sales, beating estimates by $600M. Margins climbed to 11%.

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POPS & DROPS
Top Stocktwits News Stories 🗞️ 

Biggest Moves
MongoDB surged 35% after blowout Q2 earnings and a $42M Atlas revenue beat, triggering multiple price target hikes and a 6,040% spike in retail message volume.
Kohl’s surged 23% after raising FY25 EPS guidance to $0.50–$0.80, citing inventory cuts, store closures, and margin expansion that flipped retail sentiment from bearish to bullish. It was the highest climber on the Russell 2000.
Abercrombie fell after the firm’s Q report flagged a $90M tariff hit for FY25, cutting margin outlook by 170bps. Otherwise, it was a beat, and ANF raised its net sales forecast and saw retail sentiment spike to “extremely bullish.”
J.M. Smucker warned that rising coffee tariffs could cut FY26 volume by low-to-mid teens and EPS by $0.50, triggering a 5% stock drop and bearish retail sentiment.
American Eagle, hot off a jeans/ ‘genes’ controversy over Sydney Sweeney's assets, climbed 8% after announcing plans to launch a collection with Travis Kelce.

Tech
OpenAI and Anthropic conducted joint safety tests on GPT-4o, Claude Opus 4, and smaller models to evaluate jailbreak resistance, hallucination rates, and prompt manipulation vulnerabilities.
Google cut 35% of managers overseeing teams of under three people as part of an efficiency push, sparking internal concerns over job security and leadership structure.
Macro
Fed’s Williams said the central bank could cut rates and still remain restrictive, citing slowed inflation progress, tariff-linked PCE effects, and GDP growth of just 1% to 1.5%.

Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️ 

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WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: GDP (8:30 AM), Initial Jobless Claims (8:30 AM), Pending Home Sales (10:00 AM), 7-Year Note Auction (1:00 PM), Fed Waller Speaks (4:00 PM) 📊
Pre-Market Earnings: Li Auto ($LI), Best Buy Co ($BBY), Baozun ($BZUN), Dollar Gen ($DG) 🛏️
After-Market Earnings: Affirm Holdings ($AFRM), SentinelOne ($S), Marvell Tech ($MRVL), Dell Technologies ($DELL), Ulta Beauty ($ULTA), Webull ($BULL) 🌕️ 

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

Links That Don’t Suck 🌐

📈 IBD is offering exclusive ticket packages to their biggest investing workshop of the year featuring Mark Minervini, Charles Harris and more*
📺️ Trump's 50% tariff on India kicks in as Modi urges self-reliance
🎩 White House says Fed's Cook should 'go on leave' until fraud accusations are resolved
😨 FDA approves new Covid shots with limits on who can get them under RFK Jr.
🏠️ Ethereum rally continues as recent crypto softness puts bitcoin price at 'inflection point'
🤖 Cracker Barrel's logo-related 'hubbub' could drive near-term traffic as Wall Street cheers reversal

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