SUPERNEWS

Equities

Nvidia's Pre-Earnings Dip, Amazon's Dow Debut Stir Markets

Nvidia braces for earnings amid tech fluctuations; Amazon's Dow debut and defense stocks shine, contrasting SolarEdge's plunge.

By Athena Xu

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2/20, 19:30 EST
Apple Inc.
Amazon.com, Inc.
General Dynamics Corporation
Huntington Ingalls Industries, Inc.
JP Morgan Chase & Co.
Lucid Group, Inc.
Leidos Holdings, Inc.
NVIDIA Corporation
Rivian Automotive, Inc.
SolarEdge Technologies, Inc.
Tesla, Inc.
Uber Technologies, Inc.

Nvidia's Earnings Anticipation and Amazon's Dow Entry Highlight Market Moves

Nvidia (NVDA): Pre-Earnings Tension

  • Earnings Watch: Nvidia to report after the bell Wednesday, with a 4.35% drop today in anticipation.
  • Recent Performance: The stock has surged approximately 38% since its last quarterly report but is currently 7% below this month's peak.

Electric Vehicle Sector: Mixed Fortunes

  • Lucid (LCID) and Rivian (RIVN): Both set to announce earnings tomorrow. Lucid faces a 15% decline since its last report and a significant 66% yearly drop. Rivian has seen a more modest decrease of 6% post-last earnings, standing 43% below its July peak.
  • Tesla (TSLA) Comparison: Down roughly 18% over three months, Tesla remains about 35% off its annual high.

SolarEdge Technologies Takes a Hit

  • After-hours trading saw SolarEdge down by approximately 11.5%, following an announcement that Q1 revenues would significantly miss expectations due to low demand amidst high interest rates. This adds to a staggering yearly decline of around -75%.

Defense Sector Shines

  • Notable highs were reached by General Dynamics, Huntington Ingalls, and Leidos, reflecting robust performance in the defense industry this February.

Banking Sector Insights

  • JPMorgan Chase & Co. (JPM) hits new heights with a remarkable +46% rise since end-March '23.
  • Mixed movements observed across other major banks like Bank of America, Wells Fargo, and Citigroup with varying degrees from their respective peaks.

Amazon Joins the Dow Industrials; Uber Enters Dow Transports

  • Amazon is set for inclusion in the Dow Industrials as Walgreens exits amid a -40% annual downturn.
  • Uber will replace JetBlue in the Dow Transports after showing strong performance (+17%) this February.

Market Trends & Analyst Calls

Top analyst calls spotlighted stocks such as Nvidia, Apple, Tesla among others for Tuesday’s trading session. Additionally highlighted were 'hidden gems' from UBS with potential upsides and under-the-radar picks suitable for current market conditions according to Morningstar strategists.

This comprehensive overview captures key movements across various sectors including technology giants gearing up for earnings reports alongside significant shifts within indices like the Dow Industrials and Transports—providing active traders insights into market dynamics post-market close on February 20th, ahead of another eventful trading day marked by crucial earnings announcements and strategic index reconfigurations.