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Why Nvidia Shares Are Rising

NVIDIA Corporation (NASDAQ: NVDA) shares are trading higher by 3.26% to $201.74 Wednesday afternoon.
byHenry Khederian
February 1, 2023
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NVIDIA Corporation (NASDAQ:NVDA) shares are trading higher by 3.26% to $201.74 Wednesday afternoon. The stock is potentially trading higher in sympathy with Advanced Micro Devices, Inc. after the company reported better-than-expected fourth-quarter EPS and sales results and issued first-quarter guidance.

See Also: Why This AMD Analyst Is Bumping Up Price Target For Stock By 19% Following Q4 Results

What Happened?

AMD reported fourth-quarter non-GAAP earnings per share, or EPS, of 69 cents, above the consensus estimate of 67 cents per share. It was also higher than the third quarter’s 67 cents per share, but down 25% from the year ago’s 92 cents per share.

Fourth-quarter revenue came in at $5.6 billion compared to the consensus of $5.5 billion and the company’s guidance of $5.5 billion plus or minus $300 million…Read More

According to data from Benzinga Pro, NVDA has a 52-week high of $289.46 and a 52-week low of $108.13.

 
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Organigram Reports 16% YoY Revenue Drop But Kicks Off Year ‘With A Bang,’ Says CEO On Hundreds Of Millions In Tobacco Giant BAT Investment

By Jelena Martinovic
February 13, 11:45 AM
Canadian cannabis producer Organigram reported a 16% decrease in net revenue for Q1 2024 due to a reduction in international revenue and medical sales. The company announced in November that it had received a CA$124.6m ($93m) strategic equity investment from BT DE Investments, a subsidiary of tobacco company British American Tobacco. Organigram shareholders approved the investment in January, and the company completed the first tranche of the investment for $41.5m. CEO Beena Goldenberg said the investment had removed a significant amount of risk from Organigram's business and enhanced its competitive advantages. The investment allows the cannabis producer to utilize its facilities, research and development capabilities, and market leadership to expand its reach within the Canadian market and beyond. Organigram's Q1 financial highlights included a drop in gross margin, an increase in selling and administrative expenses, a net loss of CA$15.8m, and positive adjusted EBITDA of CA$135,000.

BTI