Arm Holdings Plc (NASDAQ:ARM) shares are trading higher Thursday in sympathy with NVIDIA Corp (NASDAQ:NVDA), which jumped after reporting earnings for the first quarter. Arm develops and licenses high-performance IP solutions for CPUs, GPUs, and NPUs, relied on by many of the world's semiconductor companies to develop their products.
Several semiconductor stocks including Micron Technology Inc (NASDAQ:MU), Broadcom Inc (NASDAQ:AVGO) and Lam Research Corp (NASDAQ:LRCX) are trading higher Thursday in sympathy with NVIDIA Corp (NASDAQ:NVDA), which jumped after reporting earnings for the first quarter.
BJ's Wholesale Club reported a 4.1% year-on-year sales growth in Q1 FY24, reaching $4.918 billion, surpassing the $4.831 billion analyst estimate. Membership fee income surged 8.6% to $111.4 million, and digitally enabled comparable sales soared 21% Y/Y. Despite a 13.9% drop in operating income, BJ's adjusted EPS of $0.85 beat expectations. The company reaffirmed its FY24 EPS outlook of $3.75-$4.00.
Chinese video-sharing platform Bilibili Inc reported 12% revenue growth in Q1 2024, but missed analyst estimates. DAUs and VAS revenues increased, while stock price decreased.