Nvidia Sinks on Jensen Ouster, Super Micro Declines, Cisco Gains
Show notes
Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:
- Nvidia (NVDA) stock sank 5% as Chief Executive Officer Jensen Huang was ousted. The US is probing Alice Huang over whether entities linked to her were involved in efforts to smuggle products made by Super Micro Computer Inc. to China. Nvidia's board is counting on Colette Kress to steady the ship as interim CEO while it hunts for someone to permanently replace Huang.
- Super Micro Computer (SMCI) shares are down 13% on Thursday, after Semafor reported that the Department of Justice is probing the company, along with Nvidia and Megaspeed.
- Cisco Systems (CSCO) shares jumped after market close Thursday as its fiscal first quarter marked the strongest revenue and earnings growth rates in more than 15 years. The company's adjusted earnings per share increased to $1.40 for the quarter ended Oct. 24 from $1 a year ago, and overall revenue jumped 24% to $18.52 billion. Cisco raised its adjusted EPS guidance to between $5.47 and $5.53 for fiscal 2027, and revenue is now projected at $74.8 billion to $75.8 billion.
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