Samsung HBM3E Chips Clear Nvidia Tests, Set for AI Processor Integration
August 7, 2024
Breaking News
Samsung HBM3E Chips Clear Nvidia Tests, Set for AI Processor Integration. 🌐 Samsung's fifth-generation HBM3E chips have passed Nvidia's tests for AI processors, with supply deals expected soon and shipments starting by Q4 2024. This development marks a significant step for Samsung in the competitive high bandwidth memory market. Reuters reports.
The Warm Up
🔍 Monopo-Gone: Google loses antitrust case. MarketWatch reports.
🚜 CaterBoost: Caterpillar adjusted profit rises on resilient demand. Yahoo Finance reports.
🛠️ FlightFix: US transport safety board to hold hearings on Boeing 737 MAX 9 mid-air emergency. Reuters reports.
🔝 GradeUp: Chinese firms stockpile high-end Samsung chips as they await new US curbs. Yahoo Finance reports.
⚡ SuperSpeed: Tesla attempts trial to Increase maximum charging rate of cybertrucks on supercharger network. Benzinga reports.
📊 ProfitPulse: SoftBank seen posting modest profit in Q1, buyback potential in focus. Reuters reports.
A Question About Risk
* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 11am ET, as our Risk Management educator.
How Do Moving Averages Show a Trend?
Moving averages are lagging indicators and do not predict new trends. It's very important to remember that while they don't forecast trends, they can help confirm trends after they have been established. A market is in an uptrend when the current price action is above a moving average, and the slope of the average is sloping upward. Conversely, a market is in a downtrend when the current price action is below the moving average, and the slope of the average is sloping downward.
Since moving averages lag behind current price action, it takes longer for the average to turn. Thus, the confirmation of a trend change indicated by the moving average is not solely dependent on the price being above or below the average. In other words, if you have a flat moving average, it doesn't provide useful information.
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on August 6.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1. $LUMN: Lumen Technologies
Total gain: +93.05%
The company reported results for the second quarter ending June 30, 2024, highlighting continued success in North American Large and Mid-Market Enterprise sales. Notably, new logo sales in the Large and Mid-Market segments increased, and the net total contract value across all channels grew year over year. Benzinga reports.
2. $CLNN: Clene
Total gain: +49.50%
The company and its wholly-owned subsidiary, Clene Nanomedicine, announced the submission of new CNM-Au8 biomarker and clinical efficacy data to the FDA. This submission includes post hoc analyses from two independently conducted Phase 2 clinical trials of CNM-Au8 for the treatment of ALS. Benzinga reports.
3. $LYT: Lytus Technologies
Total gain: +48.23%
The stock appeared to be moving on no notable news.
Today’s Notable Earnings
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
HUBS: HubSpot
2Q 2024
After Market Close
Estimate: 1.630
Actual: N/A
DUOL: Duolingo
2Q 2024
After Market Close
Estimate: 0.320
Actual: N/A
DLB: Dolby Laboratories
3Q 2024
After Market Close
Estimate: 0.590
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
3:00 pm - Consumer credit - June
Parting Thoughts
"A long-term view is crucial because the short-term fluctuations of the market can often be misleading."
― Philip Fisher
Sourced in:
“Common Stocks and Uncommon Profits”, by Philip Fisher, published in 1958