Nvidia Declines; Intuit Rises; Gap Rallies | Stock Movers

On this episode of Stock Movers:

- Shares of Nvidia (NVDA) declined in premarket trading after investors shrugged off a stronger-than-expected revenue forecast and assurances that the AI economy isn’t in a bubble. Nvidia, the world’s most valuable company, announced Wednesday that sales will be about $65 billion in the January quarter — roughly $3 billion more than analysts predicted. The chipmaker also said that a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated. But it’s faced growing fears in recent weeks that spending on its AI chips isn’t sustainable. The company’s China business also has stalled due to US export restrictions.

- Shares of Intuit (INTU) moved higher in the early session after the financial software provider posted first-quarter profit and revenue topped estimates. Intuit beat fiscal 1Q estimates, with 18% revenue growth on the back of an 18% gain in Global Business Solutions (GBS), Credit Karma's 27% and the Consumer group's 21%. TurboTax Live sales jumped 51% (long-term range of 15-20%). Email marketing business Mailchimp was an outlier, posting a top-line decline. GBS (59% of fiscal 2025 sales) was driven by QuickBooks Online accounting sales, which rose 25% on higher effective prices, customer growth and a shift in mix.

- Shares of Gap (GAP) rallied ahead of the US market open after the apparel maker reported stronger-than-expected sales, a sign that celebrity-fueled marketing, flashy collaborations and a revamped inventory are luring in consumers. Comparable sales rose 5% in the third quarter, surpassing the average of analyst estimates. Results at the company’s two biggest brands — Old Navy and Gap — were particularly strong. Earnings per share also outpaced expectations. Chief Executive Officer Richard Dickson is reigniting excitement around Gap with collaborations, including with luggage brand Béis, and the GapStudio line that’s being promoted by Gwyneth Paltrow and her daughter.

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Nvidia Declines; Intuit Rises; Gap Rallies