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CNBC
19 minutes ago
- CNBC
Stocks making the biggest moves midday: Coty, Paramount Skydance, Walmart and more
Check out the companies making headlines in midday trading. Coty — Shares of the beauty retailer plummeted more than 20% following its latest quarterly results. While its revenue of $1.25 billion beat the $1.20 billion that analysts surveyed by LSEG were expecting, it posted a loss per share of 5 cents, more than 2 cents in earnings per share that analysts were looking for. The company also forecast a weak first half of fiscal 2026 but said that a turnaround should be in store for the second half, supported by new product launches and tariff mitigation efforts taking hold. Paramount Skydance — The stock popped 15%, putting its month-to-date gains at more than 25%. Earlier this month, the company's second-quarter earnings came in better than expected as its streaming division saw an unexpected profit, sending shares higher. Xpeng — U.S. shares of the Chinese electric car company jumped more than 14%. CEO Xiaopeng He purchased 3,100,000 Class A ordinary shares through Galaxy Dynasty Limited, a security filing dated Thursday revealed. The stock has risen around 17% this week on the heels of reporting better-than-expected revenue for the second quarter, as well as a narrower-than-expected loss. Walmart — The big-box retailer slipped more than 4%. Walmart fiscal second-quarter revenue beat analyst estimates . Adjusted earnings of 68 cents per share may not have compared with the LSEG consensus estimate of 74 cents. The country's largest retailer raised its full-year earnings and sales outlook, also noting that costs are rising due to higher tariffs. Nordson — The adhesive and coatings maker rallied more than 5% on better-than-expected earnings and revenue. Nordson said that full-year sales are currently tracking slightly above the midpoint of its original guidance given earlier this year. Cracker Barrel Old Country Store — The restaurant and gift shop chain fell 14%. The company unveiled an updated logo earlier this week, sparking some criticism on social media . Maplebear — The grocery delivery company, which does business as Instacart, dropped 2%. Wedbush downgraded the name to underperform on Thursday, with analyst Scott Devitt citing stiffening competition as a potential headwind. Hewlett Packard Enterprise — The technology services company advanced 3% after Morgan Stanley upgraded its investment rating to overweight . Analyst Erik Woodring said HPE's forthcoming quarterly results could be a positive catalyst for the stock. Broadstone Net Lease — Shares of the real estate investment trust rose more than 2% after Goldman Sachs double upgraded to buy from sell. Goldman said Broadstone's development pipeline has created reliable earnings growth and can narrow a valuation gap. — CNBC's Alex Harring and Michelle Fox contributed reporting.


New York Post
an hour ago
- New York Post
Howard Lutnick's ‘insulting' remarks about Nvidia's H20 chips irk China: report
Chinese officials are miffed over Commerce Secretary Howard Lutnick's 'insulting' remarks about Nvidia's H20 computer chip — and are now pressuring domestic firms not to buy it, according to a report Thursday. During a July 15 appearance on CNBC, Lutnick downplayed the Trump administration's decision to lift an additional set of export controls that would have barred sales of the H20 – a less-powerful version of Nvidia's chips that was made specifically to comply with US export controls on the sensitive technology. 'We don't sell them our best stuff, not our second-best stuff, not even our third-best,' Lutnick said at the time. Advertisement 3 Nvidia's H20 chip was made to comply with US export controls. AFP via Getty Images 'You want to sell the Chinese enough that their developers get addicted to the American technology stack, that's the thinking,' he added. Shortly after Lutnick's CNBC appearance, Beijing began its regulatory crackdown, the Financial Times reported. Top Chinese officials viewed Lutnick's comments about the H20 chip as 'insulting,' two sources with knowledge of the crackdown told the FT in a story published Thursday. Advertisement Shares of Nvidia, led by CEO Jensen Huang, were down less than 1% in early trading on Thursday. Some Chinese tech firms have scaled back their H20 orders in response to the pressure from Beijing, the report added. 3 Commerce Secretary Howard Lutnick said the US doesn't sell its best chips to China. REUTERS 'Lutnick's speech gives the coalition [of regulators] one more reason to intensify its efforts to push tech firms to use China's own chips,' one of the FT's sources said. Advertisement Agencies involved in the pressure campaign reportedly include the Cyberspace Administration of China, the National Development and Reform Commission and the Ministry of Industry and Information Technology. Charlie Gasparino has his finger on the pulse of where business, politics and finance meet Sign up to receive On The Money by Charlie Gasparino in your inbox every Thursday. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters 'As both governments recognize, the H20 is not a military product or for government infrastructure,' an Nvidia spokesperson said in a statement. 'China won't rely on American chips for government operations, just like the U.S. government would not rely on chips from China. However, allowing U.S. chips for beneficial commercial business use is good for everyone.' The Commerce Department did not immediately return a request for comment. Advertisement 3 Nvidia CEO Jensen Huang is pictured. AFP via Getty Images Nvidia's chips have become a hot commodity because they are considered the most advanced in the market — and are crucial for powering artificial intelligence models. Some critics fear that allowing sales of even the H20 chip to China will hurt the US's competitiveness in the AI race. The situation has unfolded during a period of ongoing trade discussions between the US and China, which have yielded some progress but have yet to result in a full-fledged agreement. In order to secure the necessary export licenses, Nvidia and fellow chipmaker AMD have agreed to pay the US government 15% of the revenue from their chip sales in China.


Chicago Tribune
an hour ago
- Chicago Tribune
Indian, Indo-Chinese restaurant The Clove opens in Glenview
Fans of Mt. Everest and Red Hot Chilli Pepper restaurants in Evanston might have a new favorite in Glenview. The owner of the two restaurants recently opened his sixth restaurant, The Clove, at 1827 Waukegan Road, Glenview. It will feature guest chef nights and a rotating menu of entertainment. The new restaurant, which had a ribbon cutting Aug. 15, combines two concepts: an Indian-Nepali menu prepared in one kitchen, and an Indo-Chinese menu prepared in another kitchen. Ramakant Kharel, the restaurant's owner, also anticipates using a third kitchen as a place to exhibit the staff's cooking skills, similar to what a hibachi chef might do. For Kharel, The Clove is a culmination of his 25 years as a restaurant owner, with that career keeping him close to the Chicago suburbs, while also allowing him to expand to Toronto, Canada. 'I always wanted to open this type of concept,' Kharel told Pioneer Press. By having two kitchens, he anticipates being able to offer his customers classic Indian food that they might be accustomed to, while also giving them a chance to try out Indo-Chinese food, a blend of Indian and Chinese flavors, that they might not know so well. Kharel calls Indo-Chinese 'something of a hidden treasure.' He anticipates it will be more popular with patrons with South Asian palates, but notes it isn't too different from Indian-Nepali food. Kharel said he hopes it will attract South Asian customers who live far from his Evanston restaurant Red Hot Chilli Pepper. Indo-Chinese items include Kungpao chicken, orange chicken, hot and sour soup, fried rice and other dishes. The Indian-Nepali menu has typical food items found in most Indian restaurants, including butter chicken, paneer tikka masala, chicken curry and palak paneer. On a limited scale, the restaurant also serves an all-you-can-eat buffet. Kharel plans to limit it to a weekly lunch service on Tuesdays because of the high cost associated with operating a buffet. He said he hopes a buffet will entice patrons to try new menu items. Every month, the restaurant will offer a specialized dinner service prepared at the demonstration kitchen, Kharel said. He anticipates planning to roll out the event in September, putting an $80 price tag on an evening with a five course dinner and two beer or wine drinks. On those select nights, Kharel also hopes to invite cooks outside of his culinary wheelhouse, allowing cooks that don't necessarily cook Indian food a chance to shine at the monthly dinners. He plans to offer 12 different cuisines, which could mean hiring a chef to cook Italian, Greek or German food. It's a big ask, Kharel acknowledged, but said he will do his best to offer something different each month. The restaurant's website says it will offer entertainment nights featuring live music, comedy, bellydancing and karaoke. Across the restaurant, patrons will have access to a full bar menu. The menu will include classic cocktails such as an old fashioned, margarita, mojito, screwdriver and Long Island ice tea, Kharel said. The Clove has seating for 90 people in the dining room and 35 more in the bar section. The restaurant is open from 11:30 a.m. to 9 p.m. from Sunday to Thursday, and from 11:30 a.m. to 10 p.m. Friday and Saturday.