Market recap: Nvidia shares rise on strong earnings report

The visual computing company's revenue and earnings topped estimates thanks to strength in its automotive and gaming units.

August 17, 2019 at 5:08AM
FILE - This June 25, 2019, file photo shows the entrance to a Walmart in Pittsburgh. Walmart Inc. reports financial results Thursday, Aug. 15. (AP Photo/Gene J. Puskar, File)
Walmart posted big second-quarter profits on Thursday, and its stock price surged on Wall Street. (The Minnesota Star Tribune)

Good visuals: Nvidia rose 7.3% to $159.56 Friday as the visual computing company's revenue and earnings topped estimates thanks to strength in its automotive and gaming units.

Pointing the finger: General Electric sank 11.3% to $8.01 Thursday on news that the industrial conglomerate is being accused of hiding its financial problems by Harry Markopolos, the prominent whistleblower known for outing Bernie Madoff. A spokesman said GE stands behind its financials. Shares closed the week at $8.79.

Markdowns: Macy's plunged 16.7% to $16.11 Wednesday after it slashed its profit forecast for the year. The retailer's profit for the latest quarter fell short of analysts' forecasts as it cut prices on unsold items. Shares closed Friday at $15.98.

Oil slick: National Oilwell Varco lost 5.8% to $19.20 Wednesday as energy stocks overall sank on a further slide in the price of crude oil. Shares closed the week at $18.64.

Earnings bounce: Walmart shares surged 5.4% to $111.95 Thursday after its quarterly profit top estimates on strong online grocery sales. Shares closed Friday at $112.99.

Trade tension: Cisco Systems plunged 8.3% to $46.46 Thursday after its profit forecast fell short of some analysts' expectations, blaming the bruising U.S.-China trade war. Shares closed Friday at $46.96.

Bad genes: Myriad Genetics Inc., fell 42% to $25.50 Wednesday after the company issued a weak financial forecast. Shares closed the week at $25.35.

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