AMD shares rise after upgrade
The chip stock popped 2.8% after William Blair upgraded Advanced Micro Devices to outperform from market perform. The firm said AMD’s Instinct product line, which are dedicated graphics processing units (GPUs) and accelerators for artificial intelligence, are poised to take market share as its competitors Intel and Nvidia flounder.
“We see a runway for shares to work from here, with Instinct share gains offering additional upside as AMD stays focused on execution while its largest competitor, Nvidia, contends with a growing leadership and regulatory imbroglio,” Sebastien Naji wrote in a Thursday note.
Intel is struggling with delays and supply shortages for its next-generation Xeon processor. At Nvidia, the potential departure of CEO Jensen Huang who’s embroiled in extramarital scandal could benefit AMD over a multi-year period.
AMD
— Sarah Min
Shares for Tetra Tech surge after strong earnings report
Shares for Tetra Tech jumped nearly 10% after the provider of consulting and engineering services reported better-than-expected fiscal fourth-quarter earnings.
The company earned an adjusted 49 cents per share, topping a FactSet estimate of 47 cents. Net revenue of $1.15 billion matched expectations.
Tetra Tech
For the first fiscal year of 2027, Tetra Tech expects to report earnings per share between 36 and 38 cents.
— Ananya Chetia
Corteva shares drop
Shares of the agricultural chemical and seed company slid more than 9% after Corteva posted a revenue miss. The company posted third quarter revenue of $1.59 billion, disappointing the $1.77 billion analysts polled by FactSet were anticipating.
Corteva
— Sarah Min
Nvidia tumbles again on report of second affair
Nvidia shares dropped more than 7% after The New York Times reported CEO Jensen Huang had another affair with the company’s vice president of health. According to the Times, Kimberly Powell reports to Huang.
On top of that the company’s board met Wednesday to discuss Huang’s fate.
NVDA 5-day chart
— Fred Imbert
