Saturday, October 5, 2024
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What’s likely to move the market

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading in New York on August 23, 2024. 

Angela Weiss | AFP | Getty Images

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Here’s what CNBC TV’s producers were watching as stocks rose modestly Tuesday and what’s on their radar for Wednesday’s session.

Nvidia

  • CNBC TV’s Seema Mody will report on Nvidia’s numbers after the bell.
  • On “Market Navigator” Tuesday, a part of “Power Lunch,” OptionsPlay’s Tony Zhang warned he was buying protection: a put spread to capitalize if the stock falls after the report.
  • Nvidia is up about 179% in the last year, and it has surged 159% in 2024.
  • The stock is 8.8% from the June 20 high.
  • Of the analysts tracking the stock, FactSet shows that 92% rate it a buy or overweight, while 8% deem it a hold. The average price target is $142.63, and the stock closed at $128.30 today.
  • Nvidia is up 20.5% in the past three months.
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Nvidia’s performance over the past three months

CrowdStrike

  • CNBC TV’s Steve Kovach will have the quarterly numbers after the bell.
  • There’s a lot of drama for CrowdStrike after a major IT outage July 19.
  • The stock is down 21.5% since then.
  • It had taken a leg lower before that. It’s down 32% from the July 9 high.
  • In the last year, however, CrowdStrike is up 80%.
  • The stock is down 23% in the past three months.

Salesforce

  • CNBC TV’s Julia Boorstin will report as the company releases quarterly earnings after the bell.
  • The stock is 17% from the March high.
  • Salesforce is down 3% in the past three months.
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Salesforce in 2024

The Great American Consumer

  • There were two good notes from NYSE producer and earnings guru Robert Hum here at CNBC on Tuesday.
  • He was watching Nordstrom and PVH. Both saw strong regular-price sales/full-priced sales.
  • Both did better than expected.
  • Nordstrom is up 6% after the bell. The stock is down 7% in August.
  • PVH is down 7% after the bell. The stock is up 4.4% in a month.

Foot Locker

  • The retailer reports Wednesday morning. 
  • Foot Locker is 8% from the February high.
  • The stock is up nearly 49% in the past three months.
  • Nike is down 7% in that time period. It is 31% from the December high.
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Foot Locker’s performance over the past three months

China

Shake Shack CEO’s Rob Lynch

  • Wednesday marks 100 days since Rob Lynch took over as CEO.
  • Shake Shack is up 10% in three months, and it’s 3.5% off from the May 6 high.

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