Nvidia Q3 results beat, CEO Jensen Huang says Blackwell chip demand is ‘off the charts’

Palo Alto Networks (PANW) stock declined by 5% in extended trading despite an earnings beat for its fiscal first quarter.

The cybersecurity firm reported earnings per share of $0.93 on revenue of $2.47 billion, a 16% revenue increase year over year. Wall Street analysts were expecting earnings per share of $0.89 and revenue of $2.46 billion, according to S&P Global Market Intelligence.

Palo Alto Networks also announced it plans to acquire Chronosphere, an observability platform, for an undisclosed amount.

The world’s most valuable company reports earnings after the bell, and Wall Street’s high expectations have only raised the stakes.

“It’s all about the guidance for the next quarter for Q4, their fiscal Q4,” Intelligent Alpha Founder and CEO Doug Clinton told Yahoo Finance’s Josh Lipton about what to look for.

Clinton added that more specifically, investors will be watching “this $500 billion number that Jensen put out at GTC just a few weeks ago,” referring to CEO Jensen Huang’s prediction at the company’s GTC event that Nvidia will realize $500 billion in GPU sales through the end of 2026.

“If you kind of do the math on that, there’s like 10 percentage points in growth upside to where the Street’s at for revenue next year,” Clinton said. “And so I think we [will] start to see a little of that flow through on the guide, but then I think we also get some more commentary about what that’ll look like for next year.”

As far as risks go, Goldman Sachs senior equity analyst Jim Schneider implied they’re more to the upside.

“I don’t think we’re going to see many cracks this quarter,” Schneider said. “I think that people continue to look for elements of increased competition in the space,” he continued. “It seems like Nvidia still has a very, very strong hold competitively … so we don’t really see that slowing down anytime soon.”

The parent company of T.J.Maxx and Marshalls reported an earnings beat and improved outlook on Wednesday, lifting the stock nearly 3% in premarket trading.

TJX Companies (TJX) reported profits of $1.28 per share on net sales of $15.1 billion. Wall Street analysts were looking for earnings of $1.22 per share on revenue of $14.85 billion, according to S&P Global Market Intelligence.

Same-store sales increased 5% year over year, broadly growing across divisions. The company increased its inventory by $1 billion to $9.4 billion.

TJX also lifted its sales, profit margin, and earnings per share guidance for the full year.

Comparable sales are expected to be up 4%, while pretax profit margin is expected to be at 11.6%. TJX expects diluted earnings per share in a range of $4.63 to $4.66, which is above the raised guidance of $4.52 to $4.57 it provided in the second quarter.

“The fourth quarter is off to a strong start, the availability of merchandise continues to be outstanding, and we are excited about the deals we are seeing in the marketplace,” TJX Companies CEO Ernie Herrman stated.

Nvidia’s (NVDA) earnings report after the close on Wednesday will serve as a moment of truth for a market fixated on concerns about AI overbuilding, valuations, and growth.

The stock may be poised for a dramatic move after the results are posted.

On Tuesday morning, Reuters reported that Nvidia options implied a 7% move in either direction in the wake of its quarterly report. That could trigger a $320 billion swing in the chipmaker’s market value, which would mark its largest move in post-earnings. At last check, Nvidia’s market cap stood around $4.42 trillion.

With so many AI stocks tied to Nvidia’s fortunes, a significant swing in either direction could have wide-reaching impacts in markets.

“It’s a macro indicator at this point,” Empower chief investment strategist Marta Norton said to Yahoo Finance about Nvidia earnings. With expectations running high, Norton was skeptical about Nvidia’s ability to pull out an upside surprise.

“The concern is, even if they do blow it out, that investors are still going to be skittish, just because that’s the sentiment in the markets today,” Norton said. “So I think it is very critical. I’m not sure, though, even if it’s a strong report, that it’s necessarily going to tip the scales in favor of a market rally.”

La-Z-Boy jumped over 5% after the close on Tuesday after the furniture maker reported earnings and revenue that were roughly in line with results a year ago but beat analysts’ expectations amid a turnaround push.

Here’s what La-Z-Boy reported for its fiscal second quarter, compared to Wall Street consensus estimates compiled by S&P Global Market Intelligence.

Retail sales in La-Z-Boy-owned stores increased 4% compared to the same period a year ago, and wholesale sales increased 2%. Joybird brand sales rose 1%.

La-Z-Boy opened 15 new stores during the quarter and moved to transform its portfolio. The company announced plans to exit its upholstery businesses that are not its core North American upholstery business, proposed the closure of its UK manufacturing plant, and underwent a corporate restructuring as well.

For the current quarter, the company expects sales to be in a range of $525 million-$545 million, reflecting revenue growth of 1%-4% year over year.

Medtronic (MDT) stock popped more than 4% in premarket trading on Tuesday after the medical device maker said it’s seeing strong demand for heart devices and insulin pumps.

The company beat expectations on the top and bottom lines in its fiscal second quarter. Medtronic reported GAAP earnings per share of $1.07, exceeding Wall Street estimates for $0.95 per share, according to S&P Global Market Intelligence. Revenue of $8.96 billion also surpassed estimates of $8.86 billion.

Medtronic’s cardiovascular portfolio revenue of $3.43 billion was a standout in the quarter, with an increase of 10.8% year over year, as was its diabetes business revenue of $757 million, which marked an increase of 10.3%. The company has been planning to spin out its diabetes business as a standalone company.

The company also raised its full-year revenue growth guidance to approximately 5.5%, from 5% previously. Medtronic raised its diluted non-GAAP earnings per share guidance to the new range of $5.62 to $5.66 compared to a range of $5.60 to $5.66 previously.

Nvidia (NVDA) will report its highly anticipated third quarter earnings after the closing bell on Wednesday, marking the company’s first quarterly results since temporarily becoming a $5 trillion company and a major test for the artificial intelligence trade in markets.

The chip giant’s results are likely to sway other AI-related stocks. But with the current AI jitters running through the markets, even an earnings beat and guidance raise may not be enough to soothe investors, Yahoo Finance’s Daniel Howley notes.

“The cross currents around next week’s earnings set up a Catch-22 for the AI complex, because stronger guidance can amplify worries about overspending, while a modest raise can be read as the first sign that growth is normalizing faster than expected,” Deepwater Asset Management managing partner Gene Munster wrote in a note to investors.

Howley previews what to expect when Nvidia reports:

Read more here.

Applied Materials (AMAT) stock fell over 2% in extended trading on Thursday after the US-based chipmaking equipment manufacturer reported slowing revenue but forecast more upbeat results in its fiscal first quarter.

Reuters reports that the ‌company forecast current-quarter revenue of $6.85 billion, plus or minus $500 million.⁠ Analysts ​on average ​expect revenue of $6.76 billion, ‍according ⁠to data compiled by LSEG.

The company reported earnings per share of $2.38, beating estimates of $2.06 per share but showing a slight slowdown from the same period a year ago.

“Based on our conversations with our customers and partners, we are preparing Applied’s operations and service organizations to be ready to support higher demand beginning in the second half of calendar 2026,” the company’s CFO Brice Hill said in a statement. “We have targeted our R&D investments to create new products and technologies that will enable even faster and more energy-efficient transistors, chips and systems and drive our growth in the years ahead.”

Read more here.