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What is likely to move the market
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What is 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 |

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Here’s what CNBC TV producers saw in Tuesday’s modest gain and what’s on their radar for Wednesday’s session.

NVIDIA

  • CNBC TV’s Seema Mody will report on Nvidia’s numbers after the market closes.
  • On Tuesday’s “Market Navigator,” part of “Power Lunch,” OptionsPlay’s Tony Zhang warned that he was hedging: a put spread to profit from a post-report decline.
  • Nvidia is up about 179% last year and will grow 159% in 2024.
  • The share price is 8.8% below its June 20 high.
  • According to FactSet, 92% of analysts covering the stock recommend buying or overweight, while 8% recommend holding. The average price target is $142.63, and the stock closed today at $128.30.
  • Nvidia is up 20.5% over the past three months.
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Nvidia’s performance over the last three months

CrowdStrike

  • CNBC TV’s Steve Kovach will present the quarterly results after the market closes.
  • There is a lot of drama for CrowdStrike after a major IT outage on July 19th.
  • Since then, the stock has fallen 21.5%.
  • Previously, there had been a downward trend. Since the peak on July 9, the price is 32% below that level.
  • However, in the last year, CrowdStrike has grown by 80%.
  • The stock has fallen 23% in the last three months.

Salesforce

  • CNBC TV’s Julia Boorstin will report when the company releases its quarterly results after the market closes.
  • The share price is 17% below its March high.
  • Salesforce has fallen by 3% in the last three months.
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Salesforce in 2024

The great American consumer

  • There were two good comments here on CNBC on Tuesday from NYSE producer and earnings guru Robert Hum.
  • He observed Nordstrom And PVH. Both saw strong sales at regular/full price.
  • Both performed better than expected.
  • Nordstrom is up 6% after the market close. The stock is down 7% in August.
  • PVH fell 7% after the market closed. The stock is up 4.4% in a month.

Foot Locker

  • The retailer reported this on Wednesday morning.
  • Foot Locker is 8% from the peak in February.
  • The stock has risen nearly 49% in the last three months.
  • Nike has fallen by 7% during this period, down 31% from its peak in December.
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Foot Locker’s performance over the last three months

China

Rob Lynch, CEO of Shake Shack

  • Wednesday marks 100 days since Rob Lynch took over as CEO.
  • ShakeShack has risen 10% in three months and is 3.5% below its May 6 peak.

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