
Shares of Nvidia fell Monday after China said it is investigating the high-flying U.S. microchip company over suspected violations of Chinese anti-monopoly laws. In a brief news release with few details, Chinese regulators appear to be focusing on Nvidia’s $6.9 billion acquisition of network and data transmission company Mellanox in 2019. Nvidia shares about 3% Monday. They are still up 179% so far this year. Considered a bellwether for artificial intelligence demand, Nvidia has led the AI sector to become one of the stock market’s biggest companies, as tech giants spend heavily on the company’s chips and data centers needed to train and operate their AI systems. Nvidia’s shares have surged this year along with the California company’s revenue and profit due to AI demand. According to data firm FactSet, about 16% of Nvidia’s revenue comes from China, second only to its U.S.-generated revenue. A spokesperson for the company based in Santa Clara, California, said in an emailed statement that Nvidia is “happy to answer any questions regulators may have about our business.” In its most recent earnings release, Nvidia posted revenue of $35.08 billion, up 94% from $18.12 billion a year ago. Nvidia earned $19.31 billion in the quarter, more than double the $9.24 billion it posted in last year’s third quarter. The earnings release did not break out revenue from China. The company’s market value rocketed to $3.5 trillion recently, passing Microsoft and briefly overtaking Apple as the world’s most valuable company. China’s antitrust investigation follows a report this summer by technology news site The Information that the U.S. Justice Department was investigating complaints from rivals that Nvidia was abusing its market dominance in the chip sector. The allegations reported include Nvidia threatening to punish those who buy products from both itself and its competitors at the same time. David Bieri, an international finance expert at Virginia Tech, said that China’s investigation is “not about what Nvidia is doing in China, per se” but rather a signal to the incoming Trump administration. China, Bieri said, is looking to set the tone of future relations. The Chinese government, he said, is telling the U.S. “don’t mess with us, because all of your darling corporations that your version of capitalism needs to prosper have entanglements” with China. Nvidia will have to revise its strategy in China or come up with provisions in their budgets for the type of uncertainty business with China will bring, Bieri said. “I don’t think this is something that they can shake off,” he said. “I also have a tremendous amount of faith in the brilliance of the management strategy of a corporation like Nvidia to not only pay attention to credit risk, market risk and operational risk, but also to political risk.” Nvidia’s invention of graphics processor chips, or GPUs, in 1999 helped spark the growth of the PC gaming market and redefined computer graphics. Last month, it replaced Intel on the Dow Jones Industrial Average, ending the pioneering semiconductor company’s 25-year run on the index. Unlike Intel, Nvidia designs but doesn’t manufacture its own chips, relying heavily on Taiwan Semiconductor Manufacturing Co., an Intel rival. ___ Associated Press Technology Writer Sarah Parvini in Los Angeles contributed to this report. Southern California's notorious Santa Ana winds were predicted to return Shares of Nvidia fell Monday after China said it is The nominations for the Golden Globe Awards are a starry He’s one of the most famous corporate leaders in the
Throughout the last three months, 8 analysts have evaluated Accolade ACCD , offering a diverse set of opinions from bullish to bearish. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 4 1 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 4 1 2 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $6.81, along with a high estimate of $8.00 and a low estimate of $5.00. Experiencing a 18.05% decline, the current average is now lower than the previous average price target of $8.31. Investigating Analyst Ratings: An Elaborate Study A comprehensive examination of how financial experts perceive Accolade is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Ricky Goldwasser Morgan Stanley Lowers Equal-Weight $5.00 $6.00 Stan Berenshteyn Wells Fargo Lowers Equal-Weight $6.00 $7.00 Jailendra Singh Truist Securities Lowers Buy $7.50 $9.00 Richard Close Canaccord Genuity Lowers Buy $7.00 $13.00 Stephanie Davis Barclays Lowers Equal-Weight $5.00 $5.50 Jeff Garro Stephens & Co. Lowers Overweight $8.00 $10.00 Ryan MacDonald Needham Maintains Buy $8.00 $8.00 Ryan MacDonald Needham Maintains Buy $8.00 $8.00 Key Insights: Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Accolade. This offers insight into analysts' perspectives on the current state of the company. Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Accolade compared to the broader market. Price Targets: Delving into movements, analysts provide estimates for the future value of Accolade's stock. This analysis reveals shifts in analysts' expectations over time. Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Accolade's market standing. Stay informed and make data-driven decisions with our Ratings Table. Stay up to date on Accolade analyst ratings. If you are interested in following small-cap stock news and performance you can start by tracking it here . About Accolade Accolade Inc offers technology-enabled solutions that help people understand, navigate, and utilize the healthcare system and their workplace benefits. The company's platform combines open, cloud-based intelligent technology with multimodal support from a team of Accolade Care Advocates and clinicians, including registered nurses, physician medical directors, pharmacists, primary care physicians, and other professionals to provide advocacy, medical opinion, and virtual primary care services. Accolade: Financial Performance Dissected Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers. Revenue Growth: Over the 3 months period, Accolade showcased positive performance, achieving a revenue growth rate of 9.8% as of 31 August, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Health Care sector. Net Margin: Accolade's net margin excels beyond industry benchmarks, reaching -22.5% . This signifies efficient cost management and strong financial health. Return on Equity (ROE): Accolade's ROE excels beyond industry benchmarks, reaching -5.58% . This signifies robust financial management and efficient use of shareholder equity capital. Return on Assets (ROA): Accolade's ROA excels beyond industry benchmarks, reaching -3.14% . This signifies efficient management of assets and strong financial health. Debt Management: Accolade's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.56 . How Are Analyst Ratings Determined? Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter. Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error. Which Stocks Are Analysts Recommending Now? Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market . This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.NA passes NA Secretariat Employees (Amendment) Bill, 2024 NA also passes Nippon Institute of Advanced Sciences Act, 2024 ISLAMABAD: The National Assembly (NA) on Tuesday passed the NA Secretariat Employees (Amendment) Bill, 2024, which amends the National Assembly Secretariat Employees Act, 2018. The bill was moved by Syed Naveed Qamar as private member bill. Minister for Parliamentary Affairs Azam Nazir Tarar said according to the bill, appointments for positions up to grade 15 in the NA secretariat would be made through advertisements to ensure merit-based hiring and appointments would be conducted through Public Service Commission. The NA also passed the Nippon Institute of Advanced Sciences Act, 2024. As many as eleven bills were laid in the NA and referred to the committees concerned by the chair for further consideration. The bills introduced include the Code of Criminal Procedure (Amendment) Bill, 2024, the Protection of Rights of Regularized Civil Servants and Employees Bill, the Westminster University of Emerging Sciences and Technologies, Islamabad Bill, 2024, the Criminal Laws (Amendment) Bill, 2024, (Section 498AA), the Code of Civil Procedure (Amendment) Bill, 2024, (Section 54A), the Corrosive Substances Assault (Prevention and Protection) Bill, 2024, the Climate Accountability Bill, 2024, the Pakistan Electronic Media Regulatory Authority (Amendment) Bill, 2024, the Code of Criminal Procedure (Amendment) Bill, 2024,(Amendment of Schedule II), the Pharmacy (Amendment) Bill, 2024 and the Ghurki Institute of Science and Technology Bill, 2024. Asiya Naz Tanoli, however, later withdrew the Drug Testing in Educational Institutions Bill, 2024.
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Varsities, colleges hold rallies, events to mark Constitution DayJulian Alvarez and second-half substitute Angel Correa scored twice as Atletico Madrid cruised to an easy 6-0 win at struggling Sparta Prague in the Champions League on Tuesday. The win leaves Diego Simeone’s Rojiblancos on nine points from five games in the competition, while Sparta have four. “Each win makes you happy, especially when the team plays like this throughout the game and scores like today,” Atletico coach Simeone told reporters in the Czech capital. “We really did well today,” he added, hailing his team for playing “with high intensity and speed”. Alvarez opened the scoring 15 minutes into the game as he was brought down just outside the box and then curled a free-kick into the top corner of Peter Vindahl’s goal. Marcos Llorente made it 2-0 two minutes from half-time as he chipped the ball towards the goal and Vindahl let it in, visibly fooled by striker Alexander Sorloth’s attempt at a glancing header. Alvarez fired in his second from close range on 59 minutes after a give-and-go with Giuliano Simeone, the coach’s son. Second-half substitute Antoine Griezmann made it 4-0 on 70 minutes with a low shot inside the box following a one-two with Llorente. Correa rounded off the score with two goals in the final five minutes, first poking in a pass from fellow substitute Samuel Lino and then finishing neatly after a mazy run through the static Sparta defence. – ‘All goals count’ – “The team understood what I want from them from the beginning to the end including the substitutes who played really well as soon as they entered the pitch,” said Diego Simeone. “All goals count. We tried to score as many as possible because it helps with this new format of the Champions League. “We are always aware the game has 90 minutes and we have to play as best we can,” he added. The 54-year-old Argentinian made six changes following Atletico’s 2-1 win over Alaves in La Liga on Saturday, his 700th game across all competitions in charge of the team. But there was little doubt about the outcome as Sparta only managed a single weak shot on goal through Kaan Kairinen in the opening minute. Atletico controlled the game, tirelessly testing the wobbly defence of the reigning Czech champions who have now only won two of their last 12 games in all competitions. Vindahl spared Sparta blushes on several occasions as he stopped close-range efforts from Rodrigo De Paul and Sorloth in the first half and Giuliano Simeone after the break. Atletico took a second straight away win in the Champions League at Sparta after stunning Paris Saint-Germain 2-1 earlier this month. With three games to play in the new-format league phase, they next face underdogs Slovan Bratislava at home on December 10. AFP
DAVIDSON, N.C. (AP) — Connor Kochera scored 34 points as Davidson beat Eastern Michigan 86-64 on Saturday. Kochera added five rebounds for the Wildcats (10-3). Bobby Durkin added 17 points while going 5 of 11 from the floor, including 3 for 7 from 3-point range, and 4 for 5 from the line while they also had five rebounds. Mike Loughnane shot 4 for 6 from beyond the arc to finish with 12 points. The Eagles (6-6) were led by Da'Sean Nelson, who recorded 16 points. Jalin Billingsley added 12 points and two steals for Eastern Michigan. Arne Osojnik also had 10 points. Davidson took the lead with 19:36 remaining in the first half and never looked back. The score was 41-21 at halftime, with Kochera racking up 16 points. Kochera scored 18 points in the second half to help lead the way as Davidson went on to secure a victory, outscoring Eastern Michigan by two points in the second half. Davidson plays Tuesday against George Mason on the road, and Eastern Michigan hosts Northern Illinois on Saturday. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
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