Crypto News 

Nvidia Shares Plummet Due to Cryptocurrency Mining Slowdown

“Chip designer Nvidia has its shares drop by over 19 percent due to a slowdown in cryptocurrency mining and a glut of inventory” writes Jeffrey Francis for livebitcoinnews.com. The chip designer took full advantage of the cryptocurrency mining boom, and business was very good indeed.Now the slowdown in cryptocurrency mining has severely impacted the company’s fortunes.The company has definitely soured on cryptocurrency mining, and for good reason. Source: livebitcoinnews.com Share This:

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News 

Facebook is testing a new feature called ‘Watch Videos Together’ on Messenger

“Along with allowing Messenger users to create shared experiences from afar, the “Watch Videos Together” feature would introduce new revenue opportunities for the company, the report said” reports firstpost.com. Since the News Feed ad revenue growth has slowed down amidst fluctuating user growth and limited ad space, the social media giant has recently been focussing on its subsidiaries like Messenger and photo-messaging app Instagram to increase monetisation. Source: firstpost.com Share This:

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Crypto Markets News 

Crypto-mining crash leaves Nvidia with ‘excess’ inventory of Pascal cards

“Gaming revenue was short of our expectations, and our fourth quarter outlook is impacted by excess channel inventory of midrange Pascal products,” Nvidia said” reports pcgamer.com. Nvidia also noted a 23 percent reduction in OEM and IP revenue “due to the absence of crypto-currency mining.”. Life will go on for Nvidia, but like ripping off a Band-Aid, it is feeling some temporary pain from the GPU market bottoming out in the cryptocurrency sector. Source: pcgamer.com Share This:

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Markets News 

Wall Street newest billion-dollar battleground: Small town, USA…

“Among the top three banks in mergers, only Morgan Stanley doesn’t have a publicly disclosed initiative in this market, according to a spokeswoman” writes Source Jp Morgan for cnbc.com. Now, he’s running into Goldman on a daily basis as the two banks compete to provide companies advice on mergers and other deals.Historically the domain of smaller investment banks like William Blair and Piper Jaffray, big banks have pumped resources into the regional advisory business as revenue growth from trading desks has proved elusive. Source: cnbc.com Share This:

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Sonos offers teaser for new line of products as shares rocket 10%

“Better-than-expected earnings and a teaser for a new product line sent shares of high-end speaker maker Sonos Inc. up 10% on Friday” writes Ciara Linnane for marketwatch.com. Sonos shares have gained 22.9% in the last month, while the S&P 500 SPX, +0.23%  has gained 0.5%.The company also has high hopes for its partnership with home goods retail giant IKEA, which is now offering a home listening system using Sonos speakers. Source: marketwatch.com Share This:

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News Stocks 

Nvidia stock removed from Goldman Sachs Conviction List on increased near-term uncertainty

“Goldman Sachs removed Nvidia Corp. stock NVDA, +2.64% from its Conviction List on Friday, citing increased near-term uncertainty after Thursday’s quarterly earnings” writes Ciara Linnane for marketwatch.com. The stock has fallen 15.5% since it was added to the list, while the S&P 500 SPX, +1.06% has fallen just 1.4% analysts wrote in a note.Nvidia predicted a fall in revenue in the fourth quarter versus the third quarter and year-earlier one, because of an inventory backlog of its Pascal-based gaming cards. Source: marketwatch.com Share This:

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‘Mission Impossible’ powers Viacom results beat

“(Reuters) – Viacom Inc , the owner of MTV, Comedy Central and Nickelodeon, beat Wall Street estimates for profit and revenue on Friday, lifted by the strong performance of “Mission: Impossible – Fallout.”” writes Midwest Communications Inc for 95kqds.com. Analysts on average had expected a profit of 95 cents per share and revenue of $3.37 billion.Total revenue in its fiscal fourth quarter, ended Sept. 30, rose 5 percent to $3.49 billion from $3.32 billion a year earlier. Source: 95kqds.com Share This:

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Markets News 

a miss on Wall Street analyst estimates

“Nvidia (NVDA) reported a big miss on both the top and bottom lines for Q3 after market close on Thursday” writes Heidi Chung for yahoo.com. Nvidia gave weak revenue guidance for Q4, and now the company expects $2.70 billion in revenue versus estimates of $3.4 billion.Investors and analysts have been paying close attention to graphics-processing unit (GPU) sales in Q3, as this was the first earnings report since the company launched GPUs.Nvidia shares have been underperforming the broad market in the past year, falling nearly 5% while the S&P 500…

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Crypto News 

Nvidia Q3: revenue of $3.18B, up 21% YoY, vs. $3.24B est., gaming revenue of $1.76B, vs. $1.89B est., and net income of $1.2B; stock down 16%+ after hours

“In its fiscal second-quarter earnings, the chipmaker fell short of analyst expectations on guidance despite beating on earnings and revenue estimates” writes Jordan Novet for cnbc.com. Overall, in the fiscal third quarter, Nvidia’s revenue rose 21 percent year over year, according to its earnings statement.But as both currencies have sunk in value, so too has this segment of revenue for Nvidia.In the quarter Nvidia had a $57 million charge related to older products because of the decrease in demand for cryptocurrency mining.Here’s how the company did: With respect to guidance,…

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News Stocks 

Rumors of weak iPhone demand heat up as at least four Apple suppliers cut revenue forecasts

“At least four Apple suppliers have cut their revenue forecasts this week, fueling speculation that Apple is scaling back manufacturing of the iPhone” writes unknown author for cnbc.com. Wall Street has certainly taken note, with several firms downgrading the stock this week and Apple’s stock falling into bear market territory. Source: cnbc.com Share This:

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