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NEW YORK, June 25 (Reuters) - Shares of Nvidia (NVDA.O) New Tab , opens new tab surged nearly 7% on Tuesday, snapping out of a three-session tailspin that had erased about $430 billion from the artificial intelligence chipmaker's market value. Nvidia's shares finished at $126.09, after a tumble that saw them lose around 13% from their June 18 close of $135.58. The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Bullishness on Nvidia was evident in the options market, though the stock's recent share price slide appears to have made traders more cautious. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Tom Hayes, it's, Hayes, Tyrone Siu, Tom Plumb, Plumb, you've, Mario Iachini, Chibuike Oguh, Saqib Iqbal Ahmed, Suzanne McGee, Medha Singh, Lewis Krauskopf, Ira Iosebashvili, Chris Reese, Aurora Ellis, David Gregorio Our Organizations: YORK, Nvidia, Great, Nvidia Corporation, REUTERS, Plumb Funds, Ortex Technologies, Vanda Research, Thomson Locations: New York, Taipei, Taiwan

☆ Crypto stocks set to start December on high note as bitcoin hits near 19-month high
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Shares of bitcoin miners - whose profitability improves as bitcoin climbs - including Riot Platforms (RIOT.O), Marathon Digital (MARA.O) and TeraWulf (WULF.O) rose between 1.7% and 4%. "Higher crypto prices should lead to a boost in transaction volume and transaction revenues for Coinbase as we enter 2024," said CFRA Research analyst Michael Elliott. However, Elliott cautioned the crypto exchange faces both legal challenges and new regulations that are likely to take time to play out and will continue to result in volatility for the stock. The ETF approval bets have helped counter latest concerns after Changpeng Zhao, the founder of the world's largest crypto exchange, stepped down and pleaded guilty to breaking U.S. anti-money laundering laws. Among other gainers were U.S. software developer and bitcoin investor Microstrategy (MSTR.O), up nearly 3.5%, and ProShares Bitcoin Strategy ETF (BITO.P), which added 2.1%.

Persons: Dado Ruvic, Noelle Acheson, J.P.Morgan, Iris, Michael Elliott, Elliott, Changpeng Zhao, Microstrategy, Medha Singh, Sriraj Kalluvila, Krishna Chandra Organizations: REUTERS, Cipher Mining, Iris Energy, Marathon, CFRA, Thomson Locations: bitcoin, Bengaluru

NEW YORK, Nov 29 (Reuters) - Shares of German sandal maker Birkenstock (BIRK.N) extended their gains on Wednesday, hitting the initial public offering price for the first time, following a buoyant holiday shopping season. The company's shares opened at $41 on Oct. 11 and have traded below the IPO price of $46 and dropped to as low as $35.83 just days after listing. The median price target of the 17 analysts covering Birkenstock is $47.21 and the current recommendation is "buy", according to LSEG data. Birkenstock is heavily shorted, with 5.71 million shares worth roughly $259 million having short interest, according to data and analytics firm Ortex. About 32.3 million shares were sold on the IPO.

Persons: Bernard Arnault, Louis Vuitton Moet Hennessy, Chibuike Oguh, Medha Singh, Lance Tupper, Lisa Shumaker Organizations: Birkenstock, Arm Holdings, U.S, Thomson Locations: Birkenstock, French, New York, Bengaluru

☆ GameStop shares climb on strong volume
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

The videogame retailer's shares were last at $15.12, the third most actively traded stock on the New York Stock Exchange at 5:50 a.m. On Tuesday, GameStop shares had their biggest one-day percentage gain in eight months on no clear news catalyst. AMC Entertainment (AMC.N), another favorite among retail traders, rose nearly 4% to $6.95. "The market optimism now vacuum retail traders in – and it's the ultimate signal that the (market) rally is overstretched," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. GameStop shares have slumped 27% in 2023 up to Tuesday's close, while AMC had wiped out 80% of its value.

Persons: Andrew Kelly, GameStop, Ipek Ozkardeskaya, Medha Singh, Krishna Chandra Organizations: GameStop Corp, New York Stock Exchange, REUTERS, GameStop, AMC Entertainment, AMC, Swissquote Bank, Thomson Locations: Manhattan , New York City, U.S, –, Bengaluru

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. Anticipation of easing U.S. borrowing costs and a possible U.S. spot bitcoin exchange-traded fund have lifted crypto prices since the summer, with market bitcoin gaining by about half since the end of August. Ether , the layer 1 token linked to the Ethereum blockchain on which most layer 2 tokens are based, has leapt 13.8% to $2,028.80 in the past month. They are often among the last ones to catch a bid when broader crypto market rises and among the first ones to sell off when sentiment is shaken. Numerous projects and their tokens were launched as the crypto market boomed in 2020, before sinking during the crypto winter of 2022.

Persons: Benoit Tessier, It's, Matteo Greco, Joshua Peck, Peck, Alyse Killeen, Fineqia International's, Lisa Mattackal, Medha Singh, Tom Wilson Organizations: La Maison du, REUTERS, Fineqia, Reuters, Thomson Locations: La, Paris, France, U.S, Stillmark, Bengaluru

☆ Retail traders cash out as market rallies on bets of end to rate hikes
▼ + stars: | 2023-11-16 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. Retail traders, who used to band together on online platforms to chase highly shorted shares during the days of easy money, have been seeing a reversal of fortunes as rising rates diminish their holdings in high-risk, high-return assets. "Seasonality suggests that retail investors are unlikely to support any year-end rally, except for big-tech," Vanda's Mantle said. Despite their overall slow buying, there were spurts of activity where retail traders chased sharp rallies in some small cap names - a typical trading strategy. "If we don't get any follow through it would be hard to say we've got retail traders back in the game," said Paul Nolte, senior wealth advisor and market strategist at Murphy & Sylvest Wealth Management.

Persons: Brendan McDermid, Vanda, Morgan, Lucas Mantle, Vanda's Mantle, Paul Nolte, Medha Singh, Arun Koyyur Organizations: New York Stock Exchange, REUTERS, Vanda Research, Retail, P Global Market Intelligence, Murphy, Sylvest Wealth, Thomson Locations: New York City, U.S, Bengaluru

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 14 (Reuters) - Bitcoin miners are making hay while the sun shines. "You're seeing a lot of urgency to plug rigs in ahead of the halving," said Gregory Lewis, analyst at brokerage BTIG that covers the 13 biggest U.S.-listed bitcoin miners. That means miners are having to use more and more power and speed to crack the complex maths puzzles that earn them a bitcoin. "It's too early to say if all bitcoin miners are out of the wood," said Ludovic Thomas, portfolio manager at Swiss-based Criptonite Asset Management that invests in digital assets.

Persons: Benoit Tessier, Gregory Lewis, Bitcoin's, Morgan, William Szamosszegi, Matteo Greco, It's, Ludovic Thomas, Medha Singh, Lisa Mattackal, Vidya Ranganathan Organizations: La Maison du, REUTERS, U.S, Fineqia, Central, Swiss, Management, Thomson, Reuters Locations: La, Paris, France, J.P, Bengaluru

REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Nov 13 (Reuters) - Shares of financial services firm B. Riley (RILY.O) plummeted nearly 35% on Monday, extending losses for the fourth consecutive session, after it disclosed unrealized investment losses and S&P Global Ratings downgraded a key asset. That markdown resulted in B. Riley reporting a net loss of $75.8 million in the third quarter, compared with a profit of $45.8 million a year earlier. "We do not believe that the recent movement in our share price is warranted based on the fundamental strength and performance of our diversified platform," a B. Riley spokesperson said in a statement. B. Riley has also been targeted by a short seller. "Although B Riley attempted to address short seller concerns on their recent earnings call, the information they provided was limited," said Rick Meckler, partner at Cherry Lane Investments.

Persons: Brendan McDermid, Riley, Brian Kahn, Kahn, John Hughes, Bryant Riley, Rick Meckler, Meckler, Chibuike Oguh, Medha Singh, Niket, Deepa Babington, Stephen Coates Organizations: New York Stock Exchange, REUTERS, Reuters Graphics, Group's, Bloomberg, Reuters, Wolfpack Research, Cherry Lane Investments, Thomson Locations: New York City, U.S, Los Angeles, New York

☆ Medical device stocks rise in relief after Wegovy heart benefits data
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. To be sure, the full results presented on Saturday at a major medical meeting gave analysts even more confidence in the heart protective benefits of the hugely popular drug. That lifted shares of Penumbra (PEN.N), which makes devices used in surgeries for stroke patients, 13% in morning trading. Its shares have tumbled about 28% as of last close since Novo in August said Wegovy had also shown a clear cardiovascular benefit. "The full detailed results ... do not shift our outlook that MedTech device stocks appear broadly oversold," said Leerink analyst Mike Kratky.

Persons: Victoria Klesty, Wegovy, Baird, Jeff Johnson, Eli Lilly's, Mike Kratky, Leroy Leo, Medha Singh, Sriraj Organizations: REUTERS, Novo, Devices, Abbott Laboratories, Thomson Locations: Oslo, Norway, Victoria, MedTech, Penumbra, Novo, Friday's, Bengaluru

☆ Novo Nordisk shares rise as Wegovy shows heart benefits beyond weight loss
▼ + stars: | 2023-11-13 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

LONDON, Nov 13 (Reuters) - Novo Nordisk (NOVOb.CO) shares rose 3% on Monday as the market reacted to data the drugmaker presented over the weekend showing that the heart protective benefits of its popular obesity drug Wegovy are not solely due to weight loss. Wegovy is part of a class of drugs that mimic a gut hormone that helps regulate blood sugar and appetite. U.S. companies across sectors such as food and beverage makers have addressed investor concerns on the potential impact to their businesses from the growing popularity of the promising weight-loss drugs. Novo was first to market with its highly effective weight loss drugs. At the close of markets on Friday, Novo's shares were up 47.5% this year.

Persons: Markus Manns, Jefferies, Wegovy, Novo, Eli Lilly's, Lilly, Novo's, Maggie Fick, Boleslaw Lasocki, Medha Singh, Louise Heavens Organizations: Novo Nordisk, Novo, Union Investment, Reuters, Pfizer, Jefferies, U.S, Thomson Locations: United, Germany, Novo, U.S, Bengaluru

☆ WeWork shares sink on reports of imminent plans for bankruptcy filing
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - WeWork shares (WE.N) tanked over 35% in premarket trading on Wednesday after media reports that the flexible workspace provider was planning to file for bankruptcy as early as next week. The bankruptcy filing would follow a series of troubles for the SoftBank-backed company since its IPO plans imploded in 2019 on skepticism over its business model of taking long-term leases and renting them for short term. WeWork is mulling over filing a Chapter 11 petition in New Jersey, the WSJ first reported on Tuesday. The stock was last trading at $1.45 before the opening bell, after losing about 96% of its value this year. Reporting by Medha Singh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Susannah Streeter, Hargreaves Lansdown, Medha Singh, Shinjini Organizations: WSJ, Thomson Locations: New York, New Jersey, Bengaluru

Prosecutors are calling some FTX customers to testify that they were told their assets were safe, and to share how FTX's collapse affected them. "As the crypto market has recovered, many FTX customers are concluding that they can sell their claim, buy crypto again, and do much better than letting their claim depreciate," said Matthew Sedigh, CEO of Xclaim, a bankruptcy claims exchange. Some creditors Reuters interviewed declined to share evidence of their FTX claims because they contained personal information. 'A GREAT SUPPORT'Looking for answers, FTX creditors have created support groups. Xclaim lists over 2,000 FTX claims for sale, worth around $610 million at last November's crypto prices, Sedigh said.

Persons: Sam Bankman, Eduardo Munoz, Lee Rees, FTX, Rees, doesn't, Fried, scammers, Matthew Sedigh, John Ray, Kroll, ”, Maxime, Marc Antoine, Julliard, …, Sunil Kavuri, Kavuri, Sedigh, Luc Cohen, Michelle Price, Sharon Singleton Organizations: REUTERS, Alameda Research, Reuters, FTX, Thomson Locations: New York, U.S, London, FTX, Washington

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. It's a bit old hat, say a cohort of crypto investors who are betting on blockchain technology breathing new life into traditional assets. Others like Franklin Templeton, UBS Asset Management and ABN Amro (ABNd.AS) have launched tokenized versions of assets such as money market funds and green bonds. Indeed, the actual issuance and value of tokenized traditional assets remains small. Some market players now see significant advances.

Persons: Benoit Tessier, Franklin Templeton, Colin Butler, tokenization, hasn't, Morgan Krupetsky, Doug Schwenk, Lisa Mattackal, Medha Singh, Tom Wilson, Pravin Organizations: La Maison du, REUTERS, London Stock Exchange, Mirae, Securities, UBS Asset Management, ABN Amro, Polygon Labs, Reuters Graphics, Northern Trust, HSBC, Ava Labs, Digital Asset Research, Thomson, Reuters Locations: La, Paris, France, U.S, blockchain, Bengaluru

☆ Cash-strapped Faraday Future's shares sink 20% on share sale plan
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

Faraday Future's luxury electric car FF91 is seen at the company's headquarters in Gardena, California, U.S. November 21, 2019. REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsSept 27 (Reuters) - Shares of Faraday Future Intelligent Electric (FFIE.O) slumped in premarket trading on Wednesday, after the cash-strapped electric-vehicle company announced plans to raise up to $90 million through a stock offering. Shares of the company, that has a market value of $45.75 million, dropped 20% to $1.94 in trading after closing at a record low of $2.46 on Tuesday. Its shares have dropped over 85% so far in 2023. Reporting by Medha Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Faraday, Lucy Nicholson, Matthias Aydt, Medha Singh, Krishna Chandra Organizations: REUTERS, FF, Thomson Locations: Gardena , California, U.S, Los Angeles, Bengaluru

☆ What industry experts, leaders say about the autoworkers' strike
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +7 min

SAM FIORANI, PRODUCTION FORECASTER AT AUTO FORECAST SOLUTIONS:"This is more of a symbolic strike than an actual damaging one ... DEMOCRATIC U.S. REPRESENTATIVE ELISSA SLOTKIN OF MICHIGAN:"I'm looking forward to joining our auto workers on the picket line this weekend. DONALD TRUMP, FORMER U.S. PRESIDENT:"The all Electric (car) is a disaster for both the United Auto Workers and the American Consumer. The targeted strike is intended to give UAW flexibility strike fund duration." SUZANNE CLARK, CEO OF US CHAMBER OF COMMERCE"The UAW strike and indeed the 'summer of strikes' is the natural result of the Biden administration's 'whole of government' approach to promoting unionization at all costs."

Persons: MARY BARRA, who's, we've, Shawn, Fain, DAN IVES, KOJI ENDO, LEE JAE, ARTHUR WHEATON, It's, ELISSA SLOTKIN, JAY TIMMONS, MONICA BOSIO, Stellantis, MARTINO, AMBROGGI, DONALD TRUMP, CHRIS MCNALLY, COLIN LANGAN, AT WELLS, PATRICK ANDERSON, JOHN MURPHY, Ford, ROBERT STREDA, DBRS, SUZANNE CLARK, Biden, Joseph White, David Shepardson, Trevor Hunnicutt, Peter Henderson, Heekyong Yang, Daniel Leussink, Giulio Piovaccari, Mehr Bedi, Medha Singh, Anne Marie Roantree, Jamie Freed, Savio D'Souza, Arun Koyyur Organizations: United Auto Workers, UAW, General Motors, Ford, Chrysler, Ford Bronco, Chevrolet, CNBC, GM, SBI, EUGENE, South, CORNELL SCHOOL, Company, DEMOCRATIC U.S, ELISSA SLOTKIN OF, NATIONAL ASSOCIATION, American Consumer, ISI, AT, Detroit, Thomson Locations: Chevrolet Colorado, Detroit, United States, ELISSA SLOTKIN OF MICHIGAN, China, Washington, San Francisco, Seoul, Tokyo, Milan, Bengaluru

"We are making bold decisions to meet our commitments to our shareholders," Fraser, 56, said in a statement. The latest changes have already eliminated 35 committees, Fraser said, citing an example of efforts to reduce bureaucracy. Job cuts are expected, but the bank did not estimate the number of positions being eliminated or the financial impact, sources familiar with the matter said. "Investors are only going to give Citigroup credit for hard numbers meeting their goals," said Eric Compton, banking analyst at Morningstar. Citi is eliminating layers in former divisions Institutional Clients Group and Personal Banking and Wealth Management.

Persons: Jane Fraser, Fraser, Shahmir Khaliq, Andrew Morton, Peter Babej, Gonzalo Luchetti, Andy Sieg, Wells, JPMorgan Chase, Brian Mulberry, Eric Compton, Ernesto Cantu, Mark Mason, Tatiana Bautzer, Saeed Azhar, Medha Singh, Lananh Nguyen, Nick Zieminski, Jonathan Oatis Organizations: Citigroup, Citi, Bank of America, JPMorgan, Zacks Investment Management, Morningstar, Wealth Management, International, Thomson Locations: North America, New York

☆ Tesla jumps on prediction supercomputer unit could add $600 bln to mkt value
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Dojo can open up new addressable markets that "extend well beyond selling vehicles at a fixed price," Morgan Stanley analysts led by Adam Jonas said in a note on Sunday. The Wall Street brokerage upgraded Tesla's stock to "overweight" from "equal-weight" and made it their "top pick," replacing Ferrari's U.S.-listed shares . That's about 76% higher than Tesla's market value of about $789 billion, based on the stock's close of $248.5 on Friday. Morgan Stanley raised its revenue estimate from Tesla's network services business to $335 billion in 2040, from $157 billion earlier. Jonas expects the unit to account for more than 60% of Tesla's core earnings by 2040, nearly doubling from 2030.

Persons: Matthew Childs, Morgan Stanley, Tesla, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Medha Singh, Savio D'Souza, Sherry Jacob, Phillips, Rashmi Organizations: REUTERS, Dojo, Ferrari's U.S, Ford, Motors, Thomson Locations: London, Britain, Bengaluru

☆ Tesla jumps as analyst predicts $600 billion value boost from Dojo
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo Acquire Licensing RightsSept 11 (Reuters) - Tesla rallied 6% on Monday after Morgan Stanley said its Dojo supercomputer could power a near $600 billion surge in the electric-car maker's market value by helping speed up its foray into robotaxis and software services. The Wall Street brokerage upgraded Tesla's stock to "overweight" from "equal-weight" and replaced Ferrari's U.S.-listed shares with it as "top pick". That is about 76% higher than Tesla's market value of about $789 billion, based on the stock's close of $248.5 on Friday. Morgan Stanley raised its revenue estimate for Tesla's network services business to $335 billion in 2040 from $157 billion earlier.

Persons: Matthew Childs, Tesla, Morgan Stanley, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Medha Singh, Savio D'Souza, Sherry Jacob, Phillips, Rashmi Aich, Anil D'Silva Organizations: REUTERS, Dojo, Ford, Motors, Thomson Locations: London, Britain, Ferrari's U.S, Bengaluru

☆ C3.ai falls after AI-play drops profit target
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

The $3.71 billion stock, among the small-cap AI firms that have benefited from excitement around Generative AI sparked by the success of ChatGPT, has surged about 180% so far this year. However, the Redwood City, California-based company scrapped its target to achieve quarterly profit by April 30, 2024 as it looks to invest in its Generative AI solutions. "After careful consideration... we have made the decision to invest in lead generation, branding, market awareness and customer success related to our Generative AI solutions," said CEO Thomas Siebel. Shares are down 21% since early June when the company's disappointing quarterly revenue forecast dented some of the recent euphoria around artificial intelligence-linked stocks. Reporting by Medha Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Siebel, Pinjalim Bora, Bora, Medha Singh, Krishna Chandra Organizations: Thomson Locations: Redwood City , California, Bengaluru

While breezy bitcoin has bounced back, leaping by about 55% this year, investments in crypto startups have dropped for the fifth straight quarter. VC crypto bets totaled just under $2.3 billion in April-July this year, the lowest quarterly level for over three years, according to data firm PitchBook. In the first half of 2023, investments were down by almost three-quarters from a year ago to $5 billion. Those that are raising capital now are probably doing it because they have to," said Adam Reeds, CEO of Toronto-based crypto finance company Ledn. VC crypto investments have correlated with crypto asset prices with a lag of roughly three to six months, according to PitchBook, and if current trends continue, VC investment would rise during the second half of 2023.

Persons: Dado Ruvic, Tal Elyashiv, Crypto, Cameron Peake, Adam Reeds, Alyse Killeen, Medha Singh, Lisa Pauline Mattackal, Tom Wilson, Pravin Organizations: REUTERS, Arrows Capital, Restive Ventures, LayerZero, Thomson, Reuters Locations: Toronto, Bengaluru

As a result, investing in equal-weighted ETFs that provide a more diversified approach and offer exposure to old economy-linked sectors such as energy and manufacturing are coming back in favor as investors look to broaden their exposure beyond Big Tech. Laura Cooper of BlackRock said the company's "highest conviction call" in the United States is the S&P 500 equal-weight. The $42-billion Invesco S&P 500 equal-weighted ETF , which mirrors the performance of the S&P 500 equal-weight index (.SPXEW), saw inflows of $8.80 billion from the beginning of June through Aug. 25, according to Refinitiv Lipper data. In comparison, the much larger $402-billion SPDR S&P 500 ETF Trust , which tracks moves in the market cap weighted S&P 500 (.SPX), bled $10.88 billion during the same period. Invesco S&P 500 equal-weighted ETF drew $4.85 billion inflows in June, the most since the fund was launched in 2003, followed by $3.53 billion in July, the second highest on record.

Persons: Brendan McDermid, Laura Cooper, BlackRock, Cooper, Dan Boardman, Jake Dollarhide, BlackRock's Cooper, Sruthi Shankar, Medha Singh, Sweta Singh, Shounak Organizations: New York Stock Exchange, REUTERS, U.S . Federal, Big Tech, iShares EMEA, BlackRock, Trust, BRI Wealth Management, Apple, Microsoft, Nvidia, Google, Facebook, Meta, Nasdaq, Longbow Asset Management Company, Thomson Locations: New York City, U.S, United States, Weston, Bengaluru

☆ Hawaiian Electric shares sink on wildfire lawsuit, dividend pause, ratings cut
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Aug 25 (Reuters) - Hawaiian Electric shares (HE.N) on Friday plunged to their lowest level since 1984 as a lawsuit alleging negligence leading to Maui wildfires raised investor worries over the financial health of the utility that has paused dividend payout. "We are very disappointed that Maui County chose this litigious path while the investigation is still unfolding," the company told Reuters. S&P Global Ratings, meanwhile, initiated its second rating cut on the company and its units this month, to 'B-' from 'BB-'. Moody's and Fitch have also lowered Hawaiian Electric to junk status. Its shares have lost more than half of its market value since the Aug. 8 wildfire.

Persons: Wells, Jonathan Reeder, Moody's, Fitch, Reeder, Medha Singh, Arunima Kumar, Arun Koyyur Organizations: Electric, Maui, Reuters, Hawaiian Electric Industries, Thomson Locations: Maui, Honolulu, Lahaina, Bengaluru

Nvidia's stock rose as high as $502.66, topping a record hit earlier this week, The first trillion-dollar chip maker pared some gains and was last up 0.8%% at $474.6. The technology-heavy Nasdaq Composite (.IXIC), buoyed by Nvidia, rose in early trade before falling by 1.36%. Reuters GraphicsMore than 20 brokerages raised their target price on Nvidia after the earnings. The median analyst price target on the stock has nearly doubled to $600 since May when the company forecast a 50% jump in second-quarter revenue. Short sellers of Nvidia's stock have made $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed.

Persons: Ann Wang, Michael James, James, Elazar, Tom Plumb, Plumb, Matthew Tuttle, Susan Mathew, Chavi Mehta, Medha Singh, Shreyashi Sanyal, Shristi Achar, Amruta, Noel Randewich, Varun H, Shinjini Ganguli, Sharon Singleton, David Gregorio Our Organizations: REUTERS, Nvidia, Philadelphia Semiconductor, Marvell Technology, Devices Inc, Intel, Nasdaq, Wedbush Securities, Reuters, Elazar Advisors, Rosenblatt Securities, Plumb Funds, Partners, Tuttle Capital Management, Thomson Locations: Taipei, Taiwan, Clara , California, Bengaluru, Chibuike, New York, Oakland , California

☆ Nvidia short sellers lose $826 mln as stock jumps after strong forecast
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: 1 min

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsAug 24 (Reuters) - Investors with short position on Nvidia (NVDA.O) lost $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed, as the world's largest chipmaker's shares surged after a strong revenue forecast. Bearish bets on the chip designer, which is the biggest beneficiary of AI boom, have cost investors $11.36 billion in paper losses so far this year, neck-to-neck with Tesla (TSLA.O) as the worst performing short bet, S3 Partners said. Nvidia shares rose 7.4% to $506.30 before the opening bell. Reporting by Medha Singh in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Medha Singh, Arun Koyyur Organizations: REUTERS, Nvidia, Partners, Thomson Locations: Taipei, Taiwan, Bengaluru

☆ Nvidia shares up on hopes of strong results powering another AI rally
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Shares of the most valuable chip company had briefly scaled a record high in the previous session, but ended 2.8% lower as overall markets slipped. Investors expect upbeat results from Nvidia, whose shares are the top performer on S&P 500 this year, to revive a stocks rally that has struggled in recent weeks. Investors will be looking at sales at Nvidia's data center unit, home to its prized H100 chip used in AI. "Anything less than absolutely fantastic could trigger a sharp downside correction in Nvidia's stock price," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Persons: Robert Galbraith, AJ Bell, Russ Mould, Ipek Ozkardeskaya, Medha Singh, Arun Koyyur Organizations: Nvidia, REUTERS, Reuters, Apple, Swissquote Bank, Thomson Locations: Santa Clara , California, Bengaluru

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