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Bloom Energy blossoms after reporting Q3 numbers

The market seems to like the better-than-expected news.

Fuel-cell-based power provider Bloom Energy— which has seen its market value soar by more than $20 billion thanks to a 1,000% run over the last year — reported better-than-expected numbers Tuesday after the close of trading in New York, sending the stock up in the after-hours session.

The company reported:

Adjusted earnings per share of $0.15 vs. the $0.10 expected by analysts, according to FactSet.
Revenue of $519.05 million vs. the $428.4 million consensus forecast.
Operating profits of $7.9 million vs. the $5.6 million analysts expected.

It’s worth noting that despite the company’s remarkable rise in market value, it’s still losing money when judged by the more stringent accounting standard known as GAAP — which incorporates the impact of debt management and stock options, among other expenses. Bloom Energy’s GAAP loss was $23.1 million during the quarter.

Matt Phillips3h

Visa reports solid beat on earnings

Visa inched up in after-hours trading, as it reported quarterly numbers that outpaced expectations. The solid, but unspectacular, outperformance — it beat earnings-per-share estimates by a penny — is par for the course for a company that’s developed a reputation as a boring, but consistent, moneymaker seemingly indifferent to economic conditions.

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Seagate rises after posting better-than-expected earnings

Makers of the affordable data storage technology known as hard disk drives have become hot stocks amid the AI boom.

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Tasha Matsumoto

Tech-fueled rally drives stocks to new records ahead of Fed rate decision and big earnings

The AI trade is back on as traders await tomorrow’s rate cut decision and megacap tech earnings on Wednesday and Thursday.

SATURDAY NIGHT LIVE -- Episode 1 -- Aired 09/28/1991 -- Pictured: (l-r) Chris Farley as Todd O'Connor, Robert Smigel as Carl Wollarski, Mike Myers as Pat Arnold during "Bill Swerski's Super Fans" skit

Max Knoblauch5h

Lucid plans to build a privately owned autonomous car with Nvidia tech

Shares of Lucid vaulted briefly on Tuesday afternoon following the company’s announcement that it will team up with Nvidia to bring Level 4 autonomous driving to its future vehicles.

A still unnamed midsized SUV by Lucid, planned for 2026, will feature lidar and radar provided by Nvidia’s ecosystem. Ultimately, the automaker said it aims to create the “first true eyes-off, hands-off, and mind-off (L4) consumer owned autonomous vehicle.” Level 4 autonomous vehicles, like Waymo’s robotaxis, operate without human intervention.

The Nvidia partnership will also bring new automated features to Lucid’s Gravity SUV, the luxury EV maker said. Its shares rose more than 6% before losing all those gains and dipping into the red.

Lucid and Nvidia’s announcements came along with a host of other new partnerships at the chip designer’s GPU Technology Conference in Washington, DC.

J. Edward Moreno5h

Lilly partners with Nvidia to build supercomputer for drug R&D

Eli Lilly is partnering with Nvidia to build “the most powerful supercomputer owned and operated by a pharmaceutical company” to help discover new medicines.

The drugmaker announced the deal on Tuesday, following a slew of deals Nvidia announced with other companies. Lilly did not specify the terms of the deal but did say it is using 1,000 Nvidia GPUs.

Lilly — the maker of the blockbuster diabetes and weight-loss shots Mounjaro and Zepbound — said the supercomputer “will help scientists identify, optimize and validate new molecules.”

“With purpose-built AI models and AI, we can set a new scientific standard that accelerates innovation to deliver medicines to more patients, faster,” Diogo Rau, Lilly’s chief information and digital officer, said in a statement.