Why NVIDIA, Roku, and Rite Aid Jumped Today

Friday's stock market session was relatively quiet, with major benchmarks recovering from larger losses in the morning to finish fairly close to unchanged on the day. Market participants are still focusing largely on Capitol Hill, where lawmakers are now working to try to reconcile competing proposals for tax reform. The new Senate version has several differences from the House tax proposal, and investors didn't seem to know whether to be pleased with the arguably less ambitious provisions of the Senate plan or more uncertain about whether any tax reform is likely to get through both chambers of Congress. Several companies had good news today that pushed their shares higher, and NVIDIA (NASDAQ: NVDA), Roku (NASDAQ: ROKU), and Rite Aid (NYSE: RAD) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of NVIDIA climbed 5% after the maker of high-performance graphics chips and other semiconductor products reported its third-quarter financial results Thursday afternoon. NVIDIA said that revenue climbed by nearly a third, sending adjusted earnings higher by more than 40% from year-ago levels. Strength in the company's data center business helped NVIDIA's revenue boost, but the company also saw solid gains in gaming. Yet many investors are focusing on initiatives like artificial intelligence, and NVIDIA hopes that its efforts in self-driving automotive technology and other cutting-edge applications will pay off in the long run.

Image source: NVIDIA.

Continue reading

Source: Fool.com