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CNBC's "Fast Money"

A Major Warning From Nvidia, and Take-Two Shares Plunge 8/8/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 8 August 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Nvidia raising the red flag after reporting preliminary revenues for its fiscal second quarter well below previous guidance. The company citing weakness in its gaming division. And Take-Two shares plunged after posting a revenue miss itself – and a surprise loss. What these results mean for the broader tech trade and the market as a whole. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Yes, it does Mike right now on Fast Money is a game over in video warning due to weakness

0:05.8

in gaming.

0:06.8

Headwinds from the slowing economy, while the rest of the chip makers and game makers

0:10.8

get dented by this semi-struggle plus, is a year in buyback blitz coming with a 1% tax

0:17.4

on tap for companies buying back their own stock next year, a big business front load

0:22.1

they're spending now and later on, a bank battle royale with cheese.

0:27.8

A summer crypto revival and cheap, chic, retail revival.

0:32.3

Can't believe I pulled that off.

0:33.3

I'm Brian Sullivan and from Alyssa Lee tonight, welcome everybody.

0:36.5

This is Fast Money is always live from the Nasdaq market side on your desk tonight.

0:40.5

We've got Courtney Garcia, fellow Sandy Egan, Courtney Walker, Steve Grasso, Guyadami,

0:46.6

and Jeff Mills.

0:47.6

It's going to be a big show.

0:48.6

All right, Padre's versus Yankees.

0:50.1

We start with the latest warning for Big Tech, Invidia dropping more than 6%.

0:55.9

Getting more than 30 billion from its market cap after slashing sales, expectations, and

1:01.4

everything else for the current quarter.

1:03.4

The chip giant saying that sales at its gaming division, down by more than 40%.

1:08.8

The ripple effects were felt through the future, entire semi-sector, universal display,

1:14.0

Marvel, AMD, and others all falling in sympathy, some down to percent, some down more.

1:19.9

While the broader market tried to shake it off, all the Nasdaq and S&P both ended three

1:24.4

day win streaks.

...

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