SEC’s Plan for Chinese Stocks
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 19 November 2020
⏱️ 20 minutes
🧾️ Download transcript
Summary
Nvidia posts big numbers in the 3rd quarter, but shares of the chipmaker fall a bit on guidance. Macy’s 3rd-quarter digital sales can’t save the troubled retailer. The SEC is reportedly working on a plan to require Chinese companies to use auditors overseen by the U.S. or risk being shut out of American stock exchanges. Bill Mann analyzes those stories and weighs in on the early rush of radio stations flipping to “Holiday Music” formats.
Transcript
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| 0:00.0 | It's Thursday, November 19th. |
| 0:04.0 | Welcome to Market Foolery. |
| 0:05.2 | I'm Chris Hill. |
| 0:06.4 | Joining me from a great distance, Mr Bill Mann. |
| 0:09.8 | Good to see you, my friend. |
| 0:11.3 | How are you, Chris? I'm doing well? I'm doing well. We were talking right |
| 0:14.9 | before we started. Your audio quality might be a little below what we |
| 0:20.0 | typically do because you got a new computer so hopefully the dozens of |
| 0:24.1 | listeners will will bear with us as we get to we're gonna get to some earnings |
| 0:31.1 | we've got a fascinating development going on that the Wall Street Journal just reported. |
| 0:37.3 | We'll get to that. Let's start with Invidia. |
| 0:41.2 | It was another big quarter for NVIDIA, third quarter profits in revenue, both |
| 0:45.8 | higher than expected for the chipmaker. Shares down a little bit today though. I'm assuming |
| 0:52.4 | it is around the guidance they gave on their data |
| 0:55.2 | center division which you know to be fair they came out and said yeah this number is |
| 0:59.9 | going down I I always caution people not to spend too much time worrying about what happens |
| 1:07.4 | right around earnings with companies. And I think in 2020 we've gotten the exact wrong |
| 1:12.1 | lesson. Whenever companies beat by just a little bit their stock goes up 20% whenever they lose by a little bit their stock goes down 20%. |
| 1:20.0 | That's actually weird. actually weird. |
| 1:23.1 | It doesn't usually work that way. |
| 1:25.5 | You're exactly right that generally speaking, stocks are driven by guidance. |
| 1:29.7 | So now that they've reported those earnings, those are in the bank. But invidious stock has gone up by |
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