Stock falls 3.7% despite net profit up 34% y-o-y
Nvidia's CEO Jensen Huang faces potential ousting from the board due to reported extramarital affairs. If removed, Colette Kress could serve as interim CEO due to her experience and familiarity. Meanwhile, Ian Buck, a key engineer at Nvidia, is seen as a strong long-term candidate for the position. Speculation also includes external candidates like Arm CEO Rene Haas. Nvidia's governance and direction are under scrutiny as these developments unfold.
In a move to bolster regional energy security, ASEAN nations plan to roll out a collective oil stockpiling project by 2027. This initiative will establish crucial storage locations in Indonesia and Thailand, enabling member states to share resources. Initially, during emergencies, the Philippines will access diesel and gasoline from these shared reserves.
Forex traders said the latest inflation and employment figures in the US have boosted Treasury yields and the greenback.
Financial stocks dominated the Nifty 50 gainers
Tim Seifert acknowledged the effectiveness of India's diverse pace attack in the ODIs against New Zealand. Despite their experience, the Indian bowlers have adapted well to local conditions. India has managed to dismiss the New Zealand team for low scores in the first two matches. Seifert emphasized the importance of winning and learning for the upcoming World Cup.
Amish Shah and Pia Dandiya have recently joined the New Democrat Coalition, increasing its membership to 142. The New Democrat Coalition, which is the largest ideological group in the Democratic Party, welcomed 40 new members this week. Shah is a physician with roots in Gujarat, while Dandiya has a background in education and policy leadership.
Bahrain requested an urgent UN Security Council meeting to discuss the ongoing situation in the Gulf region. The session is scheduled for Thursday at 3:10 pm New York time, focusing on regional security developments. Recent military tensions, particularly involving Iran, have prompted these urgent discussions among international leaders. Israeli Prime Minister Benjamin Netanyahu has argued for military actions while US President Trump favors a diplomatic approach.
Five Nifty500 stocks that gained over 4.5% on November 11 featured in StockEdge’s RSI Trending Up scan, with their Relative Strength Index (RSI) crossing above 50 from below, signalling strengthening price momentum.
Chinese President Xi Jinping highlighted the importance of achieving peaceful reunification of Taiwan with the mainland China. During a speech, Xi referred to Taiwan as part of China's historical mission while promoting dialogue under the 'one-China principle'. Xi's remarks coincided with the 160th birthday of revolutionary hero Sun Yat-sen, who played a significant role in Chinese history. Taiwan's government did not immediately respond to Xi's statements on this issue.
Nvidia's CEO Jensen Huang has recently admitted to an extramarital affair, and the woman involved, Alice Huang, has been accused of being a Chinese spy. The company's share price tumbled after the affair was revealed and is reportedly under criminal investigation. The industry is known for its circular financing schemes, with investors already fretting over whether AI investments can ever return profits.
