Nvidia (NVDA)

Shares in chip company Nvidia fell in after-hours trading, following second quarter earnings which showed the smallest revenue beat in six quarters.

Nvidia was down nearly 7% in pre-market trading, despite the chipmaker reporting second quarter figures that beat expectations on the top and bottom line after the US bell on Wednesday.

The company, a world leader in chip design and software, reported revenues of $30bn (£22.7bn) in its fiscal second quarter, compared to analysts' forecasts of $28.8bn.

Ben Barringer, technology and media analyst at Quilter Cheviot, said: “Nvidia has grown to a point where there is little room for error and any sign of slowing or normalisation of growth will have an outsized effect on the share price.”

Read more: FTSE 100 LIVE: European stocks higher as Nvidia shares fall despite record sales

“This being the smallest beat in six quarters, and the fact guidance for gross margins and costs are weaker was enough to get people to hit the sell button in after hours trading.”

Tech stocks led US markets lower on Wednesday as investors awaited the highly-anticipated results, with the tech-heavy Nasdaq Composite (^IXIC) closing 1.1% down.

Salesforce (CRM)

Software company Salesforce posted second quarter results after the US market close on Wednesday that beat Wall Street estimates on sales, operating margins and earnings.

Salesforce posted net sales of $9.33bn for the second quarter, above an estimate of $9.23bn.

Shares popped in after-hours trading, up 5%.

Sales increased 11% in Europe, 16% in Asia-Pacific, and 8% in its Americas segment in the second quarter. This marked a turnaround from the previous quarter when the company posted its first sales estimate miss since 2006.

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"What I think a lot of people are excited about right now is the beat on adjusted operating margin,” Third Bridge analyst Charlie Miner said on Yahoo Finance.

The company also reported an adjusted operating margin of 33.7%, coming in above estimates of 31.94%.

“Profitability has become fully the focus for Salesforce over the last six quarters, you can't miss there right now, especially when [sales] growth is decelerating into the single digits as it is only the second time in their company history," Miner said.

Berkshire Hathaway (BRK-B)

Shares in Warren Buffet’s company were trending in pre-market trading as it hit $1tn (£756bn) in market value — the first US company outside of the tech sector to reach the milestone.

The $1tn threshold was crossed just two days before the “Oracle of Omaha” Buffet turns 94 years old.

Berkshire Hathaway comprises a $285bn stock portfolio that Buffett has built up over six decades, making him one of the richest people in the world.

In recent months, Berkshire Hathaway has been in selling mode. It cut its stake in Apple (AAPL) by 50% last quarter. On Tuesday, the company disclosed it had sold nearly 25 million Bank of America (BAC) shares worth close to $1bn.

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Berkshire’s insurance, energy, manufacturing, retail and service businesses generated $22.8bn of profit in the first half of the year, up 26% from a year earlier.

Topping the list of the most valuable companies are Apple, Nvidia and Microsoft (MSFT), which all are worth more than $3tn. Other companies trading above $1tn include Alphabet (GOOG), Amazon (AMZN) and Meta (META).

Super Micro Computer (SMCI)

Shares in the AI server maker were almost 7% lower in pre-market trading after plunging over 19% during Wednesday’s session after it said it would delay the filing of its annual report.

″SMCI is unable to file its annual report within the prescribed time period without unreasonable effort or expense,” the company said. “Additional time is needed for SMCI’s management to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of 30 June 2024.”

That announcement came a day after short-seller Hindenburg Research published a report that alleged it found “glaring accounting red flags” and other issues at the company.

Analysts at JPMorgan said some of Hindenburg’s claims are “tough to verify” and that the report is “largely void of details around alleged wrong doings from the company”.

Hindenburg Research said its three-month investigation found "evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues". The firm disclosed on Tuesday that it had taken a short position in Super Micro.

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