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Stocks making the biggest moves in hours: Nvidia, Applied Materials



Jen-Hsun Huang, CEO, Nvidia

David Paul Morris | Bloomberg | Getty Images

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Shares of Nvidia jumped as much as 7% after the chipmaker announced better earnings than the second quarter. The company reported adjusted earnings per share of $ 1.24 from revenue of $ 2.58 billion. Analysts had expected $ 1.15 earnings per share from revenue of $ 2.54 billion, according to Refinitiv. Nvidia's largest segment, gaming, generated $ 1

.31 billion in revenue, which was just over the $ 1.30 billion consensus estimate among analysts surveyed by FactSet.

Applied Materials rose 1.8% in afternoon trading after the semiconductor company announced its third-quarter earnings. The company reported adjusted earnings per share of SEK 74 on revenue of $ 3.56 billion. Analysts were expecting earnings per share of $ 0.70 on revenue of $ 3.52 billion, according to Refinitiv. Gary Dickerson, president and CEO, said the company will "fully fund our R&D programs to develop new products and opportunities."

Shares of General Electric climbed 3% after a filing in the SEC revealed CEO Larry Culp bought nearly $ 2 million worth of conglomerate's shares. The revelation comes after Madoff's announcer Harry Markopolos published a 175-page report calling GE "a bigger fraud than Enron."


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