ball, football, wilson-5497606.jpg

Today in the Market (5/22/2024)

Good Morning! On Wednesday, U.S. markets declined from their previous highs as investors analyzed the minutes from the Federal Reserve’s May meeting, which indicated that some policymakers were open to raising interest rates if deemed necessary.

There were small declines across the board with the Dow Jones falling by 0.51%, the S&P 500 decreasing by 0.27%, and the NASDAQ sliding by 0.18%.

10-FOR-1!

Nvidia (NVDA) released its first-quarter results after the market closed on Wednesday, surpassing forecasts. In addition, the company announced a 10-for-1 stock split and an enhanced dividend

  • Revenue: $26 Billon vs. $24.69 Billon Expected
  • Earnings Per Share: $6.12 vs. $5.65 Expected

What else? Nvidia had a significant increase in its Data Center revenue, which grew by 427% compared to the previous year, reaching a total of $22.6 billion. This revenue accounted for 86% of the company’s overall revenue for the quarter. However, CFO Colette Kress highlighted that the firm had a large decrease in revenue from China during the quarter. This was due to the company being forced to cease shipments of its most advanced semiconductors to the nation.

What about this stock split and dividend? The firm will undergo a stock split, where owners will get 10 shares for each share they currently own. This split will take effect on June 7th. Additionally, the company will distribute its new dividend on June 28th to shareholders who hold shares as of June 11th.

OPENING A CAN OF WORMS

ball, football, wilson-5497606.jpg

Jaden Rashada, the quarterback for Georgia, filed a pioneering lawsuit on an unsuccessful name, image, likeness (NIL) agreement. This case has the potential to trigger a surge of comparable legal proceedings by student-athletes who perceive that the college athletics system has taken advantage of them.

So what happened? Rashada has filed a lawsuit against University of Florida Head Football Coach Billy Napier. The lawsuit claims that they colluded to get Rashada to come to Florida by offering him a $13.85 million NIL agreement, but had no intention of ever honoring it. Rashada first accepted a $9.5 million NIL deal from Miami, but declined it in favor of a more financially rewarding offer from Florida.

How is this allowed? Although the NCAA bans contributors from using prospective Name, Image, and Likeness (NIL) agreements to assist with recruitment, this regulation is consistently overlooked. This action has the potential to revive the discussion over the possibility of schools directly compensating athletes, in order to prevent the existence of an unregulated network of booster funds

Scroll to Top

Where Are You On Your Investment Journey?

Rise

Run

Relax

All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.

 

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?