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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%.


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.


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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

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