Nvidia, Berkeley, Games Workshop, Just Eat

NVIDIA (NVDA)

Nvidia’s steep run continued yesterday evening, rising 3.5 percent, overtaking Microsoft (MSFT) to become the world’s most valuable stock. It was up 0.6 percent in premarket trading on Wednesday.

Shares rose to over $135 (£106) per share, giving the chipmaker a market capitalisation of over $3.33 trillion. After a 0.4% decline on Tuesday, Microsoft’s market capitalisation stood at almost $3.32 trillion.

This happened just two weeks after Nvidia took second place from Apple (AAPL).

Nvidia shares have risen more than 215% over the past 12 months and more than 3,400% over the past five years, fueled by an explosion of interest in generative AI that began with the launch of OpenAI’s ChatGPT software in late 2022.

Nvidia has gained 175% since the beginning of the year; Microsoft shares will rise by almost 19% in 2024.

On June 13, 2023, Nvidia crossed the $1 trillion mark in market capitalization for the first time. The company’s rise from $1 trillion to $3 trillion was the fastest ever.

Nvidia completed a 10-for-1 split on June 10.

Read more: Is Nvidia stock still valuable? That’s what the charts say!

Berkeley (BKG.L)

Housebuilder Berkeley posted a loss this morning despite raising its profit forecast for the current financial year by 5% to £525 million.

The company was the biggest loser in the FTSE 100 index, reporting pre-tax profits of £557 million for the year to April 30, down from £604 million a year earlier.

The company said it would re-enter the private rental market for the first time in a decade by launching a build-to-rent division to address the “severe shortage” of properties in and around London.

Berkeley built 3,500 homes for private sale last year and will now launch a build-to-rent business that aims to build 4,000 homes in London and the south-east over the next decade.

The company plans to develop the properties on 17 brownfield sites and introduce a special online platform for their management.

Berkeley said: “The operating environment has become increasingly uncertain in recent years as a large number of well-intentioned regulatory and policy changes have come into force.

“This contributed to a significant decline in private and affordable housing activity, with SME developers and housing associations particularly affected.

“This significant decline in housing provision has been recognised by policy makers at all levels and has led to a renewed focus on removing barriers within the regulatory and planning system.”

Read more: Inflation in the UK falls to the Bank of England’s 2% target

Games Workshop (GAW.L)

Warhammer maker Games Workshop rose 8 percent in London after announcing it expects its annual pre-tax profit to rise to at least £200 million, up from £171 million a year earlier.

The story continues

The maker of miniature figures for tabletop fighting games reported annual profit growth of at least 17%, following an acceleration in the second half of the fiscal year.

Core revenues were over £490m for the 53 weeks to June 2, up 10%, while pre-tax profits are estimated at “at least £200m”, compared with £171m a year earlier.

In the first half of the year, profit before tax rose 14% to £95.2 million.

The profit estimate includes compensation for the employee profit-sharing scheme of £18 million, which is paid equally to each employee in cash. In addition, dividends of £138 million were paid and declared during the financial year, with 415 pence paid per share.

Just eat (JET.L)

Just Eat shares rose more than 2% on Wednesday after it announced it had partnered with Amazon (AMZN) in Germany, Austria and Spain.

Europe’s largest food delivery company said the move would allow it to offer free delivery for food orders over 15 euros ($16.13).

The deal, which marks the company’s first collaboration with Amazon in Europe, has no financial strings attached and means the partnership is “mutually beneficial” for both companies.

The first deal between the two companies was completed in mid-2022.

Last month, Amazon said its US customers would be able to order from Just Eat-owned Grubhub directly through its shopping app and website, expanding an offering that already gives Prime members free access to Grubhub+ membership.

Jamil Ghani, Vice President of Amazon Prime, said: “By saving Prime members the delivery fees from restaurants on Just Eat Takeaway.com, we are helping our members save money every day in another way.”

“The value of a Prime membership continues to increase with this offer, and now is the best time to enjoy the convenience, savings, entertainment – and deliciousness – that membership offers.”

Watch: What are SPACs?

Download the Yahoo Finance app, available for Apple And Android.