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Trending tickers: Nvidia, Nike, Coinbase, Eni

The latest investor updates on stocks that are trending on Friday

SANTA CLARA, CALIFORNIA - FEBRUARY 05: A sign is posted at Nvidia headquarters on February 05, 2024 in Santa Clara, California. Shares of Nvidia stock hit record highs on Monday after analysts increased their outlook on company. (Photo by Justin Sullivan/Getty Images)
Nvidia disclosed investments made in several emerging AI companies. (Justin Sullivan via Getty Images)

Nvidia (NVDA)

Nvidia stock reversed falls seen on Thursday trade in premarket on Friday after it disclosed investments made in several emerging AI companies. This sparked rallies across those involved in the deal, including: Soundhound (SOUN), Arm (ARM), and Nanox (NNOX).

Read more: FTSE 100 LIVE: European markets higher as UK retail sales recover

Nvidia shares are up nearly 50% since the start of 2024 and more than 220% in the past year. The company's market cap recently surpassed that of Amazon (AMZN) and Alphabet (GOOG, GOOGL). Only Microsoft (MSFT) and Apple (AAPL) now have a higher valuation than Nvidia.

Nike (NIKE)

MIAMI BEACH, FLORIDA - JULY 09: Models wearing designs by Nike Swim walk on the runway during 2023 Miami Swim Week Powered By Art Hearts Fashion - Nike Swim & Argyle Grant at Fontainebleau Miami Beach on July 09, 2023 in Miami Beach, Florida. (Photo by Udo Salters Photography/Getty Images)
Models wearing designs by Nike Swim walk on the runway during 2023 Miami Swim Week. (Udo Salters Photography via Getty Images)

Nike stock was around 0.7% lower in premarket trade on Friday following an announcement that it is set to cut its workforce by around 2%, or 1,600 jobs. The cuts are designed to offset costs after weaker profits this year.

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The sportswear brand is just one of many consumer goods companies that have warned of softer earnings in 2024 amid cost of living pressures and inflation.

Read more: Stocks that are trending today

At the end of last year, Nike said it would look to make around $2bn (£1.59bn) in savings over three years.

Coinbase (COIN)

Crypto exchange Coinbase saw its stock surge around 12% in premarket as it posted its first quarterly profit in two years. This built on 3.3% gains from Thursday.

Read more: Bitcoin ETFs poised for US pension plan inflows, Standard Chartered analyst says

This came off the back of a surge in trading on a new wave of optimism about digital assets, marking a potential turning point for the largest US cryptocurrency exchange.

Eni (ENI.MI)

Energy provider Eni saw its stock slip 1.9% by mid-morning on Friday after it said its earnings had fallen in the fourth quarter on the back of decreasing oil and gas prices and slowing demand in its chemicals business.

Its operating profit was down, according to a company report, with net profit falling to €149m (£127.5m/$160m) from €627m in in Q4.

Watch: Beyond the Ticker: Nvidia

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