Nvidia’s Business Booms Despite Chip Export Challenge
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NVIDIA's business is still booming. After the bell, the chipmaker reported fiscal first quarter revenue up nearly 70% year-over-year to more than $44 billion. The company's data center business grew even faster, with revenue surging 73% to $39.1 billion.

Last month, NVIDIA said the Trump administration had effectively banned the sale of its H20 chips to China. For the current quarter, it projected revenue of $45 billion, taking into account $8 billion in lost revenue due to the ban. Before reported earnings, NVIDIA stock ended the day down half a percentage point, as did the big three U.S. stock indexes. The Dow, the S&P, and the Nasdaq each fell between 0.5 and 0.6 percent, losing ground a day after yesterday's surge.

In other individual stocks, shares in Abercrombie & Fitch jumped 15% after it lifted its annual sales forecast. The clothing company expects a $50 million hit from tariffs this year.

Shares of the movie theater chain AMC Entertainment tumbled 14 percent. Yesterday, the stock had climbed after the company said the Memorial Day weekend saw one of its strongest box office runs in the past decade. And shares in Rocket Lab rose 0.6 percent after its rival SpaceX lost control of its spacecraft in a test flight yesterday.

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