LONDON (Reuters) -Global stocks held near record highs on Wednesday ahead of the release of results from chipmaking market darling Nvidia, while sterling hovered near a 2-1/2-year high as traders bet that Britain would lag the U.S. in cutting interest rates. Europe's benchmark STOXX index climbed 0.25% to a one-month high, boosted by technology stocks ahead of rosy expectations for the Nvidia earnings update later in the day. Nvidia's market value has ballooned thanks to its dominance of the computing hardware behind artificial intelligence.
Fashion conglomerate PVH (NYSE:PVH) reported results in line with analysts’ expectations in Q2 CY2024, with revenue down 6% year on year to $2.07 billion. It made a non-GAAP profit of $3.01 per share, improving from its profit of $1.98 per share in the same quarter last year.
Cloud content storage and management platform Box (NYSE:BOX) reported results in line with analysts’ expectations in Q2 CY2024, with revenue up 3.3% year on year to $270 million. The company expects next quarter’s revenue to be around $275 million, coming in 1.6% above analysts’ estimates. It made a non-GAAP profit of $0.44 per share, improving from its profit of $0.36 per share in the same quarter last year.
