Happy Wednesday, Zingernation! Some people will bet a stock goes up after earnings through call options. Others may bet the stock will drop via put options. But only the bravest (and/or craziest) among us make a tattoo bet over NVIDIA’s earnings.

–Aaron Bry & Nic Chahine

Today’s Price Action:

$SPY: -.29%
$QQQ: -.02%
$DIA: -.53%

Plus, check out the company that’s aiming to reshape how we treat and look after those with Alzheimer’s.

Also, want access to unparalleled news and data at your fingertips? Win more trades with Benzinga Pro, for 50% off during our Memorial Day sale.

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

NVIDIA’s Q1 Earnings

Briefly: NVIDIA, the poster boy of the AI revolution, reported first-quarter results today after the close. Here’s how it went.

So Basically: The chipmaker’s Q1 results climbed past lofty expectations amid ever-increasing demand for its AI accelerators. Revenues climbed to a record, thanks to record Data Center revenue.

So Then: Q2 guidance also exceeded expectations. The company announced a 10-for-1 stock split and hiked its quarterly dividend by 150%.

So What? Reacting to the results, Nvidia’s stock rose in after-hours trading. CEO Jensen Huang proudly punctuated the results, saying, “The next industrial revolution has begun.”

Click here to read more.

PRESENTED BY IGC PHARMA

IGC Pharma’s IGC-AD1 Potentially Offers Agitation Relief And A Safer Approach To Alzheimer’s Treatment, Aiming To Launch FDA-Approved Drug With No Black Box Warnings

Over 6.7 million Americans aged 65 and older are living with Alzheimer’s disease (AD) and this number is predicted to grow to 13.8 million by 2060. Currently, there is no perfect treatment for AD or ADD. Otsuka’s (OTCMKTS: OTSKY) Rexulti is one of the major medications currently being explored as a potential treatment for Alzheimer's disease. One of the major criticisms of Rexulti is that it carries a black box warning regarding the increased risk of death in elderly patients with dementia-related psychosis.

IGC Pharma (AMEX: IGC) is looking to be an alternative to existing drugs with its drug, IGC-AD1, which has been specifically designed to target the underlying causes of AAD and aims to fill the gap for a safe and effective therapy. 

Click here to read more!

FIVE MOVERS

e.l.f Beauty shares moved lower after the close following the makeup company’s worse-than-expected earnings report.

Snowflake shares shot higher in the after-hours session after the company reported a 33% increase in revenue and spoke about AI demand.

Rivian shares closed higher by more than 5% today, breaking through a key technical level of $10 a share.

Toll Brothers shares closed down nearly 10% after the homebuilder reported some weak guidance.

Solar names like First Solar and Enphase Energy ripped higher today after some analyst love and excitement around Biden’s tariffs.

ONE TRADE IDEA FOR TOMORROW

Fed Minutes Raise Risk Of 'Higher-For-Longer' Interest Rates

Briefly: The minutes from the Federal Reserve’s May meeting delivered a harsh reality check to investors.

So Basically: The report gave several signals that reignited investor fears about the increasing likelihood of a prolonged period of high interest rates.

Specifically: Participants at the meeting assessed that it would take longer than previously anticipated to gain greater confidence in inflation moving sustainably to 2%. Worse yet, “various participants” expressed a “willingness” to tighten policy even further should risks to the outlook materialize.

So What? This starkly contrasts Fed Chair Jerome Powell’s more dovish comments earlier this month, when he said rate hikes were off the table. Investors will be left to ponder the contradictory signals in the month leading up to the central bank’s next rate decision in June.

Click here for the full story.