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Santa Clara desk5 min

Nvidia Moves Above Its May Record; Boeing Adds Two Positive Developments

NVIDIA shares rose above their cited May intraday peak on October 2 as major indexes gained. Boeing had a reported labor agreement and a confirmed Navy fighter contract selection, while regulatory uncertainty around a software issue remained unresolved.
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NVIDIA shares moved above their previous May intraday high during Friday, October 2, trading, while Boeing had a separate set of positive developments: a reported labor agreement that averted a potential strike and a U.S. Navy contract selection confirmed by the company. The stories coincided with a broadly rising market, but neither company’s news explains the other’s share-price moves.

What happened to NVIDIA’s stock?

A CNBC Investing Club recap published October 2 reported that NVIDIA shares rose more than 2.5% and traded at record levels for the first time since mid-May. The recap identified the previous May intraday peak as $236.54 and said shares moved above it on Friday. That describes an intraday record, not a confirmed closing record: the recap does not provide an official closing price.

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The recap also said Morgan Stanley reinstated NVIDIA as its top semiconductor pick after meetings with CEO Jensen Huang and CFO Colette Kress. That is an analyst view, not a company forecast or assurance of future returns.

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Why the wider market was rising

The October 2 session was positive for major U.S. indexes. The Associated Press reported that the Nasdaq rose 1.2%, the S&P 500 gained 0.7% and finished within 1% of its August record, and the Dow added 250 points, or 0.5%.

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AP linked the favorable session to falling oil prices and a softer-than-expected September jobs report, which it said eased pressure on bond yields. The government update showed 29,000 more jobs added than cut in the prior month, below economists’ expectations and down from August’s net hiring rate of 133,000. This market context accompanied NVIDIA’s move; it does not establish a single cause for the stock’s rise.

What NVIDIA’s latest results show

NVIDIA’s August 26, 2026 earnings release reported fiscal second-quarter 2027 results for the quarter ended July 26. Revenue was $96.2 billion, up 106% year over year, and Data Center revenue was $89.0 billion, up 117%. The company reported GAAP diluted earnings per share of $2.46 and a GAAP gross margin of 75.0%.

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NVIDIA said it returned approximately $26.0 billion to shareholders through repurchases and dividends during the quarter. At quarter end, approximately $99.0 billion remained under its repurchase authorization. These reported figures provide business context, but the results preceded the October 2 trading session and do not prove what caused the intraday record.

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CEO Jensen Huang described management’s view of demand: “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue.” The company also said its Vera Rubin platform was in full production.

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What changed for Boeing?

A reported labor agreement

The CNBC Investing Club recap said members of the Society of Professional Engineering Employees in Aerospace agreed to Boeing’s four-year contract proposal on Thursday afternoon, averting a potential strike. According to that recap, Boeing shares rose 3.35% Thursday and were modestly lower Friday. The labor-vote details here come from the recap; they were not independently confirmed in a union or Boeing primary document.

A Navy fighter contract selection

Boeing’s September 29 newsroom release confirmed that the U.S. Navy selected the company for a multi-billion-dollar F/A-XX contract to produce a sixth-generation fighter intended to replace the Navy’s F/A-18 Super Hornets. Boeing said technical and programmatic details remain classified. The release does not state a precise contract value or provide enough public detail to estimate revenue, margin, timing, or cash contribution.

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A 737 MAX service-program milestone

On September 14, Boeing announced that it and American Airlines completed the first landing-gear exchange for a 737 MAX under Boeing’s Landing Gear Exchange Program. Boeing describes the program as providing overhauled, certified assemblies ready to install, with the aim of reducing aircraft downtime and spare-parts burdens. This service milestone is separate from the flight-software issue discussed in the recap; it does not establish that issue has been resolved.

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Boeing’s financial picture is still mixed

Boeing’s latest earnings release in the available company materials was for the second quarter of 2026, published July 28. Boeing reported $24.6 billion in revenue, a GAAP loss per share of $0.67, operating cash flow of $1.4 billion, and free cash flow of $0.6 billion, a non-GAAP measure. It also reported 171 commercial deliveries and a record total-company backlog of $715 billion.

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Backlog represents contracted work, not current-period profit or assured future cash. The quarter’s cash-flow figures likewise do not erase the reported GAAP loss per share. Boeing CEO Kelly Ortberg said the company’s operations were “more stable” and that key certification programs remained on plan, framing these as management’s assessment of its progress.

The same results release said certification flight testing had been completed on the 737-7 and 737-10, with certification anticipated in 2026 and first deliveries in 2027. Those dates were company expectations in the July release, not completed certification approvals.

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The Boeing regulatory question remains open

The CNBC Investing Club recap raised uncertainty about the FAA’s response to a flight landing-software glitch and said an adverse outcome could hurt Boeing’s cash flow if it delayed 737 MAX deliveries. The Boeing releases described above do not identify that specific glitch, establish the FAA’s response, or confirm a resulting delivery delay. The available information therefore supports treating this as an unresolved risk raised by the recap—not as evidence of a grounding, directive, or delivery halt.

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How to read the two stories

Company What the coverage reported What company results add What remains uncertain
NVIDIA The October 2 recap reported shares above the cited $236.54 May intraday peak, an analyst upgrade in stock-pick status, and a rise during a supportive market session. Fiscal Q2 2027 revenue and Data Center sales were sharply higher year over year; NVIDIA also reported substantial quarterly shareholder returns. The recap does not establish an official closing record or prove a single cause for Friday’s share move.
Boeing The recap reported agreement on a four-year labor proposal and described an unresolved software-related regulatory concern. Boeing confirmed the Navy’s F/A-XX selection and reported Q2 revenue, cash flow, deliveries, backlog, and a GAAP loss per share. The public release does not quantify the award’s economics, and the reviewed company materials do not resolve the FAA/software question raised in the recap.

NVIDIA’s story centers on a stock-price milestone alongside strong reported growth; Boeing’s combines a contract award and labor development with continuing financial and execution questions. They are distinct developments, not a like-for-like contest or a basis for a shared investment conclusion.

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