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The Inspector-General of Police (IGP), Kayode Egbetokun, has on Sunday revealed how the leader of the gang involved in the abduction of medical students, was k+lled by the police during an operation to rescue 20 medical students at the weekend.

The students who are from University of Maiduguri and the University of Jos were travelling to Enugu for the Federation of Catholic Medical and Dental Students’ annual convention when they were kidnapped on August 15. Their abduction generated massive outcry, which made Egbetokun order the deployment of tactical operatives and assets, including helicopters, drones, and tactical vehicles, to ensure the swift rescue of the kidnapped students.

Speaking while handing over the students to their Vice-Chancellors, Egbetokun added that the arrested suspects are in custody. He also said contrary to speculations, they were rescued without paying any ransom.

Egbetokun said: “This success was made possible through the support received from the office of the NSA, the activation of the security network, intelligence, synergy with other security agencies, community engagement, and deployment of our highly skilled and tactical officers whose dedication, bravery, and precision in executing their duties are truly commendable.

During the operation, our officers engaged the kidnappers in a well-coordinated tactical offensive. I am pleased to inform you that the kingpin of this notorious gang was neutralised during an exchange of fire with our operatives while two other members of the gang were arrested. These individuals are currently in our custody where they are providing valuable information that will help us dismantle their network and prevent future occurrences of such abductions.” [Swipe]

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Nvidia (NVDA) will report second-quarter results for fiscal 2025 after the bell on Wednesday, Aug. 28, with investors likely watching for sustained data center growth and any updates on reported delays affecting the new Blackwell artificial intelligence (AI) chip.

Analysts project revenue will grow to $28.84 billion, according to estimates compiled by Visible Alpha, which would be more than double Nvidia's revenue in the same period a year ago. Net income is also expected to more than double from a year earlier to $14.95 billion, with a sharp decline in earnings per share (EPS) expected primarily as a result of the company's 10-for-1 stock split.

Nvidia's data center segment has grown rapidly amid rising demand for its advanced computing tech to support AI.

Data center revenue reached a record high of $22.6 billion in the first quarter of fiscal 2025, surpassing its previous record set the quarter prior.

Analysts expect revenue for the data center business to be $25.19 billion for the fiscal second quarter, which would set a new record high with sales more than doubling from the year-ago period.

Reported delays in Nvidia's Blackwell chip sent the chipmaker's stock tumbling earlier this month, though Nvidia has indicated production is still on track to ramp in the second half of the year, as planned.

Some analysts have suggested investors' worries may be overblown, with little impact to customers.

Raymond James analysts, who said the delay could have a "modest" impact and support increased demand for earlier chips, expect "management to downplay the speculated delays."

Nvidia shares have more than doubled in value since the start of the year, at $129.37 as of Friday's close.

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Expectations for Nvidia’s (NVDA) earnings release Wednesday are on the rise, in what could make it harder for the artificial intelligence (AI) darling to impress investors. 

Consensus estimates for Nvidia’s second-quarter revenue rose by $170 million to $28.84 billion in the last 48 hours alone, according to estimates compiled by Visible Alpha, while net income projections rose $120 million to $14.95 billion. 

Whisper numbers could be even higher, with some analysts having long voiced concerns about investors’ expectations exceeding Wall Street projections. 

Wedbush analysts said Thursday they expect “another drop the mic performance from Nvidia,” citing signs of "massive enterprise AI demand" and spending by cloud giants such as Amazon (AMZN) and Alphabet's Google (GOOGL), all trends that would benefit the chipmaker. 

They’re not alone, as analysts from Raymond James, KeyBanc, and elsewhere recently said they expect a strong quarter from the chipmaker as well, despite concerns about a reported delay in Nvidia's Blackwell AI chip. 

Over 95% of analysts tracked by Visible Alpha have a “buy” rating for the stock, with a consensus price target of $144.83, 12% above Friday’s closing price. 

Nvidia shares gained 4.6% Friday to close at $129.37. The stock has gained about 160% since beginning of the year. 

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Operatives of the National Drug Law Enforcement Agency, NDLEA, have arrested two young ladies for allegedly selling illicit dr¥gs online in Edo State.

NDLEA’s spokesperson, Femi Babafemi, in a statement on Sunday, August 25, identified the suspects as Martha Owotorofa, 26, and Odion Uzordinma, 21.

According to the statement, while Martha was nabbed at Kada Plaza, Benin city with quantities of Canadian Loud, Odion was arrested at Ugbowo area of the city with 30 cups of cookies and 17 slices of cake, all laced with illicit substances.

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Major U.S. equities indexes climbed in the week's final trading session as Federal Reserve Chair Jerome Powell reinforced expectations that lower interest rates are on the horizon.

In remarks at the Jackson Hole Economic Symposium, Powell suggested conditions are in place to cut the fed funds rate in September but stressed that the schedule and intensity of cuts will depend on evolving economic conditions.

The S&P 500 was up 1.2% on Friday. The Nasdaq jumped 1.5%, while the Dow advanced 1.1%.

Shares of construction materials supplier Builders FirstSource (BLDR) notched the top performance in the S&P 500, soaring 8.7%. While more clarity around forthcoming rate cuts and the promise of lower mortgage rates bodes well for construction activity, the company has also drawn attention for its aggressive stock buybacks and acquisitions. A Thursday report in highlighted how Builders FirstSource has managed to reduce net debt even as it repurchases shares and snaps up competitors, leaving the company in a strong position despite the uncertain trajectory of the housing market.

Cruise operators were another beneficiary of the increasing likelihood that interest rates are heading lower following Powell's speech. Cruising vacations represent highly discretionary purchases, and the operators tend to carry significant debts, making them particularly sensitive to interest rate changes. Shares of Norwegian Cruise Line Holdings (NCLH) sailed 7.7% higher on Friday, while Carnival (CCL) shares were up 7.4%.

Warner Bros. Discovery (WBD) shares gained 7.3% following a report on the entertainment giant's plans to revamp its cable network strategy. According to , the conglomerate plans to increase spending on programming for its TNT network, focusing on high-intensity dramas designed to appeal to the channel's male audience. The strategy marks a shift a way from the focus on streaming services and comes after the company lost its broadcasting deal with the NBA.

The prospect of rate cuts also led to a bright day for stocks in the solar industry. Lower interest rates reduce financing costs and make solar installations more attractive. Shares of solar micro-inverter manufacturer Enphase Energy (ENPH) jumped 6.5%. Earlier this week, analysts at Truist reaffirmed their "buy" rating on Enphase stock, pointing to potential operational expansion. Shares of solar panel maker First Solar (FSLR) were up 5.9% on the day.

Intuit (INTU) shares tumbled 6.8%, suffering the steepest loss of any S&P 500 stock, after the financial software company reported an unexpected quarterly loss and issued lackluster full-year profit guidance. The company behind TurboTax and Credit Karma announced last month that it planned to cut its workforce by around 10%, although it intends to replace departing employees with new talent to focus on artificial intelligence (AI) capabilities.

Shares of design automation software firm Synopsys (SNPS) fell 1.6% following the company's latest quarterly earnings report. Earnings per share (EPS) topped forecasts, but revenue was essentially in line with expectations. In January, Synopsys announced its plan to acquire engineering software provider Ansys (ANSS) in a $35 billion cash-and-stock deal, but U.K. regulators said earlier this week that they are considering the potential impact of the proposed transaction on competition in the country.

Shares of memory and data storage provider Micron Technology (MU) slipped 1.4% after Susquehanna trimmed its price target on the stock. The analysts' more subdued expectations follow an update from Micron, anticipating that DRAM and NAND bit shipments will remain relatively flat quarter over quarter. However, Susquehanna maintains a positive stance on the stock and predicts tight supply and demand dynamics to support an upcycle in the memory industry.

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