Zepbound, the weight loss drug from Eli Lilly, found to help cut heart failure risks
Eli Lilly’s weight loss drug, Zepbound, has been found to significantly reduce the risk of heart failure. This new finding adds to the growing list of benefits associated with the medication.
Nasdaq rose by 1.5%, gaining 277 points on Monday afternoon after President Joe Biden withdrew from the presidential race on Sunday and endorsed Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw increases of 0.3% and 1.1%, respectively.
The crypto-based betting platform Polymarket has endorsed Harris as the Democratic nominee for president, while New Zealand-based PredictIt forecasts that she will become the 47th president of the United States.
Nvidia bets on China
Nvidia shares climbed by 4% in the afternoon following a Reuters report stating the company is developing a version of its new Blackwell AI chips for the Chinese market. The chipmaker plans to partner with local distributor Inspur to launch and sell the chip, tentatively named the “B20,” in China, with shipments expected to begin in the second quarter of 2025. Nvidia declined to comment on the report.
Tesla surges ahead of earnings report
Tesla’s stock surged by nearly 5% a day before its earnings report, where CEO Elon Musk is expected to provide an update on the company’s delayed robotaxi project.
“Tesla will have genuinely useful humanoid robots in low production for Tesla internal use next year and, hopefully, high production for other companies in 2026,” Musk stated on X on Monday.
CrowdStrike still recovering
CrowdStrike, the cybersecurity company responsible for a major global tech outage on Friday, is still dealing with the fallout, although things are slowly returning to normal.
“Of the approximately 8.5 million Windows devices that were impacted, a significant number are back online and operational,” the company announced on X late Sunday. CrowdStrike’s stock was down over 13% in the afternoon on Monday, trading around $263.
Verizon drops 6% after earnings report
Verizon experienced a sharp decline of nearly 6% in the afternoon following the release of its quarterly report. The telecommunications company missed quarterly revenue estimates, largely due to customers holding onto their old phones for longer periods, impacting upgrade rates and promotional plans.
Verizon’s second-quarter revenue was $32.8 billion, slightly below analysts’ average estimate of $33.06 billion, while its earnings per share (EPS) was $1.15, meeting expectations.