McDonald’s is facing its first lawsuit related to the E. coli outbreak associated with its Quarter Pounder after several reports of illnesses. This legal action comes as multiple customers claim they contracted the bacteria after consuming the fast-food chain’s products.
In financial news, the Nasdaq index rose by 1.5%, gaining 277 points on Monday afternoon, following President Joe Biden’s announcement on Sunday that he would withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average and the S&P 500 also saw gains, increasing by 0.3% and 1.1%, respectively.
The crypto-based betting platform Polymarket has identified Harris as the likely Democratic nominee for president, while PredictIt from New Zealand forecasts that she will be the 47th president of the United States.
Nvidia’s shares climbed by 4% in the afternoon after news emerged that the company is working on a version of its new Blackwell AI chips tailored for the Chinese market. Reports suggest Nvidia will collaborate with the local distributor Inspur to launch and sell the chip, tentatively labeled the “B20,” slated to begin shipping in the second quarter of 2025. Nvidia did not provide any comments on the matter.
Tesla’s stock jumped nearly 5% a day before its expected earnings report, during which CEO Elon Musk is anticipated to address the delay in the company’s robotaxi release. Musk shared on social media that “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.”
Meanwhile, cybersecurity company CrowdStrike, which was involved in a significant global tech outage last Friday, is still dealing with the repercussions. The company reported that a large number of the approximately 8.5 million impacted Windows devices are being restored. However, CrowdStrike’s stock fell over 13% on Monday afternoon, trading at around $263.
Finally, Verizon experienced a nearly 6% drop in stock value following the release of its quarterly earnings report. The telecommunications company reported second-quarter revenue of $32.8 billion, slightly under the analysts’ average estimate of $33.06 billion. Its earnings per share (EPS) came in at $1.15, aligning with expectations, but the company noted that many customers are retaining their older devices longer, adversely affecting upgrade rates.