Novo Nordisk’s pill form of Ozempic has been shown in a recent study to reduce the risk of heart attacks and strokes.
In related financial news, the Nasdaq experienced a 1.5% increase, adding 277 points on Monday afternoon. This surge followed President Joe Biden’s announcement that he would withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw gains, rising by 0.3% and 1.1% respectively.
A crypto-based betting platform, Polymarket, is backing Harris as the Democratic nominee, while PredictIt from New Zealand forecasts that she will be the 47th president of the United States.
Nvidia shares climbed by 4% in the afternoon after reports revealed the company is developing a new version of its Blackwell AI chips specifically for the Chinese market. Nvidia is set to collaborate with local partner Inspur to launch the chip, tentatively named the “B20,” expected to begin shipping in the second quarter of 2025. Nvidia has not commented on the reports.
Meanwhile, Tesla’s stock rose nearly 5% ahead of its earnings report, where CEO Elon Musk is anticipated to discuss the long-awaited unveiling of the company’s robotaxi. Musk stated on X that Tesla aims to have functional humanoid robots in limited production for internal use by next year, with hopes for higher production by 2026.
In contrast, CrowdStrike, the cybersecurity firm involved in last Friday’s global tech outage, was still addressing the aftermath days later. The company reported that many of the approximately 8.5 million affected Windows devices are now operational, although CrowdStrike stock fell over 13% on Monday afternoon to around $263.
Verizon saw a significant decrease of nearly 6% after it released its quarterly earnings report, which showed that the company missed revenue expectations. The telecommunications giant reported second-quarter revenue of $32.8 billion, below the anticipated $33.06 billion, and earnings per share (EPS) of $1.15, meeting expectations.