Darden Restaurants’ stock experienced a significant rise thanks to a new delivery partnership with Uber. On Monday afternoon, the Nasdaq composite climbed 1.5%, adding 277 points in the wake of President Joe Biden’s recent withdrawal from the presidential race and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and the S&P 500 also saw growth, increasing by 0.3% and 1.1%, respectively.
Market predictions regarding Harris show increasing support, with crypto-based betting platform Polymarket backing her as the Democratic nominee, while New Zealand’s PredictIt anticipates she will become the 47th president.
Nvidia’s stocks rose by 4% after reports indicated that the company is designing a new version of its Blackwell AI chips specifically for the Chinese market, in collaboration with local partner Inspur. This new chip, likely named “B20,” is projected to begin shipping in the second quarter of 2025.
Ahead of its earnings report, Tesla’s stock jumped nearly 5%. CEO Elon Musk is anticipated to discuss the much-anticipated robotaxi during the upcoming announcement. Musk shared on social media that Tesla will introduce limited production of humanoid robots for internal use next year, with hopes of larger production for external clients in 2026.
CrowdStrike, a cybersecurity firm involved in the recent global tech outage, is slowly recovering. The company reported that many of the approximately 8.5 million affected Windows devices are back online. However, CrowdStrike’s stock fell over 13% on Monday afternoon, trading near $263.
Verizon’s stock tumbled nearly 6% following its quarterly earnings report, which revealed revenue figures that fell short of analyst expectations. The company attributed this to customers prolonging the use of their existing devices, affecting upgrade rates associated with promotional plans. Verizon’s second-quarter revenue totaled $32.8 billion, slightly under the anticipated $33.06 billion, with an earnings per share of $1.15, meeting expectations.