AT&T is divesting its stake in DirecTV.
On Monday afternoon, the Nasdaq rose 1.5%, adding 277 points after President Joe Biden announced he would not seek reelection and endorsed Vice President Kamala Harris. The Dow Jones Industrial Average increased by 0.3%, while the S&P 500 gained 1.1%.
The cryptocurrency-based betting platform Polymarket favors Harris as the Democratic presidential nominee, and New Zealand’s PredictIt forecasts she will become the 47th president of the United States.
Nvidia’s shares jumped 4% in the afternoon following a Reuters report indicating the company is creating a version of its new Blackwell AI chips specifically for the Chinese market. Nvidia plans to collaborate with local partner Inspur to launch and market the chip, provisionally named the “B20,” expected to start shipping in the second quarter of 2025. Nvidia has not commented on the report.
Tesla’s stock climbed nearly 5% ahead of its earnings report, where Elon Musk is anticipated to address the company’s delayed robotaxi launch. Musk announced on X that Tesla will produce “genuinely useful humanoid robots” next year for internal use, with plans for high production for external clients by 2026.
CrowdStrike, the cybersecurity firm linked to a significant global tech outage last Friday, is still dealing with the consequences, although recovery efforts are underway. The company reported that a notable portion of the 8.5 million affected Windows devices is now operational. However, CrowdStrike’s stock dropped over 13% on Monday afternoon, trading around $263.
Verizon’s stock fell almost 6% following its earnings report, which revealed that the company missed quarterly revenue expectations due to customers retaining their old phones longer, thereby negatively impacting new phone upgrades and promotional plans. Verizon reported second-quarter revenue of $32.8 billion, slightly below analyst expectations of $33.06 billion, with earnings per share (EPS) matching forecasts at $1.15.