Boeing is seeking to raise $19 billion amid challenges including delivery delays and worker stoppages.
In market movements, the Nasdaq experienced a 1.5% increase, gaining 277 points by Monday afternoon. This uptick followed President Joe Biden’s announcement to withdraw from the presidential race and endorse Vice President Kamala Harris. Concurrently, the Dow Jones Industrial Average rose by 0.3%, while the S&P 500 climbed 1.1%.
In related political speculation, the betting platform Polymarket is predicting Harris as the Democratic presidential nominee, whereas PredictIt, based in New Zealand, anticipates her becoming the 47th president of the United States.
Nvidia shares rose by 4% following news that the company is developing a new version of its Blackwell AI chips tailored for the Chinese market. Collaborating with local partner Inspur, Nvidia plans to launch the chip, referred to as the “B20,” with shipments expected to begin in the second quarter of 2025.
Ahead of its earnings report, Tesla’s stock surged nearly 5%. CEO Elon Musk hinted that the company would produce humanoid robots in limited quantities for internal use next year and hopes to ramp up full production for external clients by 2026.
CrowdStrike continues to deal with the repercussions of a significant global tech outage, though operations are gradually returning to normal. The company reported that a large portion of the 8.5 million affected Windows devices are now back online. However, CrowdStrike’s stock fell over 13%, trading around $263.
Verizon’s stock dropped nearly 6% after its quarterly earnings report revealed revenues fell short of analysts’ expectations. Customers are reportedly keeping their old phones for longer periods, impacting upgrade rates for telecom companies. Verizon’s second-quarter revenue was $32.8 billion, slightly below the expected $33.06 billion, and its earnings per share met expectations at $1.15.