Darden Restaurants saw its stock rise sharply following a new delivery partnership with Uber. The Nasdaq index increased by 1.5%, gaining 277 points on Monday afternoon after President Joe Biden announced his withdrawal from the presidential race and endorsed Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also showed gains of 0.3% and 1.1%, respectively.
In political predictions, the crypto-based betting platform Polymarket backs Harris as the Democratic nominee, while PredictIt, based in New Zealand, anticipates she will be the 47th president of the United States.
Nvidia stocks climbed nearly 4% after reports surfaced that the company is creating a version of its new Blackwell AI chips for the Chinese market. Nvidia plans to partner with local distributor Inspur to launch the chip, tentatively named the “B20,” expected to be shipped by the second quarter of 2025. Nvidia has not commented on the reports.
Tesla’s stock experienced a near 5% increase ahead of its impending earnings report, during which CEO Elon Musk is set to discuss the rollout of the long-awaited robotaxi. Musk indicated that the company plans to have low-volume humanoid robots available for its internal use next year and aims for high-volume production for other businesses by 2026.
CrowdStrike, the cybersecurity firm responsible for the massive tech outage last Friday, is slowly recovering. The company stated on social media that many of the approximately 8.5 million Windows devices affected are now back online. Despite this, CrowdStrike shares fell over 13% on Monday afternoon, trading around $263.
Verizon’s stock dropped nearly 6% following the release of its quarterly results, which revealed the company missed revenue forecasts due to customers retaining their existing phones longer. Verizon’s second-quarter revenue amounted to $32.8 billion, slightly below the anticipated $33.06 billion, while its earnings per share were consistent with expectations at $1.15.