Uber’s delivery partnership has propelled Darden Restaurants’ stock upward. On Monday afternoon, the Nasdaq climbed by 1.5%, gaining 277 points, following President Joe Biden’s withdrawal from the presidential race and endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw increases of 0.3% and 1.1%, respectively.
Polymarket, a crypto-based betting platform, favors Harris as the Democratic nominee, while PredictIt predicts her to be the 47th president of the United States.
Nvidia shares rose by 4% following reports that the company is creating a version of its Blackwell AI chips specifically for the Chinese market. Nvidia is expected to collaborate with local partner Inspur to introduce the “B20” chip in China, with shipments anticipated to start in the second quarter of 2025.
Tesla’s stock jumped nearly 5% in anticipation of its earnings report. CEO Elon Musk is expected to discuss the ongoing delays regarding the company’s robotaxi unveiling and stated on X that Tesla will begin limited production of humanoid robots for internal use next year, aiming for broader production by 2026.
CrowdStrike, the cybersecurity firm involved in last week’s major tech outage, is slowly recovering. The company reported that many of the 8.5 million affected Windows devices are back online, but its stock fell over 13% on Monday, trading around $263.
Verizon’s shares dropped nearly 6% following its quarterly earnings report, which revealed it missed revenue estimates. The company reported a second-quarter revenue of $32.8 billion, just below the expected $33.06 billion, while its earnings per share matched expectations at $1.15. This decline was attributed to customers retaining their old phones longer, impacting upgrade rates associated with promotional plans.