Darden Restaurants’ stock experienced a significant increase due to a new delivery partnership with Uber. The Nasdaq index rose 1.5%, gaining 277 points on Monday afternoon, following President Joe Biden’s announcement of his withdrawal from the presidential race on Sunday and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and S&P 500 also saw gains of 0.3% and 1.1%, respectively.
In the realm of political betting, the crypto-based platform Polymarket has given Harris strong odds as the Democratic nominee, while New Zealand’s PredictIt predicts her as the likely 47th president of the United States.
Nvidia saw its shares rise by 4% after reports emerged that the company is developing a version of its new Blackwell AI chips for China. Working with local partner Inspur, Nvidia is expected to launch the chip, tentatively named the “B20,” with shipments projected to begin in the second quarter of 2025.
Tesla’s stock climbed nearly 5% just a day before its earnings report, during which CEO Elon Musk is anticipated to discuss the company’s delayed robotaxi rollout. Musk mentioned on social media that Tesla will have limited production of useful humanoid robots for internal use in the coming year, hoping to ramp up production for external use by 2026.
On the other hand, CrowdStrike, the cybersecurity firm linked to a massive global tech outage, reported that the situation is slowly returning to normal. Approximately 8.5 million affected Windows devices are gradually coming back online, according to the company. Despite this, CrowdStrike’s stock fell over 13%, trading around $263 in the afternoon.
Verizon faced a nearly 6% decline in its stock after releasing its quarterly earnings report. The company missed revenue expectations due to customers holding on to older phones longer, which negatively affected upgrade rates. Verizon’s second-quarter revenue totaled $32.8 billion, slightly below the anticipated $33.06 billion, while its earnings per share were in line with expectations at $1.15.