Midday movers: Nvidia, Tesla rise; Verizon, CrowdStrike fall
Investing.com -- U.S. stock futures climbed higher Monday, rebounding after the previous week’s sharp losses and as President Joe Biden ended his bid to be re-elected.
Here are some of the biggest U.S. stock movers today:
Nvidia (NASDAQ: NVDA) stock rose 2% after Reuters reported that the chipmaker is developing a version of its flagship artificial intelligence chips for Chinese markets that will fall in line with U.S. export restrictions.
Verizon (NYSE: VZ) stock fell 6% after the telecommunications giant reported disappointing quarterly revenues even as it added more wireless subscribers than expected in the second quarter, at discounted prices.
Tesla (NASDAQ: TSLA) stock rose 3% after CEO Elon Musk said the EV manufacturer will have humanoid robots in low production for the company's internal use next year, months after he announced that the rollout would be by the end of 2024.
Bank of America (NYSE: BAC) stock lost 1% after Berkshire Hathaway (NYSE: BRKa) sold about 33.9 million shares of the lender for around $1.48 billion over multiple transactions last week.
CrowdStrike (NASDAQ: CRWD) stock fell 13%, continuing Friday’s hefty selloff despite the cybersecurity firm stating that a significant number of the 8.5 million Microsoft (NASDAQ: MSFT), up 0.5%, devices that were impacted as a result of a global tech outage related to a software update were back online and operational.
Delta Air Lines (NYSE: DAL) stock fell 2% after the carrier canceled more than 600 Sunday mainline flights, about 17% of its schedule and more than any other U.S. airline as disruptions caused by the Microsoft outage persisted.
Goodyear (NASDAQ: GT) stock fell 1% after the tire giant announced plans to sell its Off-the-Road equipment tire business to Japan's Yokohama Rubber for $905 million in cash, as part of a drive to streamline its business.
Ryanair (NASDAQ: RYAAY) ADRs slumped 17% after the budget carrier reported a 46% fall in quarterly profit amid lower summer fares.
Mattel (NASDAQ: MAT) rose 15% after Reuters reported that L Catterton, the PE firm backed by LVMH, approached the U.S. toy maker with an acquisition offer. This could prompt others including rival Hasbro (NASDAQ: HAS) to consider bids.
Nu Holdings (NYSE: NU) declined 6.5% after JPMorgan cut the stock's rating to 'neutral' from 'overweight'. Analysts warned of limited upside and growth deceleration.
Additional reporting by Louis Juricic