(Updated – Jul 22, 2024 11:55 AM EDT)
Investing.com – U.S. stock futures climbed higher on Monday, recovering from sharp losses the week before and as President Joe Biden ended his bid for re-election.
Here are some of today’s biggest US stock movers:
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Nvidia (NASDAQ:) Shares rose 2% after Reuters reported that the chipmaker is developing a version of its flagship artificial intelligence chips for Chinese markets that will comply with U.S. export restrictions.
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Verizon (NYSE:) Shares fell 6% after the telecommunications giant reported disappointing quarterly revenue, even as it added more wireless subscribers than expected in the second quarter at discounted prices.
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Tesla (NASDAQ:) Shares rose 3% after CEO Elon Musk said the EV maker will have low-production humanoid robots for internal company use next year, months after announcing the rollout would happen in late 2024.
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bank of America (BAC) shares then lost 1% Berkshire Hathaway (NYSE:) sold approximately 33.9 million shares of the lender in multiple transactions last week for approximately $1.48 billion.
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CrowdStrike (NASDAQ:) Shares fell 13%, continuing Friday’s sharp sell-off, despite the cybersecurity company claiming that a significant number of the 8.5 million Microsoft (NASDAQ:), up 0.5%, devices affected by a global technical outage related to a software update were back online and operational.
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Delta Airlines (NYSE:) Shares fell 2% after the airline canceled more than 600 main flights on Sunday, about 17% of its schedule and more than any other U.S. airline, as disruptions from Microsoft’s outage continued.
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Good year (GT) fell 1% after the tire giant announced plans to sell its off-road equipment tire business to Japan’s Yokohama Rubber for $905 million in cash as part of an effort to streamline its operations.
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Ryanair (RYAAY) ADRs fell 17% after the budget carrier reported a 46% drop in quarterly profit at lower summer rates.
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Mattel (NASDAQ:) rose 15% after Reuters reported that L Catterton, the PE firm backed by LVMH, approached the US toy maker with a takeover bid. This could prompt others, including rivals, to do so Hasbro (NASDAQ:) to consider offers.
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Now Holdings (NU) fell 6.5% after JPMorgan downgraded the stock from ‘overweight’ to ‘neutral’. Analysts warned of limited upside potential and a slowdown in growth.
Additional reporting by Louis Juricic
