Luis Alvarez
Following their worst weekly losses since April, stock futures rose on Monday after President Joe Biden announced his withdrawal from the presidential race.
Below are some of the biggest stock moves on Monday:
The stocks with the highest gains
- Serving Robotics (NASDAQ:SERV) Share rose as much as 44% after a 187% surge on Friday, boosted by news that semiconductor giant Nvidia (NASDAQ:NVDA) acquired a stake in the company. The filing revealed that Nvidia purchased 1.05 million shares on April 22 at $2.42 per share, for a total of just over $3.7 million. This purchase was the result of a 6% convertible note that Nvidia held, according to the filing after Serve Robotics went public.
- IQVIA Shares (New York Stock Exchange: IQV) shares rose up to 6%making it the top gainer in the S&P 500, following the release of its better-than-expected second-quarter results, driven by year-over-year growth across all segments on a constant currency basis. For fiscal 2024, IQVIA has revised its guidance, projecting revenue between $15.425 billion and $15.525 billion, with the midpoint of $15.47 billion slightly beating the analyst consensus of $15.46 billion. The company also forecasts adjusted earnings per share to range from $11.10 to $11.30, with the midpoint of $11.20 beating both the consensus estimate of $11.08 and the prior outlook of $10.95 to $11.25.
- Nvidia (NVDA) shares rose almost 4% After a report indicated that the company plans to develop a new ai chip for the Chinese market that aligns with US export controls in March, Nvidia unveiled its Blackwell chip series, which is set to go into mass production later this year. This series includes the GB200 accelerator, which is compatible with current H100 or H200 systems, and a superchip, the B200, which boasts 30 times the speed of its predecessor for certain tasks like chatbot responses. The chip giant will begin shipping the B100 and B200 in October, followed by the Grace Blackwell GB200 superchip a few months later.
The stocks with the biggest losses
- Despite a 10% increase in passenger traffic to 55.5 million, shares in low-cost airline Ryanair (NASDAQ:RYAAY) fell 12% after announcing a first-quarter profit of €360m, down 46% from €663m a year earlier. Ryanair group chief executive Michael O'Leary commented: “Although second quarter demand is strong, prices remain lower than we had expected and we now anticipate second quarter fares to be significantly lower than last summer (previously expected to remain unchanged or rise slightly).”
- CrowdStrike (NASDAQ: CRWD) stocks continued to fall on Monday, dropping Another 3% After closing down 11% on Friday following a flaw in a CrowdStrike update that caused a major disruption to Microsoft (MSFT) cloud services worldwide. “While the percentage was small, the broad economic and societal impacts reflect the use of CrowdStrike by enterprises running many critical services,” said David Weston, vice president of enterprise and operating systems security at Microsoft.
- Verizon Communications (New York Stock Exchange:VZ) Share It fell by approximately 4% following the release of mixed second quarter results and a reaffirmed outlook for fiscal 2024. The company reported a 3.5% year-over-year increase in wireless revenue, reaching $19.8 billion, showing steady growth in this sector. Additionally, broadband saw significant growth, with total subscribers up 17.2% year-over-year. However, overall operating income saw only a slight 0.6% year-over-year increase, reflecting headwinds in equipment sales attributed to lower upgrade volumes.
